DUBLIN--(BUSINESS WIRE)--The "Learning Management System (LMS) Market by Product Offering (Solutions, Services), User Group (Education, Corporate), Delivery Mode (Distance Learning, Instructor-led Learning), Deployment Type (Cloud, On-Premise), and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global learning management system market is expected to grow at a CAGR of 20.5% from 2019 to 2025 to reach $28.1 billion by 2025
A learning management system (LMS) is a software application for the administration, documentation, tracking, reporting, and delivery of educational courses, training programs, or learning and development programs. The growth in the learning management system market is fuelled by several factors, such as increasing adoption & proliferation of e-learning industry, extensive government initiatives towards growth of LMS, and growing inclination towards bringing your own device (BYOD) policy.
However, lack of skilled trainers and instructors and high cost of implementation are the major restraining factors hindering the market growth.
Based on product offering, the overall LMS market is segmented into solutions and services.
The LMS solutions market is further segmented into content management, performance management, and administration. Services comprise of training and support, implementation, strategy and consulting, and design & development. Corporate LMS solutions commanded the largest share of the overall learning management system market by user group and this segment is also expected to witness the fastest growth during the forecast period.
The LMS applications are being accepted across verticals by organizations of all sizes as it provides robust features of training, analytics, and reporting. The corporate users implement LMS solutions as a tool for training and assessment of employees as well as to establish a better communication channel to broadcast instructions and suggestions to their workforce effectively.
On the basis of delivery mode, the distance learning segment is estimated to grow at the fastest CAGR during the forecast period.
In recent years, digitization and proliferation of internet has led to a radical technological changes in the education sector. One of the most important changes in education sector is in the form of distance learning. Several educational institutions have created solutions to cater to increasing educational needs through the development of distance education programs.
Schools and employers are recognizing that online courses can be just as effective as and sometimes more effective than classroom courses. Owing to several benefits, distance learning is expected to fuel the market throughout the forecast period.
Based on deployment type, the learning management system market is segmented into cloud-based solutions and on-premise solutions.
Among these, the cloud-based LMS solutions market is expected show the fastest growth rate during the forecast period. The adoption of cloud-based LMS in the training and development structure is growing rapidly. Moreover, cost efficiency and scalability of such solutions also add value to cloud-based deployment model. Due to the aforementioned advantages, most of the vendors are switching from on-premises deployment mode to cloud-based solutions. Cloud-based LMS providers are actively delivering continual innovation with security in priority.
In 2019, North America region is estimated to command the largest share of the global learning management system market, followed by Europe and Asia Pacific. The large share of North America is mainly attributed to technological advancements in the learning methodologies in this region, availability of developed internet infrastructure, high adoption of technology, and presence of majority of established learning management system players and start-ups in the region. The increased usage of smartphones and internet services is further supporting the growth of the LMS market across these regions.
Scope of the Report:
Market by Product Offering
- Solutions
- Content Management
- Performance Management
- Administration
- Services
- Training and Support
- Implementation
- Strategy and Consulting
- Design and Development
Market by User Group
- Education
- K-12
- Higher Education
- Corporate
- ICT
- Retail
- BFSI
- Hospitality
- Healthcare
- Manufacturing
- Government & Defense
Market by Delivery Mode
- Distance Learning
- Instructor-led Learning
- Market by Deployment Type
- Cloud
- On-premise
Market Dynamics
Drivers
- Rising Adoption and Proliferation of E-Learning Industry
- Increasing Government Initiatives Promoting the Use of E-Learning Solutions and Learning Management Systems
- Growing Inclination towards Bring Your Own Device Policy
Restraints
- Reluctance Among Instructors to Adapt to New Technologies
Opportunities
- Increase in Demand for Gamification in LMS
- Use of AR & VR in LMS
Challenges
- Lack of Skilled Trainer and Instructors / Hesitation in Adoption of New Technologies
- High Cost of Implementation and Lack of Infrastructure
Trends
- Emergence of Social Learning in LMS
- Distance Learning to Dominate Market
Companies Mentioned
- Cornerstone OnDemand
- SAP SE
- McGraw Hill Education
- Skillsoft
- D2L Corporation
- MPS Interactive
- Adobe Inc.
- Docebo
- Saba Software
- Blackboard
- Pearson
- Epignosis
- IBM
- Oracle Corporation
- Absorbs Software LLC
For more information about this report visit https://www.researchandmarkets.com/r/680cl8
