Learning Management Systems Market Size, Share, Growth Analysis, By User Type(Academic, Enterprises), By Deployment Model(On-Premise, Cloud), By Industry Vertical(Government & Education, Retail, Healthcare, IT & Telecom), By Region - Industry Forecast 2024-2031

Learning Management Systems Market size was valued at USD 21.22 billion in 2019 and is poised to grow from USD 24.7 billion in 2023 to USD 96.89 billion by 2031, growing at a CAGR of 16.4% in the forecast period (2024-2031).

Key players are concentrating on the continuous development of their product portfolios through the use of advanced technologies. They are expanding their product portfolios to meet the demand for industry-specific and custom offerings. For instance, In May 2022, Class Technologies Inc. acquired Blackboard Inc., a well-known EdTech company that serves higher education, government clients, and businesses. With this acquisition, the company hopes to focus on providing creative resources to a variety of businesses while also accelerating innovation in its flagship learning management system. Similarly, strategic alliances, acquisitions, and collaborations would assist key players in increasing their Learning Management Systems Market share. 'Cornerstone OnDemand, Inc.', 'Blackboard Inc.', 'SAP SE', 'Adobe Inc.', 'Docebo Inc.', 'Instructure, Inc.', 'Moodle Pty Ltd', 'Saba Software, Inc.', 'D2L Corporation', 'IBM Corporation', 'Oracle Corporation', 'Edmodo', 'Schoology', 'Absorb LMS', 'TalentLMS', 'Litmos by SAP', 'G-Cube Solutions', 'iSpring Solutions Inc.', 'UpsideLMS', 'Epignosis LLC (eFront)'

The rise of 5G technology has resulted in significant changes in the cloud computing world. 5G's low latency connectivity allows for smoother communications and faster data transfers. 5G speeds up access to video analytics and artificial intelligence, making cities safer. This enables city managers, building owners, and facility managers to make more informed decisions and provide better public services. These factors are creating a lucrative growth opportunity for the learning management market over the forecast period.

Due to the closure of educational institutes and universities around the world, the COVID-19 pandemic has had a positive impact on the learning management systems market, as customers have increased their use and adoption of online and digitalized learning methods. Consumers are increasingly preferring to learn online during the pandemic, which is driving massive growth in learning management systems. Furthermore, educational industries provide customers with learning management system options all over the world, allowing them to continue their educational degrees and improve digitalized learning in the market. As a result, during the health crisis, this has become one of the major growth factors for the learning management system market.

In 2022, North America is expected to dominate the learning management systems market because of the growing ed-tech activities in the region. There are many colleges and universities in the United States. This factor would provide players with a huge opportunity to expand their businesses in this country. According to the EdSurge ed-tech funding database, in 130 deals in 2020, education technology startups in the United States invested USD 2.2 million in venture and private equity funding. The investment is roughly 30% higher than the previous year, USD 1.7 million was invested in year 2019. As a result, North America is a significant contributor to Learning Management Systems Market expansion.