LONDON, Dec. 21, 2015 /PRNewswire/ -- Over the past few years, the market for LMS has progressed by implementing the latest technologies owing to an increasing demand from academic and corporate institutions. This market includes the recent implementation of innovative learning systems to create an innovative learning environment. The LMS market in this report is defined as the summation of products such as content management, performance management, communication and collaboration, administration, and learner management.
The LMS market classifies the modern configurations and technologies that are vital for any institute across the globe. This market is in the growth stage in Asia-Pacific, Middle East and Africa, and Latin America, as K-12 schools and higher education institutions across all regions are not very receptive towards the latest technological changes.
Moreover, there is huge return on investment in LMS; as workers become more competent, they can get higher position, salaries. Using any means such as online learning, mobile devices, and face to face training gives instantaneous experience to both the trainer and the learner; learning can be made flexible and more stimulating as these courses are available in diverse formats such as in the form of video or text files, all stored on the LMS system.
The major restraints in the LMS market are lack of integration and limited customization feasibility options for end users. Many institutions lack the appropriate adoption of these learning systems due to the inadequate funds and lack of skilled subject matter personnel related to them. It is projected that the LMS adoption would decline in a few years, especially in the developed economies of the U.S., Canada, and the U.K. MarketsandMarkets expects the global LMS market to grow from USD 4.07 billion in 2015 to USD 11.34 billion by 2020, at a CAGR of 22.8% during the forecast period.
There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise. For instance, exchange rates are expected to have a moderate rating of impact on this market.
Therefore, the dollar fluctuations are not expected to seriously affect the forecast in the emerging Asia-Pacific (APAC) region.
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the market into products, and applications market, covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the subsegments. The market numbers are further split across different users and regions.
2. The LMS report will help them better understand the competitors and gain more insights to better position ones business. There is a separate section on competitive landscape, including end user analysis, mergers and acquisition and venture capital funding. Besides this, there are company profiles of the ten major players in this market. In this section, market internals are provided that can help place one's company ahead of the competitors.
3. The report helps them understand the pulse of the LMS market. The report provides information on the key market drivers, restraints, challenges, and opportunities.
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