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Learning Management System Market Was Valued At About USD 5.19 Billion In 2016
As per the report, the worldwide Learning management system market was accounted at about USD 5.19 Billion in 2016 and is estimated to attain around USD 19.05 Billion in 2022, expanding at a CAGR of slightly over 24% between 2017 and 2022.
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Rising requirement of high-quality education to drive the growth of the learning management system market
Growing requirement of high-quality education is the key reason propelling the growth of the learning management system market. Additionally, the continuous need for constant learning together with cost-efficient and effective approach is increasing the demand for the learning management system market. Nevertheless, lack of degree of customization and integration is anticipated to hamper the growth of the learning management system market.
Constant technological up-gradation in the corporate sector to propel the learning management system market growth
The learning management system market is diversified based on the user type, application vertical, delivery mode, and region. The delivery mode segment is divided into instructor-led training, distance learning, and others. Based on user type, the learning management system market is classified into academic and corporate. Corporate segment ruled the learning management system market around the world owing to constant technology up-gradation in the corporate sector.
Substituting conventional system with a learning management system to make digital learning like video-based presentation and training is driving the learning management system market growth. Content management, administration, communication & collaboration, performance management, and others are the vertical of the learning management system market. Applications of learning management system market are BFSI, healthcare, telecom, retail, IT, and others.
Increasing implementation of the online management system to assist North America to dominate the learning management system market
Regional segmentation comprises Europe, North America, Latin America, the Middle East & Africa, and Asia Pacific. Regionally, North America was the leading market in as a result of the rising trend of implementation of the online management system.
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In early September 2018, an advanced extension of the Distributed Ledger Technology and Blockchain with utility-rich protocols and services, ProximaX, declared that RocketShoes will be making use of ProximaX to strengthen its advanced education platform. This affiliation substantiates the significance of blockchain technology of ProximaX serving industries beyond fintech.
The RocketShoes application enables the students to create and record their learning materials, comprising notes, digital assets, and assignments, which fundamentally enhances management of huge amounts of material. The API of RocketShoes functions with prevailing tools, thus making Learning Management Systems in higher learning institutions, corporate learning, and schools more secure, permeable, and extensible, and scalable.
The report segments the global learning management system market as follows:
By Delivery Mode
Distance Learning
Instructor-Led Training
Others
By User Type
Academic
Corporate
By Application
Content Management
Performance Management
Communication and Collaboration
Administration
Others
By Vertical
BFSI
Healthcare
Retail
Government
Telecom and IT
Others
By Region
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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