Learning Management System Market to Exhibit 18.7% CAGR till 2028; Cengage and McGraw-Hill Merge to Provide Affordable Learning Materials to Students

The global learning management system (LMS) market size is projected to grow from USD 13.38 billion in 2021 to USD 44.49 billion in 2028. The rising acceptance of online learning and training methods owing to the COVID-19 pandemic is set to affect this market positively. Many educational institutions and corporate offices have adopted these platforms to educate or train their students and employees, respectively. As per a published report by Fortune Business Insights™, titled, “Learning Management System Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions, and Services), By Deployment (On-Premise, and Cloud), By End User (Academic, and Corporate), and Regional Forecast, 2021-2028,” the market stood at USD 10.84 billion in 2020. It is set to exhibit a CAGR of 18.7% in the forecast period during 2021-2028.

SAP SE Announces Digital Learning Initiative amid COVID-19 Pandemic

In March 2020, SAP SE unveiled openSAP platform, a new digital learning initiative providing interactive educational content for professionals and students to help them continue their studies amid the COVID-19 pandemic. As per one of the company officials, “We are gradually broadening our commitment to support users and next-generation professionals by providing access to some of the best digital learning solutions. It would accelerate enablement and innovation.”

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/learning-management-system-market-101376

Surging Demand for Interactive Online Learning Methods to Drive Growth

Many educational organizations are inclining rapidly towards interactive online learning methods to provide better lessons to students. Khawarizmi International College (KIC), for instance, utilized Blackboard’s open-source LMS in January 2020 to enhance the connected learning experience between teachers and students. It is an intuitive, multiplatform, and customizable tool. Such initiatives by reputed players would propel the LMS market growth in the near future. However, a few studies have shown that traditional classrooms have proven to be much more impactful than digital learning methods. The former offers hands-on practical and training sessions. It may hamper demand.

Key Companies Focus on Providing Customized & Industry-specific Solutions

Most of the prominent companies present in this market are developing new products as per the latest technologies. This is helping them to constantly expand their existing product lines to meet the need for customized and industry-specific solutions. A few others are participating in the merger and acquisition strategy to offer cost-effective and efficient LMS.

Fortune Business Insights™ presents a list of vendors operating in the global LMS Industry:

• McGraw Hill (New York, United States)


• D2L Corporation (Kitchener, Canada)


• SAP SE (Walldorf, Germany)


• Saba Software (Dublin, California, United States)


• Absorb LMS Software Inc. (Calgary, Alberta, Canada)


• Blackboard Inc. (Washington, D.C., United States)


• Cornerstone OnDemand, Inc. (Santa Monica, California, United States)


• Oracle Corporation (Redwood City, California, United States)


• IBM Corporation (Armonk, New York, United States)


• Paradiso Solutions LLC (Silicon Valley, California, United States)

A Noteworthy Industry Development-

• May 2019: Cengage and McGraw-Hill signed a merger agreement. The newly formed company will help in impacting the lives of millions of students across the globe positively by expanding and accelerating affordability initiatives. It would also provide premium-quality technology platforms and learning platforms.

Further Report Findings-

• In 2020, North America stood at USD 4.88 billion in terms of revenue. It is anticipated to lead the market in the forthcoming years on account of the presence of various colleges and universities in the U.S. Hence, companies providing LMS services are trying to broaden their businesses in this country.


• Asia Pacific is expected to exhibit robust growth backed by the rising investment in LMS platforms, especially in Singapore, China, Malaysia, Japan, India, and Australia. China-based GSX Techedu and TAL Education Group, for instance, raised USD 3.2 billion in February 2020 for encouraging the development of e-Learning technology in the country.


• By end-users, the learning management system industry is divided into academic and corporate. The corporate segment is likely to experience rapid growth in the upcoming years. The increasing need to deliver flexibility to companies for conducting entrepreneurship programs, training sessions, and meetings would aid growth. The IT & telecom sub-segment procured 20.2% in 2020 in terms of the market share.

The global market can be segmented in this way: