Why are there over 700 LMS vendors?

Why ARE there so many LMS vendors? Why isn’t the market consolidated like, say, the CRM market (Salesforce)? I’m sharing a post by John Leh of Talented Learning that explores the reasons for this market choice/fragmentation (depending on which way you see it). There’s a link to the full article below, but this extract goes quite a way towards capturing the candy-store nature of the current LMS market: Cloud technology…