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Learning management system (LMS) market sales to generate $15.39 billion by 2023: AMR

Surge in digitized education, increase in demand for customized learning, and focus on cloud deployment model drive the growth in the global learning management system (LMS) market. Based on region, North America held the major market share in 2017, accounting for nearly half of the total market share. This region is expected to maintain its dominance throughout the forecast period.

/EIN News/ -- Portland, OR, Sept. 11, 2019 (GLOBE NEWSWIRE) -- According to the report by Allied Market Research, the global learning management system (LMS) market garnered $5.15 billion in 2017, and is expected to reach $15.39 billion by 2023, growing at a CAGR of 20.0% from 2017 to 2023. The research offers an extensive analysis of changing market trends, major segments, key winning strategies, and competitive landscape.

Surge in digitized education, increase in demand for customized learning and focus on cloud deployment model drive the market growth. However, lack of IT infrastructure in underdeveloped countries restrains the market growth. On the other hand, rise in usage of internet of things (IoT) present new opportunities in the industry.

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Based on deployment mode, the cloud segment held the largest revenue share in 2017, contributing nearly three-fifths of the total share. This segment is expected to continue its dominant share during the forecast period. On the other hand, the on-premise segment would register the fastest CAGR of 22.1% from 2017 to 2023.

Based on user type, the enterprises segment held nearly two-thirds of the total share in 2017, and is estimated to continue its leadership position by 2023. On the other hand, the academic segment is expected to register the highest rate with a CAGR of 22.0% from 2017 to 2023.

Based on industry vertical, the government & education segment held the major revenue share in 2017, accounting for more than one-fourth of the total market share. This region is expected to maintain its lead position throughout the forecast period. Moreover, this segment would register the highest CAGR of 20.8% from 2017 to 2023. The research also analyzes retail, healthcare, hospitality, manufacturing, IT & telecom, and others.

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Based on the region, North America held the major market share in 2017, accounting for nearly half of the total market share. This region is expected to maintain its dominance throughout the forecast period. Contrarily, the Asia-Pacific region would register the highest CAGR of 23.2% from 2017 to 2023. 

Leading market players analyzed in the research include Blackboard Inc., JZero Solutions Ltd., CrossKnowledge, Oracle Corporation, Litmos Limited, Saba Software, Inc., Paradiso Solutions, SumTotal Systems, LLC, SAP SE, and TalentLMS. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.

Prime determinants for the growing market:

1. Growth in digitalized education
2. Surge in demand for a customized learning
3. High focus on cloud deployment model

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.          

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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