Learning Management Systems (LMS) Market In-Depth Analysis By 2030

New York, April 26, 2023 (GLOBE NEWSWIRE) -- As per a recent report by Reports Insights, the Learning Management Systems (LMS) market is ready for exponential expansion and is estimated to reach over USD 69.69 Billion by 2030. The market, which was valued at USD 17.36 Billion in 2022, is expected to grow at a compound annual growth rate of 19.2% during the period 2023-2030. The report presents an evaluation of the market's competitive environment, regional patterns, segmentation, and emerging technologies. The objective of the study is to offer a complete comprehension of the market's dynamics and the factors propelling its expansion. This assessment is founded on a thorough examination of the market's past and current trends, macro-economic aspects, and industry dynamics, which are anticipated to influence the market's growth trajectory in the projected period.

Businesses that invest in a learning management system (LMS) witness a favorable outcome in terms of employee retention and productivity. LMS acts as an effective tool for delivering employee training and development programs as per business requirements. The programs help to equip employees with the knowledge and skills required to make advances within their specific career and organization. Hence, the favorable adoption of LMS within organizations to increase employee retention is expected to offer lucrative opportunities for the market.

Moreover, businesses are becoming more globalized, the need for multilingual and multicultural learning solutions is expected to grow. LMS providers are responding to this demand by offering platforms that support multiple languages and cultures.

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The COVID-19 pandemic has accelerated the trend towards remote work. As more people work from home, the demand for remote learning solutions, including LMS, has witnessed an increase in demand during the pandemic. For instance, according to the news release published by The Bureau of Labor Statistics in February 2022, approximately 34 percent of Private based employers offered favorable opportunities for their employees to work remotely during the COVID-19 pandemic. Moreover, the advent of pandemic has forced almost 60 percent of employers to maintain these policies in coming years. Thus, the growing adoption of remote work policies among businesses as well as professionals is anticipated to create profitable avenues for the learning management systems (LMS) market.

The growing integration of technologies such as artificial intelligence (AI) and machine learning is expected to offer more sophisticated features and capabilities to LMS providers to enhance the learning experience of individuals in academic and corporate spaces.

LMS providers are increasingly integrating their systems with other learning technologies such as learning experience platforms (LXPs), video conferencing tools, and virtual reality (VR) platforms. This integration is expected to provide more comprehensive learning solutions, which will increase the adoption of LMS.

Personalized learning is becoming increasingly important as educators recognize the benefits of customizing the learning experiences for individual students. Hence, the growing preference for personalized learning experiences among students as well as professionals is anticipated to create lucrative opportunities for the LMS market.

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Key Market Takeaways

• North America accounted for the highest market share over 33.1% in 2022 due to the established presence of various market players such as Blackboard Inc. (Anthology), Instructure, Inc., Oracle, Tovuti LMS, and others in the region.
• The global Learning Management Systems (LMS) market size is projected to reach over USD 69.69 Billion by 2030 with an excellent CAGR of 19.2% during the forecast period (2023-2030).
• Based on the component segment, the service segment accounted for the highest market share in 2022.
• Based on the deployment model segment, the on-premise segment accounted for the highest market share in 2022.
• Based on the user type, the corporate segment accounted for the highest market share of the learning management systems (LMS) market statistics in 2022.
• Asia Pacific is estimated to register the fastest CAGR rate of over 19.6% during the forecast period. The growing adoption of e-learning among students and professionals is expected to create profitable avenues for the Learning Management Systems (LMS) market in the region.

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Learning Management Systems (LMS) Market Growth Drivers:

• The globalization of the workforce in various organizations has led to the need for LMS platforms that support multilingual and multicultural learning environments. The favorable demand for LMS platforms to deliver content in different languages and adapt to local cultural norms is highly valued in the global market.
• The need for cost reduction has become even more pressing in the wake of the COVID-19 pandemic, as many organizations have had to shift their training programs to remote or hybrid formats. LMS solutions have been instrumental in facilitating this transition and ensuring that employees can continue to receive the training and education they need to perform their jobs effectively.

