LEARNING MANAGEMENT SYSTEM MARKET ANALYSIS

The global Learning Management System market size was valued at US$ 15.88 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 18.9% from 2023 to 2030. The primary factor contributing to the expansion of the global market for learning management systems is the rising prevalence of gamification and virtual reality technology across a wide range of business sectors. Additionally, the rise of bring your own device (BYOD) culture in a variety of larger industries has contributed significantly to the global growth of the learning management system market. The adoption of a bring your own device culture by various corporate managements has increased as a result of its numerous benefits, including increased innovation and productivity, increased employee satisfaction and retention, and cost savings. The global market for learning management systems has benefited greatly from the expanding BYOD culture.

Global Learning Management System Market: Regional Insights

The market is fragmented geographically into five major regions, including Latin America, Europe, the Middle East and Africa, and Asia Pacific. They are further divided into nations.

Due to the growing ed-tech industry in the region, North America is likely to dominate the learning management system market. There are a lot of colleges and universities in the United States. This component would set out a gigantic freedom for the players to extend their organizations in this country. In 2020, according to the EdSurge ed-tech financing data set, the U.S. schooling innovation new businesses put US$ 2.2 million in adventure and confidential value financing in 130 arrangements. The investment, which was US$ 1.7 million in 2019, is approximately 30% higher than in 2019. As a result, North America plays a significant role in market expansion. In a similar vein, Europe has seen an increase in the use of open-source LMSs. Brighteye Advisors' European Ed-Tech Funding Report, 2021 states that European EdTech funding increased to US$ 711 million in 2020 from US$ 651 million in 2019. The demand for online education is growing in the corporate and educational sectors of Europe. Over the forecast period, Asia Pacific is most likely to experience growth. Developing economies in the Asia Pacific region, including China, Australia, India, Japan, Malaysia, and Singapore, place a strong emphasis on investing in online education, training, and course promotion platforms. For example, in February 2020, Chinese e-learning pioneers, like TAL Schooling Gathering and GSX Techedu, raised around US$ 3.2 million to advance e-learning innovation the nation over. Similarly, the ed-tech sector is creating significant market opportunities and is the second-largest start-up community in Australia. Accordingly, the market is probably going to observe high development in Asia Pacific.

Figure 1. Global Learning Management System Market Value (US$ Bn), by Region, 2022

To learn more about this report, Request sample copy

Global Learning Management System Market Drivers:

Increased Use of Online Education and Training in Higher Education to Accelerate Market Expansion

To stay ahead of the competition, educational establishments are increasingly utilizing interactive online learning methods. The learning management model provides user-friendly content creation and distribution solutions for websites, mobile devices, and social platforms in light of increasing internet penetration and cloud adoption. The stage additionally assists with directing, report, track, and mechanize the course of internet learning courses. Accordingly, numerous instructive associations are moving toward intelligent web based learning techniques.

Global Learning Management System Market: Opportunities.

Educational institutions are increasingly utilizing interactive online learning strategies to stay ahead of the competition. The learning the executives model gives easy to understand content creation and dispersion answers for sites, cell phones, and social stages considering expanding web entrance and cloud reception. Additionally, the platform facilitates the management, reporting, tracking, and automation of online learning courses. As a result, numerous educational organizations are moving toward intelligent online learning methods.

Global Electronic Shelf Labels Market- Impact of Coronavirus (Covid-19) Pandemic

The worldwide novel Covid pandemic caused the transitory conclusion of schools, universities, and other instructive establishments. In April 2020, the COVID-19 pandemic caused school closures for more than 1.2 million students in 186 countries, according to a World Economic Forum (WEF) report. The crisis has had a significant impact on the education ecosystem, which has led to an increase in the need for online learning platforms. Severe lockdown guideline authorized the staff and coaches to embrace proactive on the web educating and learning arrangements. For instance, in order to maintain the learning process for students, the Chinese government was instructed in February 2020 to adopt online educational platforms. The LMS industry is also expanding as demand for e-learning and online learning platforms rises. Also, the pandemic pushes organizations to take on telecommute or remote working approaches. For instance, the U.S.-based Training Industry, Inc. experienced an 8.6% increase in web traffic in April 2020. As a result, the demand for learning management systems is expected to rise as a result of the COVID-19 impact.

