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global Learning Management System (LMS) market size was USD 14.15 Billion in 2021 and is expected to register a revenue CAGR of 14.1% over the forecast period.
NEW YORK, NY, UNITED STATES, June 30, 2023/EINPresswire.com/ — The global Learning Management System (LMS) market size was USD 14.15 Billion in 2021 and is projected to achieve a revenue compound annual growth rate (CAGR) of 14.1% during the forecast period. The increasing demand for interactive and engaging courses, Massive Open Online Courses (MOOCs), effective learning assessments, and the implementation of Bring Your Own Device (BYOD) strategy are driving the revenue growth of the learning management system market. The learning management system is specifically designed to assist individuals in developing, managing, and delivering online courses and programs for learning purposes. It provides a convenient platform for students and instructors to learn and showcase their skills. According to research, the estimated number of LMS users is 73.8 million in 2022, with 7% of active users engaging in web-based learning management system programs. One notable feature of learning management systems is the centralized platform that houses all the necessary course materials for a particular course.
The use of learning management systems in e-learning is a growing trend as educational institutions and edutech startups explore modern approaches to teaching, learning, and training. Learning management systems facilitate student assignment uploads and assessments all within one platform. The integration of Artificial Intelligence (AI) in the software allows learners to discover new content, share ideas and knowledge, and personalize their training experience. Online training also provides convenience for instructors to distribute resources to all students by simply uploading them to the learning management system. The increasing demand for MOOCs presents lucrative revenue growth opportunities for learning management system providers, and the adoption of MOOCs is expected to surpass the use of traditional learning methods for skill development.
The deployment of learning management systems is a popular business trend driven by emerging edutech companies. Various venture capital firms are actively investing in the expansion of e-learning businesses. According to research, venture capital-backed companies in the education sector raised over USD 20 Billion in 2021. With more investments in technology infrastructure for e-learning, the learning management system market is poised for robust revenue growth.
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Further key findings from the report suggest
The LMS market is growing at a CAGR of 3% in Asia Pacific due to the rapid industrialization, urbanization, and digitalization of the developing countries and the increased use of digital learning in developing countries such as India, China, and Singapore.
Global modernization and emergence of technologies like the AI and ML, IoT, has increased the use of electronic devices like smartphones, tablets, and laptops in the education and eLearning industry which is expected to increase the use of LMS and expand its market size.
Governments and the regulatory bodies are implementing various regulations and compliances to enable basic education for all. This has encouraged the institutions and various bodies to implement LMS for better utilization of the infrastructure and resources. It is expected this factor would help the LMS market grow.
The cloud deployment model is expected to dominate the LMS market owing to its low-cost implementation and flexible subscription models suitable for the end-users.
The K-12 academic end-user is estimated to hold the larger market share in the academic LMS due to the increasing use of handheld devices and digitalization of the learning industry
The telecom and IT is estimated to be the fastest growing segment in the corporate end-user due to the increasing use of LMS solutions for training and learning of the resources to keep them technologically updated.
The vendors in the market have adopted various strategies to increase the product ecosystem and gain a competitive edge over its competitors. For instance, PowerSchool acquisition of Schoology, a leading K-12 learning management system to develop an all-inclusive unified classroom solution for the K-12 education industry
Blackboard, Inc., Cornerstone OnDemand, Inc., D2L Corporation, IBM Corporation, McGraw-Hill, Oracle Corporation, Pearson PLC, SABA Software Inc., Paradiso Solutions LLC, and Docebo Inc.
The global market is further segmented into type and application:
Deployment Type Outlook (Revenue, USD Billion; 2019-2030)
Monetization Model Outlook (Revenue, USD Billion; 2019-2030)
End-use Outlook (Revenue, USD Billion; 2019-2030)
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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