LMS Industry Snapshot
Learning management systems have been around for quite some time now, constantly morphing to fit the current demands and trends of today.
At one time it was just a “tracking engine” (more or less) and now the market demands that the LMS has to be sleek and feature packed. The growth in online education is growing the demand for a capable LMS. It is projected that by 2021 the market will be roughly $15.7 billion.
A robust learning management system is needed in almost every industry. The most obvious is the education sector, but it is also required in technology, manufacturing, healthcare, software development, non-profit, real estate, event marketing, and government institutions.
And these are just the main industries. You also have smaller markets such as information marketers leveraging the power of an LMS to offer their own courses and certification programs.
Today, an LMS powers general training programs, certification programs, compliance training, on-boarding initiatives, customer training, and general course sales.
An LMS is in demand across all regions, with the fastest growing sectors being Asia and Eastern Europe.
But despite this market growth there is still room for improvement. Of all the issues people have with their LMS, the most cited include poor user experience, sub-par administrative experience, poor reporting, lack of integrations, and incompatibility with mobile devices.
Of these areas, I find the last one quite surprising. Mobile devices have been around for a few years now. If there are learning management systems out there that don’t work on mobile the I can’t imagine they will stay in business much longer. Mobile learning is one of the fastest growing sectors of the elearning industry.