Today all the enterprises, be it a manufacturing organization or educational institution,
require smart learning strategies that go beyond the capabilities of traditional tools.
However, during such tough times with the outbreak of COVID-19, while we are all stuck
at our homes dealing with this pandemic, all organizations need a smart online solution
to train their employees to adapt to the current and future scenarios of business growth.
his is where the Learning Management System (LMS) comes into the picture. LMS is a
software-based solution that creates an e-learning platform for any organization.
However, it does not stop there. By leveraging Artificial Intelligence, LMS also provides
data collection and various support activities such as mobile learning and gamification
to give your employees a better edge to grow your business faster.
These activities help to boost the engagement of learners and promote continuous
learning and upskilling. It also helps to increase productivity, and even research
published by Brandon Hall Group shows that 54 % of organizations have seen
improvement in productivity by investing in dedicated learning technology.
Thus, it’s time to invest in a new e-learning system or before replacing your current LMS
to a new, more upgraded one. To back up your decision, it is advisable to uncover vital
LMS Statistics acquired from credible sources.
5 LMS Statistics You Must Know in 2020
#1. The Global eLearning Market is Expected to Rise From $107 Billion in 2015 (Forbes) to $325 Billion by the end of 2025
The growth of the eLearning market is skyrocketing, and as predicted, the market will
rise to around $325 Billion as compared from $107 Billion in 2015 (Source: Forbes).
Another study published by Research and Markets has predicted a threefold increase in revenue from 2015 and has stated that the global eLearning industry will augment $336.98 billion by 2026. Also, the research confirmed that the sector would witness a CAGR of 9.1% (2018 to 2026). Also, Research and Markets predict that LMS is expected to display significant growth opportunities in the coming five years, and the
global corporate LMS market will rise at a CAGR of around 25%.
The global lockdown of educational institutions, corporates, and government offices has
caused significant disruptions in the learning of students. However, COVID-19 has
paved opportunities for the growth of the eLearning segment.
#2. The Global Mobile Learning Platform is Expected to Grow To $37 Billion By
The End of 2020
LMS is continually upgrading to new technologies to deliver excellent content to the
broadest population. With changing demands, new LMS content delivery formats will
continue to include mobile learning, interactive video learning into eLearning solutions.
As per a report published by Lynda.com, smartphone users who are using their mobile
are likely to finish their courses 45% more quickly as compared to those who are using
laptops or computers.
With this overwhelming number of people who are using mobile devices to learn, the
global mobile learning platform is expected to grow to a $37 billion industry by the end of 2020.
#3. Increased Productivity
A Company Makes $30 For Every $1 Spent on eLearning
Even though eLearning is costly for any organization, it has proved to increase
productivity quite substantially. Studies show that for every dollar spent by an
organization on eLearning, the company claims to get back $30 due to increased
productivity.
The increased productivity is the result of higher output that each employee can
generated due to the application of newly acquired skills by way of eLearning. It is
essential to learn and apply new skills in any role, and this leads to better performance,
more output, which also boosts employee morale.
#4. The Global LMS Market is Expected To Grow at a CAGR (Compounded Annual
Growth Rate) of 24% Between 2016-2020
The need for LMS has been ever-evolving, and it is being used across multiple
industries and for a variety of different enterprises for eLearning. With this increase in
usage, it has been predicted that the LMS market is expected to rise at a compounded
annual growth rate of 24% between the years 2016 and 2020.
This rate has been increasing in the past decade due to the significant impact of LMS
on the productivity of employees. The administrators are using various eLearning
platforms for creating courses and learning plans for the employees, tracking the
progress of learners. Learners, on the other hand, use it for course completion of
courses online, evaluation of their own growth, and evaluation of their role in the
organization.
All this leads to an increase in productivity due to which there has been an attributable
increase in profits of the company. This is one of the primary reasons for the adoption of
LMS in an organization.
#5. LMS and Educational Industry: the Spending Will Rapidly Increase Between
2017 And 2022 in LMS and eLearning
Personalization continues to be a massive theme for all the educational industries.
There has been a constant shift from the traditional model to a student-centric,
individualized model where every student’s learning needs are fulfilled.
Also, research shows that 90% of generation X students prefer to have all the resources under one roof and prefer online learning rather than traditional classroom learning.
Also, various studies reveal that as many as 49% of the students have taken up online courses in the last few years.
All these factors have led to the adoption of online methods of teaching by colleges and
universities. Institutions are now looking for the best eLearning platforms for their
students. They are ready to spend the right amount on a comprehensive LMS platform.
Therefore it is predicted that the education industry is expected to spend $3.1 billion on eLearning by way of videos and online lectures. This number is ever-increasing and has good future potential.
Final Thoughts
We hope that by now, you have understood the impact of LMS on any organization, its
employees, or students. The opportunities offered by eLearning are undeniable. You
should always analyze the potential of technology and the present capability of your
organization before investing in any LMS software.
We also advise you to study the pros and cons of LMS software before blocking a
considerable amount of your funds into the technology. Whether you start from the
primary eLearning platform to train your employees or go deeper for more upgraded
Artificial Intelligence, the scope of LMS is ever-evolving and endless.
FAQ
What is a learning management system?
LMS is a
software-based solution that creates an e-learning platform for any organization.
However, it does not stop there. By leveraging Artificial Intelligence, LMS also provides
data collection and various support activities such as mobile learning and gamification
to give your employees a better edge to grow your business faster.
These activities help to boost the engagement of learners and promote continuous
learning and upskilling. It also helps to increase productivity, and even research
published by Brandon Hall Group shows that 54 % of organizations have seen
improvement in productivity by investing in dedicated learning technology.
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