No change is permanent; it keeps on evolving and technology changes in the LMS market are its biggest example.
The newest technology becomes obsolete after just a few months or years of its advent. What you followed yesterday might not remain a revenue-generating strategy today.
At present, eLearning and learning management systems are major platforms where technology is in its full swing. Keeping pace with technology trends is the need of the hour for most business owners and investors.
The LMS market has been bombarded with several new-age trends, like AR, VR, Big data, Micro-Learning etc. Investors and buyers in the LMS market must have valuable insights into critical information and key industry trends before they invest in an LMS.
In the near future, the market size of LMS is going to increase by multiple times its current size. Because of this, the digital learning space will see more intense competition among vendors and an exciting learning journey for the users.
As an investor, you must be prepared beforehand. You should also be aware of the major growth drivers behind the boom in the LMS market. Some of the most prominent and key growth factors include the use of machine learning and artificial intelligence in academic and corporate learning setups, government support and initiatives taken for LMS growth, increasing awareness of digital learning benefits, enterprise mobility and even the strategy of Bring Your Own Device (BYOD).
If we talk about the impact of elearning or LMS on your business, you’ll be surprised to know the results (discussed below). It eliminates the need for a huge investment in learning and development by automating repetitive tasks, tracking learner performance, giving unlimited access to training materials and organizing the entire learning course in a single location. Further, considering the new innovations in the LMS sphere, it can be rightly said that the future holds more benefits and improved features in an LMS.
This new age will be all about the trends and innovations surrounding the LMS market. Some of the latest trends include the following -
Nobody knows what lies in the future. However, simply waiting and letting the competitors make the first move is not the right strategy. Every investor, business owner and even the learners must be aware of the latest trends and a complete analysis of the market.