Press release
Learning Management System (LMS) Market 2020: Top factors that could boost markets today
Learning Management System (LMS) Market by Deployment Model, User Type, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global LMS market was valued at $4,396 million in 2016, and is projected to reach $15,391 million by 2023, growing at a CAGR of 20.0% from 2017 to 2023.
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The North America learning management system (LMS) market was the largest market in the world in 2016, owing to the growth in demand for e-learning solution among user types, including academics and enterprises. Global players are focused on innovating efficient learning management solutions to strengthen their product offering. In addition, industry participants have focused on improving their learning management system (LMS) solutions to ensure competence and effectiveness of the learning platform across other emerging markets such as Latin America, the Middle East, and Africa.
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North America was the highest revenue contributor in 2016, accounting for around 51.07% share of the overall market. In addition, Asia-Pacific Learning management system (LMS) market is projected to grow at the highest CAGR of 23.2% during the forecast period, driven by growth in adoption of bring your own devices (BYOD) and e-learning platforms in emerging countries such as Singapore, South Korea, and Japan.
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The key players profiled in the LMS market are Blackboard Inc., CrossKnowledge, JZero Solutions Ltd, Litmos Limited, Oracle Corporation, Paradiso Solutions, Saba Software, Inc., SAP SE, SumTotal Systems, LLC, and TalentLMS. All these players are involved in the competitive strategies, such as geographical expansion, mergers & acquisitions, product portfolio expansion, and partnership to augment the LMS market growth.
DRIVING FACTORS FOR THE MARKET:
1. Growth in digitalized education
2. The surge in demand for a customized learning
3. High focus on cloud deployment model
MARKET RESTRAINTS AND OPPORTUNITIES:
1. Lack of IT Infrastructure in the underdeveloped nations
2. Growth in Internet of Things (IoT)
KEY QUESTIONS ANSWERED IN LEARNING MANAGEMENT SYSTEM (LMS) RESEARCH STUDY:
o What is the market growth rate of Learning Management System (LMS) Market from 2017-2023?
o What will be the global market size of the market from 2017 to 2023?
o Who are the leading global manufacturing companies in the Learning Management System (LMS) Market?
o What are the current trends and predicted trends?
o What are the challenges faced in the Learning Management System (LMS) Market?
o Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
o Which will be the anticipated growth rates for your own Learning Management System (LMS) economy altogether and also for every segment inside?
o Which will be the Learning Management System (LMS) application and types and forecast accompanied closely by producers?
o What are the conclusions of the Learning Management System (LMS) Market report?
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