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LMS Market size worth over $150 Bn by 2028
- Published Date: January 27, 2022
Learning Management System (LMS) Market size is set to reach USD 150 billion by 2028, according to a new research report by Global Market Insights Inc.
The improving telecom infrastructure has supported the advent of LMS technologies. Advancements in mobile technology and growing internet penetration are driving the LMS industry growth. The proliferation of internet & robust ICT infrastructure in higher educational institutes has also promoted the adoption of LMS as a viable tool. Several government organizations are focusing on developing the internet infrastructure. This is encouraging market players to introduce cutting-edge LMS solutions.
The COVID-19 pandemic had a positive impact on the LMS market demand. During the pandemic, large-scale and national efforts to leverage technology in support of remote online education were emerging and constantly evolving. The pandemic has impacted the Learning & Development (L&D) operations of companies. Corporate enterprises are adopting LMS for workforce training to ensure employee safety and business continuity. Government & corporate organizations have switched to LMS to train employees & students and maintain social distancing measures. Educational institutions are conducting electronic lectures and courses using LMS.
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Growing demand for on-premise LMS to offer greater control over the implementation process
The LMS market is witnessing an increase in demand for on-premise LMS as it is simple to use and requires a one-time perpetual license fee. On-premise LMS is useful for businesses whose content is more complex, has stringent security requirements, and demands information & software integration from a server for compliance training. With functionalities including course authoring, multi-tenancy, game-based learning, competency-based, consulting & advisory, and custom content for eLearning courses, on-premise LMS is preferred for compliance training. On-premise deployment increases security, control, privacy, and flexibility, making it optimum for isolated and offline environments in highly regulated industries. The increasing demand for customized solutions, with distinct developments and integrations will fuel the segment growth.
Rising implementation of instructor-led model to enhance users’ learning experience
Instructor-led training encourages employee engagement and discussion while also connecting learners with instructors. Instructor-led training can be tailored to different learning styles and incorporates a variety of education methodologies. Instructor-led training programs can be designed, scheduled, and communicated in advance to learners. With instructor-led training, programs that incorporate, new employees' onboarding, training, and integration into the mainstream become simple and quick. Learners are encouraged to participate in real-time during instructor-led training.
Browse key industry insights spread across 250 pages with 275 market data tables and 34 figures & charts from the report, “Learning Management System (LMS) Market Size By Deployment (Cloud-based, On-premise), By Delivery Mode (Distance Learning, Blended Mode, Instructor-led), By End-user (Corporate [SMEs, Large Enterprises], Academic Institutes [K-12, Higher Education, Vocational Training], Government), By Provider (Content, Services), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
Increasing enrollment in academic institutes for higher education
Flexible course formats, multiple certification programs, and an easy learning curve compared to classroom courses are increasing the demand in LMS market. K-12, vocational, and higher education institutions are leveraging the benefits of LMS technology to offer high-quality education to students. Students pursuing higher education are increasingly transitioning toward LMS platforms to enhance their job placement skills, foster academic growth, and easily pursue advanced courses. LMS platform providers are focusing on new updates and adding several courses to their platforms to attract academia.
Growing number of customers demanding affordable LMS services
The industry participants provide customized and cost-effective services such as LMS with perpetual Intellectual Property Rights (IPR) based on open-source comprehensive Moodle-based architecture, mobile integrated LMS with cloud & intranet implementation, and simple integration with external networks & third-party tools. Various end-to-end services offered by the companies include implementation, integration & custom development, hosting, migration, support, training education, consultation, administrative, and course development & management. The key players are focusing on providing LMS as a Service (SaaS Model) to train employees in various fields, track & measure their progress, and provide managers with the capabilities to effectively manage their project's performance.
Rising government initiatives to augment digital learning technologies in Asia Pacific
The Asia Pacific LMS market is projected to grow at 29% CAGR through 2028 owing to the government support to develop the digital learning technologies to strengthen the education industry. Rising participation in offering LMS courses, combined with the government's effort to boost the region's digital landscape will help in industry development. Digital education empowers students and provides opportunities for technological innovations in LMS.
Strategic mergers & acquisitions form a key strategy amongst the market players
Strategic mergers & acquisitions are undertaken by companies to create a comprehensive EdTech environment encompassing academic, administrative, and student engagement applications. For instance, in September 2021, Blackboard Inc. collaborated with Anthology Inc., a provider of higher education systems that help the entire learner lifecycle. The goal is to create an extensive and innovative EdTech environment that is available on a worldwide platform. The merger is intended to spur transformation at educational institutions to improve the student learning experience and drive instructor & institutional progress.
Prominent players operating in the LMS market include 360Learning, Absorb LMS Software Inc., Adobe LMS, Articulate Global, LLC, Blackboard Inc., Braincert, Bridge LMS, Canvas LMS, Coassemble, CoreAchieve, D2L, Docebo, Edmodo, eFront, Goskills Ltd., IBM Corporation, iSpring Solutions Inc., Learnupon, Mindflash, Moodle, Oracle Corporation, SAP Litmos, Schoology, Skillcast Group PLC, SkyPrep, Talent cards, and Talent LMS.