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Learning Management System (LMS) facilitates implementation of e-learning by providing instructors a platform to design, implement, and track online classes and training sessions. LMS enables instructors to automate the administration of educational courses and deploy blended learning approach. Instructors can upload class materials like videos, docs, presentations and seamlessly integrate with other tools like video conferencing and assessments. Students can access the uploaded content anytime, anywhere and receive timely feedback from instructors. The key benefits of LMS include synchronous and asynchronous learning, collaborative workspaces, discussions forums, assignments management and analytics.
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 Dynamics:
One of the major driver for the growth of learning management system market is the rising adoption of blended learning approach by educational institutions and corporate training programs. Blended learning combines traditional face-to-face classroom methods with more modern computer-mediated activities. It allows interactions between students and instructors as well as self-paced learning. The flexibility and personalized nature of blended learning is finding increasing acceptance among millennial learners. LMS facilitates implementing blended learning programs by enabling instructors to create and deliver online content and monitor student involvement and progress. This is expected to drive the demand of LMS during the forecast period. Further, growing emphasis on continuous learning and advances in educational technologies will also contribute to the adoption of learning management systems.
Segment Analysis
The global learning management system market can be segmented based on delivery mode, type, deployment mode, and end user. Based on delivery mode, the online/cloud-based segment dominates the market and holds around 65% share owing to increasing adoption of e-learning courses and rising trend of BYOD trend across the globe. Based on type, the custom content management segment accounts for the largest share in the market as it offers improved learning experience and personalized learning to each user.
PEST Analysis
Political: Governments across the world are formulating supportive policies to promote digital education. They are investing heavily in e-learning infrastructure development.
Economic: Rising income levels and spending on education sector globally is fueling the adoption of advanced learning solutions like LMS. The market is expected to grow at a high pace owing to increasing digitalization of education industry.
Social: Growing popularity of mobile learning and awareness about benefits of e-learning is prompting educational institutions to adopt LMS. Changing learning preferences of students is a key factor driving demand.
Technological: Advent of advanced technologies like AI, ML, analytics is enabling LMS vendors to offer personalized and adaptive learning experiences. Integration of LMS with virtual reality and augmented reality solutions is also gaining traction.
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 are focusing on new product launches and partnerships with educational institutions to expand their presence and customer base.
Key Takeaways
The global Learning Management System Market is expected to witness high growth over the forecast period. 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.
North America dominates the market currently due to widespread digitalization of education systems in countries like US and Canada. Asia Pacific region is expected to witness fastest growth in the coming years led by countries like India, China where governments are investing heavily in e-learning infrastructure development.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
