Global LMS market grows by 20 percent annually

Dublin/Pune (India) | The global market for LMS, based on data from the Irish market research company Research and Markets, had annual sales of around USD 9.2 billion in 2018. The growth from this year until 2023 is expected to be 19.6 % per year following the forecast of this same market researcher. By the end of 2022, a market value of around 22.4 billion US dollars would have been achieved. If one compares the results of the Irish market researcher with others, a more differentiated picture emerges. The Indian market researcher WiseGuy Research Consultants, for example, assumes that sales in the global corporate LMS market will increase by 28.23% between 2018 and 2025. According to WiseGuy Research Consultants, the global corporate LMS market is expected to have a market value of 11.55 billion US dollars in 2025.

Research and Markets sees the reason for this growth in an increasing acceptance of digital learning, an increased use of the BYOD approach, but also extensive government investments. In the forecast period, the integration of AI applications into LMS systems is likely to become important, says the market researcher. Cloud-based LMS would record strong growth in the forecast period. So far, universities and colleges have invested more money in LMS than companies do, and this is likely to prove true in the forecast period.