Growth in Adoption of e-Learning Platform by several industry verticals is anticipated to boost the LATAM-LMS Frontline Worker training market during the forecast period 2020-2025. 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.
LMS-Front line worker training market in LATAM is analyzed to witness notable growth during 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-added 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.
Recent advancements in Learning Management System systems such as Virtual reality in worker training, BYOD, Artificial Intelligence, and so on are set to drive the adoption of learning management system for frontline workers. Moreover, 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.
Brazil holds the major market share in 2019, as it is a developed economy whose GDP is majorly dependent on the manufacturing sector including transportation, industrial, medical and healthcare and so on. 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. With the rapid growth several companies in Brazil have initiated several training programs to their workers through several advanced learning techniques. For instance, FIAT S.P.A in Brazil has invested heavily for a massive training program for their employees including front line workers with advanced eLearning methods. Adding up to this the government of the country also made several rules and regulations to initiate compulsory training programs to the workers in the country. Hence these developments are analyzed to drive the market for LMS- Front line worker training in the forecast period 2020-2025.
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LATAM-LMS Frontline Worker training Market Growth Drivers:
- AI based LMS for Front-line Workers
Artificial Intelligence supports in sustaining up-to-date e-learning trends with great potential in the Learning management system. Similarly it offers unique learning methods by focusing more on human interactions and collaboration. Adding up to this, several industry verticals believe that training their front line workers through AI based LMS enhance the learning capabilities of the workers. In 2019, according to the report given by Oracle, 27% of HR leaders believe that artificial intelligence in employee training will positively impact learning and development. Hence these advantages of AI bases LMS enhance the market 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.
- Increased Demand for Bring Your Own Device (BYOD) for worker training
With rise in adoption of digital technology and increased preference of BYOD, enterprises are focused on implementing LMS over smart phones and other devices for integrated employees training. This trend is witnessing a sharp growth in various organizations in LATAM owing to its advantages of training and assigning tasks to workers from any location. Additionally, Enterprises are also benefited in many ways through this policy, such as enhanced productivity, reduction of operation costs, retention of employees, and better mobility for employees, among others. Hence these benefits are analyzed to drive the market for LATAM-LMS Front-line Worker Training in the forecast period 2020-2025.
In 2019, Cross Knowledge has launched Blendedx which assists in a company's learning transformation by converting the learning process into a group project.
In 2018, Saba developed Saba Video, and advanced features in gamification, recognition, and rewards which enables talent leaders to deliver high-performance, integrated and secure video across every aspect of their learning programs.
The Major Players in this Market Include
The major companies in the LATAM-LMS Frontline Worker training market 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.
Over the years, several companies and industries have focused on giving training to frontline workers and have been investing heavily to train their workers, similarly, several OEM’s are also investing for developing advanced Learning management System solutions to make its user interesting. Learning Management System with virtual reality, Artificial intelligence makes the frontline workers to learn effectively. Hence the continuous developments in the LMS are the major factors set to drive the market during 2020-2025.
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