Information technology is making inroads in education industry for a long time, which is a great thing for the global industry. One of the strongest applications of computers is the learning management system, which is a software application for taking care of various educations tasks and programs. LMS applications take care of documentation, applications, reporting, tracking and delivery of various e-learning programs and online educational courses. Global learning management systems market is expected to make rapid growth within the next five to four years, which is expected to have vital influence on education and IT market as well.
Learning Management Systems Market Synopsis
High rate of adoption is driving global LMS market from strength to strength. Rising demand for holistic learning management programs and flexible educational systems are said to be driving the learning management systems market. Increasing technological advancements in the education as well as IT industry are also creating positive waves in this industry. Wide segmentation in the market is expected to make strong progress in near future.
Segmentation in learning management systems market is largely based on the types of products, end users, applications across various business verticals, their deployment models and demand patterns across different geographic regions. Prominent products in the industry include content management, performance management, student management, administration systems and collaboration systems. End users of these systems generally include corporate client and educational institutes.
On premise and software as a service or SaaS are two major deployment models of learning management systems, which are deployed across various geographic verticals including BFSI, retail, consumer goods, consulting services, academia, government, healthcare, IT and telecommunication, manufacturing and media. Based on geographic regions, the market is segmented into North America, Latin America, Asia Pacific and Middle East and Africa.
According to the latest market research reports, learning management systems market is expected to grow at an impressive CAGR of 25.2% from 2013 to 2018. At this rate, the market is expected to become worth more than $7.83 billion by the end of 2018. As of 2013, the industry was worth $2.55 billion. Increasing requirement for effective transformation from traditional classrooms to computer-aided lesson delivery models are creating rise in demand in the market.
Developing regions like North America and Europe are promoting the benefits of early adoption of these technologies in emerging markets. Educationists are also expected to play a vital role in creating awareness about the high-tech and innovative advantages of learning management systems in the educational as well as corporate surroundings.