(MENAFN- EIN Presswire) Learning management systems (LMS) market Size
Learning Management System Market By Component, Delivery Mode (Distance Learning, Instructor-Led Training, And Blended Learning), Deployment, User Type & Region
With a projected CAGR of about 18.4% between 2021 and 2028, the worldwide learning management system market is expected to expand from its 2021 valuation of around USD 14.9 billion.” - Zion Market ResearchFUJAIRAH, EMIRATE, UNITED ARAB EMIRATES, December 8, 2022 /einpresswire.com / -- The global learning management system (lms) market was worth around USD 14.9 billion in 2021 and is estimated to grow to about USD 43.6 billion by 2028, with a compound annual growth rate (CAGR) of approximately 18.4 percent over the forecast period. The report analyzes the Learning Management System market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Learning Management System market.
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Learning management systems were created to detect training and learning gaps. LMSs are mostly used for online learning using analytical data and reporting, but they can also be used for a variety of other purposes, such as serving as a platform for online content, like asynchronous and synchronous courses. An LMS may provide classroom management for instructor-led instruction or a flipped classroom in higher education. Today, intelligent algorithms are used in modern LMSs to produce automatic course suggestions based on a user's ability profile, as well as extract information from learning materials to improve the accuracy of such recommendations.
Learning management systems (LMS) is a software application used for planning, managing, delivering and appraising a learning process. Learning management system solutions use web-based technology to create and deliver content, track and evaluate the performance of users involved in learning the process. By LMS solutions, users can access the learning content and administration anytime and anywhere. Learning management system plays a vital role and acts as a central hub of learning for distributed learners enabling training and information sharing in the complicated process of imparting knowledge.
Browse the full“Learning Management System Market By Component (Solutions and Services), Delivery Mode (Distance Learning, Instructor-led Training, and Blended Learning), Deployment (Cloud and On-Premises), User Type (Academic and Corporate), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at
Market Growth Dynamics
The global learning management system market is growing at a rapid rate. Major factors such as the increase in the necessity for training & education among professionals, growing acceptance of digital learning, as well as cloud services, are fostering the growth of the global market. Further, the increase in the incorporation of e-learning tools by industries especially, healthcare, BFSI as well as government sectors in order to enhance the efficiency of the workforce is adding up to the growth of the market. The growing demand for learning management systems from the education sector is also on the rise with the emergence of Covid-19 pandemic which in turn is also driving the market growth. The rise in the adoption of smartphone devices, growing internet penetration, and the growing trend of bring your own devices (BYOD) are also some of the key factors that are fueling the market growth. Furthermore, the rise in technological advancements including artificial intelligence and the Internet of Things is likely to create several opportunities for market growth during the forecast period. However, the lack of skilled professionals and low penetration of the market in underdeveloped countries may hinder the market growth.
LMS Market Segmentation
The global learning management system market is segregated based on components, delivery mode, deployment, user type, and region. The component segment of the market is bifurcated into solutions and services. Based on the delivery mode, the market is categorized into distance learning, blended learning and instructor-led training. Among these, distance learning segment accounts for a large share in the overall market. By deployment, the market is split into cloud and on-premises. The user type segment of the global market is divided into corporate and academic.
North America contributes more than 35 percent of the share in the global learning management system market. This is attributed to increasing EdTech activities in major countries such as the US and Canada. The number of educational institutes and universities are more in the United States that support LMS market expansion at a significant rate. Asia Pacific is projected to provide ample growth opportunities. Also the LMS market in the region is expected to expand at a rapid rate over the forecast period. Key factors such as availability of E-learning platforms, large student population, increasing inclination of universities & schools towards digitalization, and growing importance of LMS platforms in several industries are likely to boost the regional market growth.
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Major players functioning in the global learning management system market:
Blackboard
Cornerstone OnDemand
SAP
Adobe
PowerSchool
Instructure
D2L
SumTotal
LTG
IBM
Oracle
Infor
Docebo.
Global learning management system market is segmented as follows:
By Component
Solutions
Services
By Delivery Mode
Distance Learning
Instructor-led Training
Blended Learning
By Deployment Type
Cloud
On-premises
By User Type
Academic
Corporate
Also Read: The global artificial intelligence in education market , which was estimated at about 3.51 (USD Billion) in 2019 and is predicted to accrue earnings worth 7.68 (USD Billion) by 2026, is set to record a CAGR of nearly over 46% during 2020-2026.
Recent Developments
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Rising requirement of high-quality education to drive the growth of the learning management system market
Growing requirement of high-quality education is the key reason propelling the growth of the learning management system market. Additionally, the continuous need for constant learning together with cost-efficient and effective approach is increasing the demand for the learning management system market. Nevertheless, lack of degree of customization and integration is anticipated to hamper the growth of the learning management system market.
PowerSchool announced in July 2021 that its class A common stocks will be priced at USD 18 per share on the New York Stock Exchange (NYSE). This would assist the corporation in repaying outstanding debt associated with the IPO.
D2L and Microsoft teamed in December 2020 to integrate Brightspace LMS with Microsoft Teams. By enabling access to a private Teams space on the Brightspace platform, this would improve the learning experience.
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