DUBLIN--(BUSINESS WIRE)--The "Global Learning Management System (LMS) Market - Segmented by User Type, Deployment Model, Delivery Mode, Application (Administration, Content Management, Learner Management), End-User Vertical, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global learning management system market was valued at USD 6.92 billion in 2017 and is expected to reach a value of USD 23.21 billion by 2023 at a CAGR of 22.35% over the forecast period of 2018-2023. North America holds the highest market share.
Adoption of BYOD Policies by Corporates
Globally, organizations are opting e-learning services for educating and training their employees owing to the incurring expenses of the traditional teaching methods. Adoption of BYOD in the organization culture facilitates organizations with benefits, such as cost savings, innovation, and productivity, along with access to online training materials, directly to the employees' devices supporting smart learning. Furthermore, the increased compatibility of learning management system with mobile devices and social learning have mandated the corporates to adopt BYOD culture. These policies are anticipated to drive the growth of the market.
Cloud-based Deployment Model to Lead the Market
The cloud-based deployment model is expected to lead the market over the forecast period, owing to the increasing adoption among large enterprises and SMEs. The organizations are switching to the cloud-based so that they can focus more on their core competencies and have least worries about their assets getting obsolete with fast-evolving technology. Moreover, SMEs are also adopting the cloud-based deployment model due to its cost efficiency. For instance, rapid adoption of LMS in the education sector due to the growing awareness of distance learning and quality education are also contributing to the growth of the cloud-based deployment model.
Notable Developments in the Market
- Cornerstone OnDemand, a company into cloud-based learning and human capital management software, announced that the University of Tennessee (UT) System has selected the company's learning and extended enterprise solutions to provide crucial training for its faculty and staff across six campuses and institutes, as well as certification programs for external stakeholders.
- Blackboard Inc.
- Cornerstone Ondemand Inc.
- D2L Corporation
- IBM Corporation
- McGraw-Hill Companies
- Oracle Corporation
- Pearson PLC
- SABA Software Inc.
- SAP SE
- Xerox Corporation
Key Topics Covered
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation
6. Competitive Intelligence - Company Profiles
7. Investment Analysis
8. Future of the Market
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