“Continuous adoption of digital learning and Bring Your Own Device (BYOD) policies among organizations is the major driving factor for the Learning Management System (LMS) market”
The market is estimated to grow from USD5.22 billion in 2016 to USD 15.72 billion by 2021, at a CAGR of 24.7%. Digital learning is being widely adopted in corporate organizations and academic institutions for professional training and continuing educational learning. It is transforming swiftly and this revolution is obvious with the growing adoption of modernization and innovation in learning and educational practices. These are some of the driving factors for the learning management system market.
“Among the verticals, telecom and IT is expected to be the largest contributor”
The IT and telecom sector has a greater necessity to train employees as this industry faces rapid technology changes than any other sector and companies have to stay in the competition. This industry caters to a huge customer base, with a comprehensive range of offerings and is the fastest-growing industry in the economy. It becomes essential to keep the work force trained with latest advancements in dedicated budget and time.
“The adoption of cloud-based LMS is expected to grow rapidly in this market”
The adoption of cloud-based LMS is growing rapidly as organizations are focusing more on planning cost-effective training programs and reducing the Total Cost of Ownership (TCO). This model is easy-to-implement and addresses the customization needs of organizations, and gives options of centralization and flexibility.
“Asia-Pacific (APAC) is expected to present huge opportunities of growth for the players in the LMS market”
Many learning solution vendors are expanding their reach and exploring opportunities in the APAC region by offering personalized learning environment and catering to the fluctuating demands of the market. APAC is an attractive market where LMS adoption has openly been implemented and rapid growth in population and increasing economic development makes this region the fastest-growing market, internationally. Latin America, with increasing technological advancements, is expected to witness the highest growth rate in the LMS market.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
- By Company Type - Tier 1 – 15%, Tier 2 – 26%, and Tier 3 – 59%
- By Designation – C-level – 54%, Director-level – 33%, and other – 13%
- By Region –North America – 35%, Europe– 28%, Asia-Pacific - 22%, and ROW – 15%
One of most innovative opportunity in the learning management system market is learning through gamification and wearable e-learning and use of virtual and augmented reality technologies, which are creating vast range of opportunities for the LMS vendors to create newer modules for learners.
The key vendors of LMS market profiled in the report are as follows:
- Blackboard, Inc.
- Cornerstone OnDemand, Inc.
- Xerox Corporation
- International Business Machines (IBM) Corporation
- NetDimensions Ltd.
- SAP SE
- Saba Software, Inc.
- McGraw-Hill Companies
- Pearson PLC
- D2L Corporation
- Instructure, Inc.
- Elogic Learning
Reasons to Buy The Report:
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the learning management system market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
- The LMS report will help the market players better understand their competitors and gain more insights to make smarter business decisions. There is a separate section on competitive landscape, including end user analysis, mergers and acquisition, partnerships and collaborations. Besides this, there are company profiles of the ten major players in this market. In this section, market internals are provided that can help place one’s company ahead of the competitors.
- The report helps the stakeholders by providing them a complete overview of the LMS market. The report provides information on the key market drivers, restraints, challenges, and opportunities.