Cloud-Based Learning Management System Market – Global Drivers, Opportunities, Trends, and Forecasts to 2023
Learning management systems (LMS) are meant for documentation, administration, tracking & reporting, and delivery of various training programs & educational courses. The rise in the popularity of digital learning has led to the growth of LMS. At initial stages, the software application was designed to be hosted on-premise. However, due to the increased implementation cost, providers started offering LMS solutions on the cloud to their customers driving the Cloud based Learning Management System (LMS) Market.
At present, SaaS-based LMS model is gaining more traction due to its cost effectiveness and support for flexible training methods. Cost savings in the business setting is the primary reason for its high adoption rate. The initial costs are low as there is no software to purchase, and there is no requirement of additional resource for installation and maintenance. Cloud-based LMS is easily accessible by both the course designers and the learners. In addition, designing and setting up of the courses are easier and faster, and various reports and parameters can be monitored in real time by the stakeholders. These factors heavily contribute to the high adoption rate of cloud-based LMS.
According to Infoholic Research, the “Cloud-Based Learning Management System” market will witness a CAGR of XX% during the forecast period 2016–2022. The increase in the demand for e-learning, rise in the adoption of smart devices and BYOD are some of the drivers for the market growth. The major vendors present in the market are Adobe, Blackboard, NetDimensions, Cornerstone, TalentLMS, WiZDOM Training, Docebo, IBM, and Litmos. The cloud LMS market is segmented by applications, verticals, user types, and mode of delivery.
The study covers and analyzes the “Cloud-Based Learning Management System” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiative, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.
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