LMS (learning management system) was first introduced in the 1990s. It is software that enables organisations and educational institutions to utilise internet resources to deploy and track training initiatives. In LMS, learning materials are typically uploaded to the online system, which can be then remotely accessible.
What is the impact of the pandemic on global LMS market value?
The global market size of LMS was calculated to be around $ 6.5 billion in 2019. The value is expected to see good market growth in future due to an increase in the use of digital systems in the educational sector and other corporations, rise in adoption of BYOD culture, increase in adoption of online classes and exams in the educational sector, rise in use of AI and ML (machine learning) in LMS, a rapid increase of remote learning culture, and attraction of various governments toward LMS.
The global market of LMS is expected to increase by approximately 24% in 2020, due to the pandemic of COVID-19, to reach the market value of $ 8.06 billion. The main reason behind the extensive growth rate in 2020 is due to the lockdown state in various countries, which tend educational institutions and other corporations to move toward LMS to reduce the effect of lockdown on business and education.
As compared to the business sector educational institutions are rapidly adopting LMS systems in lockdown and providing online lectures and course materials to students and even taking online quizzes and exams, such as take-home exams. Most of the governments are also forcing educational institutions towards LMS during the lockdown state.
Besides uploading learning materials, some LMS also facilitate eLearning authoring tools, enabling the organisation to improve its learning materials without any help from third-party software. Both organisations and educational institutions mostly use it.
LMS can be deployed through various means, including cloud, direct downloading from LMS provider website, using a desktop application that can also be accessible on other devices, and access through mobile devices by creating a mobile application for LMS.
LMS uses various licensing methods, including open-source code, which is free and mostly online-based and provides the facility of changing source code to bend the LMS according to the organisation requirements.
Some of the top players in the LMS industry include SAP, Expertus, SumTotal Systems, Oracle, Adobe Systems, SkyPrep, IBM, Absorb Software, Blackboard, and Cornerstone.