Transparency Market Research (TMR) notes that the global learning management systems market has several large and small players. The rivalry among the players is likely to increase as they aim at offering cloud-based software management systems.
Among the multiple strategies adopted by companies in the global learning management systems market to stay ahead of competitors, cloud and on-premise deployment models are the common ones. Key players in the market are SkillSoft Limited, SAP SE, Saba Software, Oracle, Cornerstone OnDemand, and others, to enhance learning management solutions among the users.
The TMR report projects the global warehouse management systems market to register a promising CAGR of 19.9% from 2016 to 2024. By the end of 2024, the market will be worth US$ 18.8 bn predicts the report.
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Out of various services, the demand for maintenance is expected to remain high in the next few years due to the constant need for monitoring and controlling various complex reporting and skill analysis activities. Geographically, North America is expected to lead the global learning management systems market in the coming years. This is attributed to the flourishing software companies and the demand for extended learning management system solutions to support cloud integration.
Globally, organizations are opting e-learning services for educating and training their employees owing to the incurring expenses of the traditional teaching methods. Adoption of bring your own device (BYOD) in the organization culture facilitates benefits such as cost saving, innovation and productivity, along with access to online training materials, directly to the employees’ devices supporting smart learning. Furthermore, the increased compatibility of learning management system with mobile devices and social learning have mandated corporates to adopt BYOD culture. These trends are expected to drive growth in the global learning management systems market.