LMS Market Growing at CAGR 19.1% | Key Player Cornerstone OnDemand, Blackboard, PowerSchool, Instructure, D2L

LMS Market Growing at CAGR 19.1% |  Key Player Cornerstone OnDemand, Blackboard, PowerSchool, Instructure, D2L

Cornerstone OnDemand (US), Blackboard (US), PowerSchool (US), Instructure (US), D2L (Canada), SAP (Germany), SumTotal (US), IBM (US), LTG (UK), Oracle (US) ), Infor (US), Adobe (US), and Docebo (US). ”

Learning Management System (LMS) Market by Component (Solutions and Services), Delivery Mode (Distance Learning, Instructor-led Training, and Blended Learning), Deployment, User Type (Academic and Corporate), and Region-Global Forecast to 2026

MarketsandMarkets forecasts the global size of the LMS Market to grow from USD 15.8 billion in 2021 to USD 37.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period. Businesses that are more focused on human capital development are a key factor for the growth of the LMS market. Effective employee learning and development has a positive impact on employee performance and organizational competitiveness. Training also helps employees have a positive attitude towards learning and skill improvement, resulting in enhanced productivity and competitiveness in the workplace and in the organization. LMS helps businesses prepare effective training modules for employees to understand and comprehend information. Employees can access the modules at any time to update their knowledge. This helps employees be more productive and deliver value to the company.

According to User Type, the Academic segment held a larger market size during the forecast period

The Academic segment of the LMS Market is expected to hold a larger market size in 2021. The Academic segment is further divided into K-12 and Higher education. LMS is used in academia to improve the efficiency of the learning process. It helps streamline the education process by enabling mobility, interaction, and real-time instruction. The use of mobile phones and smart devices has increased significantly among the younger generation, thus boosting the LMS market for academic users to grow. LMS solutions in educational institutions enable next generation digital learning by providing an enhanced learning experience through digital classrooms. They open new doors for knowledge sharing without limits of time and distance.

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Through Corporate users, the Retail subsegment will grow at the highest CAGR during the forecast period

Among Corporate users, the Corporate sub-segment is expected to grow at the highest CAGR during the forecast period. Retail employees must liaise with multiple parties to ensure proper product delivery at the right time and right place. Moreover, retail companies are constantly adding new products to their product range. Thus, there is a rising demand for training and development in the retail industry, which represents a significant opportunity for LMS providers in the retail industry. Key training skills required in the retail industry include sales development, product training, leadership skills, product promotion, assertiveness, experience and customer care, retail recruitment, and communication. .

Key and emerging market players in the LMS market include Cornerstone OnDemand (US), Blackboard (US), D2L (Canada), PowerSchool (US), Instructure (US), IBM (US), Infor (US) , Adobe (US). ), LTG (UK), Oracle (US), SAP (Germany), Docebo (Canada), SumTotal (US), Tovuti (US), 360Learning (France), Epignosis (US), LearnUpon (Ireland), SkyPrep (Canada ), Absorb (Canada), CrossKnowledge (France), Lessonly (US), Axonify (Canada), BizLibrary (US), Thinkific (Canada), iSpring (US), Blue Sky eLearn (US), Trakstar Learn (Canada), DigitalChalk (US), KMI Learning (US), and Moodle (Australia). These players have adopted various strategies to grow in the LMS market.

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Cornerstone OnDemand is one of the leading global providers of learning and HCM software, delivered through software as a service (SaaS). The company offers products, such as a recruitment suit, performance suite, and learning suit. Cornerstone OnDemand provides solutions to industries such as government, healthcare, life sciences, manufacturing education, retail, and finance and insurance, K-12 and higher education. In October 2020, Cornerstone OnDemand partnered with ServiceNow to enhance workplace learning by offering platform interoperability. The integration of the Cornerstone Learning solution with the ServiceNow HR services Delivery solution has allowed employees to directly access ServiceNow activities and training.

Blackboard is a provider of education solutions for the K-12, higher education, and corporate markets. The company offers a wide range of learning and analytical platforms for enhanced collaborative, interactive, and mobile learning experiences. Their offerings in the LMS market include Blackboard Learn, Blackboard Reach, Blackboard Unite, and Blackboard Instructor. In November 2020, Blackboard launched a new feature called Blackboard Assist for its Blackboard Learn LMS. The feature will help students connect with the institution’s support services.

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