The Increased Adoption of E-learning During Covid-19 is Anticipated to Openup the New Avenue for Learning Management System Market

Learning Management System Market


The Learning Management System Market is estimated to be valued at US$ 18.88 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Learning management system (LMS) is a software application or online platform for delivering and tracking training and education programs. It automates the delivery and administration of learning materials to students or employees. Key features include content authoring, administration, documentation, tracking of training progress, and reporting. LMS allows students and instructors to interact, participate in online discussions, and collaborate on projects. Industries such as education, corporate, and government widely use LMS to provide online and blended training programs.

Market Dynamics:
The key drivers for the growth of learning management system market include rising adoption of mobile learning and e-learning. The growing demand for self-paced e-learning, increasing internet penetration globally, and advancements in education technology are also fueling the adoption of LMS. The outbreak of COVID-19 pandemic further accelerated the demand as educational institutions, universities, and enterprises adopted LMS for delivering online training and education. According to HolonIQ estimates, more than 1.5 billion students and employees globally were impacted by COVID-19 lockdowns and school closures. This led to surge in subscription and usage of LMS platforms. The rising emphasis on personalized learning is another factor augmenting the LMS market growth. Advancements in technologies such as AI, machine learning, and analytics are enabling LMS providers to develop personalized and adaptive learning experiences for students and employees.

Segment Analysis
The learning management system market is segmented into solutions and services. The solutions segment is dominating the market as it provides various features like content management, student engagement and management, and administration. This segment caters to the core functionalities required for efficient LMS.

PEST Analysis
Political: Governments focus on digitizing education is promoting the adoption of LMS. Economic: Organizations focus on cost effective learning and development of employees is fueling the market growth. Social: Increasing emphasis on lifelong and distance learning is boosting demand. Technological: Advancements in technologies like artificial intelligence and analytics are enabling personalized and adaptive learning experiences.

Key Takeaways
Global Learning Management System Market Size is expected to witness high growth, exhibiting 18% CAGR over the forecast period, due to increasing digitalization in corporate and academic training. The market size for 2023 is US$ 18.88 Bn.

Regional analysis
North America dominated the LMS market in 2023 with a market share of over 35%, owing to high awareness and adoption of technology-enabled learning in the region. Asia Pacific is expected to exhibit the fastest growth over the forecast period, driven by rapid digitalization of education and training in countries like China and India.

Key players
Key players operating in the 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. These players focus on developing advanced solutions and establishing partnerships to strengthen their market position.

Read More- https://www.newsstatix.com/learning-management-system-market-value-insights-and-forecast/ 

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