Published Date : Nov 21, 2017
ALBANY, New York, Nov 21, 2017 – MarketResearchReports.biz has announces the availability of a fresh business and commerce study in its repository, titled “Learning Management Systems (LMS) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.” The report, compiled by a group of professional market research analysts, aspires to serve as a credible business tool for its targeted audiences such as leading hardware and service providers, software providers, education consultants, eLearning course providers, system integrators and administrators, educationists, internet service providers, cloud service providers, government authorities, and university bodies. The report offers comprehensive assessment of the market for learning management systems in its current scenario, analyzes the trends, drivers, and restraints that will favor or obstruct the market’s prosperity, segments it on the basis of deployment, module, user group, and geography, and finally presents an overview of the competitive landscape by profiles some of the key companies operating in the market.
As per the projections of the report, the global learning management systems market will increment at an impressive CAGR of 19.9% during the forecast period of 2016 to 2024, reaching a valuation of US$18.8 bn by the end of 2024, significantly up from its evaluated worth of merely US$3.4 bn in 2015. Some of the key factors favoring the global LMS market are: increasing adoption of digital learning, bring your own device policies, growing emphasis on continuous learning, and increased collaboration between learners and trainers. On the other hand, the lack of integration of LMS with user’s system, need for compliance norms, limitations of customization, personalization, and in-house content authoring feasibility options for end-users, lack of skilled subject-matter personal, and unavailability of adequate after-sales technical support are some of the factors challenging the LMS market. Nevertheless, the vendors of learning management systems market will gain new opportunities from growing usage of wearable eLearning technologies and gadgets, advent of augmented and virtual technologies, growing demand for learning through games among children, and increasing cloud adoption among organizations.
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Based on deployment, the report segments the global LMS market into on-premise and hosted. In 2015, on-premise deployment dominated the market, particularly in the region of the Middle East and South America. This is a reflection of growing adoption of learning management systems by large enterprises. Based on module, the market has been bifurcated into content delivery and management, administration, progress management, user management, interaction and integration technologies, and others. On the basis of user group, the report categorizes the LMS market into corporate and education including kindergarten, K-12, and higher education.
Geographically, the report gauges the potential of learning management systems market in the region of North America, Asia Pacific, Europe, the Middle East and Africa, and South America. Currently, the developed country of the U.S., wherein adoptability rate of new technology is high, makes North America the most lucrative region. The strong demand from this region is also driven by the presence of large number of universities that offer online courses, technological investments in corporate sector, and proliferation of smart devices such as laptops, smartphones, and tablets.
As far as the competitive landscape is concerned, the global learning management systems market is moderately consolidated with top five players, viz. SAP SE, Oracle, SkillSoft Limited, Cornerstone OnDemand, and Saba Software, reserving 40% of the demand in 2015. In the near future, most of the vendors are expected to offer wide range of innovative e-learning solutions in order to gain ground over the competition.
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