CHICAGO, Dec. 7, 2021 /PRNewswire/ -- According to a research report "Learning Management System (LMS) Market by Component (Solutions and Services), Delivery Mode (Distance Learning, Instructor-led Training, and Blended Learning), Deployment, User Type (Academic and Corporate), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the LMS Market size to grow from USD 15.8 billion in 2021 to USD 37.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period.
The LMS Market is fuelled by enterprises focusing more on human capital development. Effective employee learning and development brings a positive impact on employee performance and organizational competitiveness. Training also helps employees develop a positive attitude toward learning and improving proficiency, which results in enhanced productivity and competitiveness in the workplace and the organization.
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By User Type, the Academic segment to hold the larger market size during the forecast period
The Academic segment of the LMS Market is projected to hold the largest market size in 2021. The Academic is further divided into K-12 and Higher education. LMS is used in academics to improve the efficiency of the learning process. This helps streamline the education process by enabling mobility, interaction, and real-time teaching. LMS solutions in the academic sector open up new doors for sharing knowledge without boundaries of time and distance.
By Corporate users, the Retail subsegment to grow at the highest CAGR during the forecast period
Among the Corporate users, the Corporate sub-segment is expected to grow at the highest CAGR during the forecast period. Employees in retail must coordinate with multiple parties to ensure the right product delivery at the right time and the right place. Training and development play a key role in the skill development of employees. LMS in the retail industry focuses on areas, such as onboarding, compliance, sales skills, and product knowledge.
By region, North America to account for the largest market size during the forecast period
North America holds a strong position in the global LMS Market, due to the presence of most of the top LMS vendors such as Blackboard, Cornerstone OnDemand, D2L, Instructure, and PowerSchool. The region is well-connected with advanced infrastructure, which helps LMS vendors offer quality services to their clients. It offers the most innovative and fastest services available in the world through its network infrastructure. North America has also witnessed the earliest adoption of cloud and mobile technologies, which has been a significant booster for adopting LMS solutions to improve employee efficiency and productivity.
Major vendors in the LMS Market include Cornerstone OnDemand (US), Blackboard (US), PowerSchool (US), Instructure (US), D2L (Canada), SAP (Germany), SumTotal (US), IBM (US), LTG (UK), Oracle (US), Infor (US), Adobe (US), and Docebo (US).
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