DUBLIN--(BUSINESS WIRE)--The "Learning Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment Mode, Delivery Mode, and End-User" report has been added to ResearchAndMarkets.com's offering.
The global learning management system market is expected to grow from US$ 14,895.17 million in 2021 to US$ 50,995.16 million by 2028; it is estimated to grow at a CAGR of 19.2% during 2021-2028.
The current learning analytics landscape has dramatically expanded, especially for higher education. When students engage in gamified events, they can learn and practice better. Gaming features help create a fun and productive learning experience for learners. The implementation of gamification is most widespread in e-learning platforms meant for K-12 level students.
According to an article published by EducationWorld in December 2019, STEPapp launched India's first-of-its-kind Gamified Learning EdTech app, intending to revolutionize K-12 education in the country.
Further, since the introduction of virtual reality (VR) and augmented reality (AR) into education, the class learning experience has undergone a tremendous transformation. While VR provides a built reality, AR provides a real image with an improved view.
Thus, a surge in the integration of virtual reality, augmented reality, and gamification technologies across educational institutions offers better academic results, creating the demand for LMS platforms to support their implementation, generating opportunities for the future growth of the learning management system market.
Impact of COVID-19 Pandemic on Global Learning Management System Market
The COVID-19 pandemic has shaken several industries. The tremendous growth in the virus spread has urged governments worldwide to impose strict restrictions on vehicles and human road movement.
Due to travel restrictions, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries, such as manufacturing & construction, retail, transportation & logistics, and automotive.
In 2020, the COVID-19 pandemic positively impacted the learning management system (LMS) market due to an increase in e-learning across several countries. For instance, according to the World Economic Forum report of April 2020, more than 1.2 billion students in 186 countries were affected by school closures due to the pandemic. In Denmark, students up to the age of 11 are returning to nurseries and schools after initially closing on March 12, 2020.
However, in South Korea, students respond to roll calls from their teachers through online platforms. Thus, schools and universities have increasingly adopted the e-learning system since the start of the COVID-19 outbreak. Therefore, the overall impact of the pandemic on the learning management system (LMS) market in 2020 was positive.
Similarly, from 2021 to 2022, the demand for the LMS platforms increased due to the rising trend of bring your own device (BYOD) among enterprises. The COVID-19 pandemic has created a massive demand for BYOD trend as workers suddenly migrated to remote locations, resulting in new hybrid work environments. Therefore, the growth of the global learning management system (LMS) market in 2021 and 2022 is expected to be positive.
The key companies operating in the learning management system market include Blackboard Inc., Cornerstone, D2L Corporation, Docebo, International Business Machines Corporation, its learning AS, LTGplc, Hurix, SAP SE, and Zoho Corporation Pvt. Ltd.
Scope Highlights
- In 2021, the cloud segment accounted for the larger market share.
- In 2021, the instructor-led training segment accounted for the largest market share.
- In 2021, the higher education segment accounted for the largest market share.
- In 2021, North America accounted for a significant market share in the global learning management system market.
Key Market Dynamics
Market Drivers
- Rise in Adoption of E-learning Across Institutions
- Integration of Technologies such as Artificial Intelligence
Market Restraints
- Presence of Free of Cost Learning Management Platforms
Market Opportunities
- Adoption of Immersive Learning with Virtual Reality, Augmented Reality, and Gamification
Future Trends
- Implementation of BYOD in Enterprises
Company Profiles
- Blackboard Inc.
- Cornerstone
- D2L Corporation
- Docebo
- International Business Machines Corporation
- its learning AS
- LTGplc
- Hurix
- SAP SE
- Zoho Corporation Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/vr8do6
