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Global learning management system market is projected to grow with approx. 18.61% CAGR during the year 2019-2027 and is expected to gain $XX million till the year 2027.
Learning management system (LMS) supplies end-to-end customization and support services to create web-based learning portals and training modules to enhance learning skills through remotely accessed online tools. LMS has emerged as a top trend across several industry verticals, including retail, hospitality, healthcare, and others, in recent years, as it offers optimized training and skills development solutions.
The primary user groups in the LMS market are the academic institutes and enterprises. Educational institutions use learning platforms for different reasons. These include enabling enrolment of students who are not in the vicinity of the campus, thus helping to increase admissions. This is one of the primary factors that is driving its requirement in developing nations.
One of the important drivers is the growth of the e-learning market. Increase in demand for web-based and mobile-based learning platforms among corporate firms are expected to drive the market growth. Although, the lower scope of IT infrastructure in the underdeveloped nations and cost of implementation are hindering the global learning management system market.
The global learning management system market has been segmented on the basis of four major regions, namely, North America, Asia Pacific, Europe and the Rest of World regional segment that are considered for the market analysis.
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North America is the largest market for learning management system. Vendors in this regional market have come up with innovative LMS solutions to cater to various operational and e-learning demands among several user types such as academic and enterprises.
The companies operating in the market that are mentioned in the report are SAP SE, JZero Solutions Ltd., SumTotal Systems, LLC, Blackboard Inc., John Wiley & Sons, Inc. (CrossKnowledge Group Ltd.), CallidusCloud Inc. (Sap Sales Cloud), Saba Software, Inc., Oracle Corporation, Paradiso Solutions and Epignosis LLC (TalentLMS). These companies employ a variety of organic and inorganic strategies for their expansion.