Global Learning Experience Platform (LXP) Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Learning Experience Platform (LXP) Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

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. These customizable solutions help companies provide their employees with personalized and intuitive learning experiences. LXPs are sometimes called Netflix-style learning because relevant content is easy to locate and use from computers and mobile devices. LXPs provide companies with learning libraries that include access to internal and external course catalogs, videos, podcasts, blogs, articles, and so on. LXPs allow employees to access relevant content via adaptive learning paths for personalized skill development.

LXPs are single-point-of-access, consumer-grade systems composed of integrated technologies for enabling learning. They can do many tasks, such as curating and aggregating content, creating learning and career pathways, enabling networking, enhancing skill development, and tracking learning activities delivered via multiple channels and content partners. By delivering on a central platform, LXPs enable businesses to provide an engaging and learning-rich experience.

Market Overview:

The latest research study on the global Learning Experience Platform (LXP) market finds that the global Learning Experience Platform (LXP) market reached a value of USD 2121.13 million in 2023. It’s expected that the market will achieve USD 8438.29 million by 2029, exhibiting a CAGR of 25.88% during the forecast period.

Enterprise development drives the use of Learning Experience Platform (LXP)

The development of enterprises has put forward new requirements for the technical capabilities of employees, including new requirements in terms of knowledge, ability, and attitude. The knowledge granted by the school may not enable employees to meet the continuous development requirements of the enterprise, which requires employees to learn independently and improve their abilities. The development of enterprises drives the application and development of Learning Experience Platform (LXP) in enterprises.

Outstanding advantages of the Learning Experience Platforms

One of the fundamental features of LXPs, that sets them apart from LMSs, is that they include sophisticated content discovery capabilities. Learners aren’t restricted by canned catalog content but can seek out interesting content for themselves, while also being guided towards relevant content by the platform.

Here are some other characteristics that set LXPs apart from LMS’s:

Extensive integration capabilities: Extensive integration capabilities that enable connection to a much-varied set of ecosystems through which learning can be furthered. For example, LXP-LRS integration can help deliver insightful information (trends and patterns) – through data analytics – that can aid in personalizing learning even further. Integrating AI with LXPs can enhance learning experiences even further. Communication widgets and gadgets, like Learning Bots, can help customize unique learning paths for employees and serve as personalized learning assistants.

Rich learning experience through deeper personalization: The ability to provide a richer learning experience through deeper personalization and more wide-spread learning opportunities. By integrating with other platforms – Google Services, YouTube, Social Media, Communicational tools e.g. communication leader Slack – LXPs extend the learning experience beyond the corporate learning system.

Supports various types of learning: Supports various types of learning, including problem-based learning, group-based learning, ILT, blended learning, through approaches such as Microlearning, Gamification and Adaptive Micro Learning.

Overall, when compared to LMSs, training delivered through LXP’s tend to be more responsive, individualized, contextual, and ubiquitous in delivery. As a result, LXPs deliver highly immersive learning experiences to users of the platform. The powerful functions and benefits of LXP software drive consumption, which is beneficial to the development of the industry.

Region Overview:

In 2022, the share of the Learning Experience Platform (LXP) market in United States stood at 42.35%.

Company Overview:

The major players operating in the Learning Experience Platform (LXP) market include Cornerstone, Degreed, Udemy Business, SkillSofta, LinkedIn, etc. Among which, Cornerstone ranked top in terms of sales and revenue in 2023.

Cornerstone OnDemand, Inc. (Cornerstone) carries out developing software solutions. The company’s software products include recruiting, learning, development, performance, content and HR administration. Cornerstone also offers sourcing, onboarding, training, competency management and transformation services It caters these services to business services, energy and utilities, the federal government, financial services, healthcare, higher education, hospitality, K-12, life sciences, manufacturing, nonprofit, retail, state and local government, and technology and media sectors.

Segmentation Overview:

By type, Cloud-based segment accounted for the largest share of market in 2022.

Simply put, the difference between on-premise vs cloud software is the location. On-premise software is installed and runs on a company's own hardware infrastructure, and is hosted locally, whereas cloud software is stored and managed on the provider's servers, and accessed through a web browser or other interface.

Application Overview:

By application, the IT＆Telecom segment occupied the biggest share from 2018 to 2022.

Government and Education

A government is the body, entity, invested with the power to manage a political unit, organization or more often, a State. Education means early childhood, basic school and high school education comprising a range of full time instruction and activities. Learning Experience Platform (LXP) is used in government agencies and school education.

Healthcare

Health care, or healthcare, is the improvement of health via the prevention, diagnosis, treatment, amelioration or cure of disease, illness, injury, and other physical and mental impairments in people. Health care is delivered by health professionals and allied health fields. Learning Experience Platform (LXP) is used in Healthcare.

BFSI

Banking, financial services and insurance is the industry's umbrella term for companies that provide a range of such financial products or services. This includes universal banks that provide a range of financial services or companies that operate in one or more of these financial sectors. Learning Experience Platform (LXP) is used for BFSI aspects.

Chemical

The chemical industry comprises the companies and other organizations that develop and produce industrial, specialty and other chemicals. Learning Experience Platform (LXP) is used for the Chemical side.

Construction

The construction sector comprises establishments primarily engaged in the construction of buildings or engineering projects (e.g., highways and utility. Learning Experience Platform (LXP) is used for Construction.

IT and Telecom

The telecommunications sector consists of three basic sub-sectors: telecom equipment (the largest), telecom services (next largest), and wireless communication. Information technology (IT) is a set of related fields that encompass computer systems, software, programming languages and data and information processing and storage. The three major industry groups within the IT sector are software and services, technology hardware and equipment, and semiconductors and semiconductor equipment. Learning Experience Platform (LXP) is used in IT and Telecom.

Key Companies in the global Learning Experience Platform (LXP) market covered in Chapter 3:

SkillSofta
Fuse
Thrive
360Learning
Cornerstone
IBM
Degreed
Udemy Business
LinkedIn

In Chapter 4 and Chapter 14.2, on the basis of types, the Learning Experience Platform (LXP) market from 2019 to 2030 is primarily split into:

Cloud Based
On Premises

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Learning Experience Platform (LXP) market from 2019 to 2030 covers:

Government＆Education
Healthcare
BFSI
Chemical
Construction
IT＆Telecom

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)