Learning Management Systems Market to Reach $64.96 Billion by 2030

The Learning Management Systems Market is projected to reach $ 64.96 billion by 2030, at a CAGR of 18.3% from 2023 to 2030. The growth of this market is attributed to the rising adoption and proliferation of e-learning, rising government initiatives to promote the use of e-learning solutions and LMS systems, and growing inclination towards the bring your own device policy. However, reluctance among instructors to adapt to modern technologies restrains market growth.

While the increase in demand for gamification and the use of AR & VR in LMS is expected to create significant opportunities for this market. However, a lack of learning management systems with multi-language support and the need for technical training for teachers and instructors pose challenges to market growth. Social learning platforms in LMS are a trend in the market.

The learning management systems market is segmented by offering, deployment mode, end user and geography. The study also evaluates industry competitors and analyses the regional and country-level markets.

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Key Players:

The key players profiled in the learning management systems market study include Blackboard Inc. (U.S.), McGraw Hill LLC (U.S.), Epignosis LLC (U.S.), John Wiley & Sons, Inc. (U.S.), Oracle Corporation (U.S.), JZero Solutions Ltd (U.K.), Paradiso Solutions LLC (U.S.), Cornerstone OnDemand, Inc. (U.S.), SAP SE (Germany), Sumtotal Systems, LLC (U.S.), Pearson plc (U.K.), Docebo S.p.A. (Canada), IBM Corporation (U.S.), D2L Corporation (Canada) and Moodle Pty Ltd. (Australia).

Rising Adoption and Proliferation of E-Learning

E-learning is one of the most rapidly growing knowledge-based industries across the globe. Advancements in e-learning have simplified training and learning by involving learning management systems across corporate organizations and educational institutes. Various benefits such as flexibility, timely access, strong integration with internet-based services, and cost-effectiveness are attracting more and more customers to adopt modern tools in training employees and students.

Based on offering, the learning management systems market is segmented into solution and services. In 2023, the solution segment is expected to account for the largest share of the global learning management systems market. The large market share of this segment is mainly attributed to the criticality of onboarding, automated compliance training and communication and engagement in the overall learning management systems and their technological evolution.

Additionally, technological advancements in learning management systems are further propelling the growth of this market. Several key players such as Cornerstone OnDemand, Inc. (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), and others are integrating advanced technologies such as Machine Learning (ML), Artificial Intelligence (AI), and analytics in their existing learning management system (LMS) platforms.

For instance, in November 2021, Cornerstone (U.S.) launched content offerings for the corporate workforce. The company focuses on enhancing its curated content through partnerships and investing in original content creation. It also offers Skill Pill configurable catalogs, which allow enterprises to select certain courses and tailor their records to meet their specific requirements.

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Based on deployment mode, the global learning management systems market is segmented into cloud-based deployment and on-premise deployment. In 2023, the on-premise deployment segment is expected to account for the largest share of the global learning management systems market. On-premises deployments have features such as complete control, customization, better integration, and longer deployment.

Across all businesses, training and development departments are rapidly adopting mobile learning. Most companies adopt technology-assisted learning, allowing employees to create, save, and display innovative ideas in the workplace. Companies that adopt mobile learning solutions have seen an increase in productivity, creativity, and loyalty among their employees. These factors are contributing to the growth of this segment.

Based on end user, thelearning management systems market is segmented into education and corporate. In 2023, the corporate segment is expected to account for the largest share of the learning management systems market. The corporate sector requires skilled professionals to work with updated technologies due to consistent technological advancements. This generates demand for modernized learning tools among corporate organizations to educate and train their employees.

In addition, growing competition in various industry sectors is increasingly forcing corporate organizations to prepare their employees for the toughest tasks to make it through the competition. This is one of the key factors driving the adoption of learning management solutions among corporate organizations. Further, the benefits of learning management systems in assessing and monitoring employee performance and ensuring employee career growth by providing suitable learning platforms increase enterprises' interest in installing LMS.

Based on geography, the learning management systems market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the learning management systems market. The large share of this market is attributed to the availability of well-established infrastructure for technology & education in the region and the higher adoption rate for advanced technologies. The presence of major e-learning and learning management system players is also one of the major factors contributing to the large share of this market.

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of offering, deployment mode, end user and geography?

What is the historical market size for learning management systems across the globe?

What are the market forecasts and estimates for the period 2023-2030?

What are the major drivers, opportunities, and challenges in the global learning management systems market?

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This release was published on openPR.