In its most basic terms, a learning experience platform (LXP/LEP) sits on top of your learning management system (LMS) to create a better discovery experience for your employees. Think of it as the platform that turns your LMS into (for lack of a better comparison) Netflix.
LMS have been around for the last 25 years, first emerging in the mid-90s. These systems were created for management. They focus on HR needs and were built for business compliance and reporting/analytics, and function to catalog management for formal training courses.
LXP have emerged over the last several years. They focus on making content (courses, blogs, videos) easily searchable, and provide personalized learning experiences based on title, function, previous courses, and career goals. It pushes your LMS to be more than a course catalog or learning library.
LXP are not simple or easy systems to build. Many LMS platforms are looking to build out LXP functionality to compete with the growing LXP market, which is currently valued at over $350M. Currently, organizations need both platforms; however, as the LXP market matures, there is sure to be blurring of the lines between the two.
Over the next few years, the lines between LMS and LXP platforms will continue to blur through mergers and acquisitions, and as LXP firms develop LMS and vice versa. The market will be hyper competitive as most companies will want to simplify and only have one vendor that can do both.