Learning Management Systems Market Growing at 20.5% CAGR | Reach USD 81.22 Billion by 2030 Globally
Learning Management Systems Market
The global learning management system market size was valued at USD 12,793.52 million in 2020 and is projected to reach USD 81,223.80 million by 2030, growing at a CAGR of 20.5% from 2021 to 2030.
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Driving Factors
Rise in adoption for online learning and online classes to lower down costs and increase in convenience and penetration of smartphones coupled with fast internet connectivity drive the growth of the global learning management systems market. However, high prices of courses and unstable internet connections in remote areas restrain the market growth. On the other hand, surge in adoption by educational institutes and developments & initiatives toward digitalized education present new opportunities in the coming years.
Market Segmentation
The learning management system market is segmented into user type, deployment model, industry vertical, and region. Depending on user type, it is fragmented into academic and enterprises. By deployment model, the market is differentiated into on-premise and cloud. By industry vertical, the market is segmented into government & education, retail, healthcare, IT & telecom, manufacturing, hospitality, and others. Region wise, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players
The key players operating in the global learning management system market include Blackboard Inc., Callidus Software Inc., Epignosis LLC, John Wiley & Sons, Inc., Oracle Corporation, Jzero Solutions Ltd., Paradiso Solutions, SABA Software, Inc., SAP SE, and Sumtotal Systems, LLC. These players have adopted various strategies to increase their market penetration and strengthen their position in the learning management systems industry.
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North America to maintain its lead position by 2030
Based on region, North America held the highest market share in terms of revenue in 2020, contributing to more than one-third of the global learning management systems market, and is projected to maintain its lead position by 2030. This is attributed to the deployment of innovative LMS solutions to cater to various operational and e-learning demands among several user types such as academics and enterprises in the region. However, Asia-Pacific is estimated to register the fastest CAGR of 24.0% during the forecast period, owing to high demand for LMS solutions and the growth in the education sector, which include web-based and distance learning modules.
The cloud segment to offer lucrative opportunities
Based on deployment model, the cloud segment contributed to the highest market share in 2020, accounting for more than half of the global learning management systems market, and is projected to continue its leadership status during the forecast period. Moreover, this segment is estimated to witness the largest CAGR of 22.9% from 2021 to 2030. This is due to increase in the mobile population and distributed workforce that raises the demand for e-learning or online training in the academic and corporate sectors. The research also analyzes the on-premise segment.
The government & education segment to maintain its dominance during the forecast period
Based on industry vertical, the government & education segment accounted for the largest market share in 2020, holding nearly one-third of the global LMS market, and is projected to maintain its dominance in terms of revenue during the forecast period. This is attributed to focus of governments on low-cost and high-quality education systems. However, the retail segment is expected to manifest the fastest CAGR of 23.6% from 2021 to 2030, owing to the need to train and educate staff with features and technicality of every newly launched product to offer better customer orientation than before.
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COVID-19 Scenario
● The trend of online education grew during the Covid-19 pandemic due to lockdown measures implemented by governments of many countries. This led to adoption of increased adoption of learning management systems by educational institutes and training centers.
● Universities and educational institutes began providing options of distance learning and online classes post-pandemic. This raised the demand for effective learning management systems to enable digitized learning.
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