Dublin, Dec. 23, 2022 (GLOBE NEWSWIRE) -- The "Global Corporate Learning Management System Market Size, Share & Industry Trends Analysis Report by Offering (Solutions and Services), Deployment Mode, Organization Size (Large Enterprises and SMEs), Vertical, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Corporate Learning Management System Market size is expected to reach $24.6 billion by 2028, rising at a market growth of 19.1% CAGR during the forecast period.
Numerous enterprise LMS provide pre-made courses, course frameworks, and course development tools. This allows managers and HR experts to tailor the content to their own needs. Practices frequently incorporate video, PowerPoint slides, webinars, and other resource documents. This range of methods encourages employee participation. Gamification is used in LMS packages as an additional strategy for retaining learners' interest.
This means that the majority of learning management system (LMS) products contain game-like aspects, such as competitive leaderboards or a point system, to stimulate engagement with training content. Customized course authoring tools allow managers to create training for their personnel soon after the onboarding process. As a part of a professional development plan, these courses can teach new skills or keep personnel abreast of policy changes.
An LMS can be utilized by compliance managers for any industry-specific compliance standards. The majority of learning management systems provide recordkeeping and reporting capabilities. These abilities simplify monitoring who is current on their possible online, when training was finished, and automating reminders.
An LMS can also monitor the length of time it takes an employee to finish a course and their performance on any evaluations contained in that course. This information is useful for determining if an employee is struggling with the material. Managers can provide further assistance by determining which employees are having difficulty during training.
Market Growth Factors
Increasing Demand for Skill-Based and Goal-Driven Training to Enhance Employee Performance
Corporate LMS guarantees that employees receive customized and job-specific training to better comprehend their duties. Corporate training plays a significant part in the acquisition of new skills, the enhancement of productivity, and the improvement of performance, regardless of whether the firm is onboarding new applicants or enhancing the skills of present employees. Every organization must foster a culture of continuous learning among its staff. In skills-based learning, students are taught a particular skill. This not only enables us to teach students how to acquire the correct answer in the practice that employs, but it also assists students in achieving the correct response in all instances where they encounter the same talent.
Incorporation of AR/VR and AI/ML for A More Conducive Training Environment
Incorporating cutting-edge technologies such as augmented reality/virtual reality and artificial intelligence/machine learning to improve the training environment. To enhance the experience of their learners, businesses across industries are implementing innovative technologies including AR, VR, AI, and gamification into their training and development programs. In addition, mobile technology has transformed the delivery of content to students. The availability of mobile microlearning applications enables learners to access content on the go.
Marketing Restraining Factor
Enterprise Reluctance to Transform Existing Training Content to Microcontent
Microlearning not only offers several benefits, such as the convenience of generating and updating lessons, but it also enhances staff effectiveness and efficiency and boosts employee engagement. Among its many benefits is the simplicity with which courses may be created and updated. Classroom instruction is one of the most common ways that employees in a variety of sectors can participate in the training and development programs that their respective companies offer for their workforce.
Offering Outlook
The service segment witnessed a significant revenue share in the corporate learning management system market in 2021. The significant expansion of the service segment is attributable to the increased demand for installations and technical help. Education and learning service providers provide a variety of educational services, such as implementation, consultation, and support.
Deployment Mode Outlook
The on-premises segment witnessed a substantial revenue share in the corporate learning management system market in 2021. In the coming years, demand is projected to decrease in the on-premises market. On-premises installations offer total control, customization, improved integration, and extended deployment duration. All firms' training and development departments are rapidly adopting mobile learning.
Organization Size Outlook
The small & medium size segment registered a significant revenue share in the corporate learning management system market in 2021. When it comes to developing measures to support and build their businesses, SMEs are more aggressive. They want a corporate LMS that meets their learning needs, reduces expenses and eliminates manual processes successfully.
Vertical Outlook
The BFSI segment recorded a substantial revenue share in the corporate learning management system market in 2021. This means that users will be able to replicate their organization's structure and hierarchy. Whether the business firm has departments and sub-departments, cost-center business units, or some other organizational structure, the LMS select should be able to accommodate this.
Regional Outlook
The Asia pacific segment procured a promising growth rate in the corporate learning management system market in 2021. Asia-Pacific is one of the fastest-growing areas in the world, making it a highly lucrative sector for the corporate LMS industry. Japan and China, being two of the most technologically proficient nations in the region, dominate the market for corporate LMSs. The adoption of teleconferencing solutions in the area is driven by government programs designed to develop digital infrastructure.
Scope of the Study
By Offering
- Solutions
- Services
By Deployment Mode
- Cloud
- On-premises
By Organization Size
- Large Enterprises
- SMEs
By Vertical
- Software & Technology
- BFSI
- Retail
- Manufacturing
- Government & Defense
- Telecommunications
- Healthcare
- Others
Key Market Players
List of Companies Profiled in the Report:
- SAP SE
- Instructure, Inc. (Instructure Holdings, Inc.) (Thoma Bravo, LP)
- Cornerstone OnDemand, Inc. (Clearlake Capital Group, L.P.)
- Adobe, Inc.
- Paylocity Holding Corporation
- Seismic Software, Inc.
- Paycor Hcm, Inc
- Axonify, Inc.
- Zoho Corporation Pvt. Ltd.
- Blackboard, Inc. (Providence Equity Partners)
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Global Corporate Learning Management System (LMS) Market by Offering
Chapter 5. Global Corporate Learning Management System (LMS) Market by Deployment Mode
Chapter 6. Global Corporate Learning Management System (LMS) Market by Organization Size
Chapter 7. Global Corporate Learning Management System (LMS) Market by Vertical
Chapter 8. Global Corporate Learning Management System (LMS) Market by Region
Chapter 9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/vu1opa
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