Learning Management Systems Market : Top Factors That Are Leading The Demand Around The Globe By 2030
The increasing emphasis on corporate skill training is expected to drive the LMS market size during the forecast period.
PORTLAND, PORTLAND, OR, UNITED STATES, March 9, 2022 /EINPresswire.com/ — According to the report by Allied Market Research, the global learning management systems market garnered $5.15 billion in 2017, and is expected to reach $15.39 billion by 2023, growing at a CAGR of 20.0% from 2017 to 2023. The research offers an extensive analysis of changing market trends, major segments, key winning strategies, and competitive landscape.
A surge in digitized education, increase in demand for customized learning and focus on cloud deployment model drive the growth in the global learning management system (LMS) market. Based on region, North America held the major market share in 2017, accounting for nearly half of the total market share. This region is expected to maintain its dominance throughout the forecast period.
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The key players profiled in the LMS market are Blackboard Inc., CrossKnowledge, JZero Solutions Ltd, Litmos Limited, Oracle Corporation, Paradiso Solutions, Saba Software, Inc., SAP SE, SumTotal Systems, LLC, and TalentLMS. All these players are involved in the competitive strategies, such as geographical expansion, mergers & acquisitions, product portfolio expansion, and partnership to augment the LMS market growth.
Based on user type, the enterprises segment held nearly two-thirds of the total share in 2017, and is estimated to continue its leadership position by 2023. On the other hand, the academic segment is expected to register the highest rate with a CAGR of 22.0% from 2017 to 2023.
Based on deployment mode, the cloud segment held the largest revenue share in 2017, contributing nearly three-fifths of the total share. This segment is expected to continue its dominant share during the forecast period. On the other hand, the on-premise segment would register the fastest CAGR of 22.1% from 2017 to 2023.
Based on the region, North America held the major market share in 2017, accounting for nearly half of the total market share. This region is expected to maintain its dominance throughout the forecast period. Contrarily, the Asia-Pacific region would register the highest CAGR of 23.2% from 2017 to 2023.
Based on industry vertical, the government & education segment held the major revenue share in 2017, accounting for more than one-fourth of the total market share. This region is expected to maintain its lead position throughout the forecast period. Moreover, this segment would register the highest CAGR of 20.8% from 2017 to 2023. The research also analyzes retail, healthcare, hospitality, manufacturing, IT & telecom, and others.
KEY FINDINGS OF THE STUDY:
• The on-premise deployment model accounted for the highest share of the global market in 2016, growing at a CAGR of 18.4% from 2017 to 2023.
• North America learning management system (LMS) market generated the highest revenue in 2016, valued at $2,245 million.
• The academic segment dominated the LMS market, in terms of growth, during the forecast period.
• The U.S. dominated the global market in 2016. In addition, Canada, China, the UK, Australia, Japan, and the other emerging markets are anticipated to provide significant opportunities for major players.
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