Learning Management System (LMS) Market Overview:
As per a 2017 report by Online Learning Consortium, number of students enrolling in at least one distance learning course reached 6 million in the United States. Such developments are attributable to Learning Management Systems (LMS). These software applications are designed to facilitate and perform multiple tasks like documentation, tracking, reporting, and administration of e-learning of educational courses or corporate training material. The foremost dynamic elements that determines the development of learning management system market is robustly expanding e-learning industry, mounting cloud computing market, and accumulative uptake for economic training solution by industries. LMS amenities were formerly installed across educational institutions to promote e-learning. But, over the preceding decades, the e-learning applications have considerably increased in the corporate sector comprising of financial institutions, biopharma, healthcare, retail, IT companies, manufacturing, telecommunications, and entertainment and media. Even the government sector is leveraging the LMS in its utilities, transportation, and administration department. Abundant potential has driven the global learning management system market size to $9.23 billion as of 2018, and the demand is estimated to increment at a formidable CAGR of 19.65% during the forecast period of 2019 to 2025.
Learning Management System Market Outlook:
In terms of end-user verticals, LMS market is segmented into educational, corporate and government organization. After further analysis, the corporate sector comprising ballooning financial institutions, biopharma, healthcare, IT companies, and media is estimated to be the fastest growing segment. The IT companies employ e-learning tools, several programming languages and internal products to train their personnel and keep them modernized regarding the company practices and latest curriculums. Tracking and training is vital for the pharmaceutical companies to evade federal inspection, consequently the pharmaceutical as well as the healthcare sector are persistently implementing LMS solutions. Budget-efficient training solutions across the enterprises have determined the development of the LMS market in the corporate sector to be progressing at an application CAGR of 22.96 % going through 2025.
Learning management system is a cutting-edge innovation, dependent on connectivity and ICT (Information and Communication Technology) infrastructure. The global LMS market is undergoing substantial progression, owing to the upsurge in ICT budgets allocations by federal organizations of several economies. Further analysis of the various regional markets stated North America to be the leading region, capturing 38.05% of global demand in 2018. The sheer affluence of North America can be stated via several factors-
· For the FY 2018, the United Sates Federal Government Budget for IT was $95.7 billion, an increase by 1.7% from FY 2017. The Department of Defense books 44.4% of Federal IT disbursements. LMS market of North America is composed of requisite caliber to divert a substantial share of investments by the government into its own pocket via voluminous trade and application growth.
· The eLearning institution of the United Sates is globally the widest, covering diverse industries and fortes. The sum of individuals opting for smart learning is so substantial, that it has instigated several esteemed institutes to offer online learning courses such as Stanford, Berkeley, Princeton, and UCLA.
· Majority of the LMS market players and innovators such as Knowledge Anywhere, Oracle, Adobe Systems and Saba Software are stationed at the United States.
Learning Management System Market Growth Drivers and Trends:
· The emerging cloud based model in the deployment type segment is a major trend disrupting the LMS market. The cloud-based deployment model is estimated to dominate the market, due to the growing adoption rate among both SMEs and large enterprises. Majority of the traffic is diverted from on-premises deployment mode towards cloud-based as it does not necessitate capital cost and is low on maintenance necessities.
· Virtual Reality is the latest trend immersing in the e-learning practices. Some vendors are employing VR for training in healthcare, aerospace and defense learning. Cost is a key factor deterring the employment of VR but the hurdle can be leapfrogged with viable commercialization of VR headset as estimated for the approaching years.
· On February 2018, Cornerstone On Demand, an enterprise pertaining its operations towards cloud-based learning and human capital management software, publicized its collaboration with the University of Tennessee (UT) System. As per the agreement the academy has designated the firm’s learning and extended enterprise solutions to deliver essential training for its personnel situated across six estates and institutions, integrated with certification programs for external participants as well.
· Escalating implementation of BYOD (bring your own device) in organization culture is fueling the global learning management systems market growth as it diminishes the recurring expenses by the traditional teaching methods. BYOD facilitates numerous advantages such as economic efficiency, innovation and productivity, alongside with access to online training materials, directly to the employees’ devices supporting smart learning.
Learning Management System Market Challenges:
Deficiency in commercialization and insufficient information technology infrastructure in economically-underdeveloped regions are probable to delay the global learning management system market growth. However, rapid technological innovation and increasing federal budget towards IT is expected to support in overpowering these challenges in the succeeding years.
Learning Management System Market Players Perspective:
Some of the key innovators and manufacturers operating in the global LMS market are Cornerstone OnDemand, Blackboard, Saba Software, D2L Corporation, Adobe Systems, CrossKnowledge, Oracle),SAP SE, Docebo, Schoology, IBM, Epignosis,MPS Interactive, Pearson PLC, McGraw Hill, SumTotal Systems LLC, Absorb Software LLC, Instructure Inc, iSpring Solutions, Inc, G-Cube, Latitude CG, LLC, UpsideLMS, Paradiso, SkyPrep Inc, and Knowledge Anywhere.
Learning Management System Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Learning Management System (LMS) market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various types of innovations in global Learning Management System (LMS) market, and their specific advantages.
The LMS market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Learning Management System Market Report
1. Is the market for LMS market growing? How long will it continue to grow and at what rate?
2. Which type of segment presents the major growth opportunities?
3. Is there a possibility for change in the market structure over time?
4. Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
5. Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
6. What are the short-term, long-term, and medium-term growth drivers for the market?
7. What are the short-term, medium-term, and long-term challenges for the market?
8. What are the short-term, medium-term, and long-term opportunities for the market
9. Who are the top players/companies of the market?
10. What are the recent innovations in the market?
11. How many patents have been filed by the leading players?
12. What are the types of patents filed by the leading players?
13. What is our Vision 2030 Learning Management System market?
A few focus points of this Research are given below:
• Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
• Provide an overview of the product portfolio, including product planning, development, and positioning
• Discuss the role of technology companies in partnerships
• Explore the regional sales activities
• Analyze the market size and giving the forecast for current and future Learning Management System market during the forecast 2019–2025
• Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures.