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The latest report by IMARC Group, titled “Learning Management System (LMS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global learning management system (LMS) market reached a value of US$ 13.5 Billion in 2021. A learning management system (LMS) is a programming application that provides a foundation, devices, and settings to online learning and training programs. It offers personalization of content as per the target audience and preferred learning styles, keeping trainees as a priority. LMS includes cloud and on-premise deployment models, which provide a customizable interface, social learning, mobile compatibility, automation, pre-built and custom courseware, as well as blended learning in several corporate organizations. In recent years, this technology has gained immense popularity as it provides a seamless experience and valuable insights, improves productivity, and supports a wide range of learning methods.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Learning Management System Market Trends:
The integration of artificial intelligence (AI) and machine learning (ML) has increased the significance of e-learning in corporate and academic setup, which represents the primary factor propelling the demand for LMS solutions. The growing inclination toward bring your own device (BYOD) trend is further fueling the market growth. Moreover, there has been a rise in the number of connected devices in the Internet of Things (IoT) and a surge in online employee engagement programs owing to the significant adoption of digital technology. Along with this, various SMEs and large enterprises prefer cloud-based deployment models that do not involve high capital costs and have low maintenance requirements. Furthermore, the rapid onset of coronavirus disease (COVID-19) has increased the need for e-learning platforms among academic institutions, which is catalyzing the product demand. Looking forward, the market value is expected to grow at a CAGR of 20.3% during the forecast period (2022-2027).
Market Summary:
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