Chicago, March 09, 2023 (GLOBE NEWSWIRE) -- The global Learning Management System Market size is expected to grow from USD 18.7 billion in 2022 to USD 43.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.4% during the forecast period, according to a new report by MarketsandMarkets™. The presence of many LMS providers has made the market competitive. LMS provides several benefits such as centralization and easy management of eLearning content, mobility, and accessibility to learning content anytime and anywhere, reduced cost of learning and development, performance tracking of learners, and scalability for the future.
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Scope of the Report
|Market size available for years||2022-2027|
|Base year considered||2021|
|Forecast units||Value (USD Million/USD Billion)|
|Segments covered||By Component, Delivery Mode, Deployment Type, User Type, and Region|
|Regions covered||North America, Europe, Asia Pacific, Middle East & Africa, and Latin America|
|Companies covered||Blackboard Inc. (US), Cornerstone (US), D2L Corporation (Canada), Moodle (Australia), Instructure Inc. (US), PowerSchool (US), IBM (US), Infor (US), Adobe (US), LTG (UK), Google (US), Oracle (US), SAP SE (Germany), Docebo (Canada), LearningPool (UK), LearnWorlds (UK), TalentLMS (US), Acorn LMS (Australia), and more.|
The LMS Market has been segmented by component into solutions and services (consulting, implementation, and support). The solutions segment is estimated to account for the largest market share in 2022. These solutions help educational constituents cooperate using a single online learning platform. They further help in the management of content and facilitate the integration of all constituents in the learning lifecycle.
The services segment is further divided into consulting, implementation, and support services. The support services are expected to hold the largest market size during the forecast period. With support and maintenance services, users get a thorough idea of systematic procedures related to the deployed solution. Service vendors provide online and onsite support and maintenance to users so that they can use the deployed solution in a better way.
Based on delivery mode, the LMS Market has been segmented into distance learning, instructor-led learning, blended learning. The instructor-led training mode held the largest market size in 2022. When Instructor-led training is conducted over LMS, it allows the trainer to build assessment sections into the training program. These assessment sections are electronically conducted, which stores all learners’ responses in the backend of the LMS, where it is processed into a meaningful report and presented to trainers. Various companies have started implementing these solutions as an alternative to classroom-based training for recruits. This not only helps save time but also reduces the cost of training material and stationaries.
The cloud deployment type is expected to hold the largest market share. Cloud-based learning management system is a system that is accessible via the internet. It is hosted on an online server, making it accessible from anywhere and at any time, with the correct URL and login credentials. Cloud infrastructure provides better flexibility to trainers as well as learners with cost-efficient infrastructure.
Based on user type, the LMS Market is divided into academic users and corporate users. The academic users segment accounts for largest market size during the forecast period. LMS is used in academics to improve the efficiency of the learning process. This helps streamline the education process by enabling mobility, interaction, and real-time teaching. Nowadays, various universities are using LMS to improve academic performance. The use of mobile phones and smart devices has increased significantly in the young generation, thus boosting the LMS Market for academic users to grow.
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Based on academic user type, the LMS Market is divided into k-12 and higher education. The higher education segment accounts for largest market size during the forecast period. LMS is used in higher education to simplify the learning process. The popularity of online education or distance learning has been on the rise in recent years. Given the potential of e-learning in higher education and its broad range of possible implications for institutions and learners, governments might be expected to take a keen interest in it.
Based on corporate users type, the LMS Market is divided into software and technology, healthcare, retail, BFSI, manufacturing, government & defense, telecom, and others (energy & utilities, transportation & logistics, and travel & hospitality). The software and technology segment accounts for the largest market size during the forecast period. As companies in the software and technology vertical experience rapid technology changes and constant innovations, they require a solution that can quickly respond to new challenges, offer scalability to thousands of learners, and cater to the learning needs of employees in different locations and countries. The solution also needs to be cost-effective, provide automatic updates, and offer the option of centralized resources.
Asia Pacific is projected to witness the fastest growth rate in the coming years. Asia Pacific has witnessed the advanced and dynamic adoption of new technologies and is projected to record the highest CAGR during the forecast period. With the increasing adoption of cloud technologies and the rising amount of business processes, there has been a significant rise in the adoption of container services. China, Singapore, Australia and New Zealand (ANZ), and Japan are the major countries that witness high growth rates in this region. Asia Pacific is one of the fastest-developing regions globally, making the region highly profitable for the LMS Market. It is projected to be the fastest-growing market, owing to the rapid adoption of LMS solutions. Japan and China, being two of the most technologically advanced countries in the region, are the undisputed leaders in the LMS Market. Government initiatives to promote the digital infrastructure are responsible for driving the adoption of video conferencing solutions in the region. Asia Pacific is projected to witness enhanced growth opportunities during the forecast period. Countries in the Asia Pacific are considerably contributing toward the market's growth, owing to the rapid adoption of various LMS solutions by enterprises in the region.
Some of the major vendors offering LMS globally include Blackboard Inc.(US), Cornerstone (US), D2L Corporation (Canada), Instructure Inc. (US), PowerSchool (US), IBM (US), Infor (US), Adobe (US), LTG (UK), Google (US), Oracle (US), SAP (Germany), Docebo (Canada), Learning Pool (UK), LearnWorlds (UK), Talent LMS (US), Acorn LMS (Australia), MyLearning Hub (UK), LearnDash (US), Touvti LMS (US), 360Learning (France), Epignosis (US), LearnUpon (Ireland)], SkyPrep (Canada), Absorb LMS (Canada), CrossKnowledge (France), Seismic (US), Axonify (Canada), BizLibrary (US), Thinkific (Canada), iSpring (US), Blue Sky eLearn (US), Trakstar (US), DigitalChalk (US), KMI Learning (US), and Moodle (Australia).
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