Global learning management systems (LMS) industry has earned a rising popularity amidst the COVID’19 pandemic and is expected to grow substantially in the coming years.
FREMONT, CA: The rising demand for e-learning is predicted to drive the LMS market growth in the near future. E-learning is a learning system that is based on formalized instruction but makes use of digital tools. Further when many schools, colleges, and universities were forced to close due to the COVID-19 pandemic in order to contain the virus, as a result of this education systems adopted e-learning to help students study from a distance. Owing to which, mobile e-learning reached 38 billion dollars in 2020, and e-learning platforms were used by 80 percent of corporations and 50% of institutional students. Therefore, the growing usage of e-learning drives the growth of the learning management system market.
In 2021, North America was the largest region in the learning management system market. Now, Asia Pacific is predicted to be the fastest expanding region over the forecast year. The global learning management system market is predicted to increase at a compound annual growth rate (CAGR) of 17.1 percent from 13.46 billion dollars in 2021 to 15.77 billion dollars in 2022. This acceleration in growth trend is majorly due to companies stabilizing their output after responding to demand that increased dramatically during the COVID-19 pandemic. According to TBRC's market projection, the global market will reach 29.35 billion dollars in 2026, with a CAGR of 16.8 percent.
IBM corporation, D2L, SAP SE, McGraw Hill Education, Pearson, PowerSchool, Docebo, Absorb LMS, Blackboard Inc, Cornerstone OnDemand, Oracle corporation, Epignosis, Skillsoft, Aptara Inc., Netdimensions Ltd., MPS Interactive, Adobe Inc, CrossKnowledge, SumTotal Systems, TalentLMS, Tata Interactive Systems, Schoology, and Articulate are among the major players covered in the global learning management systems (LMS) industry. Further, the learning management system market scope is categorized by component into solution, services, delivery method into remote learning, instructor led training, blended training, deployment mode into cloud, on-premises, by end user into academic, corporate.
