According to this study, the market growth is anticipated to pick up speed during the forecast period as a result of factors like the expansion of initiatives and developments aimed at digitalizing education, widespread adoption of learning management systems among educational institutions, rising internet penetration, and rising smartphone adoption.
Between 2022 and 2032, the learning management system (LMS) market is anticipated to expand at an astonishing CAGR of 18.0 percent. The market is anticipated to increase from US$ 18.8 billion in 2022 to US$ 98.5 billion in 2032.
The major factor that is expected to propel the growth of the learning management system market during the forecast period includes the growing demand for smart and interactive learning platforms, such as electronic learning (e-learning), open online courses, mobile education, and online tutorials, coupled with the growing preference for training and learning sessions. Educational institutes adopt tools to support and enhance the learning process and teaching efficacies.
Moreover, an increase in penetration of smartphones coupled with fast internet connectivity, rise in preference among consumers for learning management systems, and massive adoptions of these systems among educational institutes accelerate the learning management systems market growth.
Additionally, an integration of artificial intelligence (AI) offers significant opportunities for learning management systems companies to expand their offerings, owing to factors such as automation of human-intervened operations.
What Factors Limit The Learning Management System (LMS) Market?
There are some factors that are acting as obstacles, and are hindering the growth of the Learning Management System (LMS) Market during the forecast period. Lack of performance tracking and measuring ROI is one of the major factors that is hampering the market growth.
Owing to the increasing adoption of LMS solutions, LMS vendors are constantly trying to implement modern technologies to improve their offerings. LMS solutions help educators adapt to reducing attention spans, with more visuals and less text, more engaging themes and expressions, emphasis on virtual immersive learning, and, eventually, gamification to captivate e-learners.
Moreover, high prices of courses and unstable internet connections in remote areas also impedes the growth of the market during the forecast period. In addition, a strong impact of traditional training is expected to limit the market growth during the analysis period. A learning management system supports teachers and educators during the learning session.
It supplements the classroom that helps in delivering and recording content. Many organizations are using tools for instruction delivery in the traditional classroom. However, as per various surveys, the impact and the end result of traditional teaching are observed to be more impactful.
As per industry experts, it cannot be applied for hands-on training and learning practical sessions. It can only be used to enhance the learning experience and not to replace the traditional system.
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