Learning management system is among the impactful and extraordinary trendsetters. LMS is simply not confined to enhancing the skills and training the learners, there is definitely more to it. The best part about the learning management system is that it can be customized and implemented in any industry regardless of its size or niche.
TTU Blackboard is the online web portal for the students of Texas Tech University to facilitate their students. Each student is awarded a unique TTU Blackboard account to check his course activities and grades.
The emergence of information and communications technology has changed ways of learning as well as teaching practices. Surely, since the inception of the learning management system and advanced technology together have brought a positive impact on learners and instructors. On this note, the article will showcase the real-time benefits of the LMS integration and insights into the current state of the platform.
Talking about the history of LMS, it was first traced in 1924 with the idea to share more inspirational and thought-stimulating activities for the students/learners. Since then, LMS development became popular, allowing easy access to educational resources in a multitude of forms. Let’s move toward the latest market research about the learning management system.
Numerous factors impel the popularity of the LMS:
- Rise of Artificial Intelligence and Machine Learning in LMS,
- Extensive government initiatives,
- Adoption of eLearning solutions,
- Introduction to the Bring-Your-Own-Device policies.
When surveyed by the Global Opportunity Analysis, it was revealed that the LMS market will reach a value of $28.1 billion by 2025.
The LMS market will increase at a CAGR of 19.6%, from $9.2 billion in 2018 to $22.4 billion in 2023. Another forecast between 2020-and 2024 was made for the corporate LMS market, which is expected to grow at a compound annual growth rate of 23% with a revenue of $12.24 billion.
The dominating players in the market are Blackboard and Canvas, each controlling 28% of the US higher education LMS market.
The usage of LMS has become necessary in many universities and educational institutions globally. Additionally, information and communication technologies are being used to cater to the educational needs of the students and educational institutes, especially for distant education programs.
Along with academic purposes, LMS solutions are widely used in corporations. HR professionals require a platform that can help them in seamless training of the employees and managers. New and young entrepreneurs can use LMS to gain a crash course in marketing, accounting, and other skill-based courses.
The current LMS User base is estimated to be 73.8 million. Also, almost 87% of active users have web-based LMS programs.
When surveyed, the primary participants of LMS are corporate-level executives (65%) and managers (35%). Additionally, 30% of the LMS buyers are long-established tech companies, whereas 2% of the LMS software market consists of government institutions.
Other industries that have contributed to the LMS market are – technology(12%), manufacturing(9%), healthcare and consulting(7%), and software development companies(4%).
Mobile learning was an innovative method to engage almost everyone on the globe. Numerous studies have proven the benefits of mobile learning include enhanced knowledge acquisition, updated educational resources, and verified information. When surveyed, it was found out that –
- 70% of the learners are more motivated to learn when they use mobile devices.
- 72% of mobile learners also revealed that they are more engaged when learning through learning modules accessed through their smartphones.
Since we know that elearning software solutions and EdTech companies are evolving in the service market. Even though the most important technology that facilitates the elearning is cloud computing services. Cloud is known for its high scalability, omnipresent accessibility, remarkable data processing, and feasible security deployment.
Modern Cloud-Based LMS Statistics
The power and impact of the LMS and how it revolutionizes the learning methods are well-known to everyone. The cloud makes this platform even more cost-effective and relevant to a wider audience. The latest and advanced cloud solutions are rich in functionality while offering better integration capabilities.
If you see closely, cloud-based LMS has already become popular and many IT firms, as well as academic & education institutions, have already moved to a hosted learning platform. The popularity of cloud-based LMS applications has extended to manufacturing, public agencies, healthcare, real estate, NGOs, event management, and more, reducing the regulatory burden as well as making onboarding, certification, and training seamless.
The present and modern LMS fulfill the needs of the business as well as the learning needs as they are integrated with the necessary features to scale continuously. The cloud-based LMS complies with the major standards such as AICC, xAPI, SCORM, LTI, and Cmi5. With modern LMS content, developers can create interactively and personalize content with agility.
Multiple leaders and vendors offering LMS are Blackboard, Canvas, Moodle, and more. These vendors cover small-mid-sized organizations while allowing higher education delivery. The emergence of hosted solutions is shifting the vendor’s focus on cloud-based LMS development and sales. This cost-effective solution has captivated several new entrants and new players as cost and features integrated into an LMS will always remain a major factor in the success of cloud LMS in the market.
Did you know that North America holds the maximum share of the cloud-based LMS market, followed by Asia-Pacific share and registers the highest growth rate? The major cloud vendors such as Saba Software, SAP SuccessFactors, Voniz, SumTotal Systems, Docebo, Cisco, Educomp, Adobe, & more are drivers with China and India major users of cloud-based LMS.
As aforementioned, mobile devices have led to the trend in mobile learning for better engagement. Europe offers a much expected mature market for cost-effective cloud-based LMS among SMEs. Additionally, South-Eastern Europe, MEA, and Latin America are also running to get on the list of major leaders to adopt the development of IT infrastructure and elearning.
This analysis explains how and why modern and advanced technology integrated LMS is embraced by education service providers and IT consulting firms.
Innumerable Benefits of Cloud Technology in Elearning
Cloud-computing platforms give students the independence of learning through well-structured learning sessions and modules.
Integrate data and analyze preferences of the learners with cloud-based education technology. Cloud computing resources empower companies to deploy customized learning content ensuring higher ROI.
Improved Data Security
Advance data sharing is possible with the help of effective and robust security architecture. Security is an inevitable aspect for any business that eradicates the fear of the loss of information, ensuring secure data flow.
Updates of data and information ensure the reliability and scalability of the business. Cloud-based LMS offers better functionality, the flow of the latest content, and quick decision-making ability.
Prototype for New Business
Cloud-based LMS have completely transformed the learning methods facilitating innovation in the form of document sharing, tutorial sessions, and video conferencing. Additionally, companies can automate information processing, fetch actionable insights, and productivity for growth.
In a Nutshell –
Gone are the days when education was limited to manual paperwork and a physical classroom. Today’s education has widened and offers seamless remote learning. The incorporation of cloud computing in digital learning is making learning flexible, personalized, and easier. The best part is that cloud LMS do not require complex installation while easily accessible from any device. A good LMS, integrated with the latest tools and technology, is an optimum choice to invest in ensuring scalability, reliability, and productivity.
Author’s Bio: Scarlett works with the editorial team of A3logics, a leading company offering learning management system solutions. Exploring the latest technologies, reading about them, and writing her views have always been her passion. She seeks new opportunities to express her opinions, explore technological advancements, and document the details. You can always find her enjoying books or articles about varied topics or jotting down her ideas in a notebook.