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IC_17776
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Pages: 250
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Nov 2017 | 5090 Views
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Author's :
Soumya Swarup Sahoo
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Tables: 105
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Charts: 49
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Learning Management System (LMS) Market was valued at $4,396 million in 2016, and is estimated to reach $15,391 million by 2023, growing at a CAGR of 20.0% from 2017 to 2023. LMS including cloud and on-premise deployment models, is offered by prominent LMS solution providers, such as Litmos Limited, Oracle Corporation, Paradiso Solutions, Saba Software, Inc., and others, to enhance learning management solutions among the users. The global LMS market is expected to witness significant growth, due to the rise in ICT expenditure by governments of various developed and the developing regions, including North America, Europe, and Asia-Pacific.
The Asia-Pacific LMS market is expected to register the highest CAGR in the near future, as countries such as China, India, Japan, and Australia offer lucrative opportunities for market players. Global vendors are investing high capital in the market to improve the overall LMS solution offering to ensure low-cost and optimized employee training modules and solutions. Moreover, increase in demand for low cost cloud deployment and surge in bring your own devices (BYOD) are key drivers of the European LMS market.
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Growth in number of connected devices in IoT and surge in demand for on-line employee engagement programs contribute to the market growth in North America and Europe. LAMEA is expected to account less market share as compared to other regions, due to slow ICT spending and slow adoption of e-learning solutions. Furthermore, Latin America and Middle East are expected to gain traction, but the growth is expected to be stable during the forecast period.
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Learning Management System (LMS) Market Segmentation
The global LMS market is segmented based on deployment model, user type, industry vertical, and geography. Based on deployment model, it is categorized into cloud and on-premise deployment models. By user type, it is divided into academic and enterprises. The industry vertical segment includes government & education, retail, healthcare, it & telecom, manufacturing, hospitality, and others.
The key players profiled in the report are Blackboard Inc., CrossKnowledge, JZero Solutions Ltd, Litmos Limited, Oracle Corporation, Paradiso Solutions, Saba Software, Inc., SAP SE, SumTotal Systems, LLC, and TalentLMS. The report discusses the key strategies adopted by these companies along with the detailed analysis of the current trends, upcoming opportunities, and restraints with detailed information about their impacts.
Top Impacting Factors
Growth in Adoption of e-Learning Platform
Increase in demand for web-based learning platform among academics institutes including schools and universities are expected to favor market growth during the forecast period.
Surge in Demand for Bring Your Own Device (BYOD)
With surge in adoption of digital technology and increased preference of BYOD, enterprises are focused on implementing LMS over smart phones for integrated employees training.
Increase in Inclination Toward Cloud Deployment Model
The cloud-based deployment model does not involve capital cost and is low on maintenance requirements. Hence, it is most preferred by various enterprises including SMEs and large enterprises.
Lack of IT Infrastructure in The Underdeveloped Nations
Countries in Latin America, the Middle East, and Africa are not yet technologically advanced hubs with rich IT infrastructure and digital content, which in turn is expected to hinder the global market in the near future.
Growth in Internet of Things (IoT)
The learning management system (LMS) market is expected to witness market development in the coming years, due to increase in expenditure on IoT technology by several governments in regions such as North America, Europe, and Asia-Pacific.
Key Benefits
The global learning management system (LMS) market is expected to reach $15,391 million by 2023, owing to growth in the demand for e-learning solutions, low cost training program by enterprises, and increase in ICT expenditure. In addition, surge in alliances and collaborations among various key vendors and users, especially in the developing countries, is expected to fuel the growth. However, lack of awareness and inadequate IT infrastructure in underdeveloped regions including Africa and the Middle East are expected to hinder the LMS market growth.
LMS provides end-to-end customization and support to create web-based learning portals and training modules to enhance learning skills through remotely accessed on-line tools. The primary user groups in LMS market are academic institutes and enterprises. LMS has emerged as a top trend across several industry verticals, including retail, hospitality, healthcare, and others, in the recent years, owing to optimized training and skills development solutions.
In 2016, the on-premise deployment model segment was the highest contributor, in terms of revenue, followed by the cloud deployment in the global learning management system (LMS) market. Furthermore, the cloud deployment is anticipated to witness the highest growth rate, owing to access portability and low cost of installation.
The government & education segment contributed the highest revenue share in 2016; however, the other industries segment including automotive, supply chain, and other business service providers is anticipated to witness significant growth in the near future, owing to optimized synchronization among in-store, online, and mobile applications for maintaining consistent learning environment for employees and students. The LMS market in government & education segment is projected to grow at the second fastest rate during the forecast period.
Key market players have adopted new product launch, business expansion, acquisition, and strategic alliances as their key strategies to create more awareness about LMS and increase adoption across various user types including academic and enterprises in the global market.
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