Pune,India, May 18, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global Learning Management System Market Size was valued at USD 16.19 billion in 2022 and is projected to grow from USD 18.26 billion in 2023 to USD 47.47 billion by 2030, exhibiting a CAGR of 14.6% during the forecast period.
Rising internet penetration and growing cloud adoption increase the popularity of interactive learning methods by institutions, thus driving market growth. The learning management model offers user-friendly content creation and distribution solutions across websites, mobiles, and social platforms. It also helps to administer, report, track, and automate the process of online learning courses, thus increasing its adoption. This information is provided by Fortune Business Insights, in its report titled, Learning Management System Market Forecast, 2023-2030.
Key Industry Development-
D2L Corporation released the D2L Brightspace Creator+ package, which enables users to build engaging digital course content by combining workflows into Brightspace, thus helping course creators save time, effort, and money.
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Key Takeaways-
- Learning Management System Market is expected to flourish & reach USD 47.47 Billion in 2030
- The market expansion is projected to be driven by workers' capacity to provide speedier, application-oriented, and sophisticated capabilities.
- Online interactive learning techniques are widely used by institutions to obtain a competitive edge.
- Surging Demand for Effective Learning Tools to Propel Academic Segment Growth
- Learning Management System Market Size in North America was USD 6.74 Billion 2022
Discover the Leading Players Featured 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.)”
Report Scope & Segmentation-
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 14.6% |
| 2030 Value Projection | USD 47.47 Billion |
| Base Year | 2022 |
| Learning Management System Market Size in 2022 | USD 16.19 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 170 |
| Segments covered | Component, Deployment, End-Use, Enterprise, Regional |
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Drivers and Restraints-
Rising Popularity of Multichannel Learning Due to its Convenience to Elevate Market Proliferation
The rising number of millennials in the global workforce will result in substantial changes in the employee training approach thus boosting the adoption of e-learning tools. The capability of the workforce to offer application-oriented skills with improved efficiency and speed will drive the multichannel market. The platform offers flexibility to access training material anywhere and anytime, thus enabling the student to learn at their own time. Advanced multichannel learning management platforms offer a flexible, inclusive, and user-friendly eco-system, which increased their adoption and is driving the Learning Management System (LMS) market growth.
On the other hand, while the learning management system (LMS) supports educators and teachers in recording and delivering content it cannot replace the impact and results of traditional teaching thus hampering market expansion.
Leading Segments Covered in this Report-
By Component
- Solutions
- Services
- Consulting Services
- Implementation Services
- Support Services
By Deployment
- On-Premise
- Cloud
By End-user
- Academic
K-12
Higher Education
- Corporate
BFSI
IT and Telecommunication
Healthcare
Retail
Manufacturing
Government
Energy and Utilities
Transportation
Others (Media and Entertainment, Defense)
By Enterprise Type
- Small and Medium Enterprises (SMEs)
- Large Enterprises
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FAQs
How big is the Learning Management System Market?
Learning Management System Market size was USD 16.19 Billion in 2022. It is expected to reach USD 47.47 Billion by 2030.
How fast is the Learning Management System Market growing?
The Learning Management System Market will exhibit a CAGR of 14.6% during the forecast period, 2023-2030
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