Learning Management System Market Global Trends, Market Share, Industry SizeGlobal learning management system market is forecasted to value over USD 23 billion by 2026 end and expand at a CAGR of over 19% during the forecast period of 2019 to 2026.
The e-learning industry is growing at an accelerating rate owing to its rapid adoption in various industries which is the major driving factor of the market. Furthermore, the rising emphasis on bring your own device (BYOD) policy and mobility of enterprises are some other important factors that are responsible for the growth of the market. Additionally, governments are undertaking extensive initiatives for the growth of learning management systems (LMS) and its integration with artificial intelligence and machine learning shall increase the demand for LMS thus boosting the market growth further.
However, the lack of a skilled workforce who can operate and handle LMS can impede the market growth. According to the report titled ‘The Future of Jobs 2018’, the world economic forum (WEF) has mentioned that around 54% of the total workforce across the world need to be up-skilled or re-skilled in digital and disruptive technologies and this can decrease the market growth.
Distance Learning Segment to Dominate the Market
Institutions are offering distance learning programs to cater to every demography, regardless of the location. The major factor that boosts the market growth is the flexibility of learning that is offered by this method. As the number of students enrolling for online courses is increasing, the demand for distance learning will also increase thus assisting the market growth. Additionally, students prefer the method of distance learning for their education as it helps them to set their pace of study and most importantly, it is cost-effective, considering it saves commute and other expenditures significantly.
North America is Projected to Witness Significant Market Growth
Major LMS platform providers like iSpring and Docebo are present in North America which is the driving factor for the growth of the market. Furthermore, Samsung’s North America regional head office collaborated with Discovery Education to offer fourth and fifth-grade girls with an extra-curricular program ‘Empower Tomorrow’ for pursuing STEM education. The program offers an extensive range of electronic training and hands-on computer programming activities that will encourage girls to develop an interest in coding, science, technology and engineering. These factors are the reason North America leads the market.
Key Market Players:
• Blackboard
• D2L Corp.
• iSpring Solutions Inc.
• SAP SE
• Schoology
• IBM Corp.
• Pearson PLC
• McGraw-Hill
D2L introduced the latest Brightspace learning platform version ‘Indigo’ in May 2019. This empowers the employees to control their pace of learning in this competitive global economy.
In March 2019, Blackboard announced that their Blackboard Collaborate is been implemented by the University of Ferrara (Unife), who are providing around 13 virtual classrooms every day for 70 hours of online lessons in total.
In February 2019, McGraw-Hill launched its second-generation device SmartBook 2.0 to enhance its McGraw-Hill Connect learning platform. SmartBook 2.0 creates a personalised learning experience by continuously adapting to individual student needs. This helps students to strengthen their fundamentals and come prepared to class and achieve good grades and knowledge simultaneously.
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Global Learning Management System Market Segmentation:
1. By Component
• Solution
• Services
2. By Delivery Mode
• Distance Learning
• Blended Learning
• Instructor-led Learning
3. By Deployment Type
• On-Premises
• Cloud
4. By User Type
• Corporate
o Healthcare
o Telecom
o Manufacturing
o Government and Defense
o Software and Technology
o Banking, Financial Services and Insurance (BFSI)
o Others
• Academic
5. By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Rest of the World
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Key Takeaways:
• With the corporate sector integrating LMS in their training sessions, this opens more opportunities for the market to thrive
• A vast number of academic institutions are rapidly adopting LMS method to expand their market presence and gain more student enrolments shall augment the market further
Objectives of the Study:
• To provide with an exhaustive analysis on the learning management system market by component, by delivery mode, by deployment type, by user type and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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