An increase in the adoption of LMS for online learning and inline classes to reduce costs and increase convenience acts as major driver for the U.S. LMS market.
PORTLAND, PORTLAND, OR, UNITED STATES, July 26, 2023/EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “U.S. Learning Management Systems Market by User Type, Deployment Model, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2022–2031,” the U.S. learning management systems market size was valued at $4,977.12 million in 2021, and is projected to reach $16,898.67 million by 2031, growing at a CAGR of 13.4% from 2022 to 2031.
The key players operating in the U.S. learning management systems market analysis include Blackboard Inc., Epignosis., IBM Corporation, iSpring, John Wiley & Sons, Inc., Oracle Corporation, Paradiso Solutions., SAP SE, SumTotal Systems, LLC and Xerox Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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COVID-19 Impact Analysis
The global AI in IoT market has witnessed a significant impact during the COVID-19 pandemic. This is attributed to rapid growth in digital technologies and proliferation of smartphone and internet devices due to social distancing policies. Furthermore, the increased number of COVID-19 cases caused many organizations to adopt remote working tools. According to an article published by TechTarget, in December 2020, more than 67% of organizations that adopted work-from-home policies post the outbreak of COVID-19 plan to keep their remote working options available for their employees even after the period of pandemic. Thus, such factors propelled the growth of global AI in IoT market during the period.
The U.S. learning management systems market is in its developing phase, and exhibits high growth potential, due to the rise in the need for educational platforms among students, especially during the COVID-19 pandemic. For instance, Blackboard, Inc., an American educational technology company announced that it will introduce Blackboard Reach, a new solution for K-12 institutions, in October 2020. The goal of the solution is to make it easier for parents to engage with instructors and have meaningful, in-person conversations. In addition, as several institutions were closed to maintain social distancing, schools, and universities shifted their focus towards online coaching and adopted systems, which promote the potential of the learning management systems market.
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The U.S. learning management systems market is segmented into user type, deployment model, industry vertical, and region. Depending on user type, it is fragmented into academic, and enterprises. By deployment model, the market is differentiated into on-premise and cloud. By industry vertical, the market is segmented into government & education, retail, healthcare, IT & telecom, manufacturing, hospitality, and others.
By deployment mode, the cloud segment acquired major share. Increase in the mobile population and distributed workforce encourages the demand for e-learning or online training in the academic and corporate sector. Further, the benefits of cost and accessibility, and increasing technological advancements in learning platforms have encouraged users to upgrade their traditional LMS to a more contemporary LMS. This has resulted in the growth of the U.S.learning management systems market during the forecasted period.
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The demand for U.S. learning management systems has increased considerably during the COVID-19 pandemic. This is attributed to increase in accessibility towards learning management among consumers and initiatives by governing bodies across the globe to curb the spread of the virus by initiating online education and exams. Moreover, U.S. learning management systems method is expected to be intact by the economic downturn, and is anticipated to remain high during forecast period. Thus, these factors promote the growth of the U.S. learning management systems industry during the pandemic situation.
KEY BENEFITS FOR STAKEHOLDERS:
• The study provides an in-depth analysis of the U.S. 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 U.S. 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 learning management systems market.
• An extensive analysis of the key segments of the industry helps to understand the learning management systems market trends.
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