Restraints

• Various LMS platforms offer limited scope of customization, especially for educational institutions. As a result, the limited adoption of LMS solutions by several institutions due to lack of personalization options adversely impacts the learning management systems (LMS) market growth.
• Several LMS providers offer limited customization options, which acts as a restricting factor for organizations that have specific needs. This leads to dissatisfaction with the LMS and a reluctance to invest in the system.

Competitive Landscape

As per the study, various key players such as Blackboard Inc. (Anthology), Instructure, Inc., Oracle, IBM, SAP SE, and Adobe, are leading companies operating in the latest market space. The LMS market is highly competitive, with providers competing on features, pricing, and ease of use. The market is also evolving rapidly, with the shift towards cloud-based solutions, mobile learning, and AI-powered analytics driving innovation and new product development.

Recent Developments

In March 2023, Anthology introduced the Anthology Education and Research Center's actionable research and thought leadership hub website. The website is the Center's newest undertaking to assist the education and education technology communities by providing practical research and thought leadership.

In March 2023, Instructure introduced a latest feature called Canvas Admin Analytics for their learning management system named Canvas. The new feature is meant to be accessible by all Canvas LMS users at no extra charge and offers powerful self-service analytics to help administrators track the adoption and usage of Canvas, as well as course activity, outcomes, and student engagement.

List of Major Learning Management Systems (LMS) Market Players

• Blackboard Inc. (Anthology)
• Instructure, Inc.
• Oracle
• IBM
• Docebo
• Infor
• SAP SE
• Adobe
• PowerSchool
• LearnWorlds
• Open LMS (Learning Technology Group plc)
• 360Learning
• iSpring
• SkyPrep Inc.
• Tovuti LMS
• WBT Systems

Global Learning Management Systems (LMS) Market Segmentation: 

• By Component
  • Software
  • Service
• By Deployment Model
  • On-Premise
  • Cloud
• By User Type
  • Academic
    • K-12
    • Higher Education
  • Corporate
    • Retail
    • Healthcare
    • Government & Defense
    • Manufacturing
    • IT & Telecom
    • Hospitality
    • Automotive
    • Others

Key Questions Covered in the Learning Management Systems (LMS) Market Report

• What factors are taken into consideration in PORTER's and PESTEL analysis that reflect the current state of the Learning Management Systems (LMS) market?
  • The factors such as the number and market position of a specific company's competitive rivals, potential new market entrants, customers, suppliers, and alternative products that affect a company's profitability are included in PORTER's analysis. However, the factors including social factors, political situation in a particular country, environmental factors, technological developments, the legality of actions, and economics are deeply analyzed in PESTEL analysis of the advanced process control market.
• What are the primary drivers behind the increased demand for Learning Management Systems (LMS) among businesses?
  • The primary market drivers are the increasing demand for e-learning, the need for personalized learning, the rise of remote work, and growing awareness of the benefits of e-learning.
• Who are the major market players in the latest Learning Management Systems (LMS) market, and which company has the largest market share?
  • Blackboard Inc. (Anthology), Instructure, Inc., IBM, Oracle, and Tovuti LMS are major companies that comprise the latest Learning Management Systems (LMS) market competitive landscape.

• How competitive is the Learning Management Systems (LMS) industry, and what factors will influence its competitiveness in the future?

• • The Learning Management Systems (LMS) market is highly competitive where companies offer product innovations to maintain market position in this rapidly evolving market, with the shift towards cloud-based solutions, and mobile learning.
• What information is covered in recent advancements and trends in the Learning Management Systems (LMS) market, and how are they affecting the industry?
  • The factors related to advancements in Industry 4.0, improvements in natural language processing models, adoption of 5G internet, Internet of Things, and others are covered in recent advancements and trends of in the advanced process control market.

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