North America is expected to have the biggest Learning Management System Market Share.
BANGALORE, INDIA, September 9, 2021 /EINPresswire.com/ — The growing acceptance of digital learning, growing tendency towards BYOD regulation, and business versatility thus increased the importance of LMS in both the corporate and academic world. With the growth in the adoption of digital technologies and BYOD increased choice, businesses are focusing on adopting LMS over mobile phones for streamlined training of employees. This, in turn, is expected to drive the LMS market size.
The global learning management system market size was valued at $1.2 Billion in 2020 and is projected to hit $3.6 Billion by 2027, at a CAGR of 20.76% from 2020 to 2027.
Advanced eLearning innovations such as 3D images of internal organs and live engagement with experts have improved medical and clinical eLearning performance. In addition, LMS is used in retail for sales development skills training, product promotion, product training, leadership skills, assertiveness, recruitment & communication, and customer experience & care. This wide adoption is expected to increase the market size.
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North America is expected to hold the largest LMS market share during the forecast period. Organizations in the North American region are now turning to mLearning for better results and convenience. Both corporate users and academic institutes use LMS, and most vendors provide user-centric product creations. North America has shown the rapid adoption of new learning pedagogies, and this has further increased the region’s LMS market share.
As countries such as China, India, Japan, and Australia offer lucrative opportunities for market players, the Asia-Pacific LMS market is expected to register the highest CAGR during the forecast period. International vendors spend high capital in the industry to boost the overall portfolio of LMS products to ensure low-cost and customized training modules and products for employees.
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Learning Management System Market by Type ( On-premises, Cloud-Based ) by Application ( Schools, Corporations ), by Region, by Key Players, Forecast Report 2021-2027
Major Players in the Learning Management System Market: Absorb, Adobe, Axonify, Cornerstone OnDemand, D2L, Docebo, EFront, EPath Learning, Expertus, G-Cube, IMC, Instructure, Intellum, ISpring Learn LMS, LearnUpon, Litmos (SAP), NetDimensions (Learning Technologies Group), PeopleFluent, Saba, Skillsoft (SumTotal Systems), SkyPrep, TalentLMS, Totara Learning, Others
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