Global Corporate Learning Management System Market : Industry Analysis and Forecast (2019-2026)
Global Corporate Learning Management System Market is expected to propel US$ XX Bn by 2026 with a CAGR of 30.12% in the forecasting period 2019-2026.
A learning management system also is known as LMS is a software application or specific web-based tools used for planning, implementing, and assessing any specific learning process. Typically, it is a learning management system that helps an instructor to create, deliver, and monitor content followed by student participation, and assessment of student performance. A learning management system further provides students with the ability to use interactive features for which some examples include: discussions over portals, video conferencing, and online team forums.
A few key factors driving the Corporate Learning Management System Market growth are the continuous innovation in eLearning tools, the rise in the trend of BYOD and enterprise mobility, together with the growing emphasis on continuous learning. Some of the other drivers boosting the market include organizing eLearning content in any location, providing unlimited access to eLearning materials, quicker tracking of progress and performance, reduction in learning and development costs. Usage of Global Corporate Learning Management System Market further in keeping organizations up-to-date with the changing compliance regulations together with integrates social learning experiences for enhancing their own employee productivity and efficiency.
Among the industry segment, the information technology is estimated to hold the largest market share in the Global Corporate Learning Management System Market in 2017. Companies present in the IT sector face greater needs of regularly training their employees, as the technology changes very fast and is highly competitive. Companies present here experience rapid technological innovations requiring a solution for quickly responding to new challenges, and offering scalability to thousands of learners, and cater to the learning needs of employees in various locations and countries.
The Global Corporate Learning Management System Market is segmented by component, deployment model, organization size, mode of delivery, industry, and region. Among the deployment model, it is the cloud deployment type that is expected to hold a larger market share than the on-premises. Cloud deployment model is preferred because of its cost-effectiveness and related benefits. It is also highly scalable, flexible, and cost-efficient, and even follows the pay-per-use model, which are incidental to the requirements of the end-users.
By geography, the Global Corporate Learning Management System Market is segmented into North America, Europe, Asia Pacific, Middle East, and Latin America. North America is expected to hold the largest market share in the corporate learning management system market during the current forecast period. The increasing use of various tools for training sessions along with a quicker grasp of new technological models that are implemented in the business scenario further boosts the overall market growth.
The key players of Global Corporate Learning Management System Market include Blackboard (US), Adobe Systems (US), Absorb Software (Canada), CrossKnowledge (US), and Cornerstone OnDemand (US).
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Global Corporate Learning Management System Market-Market scope:-
Global Corporate Learning Management System Market, By Component
Global Corporate Learning Management System Market, By Deployment Model
Global Corporate Learning Management System Market, By Organization Size
• Large Enterprise
Global Corporate Learning Management System Market, By Mode of Delivery
• Distance Learning
• Instructor based Learning
• Mixed Learning
Global Corporate Learning Management System Market, By Industry
• Information Technology
• Aerospace & Defense
Global Corporate Learning Management System Market, By Geography
• North America
• Middle East & Africa
• Latin America
Key Players operating in the Global Corporate Learning Management System Market:
• Saba Software
• Cornerstone Ondemand
• Growth Engineering
• Adobe Systems
• Tata Interactive Systems
• Cypher Learning
• Absorb Software
• Latitude CG
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