BURLINGAME, Calif., Nov. 10, 2023 /PRNewswire/ -- According to Coherent Market Insights, Global Learning Management System Market size was valued at US$ 15.88 Billion in 2022 and is expected to surpass US$ 63.27 Billion by 2030 and is anticipated to witness a compound annual growth rate (CAGR) of 18.9% from 2023 to 2030. The significant driver behind the growth of the global learning management systems market is the increasing adoption of gamification and virtual reality technology across various industries. Furthermore, the widespread embrace of the bring your own device (BYOD) culture in numerous major sectors has played a pivotal role in propelling the global learning management system market forward. The adoption of the BYOD culture among corporate management has surged due to its manifold advantages, including heightened innovation and productivity, enhanced employee satisfaction and retention, as well as cost savings. Consequently, the expansion of the BYOD culture has greatly contributed to the prosperity of the global learning management systems market.
Key Trends and Analysis of the Global Learning Management System Market:
Growing trend of bring your own device (BYOD) is expected to positively shape the learning management systems market growth. According to the Forbes, the BYOD market is on course to hit almost $367 billion by 2022, up from just $30 billion in 2014. Moreover, growing demand for online interactive sessions is again expected to foster the market growth. The global Learning Management System (LMS) market is experiencing a transformative shift driven by using numerous key trends and analyses. Firstly, the adoption of cloud-based Learning Management System (LMS) solutions maintains to upward push, supplying scalability, flexibility, and fee-performance to corporations of all sizes. Secondly, the pandemic-caused shift in the path of far flung and hybrid getting to know fashions has improved the decision for for LMS structures, major to innovations in personalised mastering, AI-driven content material recommendations, and robust analytics.
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Key Market Takeaways:
Global learning management system market is expected to surpass US$ 63.27 Billion by 2030 and is anticipated to witness a CAGR of 18.9% during the forecast period 2023-2030, owing to the growing demand for online learning, increasing trend of bring your own device (BYOD), and penetration of AI and big data analytics.
On the basis of Deployment Model, On-Premises segment is expected to hold a dominant position, owing to the fact that they have their own features customization, complete control, better integration, and more prolonged deployment.
On the basis of Application, content management segment is expected to hold a dominant position, owing to the high usage of LMS technology for content management.
On the basis of Delivery mode, Distance Learning segment is expected to hold a dominant position, owing to the growing demand for online learning.
On the basis of User Type, Academic segment is expected to hold a dominant position, owing to the increasing use of LMS for improving learning techniques.
On the basis of Vertical, Healthcare segment is expected to hold a dominant position, owing to the growing use of LMS for training medical professionals.
On the basis of region, North America is expected to hold a dominant position over the forecast period, due to the growing Ed-tech activities in the region. Moreover, growing demand for effective and high-quality education is again expected to propel regional market growth.
Key players operating in the global Learning Management System market include Cornerstone Ondemand Inc., Xerox Corporation, IBM Corporation, Netdimensions Ltd., SAP SE, Blackboard, Inc., SABA Software, Inc., Mcgraw-Hill Companies, Pearson PLC, and D2L Corporation etc.
Global Learning Management System Market Key Developments
- In January 2022, Docebo acquired Skillslive, an educational consulting agency that offers companies professional services combined with some latest learning technologies.
- In January 2023, the Steel Erectors Association of America announced the launch of the SteelPros Training Portal, its new learning management system, solely for its members. Built on Industrial Training International's (ITI's) learning hub platform and developed in collaboration with ITI, SEAA members can easily access custom content for ironworkers and other related training materials.
Read complete market research report, "Learning Management System Market, By Deployment Model, By Application, By Delivery mode By User Type By Vertical By Region and Segment Forecast 2023 - 2030", Published by Coherent Market Insights.
Global Learning Management System Market Segmentation:
- By Deployment Model:
- Cloud
- On-Premises
- By Application:
- Content Management
- Performance Management
- Communication and Collaboration
- Administration
- Learner Management
- Others
- By Delivery Mode:
- Distance Learning
- Instructor-Led Training
- Others
- By User Type:
- Academic
- Corporate
- By Vertical:
- Healthcare
- Retail
- Government
- Banking, Financial Services, and Insurance
- Manufacturing
- IT and Telecom
- Consulting
- Others
- By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Middle East & Africa
- By Country:
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
- By Country:
- North America
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