According to a research by Forbes on learning management systems for corporates, the market for LMS (Learning Management System) is steadily growing. All the world’s leading and largest software companies are investing significantly in new product features and corporate learning solutions. The primary reasons LMSs are seeing such growth are:-
Corporate training is a core focus talent management area
The economy is improving and every company want to be the best and is looking to enhance their top pool of technical talent, managerial talent, their sales teams and pretty much every business functions in all spheres of business excellence, as technology evolving with each passing day, so does the need for acceleration in corporate learning abilities.
Instructional content is flooding the market. Companies want greatly modernized platforms and systems which are easy to use, deeply integrated and collaborative with their existing talent systems. Different LMSs meant for educational purpose are now used by corporate houses.
Most LMSs in use today are 4-7 years old. Almost 61% of the companies are planning to replace their systems with a new and advanced system. Advanced LMSs is a catalog of online courses, expert management systems, a knowledge sharing platform, content management systems, and talent management systems.
Mid- sized and small companies are going for some or the other type of management systems for corporate training. The market has increased manifold. Europe and Asia markets are growing significantly. US markets are in their second or third generational set- up but the European and Asian markets are still in their infancy. Many US companies are setting up their markets in these continents to increase their profits.
Increasing number of companies depend on a network of partners from franchisees to support centers to authorized dealers. Such companies are called extended enterprises. They send training materials like leaflets, sales guidelines and operating manuals to their partners. Enter LMSs which can provide for a training program for all partners, managed centrally. Quality, scope, content updates and training schedules can be handled and a learner’s learning outcomes can be perceived. Moreover, it optimizes the capacity for an instructor so that a particular training session may not be overbooked. It doesn’t have any constraint of time, availability or size. It is a solution to all your training and learning needs.