Learning Management System (LMS) Market Size Expected To Reach USD 44.35 Billion at a CAGR of 20.3% By 2027
Growing adoption for digital learning solutions, increasing enterprise mobility and BYOD, and government regulations and initiatives promoting the growth of LMS, research, and constant innovation are some of the factors driving the LMS market.
Market Size – USD 10.81 Billion in 2019, Market Growth – CAGR of 20.3%, Market Trends – Proliferation of AL and ML in the eLearning industry to propel the LMS market
According to the current analysis of Reports and Data, the LMS market was valued at USD 10.81 Billion in 2019 and is expected to reach USD 44.35 Billion by the year 2027, at a CAGR of 20.3%. LMS market research study offers an all-inclusive analysis of the revenue generated by the LMS vendors locally and globally. It includes the analysis of key strategies, business models, geographic presence, market dynamics, industry outlook, competitive landscape, and LMS market revenue for all segments. The study provides an overall insight into the factors responsible for the growth in the LMS market. The factors driving the LMS market are the growing adoption for digital learning solutions, increasing enterprise mobility and BYOD, and government regulations and initiatives promoting the growth of LMS.
Owing to rising urbanization and digitalization across the world, the academic end-user sectors is estimated to gain traction in the K-12 and the higher education due to the need for managing the existing conventional education to cater the growing learner population, which is expected to supplement the growth of LMS market. An increasing number of key players are partnering up with the major core companies in the above sectors to provide superior and more efficient customer engagement to help them grow their business as well as redefine experiences for the learners. The telecom and IT corporate end-user is estimated to hold the largest market size in 2019. Business in the IT software and technology industry face the need of training their resources due to the highly competitive nature and ever changing technology in the IT industry to maintain a competitive edge over the competitors. The LMS market presents several opportunities for the vendors due increasing number of online digital transactions, increasing standards of living in developing countries. The growth of LMS market is expected to be restrained due to over dependency on traditional learning solutions and the reluctance to adopt new technology and the lack of skilled workforce, instructors, and trainers.
It is anticipated that extensive research and development funded by various companies, along with the enhancements of the cloud computing services would help in overcoming this challenge and convert it into an opportunity for the LMS market to thrive upon. Availability of centralized eLearning content, 24×7 accesses to learning content, tracking of user performance and learner progress, low learning costs, compliance management for enterprises, integrations with social media for better interaction, and scalable and updated learning course structures for the learners are some of the key benefits offered by the LMS solutions. The ecosystem of the LMS market comprises of several small and large enterprises. These players are developing in house solutions by spending a larger share of revenue in the innovation of the products.
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Further key findings from the report suggest
- The LMS market is growing at a CAGR of 3% in Asia Pacific due to the rapid industrialization, urbanization, and digitalization of the developing countries and the increased use of digital learning in developing countries such as India, China, and Singapore.
- Global modernization and emergence of technologies like the AI and ML, IoT, has increased the use of electronic devices like smartphones, tablets, and laptops in the education and eLearning industry which is expected to increase the use of LMS and expand its market size.
- Governments and the regulatory bodies are implementing various regulations and compliances to enable basic education for all. This has encouraged the institutions and various bodies to implement LMS for better utilization of the infrastructure and resources. It is expected this factor would help the LMS market grow.
- The cloud deployment model is expected to dominate the LMS market owing to its low-cost implementation and flexible subscription models suitable for the end-users.
- The K-12 academic end-user is estimated to hold the larger market share in the academic LMS due to the increasing use of handheld devices and digitalization of the learning industry
- The telecom and IT is estimated to be the fastest growing segment in the corporate end-user due to the increasing use of LMS solutions for training and learning of the resources to keep them technologically updated.
- The vendors in the market have adopted various strategies to increase the product ecosystem and gain a competitive edge over its competitors. For instance, PowerSchool acquisition of Schoology, a leading K-12 learning management system to develop an all-inclusive unified classroom solution for the K-12 education industry
- Key participants include Blackboard, Inc., Cornerstone Ondemand, Inc., D2L Corporation, IBM Corporation, McGraw-Hill Companies, Oracle Corporation, Pearson PLC, SABA Software, Inc., SAP SE, Xerox Corporation, Adobe Inc., Pearson PLC , and Instructure, Inc.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/learning-management-system-lms-market
Component type (Revenue in USD Million; 2017–2027)
- Professional Services
- System Integration and deployment
- Technical Support
- Professional Services
Delivery Mode (Revenue in USD Million; 2017–2027)
- Distance Learning
- Instructor Led Training
- Blended Learning
Deployment type (Revenue in USD Million; 2017–2027)
End-User (Revenue in USD Million; 2017–2027)
- Higher Education
- Banking, Financial Services, and Insurance
- Telecom and IT
- Retail and ecommerce
Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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