On-demand Learning Management System Market to Generate Revenue of US$ 25.8 Billion by 2025
The On-demand Learning Management System market was valued at US$ 3729.1 million in 2016 and is projected to reach US$ 25.8 billion by 2025, according to a new market research report On-demand Learning Management System Market, by Deployment Model (Public and Private Cloud), by Delivery Mode (Distance learning, Instructor-led Training), by User Type (Academic and Corporate), by End User (Banking, Financial Services, and Insurance, Healthcare, Retail, Government, Manufacturing, IT and Telecom, Consulting, and Others), and by Geography -Global Forecast to 2025, by Coherent Market Insights.
Learning management system is a software application for reporting, tracking, documenting, administrating, and delivering in e-learning training and education courses or programs. The On-demand Learning Management System is an integration of software-as-a-service platform and retains key features of conventional learning management system, including the GUI. Increasing adoption of learning management system by corporate bodies for training purposes is boosting growth of the market.
The integration of training management system in various processes of companies helps to manage instructor-led training and learning records store system to store and track the data. Additionally, the integration of performance management systems in learning management system provides the options for skills gap analysis, succession planning, multi-rater assessments, and competency management. This in turn, has increased the demand for On-demand Learning Management System in the corporate sector.
Key Takeaways of the On-demand Learning Management System Market:The global On-demand Learning Management System market was valued at US$ 3729.1 million in 2016 and is projected to reach US$ 25.8 billion by 2025, exhibiting a CAGR of 24.98% over the forecast period
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Among user types, the corporate segment held a dominant position in 2016 and is projected to retain its dominance throughout the forecast period. Increasing demand for job-specific learning management solutions has increased the demand for this segment. According to Association for Talent Development, U.S., over 40 percent of the LMS solutions are job-specific, either technical or soft skills training.
Among end users, the IT and telecommunication segment held a dominant position in 2016 and is projected to retain its dominance throughout the forecast period. Rapid development of advanced iterations of computer languages such as R and SQL has in turn increased demand for training sessions, subsequently boosting growth of this segment. To retain a strong foothold in the market, companies are increasingly providing training sessions to employees. This in turn, is increasing the demand for learning management system in this segment.
Among geography, Asia Pacific is projected to witness highest CAGR over the forecast period. Rampant advancements in IT technology is a major key factor fueling growth of the digital education, which in turn is accelerating growth of the LMS market. According to Coherent Market Insights, as of January 2017, around 731 million internet users were recorded in china. Similarly, 462, 132.7, 117.8 million internet users were present in India, Indonesia, and Japan.
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Some of the major companies in the global On-demand Learning Management System market are Adobe Systems, TalentLMS, DoceboLMS, Litmos, Trivantis, WizIQ, Mindflash, SchoolKeep, Latitude Learning LMS, and SAP
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