According to Meticulus Market Research Pvt. Ltd. research, the learning management system LMS market is expected to reach $28.1 billion by 2025 with growth rate at CAGR of 20.5% during the forecast period of 2019 to 2025.
Learning management systems (LMS) is basically a web-based technology which handles the educational courses by helping the users in managing, planning, evaluating and presenting the content. LMS helps the companies and educational institutions to create and manage lessons, courses, and other training materials. These LMS platforms can be applied for all kinds of learning activities.
Proliferation of eLearning industry, increasing adoption of online learning tools, initiatives of different governments across the globe for digitization of education infrastructure and growing inclination towards a policy of bringing your own device (BYOD) has resulted in the consistent growth in the market of LMS. Lack of skilled trainers and instructors and eminent cost in implementing can also be obstacle to this growth.
learning management system tools helps businesses by giving them platform that their employees can use to gain knowledge that could keep themselves updated according to the technological advancements in the industry. While LMS for educational institutions helps to give the access to remotely located students.
Geographically, North America dominated the global LMS market in 2019. Europe stands next and on third Asia-Pacific. Main factors behind the large share of North America in LMS market are the technological advancements in the learning methodology, well managed internet infrastructure, high adoption rate of technology, and the availability of the established LMS vendors and start-ups. While another thing attributed to growth of LMS market across above mentioned regions is the higher usage of smartphones and cloud-based services as compared to other regions. While the report says Asia-Pacific region can witness the quickest increase LMS usage in the next few years.
Few dominant players that compete for greater market share of global LMS in all regional markets include SAP (Germany), Docebo (U.S.), Adobe (U.S.), Cornerstone OnDemand (Germany), and Blackboard (U.S.).
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