The corporate LMS market tells us much about the future of online learning in the workplace. But, before we dive into this topic, let’s take a moment to ensure we are on the same page with our definitions of ‘LMS’ and ‘online learning’:
LMS – ‘LMS’ stands for ‘learning management system’. A learning management system is a software application designed to deliver educational courses, as well as track, report, document, and administrate them. We love Business News Daily’s definition of ‘LMS’:
“A learning management system is a powerful resource for employers focused on training and professional development, whether it’s for staffing agencies or extension schools or corporations. This powerful software combines database management with the digital framework for managing curricula, training materials and evaluation tools. The impact of an LMS is mostly felt outside of traditional educational institutions, though the same technology is slowly finding its way into even those entities.”
Our blog post What is an LMS? offers a lengthier definition of ‘learning management system’.
Online learning – Online learning is learning that takes place in an online/virtual classroom or atmosphere. When we refer to ‘online learning’ in this article, it will be in the context of corporate learning, or learning and training that happens in the workplace for the sake of training employees.
What is LMS-Based Learning?
LMS-based learning is facilitated by a social learning management system (LMS), and this is where it can differ slightly from online learning in general. Some online learning can happen independently of an LMS. After all, LMS-based learning doesn’t necessarily exclusively take place online. Often, company leaders use an LMS to promote blended learning (learning that takes place via live, instructor-led training sessions), as well as learning that happens in an online atmosphere. As technology advances, more and more corporations are leaning toward employee training that is solely based online and delivered via LMS (i.e., LMS-based learning). However, consumers should remember that an LMS can accommodate blended learning and learning that is 100% based online. However, in this article, ‘LMS-based learning’ will be used synonymously with ‘online learning’.
What the Corporate LMS Market Tells Us About the Future of Online Learning in the Workplace
LMS-based learning is popular in the workplace. This is not likely to change. LMS-based learning, or online learning, will probably increase in popularity in coming years. Markets and Markets reported,
“The LMS market is expected to show many opportunities of growth in the years to come. Increasing adoption of digital learning among corporate organizations and academic institutes, Bring Your Own Device (BYOD) trend, growing usage of wearable e-learning devices, and emerging technologies such as gamification and virtual reality are some of the major driving factors for the Learning Management System market.”
One way that eLearning specialists can predict a continued expansion of corporate LMS usage is by looking at current statistics concerning the corporate LMS market. The LMS market was referred to by Forbes as being “red hot.” We agree with this assessment. The article The Red Hot Market for Learning Management Systems said, “We just released our newest research on the corporate Learning Management Systems market and the numbers are astounding. The market is well over $2.5 billion and grew by over 21% this year (2014).” More recent statistics reveal “the Learning Management System (LMS) market size is expected to grow from USD 5.22 Billion in 2016 to USD 15.72 Billion by 2021, at a CAGR of 24.7%.” These impressive statistics indicate that LMS-based learning in the workplace isn’t going anywhere anytime soon.
How to Integrate Online Learning into the Workplace
Online learning’s future is sure, and forward-thinking company leaders are taking every opportunity to weave online learning into employee training programs. There are several ways to integrate online learning into the workplace. The quickest, easiest way is to launch a fully hosted LMS, then use its features, such as LMS content creation/an eLearning content library, to host online courses. If you aren’t ready to commit to having an LMS installed, we suggest launching a free LMS demo and seeing how your employees interact with it.
Give Online Learning/LMS-Based Learning a Try for FREE
Would you like to give online learning a try for free? If so, request a FREE demo of the award-winning LMS TOPYX. TOPYX is a fully hosted, full-featured LMS that is loaded with helpful features such as:
- Mobile learning tools
- Social learning tools
- eLearning content creation
- Online learning content library
- Learning Tools Interoperability (LTI)
- Language localization
LMSs make online learning in the workplace simple. The booming LMS market tells us that the future of online learning—especially online learning in a corporate setting—is bright. Is your company benefitting from online learning? If not, now is a great time to begin integrating online learning into your organization’s employee training program.