Learning Management System Market Growth, Size, Emerging Trends, Key Players, Opportunities, Facts, Figures & Projections 2027
The global Learning Management System 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 need for efficient and accessible learning, and effective management of learning content are a few factors driving the growth of the LMS market.
Browse 390 market data Tables and 57 Figures spread through 333 Pages and in-depth TOC on “Learning Management System Market”
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Services provide learners with services for curriculum development and smooth installation, development, and maintenance of ongoing activities.
Education and learning service providers render various education-related services, categorized into consulting services, implementation services, and support services. These services provide learners with services for curriculum development and smooth installation, development, and maintenance of ongoing activities.
The support and maintenance services segment addresses technical queries and delivers cost-effective support, which enables improved business performance.
Service providers offer continuous support and maintenance sessions to users, as and when needed, to resolve business complexities. They also support organizations by helping them gain the expertise required for operating the newly adopted solutions. With support and maintenance services, users get a thorough idea of systematic procedures related to the deployed solution. Service vendors provide users with online and onsite support and maintenance to use the deployed solution better.
North America held the largest market size in 2022
North America is one of the most technologically advanced regions in the world. The adoption of LMS is expected to be the highest in North America. This is because of the rising inclination of American households toward intelligent technologies and the increasing investments by North American companies in advanced technologies, such as commercial and industrial IoT, 5G, cloud computing, and AI. The increasing number of alliances and partnerships among LMS and other technology providers for continuous technological innovations and advancements in LMS has further added to the growth of the global LMS market in North America.
Some of the major vendors offering LMS globally include Blackboard Inc.(US), Cornerstone (US), D2L Corporation (Canada), Instructure Inc. (US), PowerSchool (US), IBM (US), Infor (US), Adobe (US), LTG (UK), Google (US), Oracle (US), SAP (Germany), Docebo (Canada), Learning Pool (UK), LearnWorlds (UK), Talent LMS (US), Acorn LMS (Australia), MyLearning Hub (UK), LearnDash (US), Touvti LMS (US), 360Learning (France), Epignosis (US), LearnUpon (Ireland)], SkyPrep (Canada), Absorb LMS (Canada), CrossKnowledge (France), Seismic (US), Axonify (Canada), BizLibrary (US), Thinkific (Canada), iSpring (US), Blue Sky eLearn (US), Trakstar (US), DigitalChalk (US), KMI Learning (US), and Moodle (Australia).
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Cornerstone provides an extensive portfolio of LMS solutions, including Saba Learning, Cornerstone Xplore, and Cornerstone LMS. These solutions help organizations manage and train employees. The company deals in performance and learning products that manage education and development programs and measure the performance of individuals and groups. The company also provides consulting services to assist clients with selecting and implementing the most suitable solution that fulfills enterprise requirements. Cornerstone has witnessed consistent growth in the LMS market by adopting various organic and inorganic strategies. In terms of organic strategy, the company has continuously invested a significant portion of its revenue in R&D activities which has helped develop new products and solutions. In November 2021, Cornerstone launched Cornerstone Xplore, a new learning experience that offers a highly personalized learning experience to help employees learn at their own pace.
Blackboard Inc. is a leading EdTech company with a strong portfolio offering a wide range of solutions in the LMS market. It also has a strong market presence in the North American region, especially the K-12 school districts in the US and Canada. Blackboard launched its Blackboard Unite online learning platform, which included a suite of tools to help the K-12 sections shift to a remote learning environment. Blackboard has partnered with various distributors and third-party partners to expand its customer base in regions where it does not have a direct presence. In May 2021, Blackboard partnered with Baku State University, Azerbaijan, by offering Blackboard Learn, Blackboard Collaborate, and Blackboard Ally. Blackboard helped BSU create a scalable and connected learning environment for over 24,000 students and 1,500 faculty members.
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