Learning Management System Market Report 2023: Need for Efficient and Accessible Learning Bolsters Growth
DUBLIN, May 15, 2023 /PRNewswire/ -- The "Learning Management System Market by Component, Delivery Mode (Distance Learning, Instructor-Led Training, and Blended Learning), Deployment Type, User Type (Academic and Corporate) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The LMS market size is expected to grow from USD 18.7 billion in 2022 to USD 43.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.4% during the forecast period. The increasing adoption and proliferation of the e-learning industry and the increasing adoption of cloud-based LMS solutions are a few factors driving the growth of the LMS market.
The service providers assist learners in individual professional development for career path planning and professional development
These service providers handle the implementation of solutions tailored to fit the business processes, such as network services. LMS service providers assist and support organizational entities, such as customers, partners, support teams, marketing teams, and employees, with individual development and training.
With apt support, users can upgrade and maintain the deployed solution for a longer duration
Support services are crucial, as they directly deal with customer issues, which, in turn, impacts customer satisfaction. Every solution vendor has a dedicated support team to serve its customers. Support, solution maintenance, customer portals, post-deployment assistance, and client testimonials are a few services provided through the support services segment.
Blended learning enables flexibility for the teachers and students to access learning material through LMS
Companies are creating customized mobile applications that can be used to train new and existing employees. These applications are like in-class learning applications, providing training and instructions using mobile devices. The growing trend of pre-recorded lectures, virtual instructor-led training, and the use of mobile devices has boosted the market growth of the blended learning delivery mode.
Employees in the corporates can access the learning content to learn at their own pace and refresh their knowledge
Enterprises need content management solutions to organize all the new learning content to train employees about the safety and health regulations related to the pandemic. The revenue growth of this segment is expected to be driven by the rapid utilization of LMS in business operations such as sales development, leadership skills training and assessment, product promotion and training, recruitment and communication, corporate meeting, and customer relations. Companies are using learning management system platforms to train their employees better and share information about their products and services.
The introduction of policies to modernize the sector with private player participation and investment has boosted the demand for K12 education
The sudden emergence of the pandemic has forced schools and other educational institutions to shift to online learning platforms. This has boosted the demand for online K12 education. E-learning and software solutions provide well-organized enterprise resource planning systems to build improved courses and efficiently manage classrooms. Online platforms create virtual classrooms that enable teachers to manage a large audience without any budget constraints. Students get to have more one-on-one sessions with their teachers.
Advanced eLearning technologies, such as 3D images of internal organs and live interaction with experts, have increased the effctiveness of eLearning in the medical industry
Technological developments in the healthcare vertical have transformed this industry's functioning and made it important to train healthcare professionals and improve their knowledge and skills. Companies in this vertical normally select a corporate LMS that is compliant with the Joint Commission on Accreditation of Health Care Organizations process (JCAHO), Centers for Disease Control and Prevention (CDC), Occupational Safety and Health Administration (OSHA), Centers for Medicare & Medicaid Services, Health Insurance Portability and Accountability Act (HIPAA), and Good Clinical Practice (GCP). To keep track of the hospital personnel and abide to regulatory standards, it is essential to train administrators to offer on-demand learning and update the records easily. LMS also helps healthcare workers track their learning plans and progress.
The Cloud infrastructure provides better flexibility to trainers as well as learners with cost-efficient infrastructure.
As organizations focus on planning cost-effective training programs, businesses are leveraging the economies of scale provided through adopting cloud technology. This deployment type is easy-to-implement and easily addresses integration and customization challenges. Enterprises deploy hosted services to improve centralization, enhance flexibility, enable data collaboration, and reduce data loss during transit. Cloud LMS providers are actively delivering continuous innovations with security as the priority. SumTotal Systems, Docebo, TalentLMS, and Expertus are some vendors who provide cloud based LMS. The global market for cloud based LMS solutions is expected to grow at a substantially high rate in the coming years.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Learning Management System Market, by Component
7 Learning Management System Market, by Delivery Mode
8 Learning Management System Market, by User Type
9 Learning Management System Market, by Deployment Type
10 Learning Management System Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent Markets
For more information about this report visit https://www.researchandmarkets.com/r/rg0sqw
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