Joshn Bersin for Forbes writes: A shoe just dropped in the talent management marketplace. Workday introduced Workday Learning, the company’s new solution for learning management (LMS), career development, video content sharing, and video management. (Workday Learning is scheduled to be generally available in second half of 2016, with early availability starting this year.)
This is a significant announcement for several reasons, and I wanted to share some perspectives on the learning platform market and the potential impact of Workday’s market entry.
The Learning Management Systems (LMS) Market: Big And Growing
Today the LMS market is over $2.6 billion in size and growing rapidly (more than 20% growth rate in 2014) as many companies replace their older training systems. The corporate LMS is typically used to administer and manage the complex business of corporate education, which includes class scheduling, e-learning and virtual training, compliance and regulatory tracking, career and professional development, sale of education products to customers and partners, as well as internal video sharing, expertise networks, and some knowledge management.
Because training is so complex and varies widely from company to company, there are many vendors. Some focus on compliance and global training; some focus on video and content management; others focus on professional development and knowledge sharing. Our research identified than 300 vendors in the market, with a few dominant players (CornerstoneOnDemand, SumTotal, SAP, Oracle, and Saba) each with slightly over 10% market share. SNIP, the article continues @ Forbes, click here to continue reading….