Global Learning Management System Market: Trends

Developing Pattern of Multichannel Figuring out how to Expand Market

The world's largest workforce is comprised of millennials. The Millennials at Work report from PWC states that fifty percent of the global workforce will be made up of millennials. With the arrival of millennials, the approach to employee training is changing in the industry. In light of this, there has been a remarkable shift in how e-learning tools are used for training and learning. The multichannel learning management system market is anticipated to be driven by the workforce's capacity to provide faster, more advanced, and application-oriented skills. The stage offers adaptability to get to learning or preparing whenever and anyplace, it has turned into a helpful learning device across the corporate area. An inclusive, adaptable, and user-friendly eco-system is made possible by cutting-edge multichannel learning management platforms, which are gaining traction across the sector. By providing individual training sessions and channel independence, multichannel learning increases flexibility. It aids in adapting to the fast-paced, ever-evolving work environment, which is anticipated to increase demand in the coming years.

It is anticipated that an increase in smartphone use and internet usage will accelerate market expansion.

The market is primarily being driven by the rise in use of learning management systems, which are utilized for both classroom and online instruction to reduce costs and increase convenience. The market for learning management systems is also expanding as a result of the rising popularity of these systems among consumers, their widespread use by educational institutions, and the widespread availability of smartphones and fast internet connectivity. However, high tuition costs and inconsistent internet connectivity in outlying areas impede the market's growth. On the other hand, the integration of artificial intelligence (AI) presents a significant opportunity for learning management system companies to expand their offerings due to features like the automation of processes that require human intervention. Furthermore, the business might have space to develop as advances and pushes toward digitalized instruction keep on developing. Also, The learning the executives frameworks market study is the essential subject of the report, alongside development prospects, difficulties, and patterns. The study employs Porter's five forces analysis to comprehend the effects of numerous factors on the LMS industry, including the bargaining power of suppliers, the competitive intensity of competitors, the threat posed by new entrants, the threat posed by substitutes, and the bargaining power of consumers.

Global Learning Management System Market - Restraints

Traditional training has a significant impact on market expansion.

During the learning session, teachers and educators are supported by a learning management system. It supplements the homeroom that aides in conveying and recording content. For traditional classroom instruction, numerous organizations are utilizing tools. However, traditional teaching appears to have a greater impact and result, according to a number of surveys. It cannot be used for hands-on training and learning sessions, according to industry experts. It must be utilized to upgrade the opportunity for growth and not to supplant the conventional framework. These elements might challenge the market development.

Figure 2. Global Learning Management System Market Share, By Deployment Model, 2022

To learn more about this report, Request sample copy

Global Learning Management System Market Segmentation:

The market is divided into on-premises and cloud deployment segments. Prior, the on-premises section ruled the market because of its in-house wellbeing and security abilities. Nonetheless, little associations and instructive organizations are leaning toward cloud-based sending models, attributable to its adaptable evaluating choices. The simplicity of activity while interfacing different applications and administrations is raising the interest for the product as a help (SaaS) model. Cloud organization lays out a vigorous, adaptable, versatile, and secure framework, which is expected to upsurge the market development for learning the board framework.

The global learning management system market is divided into solutions and services according to component. The arrangements section is supposed to overwhelm in income share because of expanding interest for e-learning arrangements taking care of various necessities in corporate and scholarly organizations. During the forecast period, high growth is anticipated in the services sector. Implementation, consulting, and support services are additional subcategories of this category. The advanced system provides integration-as-a-service, which speeds up and simplifies implementation. Also, to lay out better coordinated effort and correspondence among the coach and students, the counseling administrations sub-section is supposed to lead this market.

Global Learning Management System Market: Key Developments

For instance, in March 2021, Chalkboard Inc. sent off its remote learning arrangement suite "Chalkboard Join for K-12" for K-12 regions. In light of the current COVID-19 pandemic, the objective is to provide educators with a high-quality virtual teaching and learning experience.

In February 2020, Foundation on demand obtained Saba Programming Inc. for US$ 1.4 million to offer end client LMS arrangements. This securing permits the organization to grow its item portfolio.

In January 2020, UAE-based Khwarizmi Global School (KIC) sent Chalkboard's open-source to work on the instructor and understudy associated growth opportunity. The focus of its adaptable, user-friendly, multiplatform tools is on improving the user experience.

In April 2020, Cornerstone purchased Saba, a seller of agreements involving expertise and aptitude. Cornerstone will be able to grow more quickly and serve a wider range of customers with the help of this acquisition.

Global Learning Management System Market: Key Companies Insights

Key players operating in the global Learning Management System market are Cornerstone Ondemand Inc., Xerox Corporation, IBM Corporation, Netdimensions Ltd., SAP SE, Blackboard, Inc., SABA Software, Inc., Mcgraw-Hill Companies, Pearson PLC, and D2L Corporation

*Definition: Software that automates the administration, documentation, tracking, reporting, and delivery of educational courses, training programs, materials, or learning and development programs is known as a learning management system. E-Learning was the inspiration for the idea of a learning management system.