DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
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 are increasing the adoption of digital learning, growing inclination towards, Bring Your Own Device (BYOD) policy and enterprise mobility, extensive government initiatives for the growth of LMS, growing usage of Artificial Intelligence (AI) and Machine Learning (ML) in LMS is increasing the significance of eLearning in corporate and academic setups. However, low motivation and engagement by organizations may restrain market growth.
Cloud deployment type segment is estimated to constitute the largest market size during the forecast period
In the cloud-deployed LMS, services are hosted over the internet connection, and users can log into the service provider's site. Teachers or trainers can upload course content, create new courses, and interact with learners via their internet browsers to refrain from the installation of the required management software. Instructional designers can store any information on the cloud, and this can be remotely accessed by approved users in any location.
This deployment mode is preferred for its features like better and enhanced security; lower setup costs; easy accessibility; quicker deployment; highly scalable; customizable; more storage space; ease of maintenance; automatic upgrade of course materials; and automatic licensing done by vendors.
Corporate user type segment is expected to grow at the highest CAGR during the forecast period
As businesses have become more competitive after the second wave of globalization, the importance of human resources has increased significantly over time and employee training and development has become a new norm. In various corporate organizations, industrial methods used for training and development are different.
For instance, the success of a software and technology company largely depends upon the skill/ability of the employees in the organization. Skill and knowledge required in the software and technology companies change at a faster pace compared to other industries. Research and development also play a key role in software and technology companies. To keep improving the skills of the employees, LMS in the software and technology companies is of key importance.
APAC is estimated to grow at the highest CAGR during the forecast period
APAC is one of the major regions for software providers, as it covers a large terrestrial area and the education industry across the region is expected to flourish. It continues to experience rapid growth in all areas of technology. The LMS adoption has openly been implemented in this region and rapid growth in population and increasing economic development makes this region the fastest-growing market, internationally. Some countries in this region are among the most technologically developed, while others are weak in terms of adopting the latest technology.
The APAC region demonstrates a combination of high growth, emerging economies, and the mass adoption of mobile and internet technology. Many learning solution vendors are expanding their reach and exploring opportunities in the APAC region by offering personalized learning environment and catering to the fluctuating demands of the market. Vendors are offering a wide range of flexible solutions for social learning, mobile learning, and adaptive learning to provide a continuous learning environment.
- Increasing Adoption of Digital Learning
- Growing Inclination Toward BYOD Policy and Enterprise Mobility
- Extensive Government Initiatives for Growth of LMS
- Growing Use of AI and Ml in LMS
- Increasing Significance of Elearning in Corporate and Academic Setups
- Low Motivation and Engagement to Adopt LMS Solutions
- Increase in Demand for Gamification in LMS to Provide Opportunities for LMS Vendors
- Rise in Cloud Adoption Among Organizations and Institutes to Motivate Learners to Adopt Web-Based LMS Solutions
- Rapid Demand for Collaborative Learning in LMS to Provide Opportunities for Trainees
- Lack of Technical Support Post Implementation of LMS
- Lack of Skilled Trainers and Instructors
- Cornerstone On-demand
- Adobe Systems
- Sumtotal Systems
- Absorb Software
- Ispring Solutions
- Lattitude Cg
- Upside LMS
- Knowledge Anywhere
- Cypher Learning
- Growth Engineering
- 360 Learning
- Mindscroll LMS
- Thought Industries
- Learning Pool
- Zeus Learning
- IMC Ag
- Swissteach Ag
- WBT Systems
- Accord LMS
For more information about this report visit https://www.researchandmarkets.com/r/4tnrwv