The global learning management system market is set to gain momentum from the increasing usage of multiple channels platforms by the millennials. Hence, several organizations are developing multichannel and tech-dependent training facilities. This information is given by Fortune Business Insights™ in a new report, titled, “Learning Management System (LMS) Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions, Services), By Deployment (On-Premise, Cloud), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By End User (Academic, Corporate), and Regional Forecast, 2020-2027.” The report further states that the LMS market size was USD 8.76 Billion in 2019 and is projected to reach USD 38.10 Billion by 2027, exhibiting a CAGR of 19.7% during the forecast period.
Request To Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/learning-management-system-market-101376
Rising Usage of LMS Owing to Shutdown of Schools amid COVID-19 will Favor Growth
The COVID-19 pandemic has resulted in the complete shutdown of schools and colleges worldwide. Hence, it is rapidly transforming the education ecosystem. This has surged the demand for LMS software solutions and other online teaching tools amongst the faculties and students. This is creating multiple growth opportunities for a large number of online learning platforms, such as BYJU’S who are providing free access to students.
We are offering specially curated market research reports to help you better understand the current situation and its effects on your businesses.
Drivers & Restraints-
Increasing Developments in Educational Sector Worldwide to Propel Growth
The conventional educational landscape is slowly changing because of the global technology revolution. Numerous countries, such as Australia, Singapore, China, the U.S., and the U.K. have already started investing huge sums for the development of the educational sector. Since 2014, the U.S. has been a leader in fundraising for this particular cause. Also, the increasing competition between several institutions to deliver technology-centered education to every student is further causing them to adopt learning management system solutions. However, the challenge associated with designing LMS as per the requirements of the masses may hamper the learning management system market growth in the coming years.
Academic Segment to Lead Backed by High Demand for LMS
Based on the end user, the market is bifurcated into corporate and academic. Out of these, the academic segment is anticipated to generate more than half of the learning management system market share in the near future. This growth is attributable to the increasing usage of LMS solutions for higher studies. The BFSI sub-segment under the corporate segment held a share of 16.2% in 2019. It would exhibit a steady growth in the forthcoming years because of the high demand for a flexible environment for online training.
North America to Dominate Fueled by Rising EdTech Activities in U.S.
In 2019, North America procured USD 3.97 billion in terms of revenue. It is expected to dominate the market stoked by the increasing number of EdTech activities taking place across the U.S. In Latin America, the government is taking several initiatives to develop its education sector. Asia Pacific, on the other hand, is likely to become an emerging region in the forecast period because of the increasing adoption of LMS by Australia and China.
Fortune Business Insights™ lists out the names of all the learning management system providers operating in the global market. They are as follows:
- 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)
- CrossKnowledge (John Wiley & Sons, Inc.) (Suresnes, France)
- JZero Solutions Ltd (Slough, Berkshire, United Kingdom)
- Edmodo (Mariners Island Blvd, San Mateo, CA, USA)
- UpsideLMS HR Tech Pvt. Ltd. (Pune, India)
Quick Buy- Learning Management System Market: https://www.fortunebusinessinsights.com/checkout-page/101376
Other Exclusive Reports:
Mobile Advertising Market Opportunities, Share Analysis Up To 2026
ERP Software Market 2021 | Trends, Growth Demand, Opportunities & Forecast To 2026
Smart Gas Meter Market 2021 | Trends, Growth Demand, Opportunities & Forecast To 2026
Inverter Duty Motor Market Opportunities, Share Analysis Up To 2026
Big Data in Manufacturing Industry Opportunities, Share Analysis Up To 2026
Industry 4.0 Market 2021: Global Industry Analysis, Size, Share, Growth, Trends and Forecast To 2028
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123ac
APAC : +91 744 740 1245
Email: [email protected]