The Global Learning Management Systems (LMS) Market Will Grow Rapidly In The Coming Years, Reaching Around US$40.95 Billion By 2029. The Learning Management Systems Market Will Grow Remarkably ; Rising Trends in Multi-Channel Learning to Fuel Market Progress: Fortune Business Insights™
The Global”Learning Management Systems Market Sizeis expected to reach USD 40.95 billion by 2029, from USD 14.43 billion in 2021, at a compound annual growth rate (CAGR) of 14.2% during the forecast period. The learning management systems (LMS) market is expected to grow significantly; Rising Demand for Intelligent and Interactive Learning Platforms to Drive Market Growth: Fortune Business Insights™
- May 2019- McGraw-Hill and Cengage have announced their all-stock, equal-term merger agreement. Through this, companies must offer digital learning at reasonable prices.
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Companies Featured in the Learning Management Systems market
McGraw Hill, D2L Corporation, SAP SE, Saba Software, Absorb LMS Software Inc., Blackboard Inc., Cornerstone OnDemand, Inc., Oracle Corporation, IBM Corporation, Paradiso Solutions LLC. are some of the key players profiled while studying the Global Learning Management Systems Market. Additionally, several other key market players have been researched and analyzed to get a holistic view of the market and its ecosystem.
Market size value in 2021: USD 14.43 billion
Growth rate: CAGR of 14.2% from 2022 to 2029
Revenue forecast in 2028: 40.95 billion USD
Increase in Ed-Tech activities to support market development in North America
North America Set to Dominate the Learning Management System (LMS) market share due to the rise of ed-tech activities. The market in North America was worth USD 5.99 billion in 2021 and is expected to gain a huge share of the global market share. Also, the presence of a large number of universities and the demand for e-learning can propel the growth of the market.
In Europe, market adoption of open source learning management systems is expected to drive ICT adoption. According to the 2021 European Ed-Tech Funding Report, Brighteye Advisors, Ed-Tech funding increased to USD 711 million in 2020. E-learning has a growing demand in the education across Europe.
In the Asia-Pacific learning management system market, increasing investment in online education, course and training promotion platforms is expected to drive the development of the market. Furthermore, the growing potential of ed-tech is expected to support the progress of the market.
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Drivers and Constraints-
The growing use of e-learning platforms by people to increase the demand for LMS
- On-demand content is gaining more and more popularity these days. Apart from this, the increasing adoption of e-learning is expected to contribute to the growth of the learning management systems (LMS) market over the coming years. E-learning helps users send data in various formats, such as documents, PDFs, slideshows, and videos. It has no restrictions or limitations. In addition, it facilitates learning without planning. Anyone can join their favorite class from any part of the world at any time of the day.
- Additionally, corporate employees today use their personal devices i.e. tablets, laptops and smartphones to access organizational networks or to connect to specific devices within the corporate network. The latest trend of bring your own device (BYOD) by a wide range of companies around the world supports the use of drives even in remote locations. This not only improves employee morale, but also increases productivity.
A learning management system (LMS) is a software application for administering, documenting, tracking, reporting, automating, and delivering educational courses, training programs, or training programs. learning and development. The concept of learning management system comes directly from e-Learning. Learning management systems are the largest segment of the learning systems market. The first introduction of the LMS dates back to the late 1990s. Learning management systems have faced a massive growth in their use due to the emphasis on remote learning during the COVID-19 pandemic. 19.
Learning management systems were designed to identify gaps in training and learning, using analytical data and reports. LMSs are focused on delivering e-learning but support a range of uses, acting as a platform for online content, including courses, both asynchronous and synchronous. In the higher education space, an LMS can offer classroom management for instructor-led training or a flipped classroom. Modern LMSs include intelligent algorithms to make automated recommendations for courses based on a user’s skill profile as well as extracting metadata from learning materials to make those recommendations even more accurate.
E-learning services for employee education and training due to the expense incurred by traditional teaching methods, which is contributing to the growth of the market. This can also be attributed to the ability of these solutions to create and manage training materials, deliver content, track individual progress, and scale overall training. Apart from that, they are increasingly employed in the healthcare sector to train doctors and nurses in soft skills, such as bedside manners and theoretical knowledge of medical procedures.
Additionally, major market players are integrating Internet of Things (IoT) with LMS solutions, which is creating favorable market prospects. Additionally, the rapid proliferation of distance learning has positively influenced the use of LMSs by educational institutions. This can be attributed to a wide range of benefits offered by LMS, such as providing technological solutions against plagiarism, student tracking and assessment.
Learning Management System Market Segments:
- Consulting services
- Implementation services
- Support Services
Per end user
- IT and Telecommunications
- Health care
- Energy and Utilities
- Others (Media and Entertainment, Defense and Others)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Quick Buy – Learning Management System (LMS) Market:
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Press release issued by The express wire
To see the original version on The Express Wire, visit USD 40.95 Billion Industry, Learning Management System (LMS) Market Size, Share, Analysis Report [2022-2029]