Fort Collins, Colorado, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The Learning Management Software Market size is valued at USD 18.2 Billion in 2022 and is anticipated to reach USD 83.4 Billion by 2032 at a CAGR of 16.5%.
Learning management software enables organizations to create, manage, and track courses for their learners. Users can take assessments and receive certifications on completion of their courses while tracking their progress, taking notes, and offering feedback. The demand for these courses increased during the pandemic, and the software is suitable for working professionals to complete their degrees or up-skilling courses at their convenience. It also benefits students who want to take extra courses without formally registering at any other institute.
The demand for learning management software is increasing due to the growing use of smartphones and the Internet for learning. People find it convenient to pursue courses via mobile phones, and video replays help them understand the concepts better. These certifications are a cost-effective alternative to formal training institutes and offer tracking and evaluation tools. The rise of edtech during the pandemic has also contributed to the growth of the learning management systems market.
Many companies leverage online learning platforms to reduce training expenses and allow their staff to learn at their own pace. These platforms are also ideal for remote training and onboarding new employees. They come equipped with various multimedia tools, such as creative and audiovisual aids, which facilitate a better understanding of concepts. Teachers can interact with learners through live sessions or pre-recorded videos.
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Segmentation Overview:
The global learning management software market has been segmented into delivery mode, deployment type, user type, end-user, and region. In the wake of the pandemic, instructor-led training has gained immense popularity. With the help of video conferencing or recorded sessions, trainers can now teach from anywhere and reach a wider audience. The advent of learning management systems has made it easier for students to connect with their teachers and peers. Virtual reality tools have also revolutionized the learning experience, particularly for medical schools, by making it more interactive and effective.
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Learning Management Software Market Report Highlights:
- The global learning management software market growth is anticipated at a CAGR of 16.5% by 2032.
- Learning management software is a cost-effective and convenient way for organizations to manage and track courses. The demand for this software has increased due to the growing use of smartphones and the Internet for learning. The rise of edtech during the pandemic has contributed to the growth of the learning management systems market, as companies use online platforms for remote training, which also helps reduce expenses. Multimedia tools like audiovisual aids help learners understand concepts better, and teachers can interact with them through live sessions or pre-recorded videos.
- The United States dominates the learning management software market in North America. Educational institutes and companies use it to train their employees. Due to a high number of tech-savvy people and edtech adoption, the region has many learning management software service providers. Americans prefer this learning method due to convenience, lower pricing, and customized course selection and assessment options.
- Some prominent players in the learning management software market report include Moodle, Cornerstone Ondemand, Blackboard Inc., D2L Corporation, McGraw Hill, Paradiso Solutions LLC, Instructure Inc., LearnDash, PowerSchool, SkyPrep, and others.
Industry Trends and Insights:
- Cornerstone OnDemand Inc. has partnered with Sloane Stephens, the legendary US Open champion, to promote their shared vision of lifelong learning and encourage greater diversity and possibilities in sports.
- SkyPrep LMS has been awarded the Winter 2024 Top Performer Award from SourceForge, recognizing exceptional companies and products with recent favorable user reviews.
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Learning Management Software Market Segmentation:
By Delivery Mode: Distance Learning, Instructor-led Training, and Blended Learning
By Deployment Type: Cloud, and On-premises
By User Type: Academic Users and Corporate Users
By End-User: BFSI, Healthcare and Pharmaceuticals, Manufacturing, Retail, Educational Institutes, and Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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