Learning Management System Market Size to Reach USD 3.6 Billion by 2027 at CAGR 20.76%
BANGALORE, India, Sept. 29, 2021 /PRNewswire/ — The Learning Management System (LMS) Market is Segmented by Type (On-premises, Cloud Based), Application (Schools, Corporations). The report covers global opportunity analysis and industry forecasts from 2020 to 2027. It is published in Valuates Reports under Software Category.
The global learning management system market size was valued at USD 1.2 Billion in 2020 and is projected to hit USD 3.6 Billion by 2027,at a Compound Annual Growth Rate (CAGR) of 20.76% from forecast period 2020 to 2027.
Major Factors Driving The LMS Market Are:
The learning management system market is expected to grow due to the rising acceptance of digital learning, increased tendency toward Bring Your Device (BYOD) policies, and increased enterprise mobility.
Furthermore, the increasing emphasis on corporate skill training is expected to drive the LMS market size during the forecast period. Corporate skill enhancement training uses LMS to host all the knowledge artifacts which can be easily shared easily with the trainees.
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Trends Influencing The Growth Of The LMS Market
Schools, colleges, and other educational institutions were forced to close temporarily due to the coronavirus pandemic. According to research released by the World Economic Forum (WEF), more than 1.2 billion kids in 186 countries were affected by school closures due to the COVID-19 epidemic in April 2020. This crisis has drastically altered the educational landscape, resulting in a surge in demand for online learning platforms. Faculty and trainers were pushed to employ proactive online teaching and learning solutions due to strict lockdown regulations. The learning management system (LMS) market is rising in tandem with the need for online learning and e-learning platforms.
Growing Trend of Multi-channel Learning is expected to Augment LMS Market growth. The multichannel learning management system market is likely to be driven by the capacity to provide speedier, improved, and application-oriented skills to the workforce. Since the LMS platform allows users to access learning or training at any time and from any location, it has become a popular learning tool in the corporate world. Advanced multichannel LMS platforms open the door to a more inclusive, adaptable, and user-friendly ecosystem, which in turn is expected to increase the demand for LMS market growth.
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LMS Market Share Analysis
Several educational and corporate institutions in North America are deploying LMS programs to supplement their learning, testing, monitoring, and certification experiences, and the usage of LMS platforms is increasing quickly and widely. This in turn is expected to augment the growth of North America LMS market share.
The increased demand for online learning and the desire for on-the-go learning techniques has affected the adoption of LMS systems in the Asia Pacific area. Another important trend projected to drive the LMS market share in this region is the improvement in educational materials and rapid economic development in the Asia Pacific region’s developing countries.
The on-premises segment is expected to be the most lucrative during the forecast period. This rapid growth in the on-premise market share is attributed to its in-house safety and security capabilities. Small businesses and educational institutions, on the other hand, are favouring cloud-based deployment due to its cost-effectiveness. The SaaS model’s popularity is growing due to its ease of use when linking various applications and services. Cloud deployment approaches create a stable, adaptable, scalable, and secure infrastructure, which is expected to boost the market’s growth.
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Leading Players in the LMS Industry
- Cornerstone OnDemand
- EPath Learning
- ISpring Learn LMS
- Litmos (SAP)
- NetDimensions (Learning Technologies
- Skillsoft (SumTotal Systems)
- Totara Learning
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– The global elearning market size is projected to grow USD 370 Billion by 2026, from USD 226 Billion in 2020, at a CAGR of 8.56% during 2021-2026.
– The Asia-Pacific learning management systems market size is expected to generate USD 2,884 Million by 2022, growing at a CAGR of 34.2%.
– The Asia-Pacific back to school market size was valued at USD 26.3 Billion in 2020, and is projected to reach USD 58.2 Billion by 2030, registering a CAGR of 6.0% from 2021 to 2030.
– The global Adaptive Learning Software market size is projected to reach USD 1074.8 Million by 2027, from USD 477.2 Million in 2020, at a CAGR of 12.3% during 2021-2027.
– The global corporate learning management system (LMS) market size is projected to reach USD 9296 Million by 2026, from USD 2136.9 Million in 2019, at a CAGR of 22.8% during 2021-2027.
– The global K12 Education Learning Management market size is projected to reach USD 3049.7 Million by 2027, from USD 882.4 Million in 2020, at a CAGR of 19.4% during 2021-2027.
– The global E-Learning Services market size is projected to reach USD 331030 Million by 2027, from USD 185740 Million in 2020, at a CAGR of 8.1% during 2021-2027.
– The global E-Learning Virtual Reality market size is projected to reach USD 300.3 Million by 2027, from USD 65 Million in 2020, at a CAGR of 23.8% during 2021-2027.
– Classroom Management Systems Market contains segmentation By Type (Cloud Based, On-premises), By Application (K-12, Higher Education) and Regional
– Learning Content Management Systems (LCMS) Market contains segmentation By Type (Cloud Based, On-premises), By Application (BFSI, Healthcare Sector, Transportation, Public Sector, Manufacturing Sector, Retail Sector, IT and Telecom Sector, Others) and Regional
– Integrated Corporate Learning Management System Market contains segmentation By Type (Distance learning, Instructor-led training, Blended learning), By Application (Software and Technology, Healthcare, Retail, BFSI, Manufacturing, Government and Defense, Telecom, Others) and Regional
– Talent Management Systems Market contains segmentation By Type (Recruitment, Performance Management, Learning and Development, Compensation Management), By Application (Small and Medium Business, Large Business) and Regional
– Higher Education Learning Management Systems Market contains segmentation By Type (Cloud-Based, Web-Based), By Application (SME (Small and Medium Enterprises), Large Enterprise) and Regional
– The global Learning Analytics market size is projected to reach USD 9611.6 Million by 2027, from USD 2483.7 Million in 2020, at a CAGR of 20.8% during 2021-2027.
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