Market Overview:
A learning management system (LMS) is a software application designed for the administration , documentation, tracking, reporting, automation, and delivery of educational courses 3, training programs, materials, or learning and development programs. LMSs make up the largest segment of the learning system market and have faced massive growth in usage due to the emphasis on remote learning during the COVID-19 pandemic. They allow for the delivery and management of all types of content, including video, courses, workshops, and documents. LMSs support a range of uses, acting as a platform for online content, including courses, both asynchronous-based and synchronous-based, and may offer classroom management for instructor-led training or a flipped classroom. Modern LMSs include intelligent algorithms to make automated recommendations for courses based on a user's skill profile as well as extract metadata from learning materials to make such recommendations even more accurate. Overall, an LMS revolutionized the way education and training are delivered and managed, making it more efficient and accessible to many.
In 2021, the Learning Management System Market was estimated to be worth USD 13.7 billion. A compound annual growth rate (CAGR) of 15.20% is anticipated for the Learning Management System (LMS) Market market, which is expected to increase from USD 15.7 billion in 2022 to USD 42.4 billion by 2030. (2022 - 2030).
The learning management system is a web-based application that assists in implementing and administering online training and learning programs. It provides numerous features like a customizable user interface, social learning, mobile compatibility, automation, pre-built and custom courseware and blended learning. It also offers a seamless experience on the front and back, improved efficiency, support for multiple learning methods, and valuable insights. As it is fast, productive, cost-effective and helps to improve learning, the demand for the learning management system market is escalating across the world.
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The increase in the adoption of the learning management systems for online learning and the inline classes to reduce the costs and the increase in convenience act as major drivers for the market. In addition, the increase in the penetration of smartphones coupled with the fast internet connectivity, rise in the preference among the consumers for the learning management systems and massive adoption of this system among the educational institutes accelerate the learning management systems market growth. However, the high prices of courses and unstable internet connections in the remote areas decrease the market's growth. The demand for smart and interactive learning platforms like electronic learning, open online courses, mobile education and online tutorials is rising remarkably with the growing preference for training and learning sessions. The educational institutes adopt tools to support and enhance the learning process and teach efficiencies. At the same time, the novel coronavirus pandemic caused the temporary closure of the entire market sectors around the world. The crisis has dramatically changed the entire education system, and it has escalated the demand for online learning platforms.
Key Players
- Edmodo (California)
- Blackboard, Inc. (U.S.)
- IBM Corporation (U.S.)
- SAP SE (Germany)
- Xerox corporation (U.S.)
- Oracle Corporation (U.S.)
- McGraw-Hill Education (U.S.)
- Cornerstone On-demand, Inc. (U.S.)
- D2L Corporation (Canada)
- Saba Software, Inc. (U.S.)
Market Segmentation:
The global market has been segmented into five basic categories: user-type, deployment model, delivery mode, application, and regional analysis. With the user type, the market is divided into two categories: academic & corporate. According to the deployment model section, the market is further divided into cloud-based and on-premise. By the delivery mode, it is further classified into two sections: distance learning and instructor-led training. As per the application section, the learning management system market is classified into four parts: administration, content management, performance management, etc. With the regional analysis part, the global market has been classified into five parts: Asia-Pacific, Europe, North America, South America and Middle East & Africa.
Regional Analysis:
The driving factor for the growth of the learning management system market in North America is the presence of the learning management system platform pioneers like Docebo and iSpring, which successfully offer services to big and SMEs. The mobile learning initiatives and the policy implications in America indicate that the mobile learning efforts in Canada and the United States are generally school or district-led. North America is likely to hold the market for the learning management system due to the rising of high-tech activities across the entire region. The United States has a large number of colleges and universities. These factors would create huge opportunities for the players to expand their businesses in such a region. The Asia-Pacific is likely to showcase the strongest growth ever in the forecast period. China, India, Japan, Indonesia, Australia and several other developing regions focus on investing in the online education sectors.
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Industrial News:
In February 2020, the Chinese e-learning leaders like TAL Education Group and GSX Techedu had raised around USD 3.2 million to promote e-learning technology across the entire region.
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