The “LATAM LMS-Frontline Worker Training Market – Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The LATAM LMS-Frontline worker training market is anticipated to reach $228.19 million by 2025 with a CAGR of 14.25% in the Forecast period 2020-2025.
Owing to the growing need of enhancing the skill sets of front line workers to provide better performance in their current positions and also in meeting the need for higher level skills to support higher value-aNAed activities in the economy thereby moving up the organization. More over Stringent Government regulations and initiatives regarding worker training in Latin America and emergence of gamification on a Learning Management System for worker training will accelerate the market in the forecast period. ANAitionally, the recent trends of globalization and consistent improvements in corporate competencies are some of the key factors attributing to the growth of the Latin America LMS-Front line worker training market.
Collaborative learning in LMS-frontline worker training market is anticipated to grow at a CAGR of in the forecast period 2020-2025 as this method of learning help learners to work effectively as a team by allowing them to access prior knowledge, recall information and practise communication skills.
Retail Segment is expected to grow at a highest CAGR of 17.46% during the forecast period. In this industry, LMS-frontline training helps the employees to handle clients by providing the necessary information about new products or services.
Brazil dominated the market by a market share owing to the high presence of presence of manufacturing industries alongside the wide usage of Learning Management System for the front line worker training is analyzed to impact on the significant market share held by the country.
LATAM LMS-Frontline worker training top 10 companies include Blackboard Inc., Oracle Corporation, Kenexa (IBM), Adobe Captivate Prime, CROSS KNOWLEDGE, CANVAS LMS, D2L, cornerstone, Latitude Learning, SABA
Drivers – LATAM-LMS Frontline Worker Training Market
-Growth in Adoption of e-Learning Platform by several industry verticals
Web-based learning platforms have witnessed rapid growth, among the service industry verticals in particular, owing to the easy and flexible learning options. With these flexible learning options several companies are planning to create training programs to their front-line workers with heavy investment expected in the short term. From 2017 Konecta Group, an IT industry in Argentina, has started providing personal and professional development opportunities outside of standard training programs, including career planning to their front-line workers. Similarly, 3M manufacturing company has been announcing several training programs in several regions of Latin America to train their front-line employees to accelerate their business. Hence these kind of training programs are analyzed to drive the market for LATAM-LMS Front-line Worker Training in the forecast period 2020-2025.
-Viral Out brakes such as Corona and other viruses helps in assisting the market growth
Several industries these days are preparing for business interruptions owing to wide spread of viruses such as Corona virus. With the wide spread of these viruses, industries in LATAM have been taking several tactical steps to protect the front line workers by establishing and expanding virtual live learning. They have adopted digital learning tools, which have replaced non tool based training in many sectors. The adoption of these tools in the short is set to have lasting impacts with little switchback to non-tool based training in the future. The use of interactive tools such VR in front line worker training helps to engage the workers in learning the things easily and effectively during the training session from anywhere. Hence these advantages will drive the market in the forecast period 2020-2025.
Challenges – LATAM-LMS Frontline Worker Training Market
-High Cost required for LMS Subscription
The high Cost required for learning platform Subscription, especially for enterprises with huge work force is limiting their adoption. The average cost required for Subscription of LMS Platforms is more than $30 per user per month and the annual licensing fees can be more than 20-25 percent of the initial cost. As huge number of frontline workforce are present in industries such as Manufacturing, Healthcare and Retail sector, so these higher subscription cost becomes an increasing burden for the industries. These industries are thus preferring to utilize non-tool based training, particularly OTJ training in its stead thus limiting the LMS adoption. Hence these high cost subscriptions effect the market growth in the forecast period 2020-2025.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the LATAM LMS-Frontline worker training market. In 2019, the market of LATAM LMS-Frontline worker training industry outlook has been consolidated by the top five players accounting for 55% of the market share. LATAM LMS-Frontline worker training top 10 companies include Blackboard Inc., Oracle Corporation, Kenexa (IBM), Adobe Captivate Prime, CROSS KNOWELDGE, CANVAS LMS, D2L, cornerstone, Latitude Learning, SABA among others.
In October 2018, D2L launched its Magenta Release which lets students around the world get structured and meaningful feedback on any learning activity, helping to improve their learning outcomes.
In February 2020, Cornerstone has acquired Saba to complement its base of learning and skills development products which makes talent experience software
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Laura Wood, Senior Press Manager
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