July 21, 2024
Ict

The global Learning Management System Market Growth Accelerated by Increased Adoption of Cloud-based LMS

A Learning Management System (LMS) is a software application or Web-based technology used to plan, implement and assess a specific learning process. Typically, an LMS provides an instructor a way to create and deliver content, monitor student participation, and assess student performance. It also provides students access to learning content and the ability to interact with each other and instructors through online forums and classroom tools.

The global Learning Management System Market is estimated to be valued at US$ 15.88 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased adoption of cloud-based learning management systems is one of the key trends driving the growth of the LMS market. Cloud-based LMS offers various advantages over traditional on-premise LMS such as scalability, reduced IT overhead, easy updates and upgrades, and pay-as-you-go pricing. With cloud technology, education providers can access course content from any internet-enabled device while paying only for the resources used. The demand for cloud-based LMS is growing as they provide institutions the flexibility to manage costs with scalable, subscription-based pricing models.

Segment Analysis
The global learning management system market is segmented by deployment, delivery mode, end user and application. The cloud-based sub segment holds the dominating position under the deployment segment. This sub segment is dominating owing to low cost of deployment as compared to on-premise LMS. Organizations are preferring cloud based LMS over on-premise LMS due to benefits like easy accessibility and flexibility to use LMS from anywhere.

Key players

Key players operating in the learning management system market are Cornerstone Ondemand Inc., Xerox Corporation, IBM Corporation, Netdimensions Ltd., SAP SE, Blackboard, Inc., SABA Software, Inc., Mcgraw-Hill Companies, Pearson PLC, and D2L Corporation. Cornerstone Ondemand Inc. holds the leading position in global LMS market owing to its wide range of offerings and international presence.

Regional analysis

Asia Pacific region is expected to be the fastest growing region during the forecast period. Countries like China, India are witnessing increasing demand of LMS solutions from corporate as well as education sector. Initiatives taken by governments in countries like India to promote digital education are propelling the LMS market growth in Asia Pacific region.

Key Takeaways

The global Learning Management System Market is expected to witness high growth during the forecast period of 2023 to 2030. The global Learning Management System Market is estimated to be valued at US$ 15.88 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it