Learning Management System (LMS) Market is expected to grow US$ 5.05 billion by 2025 from US$ 18.84 billion in 2016.
LMS is gaining traction with its increased adoption in academics & education industry and IT industry. Furthermore, LMS has established applications in numerous sectors including, healthcare, manufacturing, event management, real estate, NGOs, public agencies, digital marketing agencies, software development, and others.
For example, manufacturing and healthcare sectors are adopting LMS to reduce regulatory burdens, whereas consulting companies are utilizing LMS for onboarding, training, as well as certification.
The global market for LMS market exhibit mediocre growth in near future. Some of the major driving factors contributing to the market growth are the need and implementation of LMS in higher education, rising need for effective training in various organizations, as well as rising trend of cloud computing.
However, data security and privacy issues, and lack of proper cloud infrastructure in some countries are some of restraining factors behind slow growth of LMS market during the forecast period.
Geographically the market is presently dominated by developed regions like North America and Western European Countries, however, the market is expected to be in favor of Asia Pacific, South America and Africa, as the region is anticipated to witness over the coming years.
The learning management system market possesses a potential growth opportunity for all the players involved in the value chain. This is attributed to the positive societal trends, increasing demand and rapid acceleration of the innovation.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the LMS industry.
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