Global Learning Management System Market Overview
A learning management system refers to a software application used for administration, tracking, reporting, documentation as well as delivery of educational courses, learning & development of programs, or training programs. The concept of a learning management system has been directly influenced by e-Learning. It offers tools, infrastructure, and context to provide e-learning and training solutions to the organizations. The learning management system market is estimated to reach a revenue of USD 17 billion by the end of the forecast period, as assessed by Market Research Future (MRFR).
The rapidly upscaling e-learning industry is one of the primary factors contributing to the surging growth witnessed in the learning management system market. Also, a growth projected by the cloud-computing market is opening up various opportunities for existing and potential players in the learning management system market. Increasing demand for cost-effective training solutions from multiple industries is fueling the market growth for learning management systems.
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Furthermore, the growing preference of the bring your own device technology (BYOD) and a surge in the adoption of digital technology, the learning management system is projected to witness a significant implementation. Additionally, increasing penetration of the internet of things (IoT) in many emerging and developed economies across the globe is expected to push the learning management system market. In contrast, lack of IT infrastructure and technological developments in underdeveloped nations such as the Middle East and Latin America are estimated pose as significant hindrances in the market growth for learning management systems.
Key Players for learning Management System Market:
Some of the major players in Global Learning Management System Market includes Edmodo (California), Blackboard, Inc. (U.S.), IBM corporation (U.S.), SAP SE (Germany), Xerox corporation (U.S.), Oracle Corporation (U.S.), McGraw-Hill Education (U.S.), Cornerstone On demand, Inc. (U.S.), D2L Corporation (Canada), and Saba Software, Inc. (U.S.) among others.
The global learning management system market is segmented on the basis of services, deployment, application, and region. Based on services, the global learning management system market is segmented into performance management, content management, communication & collaboration, and administration. The segments of the learning management system market on the basis of application include corporate and academics. The corporate segment is estimated to showcase the highest growth during the forecast period.
Market segmentation for learning management system based on deployment is bifurcated into on-cloud and on-premise. The on-cloud segment is projected to garner major growth as they are hosted over the internet and users can log in to access the training material. The on-cloud deployment method for learning management system is witnessing accelerated demand due to enhanced security, lower setup costs, easier accessibility, high scalability, and quick deployment offered by the same.
Detailed Regional Analysis
The global learning management system market is geographically segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). The global market is projected to witness domination from North America with the largest market share. Attributable factors include the growing awareness and adoption of the learning management system by organizations from different industry verticals. Further, an increase in the usage of Elearning tools and technologies in the learning methodologies have boosted the LMS market in the region. Efficacious collaboration with universities and organizations between institutions and network arenas is helping educators to be more receptive towards the technological change in North America.
Europe is projected to capture the second largest market share for learning management system. Asia Pacific is expected to garner the highest growth rate for learning management system market during the forecast period. The growth in Asia Pacific is attributed to the increasing demand by organizations in multiple sectors for cost-effective learning systems to train their employees to acquire a scalable ROI in the future.
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- Hardware and software service providers
- Education sector
- System administrators
- Network service providers
- Corporate training
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