Sat. Oct 23rd, 2021

The global learning management system (LMS) market is set to gain impetus from the increasing number of millennials in the working population. In 2017, Manpower Group, for instance, mentioned that by 2020, around 35% of the total population is expected to contain millennials. This information is given by Fortune Business Insights™ in a report, titled, “Learning Management System Market, 2021-2028.” As per the report, the market size was USD 10.84 billion in 2020. It is projected to grow from USD 13.38 billion in 2021 to USD 44.49 billion in 2028 at a CAGR of 18.7% in the forecast period.

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A list of renowned providers operating in the global LMS market:

  • 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)

COVID-19 Pandemic: Closure of Schools and Colleges Have Spurred Demand Dramatically

The COVID-19 pandemic has resulted in the temporary shutdown of colleges, schools, and other educational institutions. The World Economic Forum (WEF), for instance, stated that across 186 countries, more than 1.2 billion students were affected by school closure because of the pandemic in April 2020. Hence, the demand for online learning platforms has surged globally. China’s government has also encouraged educational institutions to adopt LMS software solutions to help students with their studies amid this pandemic.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visithttps://www.fortunebusinessinsights.com/enquiry/queries/learning-management-system-market-101376

Segments-

IT & Telecom Sub-segment Held 20.2% Share in 2020: Fortune Business Insights™

Based on end-users, the market is bifurcated into academic and corporate. The corporate segment is further sub-segmented into transportation, BFSI, government, IT & telecom, energy & utilities, manufacturing, retail, healthcare, and others. Out of these, the IT & telecom sub-segment earned 20.2% in terms of the LMS market share in 2020. This growth is attributable to the increasing demand for online training and flexible work environments among companies.

Report Coverage-

Our detailed research reports offer a comprehensive coverage of this industry, ensuring a deep and holistic understanding of the market. It also provides granular and actionable data. We strive to ensure that you receive the best strategies for increasing sales of your products. Our key mission is service orientation. We also conduct extensive primary and secondary research to help you track the latest innovations, regulatory developments, and competitive landscape.

Drivers & Restraints-

Ability to Track, Automate, and Distribute Content will Favor Growth

Nowadays, various educational institutions are utilizing online interactive learning methods because of the rapid adoption of cloud and surging internet penetration across the globe. LMS software solutions provide a user-friendly platform for creating and distributing content throughout social media, smartphones, and websites. At the same time, they help in automating, tracking, reporting, and administering online learning courses. However, some colleges and schools still use traditional teaching and learning practices. It may hinder the learning management system market growth in the near future.

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Regional Insights-

Increasing Number of Colleges in U.S. to Help North America Dominate

Geographically, in 2020, North America procured USD 4.88 billion in terms of revenue. It is anticipated to remain at the forefront in the upcoming years. This growth is attributable to the rising number of universities and colleges in the U.S. According to the Australian Trade and Investment Commission, for instance, since 2013, the U.S. accounted for around 58% of the global Ed-tech contracts. On the other hand, Europe is likely to show steady growth because of the surging usage of open source LMS in the region.

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