The global learning management market is estimated to reach $15.72 billion by 2022 and is expected to grow at CAGR of 24.7% during 2016-2022. The learning management system market is majorly driven by the rising demand in various applications among its end user, e-learning, cloud adoption, and to bring your own device trend are some of the major. On the implementation of mobile application of these systems due to increase in smart phones is providing significant opportunities for the LMS market. However, lack of after sale technical support after the implementation and learning management system takes a long time to understand the working of the system is hindering the growth of the market.
The market of LMS is majorly segmented on the basis of application, delivery mode, deployment type, user type, and vertical. On the basis of application, it is segmented as performance management, content management, communication management, administration learner management, and others. On the basis of delivery mode, it is segmented by distance learning, instructor led training, and others. On the basis of deployment type, it is segmented as cloud and on-premises. On the basis of user type, the market is segmented as academic and corporate. Academic and corporate segments are further segmented as k-12 and higher education in academic sector; and small, medium and large enterprises in the corporate sector. Rising demand for cost efficient training solution is a significant factor and is subjected to propel the market by 71% by the year 2020. Lastly, it is again sub segmented on the basis of vertical as banking, insurance and finance, healthcare, government, retail, manufacturing, IT and telecom, consulting and others.
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, Latin America and Rest of the World (RoW). Among these regions, Asia Pacific is expected to have a significant growth over the forecast period due to the increase in usage of cost efficient digital learning. Asia Pacific is opting LMS to get better return on the investment made on the training on the employees and talent development. Although, due to the presence of large number of multinational companies in the North America region it is projected to rise in growth in the region during the forecast period; as these companies require cost efficient and proper training solution for their employees.
The learning management system market is dominated by some of the major key players such as Blackboard, Inc., Desire2Learn Incorporated, IBM Corporation, LLC, McGraw-Hill Companies, and SAP SE. These are some of the companies which are considered as a leader of LMS market. SAP SE, which is one of the largest software company has announced some of the significant new products features and have made investments in its corporate learning solutions.
After the collaboration of Jambok, which is social learning platform with plateau, one of the leading LMS Company in the year 2011; the company has revamped and consolidate its learning solution under Success Factor brand.