Pune, India, March 11, 2021 (GLOBE NEWSWIRE) -- The global learning management system market is set to gain momentum from the increasing usage of multiple channels platforms by the millennials. Hence, several organizations are developing multichannel and tech-dependent training facilities. This information is given by Fortune Business Insights™ in a new report, titled, “Learning Management System (LMS) Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions, Services), By Deployment (On-Premise, Cloud), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By End User (Academic, Corporate), and Regional Forecast, 2020-2027.” The report further states that the LMS market size was USD 8.76 Billion in 2019 and is projected to reach USD 38.10 Billion by 2027, exhibiting a CAGR of 19.7% during the forecast period.
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Rising Usage of LMS Owing to Shutdown of Schools amid COVID-19 will Favor Growth
The COVID-19 pandemic has resulted in the complete shutdown of schools and colleges worldwide. Hence, it is rapidly transforming the education ecosystem. This has surged the demand for LMS software solutions and other online teaching tools amongst the faculties and students. This is creating multiple growth opportunities for a large number of online learning platforms, such as BYJU’S who are providing free access to students.
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Highlights of This Report:
- Extensive analysis of the drivers, hindrances, and dynamics of the market.
- Elaborate profiles of every company operating in the global market.
- In-depth information about the vital strategies followed by key companies.
- List of all the regions and segments and the dominating ones present in the market.
Drivers & Restraints-
Increasing Developments in Educational Sector Worldwide to Propel Growth
The conventional educational landscape is slowly changing because of the global technology revolution. Numerous countries, such as Australia, Singapore, China, the U.S., and the U.K. have already started investing huge sums for the development of the educational sector. Since 2014, the U.S. has been a leader in fundraising for this particular cause. Also, the increasing competition between several institutions to deliver technology-centered education to every student is further causing them to adopt learning management system solutions. However, the challenge associated with designing LMS as per the requirements of the masses may hamper the learning management system market growth in the coming years.
Academic Segment to Lead Backed by High Demand for LMS
Based on the end-user, the market is bifurcated into corporate and academic. Out of these, the academic segment is anticipated to generate more than half of the learning management system market share in the near future. This growth is attributable to the increasing usage of LMS solutions for higher studies. The BFSI sub-segment under the corporate segment held a share of 16.2% in 2019. It would exhibit a steady growth in the forthcoming years because of the high demand for a flexible environment for online training.
North America to Dominate Fueled by Rising EdTech Activities in the U.S.
In 2019, North America procured USD 3.97 billion in terms of revenue. It is expected to dominate the market stoked by the increasing number of EdTech activities taking place across the U.S. In Latin America, the government is taking several initiatives to develop its education sector. The Asia Pacific, on the other hand, is likely to become an emerging region in the forecast period because of the increasing adoption of LMS by Australia and China.
Key Players Focus on Enhancing Product Portfolios to Intensify Competition
The market is set to exhibit remarkable growth owing to the robust distribution network and strong product portfolios of reputed companies. It is also experiencing the entry of several domestic players because of the increasing financial support by venture capital firms. Below are two key industry developments:
- March 2020: D2L collaborated with Bayfield Design to provide free access to an online course on COVID-19. This complimentary and state-of-the-art course was specially developed by educators to help people better understanding the science behind coronavirus.
- December 2019: Absorb Software successfully acquired ePath Learning, a prominent cloud-based learning technology firm headquartered in Connecticut. This new acquisition would provide Absorb an opportunity to augment its vision and expand its reach in the industry.
List Of Key Companies Profiled In LMS Market Are
- McGraw Hill. (New York, United States)
- D2L Corporation. (Kitchener, Canada)
- SAP SE (Walldorf, Germany)
- Saba Software (Dublin, California, United States)
- Absorb LMS Software Inc. (Calgary, Alberta, Canada)
- Blackboard Inc. (Washington, D.C., United States)
- Cornerstone OnDemand, Inc. (Santa Monica, California, United States)
- Oracle Corporation (Redwood City, California, United States)
- IBM Corporation (Armonk, New York, United States)
- Paradiso Solutions LLC (Silicon Valley, California, United States)
- CrossKnowledge (John Wiley & Sons, Inc.) (Suresnes, France)
- JZero Solutions Ltd (Slough, Berkshire, United Kingdom)
- Edmodo (Mariners Island Blvd, San Mateo, CA, USA)
- UpsideLMS HR Tech Pvt. Ltd. (Pune, India)
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Major Table of Content:
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Market Share Analysis and Matrix, 2019
- Key Market Insights and Analysis, By Segments
- Global Learning Management System Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Component (Value)
- Consulting Services
- Implementation Services
- Support Services
- By Deployment (Value)
- By Enterprise Size (Value)
- Large Enterprises
- Small and Medium Enterprises (SME's)
- By End User (Value)
- Higher Education
- IT and Telecommunication
- Energy and Utilities
- Others (Media and Entertainment, Defense, etc.)
- By Region (Value)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
- By Component (Value)
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