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The global learning management system (LMS) market is projected to reach USD 38.10 Billion by 2027. The complete shutdown of several educational institutions because of the outbreak of the COVID-19 pandemic is set to augment the market growth. Besides, in the corporate sector, the rising need of online training programs for employees is set to surge the demand for LMS software solutions. Fortune Business Insights™ mentioned this information in a new study, titled, “Learning Management System (LMS) Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions, Services), By Deployment (On-Premise, Cloud), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By End User (Academic, Corporate), and Regional Forecast, 2020-2027.” The study further states that the market stood at USD 8.76 Billion in 2019. But, it is set to exhibit a CAGR of 19.7% during the forecast period between 2020 to 2027.
Blackboard Inc. Sells its Open LMS business to Learning Technologies Group
In April 2020, Blackboard Inc., an educational technology company headquartered in the U.S. sold its Blackboard Open LMS business to a digital learning and talent management firm called Learning Technologies Group PLC. This would help Blackboard to enhance its business and gain impetus in aiding clients move to its next-generation learning management system named Learn and Ultra. It would further help the company to strengthen and solidify its focus on growth and innovation.
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Rising Investments by Venture Capitalists in EdTech Startups to Aid Growth
One of the most trending businesses across the globe is the development of education-technology. It is further accelerating multiple venture capital firms, especially in the developed countries to invest hefty amounts of money in EdTech startups. Out of all the countries worldwide, the U.S. is considered to invest the highest amount in such technology business. This factor is expected to drive the LMS market growth in the near future.
However, a learner’s expectations have expanded with the introduction to a student-centered education system. It has been further accelerated with the help of innovative technologies, thereby surging the demand for personalized learning experiences. It is quite challenging to create custom LMS software solutions as per the students’ requirements. This factor may hinder growth.
Domestic Players Aim to Enter Market with the Support of Venture Capital Firms
The market consists of numerous renowned companies who are trying to intensify competition by developing new learning management system software solutions to meet the custom and industry-specific requirements. Some of the domestic players are gradually entering the market by gaining the support of venture capital firms.
Fortune Business Insights™ lists out the names of all the learning management system providers operating in the global market. They are as follows:
A Significant Industry Development-
Further Report Findings-
The global market can be segmented in the following way:
Value (USD Billion)
By Enterprise Size
By End User