According to a new research report published by Premium Market Insights, “ The learning management system (LMS) market will grow from $5.05 billion in 2016 to $18.44 billion by 2025, at a CAGR of 15.52% between 2017 and 2025. expected to grow.
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LMSs are rapidly gaining popularity with increasing adoption in the education and IT industries. Apart from this, LMS has found its place in various other fields including healthcare, manufacturing, event management, real estate, NGOs, public authorities, digital marketing agencies, software development and more. For example, manufacturing and healthcare sectors are adopting LMSs to reduce regulatory burdens, and consulting firms are using LMSs for onboarding, training and certification purposes.
The global Learning Management System (LMS) market is expected to experience moderate growth soon with several significant drivers contributing to this growth. These include the implementation of LMS in higher education, the growing need for practice in various organizations, and the growing trend of cloud computing. However, some restraining factors that may hamper the learning management system (LMS) market growth during the forecast period include data security and privacy concerns and lack of adequate cloud infrastructure in some countries.
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Currently, the LMS (Learning Management System) market is dominated by developed countries such as North America and Western Europe. However, in the coming years, the market is projected to shift towards Asia Pacific, South America and Africa which are expected to witness significant growth. This presents potential growth opportunities for all players involved in the value chain of the learning management system market. This growth can be attributed to positive social trends, growing demand, and rapid acceleration of innovation.
Both primary and secondary sources were used to determine market size. The research process involved conducting comprehensive secondary research using internal and external sources to gather qualitative and quantitative information relevant to the market. We also conducted primary interviews with industry participants and commentators to confirm data and analysis. Participants in this process typically include industry experts such as VPs, business development managers, market intelligence managers, country sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the LMS industry.
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