The global next-gen LMS market was valued at around $2 billion in 2015 and is expected to reach almost $7 billion by 2020, says Technavio.
Technavio’s education technology portfolio has announced its latest market research report on next-gen LMS for the forecast period, 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global next-gen LMS market during the forecast period. Some of the top vendors listed in this industry analysis include Adobe Systems, D2L, Docebo, and Expertus.
In terms of geographical analysis, North America will account for the largest share of the global market and is expected to reach revenues of more than $3649 million by 2020. The US will emerge as the key revenue-generators.
“The rise in adoption of the bring-your-own-device (BYOD) policy at work is augmenting the need to access content while the ability to effectively use gadgets to learn and interact is getting stronger. Because of this development, vendors that manufacture education technology content and products are focusing on targeting a wider learner base. Most of the service offerings pertaining to content and courses are designed for mobile devices. Such advancements necessitate the requirements for the inclusion of new features in LMS, which will enable personalized and adaptive learning,” says Jhansi Rani, a lead analyst at Technavio for research on education technology.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Replacement of legacy LMSs
The academic segment is still struggling with the existing LMS applications available in the market due to budget limitations. Universities are increasingly approaching next gen LMS solutions for the first time purchase instead of traditional LMS. Despite being capital intensive in the beginning, next-gen LMS solutions for the first-time purchase can bring about cost benefits in the long run. As next gen LMS is pitched as the potential platform that can integrate and accelerate adoption of learning models (such as flipped classroom and CBE), most educational institutions are likely to ink business agreements with next gen LMS vendors.
Peer benchmarking selection process
A peer benchmarking selection process is undertaken prior to the purchase decision of any education technology such as next gen LMS. The process helps institutions understand various next gen LMS capabilities as evaluated by their peer institutions. Other benefits of the process include the preparation of an appropriate roadmap to project approaches and comprehension the peer institutions’ functional requirements. With the help of analyzing and data gathering, the institution can rectify or alter its own parameters.
Promotes adaptive learning
Next-gen LMSs are equipped with built-in analytical features. These features keep track of the content that the users are accessing, the pages most visited, and other minute details. The data can also be analyzed to design content that is specific to the requirements of individual learners. The continuous evaluation system keeps in check the areas that learners need to improve on so that they can complete the course on time.
Next LMS also suggests the type of courses to be undertaken by the learners based on their interests, skills, and understanding, which is beneficial for students as well as corporate learners. In addition, the data obtained through the evaluation system is further used by course providers to offer individual learning curriculums.
Some of the other prominent vendors identified in this report are City & Guilds, Haiku Learning, Saba Software, and Schoology.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Next-gen LMS 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Next Gen LMS Market in Europe 2016-2020
- Global Learning Management System Market 2016-2020
- Global Smart Education Software Market 2016-2020
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