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Learning Management Systems Market to Surpass $64.96 Billion by 2030
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Anticipating significant growth, the learning management systems market is projected to reach a staggering $64.96 billion by 2030, boasting an impressive CAGR of 18.3% from 2023 to 2030. The impetus behind this growth is attributed to the surging adoption and proliferation of e-learning, governmental initiatives promoting the use of e-learning solutions and LMS systems, and a growing inclination towards the bring-your-own-device (BYOD) policy. Despite these promising prospects, market growth is hindered by instructors' reluctance to embrace modern technologies.
Amidst challenges, opportunities emerge with a growing demand for gamification and the integration of augmented reality (AR) and virtual reality (VR) in LMS. However, hurdles such as a lack of learning management systems with multi-language support and the need for technical training for educators pose challenges to market growth. A notable trend in the market is the rising popularity of social learning platforms within LMS.
The learning management systems market is meticulously segmented by offering, deployment mode, end user, and geography. The research not only evaluates industry competitors but also conducts a comprehensive analysis at both regional and country levels.
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Key Players:
The key players in the learning management systems market 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).
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In terms of offering, the learning management systems market comprises solutions and services. In 2023, the solution segment is expected to dominate the global market, driven by the criticality of onboarding, automated compliance training, and communication and engagement in overall learning management systems. Moreover, technological advancements, including the integration of Machine Learning (ML), Artificial Intelligence (AI), and analytics, further propel the growth of this segment.
The deployment mode includes cloud-based deployment and on-premise deployment. The on-premise deployment segment is anticipated to command the largest market share in 2023, offering complete control, customization, better integration, and longer deployment. The burgeoning adoption of mobile learning and technology-assisted learning is driving companies to rapidly adopt on-premise deployments, resulting in increased productivity and creativity among employees.
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End-user segmentation covers education and corporate sectors. In 2023, the corporate segment is projected to lead the learning management systems market. The corporate sector's demand for skilled professionals and the need for modernized learning tools to educate and train employees are key drivers. Additionally, the benefits of learning management systems in assessing and monitoring employee performance enhance the appeal of LMS among corporate organizations.
Geographically, 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 hold the largest market share, attributed to well-established infrastructure for technology and education, a higher adoption rate for advanced technologies, and the presence of major e-learning and LMS players.
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Related Report:
Language Learning Market by Age Group (40 years), Language (English, Mandarin, Spanish, French, German, Italian, Japanese), End User (B2C, B2B), and Geography - Global Forecast to 2030
https://www.meticulousresearch.com/product/language-learning-market-5561
Related Links
• Learning Management System (LMS) Market - Global Opportunity Analysis and Industry Forecast (2023-2030)
https://www.meticulousresearch.com/product/learning-management-system-market-5052
• Learning Management Systems Market to Reach $64.96 Billion by 2030
https://www.meticulousresearch.com/pressrelease/275/learning-management-system-market-2030
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