The North American learning management systems (LMS) market generated the highest revenues in 2016, valued at $2,245 million.
PORTLAND, PORTLAND, OR, USA, January 13, 2022 /EINPresswire.com/ — According to the Allied Market Research report, the global market Learning Management Systems (LMS) Market raised $5.15 billion in 2017 and is projected to reach $15.39 billion by 2023, growing at a CAGR of 20.0% from 2017 to 2023. The research offers in-depth analysis of changing market trends. market, major segments, key winning strategies and competitive landscape.
The rise of digitized education, increasing demand for personalized learning, and emphasis on cloud deployment model are driving the growth of the market. However, the lack of IT infrastructure in underdeveloped countries limits the growth of the market. On the other hand, the increase in the use of Internet of Things (IoT) presents new opportunities in the industry.
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Key market players analyzed in the research include Blackboard Inc., JZero Solutions Ltd., CrossKnowledge, Oracle Corporation, Litmos Limited, Saba Software, Inc., Paradiso Solutions, SumTotal Systems, LLC, SAP SE, and TalentLMS. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures and others to boost their status in the industry.
Based on user type, the enterprise segment held nearly two-thirds of the total share in 2017 and is expected to maintain its leading position by 2023. On the other hand, the university segment is expected to register the highest rate high with a CAGR of 22.0% from 2017 to 2023.
Based on deployment mode, the cloud segment held the largest revenue share in 2017, contributing nearly three-fifths of the total share. This segment is expected to maintain its dominant share during the forecast period. On the other hand, the on-premises segment would register the fastest CAGR of 22.1% from 2017 to 2023.
On a vertical industry basis, the government and education segment held the majority of revenue in 2017, accounting for more than a quarter of the total market share. This region is expected to maintain its leading position throughout the forecast period. Moreover, this segment would register the highest CAGR of 20.8% from 2017 to 2023. The research also analyzes retail, healthcare, hospitality, manufacturing, IT & telecommunications, and others.
By region, North America held the major market share in 2017, accounting for nearly half of the total market share. This region is expected to maintain its dominance throughout the forecast period. On the contrary, the Asia-Pacific region would register the highest CAGR of 23.2% from 2017 to 2023.
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