Learning Management System (LMS) Market Size

Learning Management System Market Analysis

The global learning management system market is expected to register a CAGR of 20.6% during the forecast period. A learning management system provides holistic education to students using technology to prepare them for a fast-changing world where adaptability is important. It can be done in a virtual or physical environment. By using advanced learning methods, like online virtual classrooms, cloud servers, smartphones, etc., a teacher can help students gain more from their learning. Modern-age learning methods permit a learner to interact with other learners around the world. Learners can interact with others on virtual learning platforms, participate in online discussions to solve their queries, and take up massive online open courses from global universities while sitting right on their couch, among others.

• Over the study period, e-learning has evolved into an enterprise revenue generator. New developments in learning technology help organizations support evolving learner needs. Supported by such developments, it has revolutionized e-learning by allowing increased and improved data collection activities that enable on-the-move learning methodology. After implementing an e-learning program in its organization, IBM found that participants learned nearly five times more material without increasing training time.
• Enterprises and educational institutions are expected to be able to monitor their employees' or students' learning processes. However, the traditional method of tracking learner progress, taking surveys manually or using a survey tool, is inefficient and inaccurate. Manual surveys have several drawbacks, including time consumption, low response rates, a lack of references or benchmarks, and the possibility of incorrect responses. Organizations cannot accurately track their programs' effectiveness due to time constraints and a lack of efficient measuring tools.
• The increasing accessibility of smartphones and other devices might drive the adoption of online education for learning and progress evaluation. Both developed and developing countries are witnessing high penetration of smartphones, with many educational institutions adopting BYOD (Bring Your Own Device) worldwide. These smart learning devices support institutions in effective teaching and learning processes. Also, institutions facilitate the teachers and learners to use smart devices, like tablets.
• The emergence of 5G technology has significantly changed the world of cloud computing. 5G connection provides low-latency connectivity, allowing for smoother conversations and quicker data transfers. 5G speeds increase access to video analytics and artificial intelligence, making the city a safer place. This enables city administrators, property owners, and facility managers to make educated decisions and deliver smart public services. The evolution of 5G continues to fulfill its complete transformational potential. It also offers significant growth opportunities for the learning management system market.
• Schools around the world were temporarily closed to protect students, teachers, and staff from potential contamination during the COVID-19 pandemic. According to a UNESCO study, the pandemic affected nearly 1.2 billion students in 143 countries. The rise of online learning during the COVID-19 pandemic allowed students to continue their education. Schools, colleges, and universities moved away from the four walls of the classroom, taking advantage of the digital space. After the pandemic, the market is growing rapidly due to the availability of customized learning platforms.