Press release
Learning Management System Market 2021 Net Worth is US$ 44.49 billion and Forecasts by 2028 | With Top Key Companies: McGraw Hill, D2L Corporation, SAP SE, Saba Software, Absorb LMS Software Inc.....
Learning Management System Market 2021-2028
New study report " Learning Management System Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.
Market Overview-
The global learning management system (LMS) market is set to gain impetus from the increasing number of millennials in the working population. In 2017, Manpower Group, for instance, mentioned that by 2020, around 35% of the total population is expected to contain millennials. This information is given by Fortune Business Insights™ in a report, titled, “Learning Management System Market, 2021-2028.” As per the report, the market size was USD 10.84 billion in 2020. It is projected to grow from USD 13.38 billion in 2021 to USD 44.49 billion in 2028 at a CAGR of 18.7% in the forecast period.
COVID-19 Pandemic: Closure of Schools and Colleges Have Spurred Demand Dramatically
The COVID-19 pandemic has resulted in the temporary shutdown of colleges, schools, and other educational institutions. The World Economic Forum (WEF), for instance, stated that across 186 countries, more than 1.2 billion students were affected by school closure because of the pandemic in April 2020. Hence, the demand for online learning platforms has surged globally. China’s government has also encouraged educational institutions to adopt LMS software solutions to help students with their studies amid this pandemic.
Top Key Players in this market are:
McGraw Hill (New York, United States)
D2L Corporation (Kitchener, Canada)
SAP SE (Walldorf, Germany)
Saba Software (Dublin, California, United States)
Absorb LMS Software Inc. (Calgary, Alberta, Canada)
Blackboard Inc. (Washington, D.C., United States)
Cornerstone OnDemand, Inc. (Santa Monica, California, United States)
Oracle Corporation (Redwood City, California, United States)
IBM Corporation (Armonk, New York, United States)
Paradiso Solutions LLC (Silicon Valley, California, United States)
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Competitive Landscape-
Key Players Focus on Acquisitions and Product Upgradations to Strengthen Positions
Reputed companies present in the learning management system industry are constantly focusing on the acquisition strategy to enhance their product lines and strengthen positions. A few others are trying to upgrade their existing solutions by adding novel features. Below are the two crucial industry developments:
March 2021: eLeaP added an on-the-job training (OJT) tracking feature in its LMS to help users track OJT training through a wide range of metrics. It would also allow them to comply with government and industry norms, close skill gaps, and gain significant milestones.
November 2020: Docebo Inc. acquired forMetris to broaden its product portfolio and strengthen its position in the LMS segment. It would also help the company to fulfil the high demand for full training lifecycles.
Segmentation-
IT & Telecom Sub-segment Held 20.2% Share in 2020: Fortune Business Insights™
Based on end-users, the market is bifurcated into academic and corporate. The corporate segment is further sub-segmented into transportation, BFSI, government, IT & telecom, energy & utilities, manufacturing, retail, healthcare, and others. Out of these, the IT & telecom sub-segment earned 20.2% in terms of the LMS market share in 2020. This growth is attributable to the increasing demand for online training and flexible work environments among companies.
Regional Insights-
Increasing Number of Colleges in U.S. to Help North America Dominate
Geographically, in 2020, North America procured USD 4.88 billion in terms of revenue. It is anticipated to remain at the forefront in the upcoming years. This growth is attributable to the rising number of universities and colleges in the U.S. According to the Australian Trade and Investment Commission, for instance, since 2013, the U.S. accounted for around 58% of the global Ed-tech contracts. On the other hand, Europe is likely to show steady growth because of the surging usage of open source LMS in the region.
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Report Coverage-
Our detailed research reports offer a comprehensive coverage of this industry, ensuring a deep and holistic understanding of the market. It also provides granular and actionable data. We strive to ensure that you receive the best strategies for increasing sales of your products. Our key mission is service orientation. We also conduct extensive primary and secondary research to help you track the latest innovations, regulatory developments, and competitive landscape.
Table Of Content:
Introduction
Key Takeaways
Market Dynamics
Competition Landscape
Global Learning Management System Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled (Covered for key 10 players only)
Annexure / Appendix
Continue….
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