Learning Management Systems playing a vital role as a central hub of learning for disseminated learners enabling training, information sharing, and knowledge development.
Learning management systems are generally used by academic organizations and companies to manage, track, and deliver courses and training programs. It is one of the fastest growing software sectors over the last decade, now a billion dollar plus business with hundreds of competing offerings. Worldwide Market Predictions and Analysis (2013 - 2018)" estimates that the LMS market will grow to $7.83bn by 2018. LMS offers flexible and continuous learning platform for self-improvement.
Another report forecasts compound annual growth of 25.2% per annum and almost 50% of all LMS revenue was generated from the US. This growth has been determined in part by the adoption of Software as a Service (SaaS) LMS delivery models. A significant growth in the field is seen in the Asia-Pacific and Latin America regions during the calculated period.