The LMS market (2020-2027) - Infographic
How much will the online education market grow over the next 7 years?
According to research by Fortune, by 2027 the worldwide Learning Management System (LMS) market will reach $38.10 billion (USD). This is a huge growth (if you think that in 2019 the value of the LMS market share stood at $8.76 billion), but not unexpected given the trend of the last ten years and the big push brought by the COVID-19 pandemic and the consequent revolution in the world of traditional education.
The coronavirus pandemic not only led to the closure of schools and universities, but also to the remote working of thousands of companies. Training has moved online.
The demand for eLearning courses, microlearning, MOOCs, virtual tutoring, videoconferencing tools, language apps, online learning software and, ultimately, the market has grown.
Investment companies have also placed their bets on the sector and EdTech start-ups. The trend is led by the USA.
In the field of online education, SaaS (Software as a Service) and cloud-based systems are the most popular and considered to be more robust, flexible and scalable.
Large enterprises are not new to the use of LMSs. Adoption of such training software is growing especially in Small and Medium Enterprises (SMEs) and start-ups.
End user: academic or corporate?
In the global LMS market, the academic segment accounts for more than half of the market share.
In the corporate segment, on the other hand, the Banking, Financial Service and Insurance (BFSI) and IT (Information Technology) and telecommunications sectors stand out.
The growing adoption of eLearning programmes in the retail sector is driven by the need for product training to the sales network.
In healthcare, online courses seem to be highly valued for continuing education and performance monitoring, as well as talent development.
Different regions in the world
The market size in North America in 2019 was $3.97 billion and the U.S. has witnessed increasing capital investments in EdTech companies especially in California, New York, Washington DC, Massachusetts, Texas. Not only that, but demand from the many universities present continues to grow, making North America the key region for market growth.
Over the past two decades, the Latin American government has looked with interest at the development of the education and training sector for the labour market. The increasing possibility of internet connectivity and the use of smartphones by the population has certainly strengthened and accelerated the process.
In Europe too, the adoption of LMSs is growing: there are numerous eLearning companies in the region and this is certainly a key factor in the development of the market throughout the region.
Asia-Pacific (APAC) is the most significant emerging region for market development. China and Australia have already made LMS integral systems of education and training. However, the developing economies in APAC including India and Malaysia are yet to fully experience the growth in the adoption of such systems and this will propel the market growth in the future.
With increasing internet penetration and adoption of smartphones, the Middle East and Africa are also expected to show a good growth rate.
Translated with www.DeepL.com/Translator
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