Learning Management System Market (LMS) MARKET TO GROW OVER 24% CAGR

The global Learning Management System Market is anticipated to grow at a CAGR of 24.11% in the forecasted period of 2021 to 2029. Due to rising adoption of digital learning incorporates and academics, emphasizing on continuous learning and merging of learners and trainers are the key drivers which accelerate the market of learning management system, globally. Learning management system is a software application that assists in documentation, administration, reporting, tracking, and also to deliver electronic educational technology course also termed as e-learning.

In 2020, more than 87% of the consumers have migrated to cloud based learning management system, as compared to on premises learning management system which accounts to only 13%. Moreover, the growing spending on PaaS and SaaS portion of Cloud hardware and infrastructure software’s are reached $32 billion by 2020 from $8 billion in 2015. The growing demand for the cloud is boosting the growth in the global cloud based learning system. The cloud based learning management system is growing with a CAGR of 24.59% during the forecasted period 2021-2029.

The shifting trend of providing conventional courses on online platform is attributing towards the growth of the learning management system market in the higher education segment. Learning management systems is being significantly deployed in higher education institutions as the institutes are witnessing growing enrollments for online distance learning courses which results into higher demand for online courses across the globe. The growing number of enrollments for online courses has extended the scope for the learning management system in higher education system. The higher education segment is the revenue generator segment in the global market due to rising enrollment in the online and distance learning courses. The higher education market is growing with a CAGR of 25.9% during the forecasted period 2021 to 2029.

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The rising demand of learning management system is various verticals such as consulting, IT and telecom, manufacturing, banking, finance, security, and insurance(BFSI), government, retail, healthcare and many more has fueled the global learning management system market. The IT and telecom sector held the largest market share with 16.70% in 2020 and is anticipated to grow with a CAGR of 26.42% in the forecasted period.

On the basis of deployment model the market of learning management system is diversified into cloud and on-premises model. The cloud computing technology held the largest market share with 84.7% of the global market in 2020 and is anticipated to grow with the fastest CAGR of 24.59% during the forecast period. Due to increasing adoption of cloud computing technology is various verticals globally and providing remote facility for the service models such as cloud software as a service (SaaS), cloud platform as a service (PaaS) and cloud infrastructure as a service (IaaS) helps to increase the market of cloud learning management system market.

Geographically, learning management system market is diversified into four regions: North America, Europe, Asia Pacific and Rest of the world. The North America dominates the leading position with 60.2% of the global market in 2020. Due to presence of developed countries such as US, Canada and many more helps to fuel the North America market. Asia Pacific is the fastest growing market with a CAGR of 30.50% in the forecast period. Due to increasing adoption of internet users and increasing government initiative such as in India started NSDC program for training purpose helps to accelerate the market of Asia pacific learning management system market.   

Global learning management system market is exceedingly fragmented, as it has huge number of companies globally. Globally, around more than 500+ small and big players are operating in these markets. Furthermore, these companies are competitive in nature. They all are actively trying to cater new clients, with their rapid changing needs.  Some major companies involved in learning management system are; Moodle, Blackboard, Cornerstone, SkillSoft and D2L and many others. All these contributes more than 40% of the total market revenue. Majority of such companies are focusing toward the product launches in learning management system. The prominent market players in this industry include Cornerstone OnDemand (US), Blackboard (US), D2L Corporation (Canada), Adobe Systems US), CrossKnowledge (US), Oracle (US), SAP SE (Germany), Docebo (Canada), PowerSchool (US), IBM (US), Epignosis (US), Pearson PLC (UK), McGraw Hill (US), SumTotal Systems LLC (US), Absorb Software LLC (Canada), iSpring Solutions, Inc. (US), G-Cube (India), Latitude CG, LLC (US), UpsideLMS (India), Paradiso (US) and others.

MARKET MOVEMENT:

• The global learning management system market is anticipated to grow at a CAGR of 24.11% in the forecasted period of 2021 to 2029.
• The cloud based learning management system is growing with a CAGR of 24.59% during the forecasted period 2021-2029.
• The higher education market is growing with a CAGR of 25.9% during the forecasted period 2021 to 2029.
• The cloud computing technology held the largest market share with 84.7% of the global market in 2020 and is anticipated to grow with the fastest CAGR of 24.59% during the forecast period.
• The North America dominates the leading position with 60.2% of the global market in 2020.
• Asia Pacific is the fastest growing market with a CAGR of 30.50% in the forecast period.
• The market is fragmented, some major companies involved in learning management system are; Moodle, Blackboard, Cornerstone, SkillSoft and D2L and others account to over 40% of the total market revenue.

LMS Market is segmented into:

ATTRIBUTE	DETAILS
Research Period	2019-2029
Base Year	2020
Forecast Period	2019-2029
Historical Year	2019
Unit	USD Million
Segmentation	By Application   (2019-2029; US$ Bn)
By Delivery Mode (2019-2029; US$ Bn)
By Deployment Type (2019-2029; US$ Bn)
By Users Type (2019-2029; US$ Bn)
By Vertical (2019-2029; US$ Bn)
By Region (2019-2029; US$ Bn)
Covid-19 Impact (2020-2021; US$ Bn)

*Detailed segments are available on the report page

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