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LMS (Learning Management System) is a web based technology that is
used for planning, implementing and assessing learning processes.
This system enables educational institutions to augment on-campus
courses and deliver online courses. Apart from handling courses, this
system can also handle various other tasks like skill analysis,
reporting and tracking. It enables students to use interactive
features like video conferencing, threaded discussions and discussion
forums. This system enables teaching staff in creating and delivering
content, assessing student performance and monitoring student
participation. Corporate bodies are also implementing LMS for online
training and to automate certain tasks like employee registration and
record keeping. The various functions that are handled by LMS include
automating and centralizing administration procedures, rapidly
collecting and delivering learning materials, consolidating training
initiatives, supporting standards and portability, personalizing
content and enabling knowledge reuse.
The
learning management system market is segmented on the basis of end
users of the product. The end users of this product are majorly
categorized into educational institutions, corporate bodies,
government sectors, healthcare industry, manufacturing units, retail
segments, telecom and information technology, and others. There are
various drivers that are contributing to the growth of this market.
One of the major factors driving the growth of this market includes
growing adoption of e-learning. Most private companies are adapting
e-learning systems because of the requirement to train employees
at/from remote locations. Also, this system permits customizations
and flexibility of training programs in terms of methodology and
content. Implementing such system reduces travel time for employees
and costs apart from easy access from convenient locations. Another
factor that contributes to the growth of this market is that
implementing LMS enables continuous learning. At a professional
level, it is about expanding skill sets in response to rapidly
changing environments and new developments at the workplace. For
example, introduction of computer management systems to automate
certain work processes creates a need for employees to be trained so
that they can perform their tasks more efficiently. Implementing LMS
to train employees is less time consuming and also large number of
employees can be easily addressed and managed. However, integration
with the existing systems in an organization may not be always
possible. Some organizations already have certain systems implemented
for training their employees.
Implementing
LMS may take lot of time to understand the working of the system,
keeping the cost factor in mind. Also, there is no assurance that the
skills that shall be fostered using such systems can be transferrable
to new situations. In educational institutions, students tend to feel
isolated from their classmates and instructors and managing such
systems with beginner level can be a complex task. These factors are
affecting the growth of LMS market. The customizations that are
demanded by certain organizations in LMS are not feasible in terms of
costs in all situations. Smaller organizations would prefer using the
traditional methods of training while large organizations would be
reluctant in terms of investing time to actually understand the
customizations needed by their companies. In manufacturing
industries, practical training to operate machines is not possible in
a simulated training lab.
Implementing
mobile applications of such systems due to increase in usage of smart
phones and increasing on-the-go work culture can create significant
opportunities in LMS market. Companies in this line of business
include McGraw-Hill Education, Blackboard Inc, Skillsoft Ireland
Limited, Desire2Learn Incorporated and SumTotal Systems, LLC among
others.
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