Learning Management Systems –  A Growing Market of Today

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The Internet era has revolutionized different industries and has introduced a digital practice widely known as eLearning. The beneficial impact of eLearning is shown by market research predicting an astonishing market value growth from  $9.2 billion in 2018 to $ 22.4 billion by 2023.[1]

 

The North American market is deemed more receptive and inclined to implementing eLearning. The U.S and Canada are believed to have integrated LMS systems to ensure the improvement of educational methods. A traditional approach to learning processes is not suitable for today’s students/employees; contemporary solutions are mandatory in facilitating the required knowledge/skills, especially for tech-savvy generations. The education industry must keep up with the needs of the youth – interactive approaches while pursuing knowledge.

 

Various reasons have driven the escalation in value, including the necessity to educate and train a large number of people in an efficient and convenient matter, with less time-consuming training sessions (the Brandon Hall Group’s HCM Outlook Survey[2]  conducted in 2017 noted that eLearning can decrease employee training time up to 60% as the process is performed directly at the workplace. Globalization has caused a significant increase in employee training and established constant development as a modern principle. Versatility is a core feature of eLearning as it enables customization of different learning/testing requirements. Companies have realized the flexibility eLearning provides; as a result, 72%[3]  of firms believe this is the main factor in outperforming business competitors.

 

 

The dynamic nature of modern businesses combined with the fast-paced market represents a serious issue among employers. The eLearning methodology ensures keeping the employees updated with the latest trends and requires a practical solution that provides continuity in gaining current knowledge. Being perceptive to rapid changes dictated by digitalization is imperative in the workplace of the 21st century.

 In addition, eLearning is an adequate solution for more introverted employees. Simultaneously, trainees are more likely to avoid uncomfortable situations if they fail to answer a question or present a solution for a particular business problem. The key to eLearning implementation is an adaptation to the needs of employees/students (digital learning will eventually become the primary approach in education).

As a result of the eLearning market expansion, learning management systems (the power systems behind eLearning)  have proven to be crucial in expanding digital learning in diverse industries: government institutions, startups, enterprises, etc. LMS is a software application based on web technology for creating specific content, evaluating user performance, and managing the learning process. Scalable results, tracking, and reporting is automatic and in real-time.

Driven by the progress in eLearning, YouTestMe was created as an innovative software testing platform delivering numerous features and options suitable for both corporate and academic learning/training:

Test Creation,

Test Management

Test-taking,

Item Authoring

A Sophisticated Reporting System

Automated Certification

Automated Proctoring

API

Safe Exam Environment

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References:

[1] https://www.marketsandmarkets.com/Market-Reports/learning-management-systems-market-1266.html

[2] https://www.brandonhall.com/blogs/brandon-hall-group-research-published-june-5-june-11/

[3] https://elearningindustry.com/top-elearning-statistics-2019