A
learning experience platform (LXP) provides a personalized, social, online
learning experience for users, typically employees at large enterprises. It
consolidates disparate learning resources into a single portal. A learning
experience platform is a cloud-based offering that delivers a personalized
learner experience to employees. The platform combines internal digital
learning assets of a company with publicly available online learning content
and user-generated content to provide a holistic, comprehensive and
individualized e-learning experience. Simply put, a learning experience
platform enables continuous learning. It allows employees to learn on the go
through mobile apps, helps employees progress in their careers by closing skill
gaps, matches them up with mentors, encourages employees to invest in their own
growth and allows them to deliver peer-to-peer knowledge. LXP supports both
online and offline learning and can be deployed on cloud or on-premise.
Depending on business requirements, content delivery can be blended and divided
between online and offline modes. LXP are able to deliver the software with an
easy setup through cloud, or an on-premises solution.
A learning experience platform (LXP) enables healthcare companies to deliver employee training cost-effectively and right at the point of need. Employee training software such as LXP can help these organizations save on training and enable them to continue to offer learning and development opportunities throughout the pandemic. The ever-evolving business environment in the BFSI sector and the constant challenges it faces make the imperative need to provide effective e-learning solutions. Today, banks and other financial organizations face the pressure to engage employees, boost their knowledge level and impart training aligned to the diversified learning needs. LXP has proved to be a potential solution to address these challenges. Despite all the huge demand and all the scientific breakthroughs related to chemistry, there is a substantial lack of skilled chemists and technicians in the industry. LXP can be the catalyst that will enable the mass scale, cost effective, and flexible solution to this training demand to introduce new chemical processing machinery or new raw materials, to teach employees the production process for a new product and inform them of the associated safety guidelines. It is more important than ever for companies working in the construction industry to provide training for their employees, so that they can support motivated workers who may lack the necessary skills to excel. This is because the construction industry is facing a skills shortage in many countries around the world, including the US, the UK and Australia. That is bad news for construction companies. LXP also offers more flexibility, allowing the student to learn at anytime from anywhere they have an internet connection.
The COVID-19 Stimulates the Demand for Learning Experience Platform Software, Driving Industrial Growth
Amid COVID-19 pandemic cloud and internet technologies are keeping our world running. People are completely dependent on online services for their essential and non-essential needs. To make this virtual world as real, efficient, and impactful as possible, the demand for robust cloud infrastructure is booming. For the Learning Experience Platform (LXP) Software industry, demand for LXPs was strong even before the pandemic. That growth accelerated almost overnight when COVID-19 shuttered offices and sent employees home to work. Meanwhile, in the healthcare industry, the coronavirus pandemic has caused upheaval in the healthcare sector. Healthcare organizations of all kinds are implementing major changes at a rapid pace, making healthcare training more critical than ever before. Ongoing employee training, even in the midst of the COVID-19 pandemic, promotes collaboration by upskilling staff and giving each team member access to the learning resources they need to function effectively in their job role. In addition, the rapid move to remote work due to the global pandemic supercharged a shift that was already happening in education technology. With their ability to rapidly create and rollout individualized learning pathways to a distributed workforce, learning experience platforms are well positioned for the post-COVID-19 world. In a word, the COVID-19 pandemic has enhanced the demand for virtual tutoring, video conferencing tools, language apps, online learning software, and is, in turn, flourishing the Learning Experience Platform (LXP) Software market growth, which is conductive to the development of the industry.
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North America is the largest revenue market, with a market share of 61.15% in 2019. As the first country affected by the epidemic, socio-economic development of China is seriously threatened. However, due to the particularity of the learning experience platform industry, it just caters to the market demand for home learning and office, so the revenue in 2020 will not decrease, reaching 13.22 M USD and the rate of increase is accelerating.
Companies that want to stand out in this tough job market and keep their employees engaged need to invest in a learning experience platform. Providing their teams with improved learning opportunities will not only enable them to attract and retain top talent, but also ensure that their workers continue to expand their skill sets. To maintain top talent, companies need to constantly engage employees by offering them valuable personal growth and learning opportunities. In the age of the social enterprise, organizations will realize that creating and maintaining a culture of lifelong learning is not just part of their mission and purpose, but is what gives their workers meaning both in and out of the workplace. Rapid and ongoing changes in the nature of work itself are changing the relationship between learning and work, making them more integrated and connected than ever before. This creates a challenge and an opportunity to build robust work-centered learning programs, helping people consume information and upgrade their skills in the natural course of their day-to-day jobs. One of the most effective ways to provide access to learning content and tools is through a learning experience platform. The increase in demand has brought opportunities to the development of the industry and has a positive impact on the development of the LXP software industry.
LXP and conventional approaches to digital transformation largely embraced the digitization of existing content and processes. That typically meant converting what is already there and giving users a new experience by wrapping the existing with new digital user interfaces. But new technologies, like Data Analytics, Artificial Intelligence (AI), Virtual Reality (VR) and Augmented Reality (AR), have changed all of that. These new-era developments have drastically changed how content is produced – especially in a learning context. The availability of high-speed data transmission, higher-quality chips and processors, cloud computing services and mass storage solutions have opened new venues for content producers to channel their creativity. As a result, learning platforms too have embraced those opportunities to deliver newer experiences to their constituents. But revolutions in technology have also meant that it is now a lot easier to create content – usually of higher-quality than before. And because innovations in technology have made scaling content creation more practical, content is produced more cost-effectively as a result, which has a positive impact on the LXP software, and is conducive to the development of the industry. It is expected that the global learning experience platform software industry will develop rapidly in the next few years, and the market value of the industry is expected to reach 4,427.85 M USD by 2025.
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