The global corporate LMS market is expected to grow from USD 2.06 billion in 2018 to USD 7.12 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 28.2%

LONDON, May 9, 2018 /PRNewswire/ -- Continuous innovation in eLearning tools, increasing trend of BYOD and enterprise mobility, and growing emphasis on continuous learning are expected to drive the growth of the corporate Learning Management System (LMS) market.

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The global corporate LMS market is expected to grow from USD 2.06 billion in 2018 to USD 7.12 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 28.2% during the forecast period.

Continuous innovation in eLearning tools, increasing trend of BYOD and enterprise mobility, and growing emphasis on continuous learning are expected to drive the global corporate LMS market. However, low motivation and engagement by organizations may hinder the market growth.

The services segment is expected to grow at a higher CAGR during the forecast period.
Among components, the services segment is expected to grow at a higher rate during the forecast period.These services are designed to provide a wide range of service offerings that help meet the specific needs of customers.

The services considered for this report include consulting services, implementation services, and support services. These services provide assistance in effectively understanding the right corporate LMS needs of enterprises to deploy a suitable solution.

The blended learning delivery mode is expected to grow at the highest rate during the forecast period.
Among delivery mode, the blended learning delivery mode is expected to grow at the highest CAGR during the forecast period.As blended learning is a hybrid learning model that offers an effective collaboration of traditional classroom learning and web-based online learning to engage trainers and learners across the globe, it is expected to grow at the highest rate.

Blended learning helps save time, is economical, engages learners effectively, and is a flexible and creative way to guide learners.

Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.
Several factors are expected to drive the market's impressive growth in the APAC region.Companies in the region have started adopting LMS solutions, due to regional presence of major IT companies.

APAC organizations are trying to gain better ROI on talent development, assess their employee learning requirements, impart proper employee training, and receive quantifiable business outcomes.Thus, the APAC region is expected to grow at the highest CAGR during the forecast period.

On the other hand, North America is estimated to hold the largest market size in the global corporate LMS market in 2018.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the corporate LMS market.

The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 22%, Tier 2 – 44%, and Tier 3 – 34%
• By Designation: C-Level – 45%, Director Level – 51%, and Others – 4%
• By Region: North America – 40%, Europe – 25%, APAC – 20%, and Rest of the World (RoW) – 15%

The key corporate LMS vendors profiled in the report include Absorb Software (Canada), Adobe Systems (US), Blackboard (US), Cornerstone OnDemand (US), CrossKnowledge (US), CYPHER LEARNING (US), D2L (Canada), Docebo (Canada), Epignosis (US), Expertus (US), G-Cube (India), Geenio (Cyprus), Growth Engineering (UK), IBM (Kenexa; US), Instructure (Bridge; US), iSpring (US), Latitude CG (US), LearnUpon (Ireland), Mindflash (US), Oracle (US), Saba Software (US), SAP (Germany), Schoology (US), SumTotal Systems (US), Tata Interactive Systems (India), and Upside Learning (UpsideLMS; India).

Research Coverage
The corporate LMS market has been segmented on the basis of component (solution and service), delivery mode, deployment type, organization size, vertical, and region. A detailed analysis of the key industry players has been done to provide insights into their business overview; products and services; key strategies; new product launches; partnerships, agreements, and collaborations; business expansions; and the competitive landscape associated with the global corporate LMS market.

Reasons to Buy the Report

The report will help market leaders/new entrants in the following ways:
• The report segments the corporate LMS market comprehensively and provides the closest approximations to the revenue numbers for the overall market segments and subsegments across different regions.
• The report is expected to help stakeholders understand the pulse of the market and provides them information on the key market drivers, restraints, challenges, and opportunities.
• The report is expected to help stakeholders understand their competitors better and gain more insights to advance their position in the market. The competitive landscape section includes the competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.

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