The Cloud-Based Learning Management System market to grow at a CAGR of 33.7% during the forecast period 2017–2023 to aggregate $14.45 billion by 2023
Cost benefits of moving to the cloud in addition to the advantages of scalability, accessibility, and simplicity drive the growth of cloud-based LMS. Technological advancements in learning platforms have prompted the users to upgrade their traditional LMS to a more user-friendly modern LMS. The institutions and organizations are also willing to address the modern trends such as mobile learning, BYOD, and social learning.
Infoholic Research LLP, a global market research and consulting company, has published a study titled “Cloud-Based Learning Management System (LMS) Market: Global Drivers, Opportunities, Trends, and Forecasts to 2023”.
According to Infoholic Research, due to the benefits of cost, accessibility, simplicity, and scalability, cloud-based solutions have become highly popular in recent times. The users of the traditional LMS are aware of the technological changes and are planning to upgrade to the cloud-based solutions. In addition, the trend of BYOD and mobile learning have prompted the academic institutions and organizations to provide higher flexibility to their employees and students in their learning process. The major education technology vendors are now focusing on the development of cloud-based solutions which drives the growth of the cloud-based LMS market. The market is expected to grow at a CAGR of 33.7% during the forecast period 2017–2023 to touch an aggregate of $14.45 billion by 2023.
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The applications that come under cloud-based LMS are equally important for a proper functioning of the system. User management and administration are the most relevant tools in a cloud-based LMS. Video-based applications, content management, and progress management are gaining popularity. Corporate and academic institutions are the prominent users of cloud-based LMS. The system is highly used across all the major verticals. While the traditional LMS was more relevant to the large enterprises, the modern LMS is relevant and appealing to wider sections of the institutions and organizations. Cloud-based LMS is equally gaining popularity across universities and K-12.
In terms of regional analysis, North America holds the largest share in the market. The wide presence of major cloud vendors is driving the cloud-based solutions in North America. Asia Pacific is next in line to the share and registers the highest growth rate. The developing economies such as China and India are the major markets. Europe is a mature market for LMS; cost benefits of cloud-based LMS are likely to attract the SMEs in Europe. MEA and Latin America are equally investing in the development of IT infrastructure and e-learning.
“Cloud-based learning solutions are relevant to wider sections of the society. As such, the opportunities in the market are huge. The emerging economies of Asia, Eastern Europe, and Latin America are likely to be the most attractive markets in the future. However, a clear understanding of the culture and the specific demands of the academic institution or the organization are required to succeed in the market. Higher integration with the learning platform and higher usability are likely to play a major role in the success in the market.” – Kumar Avnish, Research Analyst at Infoholic Research
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The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- This report not only highlights users’ conundrum (challenges and barriers to adopting cloud-based LMS) but also brings in their perspective on the cloud-based LMS market
- The market has been analyzed by considering the key regions – North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- The report analyzes the market as per the applications, user type, and corporate verticals
- Stakeholders’ insights and key trends (current and future) of the market
- The report covers the major trends in the learning industry such as microlearning, gamification, and mobile learning, and the impact of the same on the cloud-based LMS market
- The report covers the growth of the market in 23 countries across five different regions. The countries are either a major market or an attractive destination for investment
- The report covers ecosystem, evolution, and benefits of cloud-based Few of the other key sections are architecture and industry standards