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(IT-NEWSWIRE.COM, January 09, 2024 ) According to a research report "Learning Management System Market Size by Component, Delivery Mode (Distance Learning, Instructor-Led Training, and Blended Learning), Deployment Type, User Type (Academic and Corporate) and Region - Global Forecast to 2027" published by MarketsandMarkets, the LMS market size is expected to grow from USD 18.7 billion in 2022 to USD 43.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.4% during the forecast period. The increasing need for efficient and accessible learning, and effective management of learning content are a few factors driving the growth of the LMS market.
Browse 390 market data Tables and 57 Figures spread through 333 Pages and in-depth TOC on "Learning Management System Market - Global Forecast to 2027"
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Services provide learners with services for curriculum development and smooth installation, development, and maintenance of ongoing activities.
Education and learning service providers render various education-related services, categorized into consulting services, implementation services, and support services. These services provide learners with services for curriculum development and smooth installation, development, and maintenance of ongoing activities.
The support and maintenance services segment addresses technical queries and delivers cost-effective support, which enables improved business performance.
Service providers offer continuous support and maintenance sessions to users, as and when needed, to resolve business complexities. They also support organizations by helping them gain the expertise required for operating the newly adopted solutions. With support and maintenance services, users get a thorough idea of systematic procedures related to the deployed solution. Service vendors provide users with online and onsite support and maintenance to use the deployed solution better.
The blended learning approach provides flexibility to the teachers and students to get round-the-clock access to learning material through LMS
Blended learning is a training style in which employees learn via electronic and online media and face-to-face training. It combines learning methods where learners independently learn at their pace while also learning under an instructor. During face-to-face training, the instructor supports the employees by giving context and explanation and facilitates discussion among the participants. The online part of the blended learning approach makes it possible for the participants to do exercises and assignments at their own pace.
The CaaS solutions and services enable large enterprises to improve their profit margins by reducing their OPEX and CAPEX and help them focus on their core business
As businesses have become more competitive after the second wave of globalization, the importance of human resources has increased significantly over time. As a result, employee training and development have become a new norm in various corporate organizations. LMS is widely used in different industries, as digital learning is highly adopted to train the workforce in almost every organization. Enterprises across industries choose to deploy LMS solution suites as per their learning requirements and regulations that need to be complied with. Every corporate has certain requirements for hiring, training, and learning processes.
The sudden emergence of the pandemic has forced schools and other educational institutions to shift to online learning platforms has boosted the demand for online K12 education
K-12 is one of the most common courses conducted worldwide, with some variations. In many countries, the syllabus and process of courses are unified under some of the regulatory institutions. Thus, in such cases, large-scale implementation of LMS can improve the efficiency and performance of the education process significantly. Several government initiatives are being undertaken to improve the quality of education at the K12 level across the world. Policies are being introduced to modernize the sector with private player participation and investment. This will boost the growth of the K12 education market in the coming years.
LMS solutions for the healthcare vertical help medical professionals, such as doctors, nurses, and pharmacists, stay up to date with the latest advancements in the medical world
The healthcare vertical works on critical and time-based operating arrangements that need real-time data and instructions, which mobile and system connectivity has made possible. Corporate LMS solutions for the healthcare vertical help medical professionals, such as doctors, nurses, and pharmacists, stay up to date with the latest advancements in the medical world. Furthermore, they help medical institutions update health-related laws, policies, and other instructions for medical professionals. LMS solutions also enable patients to learn more about symptoms and medications on their mobile devices, thereby helping them prevent major ailments.
The adoption rate of cloud deployed LMS for training and development processes is growing rapidly among corporates as organizations are focusing on planning cost-effective training programs
Cloud-based learning management system is a system that is accessible via the internet. It is hosted on an online server, making it accessible from anywhere and at any time, with the correct URL and login credentials. Cloud infrastructure provides better flexibility to trainers as well as learners with cost-efficient infrastructure. Cloud solutions are available in multiple service models, but Software as a Service is the most common; it offers simple service-based architecture. Moreover, the simplicity in connecting several applications and services is another factor that plays a crucial role in supplementing the growth of the cloud-based segment in the global LMS market.
North America held the largest market size in 2022
North America is one of the most technologically advanced regions in the world. The adoption of LMS is expected to be the highest in North America. This is because of the rising inclination of American households toward intelligent technologies and the increasing investments by North American companies in advanced technologies, such as commercial and industrial IoT, 5G, cloud computing, and AI. The increasing number of alliances and partnerships among LMS and other technology providers for continuous technological innovations and advancements in LMS has further added to the growth of the global LMS market in North America.
Key Players
Some of the major vendors offering LMS globally include Blackboard Inc.(US), Cornerstone (US), D2L Corporation (Canada), Instructure Inc. (US), PowerSchool (US), IBM (US), Infor (US), Adobe (US), LTG (UK), Google (US), Oracle (US), SAP (Germany), Docebo (Canada), Learning Pool (UK), LearnWorlds (UK), Talent LMS (US), Acorn LMS (Australia), MyLearning Hub (UK), LearnDash (US), Touvti LMS (US), 360Learning (France), Epignosis (US), LearnUpon (Ireland)], SkyPrep (Canada), Absorb LMS (Canada), CrossKnowledge (France), Seismic (US), Axonify (Canada), BizLibrary (US), Thinkific (Canada), iSpring (US), Blue Sky eLearn (US), Trakstar (US), DigitalChalk (US), KMI Learning (US), and Moodle (Australia).
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