Astonishing Growth of the Learning Management Systems Market at CAGR
Luton, Bedfordshire, UK, August 12, 2022 (GLOBE NEWSWIRE) — Accuracy Consultancy, the market research and consulting wing of Improve Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Learning Management Systems Market.
The learning management systems market will grow at a CAGR of 18.9% during the forecast period from 2022 to 2029 and is expected to reach USD 61.91 billion by 2029.
Learning administration, performance tracking and reporting, feedback recording, and management of training and development programs have all been made easier to enjoy by the learning management system. Higher education institutions and commercial enterprises are increasingly using these technologies to oversee their e-learning initiatives. Hence, one of the major factors driving the expansion of the LMS market globally is the growth of the e-learning industry. Moreover, the expansion of Bring Your Own Device (BYOD) policies among educational institutions is promoting the development of online learning resources, which in turn is promoting the expansion of the LMS industry.
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Government initiatives are driving the expansion of the global learning management system market
Government agencies are taking a number of steps to encourage the use of updated learning tools like LMS in institutional and corporate training programs to promote efficiency among students and staff. The need for open educational resources to ensure student literacy and development has been reaffirmed by UNESCO’s post-2015 development plan. Due to the availability of free and legal open educational resources, e-learning technologies have been widely adopted, driving the expansion of the LMS market. Apart from the need for teaching resources, a platform was also needed to store lessons, assignments, and feedback given to students by teachers. LMS has proven to be an effective platform to meet various needs of end users.
- In July 2021, PowerSchool announced that it would price Class A common stock at $18 per share on the New York Stock Exchange (NYSE). This would help the company pay off outstanding debts related to the IPO.
- In December 2020, D2L partnered with Microsoft to integrate Brightspace LMS with Microsoft Teams. This would enhance the learning experience by providing access to a private Teams space on the Brightspace platform.
- In October 2020, Blackboard launched Blackboard Reach, its new solution for K-12 institutes. The solution aimed to help parents connect with teachers and have meaningful, real-time discussions.
|Revenue forecasts in 2029||$61.91 billion|
|Rate of growth||CAGR of 18.9% from 2022 to 2029|
|Base year for the estimate||2021|
|Historical data||2017 – 2021|
|Forecast period||2022 – 2029|
|Quantitative units||Revenue in USD Billion, CAGR from 2022 to 2029|
|Report cover||Revenue Forecast, Company Share, Competitive Landscape, Growth Drivers, Trends|
|Segments Covered||Component, deployment, company size, delivery method, end user, region|
|Regional scope||North America; Europe; Asia Pacific; South America; AEM|
|Country scope||WE; Canada; Mexico; UK; Germany; France; China; Japan; India; Brazil|
|Profiled key companies||Cornerstone OnDemand, Blackboard, PowerSchool, Instructure, D2L, SAP, SumTotal, IBM, LTG, Oracle, Infor, Adobe, Docebo|
Learning Management System Market Players
Key players operating in the global learning management system market include Cornerstone OnDemand, Blackboard, PowerSchool, Instructure, D2L, SAP, SumTotal, IBM, LTG, Oracle, Infor, Adobe, Docebo.
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Driving force: increased demand for e-learning and training for individuals, teams and the business
Digitization continues to challenge traditional learning approaches as the learning system has expanded beyond the traditional classroom setting. As a result, the e-learning industry is advancing, making education easily accessible to everyone and empowering students and professionals to study anytime, anywhere as per the convenience of users. The embrace of blended and blended learning is one of the key ways the traditional classroom experience has evolved. It gives individuals, groups and organizations more flexibility by allowing them to enroll in in-person or online courses and supplement these with readings from a learning management system. A study revealed that 58% of workers worldwide prefer to learn at their own pace.
Restriction: Threat of digital piracy and data security and higher administration cost
Learning management system users continue to face significant challenges related to data security and digital piracy. The hacking problem could cost learning management system vendors a lot of subscribers and money. Videos are uploaded using peer-to-peer file sharing protocols or using a VPN to access video content, and these pirated files can be downloaded for a variety of devices for free. Some hackers hijack accounts to steal credentials from legitimate users, which are then resold. Some people just create fake users to take advantage of the free trials offered by Market learning management system to get unlimited access.
Key Market Segments: Learning Management System Market
per end user
Learning Management System Market: Regional Analysis
With over 41.0% of global sales in 2021, North America held the largest proportion. Due to the growing educational technology business, North America is expected to lead the LMS industry. Since there are more universities and colleges in the United States than anywhere else, LMS vendors may have the potential to grow their businesses here.
During the forecast period, Asia-Pacific is likely to grow. To encourage e-learning and development, India, China, Japan and other Asia-Pacific countries are investing in and implementing learning management system platforms. Market players in the region place great importance on growing the footprint of businesses.
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