by The Learning Management System Market is estimated to be valued at US$ 18.88 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
A learning management system (LMS) is a software application for the administration, documentation, tracking, reporting and delivery of educational courses or training programs. LMS helps educational institutions and corporations to manage and automate the administration of training events and educational courses. It helps teachers, trainers to distribute course materials, monitor student/employee participation and assess their performance.
Market key trends:
One of the key trends fueling the growth of learning management system market is the increased adoption of LMS for managing online courses. With blended and online learning becoming popular, educational institutions and corporations are increasingly integrating LMS into their learning programs to offer more flexible and scalable online training to students and employees. LMS provides a centralized platform to create, deliver and track online courses which can be accessed remotely. This has gained more prominence during the COVID-19 pandemic as most of the learning shifted online. The ability of LMS to manage the complete lifecycle of online courses from registration to evaluation is driving its adoption among end users.
Porter’s Analysis
Threat of new entrants: The learning management system market has moderate threat of new entrants as it requires large investments for R&D and partnerships with educational institutions. Bargaining power of buyers: Buyers have high bargaining power as there are many established players providing customised solutions at competitive prices. Bargaining power of suppliers: Suppliers have low bargaining power as learning management system providers have established global presence with internal manufacturing and supplier network. Threat of new substitutes: Threat of new substitutes is low as learning management systems provide unique value proposition of centralized learning delivery, assessment and analysis capabilities. Competitive rivalry: The market is highly competitive due to presence of global and regional players providing differentiated products.
SWOT Analysis
Strengths: Learning management systems offer scalable and flexible e-learning delivery solutions. They provide analytics for assessing learning effectiveness.
Weaknesses: High initial investment and technical complexities of advanced features. Dependency on internet connectivity for accessing contents.
Opportunities: Increasing adoption of blended learning. Growth in micro-learning and mobility. Rise of augmented and virtual reality based learning.
Threats: Competition from open source platforms. Data privacy and cybersecurity threats. Changing regulations for digital education.
Key Takeaways
Global Learning Management System Market Size is expected to witness high growth, exhibiting CAGR of 18% over the forecast period, due to increasing demand for digital and blended learning solutions. North America dominated the market in 2023, accounting for over 30% of global revenue owing to widespread adoption of LMS across all education levels.
The Asia Pacific region is expected to be the fastest growing market for learning management systems, growing at a CAGR of around 20% till 2030. Rapid digitalization of education and government support for e-learning infrastructure development are driving demand across China, India and Southeast Asian countries.
Key players operating in the learning management system market are Cornerstone Ondemand Inc., Xerox Corporation, IBM Corporation, Netdimensions Ltd., SAP SE, Blackboard, Inc., SABA Software, Inc., Mcgraw-Hill Companies, Pearson PLC, and D2L Corporation. The companies are focused on enhancing functionalities of their platforms for competency-based learning, personalized instruction, social learning and analytics.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
