Pune, India, April 11, 2022 (GLOBE NEWSWIRE) — The global learning management system market size was USD 14.43 billion in 2021. The market is expected to grow from USD 16.19 billion in 2022 to USD 40.95 billion by 2029, exhibiting a CAGR of 14.2% during the forecast period. 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.
May 2019- McGraw-Hill and Cengage announced their equal term all-stock merger agreement. Through this, the companies shall offer digital learning at reasonable prices.
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Learning Management System Market Report Scope:
|Forecast Period 2022 to 2029 CAGR||14.2 %|
|2029 Value Projection||USD 40.95 billion|
|Market Size in 2021||USD 14.43 billion|
|Historical Data for||2018-2020|
|No. of Pages||140|
|Segments covered||Component; Deployment; End User; and Geography|
|LMS Market Growth Drivers||Popularity of Online Learning and Training in Higher Education to Escalate Market Growth|
|Increasing Number of Colleges in U.S. to Help North America Dominate|
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.
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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.
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.
Quick Buy – Learning Management System Market:
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.)
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.
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 Table of Content for Learning Management System Market:
- 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 Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Consulting Services
- Implementation Services
- Support Services
- By Enterprise Size (USD)
- Small and Medium Enterprises
- Large Enterprises
- By Deployment (USD)
- By End-user (USD)
- IT & Telecom
- Energy & utilities
- By Region (USD)
- North America
- Asia Pacific
- Middle East & Africa
- South America
- North America Learning Management System (LMS) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
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