Academic and corporate LMS: Key market research findings
- Key vendors – Adobe Systems, Blackboard, Cornerstone, Oracle, SAP, and Skillsoft
- Rising use of analytics in enterprises drives market growth
- Growing adoption of cloud-based LMS
Technavio’s market research analysts predict the academic and corporate LMS market in the US to grow at a CAGR of more than 23% between 2016 and 2020. The growth of the market can be accredited primarily to the rising use of analytics in organizations. With the increase in the amount of digital data generated across institutions and enterprises, many learning management system (LMS) have begun to offer built-in analytics solutions. Several early users of LMS have built their own analytics systems running on Microsoft SQL Server or other data warehouse technologies. An analytics solution utilizes data collected at each level of the organizational hierarchy, which allows the higher authorities like the manager, director, vice president or business-unit executive to see the aggregated results as directly computed reports.
The new market research report from Technavio presents a breakdown and analysis if the academic and corporate LMS segments based on the end-user.
“The adoption of cloud-based LMS is currently witnessing an upsurge in the market. Cloud-based LMS, like SaaS that are hosted in the cloud and accessed through the Internet do not require any software or hardware installation, are, therefore, gaining popularity. These LMS help in automating content creation to course registration. The other benefits of adopting cloud-based LMS include low start-up costs and negligible onsite technical Internet support requirements,” says Jhansi Mary, Lead Analyst, Education, Technavio Research.
By 2020, the corporates segment will account for almost 49% of the overall market revenue to continue its dominance over the academic and corporate LMS market in the US. An LMS is used by organizations to manage and streamline their entire learning and training process. It usually offers advanced e-learning, simulation, and gamified learning to make the training methodology more efficient. Organizations rely on LMS to create and deliver various digital learning materials, including video-based training and presentations, to their employees to encourage participation and feedback.
The key vendors in the market include Adobe Systems, Blackboard, Cornerstone, Oracle, SAP, and Skillsoft. The market includes new players as well as specialized providers that focus on specific business applications. No leading vendor holds the majority share in the market as there are many players and no clear leader in the market landscape. So, vendors need to offer functionalities that address the unique business needs of their target customers to survive in the competitive market landscape. It is becoming difficult for end-users to select appropriate products from the variety of offerings by vendors.
A more detailed analysis is available in the Technavio report, Academic and Corporate LMS Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
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