Dublin (Ireland)| According to the current market analysis “Learning Management System (LMS) Market – Growth, Trends, and Forecast” by Research and Markets, the global LMS market is expected to grow by an average of 23.8% annually over the next 5 years, resulting in a market value of 31.44 billion US Dollar at year-end. The Indian market researcher MarketsandMarkets came up with almost equally high growth forecasts at the beginning of 2019, predicting average annual growth of 19.6% for the forecast period 2019 to 2023.
According to the newly published analysis by Research and Markets, growth factors are the increased use of the BYOD approach in companies. In general, corporate learning is a decisive growth factor, after all, the World Economic Forum 2018 has already officially declared that around 54% of all employees worldwide will have to be retrained and qualified due to digitalization. In fact, most market studies assume that LMS will grow faster in the corporate sector than in the academic sector. The Indian market researcher WiseGuy Research Consultants, for example, assumes annual growth of 28.23% in the forecast period 2018 to 2025.
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