The Corporate LMS Market Approaches a Sweet $1.9 Billion
Josh Bersin
Global Industry Analyst, I study all aspects of HR, business leadership, corporate L&D, recruiting, and HR technology. ?
$1.9 Billion spent on training technology systems? Yup.
This week we will be launching our newest annual research on the state of the Learning Management Systems market. These software systems are among the most important and rapid-changing parts of HR technology, and they drive tremendous value to businesses of all sizes.
Our research discusses the market size, market share of the major players, trends, and detailed analysis of the top vendors to help you in selection and strategy.
Businesses face a global skills imbalance, creating the sticky unemployment rate and "rush to skills" we see all over the world. The US education system is in crisis and much of the high rates of unemployment are not due to a lack of jobs, but rather a lack of skills. Making up for this, businesses increased their corporate training by 9.5% last year (https://www.bersin.com/Practice/Detail.aspx?id=15131) bringing global corporate spending to over $130 billion.
And one of the most critical parts of corporate training is the need for technology platforms (coupled with social and mobile tools) that make it easy for companies to develop and share content, make it available to employees at the time of need, and administer formal training. The decades old LMS market is transforming itself to meet these needs.
As readers of this research will learn, LMS platforms continue to play a vital role in HR technology, and despite the recent wave of mergers, a flurry of small innovative companies are reinventing the market. Established players continue to try to keep up, as new vendors provide very easy to use systems which make learning as easy as going to Khan's Academy or browsing YouTube.
Fig 1: The Continuous Learning Model
The Need for Continous Learning
The days of becoming an "expert" have changed - today every professional in every discipline must learn on a continuous basis. The "renaissance man" has been replaced with the "renaissance learner" - technology, business, economic trends, and the world just changes too fast.
What corporations are trying to do is put in place teams, programs, and systems which facilitate continuous learning - through both expert content and instruction and the leveraging of internal expertise. Our research shows that High-Impact Learning Organizations (HILOs, those in the top 10% of our learning organization maturity model), focus on "capability management" - not just training.
Today, if your company is not continuously developing new skills and learning from your customers, the market, and your own teams - you will fall behind.
The sleepy old LMS market is playing a hugely important role in this transformation, and this research will help you understand how to select, implement, and leverage learning technology for competitive advantage. The market will grow by over 10% this year and we expect it to reach $1.9 billion by 2013.
More to come as we launch this exciting research on Monday. You can download the executive summary of the research on Monday at this link.
Or purchase the research and become an expert.