Pune (India) | In a new analysis, the Indian market research company Wise Guy Research Consultants assumes an annual average growth rate of 28.23 % in the years 2018-2025. According to the latest data, the corporate LMS market had a market value of 1.58 billion US dollars in 2017. According to Wise Guy’s forecast, by 2025 it will have reached 11.55 billion. LMS are the central eLearning system used by companies to train their employees. Learning progress and qualification deficits of the workforce or individual employees can be displayed without any problems. Compliance training courses can also be easily managed and kept up to date.
According to Wise Guy, the most important drivers for the growth of the global corporate LMS market are an increase in the importance of continuous and lifelong learning in companies, continuous innovations in the e-learning tools included, and the increasing demand for the automation of assessment functions. Bringing your own device” and increased user acceptance will also contribute significantly to market growth in the coming years.
According to Wise Guy’s analysis, however, technical limitations of the systems and a partly rather low motivation of the organizations to deal with modern forms of teaching would have an inhibiting effect on the market growth of the global corporate LMS market. The lack of time resources among those responsible would also tend to have a negative impact on market growth.
In terms of regions, Wise Guy’s two-hundred-page report provides a more detailed breakdown by regions in qualitative and quantitative terms. North America is therefore the region with the highest market share to date. The European market is also important. However, according to Wise Guy, the highest growth rate in the coming years is likely to be in the Asia-Pacific region.
Image: © NicoElNino – stock.adobe.com