A Deep Drive Into Learning Management Systems (LMS) Market to Generate $81.22 Billion by 2030

WILMINGTON, DE, UNITED STATES, August 22, 2024 /EINPresswire.com/ -- learning management systems market size was valued at $12.79 billion in 2020, and is projected to reach $81.22 billion by 2030, growing at a CAGR of 20.5% from 2021 to 2030.

With cost-effective and reduced marketing expenses, learning management systems are becoming increasingly convenient platform for schools and educational institutes to deliver coaching and classes to students in effective way. This factor is a major growth driver of learning management systems market.

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Access to high-speed internet and increase in use of learning management systems among educational universities drive the global learning management systems market size. Furthermore, rise in penetration of smartphones and laptops across the globe and development of the digital education industry globally are the major factors that drive the growth of the market. However, poor internet connectivity in remote areas hampers the growth of the market. Moreover, the adoption of learning management systems from students to pursue the educational degrees is one of the major growth factors of the LMS market.

Furthermore, the global learning management systems market is in its developing phase, and exhibits high growth potential, due to rise in need for educational platforms among students, especially during the COVID-19 pandemic. For instance, Blackboard, Inc., an American educational technology company announced that it will introduce Blackboard Reach, a new solution for K-12 institutions, in October 2020. The goal of the solution is to make it easier for parents to engage with instructors and have meaningful, in-person conversations. In addition, as several institutions were closed to maintain social distancing, schools and universities shifted their focus towards online coaching and adopted systems, which promote potential of the learning management systems market.

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Region wise, North America dominated the market in 2020, and is expected to maintain this trend during the forecast period. High demand for LMS solutions and growth in the education sector, which include web-based and distance learning modules, are expected to drive the growth of the LMS industry in this region.

The key players operating in the learning management systems market analysis include Blackboard Inc., Callidus Software Inc., Epignosis LLC, John Wiley & Sons, Inc., Oracle Corporation, Jzero Solutions Ltd., Paradiso Solutions, SABA Software, Inc., SAP SE, and Sumtotal Systems, LLC. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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