New York, USA, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Learning Management System Market information by Deployment, by Services, by Application and Region – forecast to 2027” market size to reach USD 42.31 billion, growing at a compound annual growth rate of 21.20% by 2027.
Market Scope:
The global learning management system market is witnessing rapid traction. Remote and online learning has always been alternative options for education. However, the recent coronavirus crises and lockdown & social distancing mandates made the world realize the convenience of distance education. This further created significant market opportunities, changing the education & training sector entirely.
The only drawback of online education is the lack of human interaction and accessibility. Learning Management System (LMS) fills that gap in real-time and online learning, facilitating digital education and the faculty-student relationship. Resultantly, online education is trending and gaining huge prominence on the global platform. Over recent years, students are increasingly opting for online degree programs or taking at least one college course through online platforms.
With the COVID 19 disruptions likely to continue for a couple of years, the market is expected to garner significant traction in future years. In this regard, Market Research Future (MRFR) asserts that the global learning management system market would create significant valuation by 2027, growing at a phenomenal CAGR during the assessment period (2020-2027).
Dominant Key Players on Learning Management System Market Covered are:
- Edmodo (California)
- Blackboard Inc. (US)
- IBM Corporation (US)
- SAP SE (Germany)
- Xerox Corporation (US)
- Oracle Corporation (US)
- McGraw-Hill Education (US)
- Cornerstone On-demand Inc. (US)
- D2L Corporation (Canada)
- Saba Software Inc. (US)
Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/1858
Market USP Exclusively Encompassed:
Market Drivers
Learning Management Systems are Increasingly Adopted by Enterprises Too
Though online learning has its limitations, it is still preferred by many corporate employees to improve employability. Besides, numerous advantages that the LMS platform offers, such as tracking student progress, cost-effectiveness, and convenience, increase its uptake in many organizations. LMSs also allow education & training institutes and enterprises to customize the platform to match their branding-specific features.
Technological upgrades are being impactful in enhancing the quality of education. The rising penetration rate of smart mobile devices, like smartphones, laptops, and tablets, and improving networking technologies like WiFi and broadband fosters the LMS market value.
Additionally, increasing investments by education sectors and organizations across industries to train new employees and work on employee development escalate the market growth. Investments in cloud-based online education infrastructure to gain enhanced control over the whole learning management gamut push market revenues.
Lack of Awareness, Accessibility, Infrastructure Hampers Market Growth
Despite promising growth prospects, the growth of the learning management system market is hindered by some factors, including consumer skepticism or unawareness leads them to typecast online education, considering it is not good enough or doesn't provide valid certifications, etc. Also, financial constraints and lack of infrastructure, as in connectivity issues, are significant challenges projected to impede market growth.
Browse In-depth Market Research Report (110 Pages) on Learning Management System Market:
https://www.marketresearchfuture.com/reports/learning-management-system-market-1858
Segmentation of Market Covered in the Research:
The market is segmented into services, deployments, applications, and regions. The services segment is sub-segmented into content administration, execution boards, organizations, correspondence, joint efforts, and others. The deployment segment is sub-segmented into cloud and on-premise.
The application segment is sub-segmented into corporate and scholastics. The region segment is sub-segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and rest-of-the-world.
Regional Analysis
North America leads the global learning management system market. The market growth attributes to the expanding awareness for the broad framework of learning among people and rising requests by associations for practical learning framework. The region houses a well-developed IT infrastructure that increases the adoption of LMSs in colleges and universities.
Besides, the increasing adoption of computers and advanced technologies such as artificial intelligence (AI), machine learning (ML), cloud computing, and others substantiate the market growth. Moreover, the high adoption of augmented reality and virtual reality technologies can make the whole learning experience interactive boost the market size, integrating with education concepts.
The presence of key technology providers in the region, such as Edmodo, Blackboard, and D2L Corporation, boosts the market size. Additionally, the increasing adoption of cloud-based learning management systems to improve operational efficiency drives the region's learning management system market share.
Talk to Expert:
https://www.marketresearchfuture.com/ask_for_schedule_call/1858
COVID-19 Impact on the Global Learning Management System Market
The COVID 19 pandemic rather boosted the learning management system industry. The lockdown, physical distancing mandates, and safety protocols imposed to control the virus spread pushed the digital adoption in education and training centers as well as in enterprises.
People realized that online education is far more convenient and cost-saving, and the number of remote learning options has grown exponentially. Both students and employees can gain the quality education that too at the comfort of their own home or office. This, as a result, increased the adoption of learning management systems to manage the whole gamut.
Competitive Landscape
The learning management system market witnesses significant product launches and several strategic approaches, such as collaboration, expansion, mergers & acquisitions, and product launches. Major players are making strategic investments in research and development activities and fostering their expansion plans.
For instance, recently, on Aug.11, 2021, Whatfix, a startup software-as-a-service-based (SaaS-based) digital adoption platform, announced the acquisition of Nittio Learn, a learning management system provider, to expand its portfolio. Its second acquisition since the company raised $90 million as a part of its Series D round just two months ago. The acquisition would help Whatfix introduce newer technology-based learning tools for its enterprise customers, adding to its platform capabilities to drive digital adoption.
Related Reports:
Adaptive Learning Market Research Report: Information by Component (Solutions and Services), Mapping Type (Outdoor Mapping and Indoor Mapping), Solutions (Mapping Data, Web Mapping, and GPS-enabled Services), Services (Consulting, Cross-Platform Support, and Deployment & Integration), Applications (Real-time Location Data Management, Geocoding & Geopositioning, Routing & Navigation, Asset Tracking, and Others ), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)- Forecast till 2027
Corporate E-learning Market Research Report, by technology (Web-Based, LMS, Learning Content Management Systems, Podcasts, Virtual Classrooms, Mobile E-Learning), by training type (Instructor-led & Text based, Outsourced) - Forecast till 2027
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
