November 07, 2022
Learning Management System Market Size to Grow by USD 44978.02 Mn Finds Technavio Survey
A According to a recent Technavio survey, the Global Learning Management System Market Share will increase by USD 44978.02 million between 2022 and 2027. Technavio classifies the global learning management system market under the parent education services market, which includes goods, services, and solutions provided to academic institutions, learners, parents, people in general, businesses, and teachers. The market will also expand at a CAGR of 20.85%, according to Technavio's most recent market forecast report.
The market will expand at a 19.21% Y-O-Y rate during the forecast period. A Technavio source claims that they studied the life cycle of the global learning management system market, from the innovator stage to the laggard stage.
The report focuses on the adoption rates of the major nations including the US, Canada, China, the UK, and Germany to illustrate the lifecycle of the global learning management system market to assist businesses in assessing and creating growth plans for 2022–2027. Key purchase criteria, adoption rates, adoption life cycles, and price sensitivity drivers have all been taken into consideration by our researchers.
…the market for learning management systems is expanding as a result of the adoption of NGDLE in the academic community… NGDLE assists businesses in creating learning initiatives that are efficient and effective… In both higher education and K–12, learning management system adoption is rising…
To help vendors generate sales revenues, Technavio's market research report includes comprehensive information on regional opportunities. According to geography, the market for learning management systems is divided into North America, Europe, APAC, South America, and the Middle East and Africa.
The report offers useful market insights and an accurate prediction of how each region will affect the size of the global learning management system market. Compared to other regions, North America is the one with the fastest-growing market for learning management systems globally.
North America will account for 34% of the growth. Due to the increasing demand for learning management systems from corporate organisations, the growth of the learning management system market in North America is anticipated to be consistent during the forecast period. Additionally, the regional market is expanding due to the growing demand for efficient and high-quality education.
The market for learning management systems is expanding as a result of the adoption of NGDLE in the academic community. NGDLE assists businesses in creating learning initiatives that are efficient and effective. In both higher education and K–12, learning management system adoption is rising.
A market trend is a rise in the popularity of cloud-based learning management systems. The development of advanced technologies has increased the emphasis on the use of cloud-based learning management systems, which eliminates the requirement for setting up servers on the premises of organisations. Additionally, compared to traditional learning management systems, cloud-based learning management systems have lower implementation costs.
Even though growth is a good thing, there are some warning signs. The growth of the market could be hampered by the increase in open-source learning management systems. Open-source learning management system usage has grown in the academic community, particularly in higher education. An open-source learning management system has several benefits, including lower licensing costs.
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