Global Corporate Learning Management System (LMS) Market Report 2022: Growing Demand for Blended Learning and Adoption of Cloud-Based Corporate Learning Management System Solutions to Drive Sector
Global Corporate Learning Management System (LMS) Market
Dublin, March 17, 2023 (GLOBE NEWSWIRE) -- The "Global Corporate Learning Management System (LMS) Market by Offering (Solutions, Services), Deployment Mode, Organization Size, Vertical (Software and Technology, Healthcare, Retail, BFSI, Telecommunications), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global corporate LMS market size is expected to grow from an estimated value of USD 8.1 billion in 2022 to USD 21.1billion by 2027, at a Compound Annual Growth Rate (CAGR) of 21.1% from 2022 to 2027.
The need to integrate interactive and personalized training environments for employees to increase the productivity, growing demand for eLearning solutions and platform in lieu of the pandemic are some factors which are driving the corporate LMS market growth. However, the lack of enterprises to convert the existing training content into microcontent and shortage of skilled workforce to articulate business operations are expected to hinder the market growth.
By offering, solutions segment accounts for a larger market size during the forecasted period
The corporate LMS market has been segmented into standalone solution and integrated solution. Owing to the low entry cost in the LMS market, the number of solution providers has increased considerably in the past few years. LMS can work as a standalone solution and is used by several clients as a standalone learning management platform. However, in several other organizations, the learning suite works as an integrated system that comprises other training solutions, such as employee onboarding and compliance solutions. LMS providers compete to increase their market coverage and expand their presence in newer markets.
Companies such as D2L, Instructure, and Paycor, provide LMS solutions to clients to help them reap the benefits of LMS. These solutions help educational constituents cooperate using a single online learning platform. They further help manage content and facilitate the integration of all constituents in the learning life cycle. Companies such as Absorb Software, SAP, LearnUpon, Docebo, Cornerstone OnDemand, Blackboard, and Instructure are some of the key corporate LMS solution vendors.
By deployment mode, cloud segment to grow at the highest CAGR during the forecasted period
The adoption rate of cloud deployed LMS for training and development processes is growing rapidly among corporates. As organizations are focusing on planning cost-effective training programs, businesses are leveraging the economies of scale provided through the adoption of cloud technology. This deployment type is easy-to-implement and easily addresses integration and customization challenges.
Enterprises deploy hosted services to improve centralization, enhance flexibility, enable data collaboration, and reduce data loss during transit. Cloud corporate LMS providers are actively delivering continuous innovations with security as the priority. SumTotal Systems, Docebo, TalentLMS, and ExpertusONE are some vendors who provide cloud based corporate LMS. The global market for cloud based corporate LMS solutions is expected to grow at a substantially high rate in the coming years.
By organization size, large enterprises to grow at the highest market size during the forecasted period
With eLearning being adopted aggressively, large enterprises are increasingly implementing LMS solutions. The rising cloud adoption, too, has encouraged the growing use of and demand for cloud based LMS solutions among large enterprises. Corporate LMS not only helps in providing a shared training platform but also streamlines the process of assessment across all branches in a large enterprise. This offers a consolidated contact system for managing learners' information and learning progress reports. Furthermore, corporate LMS incorporates real-time guidelines and lessons that help employees work more efficiently. The corporate LMS market for large enterprises is experiencing significant growth, with organizations implementing BYOD policies at their offices. These developments are positively welcomed and highly acknowledged by large enterprises to enrich their learning strategies.
The report segments the corporate LMS market and forecasts its size, by offering (solution and services), deployment mode (on-premises and cloud), organization size (SMEs and large enterprises), vertical (software and technology, healthcare, retail, BFSI, manufacturing, government and defense, telecommunications, and other verticals), and region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).
Increased Demand for Advanced LMS Solutions to Effectively Manage Learning Content
Growing Need for Skill-Based and Objective-Driven Training to Boost Employee Performance
Need to Integrate Interactive and Personalized Training Environments
Lack of Performance Monitoring and Measuring Roi
Reluctance of Enterprises to Convert Existing Training Content into Microcontent
Growing Demand for Virtual Online Training due to COVID-19
Incorporation of Advanced Technologies for Better Training Environment
Lack of LMS Solutions with Multi-Language Support
Shortage of Skilled Workforce to Articulate Business Operations
Dearth of Momentum and Communication Among Employees
No. of Pages
2022 - 2027
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Corporate Learning Management System Market, by Offering
7 Corporate Learning Management System Market, by Deployment Mode
8 Corporate Learning Management System Market, by Organization Size
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises
9 Corporate Learning Management System Market, by Learning Mode
9.2 Distance Learning
9.3 Instructor-Led Training
9.4 Blended Learning
10 Corporate Learning Management System Market, by Vertical
10.2 Banking, Financial Services, and Insurance
10.4 Software and Technology
10.8 Government and Defense
10.9 Other Verticals
11 Corporate Learning Management System Market, by Region
12 Competitive Landscape
13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/v6f1ht
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