Global Learning Management System Market Size Worth USD $43.9 Billion By 2028 | CAGR 18.4% By 2028 (Including COVID-19 Impact Analysis): Zion Market Research
NEW YORK, March 3, 2022 /PRNewswire/ -- As per Zion Market Research study, The Global learning management system market was worth around USD 14.9 billion in 2021 and is estimated to grow to about USD 43.6 billion by 2028, with a compound annual growth rate (CAGR) of approximately 18.4 percent over the forecast period. The report analyzes the Learning Management System market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Learning Management System market.
Learning management systems were created to detect training and learning gaps. LMSs are mostly used for online learning using analytical data and reporting, but they can also be used for a variety of other purposes, such as serving as a platform for online content, like asynchronous and synchronous courses. An LMS may provide classroom management for instructor-led instruction or a flipped classroom in higher education. Today, intelligent algorithms are used in modern LMSs to produce automatic course suggestions based on a user's ability profile, as well as extract information from learning materials to improve the accuracy of such recommendations.
Learning Management System Market: Overview
A learning management system (LMS) is a software solution used to organize, track, analyze, automate, and provide educational courses, train programmers, and learning & development programmers. The notion of a learning management system arose straight from e-Learning. The largest section of the learning system market is learning management systems. In the late 1990s, the LMS was initially introduced. Due to the emphasis on remote learning during the COVID-19 epidemic, learning management systems have seen a tremendous increase in usage.
Learning Management System Market: Growth Drivers
Businesses and educational institutions are in demand to observe and track their employees' or students' learning progress to improve the overall output. Traditional methods of measuring learners' progress, such as collecting questionnaires manually or using a survey tool, are wasteful and incorrect. Manual surveys have a number of drawbacks, including time consumption, poor response rates, a lack of reference or standards, and the chance of wrong responses. Organizations are unable to adequately track the efficacy of their initiatives due to time constraints and a lack of suitable assessment tools. Due to such drawbacks with traditional tracking systems, companies and institutes are adopting cloud-based LMS solutions, besides additional benefits such as low-cost investments with cloud platforms and accessibility of data at any time period at any location making cloud-based LMS a better choice for investors.
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Learning Management System Market: Restraints
LMS suppliers are continuously seeking to add new technology to improve their products as the popularity of LMS systems grows. With more images & less text, more interesting themes & expressions, a focus on virtual immersion learning, and eventually, gamification to engage E-learners, LMS solutions enable instructors to adapt to declining attention spans. Artificial Intelligence (AI) may be used to build an AI-based mentor that can assist students in understanding ideas, recommending courses, and providing comments to help them better their grades. Other technologies, such as data analysis, assess students' mental processes and learning styles based on their everyday interactions, allowing them to give personalized courses and a personalized learning experience for them.
Learning Management System Market: Opportunities
The development of 5G technology has wreaked havoc on the cloud computing industry. 5G's low latency connectivity allows for quicker data transfers and smoother conversations. 5G speeds up access to video analytics and artificial intelligence, making the city a safer place. This allows municipal administrators, building owners, and facility managers to make better decisions and deliver better public services. The entire revolutionary potential of 5G has yet to be realized, and this presents a significant growth opportunity for the LMS industry.
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Learning Management System Market: Challenges
Most instructors who are used to traditional lecture delivery methods face obstacles in adopting approaches such as course design, assignment preparation, assessment & evaluation, online material distribution, and collaboration. This is an issue encountered by educational establishments and instructors all over the world, and it is not restricted to any one area or location.
Learning Management System Market: Segmentation
The global learning management system market is bifurcated based on components, delivery mode, deployment, user type, and region. By component, the market is categorized into solutions and services. The delivery mode segment of the market is bifurcated into distance learning, blended learning, and instructor-led training. Among these, the distance learning segment accounts for a large share in the overall market. By deployment, the market is split into cloud and on-premises. The user type segment of the global learning management system is divided into corporate and academic.
Recent Developments:
- In October 2020, Blackboard Reach, launched the company's latest solution for K-12 institutions. The goal of the solution was to make it easier for parents to communicate with instructors and have meaningful, in-person conversations.
- Instructure collaborated with Amazon Web Services (AWS) in August 2020 to provide educators with significant cloud computing teaching tools. Users would be able to access materials from AWS Educate in Canvas thanks to Instructure.
- Cornerstone purchased Saba in April 2020, a worldwide supplier of talent experience solutions. Cornerstone was able to expedite innovation and expand its capabilities to serve a bigger, more diversified range of clients as a result of this purchase.
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Regional Landscape:
Asia Pacific LMS market is expected to expand rapidly in the next years. The use of video conferencing solutions in the area is being driven by government measures to improve digital infrastructure. Increased growth possibilities in the APAC region are due to the fast use of different LMS solutions by several businesses in emerging economies. Countries such as India, China, and Japan are significantly contributing to market development in the region. Furthermore, the region has the largest student population, and with the advancement of technology, the need for E-learning and distance education is expected to increase. This propels the LMS market to satisfy a wide range of educational needs in the APAC region, comprising China, Australia, New Zealand, Japan, India, and Singapore.
Report Scope:
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Global Learning Management System Market is segmented as follows:
Learning Management System Market: By Component Outlook (2022-2028)
- Solutions
- Services
Learning Management System Market: By Delivery Mode Outlook (2022-2028)
- Distance Learning
- Instructor-led Training
- Blended Learning
Learning Management System Market: By Deployment Type Outlook (2022-2028)
- Cloud
- On-premises
Learning Management System Market: By User Type Outlook (2022-2028)
- Academic
- Corporate
Learning Management System Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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List of Key Players of Learning Management System Market:
- Blackboard
- Cornerstone OnDemand
- SAP
- Adobe
- PowerSchool
- Instructure
- D2L
- SumTotal
- LTG
- IBM
- Oracle
- Infor
- Docebo.
- Others.
Key questions answered in this report:
- What are the growth rate forecast and market size for Learning Management System Market?
- What are the key driving factors propelling the Learning Management System Market forward?
- What are the most important companies in the Learning Management System Market Industry?
- What segments does the Learning Management System Market cover?
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