(I-BusinessNews.Com, January 10, 2020 ) Meticulous Research®– leading global market research company published a research report titled “Learning Management System (LMS) Market by Product Offering (Solutions, Services), User Group (Education, Corporate), Delivery Mode (Distance Learning, Instructor-led Learning), Deployment Type (Cloud, On-Premise), and Geography- Global Forecast to 2025”.
According to this latest publication from Meticulous Research®, the global learning management system (LMS) market is expected to grow at a CAGR of 20.5% from 2019 to reach $28.1 billion by 2025. Substantial growth in the global learning management system market is mainly attributed to the evolution of the e-learning industry, increasing smartphone user base, and increasing penetration of internet services across the globe. Proliferation of e-learning industry is playing a pivotal role in growth of the LMS market. In addition, government initiatives undertaken in order to achieve efficiency in literacy and training programs is propelling market growth. Furthermore, wider proliferation of bring your own device (BYOD) policies in both corporate and education industry verticals is also expected to encourage adoption of LMS among the customers. Increase in demand for gamification in LMS creates high opportunities for vendors and thus, ensures growth of LMS market. However, hesitance in acceptance of novel technology coupled with the high cost of implementation poses some challenges for the market, which may hamper the growth of the learning management systems market growth during the forecast period.
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The global learning management system market study presents historical market data in terms of values (2017, 2018), estimated current data (2019), and forecasts for 2025-by product offering (solutions, services), user group (education, corporate), delivery mode (distance learning, instructor-led learning), deployment type (cloud, on premise), and geography. The study also evaluates industry competitors and analyzes the market at a country level.
On the basis of product offering, the LMS market is classified into solutions and services. Solutions are further segmented into different modules such as content management, performance management, and administration; whereas, services are segmented into training and support, implementation, strategy and consulting, and design and development. Distinct departments of organization believe in individual training in their department. This engages organization to request customized learning modules according to their respective departments. Thus, customized solutions of LMS create huge market opportunities for the vendors. Services such as training and support that accompany the solutions also add on equal share to the total revenue generated by LMS vendors. Installation and implementation are still too complex tasks to be performed by customer on its own. Hence, services play a vital role both in generating additional revenue as well as ensuring customer satisfaction.
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On the basis of user group, LMS market is classified into education and corporate users. In recent few years, corporate users emerged as a prominent segment due to the growing demand for customized LMS solutions from corporate enterprises. Rapid advancements in technology enabled organizations to undertake modernized learning approaches in their workforce training programs is supporting the growth of this market. On the other hand, proliferation of BYOD policies and increase in collaborations of institutions and LMS vendors is driving the adoption of LMS in various K-12 schools and higher education institutions.
On the basis of delivery mode, LMS market is classified into distance learning and instructor-led learning. In this segment, distance learning is projected to grow at a considerable pace throughout the forecast period. Increase in usage and easy accessibility of internet are the key factors driving the adoption of distance learning modes. Distance learning also proves cost-effective mode of learning delivery for institutions and organizations. This promotes increasing adoption of LMS and creates huge opportunities for the vendors.
On the basis of deployment type, LMS market is classified into cloud-based and on premise software platforms. Cloud-based LMS market is subjected to grow at prominent pace during the forecast period. Cloud-based solutions are easy to implement as the vendor is solely responsible for hosting the software, monitoring and controlling, upgrading it on timely basis and making any changes according to the upcoming technology. Thus, cloud deployed LMS ensures customers least efforts in maintaining the software. Hence, cloud-based software is preferred by most of the institutions and enterprises.
On the basis of geography, the global learning management system market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. With respect to revenue, North America dominated the learning management systems market in 2018, and is expected to maintain its dominance throughout the forecast period as well. The market growth in North America is majorly attributed to the presence of the global key players in the LMS market in the region and increasing adoption of modernized tools in learning and training processes.
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However, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. Increase in government-funded literacy development projects in the rural areas is driving the LMS market in the APAC region. Also, the adoption of modernized e-learning tools by enterprises is rapidly increasing in Asia Pacific region. This ensures high growth opportunities for LMS market.
Key Players:
The key players operating in global learning management system market are Cornerstone OnDemand (U.S), SAP SE (Germany), McGraw Hill Education (U.S), Skillsoft (U.S.), D2L Corporation (Canada), MPS Interactive (India), Adobe, Inc. (U.S.), Docebo (Canada), Saba Software (Canada), Blackboard (U.S), Pearson (U.K), Epignosis (U.S), IBM (U.S), Oracle Corporation (U.S), and Absorbs Software LLC (Canada), among others.
Key questions answered in the report-
Which are the high growth market segments in terms of product offering, user group, and delivery mode and deployment type?
What are the major drivers, restraints, opportunities, and challenges in the global LMS market?
Who are the major players in the global learning management system market?
How is the competitive landscape in the global learning management system market?
What are the recent developments in the global learning management system market?
What are the different strategies adopted by the major players in the global learning management system market?
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