Asia-Pacific Learning Management Systems Market Seeking New Highs – 2022
Growth in adoption of e-learning and inclination towards “on-the-go learning practices” drive the Asia-Pacific LMS market.
PORTLAND , PORTLAND, OR, UNITED STATE, August 4, 2022 /EINPresswire.com/ — The Asia-Pacific learning management systems market is expected to reach $2,884 billion by 2022, growing at a CAGR of 34.2% from 2016 to 2022. In 2014, China dominated the market and contributed more than 26% share of the overall market revenue, followed by Australia.
Change in traditional education system and increase in number of start-ups in the e-learning industry in developing countries that sell online courses fuel the market growth.
The learning management systems market is driven by advantages provided by these systems such as centralized learning platform, easy tracking & reporting, and easy upgradation of product. However, lack of awareness and e-learning infrastructure hinder the market growth.
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In addition, several educational institutions have failed to adopt these systems, owing to financial issues and lack of trained staff. Moreover, economic progress in several developing countries in Asia-Pacific is anticipated to increase the global market growth.
On-premise LMS accounted for about 54% market share in 2014, thus dominating the market owing to high customization opportunities and data security offered by this model.
However, SaaS LMS segment is expected to grow significantly at a CAGR of 36.1% during the forecast period, attributed to the fact that it does not require any extra infrastructure or human resource for installation and management of the software. Moreover, China has contributed significantly in the on-premise LMS segment.
Among various countries, China contributed the maximum revenue share in 2014 and is also expected to lead the market over the forecast period. This is due to varied factors including presence of medium-sized business organizations along with large-sized organizations, and increased government initiatives. Moreover, adoption of the technology at a notable rate owing to its cost efficiency has boosted the growth of LMS in Asian countries, particularly in Australia, Japan, and India.
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Key players operating in this market aim to expand their business operations in the emerging countries with acquisition and product launch as their preferred growth strategies. Major players profiled in this report include SumTotal Systems, Inc., Cornerstone OnDemand Inc., Blackboard, Oracle Corporation, and SAP SE.
Moreover, the BFSI application segment is projected to be the fastest growing region throughout the analysis period. Establishment of new regulatory bodies, rise in competition, and increase in use of IT have revolutionized the way the industry conducts business. Moreover, in the healthcare industry, LMS is popularly implemented to provide quick and efficient training sessions to the staff with the use of e-learning.
Technological advancements for cost-effective LMS and its application not only for educational institutions and businesses, but also for nonprofit organizations in these nations, offer a lucrative opportunity for market growth.
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Key findings of the Learning Management Systems Market:
• In 2014, on-premise LMS deployment model led the overall learning management systems market revenue, and it is projected to grow at a CAGR of 32.5% during the forecast period.
• BFSI application is expected to exhibit highest growth rate, owing to the rise in competition and technological advancement.
• Currently, China dominates the market and is also expected to lead over the forecast period.
• Corporate users lead the overall Asia-Pacific LMS market, with about three-fourths of the market share.
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