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.”