Learning Management System Market To Witness a CAGR of 23% By 2025
The learning management system venders are focused on providing online courses and various hybrid courses such as flipped classrooms and blended learning.
The increasing adoption of digital learning processes in various organizations for training and education systems provides immense opportunities for growth of the learning management system market, globally. The implementation of bring your own device trend in various organizations has helped boost the LMS market in corporate segments. Owing to high advantages of BYOD trend such as cost saving, increase in innovation & productivity, employee's satisfaction and retention have attracted the corporate management to implement the BYOD culture in their organizations. In addition to this, increasing adoption of wearable devices for training has also advanced the LMS market in corporate segment.
Due to high advantages of wearable devices such as in depth product knowledge training, instant access to tutorials, real time support resources and effective use of company resources have increased the demand for wearable devices in corporate learning management system. According to Coherent Market Insights, over 275 million wearable device have been sold up from 232 million devices in 2015 and is estimated to reach 323 million by 2017. Moreover, the increasing adoption of new technologies such as gamification and virtual reality in the learning management systems provide advance features to the LMS products. With the help of virtual technology, the gamification increased the level of enjoyment and engagement by capturing the interest of learners, motivating them for continues learning.
The cloud deployment model held a dominant position in 2016 and is estimated to grow with the largest CAGR in the forecast period. The increasing high investment in the cloud market and rising adoption of cloud technology by various industries have increased the adoption of cloud technology in the learning management system.
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On the basis of delivery mode, the instructor-led training is estimated to grow at a CAGR of 24% in the global learning management system market and held a dominant position in the year 2016.
On the basis of user type, the corporate held a dominant position with US$ 3,637 million in 2016, owing to increasing demand for corporate trainings in various industries.
North America held a dominant position in the global learning management system market at a CAGR of 53% in 2016, owing to the growing trend of bring your own devices in North American countries such as the United States and Canada.
The Asia Pacific, followed by Europe is estimated to grow at a CAGR of 25.1% over the forecast period.. China and India are the major countries that drive the learning management market in the Asia Pacific region.
Some of the major players involved in the global learning management system market are Cornerstone Ondemand, Inc., Xerox Corporation, IBM Corporation, Netdimensions Ltd., SAP SE, Blackboard, Inc., SABA Software, Inc., Mcgraw-Hill Companies, Pearson PLC, and D2L Corporation.
Coherent Market Insights