The LMS industry strides alongside globalization, still new, expanding, and full of promise and potential. Competitors include the smaller LMS product vendors, enterprise resource planning vendors, consulting firms, and training outsourcing firms. 

However, there are many shortcomings for the industry to overcome, and opportunities for smaller product vendors to tackle those problems and compete in the rapidly growing market. An LMS is a big and complicated tool, and requires a great deal of attention to accessibility in its design.

According to the ASTD and the eLearning Guild, LMS buyers report general dissatisfaction with the products. Poll respondents of the eLearning Guild also noted problems including high prices, IT support, integration, and customization. Those who work daily with an LMS give significantly lower satisfaction ratings than the directors and managers who receive the results and reports.