Learning Management System Market Size, Trends & Forecast Analysis to grow at a CAGR of 19+% to Reach $50,995+Mn by 2028

Learning Management System Market Size, Share, Global Industry Trends, Price, Future Analysis, Regional Outlook to 2028 Research Report

NEW YORK, UNITED STATES, November 30, 2022 /EINPresswire.com/ -- The Insight Partners has launched a new market report titled “Global Learning Management System Market Size, Share, Industry Trends and Forecast to 2028 COVID-19 Impact and Global Analysis – by Deployment Mode, Delivery Mode, and End-User," which is an output of a brief assessment and an all-inclusive analysis of the market’s key factors. The Learning Management System Market is projected to reach US$ 50,995.16 million by 2028 from US$ 14,895.17 million in 2021; it is expected to grow at a CAGR of 19.2% from 2021 to 2028. Rise in Adoption of E-Learning Across Institutions to Create Growth Opportunities for Learning Management System Market Players During 2021-2028.

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A rise in the adoption of e-learning methodologies among colleges and universities is creating the need for learning management software. The onset of the COVID-19 pandemic has transformed the education sector worldwide. As per the World Economic Forum report, even before the COVID-19 pandemic, the global EdTech investments reached US$ 18.7 billion in 2019, and the overall market for online education is expected to reach US$ 350 billion by 2025. There has been a significant surge in language apps, virtual tutoring, video conferencing tools, and online learning software, among others, since the COVID-19 pandemic.

Further, BYJU an educational technology and online tutoring firm based in Bengaluru, India has seen a 200% increase in new students since it announced free live classes. Similarly, Tencent's classroom has been used extensively since mid-February 2020, after the Chinese government instructed a quarter of a billion full-time students to resume their studies through online platforms. The online classes resulted in the most remarkable transformation in the education system in the country as ~730,000 (i.e., 81%) of K-12 students started attending classes through the Tencent K-12 Online School in Wuhan, China. The rise in demand for products facilitating an efficient e-learning experience to staff and students is fueling the learning management software market growth.

Global Learning Management System Market – Key Players Analysis: 

Blackboard Inc., Cornerstone, D2L Corporation, Docebo, International Business Machines Corporation, itslearning AS, LTGplc, Hurix, SAP SE, and Zoho Corporation Pvt. Ltd and many more.

The players operating in the learning management system market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market.

A few developments by key players in learning management system market are listed below:

In November 2020, Cire Services Inc. selected the leading cloud learning management system, d Blackboard, to help students in learning.

In April 2020, D2L Corporation planned to announce a significant partnership agreement with K16 Solutions, the industry leader in EdTech for LMS course migration. This development enables state-of-the-art migration and archiving solutions to institutions switching to D2L's Brightspace learning management platform.
 

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Report Coverage Details

Market Size Value in US$ 14,895.17 Million in 2021

Market Size Value by US$ 50,995.16 Million by 2028

Growth rate       CAGR of 19.2% from 2021 to 2028

Forecast Period; 2021-2028

Base Year; 2021

No. of Pages; 155

No. of Tables; 83

No. of Charts & Figures ; 82

Historical data available; Yes

Segments covered; Deployment Mode, Delivery Mode, and End-User

Regional scope; North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country scope; US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

Report coverage: Revenue forecast, company ranking, competitive landscape, growth factors, and trends

 
Global Learning Management System Market - Segmentation Assessment

Geography Overview

Based on geography, the global Learning Management System market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global Learning Management System market.

In 2021, North America accounted for a significant share of the learning management system market.
 
Segment Overview

Based on deployment mode, the market is segmented into on-premise and cloud.
Based on delivery mode, the learning management system market is segmented into distance learning, instructor-led training, and others.
Based on end user, is segmented into K-12, higher education, and corporate.

Impact of COVID-19 Pandemic on 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 movement. Due to travel restrictions, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries, including manufacturing & construction, retail, transportation & logistics, and automotive.
 
In 2020, the COVID-19 pandemic positively impacted the learning management system market due to an increase in e-learning across several countries. 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 market in 2021 and 2022 is expected to be positive.
 

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Global Learning Management System Market – Key Findings

Rise in adoption of e-learning across institutions and integration of technologies such as artificial intelligence are driving the growth of the learning management system market.

The market opportunity lies in developing countries. Developing countries have become a hub of opportunity for various markets, including learning management system market. Further, the adoption of immersive learning with virtual reality, augmented reality, and gamification and implementation of BYOD in enterprises are presenting significant potential for the future growth of the learning management system market players.

In 2021, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific (APAC). North America is a prospective market for learning management system developers.

Growth of the Learning Management System market across APAC, North America, Europe, Middle East and Africa, and South America.
Continued...

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Learning Management System Market Growth Forecasts with 19.2% of CAGR by 2028