According to Market Research Future (MRFR), the global learning management system (LMS) market is projected to reach USD 17 billion at a CAGR of 22% from 2016 to 2022 (forecast period). The research report provides a summary of the effects of COVID-19 on current / future market situations. The report describes some of the key market factors that will affect the growth of this field, such as market share, the main region, and key players.
Learning Management Systems (LMS) is a web-based technology that allows managing, planning, evaluating, and delivering content for educational courses. This software-based platform provides the required framework, infrastructure, and tools to help provide online training. LMS allows businesses and educational institutions to produce and manage lessons, courses, and other training materials. LMS is like an engine that drives eLearning, and it also helps to smooth the process from creating to delivering the course. LMS platforms can be used for all types of learning activities. Many firms, corporations, and organizations of all kinds use learning management systems to handle their employee training programs.
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The key drivers that fuel the development of learning management systems market are increasing adoption of digital learning between the corporate and academic sectors. Another aspect, such as improved connectivity of mobile devices with the learning management system, will drive market growth. Many companies are implementing an m-learning (mobile learning) system that allows users to learn through multiple contexts like social media and context interaction, through personal electronics devices. However, the lack of convergence in the use of LMS functionality is a significant constraining factor in the market for learning management systems. However, technological development, continuous innovation in e-learning, and delivery methods will fuel the growth of the market for the learning management system over the forecast period.
The global market for learning management system has been segmented into services, deployment, and application.
Based on services, the global learning management system market has been segmented into content management, performance management, administration, communication & collaboration, among others.
Based on deployment, the global learning management system market has been segmented into the cloud and on-premise.
Based on the application, the global learning management system market has been segmented into corporate and academics, among others.
The global learning management system market has been segmented into North America, Europe, Asia Pacific, and the Middle East & Africa.
North America dominates the global market for learning management systems with the largest market share due to increasing awareness and the rising acceptance of the learning management system by organizations and is therefore projected to rise with the highest revenue by 2022, followed by Europe. Asia Pacific is the fastest-growing area for the learning management system market due to the rising demand by the organizations for a cost-effective learning system to train its employees to provide better ROI in the future.
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Some of the industry giants in the global learning management system industry include Edmodo (California), Blackboard, Inc. (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), SAP SE (Germany), McGraw-Hill Education (U.S.), Xerox Corporation (U.S.), Cornerstone On demand, Inc. (U.S.), D2L Corporation (Canada), and Saba Software, Inc. (U.S.) among others.
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