Learning Management System (LMS) Market is anticipated to reach US$ 98.5 Billion in 2032

The learning management system (LMS) market is projected to grow at an astounding CAGR of 18.0% between 2022 and 2032. From US$ 18.8 Billion in 2022, the market is projected to grow to US$ 98.5 Billion in 2032.

According to this study, the market growth is anticipated to pick up speed during the forecast period as a result of factors like the expansion of initiatives and developments aimed at digitalizing education, widespread adoption of learning management systems among educational institutions, rising internet penetration, and rising smartphone adoption.

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The major factor that is expected to propel the growth of the learning management system market during the forecast period includes the growing demand for smart and interactive learning platforms, such as electronic learning (e-learning), open online courses, mobile education, and online tutorials, coupled with the growing preference for training and learning sessions. Educational institutes adopt tools to support and enhance the learning process and teaching efficacies.

Moreover, an increase in penetration of smartphones coupled with fast internet connectivity, rise in preference among consumers for learning management systems, and massive adoptions of these systems among educational institutes accelerate the learning management systems market growth.

Additionally, an integration of artificial intelligence (AI) offers significant opportunities for learning management systems companies to expand their offerings, owing to factors such as automation of human-intervened operations.

Key Takeaways from the Learning Management Systems Market Study

Global learning management system (LMS) market was valued at US$ 18.8 Billion by 2022-end
The US to account for the highest value share of US$ 31.9 Billion of global market demand for learning management systems in 2032
From 2015 to 2021, Learning Management System (LMS) demand expanded at a CAGR of 19.6%
By Component, the solutions category constitutes the bulk of learning management system with a CAGR of 17.2%.

"An increase in penetration of smartphones coupled with fast internet connectivity, and rise in preference among consumers for learning management systems are essential factors propelling the market growth during the analysis period," remarks an FMI analyst.

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Learning Management Systems Market Competitive Landscape-

Blackboard Inc., Callidus Software Inc., Epignosis LLC, John Wiley & Sons, Inc., Oracle Corporation, Jzero Solutions Ltd., Paradiso Solutions, SABA Software, Inc., SAP SE, and Sumtotal Systems, LLC, among others are the top companies in the global learning management system (LMS) market.

Players in the global Learning Management System (LMS) Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products, which would help them in strengthening their position in the global market.

Some of the recent developments among the key players are:

In July 2021, PowerSchool announced that it would price the class A common stocks at USD 18 per share in the New York Stock Exchange (NYSE). This would help the company repay outstanding debt expenses related to the IPO.

In December 2020, D2L partnered with Microsoft to integrate Brightspace LMS with Microsoft Teams. This would enhance the learning experience by allowing to access a private Teams space on Brightspace platform.

In October 2020, Blackboard launched Blackboard Reach, its new solution for K-12 institutes. The solution was aimed to help parents to connect with teachers and have meaningful and real-time discussions.

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Key Segments Covered In The Learning Management System Market Report

Learning Management System by Component:

Learning Management Solutions
Learning Management Services
Learning Management Consulting
Learning Management Implementation
Learning Management Support Services

Learning Management System by Delivery Mode:

Distance Learning Management Systems
Instructor-led Training Learning Management Systems
Blended Learning Management Systems

Learning Management Systems by Deployment Mode:

Cloud-based Learning Management Systems
On-Premises Learning Management Systems

Learning Management System by End User:

Learning Management Systems for Academics
K-12
Higher Education
Learning Management System for Corporates
Software & Technology
Healthcare
Retail
Banking, Financial, Services and Insurance (BFSI)
Manufacturing
Government & Defense
Telecom
Other Corporate Users

Learning Management System by Region:

North America Learning Management System Market
Latin America Learning Management System Market
Europe Learning Management System Market
Asia Pacific Learning Management System Market
Middle East and Africa Learning Management System Market

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.