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Key LMS Solutions Statistics and Why They Matter

LMS solutions have become a necessity for present-day enterprises and educational institutes. With the pandemic forcing the world to go on lockdown and start accepting the remote nature of learning and working, the idea of creating an online platform that allows learning, training, and development of the users have been widely accepted and implemented, which is impossible without using an LMS, hence the LMS industry has risen by leaps and bounds. Today almost every 3rd institute has a functioning LMS. People go out of their comfort to hire a custom LMS development company to ensure that they have command of what they get and how things work in their LMS.

The popularity that the learning management systems have gained over the past few years has been really impressive, however, there are people who still believe that they do not need a digital shift. While some are afraid to adapt to the technological changes, there are people who are not aware of the statistics that the LMS industry has in the current scenario which keeps them out of the market loop, and hence they never think of making the beneficial switch. You might be wondering how statistics affect the decision? Well, the business world is completely based on simple math and stats. If there is something growing exponentially, every businessman wants a piece of it while on the contrary, if there is a factor that has seen no growth statistically, the chances of people taking interest in that entity shrink dramatically.

If you are in the market searching for quality LMS solutions, you need to finish your research and for that, you need access to statistics. In this post, let us discuss some of the most important and interesting statistics from the field and try to understand what is the pace of growth in the field and is it of any benefit to you. Without further ado, let’s jump right into it!

Also Read — 7 Open-source Self-hosted Learning Management Systems (LMS)

LMS Solution Statistics 2022: Key Areas That Affect Your Investment

Now, statistics do have a domain that they represent. There are types of statistics that matter to people, for instance, financial stats, engagement stats, implementation stats, etc. We will take a look at all of them and understand exactly the current pace of the industry and whether it is worth your buck or not. There are so many fields that matter when it comes to learning management systems, for instance, you need solid proof that the software is a success among the users, then you also want to know what exactly is the market size that you are going to invest in. Knowing what engages the users and whether users are taking interest in mobile/online learning or not is also a major point. All in all, you can say that there are so many key LMS solutions and statistics that matter.

Now that you are familiar with the areas of statistics, let us quickly list down the key statistics for your reference so you can make the decision better. These are the industry-wide stats which means they will be a mix of market stats, user trends, financial facts, etc., and will help you make appropriate decisions. Check them out!

  1. In 2019 the LMS market was valued at $8.7 billion and in 2022 is now at a whopping $15.8 billion which is increasing with a CAGR of 19.7% which means by the end of 2027, the entire market will be worth $38.10 billion, which shows that the LMS industry is all set to touch the heights of investment.
  2. If we talk about the corporate market specifically, it is expected to grow with a CAGR of 8% which is quite significant in terms of growth and finances. The corporate sector is a prominent consumer of LMS systems and has an impactful market share. This stat shows that even the corporate sector is highly interested in uplifting their T&D.
  3. The education sector comprises 21% of or one-fifth of total users of an LMS in the world. Other than these, there are other fields such as marketing, tech, healthcare, consulting firms, etc. also denote a massive chunk of overall users. Knowing the user base gives you an idea about whether your contemporaries are in the field or not.
  4. The most in-demand features in an LMS are assessment tools, learning content management system, LMS integration, module-based learning, a little bit of gamification, and blended learning for mobile and hybrid users. Knowing what kind of features are active in the market helps you understand the development path you need to take.
  5. According to a market research report by Brandon Hall Group, 48% of the total learners are looking for a new and fresh platform to enhance their learning. Also, the reports say that 44% of the users are not happy with the current LMS they are using which clearly shows the potential for growth one has in the field even if they start now.
  6. 77% of US companies started using eLearning in 2017 which has yielded some amazing insights into the user experience. 72% of the users believe that they have seen significant growth in learning and 67% of them are dependent on mobile learning as it is more flexible. The stat clearly indicates that the LMSs are helpful in capturing the markets if implemented properly.
  7. The Global eLearning market grows by 14% annually on average Which means no matter the field, the custom LMS solutions are spreading like a wildfire and have opened a lot of opportunities for budding enterprises to capitalize. The potential for growth in the field is significant as the rate of expansion is high.

These are the key LMS solutions statistics that you must know when you are planning to opt for an enterprise learning management system in your facility. You might be wondering how exactly these stats help you or why do they matter enough to affect your decision? Well, the simple answer is market research and potential. As you can see, the stats clear everything about the potential size of the market, what people look for and what drives the users to opt for flexible learning.

No matter what your goal is, everything that you do in the business field is to generate revenue and earn money. The market size and the earning potential with an LMS are increasing exponentially. Not to mention, the pandemic has accelerated the growth by a huge margin, and hence knowing how much is up for grabs is always better before you jump into the field.

Check Out — LMS Development From Idea to Implementation

How Do These Statistics Matter in Your Decision Making?

Statistics are the backbone of all the solid decisions that businesses take. Knowing what you are getting into gives you an edge over the competition and thus it is your duty to look for stats before you make a decision. As far as learning management systems are concerned, there is hardly anything that you can not find on the above stats. These statistics actually matter a lot in the decision-making process as the world is full of influential situations. There are times when you make a decision based on a personal experience or someone else’s influence which leads to a major loss in your venture. Instead of taking advice and making decisions based on assumptions, when you refer to statistics, you automatically make a smart choice as while the experience and feelings may be subjective, numbers never lie and clear the picture all at once.

For instance, you know that the market for LMS is growing exponentially so you have the clarity that no matter what happens, you will not face loss due to the shrinking of the market as the opportunities are always available. Secondly, The statistics clearly show the number of educational users and corporate users which gives you an ideal understanding of which field to target and how to approach them. You even get insights on what kind of features do people like which means when you are in the market looking for LMS consultants, you know what kind of experts can help you out.

All in all, the statistics are of sheer use to those who believe in quality research prior to making their moves in the market.

You May Also Like — LMS Business Consulting — How To Find The Best LMS Consultant?

Final Words

There are tons of other statistics available on the internet for LMS development companies and markets however if you are in the market looking to get started, the above-mentioned statistics are the key areas you should pay attention to. Relying on the experts becomes easier when you have facts and stats to support your decision and these statistics will help you justify your steps into the market. Taking LMS development services is the best way you can utilize the growing market and make the most out of every penny you spend. Refer to the trends in the market and make the decision for yourself. Hope these stats help you with your next step, Good luck!

Read Next: SaaS LMS: The Revolution in the E-Learning Industry Is Here

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A3logics

A3logics

A3logics delivers value-added industry-specific business technology consulting, IT solutions and services to businesses across the globe. marketing@a3logics.in

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