ALBANY, New York, October 20, 2016 /PRNewswire/ --
Transparency Market Research observes that the market for learning management systems is projected to amount to US$18.8 bn by 2024, rising from a valuation of US$3.4 bn in 2015 at an impressive CAGR of 19.9% therein. In 2015, the top five players in the global learning management systems market, namely SkillSoft Limited, SAP SE, Oracle, Cornerstone OnDemand, and Saba Software, accounted for less than 40.0%, indicating at a rather fragmented nature of the competitive landscape.
In addition to offering a wide range of innovative e-learning solutions, Transparency Market Research has noted that companies in the LMS market have been focused on building a strong customer base by expanding its capabilities through acquisitions and partnerships. For instance, in June 2015, ACS Technologies acquired Solomon Learning Management System from Mersoft Corporation to extend its offerings in learning management systems.
Companies are increasingly adopting learning management systems to up their returns on the investments made on employee training and development and to receive measureable business outcomes.
Get Sample of Report for Technical Insights on Learning Management Systems: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3139
APAC LMS Market to Witness Remarkable Growth
On the basis of deployment, hosted deployment is anticipated to dominate the global learning management systems market, accounting for over 60.0% by 2024. The segment is also projected to register the highest growth rate throughout the forecast period. By module, content delivery and management accounted for the leading share in 2015 while user management is projected to exhibit a CAGR higher than any other LMS module. By user group, the education and corporate sectors account for nearly the same share in the global LMS market and are likely to witness high growth during the forecast period.
North America has proved to be a prominent market for learning management system vendors, accounting for more than 50% of the market in 2015. Exhibiting an astounding CAGR of over 26% from 2016 to 2024, Asia Pacific is perhaps the most attractive market for LMS.
Effective Learning Enabled by LMS a Major Growth Booster
There has been a growing focus on data-driven learning tools in recent years. The use of analytics in business as well as education aids in better decision making. In the corporate world, digital training programs are conducted to develop and evaluate the working staff. Technology innovations have compelled organizations to abandon traditional methods of learning and adopt more efficient and effective learning solutions that can engage talent and improve performance.
"As far as the education sector is concerned, those in higher education have begun to adopt analytical practices to help students learn more effectively and to develop reports that can track students' progress over a period of time," the author of the study reports.
Browse Regional PR: http://www.europlat.org/global-learning-management-systems-market.htm
The global market for learning management systems is also fueled by the growing use of smart devices and a reduction in learning and development costs.
Lack of Customization and Personalization a Deterrent
One of the biggest restraints on the global LMS market is the host of challenges faced by the e-learning market. These include poor internet connectivity in developing and underdeveloped countries, improper management of learning software, the lack of motivation among learners owing to non-availability of instructors, and difficulties in simulating hands-on courses.
Another factor hampering the adoption of learning management systems is the lack of personalization and customization presented. "Although learning management systems enable virtual access to online courses on a plethora of topics, this information is usually generic, which hampers the learners' interest in learning," the author finds.
This review is based on the findings of a TMR report titled "Learning Management Systems (LMS) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
Learning Management Systems Market
- Content Delivery and Management
- Progress Management
- Interaction and Integration Technologies
- User Management
By User Group
- Higher Education
> North America
- The U.S.
- Rest of North America
- Rest of Europe
> Asia Pacific
- Rest of Asia Pacific
> Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
> South America
- Rest of South America
Recent Reports by Transparency Market Research:
- Facilities Management Market: http://www.transparencymarketresearch.com/north-america-facilities-management-market.html
- OSS BSS System and Platform Market : http://www.transparencymarketresearch.com/ossbss-market.html
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
SOURCE Transparency Market Research