Pune, India, Oct. 31, 2022 (GLOBE NEWSWIRE) -- The LMS Market size reached USD 14.43 billion in 2021. The market value is anticipated to increase from USD 16.19 billion in 2022 to USD 40.95 billion by 2029 at a CAGR of 41.2% during the forecast duration. The rising demand for smart and interactive learning platforms and rising trends of multichannel learning are expected to fuel market progress. Fortune Business Insights™ presents this information in its report titled “Learning Management System Market Share, 2022-2029”
Learning management system (LMS) is an interactive and smart learning platform though online means. The rising demand for the platform from several educational institutions is expected to boost LMS adoption. Furthermore, the adoption of tools that enhance learning and teaching processes is expected to boost the product adoption. Moreover, rising focus of manufacturers on the satisfaction of interactive, secured, customized, and effective learning technologies is expected to boost adoption. In addition, the rising trend of multichannel leaning may fuel industry growth. These factors may propel market development in the coming years.
Industry Development:
- March 2021 – Telania, LLC powered eLeaP announced the upgrade of its learning management solution with the additional on-the-job training tracking feature. Through this feature, the user can select any on-the-job training from various sessions, industry-based compliance, such as metrics, close skills gaps, and government regulations, among others, to achieve other milestones.
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| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 14.2 % |
| 2029 Value Projection | USD 40.95 billion |
| Base Year | 2021 |
| LMS Market Size in 2021 | USD 14.43 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 140 |
This Report Answers the Following Questions:
- How will LMS aid in refining the education system?
- Which companies are expected to lead the market in terms of revenue?
- Which segment is anticipated to dominate the market in terms of share?
- What are the growth drivers, obstacles, challenges, and opportunities in the market?
Drivers and Restraints
Rising Popularity of Training and Online Learning to Foster Industry Development
The emergence of the COVID-19 pandemic leads to the adoption of interactive online learning methods. Institutions aim at the adoption of online learning to tackle the pandemic. Furthermore, the adoption of cloud services, internet, and leaning management is expected to boost the product adoption. The platform provides excellent administration tracking, reporting, and automation of online learning. In addition, the rising product demand or immersive and interactive learning may fuel the adoption of learning management systems in institutes. These factors may drive the learning management system market growth.
However, the strong impact of traditional training is expected to hinder the market progress.
Rising Usage of E-learning Platforms by People to Surge Demand for LMS
On-demand content is gaining more popularity nowadays. Apart from that, the increasing adoption of e-learning is set to contribute to the LMS market growth during the forthcoming years. E-learning aids users in sending data in various formats, such as documents, PDFs, slideshows, and videos. It doesn’t present any restrictions or boundaries. Also, it facilitates learning without planning. Anyone can join their preferred course from any part of the world at any time of the day.
Furthermore, corporate employees nowadays are utilizing their personal devices, namely, tablets, laptops, and smartphones to gain access to the organizational networks or to connect to the specific devices under the corporate network. The latest trend of bring your own device (BYOD) by a wide range of companies across the globe is supporting the usage of drives even in remote locations. This is not only improving the employee morale, but is also increasing productivity.
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Regional Insights
Rising Ed-Tech Activities to Bolster Market Development in North America
North America is expected to dominate the learning management system market share due to rising ed-tech activities. The market in North America stood at USD 5.99 billion in 2021 and is expected to gain a huge portion of the global market share. Furthermore, the presence of a huge number of universities and the demand for e-learning may propel the market growth.
In Europe, the adoption of open-source learning management is expected to boost ICT adoption. As per the European Ed-Tech Funding Report in 2021, Brighteye Advisors, the Ed-Tech funding increased upto USD 711 million in 2020. Online learning has an escalating demand in education across Europe.
In Asia Pacific, rising investment in platforms for the promotion of online education, courses, and training is expected to bolster market development. Furthermore, rising potential in ed-tech is expected to bolster market progress.
Market Segmentations:
Component, Deployment, End-Use, and Region are Studied
By component, the market is segmented into solutions and services. As per deployment, it is classified into on premise and cloud. As per end-use, it is bifurcated into academic and corporate. Regionally, the learning management system market is grouped into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
| Segments Covered Component, Deployment, End User, and Geography | By Component
|
By Deployment
| |
By End-user
|
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Companies Profiled in learning management system market report:
- McGraw Hill (U.S.)
- D2L Corporation (Canada)
- SAP SE (Germany)
- Saba Software (U.S.)
- Absorb LMS Software Inc. (Canada)
- Blackboard Inc. (U.S.)
- Cornerstone OnDemand, Inc. (U.S.)
- Oracle Corporation (U.S.)
- IBM Corporation (U.S.)
- Paradiso Solutions LLC (U.S.)
Competitive Landscape
Manufacturers Announce Innovative Products to Boost their Brand Image
The prominent companies operating in the market announce innovative products to attract consumers and boost their brand image. For example, eLeap powered by Telania, LLC announced its learning management solution upgrade alongside additional on-the-job training (OJT) tracking feature in March 2021. This launch may enable the company to attract consumers and boost its brand image. Furthermore, the adoption of research and development, mergers, acquisitions, technologically advanced production machinery, and expansions enables companies to boost their market position.
COVID-19 Pandemic
Strong Adoption of E-Learning to Bolster Market Development
This market is expected to grow positively during the pandemic due to the strong adoption of e-learning. The sudden spike in cases led to the adoption of work-from-home and rapid digitization led to the adoption of the product. Furthermore, the rising demand for online learning is expected to reinforce market growth. Moreover, rising government initiatives for the development of online learning are expected to bolster industry development. These factors may bolster market growth during the pandemic.
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Major Points in TOC:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Learning Management System (LMS) Key Players Market Share Insights and Analysis, 2021
- Global Learning Management System (LMS) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Solutions
- Services
- Consulting Services
- Implementation Services
- Support Services
- By Enterprise Size (USD)
- Small and Medium Enterprises
- Large Enterprises
- By Deployment (USD)
- Cloud
- On-Premises
- By End-user (USD)
- Academic
- K-12
- Higher Education
- Corporate
- BFSI
- IT & Telecom
- Healthcare
- Retail
- Manufacturing
- Government
- Energy & utilities
- Transportation
- Others
- Academic
- By Region (USD)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America Learning Management System (LMS) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Europe Learning Management System (LMS) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
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