Rise in Adoption of E-Learning Across Institutions to Create Growth Opportunities for Learning Management System Market Players During 2021–2028
According to our latest market study on "Learning Management System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Deployment Mode, Delivery Mode, and End-User," the market is projected to reach US$ 50,995.16 million by 2028 from US$ 14,895.17 million in 2021; it is expected to grow at a CAGR of 19.2% from 2021 to 2028.
With e-learning, educational content is delivered to learners through tablets, laptops, computers, or smartphones. It has changed education's face as learners understand better through the information presented using animation, podcasts, and videos that create a multimodal and realistic learning environment. Further, instead of receiving a passive experience, learners can quickly and easily opt for what they need to learn. In addition, e-learning platforms often allow learners to decide the next courses they want to study.
Learning Management System Market – by Region, 2021 and 2028 (%)
Learning Management System Market Share Report, Global Statistics & Forecast 2028
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Learning Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment Mode (On-Premise and Cloud), Delivery Mode (Distance Learning, Instructor-Led Training, and Others), and End-User (K-12, Higher Education, and Corporate)
Learning Management System Market Share Report, Global Statistics & Forecast 2028
Download Free SampleLearning Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment Mode (On-Premise and Cloud), Delivery Mode (Distance Learning, Instructor-Led Training, and Others), and End-User (K-12, Higher Education, and Corporate)
A rise in the adoption of e-learning methodologies among colleges and universities is creating the need for learning management software. The onset of the COVID-19 pandemic has transformed the education sector worldwide. As per the World Economic Forum report, even before the COVID-19 pandemic, the global EdTech investments reached US$ 18.7 billion in 2019, and the overall market for online education is expected to reach US$ 350 billion by 2025. There has been a significant surge in language apps, virtual tutoring, video conferencing tools, and online learning software, among others, since the COVID-19 pandemic.
Further, BYJU an educational technology and online tutoring firm based in Bengaluru, India has seen a 200% increase in new students since it announced free live classes. Similarly, Tencent's classroom has been used extensively since mid-February 2020, after the Chinese government instructed a quarter of a billion full-time students to resume their studies through online platforms. The online classes resulted in the most remarkable transformation in the education system in the country as ~730,000 (i.e., 81%) of K-12 students started attending classes through the Tencent K-12 Online School in Wuhan, China. The rise in demand for products facilitating an efficient e-learning experience to staff and students is fueling the learning management software market growth.
The learning management system market is segmented based on deployment mode, delivery mode, end-user, and geography. Based on deployment mode, the market is segmented into on-premise and cloud. Based on delivery mode, the learning management system market is segmented into distance learning, instructor-led training, and others. The learning management system market, based on end user, is segmented into K-12, higher education, and corporate. Based on geography, the learning management system market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for a significant share of the learning management system market.
Impact of COVID-19 Pandemic on Learning Management System Market
The COVID-19 pandemic has shaken several industries. The tremendous growth in the virus spread has urged governments worldwide to impose strict restrictions on vehicles and human movement. Due to travel restrictions, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries, including manufacturing & construction, retail, transportation & logistics, and automotive.
In 2020, the COVID-19 pandemic positively impacted the learning management system market due to an increase in e-learning across several countries. From 2021 to 2022, the demand for the LMS platforms increased due to the rising trend of bring your own device (BYOD) among enterprises. The COVID-19 pandemic has created a massive demand for BYOD trend as workers suddenly migrated to remote locations, resulting in new hybrid work environments. Therefore, the growth of the global learning management system market in 2021 and 2022 is expected to be positive.
The key players operating in the learning management system market include Blackboard Inc., Cornerstone, D2L Corporation, Docebo, International Business Machines Corporation, itslearning AS, LTGplc, Hurix, SAP SE, and Zoho Corporation Pvt. Ltd.
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