CHICAGO, June 29, 2020
CHICAGO, June 29, 2020 /PRNewswire/ -- According to the new market research report "LMS Market by Component (Solution and Services), Delivery Mode (Distance Learning, Instructor-Led Training and Blended Learning), Deployment Type, User Type (Academic and Corporate), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global LMS Market size is expected to grow from USD 13.4 billion in 2020 to USD 25.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.0% during the forecast period. The major growth drivers for the market include increasing adoption of digital learning, growing inclination towards, Bring Your Own Device (BYOD) policy and enterprise mobility, extensive government initiatives for growth of LMS, growing usage of Artificial Intelligence (AI), and Machine Learning (ML) in LMS is increasing significance of eLearning in corporate and academic setups.
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The blended learning is expected to show the highest growth rate during the forecast period
Blended learning is a hybrid learning model, which offers an effective collaboration of traditional classroom learning and web-based online learning to engage educators and students present globally. In blended learning, traditional face-to-face classroom teaching is combined with computer-aided modules. eLearning is combined with traditional classroom methods, which results in a hybrid teaching model. Blended learning is time-saving, less expensive, effectively engages learners, and a flexible and creative way to guide learners. Every organization has its own set of operational processes and practices, for which employees are provided with extensive and periodic training. In recent times, training processes have transformed with the introduction of LMS solutions. Companies are creating customized mobile applications that can be used for training not only new but also the existing employees. These applications are similar to in-class learning applications and provide training and instructions through the use of mobile devices. The growing trend of pre-recorded lectures and virtual instructor-led training, and the use of mobile devices have boosted the market growth of the blended learning delivery mode.
The academic user type segment is estimated to have larger market share during the forecast period
Academic institutions, such as schools, colleges, universities, and private tutorials, are included in this segment. Academic end users in the market facilitate the process of learning and teaching through the share of data, voice, and video over LMS platforms. This helps streamline the education process by allowing mobility, interaction, and real-time teaching. The use of mobile phones and smart devices has become extremely popular among the younger generation. This is expected to boost the LMS Market for academic users. Usage of LMS in the academic sector open up new opportunities for the sharing of knowledge without boundaries of time and distance. The academic end user segment is further segmented into two broad sections: K-12 and higher education.
North America is expected to hold the largest market size during the forecast period
North America has is a mature market when it comes to technology. The increase in the usage of eLearning tools and technological advancement in learning methodologies have boosted the overall LMS Market for the North American region. The increased adoption of handheld devices, such as tablets and mobile phones, is also driving the LMS adoption trend in North America. This region is strongly controlled by government standards and regulations. Effective collaboration with universities and organizations between network arenas and institutions has helped the educators in this region to be more receptive towards technological change. LMS is expected to be the next step in the evolution of a more interactive learning experience and this is being deployed by several organizations in the North American region. The LMS Market in North America is highly progressive, since several organizations are implementing this to enable improved learning and participation with the educators. North America, especially the U.S. and Canada, is expected to integrate LMS solutions to increase collaboration in the learning environment and taking initiatives to renovate the ineffectiveness of conventional learning methods. Moreover, the implementation rate in North America is considerably much higher as compared to other regions, as enterprises here are more open and receptive to the implementation of LMS solutions.
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Key players in the global LMS Market include Cornerstone OnDemand (US), Blackboard (US), D2L Corporation (Canada), Adobe Systems US), CrossKnowledge (US), Oracle (US),SAP SE (Germany), Docebo (Canada), PowerSchool (US), IBM (US), Epignosis (US) , Pearson PLC (UK), McGraw Hill (US), SumTotal Systems LLC (US), Absorb Software LLC (Canada), iSpring Solutions, Inc. (US), G-Cube (India), Latitude CG, LLC (US), UpsideLMS (India), Paradiso (US).
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