Market Overview:
The global learning management system market has been expected to increase at a CAGR of 21.20%, with a value of USD 42.31 billion over the forecasted year of 2027.
The learning management system is a web-based application that assists in implementing and administering online training and learning programs. It provides numerous features like a customizable user interface, social learning, mobile compatibility, automation, pre-built, and custom courseware, and blended learning. It also offers a seamless experience on the front and back, improved efficiency, support for multiple learning methods, and valuable insights. As it is fast, productive, cost-effective, and helps to improve learning, the demand for the learning management system market is escalating across the world.
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The increase in the adoption of the learning management systems for online learning and the inline classes to reduce the costs and the increase in convenience act as major drivers for the market. In addition, the increase in the penetration of smartphones coupled with the fast internet connectivity, rise in the preference among the consumers for learning management systems, and massive adoption of this system among the educational institutes accelerate the learning management systems market growth. However, the high prices of courses and unstable internet connections in remote areas decrease the market's growth. The demand for smart and interactive learning platforms like electronic learning, open online courses, mobile education, and online tutorials is rising remarkably with the growing preference for training and learning sessions. The educational institutes adopt tools to support and enhance the learning process and teach efficiencies. At the same time, the novel coronavirus pandemic caused the temporary closure of the entire market sectors around the world. The crisis has dramatically changed the entire education system, and it has escalated the demand for online learning platforms.
Market Segmentation:
The global market has been segmented into five basic categories: user-type, deployment model, delivery mode, application, and regional analysis. With the user type, the market is divided into two categories: academic & corporate. According to the deployment model section, the market is further divided into cloud-based and on-premise. By the delivery mode, it is further classified into two sections: distance learning and instructor-led training. As per the application section, the learning management system market is classified into four parts: administration, content management, performance management, etc. With the regional analysis part, the global market has been classified into five parts: Asia-Pacific, Europe, North America, South America, and Middle East & Africa.
Regional Analysis:
The driving factor for the growth of the learning management system market in North America is the presence of the learning management system platform pioneers like Docebo and iSpring, which successfully offer services to big and SMEs. The mobile learning initiatives and the policy implications in America indicate that the mobile learning efforts in Canada and the United States are generally school or district-led. North America is likely to hold the market for the learning management system due to the rising of high-tech activities across the entire region. The United States has a large number of colleges and universities. These factors would create huge opportunities for the players to expand their businesses in such a region. The Asia-Pacific is likely to showcase the strongest growth ever in the forecast period. China, India, Japan, Indonesia, Australia and several other developing regions focus on investing in the online education sectors.
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Industrial News:
In February 2020, the Chinese e-learning leaders like TAL Education Group and GSX Techedu had raised around USD 3.2 million to promote e-learning technology across the entire region.
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