On-demand Learning Management System Market is expected to show significant growth over the forecast period
Gamification is a concept of implementing a game design and mechanism to non-game applications. Increasing adoption of gamification for use in the learning management system is increasing the interest of the learners, inspiring them to continue learning. Learning management system solutions provide various benefits such as better learning experience, better learning environment, and instant feedback in comparison with other solutions. Increasing adoption of gamification for education and training purposes is in turn, accelerating growth of the market for On-demand Learning Management System. Several corporate companies are increasingly adopting gamification learning management systems for various applications such as product development, human resources, sales, and marketing, in turn, boosting growth of the On-demand Learning Management System market.
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Learning management system is a software application for the reporting, tracking, documentation, and administration by e-learning training and educational courses or programs. On-demand Learning Management System is the integration of software-as-a-service platform and key features of traditional learning management system. The adoption of cloud platform in learning management system provides advanced features such as remote location access, reduced maintenance cost, as well as flexibility and scalability. Owing to such benefits, the demand for On-demand Learning Management System has increased, in turn boosting market growth.
IT and Telecom segment held a dominant position in the market.
On the basis of end users, the learning management system market is diversified into healthcare, retail, government, banking, financial services & insurance, manufacturing, IT & telecom, and consulting. The IT and telecommunication segment held a dominant position in the market and is projected to retain its dominance throughout the forecast period. The IT sector has witnessed a relatively high number of technological advancements in the recent past such as advanced versions of various developing languages, including R, Ruby, PYTHON, and SQL. Increasing use of these languages for training purposes, in turn, is expected to fuel growth of the market for On-demand Learning Management System.
North America holds a dominant position in the market in 2016
North America held a dominant position in the market in 2016 and is projected to retain its dominance throughout the forecast period. Some of the major countries driving growth of the market in the region are the U.S. and Canada. Increasing trend of continuous learning, has influenced various to companies to provide accessibility to effective content anytime and anywhere, in turn increasing the demand for On-demand Learning Management System. Furthermore, increasing digitalization and high internet penetration are driving growth of the cloud-based learning management market globally. According to Coherent Market Insights, around 88.5 percent of the population were internet users in the U.S., in 2016.
Moreover, the Asia Pacific market is projected to exhibit highest CAGR over the forecast period. India, China, and Japan are some of the major countries driving growth of the On-demand Learning Management System market in the region. Increasing adoption of online educational systems is in turn, accelerating growth of the On-demand Learning Management System market in this region. For example: according to coherent market insights, In India the online education system market generated the revenue of US$ 247 million in 2016 and is projected to reach up to US$ 1.96 billion by 2021.
Increasing government support plays a key role for the growth of market. For instance, in India, government initiatives such as SWAYAM, E-Basta, Rashtriya Madhyamik Shiksha Abhiyan, Skill India, and Digital India helps provide a robust platform for deployment of e-learning tools.
Key Companies- Global On-demand Learning Management System Market.
Some of the major companies in the global On-demand Learning Management System market Adobe Systems, TalentLMS, DoceboLMS, Litmos, Trivantis, WizIQ, Mindflash, SchoolKeep, Latitude Learning LMS, and SAP.