Cloud-based training software and learning management systems are applications that deliver, track, and manage all online and instructor-led training programs on the cloud. In a new report, Technavio analysts forecast the global cloud-based training software market to grow to USD 1,571.4 million by 2021, at a CAGR of more than 9 percent over the forecast period.
Not surprisingly, the increased necessity to automate training processes is one of the primary drivers for market growth. “Automating training processes saves time and the data generated by training modules is valued better as it helps in mapping out future projects, augmenting training success rate, and improving processes to increase the ROI,” explains Technavio. “The automated training not only makes training process easier, but can also fuse in other quality processes to improve visibility across processes and result in better communication.”
The 70-page report, Global Cloud-based Training Software Market 2017-2021, also pinpoints three key trends driving the global cloud-based training software:
- emergence of mobile learning
- increasing adoption of gamification in e-learning
- incorporation of social media in training software
Emergence of Mobile Learning
The increasing use of mobile devices in various talent management processes is encouraging vendors to launch training-specific mobile apps and mobile-friendly websites. The increased adoption of smartphones across several organizations through the bring your own device (BYOD) program has encouraged organizations to increase the adoption of m-learning solutions.
“Vendors in the cloud-based training software market have introduced cloud technology that can be accessed with the help of mobile devices and enterprise-wide mobile apps instead of browser apps,” says Ishmeet Kaur, a lead analyst at Technavio for enterprise application research.
Increasing Adoption of Gamification
Gamification is being adopted by a number of organizations to incentivize employees and improve their performance in different areas. Organizations use a reward system and make the use of points, leaderboards, levels, and achievement badges to encourage employees to engage in the desired behavior by taking advantage of humans' general psychological affinity for gaming and playing.
With advances in technology, corporates are looking at e-learning as fun, and offer various games to make learners imbibe necessary skills and achieve the preset learning outcomes. This is creating a huge opportunity for training management software vendors to develop such training software that incorporates gamification features.
Incorporation of Social Media
Cloud-based training software vendors are increasingly incorporating elements of social learning in their offerings. Social learning can be referred to an informal mode of learning through discussions, blogs, posts, and other social learning platforms. Through these social networking sites, learners interact and share content with each other, making the learning process interesting and keeping the learning environment fun, yet professional.
“The availability of social media learning through cloud-based training is encouraging interaction among learners while providing an atmosphere of competitiveness. This is driving the adoption of social media learning solution on a wide scale, thereby driving the market growth,” says Ishmeet.
For a closer look at individual tools in the LMS market landscape, check out Global Cloud-based Training Software Market 2017-2021.