Pune,India, April 06, 2023 (GLOBE NEWSWIRE) -- The Learning Management System 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 Forecast, 2023-2029”
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-
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 Scope & Segmentation-
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 14.2% |
| 2029 Value Projection | USD 40.95 Billion |
| Base Year | 2021 |
| Learning Management System Market Size in 2021 | USD 14.43 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 140 |
| Segments covered | Component, Deployment, End-User, Region |
Key Takeaways-
- Learning Management System Market is expected to flourish & reach USD 40.95 Billion in 2029
- Flexibility is increased by multichannel learning because it provides channel freedom and individualised instruction.
- The education sector is increasingly accepting of internet instruction and learning techniques.
- This market is anticipated to be led by the sub-segment for advisory services.
- Learning Management System Market Size in North America was USD 5.99 Billion 2021
Drivers and Restraints-
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.
However, the strong impact of traditional training is expected to hinder the market progress.
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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.
Academic Segment to Dominate Backed by Need to Improve Traditional Educational Processes
Based on end-user, the market is categorized into transportation, energy & utilities, government, manufacturing, retail, healthcare, IT & telecom, BFSI, academic, and others. Out of these, the healthcare segment held 11.5% LMS market share in 2018. The academic segment is set to dominate the market in the near future owing to the increasing usage of LMS for improving the conventional educational processes. The academic standards can be enhanced with the help of effective and well-managed LMS solutions.
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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.
List of Key Players Mentioned in the 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.)
Major Table of Contents-
- 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 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
- Key Findings
- By Component (USD)
- Solutions
- Services
- Consulting Services
- Implementation Services
- Support Services
- 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 Country (USD)
- United States (By Deployment)
- Canada (By Deployment)
- Europe 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 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 Country (USD)
- United Kingdom (By Deployment)
- Germany (By Deployment)
- France (By Deployment)
- Italy (By Deployment)
- Spain (By Deployment)
- Scandinavia (By Deployment)
- Rest of Europe
TOC Continued…!
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Related Report-
Smart Education and Learning Market Share, Industry Report, 2023-2027
Higher Education Technology Market Revenue Growth Forecast to 2028
E-Learning Compliance Corporate Training Market Share, Revenue And Growth Rate Till 2030
FAQ:
How big is the Learning Management System Market?
The learning management system (LMS) market size was valued at USD 14.43 billion in 2021 and is projected to grow from USD 16.19 billion in 2022 to USD 40.95 billion by 2029, at a CAGR of 14.2% during the forecast period.
How big is Learning Management System Market in North America?
The market in North America stood at USD 5.99 Billion in 2021 and is expected to gain a huge portion of the market share in the coming years.
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