Zion Market Research has published a new report titled “Learning Management System Market (Distance Learning, Instructor-Led Trainings, and Others) for Performance Management, Content Management, Communication & Collaboration and Others Applications: Global Industry Perspective, Comprehensive Analysis and Forecast,2016-2022”. According to the report, global learning management system market was valued at around USD 5.19 billion in 2016 and is expected to reach approximately USD 19.05 billion in 2022, growing at a CAGR of slightly above 24% between 2017 and 2022.
Learning management systems (LMS) is a software application used for planning, managing, delivering and appraising a learning process. Learning management system solutions use web-based technology to create and deliver content, track and evaluate the performance of users involved in learning the process. By LMS solutions, users can access the learning content and administration anytime and anywhere. Learning management system plays a vital role and acts as a central hub of learning for distributed learners enabling training and information sharing in the complicated process of imparting knowledge.
Increasing need of high-quality education are the major factors which are driving the growth of learning management system. In addition, constant need of continuous learning along with cost effective and efficient manner is growing the demand of learning management system market. However, lack of integration and degree of customization are hampering the growth of LMS market. Nonetheless, market trend of employing cloud technology will give the opportunity to drive the demand for learning management systems market in long run.
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Segmentation of learning management system market is done on the basis of delivery mode, user type and application vertical and region. Delivery mode is fragmented into distance learning, instructor-led training, and others. On the basis of user type the learning management market is divided into corporate and academic. Corporate segment dominated the learning management system market across the globe due to continuous up gradation of the corporate sector in terms of technology. Replacing conventional system with LMS system to create digital learning such as video-based training and presentation is escalating growth of learning management system market. Content management, performance management, communication and collaboration, administration and others are the vertical of LMS market. Applications of learning management system market are healthcare, BFSI, retail, telecom & IT and others.
Regional segmentation includes North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. By region, North America was the most dominant market in due to increasing trend of adoption of the online management system. North America is followed by Europe and Asia-Pacific.
The key participants in learning managements system are IBM Corporation, Blackboard Inc., SAP SE, ACS Technologies Group, Inc., McGraw-Hill Education, Oracle Corporation, Cornerstone Ondemand, Inc., IST AB, Saba Software, Inc., Skillsoft Limited and Upside Learning Solutions Pvt. Ltd., and others.
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[Source:-Tech Announcer]