Luton, Bedfordshire, United Kingdom, Aug. 12, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Learning Management System Market.
Learning Management System Market will exhibit a CAGR of 18.9% in the forecast period of 2022 to 2029 and is expected to reach USD 61.91 billion by 2029.
Learning administration, performance tracking and reporting, feedback recording, and management of training and development programmes have all been made easier appreciations to learning management system. Institutions of higher learning and commercial companies are increasingly using these technologies to oversee their e-learning initiatives. Consequently, one of the major factors driving the expansion of the LMS market globally is the growth of the e-learning sector. Additionally, the expansion of Bring Your Own Device (BYOD) policies among educational institutions is fostering the development of online learning resources, which in turn is fostering the expansion of the LMS industry.
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Government initiatives are fostering the expansion of the Global learning management system market
Government agencies are taking a number of steps to encourage the use of updated learning tools like LMS in training programmes of institutions and businesses in order to promote efficiency among students and staff. The need for open educational resources to guarantee literacy and development among the students was reaffirmed by the UNESCO development plan, post-2015. Due to the availability of free and legal open educational resources, e-learning technologies have been widely adopted, fostering the expansion of the LMS market. Along with the necessity for educational resources, a platform was also required to store the courses, assignments, and feedback given to students by teachers. LMS has shown to be a successful platform for meeting various end-user needs.
Recent Developments
- In July 2021, PowerSchool announced that it would price the class A common stocks at USD 18 per share in the New York Stock Exchange (NYSE). This would help the company repay outstanding debt expenses related to the IPO.
- In December 2020, D2L partnered with Microsoft to integrate Brightspace LMS with Microsoft Teams. This would enhance the learning experience by allowing to access a private Teams space on Brightspace platform.
- In October 2020, Blackboard launched Blackboard Reach, its new solution for K-12 institutes. The solution was aimed to help parents to connect with teachers and have meaningful and real-time discussions.
| Report Attribute | Details |
| Revenue forecast in 2029 | USD 61.91 billion |
| Growth rate | CAGR of 18.9% from 2022 to 2029 |
| Base year for estimation | 2021 |
| Historical data | 2017 - 2021 |
| Forecast period | 2022 - 2029 |
| Quantitative units | Revenue in USD billion, CAGR from 2022 to 2029 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, trends |
| Segments covered | Component, deployment, enterprise size, delivery mode, end-user, region |
| Regional scope | North America; Europe; Asia Pacific; South America; MEA |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; China; Japan; India; Brazil |
| Key companies profiled | Cornerstone OnDemand, Blackboard, PowerSchool, Instructure, D2L , SAP, SumTotal, IBM, LTG, Oracle, Infor, Adobe, Docebo |
Learning Management System Market Players
The major players operating in the global learning management system Market include Cornerstone OnDemand, Blackboard, PowerSchool, Instructure, D2L , SAP, SumTotal, IBM, LTG, Oracle, Infor, Adobe, Docebo.
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Market Dynamics:
Driver: Increasing demand for e-learning and training of individuals, teams, and enterprise
Digitization continues to challenge traditional learning approaches as the learning system has expanded beyond the traditional classroom setting. As a result, the e-learning industry is progressing, making education easily accessible to everyone and giving students and professionals the chance to study at any time and place in accordance with the convenience of the users. The adoption of blended and hybrid learning is one of the significant ways that the traditional classroom experience has evolved. It gives people, groups, and organisations more flexibility by enabling them to enrol in courses in-person or online and complement those with readings from a learning management system. A study found that 58% of workers worldwide prefer to learn at their own pace.
Restraint: Threat of digital piracy and data security and higher administration cost
Users of learning management system continue to face significant challenges related to data security and digital piracy. The problem of piracy could cause learning management system suppliers to lose a lot of subscribers and money. Videos are uploaded using peer-to-peer file-sharing protocols or by utilising a VPN to access video content, and these pirated files can be downloaded for free for a variety of devices. Some pirates hack into accounts to steal the credentials of legitimate users, which are then sold. Some people just create false users to leverage the free trials offered by learning management system Market to gain limitless access.
Key Market Segments: Learning Management System Market
by Component
- Solution
- Services
by Deployment
- On-Premise
- Cloud
by End User
- Academic
- Corporate
Learning Management System Market: Regional Analysis
With more than 41.0% of global sales in 2021, North America had the largest proportion. Due to growing Ed-tech activity, North America is predicted to lead the LMS industry. Since there are more universities and colleges in the U.S. than anywhere else, there may be potential for LMS providers to grow their companies here.
During the forecast period, the Asia Pacific is probably going to grow. To encourage e-learning and development, India, China, Japan, and other nations in the Asia Pacific are investing in and implementing learning management system platforms. Market participants in the area place a strong emphasis on growing corporate footprints.
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