The global market for Learning Management System market is expected to grow over the CAGR of around ~22% during the period 2016 to 2022 and expected to grow at market size of USD ~17 billion in 2022. Growing need of cost effective training & development system is boosting the Learning Management System Market.
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The global Learning Management System Market has been evaluated as growing market and expected that the market will touch high growth figures in upcoming years.
Absorb LMS, Moodle LMS, D2L bright space LMS, Edmodo LMS, and Canvas LMS are some of the popular learning management software in the market. Major industries such as IBM Corporation, Xerox Corporation, Oracle Corporation, and Edmodo among other prominent players are serving the demand of learning management software by industries such as corporate and academics among others.
Learning Management System Market:
The Learning Management System can be segmented into services, deployment model and applications.
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These services are provided by using cloud and on-premise deployment model to serve application sectors such as corporate and academics among others.
The major participants of this market are Edmodo (California), Blackboard, Inc. (U.S.), IBM corporation (U.S.), SAP SE (Germany), Xerox corporation (U.S.), Oracle Corporation (U.S.), McGraw-Hill Education (U.S.), Cornerstone On demand, Inc. (U.S.), D2L Corporation (Canada), and Saba Software, Inc. (U.S.) among others.
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Market Research Analysis:
A Learning management system is a software which manages and control all administrative framework of educational and corporate training & development context. It provides web based and mobile tools and infrastructure with powerful API and integration process to the management of the industries.
The growing concern for quality education and learning system is playing an important role in increasing the market of learning management software in the global region. Also, improving and increasing cloud solutions is supporting the market growth of this industry.
The cost-effective solution of the learning management software and increasing government initiatives is also fuelling the market growth. However, lack of skilled expertise is the current challenges for the market growth.
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
“Growing need for Learning Management System for training & development especially in academics and corporate sector is the key trend for this market. Growing cloud computing technology is developing opportunity for software developers to build efficient learning management software to serve the growing demand and therefore, America and Asia-pacific countries are taking many initiatives to build strong market of Learning Management System in the region “
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According to the report, Asia-pacific region is growing due to high demand of cost effective learning management solution by the industries and thereby is increasing Learning Management System market in the region. Further, the report state less maturity in end-users is a challenge to the market growth.
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