The global LXP market is anticipated to grow to at approximately $9 billion by 2028 and the LMS market is projected to reach a market share of $43.6 billion by 2027. With such expansive growth, selecting the right platform to deliver effective L&D for upskilling programs requires careful consideration.But before we move ahead, let’s look at what exactly these two learning platforms are.
What is an LXP?
An LXP is a comparatively newer entrant in the learning market that focuses on offering a more adaptable and personalized learning journey, tailoring itself based on the learner’s choices. While some believe the inception of the first LXP products dates back to nearly a decade ago, the widespread attention surrounding them only gained momentum roughly four or five years ago.
Focussed on enhancing the content delivery experience, LXPs create an engaging and comfortable environment for learners who are interacting with your training content. Modern LXPs harness the power of artificial intelligence (AI) to provide recommendations tailored to individual learners.
What is an LMS?
On the other hand, the LMS has been the traditional go-to choice for many organizations and is a platform that provides a structured and controlled learning experience. As the name suggests an LMS is commonly employed to organize, administer, and manger users’ learning experiences, with a primary focus on formalized learning processes such as certifications and compliance training.
Training Industry defines LMS as “a system designed for the administration, delivery, tracking and reporting of learning and development initiatives.”
Even though commonly marketed as standalone products, the LXP and LMS are more accurately looked at as a collection of features.