Pune, India, Dec. 14, 2021 (GLOBE NEWSWIRE) -- The global learning management system industry valued USD 15,292.0 million in 2021 and it is expected to value USD 52669.4 million in 2030 exhibiting a CAGR of 14.7% over the forecast period.
A learning management system (LMS) is a software program that serves as a basis for managing all parts of the learning process simplifying process, storing progress, and tracking training or learning course.
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The high demand for learning management system is on account of increasing concern from organizational leaders to maintain a knowledgeable and productive workforce. This type of technology has granted a solution in form of online courses, allowing educators, students, and professionals to engage without having to be in the same place. Emerging technologies such as augmented reality and virtual reality gadgets, artificial intelligence platforms, big data, and machine learning will enable businesses to provide cutting-edge training to the staff while remaining competitive in the business.
As basic purpose of a learning management system is to enable virtual teaching and learning, it is becoming increasingly popular due to increasing reach of digital media from urban to remote places. Learning Management System have helped increasing number of students and individuals in getting access to quality education. Hence, the Learning Management System market is anticipated to grow significantly with scope for e-learning and online training.
Market Segment Analysis
By Component
On the basis of component analysis, the market is segmented into services and solution. The solution segment is growing at a rapid pace accounting for the largest market share. The growth of the segment is due to the high demand for e-learning solutions. As these solutions caters to various needs of corporate as well as academic institutes, the segment is expected to be the prominent segment over the projected period.
By Learning Mode
The learning mode analysis segment is categorized into distance learning, instructor-led training, and blended learning. The instructor-led training segment is likely to witness fastest market over the projected timeframe. The growth of the segment is due to the availability of option to customize the content. The targeted audience’s preferred learning style remains intact with customization, which also helps to keep training as the priority.
By Deployment
Based on the deployment analysis, the market is segmented into cloud and on-premise. Cloud segment is the fastest growing segment and it will maintain it growth throughout the forecast period. Small educational institutes and organizations are opting towards the cloud based deployment because of its flexible pricing options. The easy to use cloud based technology is driving the growth of the segment.
By User Type
On the basis of user type analysis, the market is segmented into academic and corporate. The academic segment is holding the largest market share over the forecast period owing its increasing need of effective learning tools for providing training to the students. Increasing number of student are using learning management system particularly in the wake of current COVID-19 outbreak all over the world.
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By Region
North America is the holding the highest market share owing to the increasing EdTech activities across various countries in this region. The United States has many universities and colleges which would create many opportunities for the market players to expand their businesses. Not only this but also the increasing use of handheld devices like mobile phones and tablets is also enhancing the market growth. Furthermore, the implementation rate of North America is comparatively higher than the other regions because the organizations in this region are more open as well as receptive to the implementation of learning management system solutions.
Some Recent Developments in the Global Learning Management System Market:
- March 2021: Blackboard Inc. launched its remote learning solution suite named Blackboard United for K-12 for K-12 districts which aims to provide quality virtual teaching as well as learning experience.
- March 2020 – D2L collaborated with Bayfield Design which is an online content development creative services providing company. This collaboration will help the company to provide online course on pandemic at no cost. It will help the educators and learners to under the global pandemic, its risks and how to manage it effectively.
COVID-19 Impact on Global Learning Management System Market
The onset of COVID 19 pandemic has resulted into the temporary closure of schools and other educational institutions. According to the World Economic Forum publicized report, around 1.2 billion students across 186 countries were severely affected by the closure of the schools due to the COVID 19 pandemic. The crisis situation has changed the education ecosystem dramatically by increasing the demand of online learning platforms. The strict lockdowns have enforced the trainers to opt for online learning solutions.
Some Major Findings of the Global Learning Management System Market Include:
- Profiles of major market players operating in the global Learning Management System market, which include Blackboard, Cornerstone OnDemand, D2L Corporation, CrossKnowledge, Adobe Systems, Oracle, Docebo, SAP SE, PowerSchool, Epignosis, IBM, Pearson PLC, SumTotal Systems LLC, McGraw Hill, Absorb Software LLC, G-Cube, iSpring Solutions, Inc., Latitude CG, LLC, Paradiso, and UpsideLMS.
- Impact of COVID-19 on the global Learning Management System market.
Browse key industry insights from the report, Learning Management System (LMS) Market By Component [Solution, (Services {Professional Services, {Consulting, Implementation, Support & Maintenance}, Managed Services)], By Learning Mode (Distance Learning, Instructor Led Learning, Blended Learning), By Deployment (On-Premise, Cloud), By User Type (Academic {Higher Education, K-12}, Corporate {Healthcare, Software and Technology, Retail, Manufacturing, BFSI, Telecom, Government and Defense, Others}) By Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) –in depth analysis along with the table of contents (ToC).
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