WILMINGTON, DE, UNITED STATES, December 15, 2023 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Learning Management Systems Market by User Type, Deployment Model, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global learning management systems market size was valued at $12.79 billion in 2020, and is projected to reach $81.22 billion by 2030, growing at a CAGR of 20.5% from 2021 to 2030.
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Access to high-speed internet and increase in use of learning management systems among educational universities drive the global learning management systems market size. Furthermore, rise in penetration of smartphones and laptops across the globe and development of the digital education industry globally are the major factors that drive the growth of the market. However, poor internet connectivity in remote areas hampers the growth of the market. Moreover, the adoption of learning management systems from students to pursue the educational degrees is one of the major growth factors of the LMS market.
Furthermore, the global learning management systems market is in its developing phase, and exhibits high growth potential, due to rise in need for educational platforms among students, especially during the COVID-19 pandemic. For instance, Blackboard, Inc., an American educational technology company announced that it will introduce Blackboard Reach, a new solution for K-12 institutions, in October 2020. The goal of the solution is to make it easier for parents to engage with instructors and have meaningful, in-person conversations. In addition, as several institutions were closed to maintain social distancing, schools and universities shifted their focus towards online coaching and adopted systems, which promote potential of the learning management systems market.
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The competitive environment of Learning Management Systems Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Learning Management Systems Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Callidus Software Inc.
John Wiley & Sons, Inc.
Jzero Solutions Ltd.
SABA Software, Inc.
Sumtotal Systems, LLC and Many More
Region-wise, North America dominated the market in 2020, and is expected to maintain this trend during the forecast period. High demand for LMS solutions and growth in the education sector, which include web-based and distance learning modules, are expected to drive the growth of the LMS industry in this region.
The demand for learning management systems has increased considerably during the COVID-19 pandemic. This is attributed to increase in accessibility towards learning management among consumers and initiatives by governing bodies across the globe to curb the spread of virus by initiating online educations and exams.
Moreover, learning management systems method is expected to be intact by economic downturn, and is anticipated to remain high during forecast period. Thus, these factors promote the growth of the learning management systems industry during the pandemic situation.
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