Learning Management System Market Share ($50,995.16 Million) Lead by Implementation of BYOD till 2028

Learning Management System Market to Surge with 19.2% of CAGR fuelled by Integration of Technologies such as Artificial Intelligence by 2028

NEW YORK, UNITED STATES, March 23, 2022 /EINPresswire.com/ -- According to The Insight Partners’ 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.

Market Size Value in - US$ 14,895.17 Million in 2021
Market Size Value by - US$ 50,995.16 Million by 2028
Growth rate - CAGR of 19.2% from 2021 to 2028
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages - 155
No. Tables - 83
No. of Charts & Figures - 82
Historical data available - Yes
Segments covered - Deployment Mode, Delivery Mode, and End-User
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Open-source learning management system (LMS) platforms are offered free on websites for professional use by educational institutions, including schools, colleges, and universities. These solutions enable institutions to record all data in their systems and manage it. Open-source LMS platforms are generally self-hosted web-based academic solutions with almost all features of well-established educational solutions, such as CAMPUS CAFÉ SOFTWARE and ACADEE SAS. The primary reason for adopting an open-source LMS platform among institutions is the reduced software purchase and implementation cost. The high price of software implementation and future upgrades compel small and medium (SMEs) institutions to adopt freely available solutions. Companies offering an open-source LMS platform include Moodle, Chamilo, Open Elms, and Edmodo. The institutions also eliminate the vendor lock-in period associated with paid LMS platforms by adopting an open-source LMS platform. Thus, open-source LMS platforms restrict the learning management system market growth by lowering the demand for paid software solutions.

Key Findings of Study:
The learning management system market is segmented based on deployment mode, delivery mode, end-user, and geography. Based on deployment mode, the learning management system 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. Based on end user, the learning management system market 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.

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The growing demand for efficient and accessible learning, corporates focusing on human capital development, effective management of learning content, and increasing cloud-based LMS platform adoption are the prominent factors attributable to the market growth. During the emergence of the pandemic COVID-19, vendors have experienced a significantly high demand for LMS solutions in 2020. Factors such as the closure of borders, supply chain issues, and stringent lockdowns were restraining factors for deploying onsite LMS solutions. The pandemic has forced businesses to restructure their business models, developing robust network connectivity to regain customers' confidence. Development in technology such as connectivity provided by the 5G network enables smoother communications and faster data transfers which holds promising growth potential. Educational institutes are adopting tools to support and enhance the learning process and teaching, which is likely to fuel the demand for the learning management system market over the forecast period. For instance, in February 2020, the Government of China have planned to adopt learning through an online education platform. As the demand for online learning and e-learning platforms grows, it is further anticipated to propel LMS demand, which helps drive market growth.

Similarly, 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.

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Press Release: https://www.theinsightpartners.com/pr/learning-management-system-lms-market

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The Insight Partners
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