PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1215313
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1215313
Global Corporate Learning Management System (LMS) Market is valued at approximately USD 6.69 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 21.1% over the forecast period 2022-2029. A corporate learning management system (LMS) is software that is designed to provide the company's staff an online training and educational materials. Corporate LMS assists in onboarding new employees and prepares them with the information and abilities needed to carry out their responsibilities and supports them to meet organizational needs. The growing demand for advanced LMS solutions to effectively manage learning content, coupled with the increasing need for integrating interactive and personalized training environments is propelling the market demand across the globe.
The growing expenditure on employee workplace training is further fueling the demand for the Corporate Learning Management System (LMS). According to Statista, in 2020, the average spending on workplace training per employee worldwide was USD 1,267 billion which is an increase from USD 1,229 billion in 2014. Therefore, the increasing requirement for skill-based and objective-driven training to boost employee performance is exhibiting a positive influence on the growth of the market. Moreover, the rising incorporation of advanced technologies for a better training environment, as well as the growing trend of virtual online training is leveraging the market demand in the forecasting years. However, the unavailability of LMS solutions with multi-language support and the reluctance of enterprises to convert existing training content into microcontent is hindering stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Corporate Learning Management System (LMS) Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rising emphasis on enhancing employee efficiency and productivity, along with increasing spending on offering personalized learning and development experiences. Whereas, the Asia Pacific is expected to grow at the highest growth rate over the forecasting period. Factors such as the rising adoption of cloud and mobile technologies, as well as thriving demand for advanced LMS solutions to effectively manage learning content, are burgeoning the market growth in the forecasting years.
Recent Developments in the Market:
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study.
The report also caters to detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable