Northbrook, IL 60062 -- (SBWIRE) -- 03/23/2022 -- According to a new market research report "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" published by MarketsandMarkets™, the global LMS Market size 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.

Enterprises focusing more on human capital development is a major factor for the growth of the LMS market. Effective employee learning and development brings a positive impact on employee performance and organizational competitiveness. Training also helps employees develop a positive attitude toward learning and improving proficiency, which results in enhanced productivity and competitiveness in the workplace and the organization. LMS helps enterprises prepare effective training modules for employees to understand and grasp the information. Employees can access the modules at any time to brush up on their knowledge. This helps employees be more productive and deliver value to the company.

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By User Type, the Academic segment to hold the larger market size during the forecast period

The Academic segment of the LMS Market is projected to hold the larger market size in 2021. The Academic segment is further divided into K-12 and Higher education. LMS is used in academics to improve the efficiency of the learning process. This helps streamline the education process by enabling mobility, interaction, and real-time teaching. The use of mobile phones and smart devices has increased significantly in the young 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 up new doors for sharing knowledge without boundaries of time and distance.

By Corporate users, the Retail subsegment to grow at the highest CAGR during the forecast period

Among the Corporate users, the Corporate sub-segment is expected to grow at the highest CAGR during the forecast period. Employees in retail must coordinate with multiple parties to ensure the right product delivery at the right time and the right place. Moreover, retail companies continuously keep adding new products to their product range. Thus, there is an increasing need for training and development in the retail industry, which represents a significant opportunity for LMS providers in the retail industry. The key skills training required in the retail industry include sales development, product training, leadership skills, product promotion, assertiveness, customer experience and care, retail recruitment, and communication.

By region, North America to account for the largest market size during the forecast period

North America holds a strong position in the global LMS Market, due to the presence of most of the top LMS vendors such as Blackboard, Cornerstone OnDemand, D2L, Instructure, and PowerSchool. The region is well-connected with advanced infrastructure, which helps LMS vendors offer quality services to their clients. In North America, LMS is used by both corporate users as well as academic institutes to provide a personalized learning and development experience. The region has also witnessed the earliest adoption of cloud and mobile technologies, which has been a significant booster for adopting LMS solutions to improve employee efficiency and productivity. In the education sector, owing to the advanced technologies present in the region, students are more digitally connected and aware of eLearning and interactive course content.

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Market Players

Major vendors in the LMS Market include 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).

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