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LCS serves as an excellent means to deliver multimedia and interactive course content to today’s generation of digitally connected students and workforce. The need for this shift in learning/teaching methodologies is the result of changing expectations from students and their parents, regarding educational institutions and of growing stringent compliance requirements in high-risk industries where employee learning can be mission critical to organizational success. Overall, the LCS market revenue grew by a mere 0.3% but is expected to show strong growth with a CAGR of 13% (2018-2023). This growth is as a result of seismic shifts in the technological demands of students and employees, growing institutional adoption of online programs to increase student enrollment and meet employee training needs, increasing use of multi-source video capture to enrich user experience, and deeper in-video metadata schema to improve searchability. Growth in the market is expected from the emergence of new use cases, increased penetration of the K-12 and SMB markets, growth in AI to create personalized learning, and the use of predictive analytics to improve learning outcomes.
This research service covers the following:
The base year of the study is 2018, with forecasts running up to 2023. The research highlights key trends impacting the global LCS market and outlines future implications. These trends include use of predictive analytics to identify at-risk students and improve learning outcomes, hyperconnectivity bridging the digital divide, and growth of lifelong or continued learning.
Geographical Segmentation: The global market has been segmented into North America, Latin America (NALA), Asia-Pacific (APAC), and Europe, the Middle East, and Africa (EMEA).
Key Issues Addressed
Readers who can benefit from the content found in this research include LCS vendors; EdTech vendors including LMS, MOOCs, Big Data, and device vendors; business organizations; educational institutions; government; and healthcare agencies that are end consumers of LCSs and anyone looking to venture into the LCS market.
Author: Deviki Gupta
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