PUNE, India, July 28, 2016 /PRNewswire/ --
According to a new market research report, "Learning Management System Market by Application, Delivery Mode (Distance Learning and Instructor-Led Training), Deployment (On-Premises and Cloud), User Type (Academic and Corporate), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the LMS market size is expected to grow from USD 5.22 Billion in 2016 to USD 15.72 Billion by 2021, at a CAGR of 24.7%.
Browse 72 market data Tables and 70 Figures spread through 199 Pages and in-depth TOC on "Learning Management System Market"
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Increasing adoption of digital learning among corporate organizations and academic institutes and Bring Your Own Device (BYOD) trend are some of the major driving factors for the LMS market. Furthermore, the market is expected to be driven by opportunities, such as the growing usage of wearable eLearning devices and emerging technologies, such as gamification and virtual reality.
Learner management is expected to be the largest contributor in the global learning management system market during the forecast period
In the Learning Management System Market, the increasing need to keep a track of the learner's usage of training materials, manage course access of learners, create reports, manage course properties, and for various other tasks, the learner management application is expected to contribute the highest to the overall revenue generation of the market during the forecast period.
The telecom and IT industry vertical is expected to show significant growth rate in terms of adoption of learning management system
IT and telecom sector has greater need to train employees as this industry faces rapid technology changes than any other sector and companies have to sustain the competition. The IT and telecom sector is among the most complex industries and usually has global operational presence. This has necessitated the usage of LMS in all parts of this industry.
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Asia-Pacific (APAC) is expected to witness the significant growth rate during the forecast period owing to demand for cost effective and improved learning experience
APAC organizations are increasingly opting for LMS to gain better returns on investments made on talent development, employee learning requirements, proper employee training, and receiving quantifiable business outcomes. As many organizations have tight learning budgets, they prefer a technology-enabled learning approach, which is also a cost effective way to offer training and resources to their learners. This enables high growth opportunities in this region.
Blackboard, Inc. (Washington, U.S.), Cornerstone OnDemand, Inc. (California, U.S.), Xerox Corporation (Connecticut, U.S.), IBM Corporation (New York, U.S.), NetDimensions Ltd. (Hong Kong), SAP SE (Walldorf, Germany), Saba Software (California, U.S.), McGraw-Hill Companies (New York, U.S.), Pearson PLC (London, U.K.), and D2L Corporation (Ontario, Canada) are identified as leaders in the LMS market.
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