LMS Market by Component, Delivery Mode, Deployment Type, User Type, and Region - Global Forecast to 2025
DUBLIN, July 28, 2020 /PRNewswire/ -- 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.
In this form, the learning is delivered to the learner, anywhere and anytime via the browser. The adoption of cloud deployment type for LMS in the training and development structure is growing rapidly. Most of the vendors are switching from on-premises deployment mode to cloud-based solution. Cloud-based LMS providers are actively delivering continual innovation with security in priority. Some of the LMS cloud providers include SumTotal Systems, Docebo, SAP, Epignosis, ScholarLMS, and Expertus. The global market for cloud-based LMS solutions is expected to rise at a substantially high rate in the next 5 years.
Medical practitioners need to update their knowledge and skills to provide the latest treatment to the customers/patients. Keeping employees updated with new medical devices and pharmaceutical products is another key aspect of the training and development module in the healthcare sector. Advanced eLearning technologies like 3D images of internal organs and live interaction with experts have increased the effectiveness of the eLearning in the medical sector. The key skills training required in the retail industry is sales development, product training, leadership skills, product promotion, assertiveness, customer experience and care, retail recruitment, and communication. LMS in the retail industry usually focuses on areas, such as onboarding, compliance, sales skills, an product knowledge
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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
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