Learning Management Systems Market
Growth in developments & initiatives toward digitalized education is anticipated to provide a potential growth opportunity for the market.
PORTLAND, PORTLAND, OR, UNITED STATE, June 21, 2023/EINPresswire.com/ — According to the report, the global learning management systems LMS market share generated $12.79 billion in 2020, and is expected to reach $81.22 billion by 2030, registering a CAGR of 20.5% from 2021 to 2030.
Rise in adoption of online learning and online classes to lower down costs and increase in convenience and penetration of smartphones coupled with fast internet connectivity drive the growth of the global learning management systems market. However, high prices of courses and unstable internet connections in remote areas restrain market growth. On the other hand, the surge in adoption by educational institutes and developments & initiatives toward digitalized education presents new opportunities in the coming years.
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Covid-19 Scenario:
• The trend of online education grew during the Covid-19 pandemic due to lockdown measures implemented by governments of many countries. This led to the adoption of increased adoption of learning management systems by educational institutes and training centers.
• Universities and educational institutes began providing options for distance learning and online classes post-pandemic. This raised the demand for effective learning management systems to enable digitized learning.
Based on the deployment model, the cloud segment contributed to the highest market share in 2020, accounting for more than half of the global learning management systems market, and is projected to continue its leadership status during the forecast period. Moreover, this segment is estimated to witness the largest CAGR of 22.9% from 2021 to 2030. This is due to increase in the mobile population and distributed workforce that raises the demand for e-learning or online training in the academic and corporate sectors. The research also analyzes the on-premise segment.
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Based on industry vertical, the government & education segment accounted for the largest market share in 2020, holding nearly one-third of the global LMS market, and is projected to maintain its dominance in terms of revenue during the forecast period. This is attributed to the focus of governments on low-cost and high-quality education systems. However, the retail segment is expected to manifest the fastest CAGR of 23.6% from 2021 to 2030, owing to the need to train and educate staff on the features and technicality of every newly launched product to offer better customer orientation than before.
Based on region, North America held the highest market share in terms of revenue in 2020, contributing to more than one-third of the global learning management systems market, and is projected to maintain its lead position by 2030. This is attributed to the deployment of innovative LMS solutions to cater to various operational and e-learning demands among several user types such as academics and enterprises in the region. However, Asia-Pacific is estimated to register the fastest CAGR of 24.0% during the forecast period, owing to the high demand for LMS solutions and the growth in the education sector, which include web-based and distance learning modules.
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The key players operating in the global learning management systems market include Blackboard Inc., Callidus Software Inc., Epignosis LLC, John Wiley & Sons, Inc., Oracle Corporation, Jzero Solutions Ltd., Paradiso Solutions, SABA Software, Inc., SAP SE, and Sumtotal Systems, LLC. These players have adopted various strategies to increase their market penetration and strengthen their position in the learning management systems industry.
Key Benefits For Stakeholders:
• The study provides an in-depth analysis of the global learning management systems market share along with current trends and future estimations to illustrate the imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on the global learning management systems market size are provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the LMS market.
• An extensive analysis of the key segments of the industry helps to understand the trends.
• The quantitative analysis of the global market forecast from 2021 to 2030 is provided to determine the learning management systems market share potential.
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