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Learning management systems (LMS) have emerged as an integral part of the modern education landscape owing to their ability to streamline the delivery of online and digital content to students. LMS platforms provide educators with a centralized hub to upload course materials such as presentations, videos, audio files, assessments, and discussions. Students can access these materials at their own pace using desktops and mobile devices.
The global Learning Management System market is estimated to be valued at US$ 15.88 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 key trends:
The increased adoption of blended learning approaches among educational institutes is expected to drive market growth over the forecast period. Blending online digital media with traditional in-person classroom activities via LMS platforms allows students to learn both inside and outside the classroom as per their schedule. This provides students with flexibility and engagement. With blended learning gaining prominence amid pandemic-induced disruption, major LMS providers are integrating new features such as video conferencing, collaborative whiteboards, and analytics to better facilitate hybrid teaching models. This is anticipated to further fuel demand for LMS solutions in the coming years.
Segment Analysis
The global learning management system market is dominated by the solutions segment. Learning management system solutions help educational institutes and corporate training departments create and deliver effective online training content easily. Solutions offered by LMS providers enable instructors to create, deliver and manage educational courses and training programs easily over the internet. The segment accounts for over 60% share of the overall market owing to rising demand for easy to use and cost-effective LMS solutions from educational institutes and enterprises for delivering online training programs.
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. Cornerstone OnDemand, Blackboard and Docebo are some of the leading providers of LMS solutions globally. The market is expected to witness increased consolidation activity as key players look to enhance their offerings through mergers and acquisitions over the forecast period.
Regional analysis: North America dominates the global LMS market with over 35% share driven by high technology adoption in the education and corporate training sectors in countries like the US. The region is expected to continue its dominance over the forecast period supported rising deployment of advanced LMS solutions. Asia Pacific is expected to emerge as the fastest growing region owing to growing education sector and rapid digitalization in countries like China and India.
Key Takeaways
The global Learning Management System market is expected to witness high growth over the forecast period of 2023 to 2030. Rapid digitization of the education sector and increased adoption of virtual learning are driving the market. The market size is projected to reach US$ 15.88 Bn by 2023 from US$ X Bn in 2020, growing at a CAGR of 18%.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
