PUBLISHER: The Business Research Company | PRODUCT CODE: 1392750
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392750
“Learning Management System (LMS) Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on learning management system (lms) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for learning management system (lms)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The learning management system (lms) market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A Learning Management System (LMS) is a software application or web-based platform utilized for designing, implementing, and assessing a learning process. It serves as a comprehensive online tool for creating, distributing, monitoring, and reporting educational content and outcomes. The LMS can be employed to support both traditional face-to-face training and environments for blended/hybrid and online learning.
The main components of a Learning Management System (LMS) include solutions and services. LMS services encompass strategy development, design, development, and support, with users accessing and utilizing these services as needed within the LMS. Various delivery modes, such as distance learning, instructor-led training (ILT), and blended training, are facilitated, and the system can be deployed in different modes, including cloud and on-premises. LMS implementation spans across multiple verticals, including academic and corporate settings.
The learning management system (LMS) market research report is one of a series of new reports from The Business Research Company that provides learning management system (LMS) market statistics, including learning management system (LMS) industry global market size, regional shares, competitors with a learning management system (LMS) market share, detailed learning management system (LMS) market segments, market trends and opportunities, and any further data you may need to thrive in the learning management system (LMS) industry. This learning management system (LMS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The learning management system (lms) market size has grown rapidly in recent years. It will grow from $17. 74 billion in 2023 to $20. 5 billion in 2024 at a compound annual growth rate (CAGR) of 15. 6%. The growth observed during the historic period can be attributed to several factors, including the increasing corporate training needs, the emphasis on scalability and flexibility, cost savings associated with the use of learning management systems, the rise of blended learning approaches, and the globalization of education.
The learning management system (lms) market size is expected to see rapid growth in the next few years. It will grow to $37. 5 billion in 2028 at a compound annual growth rate (CAGR) of 16. 3%. The anticipated growth in the forecast period can be attributed to trends such as the adoption of microlearning, the incorporation of gamification in learning processes, initiatives promoting lifelong learning, an increased focus on soft skills training, and the implementation of competency-based learning approaches. Major trends expected in the forecast period include the integration of voice-enabled search and navigation, enhancements in voice-supported content delivery, the development of multimodal learning experiences, support for language learning, real-time language translation capabilities, the introduction of podcast-style learning modules, and the implementation of adaptive learning with voice.
The anticipated surge in e-learning adoption is poised to be a driving force behind the growth of the Learning Management System (LMS) market in the foreseeable future. E-learning, rooted in formalized instruction but utilizing digital tools, gained prominence, particularly during the COVID-19 pandemic, as educational institutions worldwide faced closures to curb the virus's spread. Institutions turned to e-learning to facilitate remote learning for students during the crisis. For example, ProsperityForAll reported that the penetration rate of online learning platforms increased from 6. 8% in 2020 to 9. 9% in 2022, showcasing the escalating adoption of e-learning and contributing to the expansion of the Learning Management System (LMS) market.
The rising prevalence of smartphones is expected to drive the growth of the Learning Management System market. Smartphones, offering accessibility and convenience, facilitate on-the-go learning, enhancing user engagement. With features like mobile learning, offline access, microlearning, and social interaction, smartphones make LMS platforms more effective and attractive. Furthermore, smartphones enable functionalities such as push notifications, progress tracking, and cost-effective learning solutions, extending the global reach of LMS for diverse educational and professional needs. According to the GSM Association, 67% of the global population, equivalent to 5. 3 billion people, subscribed to mobile services by the end of 2021. An additional 400 million subscribers are expected by 2025, reaching a total of 5. 7 billion subscribers, underscoring the role of smartphone adoption in propelling the growth of Learning Management Systems.
The incorporation of artificial intelligence (AI) stands out as a notable trend gaining popularity in the Learning Management System (LMS) market. AI contributes various advantages to learning management systems by fostering a forward-thinking approach to the learning experience. AI-based learning platforms use specific algorithms to learn and make predictions based on data. For instance, in January 2021, Syndicate Learning Group, an India-based software company, announced the launch of an advanced Artificial Intelligence-driven Learning Management System, highlighting the integration of AI in learning solutions.
Major companies in the Learning Management Systems market are actively developing innovative solutions, such as digital self-service educational tools, to gain a competitive edge. A digital self-service educational tool refers to an online platform or application enabling individuals to independently access knowledge, skills, or information through interactive digital resources. For instance, a UK-based cargo management systems company launched the Hermes Learning Management System (LMS), a digital self-service educational tool designed to enhance understanding of air cargo processes and the company's Cargo Management System (CMS). This platform consolidates various training content, providing a centralized hub for structured courses, FAQs, instructional videos, and how-to guides. The Hermes LMS aims to improve staff knowledge, streamline onboarding, and enhance software implementation efficiency.
In December 2022, Moodle HQ, an Australia-based educational services company, acquired eAbyas Info Solutions for an undisclosed amount. The acquisition is strategically geared towards providing Moodle direct access to the Indian market, strengthening global networks, and developing customized products to expand Moodle's presence and services in India. eAbyas Info Solutions, an India-based e-learning company, specializes in delivering learning solutions to educational institutions and corporations.
Major companies operating in the in the learning management system (lms) market report are: McGraw-Hill Global Education Holdings LLC, Desire2Learn Inc., SAP SE, Docebo Inc., Absorb Software Inc., Blackboard Inc., Cornerstone OnDemand Inc., Oracle Corporation, Internation Business Machines Corporation, Pearson plc, PowerSchool Group LLC, Epignosis LLC, Skillsoft Corporation, Aptara Inc., Articulate Global Inc., Schoology Inc., MPS Interactive Systems Limited, NetDimensions Holdings Limited, Adobe Inc., CrossKnowledge Group Ltd., SumTotal Systems LLC, Instructure Inc., Tovuti Inc., iSpring Solutions Inc., Callidus Software Inc., John Wiley & Sons Inc., Jzero Solutions Ltd., Paradiso Solutions Inc., Saba Software Inc., Moodle Pty Ltd., Edmodo Inc., Google LLC, Litmos Limited, LearnUpon Limited, Atrixware LLC, G-Cube Webwide Software Private Limited
North America was the largest region in the learning management system market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the learning management system (lms) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the learning management system (lms) market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The learning management system market includes revenues earned by entities by monitoring user progress and performance and increasing eLearning accessibility without geographic limitations. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.