In 2022 education has almost fully transitioned into online learning. Different factors caused such a shift, but the changes were irreversible. Now people can’t imagine their workspace without online learning tools. To make the transition from traditional ways of studying to edTech smooth, you need a professional Learning Management System.
The Learning Management System is in charge of managing online learning, creating online classes and storing all the necessary information for a student. LMS has become really irreplaceable in today’s world, as all the educational institutions use it. However, not only schools and universities are interested in online learning system. Employees need it as well, because this practice is in demand in many enterprises.
It’s not a surprise that cost of Learning Management System is getting higher each year. Of course, it depends on different factors, such as region where development takes place, your own demands, situation on the market and so on. There are also different LMS pricing models. But the overall tendency shows that Learning Management System cost will only be increasing.
This guide will tell you everything you need to know about Learning Management System price, how to develop LMS software, what are different types of LMS and, of course, will show you pricing comparison. So if you feel you are in, scroll down!
Actual Cost Of A Learning Management System
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The actual price of Learning Management System can be different depending on your needs. If you are a beginner, the approximate LMS development price will be $55 000, you don’t even need to pay for the license. However, LMS system cost for a growing business is much higher. The approximate cost for you will be $115 000. As you can see, the difference between LMS for startups and LMS for enterprise is really significant. Moreover, if you develop from scratch, the cost of LMS systems development will be even higher and can even hit $600 000.
It is visible that Learning Management Systems cost is the lowest if you use open-source technology. The reason why it is one of the most popular ways of creating LMS is that it gives you advanced features for free. You can use these features however you like, according to your demand. This is the best way of creating LMS for beginners who are only starting to dive into software development.
Cost of different types of Learning Management Systems
Another factor that influences the cost of LMS development is different types of LMS. There are many of them, but in this article we will consider the most popular ones. These types are the most commonly used by startuppers and big enterprises equally. Depending on what business you are developing your Learning Management System for, the price will also differ.
This type of LMS should be installed on your server. The good aspect of this type is that you can customize every aspect of your software. Moreover, it’s much safer to store all the necessary information. However, all these conveniences require higher costs, as your team becomes fully responsible for maintaining and upgrading your learning platform.
To reduce your costs, there is a great alternative, and it’s web-based LMS. It is also called Software as a Service LMS. High installation fee isn’t required anymore, as you have free access from any browser. Still, web-based LMS require a monthly fee, but in general this type of LMS is much more cost effective.
One of the most affordable types of Learning Management Systems is open-source LMS. It offers open-source code, so it’s quite convenient to anyone with technical knowledge to create e-learning courses, customize and modify them. You don’t have to pay an expensive fee to use this LMS type, all the features are also absolutely free.
Of course, Learning Management System prices differ not only due to different types. If you use one of these LMS types for startup, the price will be lower. Medium businesses require medium prices, and big enterprises ask for higher costs. This rule works regardless of the type of LMS you choose.
Cost of Learning Management Systems main components
Typical Learning Management System consists of two main parts: admin interface and user interface. To create top-notch LMS, you have to develop these two components, as they are the basis you need. So how much does it cost to develop LMS when it comes to its core elements?
The main principle of admin interface is that the training manager is responsible for all the back-office tasks. With the help of them it’s easier to organize the company’s learning programs. It becomes possible to create and deliver different courses, automate notifications and engage new learners. The price of an admin interface can vary from $2000 to $8000.
User interface runs inside your browser. It’s exposed to learners who are engaged in your course. The interface should draw attention and be easy for usage. This is really important for your project’s future potential. To create the best user design you need to pay $100-$150 per hour.
Custom Learning Management System price
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Of course, the basic principles for developing a Learning Management System are in general the same. Still, if you want to create a unique project you may need some additional features. It’s not a secret that custom LMS is more expensive as it includes many individual decisions. Let’s take a look at some of them.
There are features that don’t take long to develop and therefore their cost is lower. For example, rate and review instructors, different payment options, surveys of eligibility and so on. But there are also features that require greater expense and their duration is longer as well. Advanced certification, creating practice tests, integration with accountancy systems, subscriptions for mass learning etc. All these features can really upgrade your product, but you should take the higher price into consideration.
Cost of LMS development in different companies
Not only different types of Learning Management Systems and special features determine the price of LMS. The cost also depends on the company and the country. Some companies can offer really affordable prices, while others require big investments. You should choose a company that is comfortable for you to work with and whose price policy satisfies you.
LMS development and web development in general is the most expensive in the USA, in Europe the prices are lower, and Asia and India are the most affordable, however, the quality leaves much to be desired.
Inoxoft has a great experience in creating LMS platforms from people all around the world. Our clients are not only pleasantly surprised by our devotion and top-notch LMS solutions, but aso by our affordable prices. If you are interested in creating your own Learning Management System, Inoxoft is the company you are looking for.
Learning Management Systems are extremely important in today’s educational world. With the help of it, you can create online courses, store all the necessary data and engage learners all around the world. The creation of LMS can bring you a lot in perspective, however, firstly you have to invest in your Learning Management System.
The price of LMS can vary due to different factors. There are different types of LMS: some of them are quite expensive, and others can be available to anybody. Depending on the features you want to include in your project, costs can be different as well. Of course, different companies and countries offer a wide range of prices – it’s up to you to choose who to cooperate with.
It’s clear that the creation of a quality product means investing. If you consider every aspect of your Learning Management System development, you will surely be satisfied with the result.
Consider Inoxoft as Trusted Partner for Your Startup Project
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Inoxoft is a worldwide software development company that delivers top-notch software solutions. We specialize in building LMS software that will stand out and provide you with the best user experience.
Our company provides the best LMS development services. With our help you will know how to build a learning content management system and will discover more about types of LMS. With Inoxoft it’s easier to make your business plans come true.
If you are looking for a reliable partner to help you create the perfect Learning Management System, Inoxoft is the best option for you. Contact us and become one step closer to your dream!