LMS Market to Grow at 19.6% CAGR to 2023
The Global LMS Market size is expected to grow from US$ 9.2 Billion in 2018 to US$ 22.4 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 19.6% during the forecast period 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.
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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.
Top Key Players in the “LMS Market” include are
- Cornerstone On Demand(US)
- Blackboard (US)
- Saba Software (Canada)
- D2L Corporation (Canada)
- Adobe Systems US)
- CrossKnowledge (US)
- Oracle (US)
- SAP SE(Germany)
- Docebo(Canada)
- Schoology(US)
- IBM(US)
- Epignosis(US)
- MPS Interactive (India)
- Pearson PLC (UK)
- McGraw Hill(US)
- SumTotal Systems LLC(US)
- Absorb Software LLC(Canada)
- InstructureInc(US)
- iSpringSolutions Inc.(US)
- G-Cube (India)
- Latitude CG
- LLC (US)
- UpsideLMS (India)
- Paradiso (US)
- SkyPrepInc(Canada)
- Knowledge Anywhere(US)
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The Study Objectives of this report are:
- To define, describe, and forecast the LMS market based on component, delivery mode, deployment mode, user type, and regions
- To analyze the market’s subsegments with respect to the individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the market for stakeholders and provide the competitive landscape of the market
- To forecast the revenue of the market’s segments with respect to 5 major regions, namely, North America, Europe, Asia Pacific (APAC),Latin America, and the MEA
- To profile the key players and comprehensively analyze their recent developments and positioning in the LMS market
- To analyze the competitive developments, such as mergers and acquisitions, new product developments, and R&D activities in the market
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The report would help the market leaders/new entrants in the following ways:
• It comprehensively segments the LMS market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across the major regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystem, new service developments, partnerships, and acquisitions.
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