Learning Management Systems Market Size is Expected to Reach USD 81.22 Billion by 2030 | Growing at a CAGR of 20.5%

According to the report by Allied Market Research, the global learning management system (LMS) market garnered $5.15 billion in 2017, and is expected to reach $15.39 billion by 2023, growing at a CAGR of 20.0% from 2017 to 2023. The research offers an extensive analysis of changing market trends, major segments, key winning strategies, and competitive landscape.

Access to high-speed internet and an increase in the use of learning management systems among educational universities drive the global learning management systems market size. Furthermore, the rise in penetration of smartphones and laptops across the globe and the development of the digital education industry globally are the major factors that drive the growth of the market.

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However, poor internet connectivity in remote areas hampers the growth of the market. Moreover, the adoption of learning management systems by students to pursue educational degrees is one of the major growth factors of the LMS market.

Surge in digitized education, increase in demand for customized learning and focus on cloud deployment model drive the market growth. However, lack of IT infrastructure in underdeveloped countries restrains the market growth. On the other hand, rise in usage of internet of things (IoT) present new opportunities in the industry.

The global learning management systems market is in its developing phase, and exhibits high growth potential, due to rise in need for educational platforms among students, especially during the COVID-19 pandemic.

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The demand for learning management systems has increased considerably during the COVID-19 pandemic. This is attributed to increase in accessibility towards learning management among consumers and initiatives by governing bodies across the globe to curb the spread of virus by initiating online educations and exams. Moreover, learning management systems method is expected to be intact by economic downturn, and is anticipated to remain high during forecast period. Thus, these factors promote the growth of the learning management systems industry during the pandemic situation.

Based on user type, the enterprises segment held nearly two-thirds of the total share in 2017, and is estimated to continue its leadership position by 2023. On the other hand, the academic segment is expected to register the highest rate with a CAGR of 22.0% from 2017 to 2023.

Based on industry vertical, the government & education segment held the major revenue share in 2017, accounting for more than one-fourth of the total market share. This region is expected to maintain its lead position throughout the forecast period. Moreover, this segment would register the highest CAGR of 20.8% from 2017 to 2023. The research also analyzes retail, healthcare, hospitality, manufacturing, IT & telecom, and others.

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By deployment mode, the cloud segment acquired major share. Increase in mobile population and distributed workforce encourages the demand for e-learning or online training in the academic and corporate sector. Further, the benefits of cost and accessibility, and increasing technological advancements in learning platforms have encouraged the users to upgrade their traditional LMS to a more contemporary LMS. This has resulted in the growth of the learning management systems market during the forecasted period.

Region-wise, North America dominated the market in 2020, and is expected to maintain this trend during the forecast period. High demand for LMS solutions and growth in the education sector, which include web-based and distance learning modules, are expected to drive the growth of the LMS industry in this region.

Leading market players analyzed in the research include Blackboard Inc., JZero Solutions Ltd., CrossKnowledge, Oracle Corporation, Litmos Limited, Saba Software, Inc., Paradiso Solutions, SumTotal Systems, LLC, SAP SE, and TalentLMS. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.

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