As per the newly compiled business intelligence report by IndustryARC, the global learning management system (LMS) market valued $9.4 billion in 2018, and the market is estimated to grow at a CAGR of 18.95%, during the forecast period 2019-2025. Technological penetration in educational institutions such as schools, colleges, and Universities has led to adoption of web-based e-learning platforms to minimize learning gaps, thereby increasing the demand for LMS. Moreover, there is increase in popularity for e-learning and flipped classrooms, as it eliminate the need to travel along with traditional classroom-based learning. These aforementioned factors are prime dynamics of the global LMS market growth.
The report is titled as, “Learning Management System (LMS) Market: Modules (Collaborative Learning, (Content, Talent, Performance) Management); Vertical (Government, Corporate, Education Sector); Services (Hosting, Colocation, Authoring Tool, Payment Gateways, Others); & Geography – Forecast (2019 - 2025).” The report provides an overview of global LMS market with detailed market segmentation. It analyzes the competitive scenario, geographic trends, opportunities, current market scenario, and forecasts the market till 2025.
Learning Management System Market: Leading Segments
North America held the majority of share in the global LMS market, accounting to almost 34.25% of the total market share. Increase in adoption of bring your own device (BYOD) coupled with rise in demand for on-line educational courses are major reasons supporting the LMS market growth in this region. The rapid growth in IoT technology, due to high investments by the government, fueled the demand for LMS market, thereby rendering North America with the maximum market share.
LMS market is segmented on the basis of end-user verticals into government, corporate, education sector. Among these, corporate segment gained major revenue, during the forecast period. Adoption of LMS technology by healthcare, retail, IT, telecommunications sectors to facilitate on-line employee engagement programs and virtual instructor-led training programs is leading to growth of the LMS market. Therefore, the key application segment is projected to propel at a CAGR of 21.37%, through to 2025.
Learning Management System Market Disruptive Trends
· Artificial Intelligence (AI) and Machine Learning (ML):
Owing to technological advancements, software applications such as LMS has leveraged drastic changes in terms of features and performance. The penetration of AI and ML into LMS led to creation of smart software that make decisions by using data and program parameters and drive the workflow dynamically. The incorporation of AI and ML are disrupting the LMS market growth.
· Virtual Reality (VR)
The integration of VR and LMS led to creation of an immersive digital learning environment that stimulates the real world. One can easily interact with VR training by wearing special visual and audio gear. This is another trend that is disrupting the LMS market.
Learning Management System Market: Competitive Landscape
Technological innovations are paramount in the LMS market. Consequently, companies are investing in R&D activities to carve a niche for themselves. Some of the major companies listed in the report are Litmos, Blackboard, McGraw-Hill, Brightspace, Udemy, Schoology, Docebo, Moodle, Edmodo, D2L Corp., Canvas, Pearson, SAP, and Cornerstone OnDemand.
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