during the forecast period during the forecast period. The major growth drivers for the market are increasing the adoption of digital learning, growing inclination towards, Bring Your Own Device (BYOD) policy and enterprise mobility, extensive government initiatives for the growth of LMS, growing usage of Artificial Intelligence (AI) and Machine Learning (ML) in LMS is increasing the significance of eLearning in corporate and academic setups.
New York, July 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "LMS Market by Component, Delivery Mode, Deployment Type, User Type And Region - Global Forecast to 2025" - https://www.reportlinker.com/p04031788/?utm_source=GNW
However, low motivation and engagement by organizations may restrain the market growth.
Cloud deployment type segment is estimated to constitute the largest market size during the forecast period
In the cloud-deployed LMS, services are hosted over the internet connection, and users can log into the service provider’s site.Teachers or trainers can upload course content, create new courses, and interact with learners via their internet browsers to refrain from the installation of the required management software.
Instructional designers can store any information on the cloud, and this can be remotely accessed by approved users in any location.This deployment mode is preferred for its features like better and enhanced security; lower setup costs; easy accessibility; quicker deployment; highly scalable; customizable; more storage space; ease of maintenance; automatic upgrade of course materials; and automatic licensing done by vendors.
In this form, the learning is delivered to the learner, anywhere and anytime via the browser.The adoption of cloud deployment type for LMS in the training and development structure is growing rapidly.
Most of the vendors are switching from on-premises deployment mode to cloud-based solution. Cloud-based LMS providers are actively delivering continual innovation with security in priority. Some of the LMS cloud providers include SumTotal Systems, Docebo, SAP, Epignosis, ScholarLMS, and Expertus. The global market for the cloud-based LMS solutions is expected to rise at a substantially high rate in the next 5 years.
Corporate user type segment is expected to grow at the highest CAGR during the forecast period
As businesses have become more competitive after the second wave of globalization, the importance of human resources has increased significantly over timeand employee training and development has become a new norm.In various corporate organizations, industrial methods used for training and development are different.
For instance, the success of a software and technology company largely depends upon the skill/ability of the employees in the organization.Skill and knowledge required in the software and technology companies change at a faster pace compared to other industries.
Research and development also play a key role in software and technology companies.To keep improving the skills of the employees, LMS in the software and technology companies is of key importance.
Medical practitioners need to update their knowledge and skills to provide the latest treatment to the customers/patients. Keeping employees updated with new medical devices and pharmaceutical products is another key aspect of the training and development module in the healthcare sector. Advanced eLearning technologies like 3D images of internal organs and live interaction with experts have increased the effectiveness of the eLearning in the medical sector. The key skills training required in the retail industry is sales development, product training, leadership skills, product promotion, assertiveness, customer experience and care, retail recruitment, and communication. LMS in the retail industry usually focuses on areas, such as on boarding, compliance, sales skills, and product knowledge
APAC is estimated to grow at the highest CAGR during the forecast period
APAC is one of the major regions for software providers, as it covers a large terrestrial area and the education industry across the region is expected to flourish.It continues to experience rapid growth in all areas of technology.
The LMS adoption has openly been implemented in this region and rapid growth in population and increasing economic development makes this region the fastest-growing market, internationally.Some countries in this region are among the most technologically developed, while others are weak in terms of adopting the latest technology.
The APAC region demonstrates a combination of high growth, emerging economies, and the mass adoption of mobile and internet technology.Many learning solution vendors are expanding their reach and exploring opportunities in the APAC region by offering personalized learning environment and catering to the fluctuating demands of the market.
Vendors are offering a wide range of flexible solutions for social learning, mobile learning, and adaptive learning to provide a continuous learning environment. APAC countries are considerably contributing to the growth of the LMS market. The rapid adoption of LMS by early adopters in this region has made APAC an attractive market, but the growth is fragmented and many regional players have specialized offerings making the LMS ecosystem competitive It continues to experience rapid growth in all areas of technology. China and India are gradually becoming receptive to the integration of advanced technologies in sectors such as BFSI, education, retail, and government. APAC is considered to be one of the major regions for software providers, as it covers a large terrestrial area and also because the education industry across the region is expected to flourish. It continues to experience rapid growth in all areas of technology. Some prominent vendors in the APAC LMS market are Pearson PLC, Blackboard INC., D2L Corporation, Cornerstone OnDemand, SumTotal Systems, and Educomp.
The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%
• By Designation: C-Level Executives – 45%, Directors – 30%, and Managers – 25%
• By Region: North America – 40%, Europe – 30%, APAC – 20%, and RoW–10%
The report profiles the following key vendors in the global LMS market that include Cornerstone OnDemand(US),Blackboard (US), D2L Corporation (Canada), Adobe Systems US),CrossKnowledge (US), Oracle (US), SAP SE(Germany),Docebo(Canada), PowerSchool (US),IBM(US),Epignosis(US), Pearson PLC (UK),McGraw Hill(US),SumTotal Systems LLC(US),Absorb Software LLC (Canada), iSpringSolutions, Inc. (US), G-Cube (India), Latitude CG, LLC (US), UpsideLMS (India), Paradiso (US).
The report segments the global LMS market by component, delivery mode, deployment mode, user type, and regions. It has a detailed analysis of the key industry players to provide insights into their business overviews, services, key strategies, new service launches, partnerships, agreements and collaborations, expansion, and the competitive landscape associated with the global LMS market.
Reasons to buy the report
The report would help the market leaders/new entrants in the following ways:
• It comprehensively segments the LMS market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across the major regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystem, new service developments, partnerships, and acquisitions.
Read the full report: https://www.reportlinker.com/p04031788/?utm_source=GNW
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