Top 20 reports are updated annually. This post was updated on 10/3/2018.
Capterra has helped many people with their software purchases over the years, and one of the most common approaches we’ve witnessed is to begin by looking at the most popular products on the market.
There is both a right way and a wrong way to do this.
The wrong way is to determine what you deem to be the two or three most popular and then use that as your shortlist, from which you do not deviate.
Why limit yourself to two offerings when there are so many other viable options?
The more sensible way is to begin with a longer list of market leaders and narrow that down based on your requirements and needs. Then, find other alternatives that may be lesser known but possibly a better match for your overall needs.
There are great products on the market that are either too new or too niche to have a high market share or win any sort of popularity contest.
Capterra’s “Top 20 Most Popular” infographic series is our attempt to help those buyers who take this approach to do so successfully.
There are two reasons why we decided not to create a typical market share report. First, product pricing can have a huge impact since revenue is usually the sole component of market share. Focusing on users and/or customers removes price from the equation.
Second, most software companies are private and are very hesitant to disclose their revenue. Even public companies don’t break down their revenue by product line. This means that creating an accurate view of market share would be difficult, if not impossible.
We settled on three components for our popularity index:
- Number of customers (40%)
- Number of end users (40%)
- Online presence (20%)
Each of the three overall components is flawed, but all three together help compensate for the individual flaws; the end result is what we believe to be the best measure of overall popularity within a given software sector.
We begin our LMS research by scouring the web for all mentions of leading LMS solutions. We also use Capterra’s LMS software directory to find which vendors have received a high number of reviews.
We also run a check of the 500+ vendors in our directory to see which ones have the highest amount of web traffic according to third-party estimates. This results in an initial list of more than 50 LMS vendors.
For each of these vendors, we attempt to find their revenue and number of users online before calling them to verify. They are surprisingly accommodating and much of the data we collect is not published anywhere, which means that a significant portion of our research is original.
The data points we collect to measure online presence include Twitter followers, Facebook likes, LinkedIn followers, and customer reviews on Gartner Digital Markets sites (Capterra, GetApp, and Software Advice).
Once we compile all of the data, we rank the vendors within each component. Our calculation of overall scores blends their raw totals with their ranking in the top 20 and weights the two equally.
The table below shows the hard data (Capterra-generated estimates are highlighted in orange):
One final note: Some of the vendors provided “lowball” estimates of their users or customers, so please take all of these data points with a grain of salt. And given how dynamic the LMS market is, we intend to update this report on an annual basis.
Looking for Learning Management System software? Check out Capterra's list of the best Learning Management System software solutions.