|11-05-2018 02:52 PM CET - IT, New Media & Software||
Learning Management System Market Top Players Shaping Industry: Cornerstone Ondemand Inc., Xerox Corporation, IBM Corporation, Netdimensions, SAP SE
Press release from: Coherent Market Insights
Learning management system is a software used for reporting, tracking, documentation, and administration, providing training programs and educational courses. The implementation of modern user interface, gamification, mobile ready features and social integration characters have led to the advancement of products. . The global learning management system market was valued at US$ 5,100 million in 2016 and is estimated to witness a CAGR of 23% during the forecast period (2016 – 2025).
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Increasing adoption of wearable devices provides growth opportunity for the market
The increasing sales of wearable devices has become one of the key drivers for the growth of the learning management system market globally. The in-depth training program is one of the major advantages for the use of wearable devices for training purpose. Conventional training material consists of hard copies as well as visual presentation of the subject. Wearable devices are used in organizations, with the help of which employees are able to see three dimensional examples of products, view it from different angles, and tap on different elements of the product to view its benefits. This helps employees acquire in-depth knowledge about various products, further helping them provide the information to their customers and seal the deal, in turn fulfilling their job duties.
Implementation of virtual reality technology and gamification provides advanced features to the learning management system market.
The learning management system products have integrated with new innovative technologies such as gamification and virtual reality enabling in its wide adoption in the market. Gamification provides a platform to maximize entertainment and engagement of the learners by capturing their interest and motivating them to continue learning. Additionally, gamification learning offers opportunities for collaborative problem solving and social connection, making learning more fun compared to conventional learning methods. Furthermore, advanced features of gamification and virtual reality provides technology with wearable devices such as smart glasses, which are capable of creating visual depiction of imaginary stories and situations making them comprehensible in the minds of the learner.
North America holds a dominant position in the global learning management system market.
According to Coherent Market Insights, The learning management system market in North America held the dominant position in 2016 with a CAGR of 52.9%. The United States and Canada are the major countries driving the market of learning management system in North America region. The growing adoption of "bring-your-own-device" culture in various companies and growing presence of LMS companies in the United States have provided a massive growth opportunity to the learning management system market in North America.
Key players in Learning Management System Market
Key companies covered as a part of this study include Cornerstone Ondemand Inc., Xerox Corporation, IBM Corporation, Netdimensions Ltd., SAP SE, Blackboard, Inc., SABA Software, Inc., Mcgraw-Hill Companies, Pearson PLC, and D2L Corporation
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Global Learning Management Market, By Application
• Content Management
• Performance Management
• Communication and Collaboration
• Learner Management
Global Learning Management System Market, By User Type
Global Learning Management System Market, By Vertical
• Banking, Financial Services, and Insurance
• IT and Telecom
Global Learning Management System Market, By Geography:
• North America
• Asia Pacific
• Latin America
• Middle East
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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This release was published on openPR.
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