Portland, OR, January 21, 2017 --(PR.com
)-- Learning Management Systems Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $3 Billion by 2022, registering a CAGR of 34.2% during the forecast period 2016-2022. In 2014, China dominated the market and contributed more than 26% share of the overall market revenue, followed by Australia. Change in traditional education system and increase in number of start-ups in the e-learning industry in developing countries that sell online courses fuel the market growth.
View Detail Summary of this report: https://www.alliedmarketresearch.com/apac-learning-management-system-market
The learning management systems market is driven by advantages provided by these systems such as centralized learning platform, easy tracking & reporting, and easy upgradation of product. However, lack of awareness and e-learning infrastructure hinder the market growth. In addition, several educational institutions have failed to adopt these systems, owing to financial issues and lack of trained staff. Moreover, economic progress in several developing countries in Asia-Pacific is anticipated to increase the global market growth.
On-premise LMS accounted for about 54% market share in 2014, thus dominating the market owing to high customization opportunities and data security offered by this model. However, SaaS LMS segment is expected to grow significantly at a CAGR of 36.1% during the forecast period, attributed to the fact that it does not require any extra infrastructure or human resource for installation and management of the software. Moreover, China has contributed significantly in the on-premise LMS segment.
Among various countries, China contributed the maximum revenue share in 2014 and is also expected to lead the market over the forecast period. This is due to varied factors including presence of medium-sized business organizations along with large-sized organizations, and increased government initiatives. Moreover, adoption of the technology at a notable rate owing to its cost efficiency has boosted the growth of LMS in Asian countries, particularly in Australia, Japan, and India.
Interactive features such as threaded discussions, video conferencing, and discussion forums facilities stimulate the adoption of LMS and its market growth as their costs have come down. In spite of the newly adapted technology, learning management systems are applicable in almost every sector. In addition, user-friendly interface, easy upgradation, and enhanced features are expected to fuel the market growth in both corporate and academic sector end users. China, representing a significant retail market is expected to provide lucrative growth opportunities for top LMS service providers in Asia-Pacific market,states Manish Chaurasiya, Research Analyst, ICT Research at AMR.
Moreover, the BFSI application segment is projected to be the fastest growing region throughout the analysis period. Establishment of new regulatory bodies, rise in competition, and increase in use of IT have revolutionized the way the industry conducts business. Moreover, in the healthcare industry, LMS is popularly implemented to provide quick and efficient training sessions to the staff with the use of e-learning. Technological advancements for cost-effective LMS and its application not only for educational institutions and businesses, but also for nonprofit organizations in these nations, offer a lucrative opportunity for market growth.
Key Findings of the learning management systems market study:
In 2014, on-premise LMS deployment model led the overall learning management systems market revenue, and it is projected to grow at a CAGR of 32.5% during the forecast period.
BFSI application is expected to exhibit highest growth rate, owing to the rise in competition and technological advancement.
Currently, China dominates the market and is also expected to lead over the forecast period.
Corporate users lead the overall Asia-Pacific LMS market, with about three-fourths of the market share.
Key players operating in this market aim to expand their business operations in the emerging countries with acquisition and product launch as their preferred growth strategies. Major players profiled in this report include SumTotal Systems, Inc., Cornerstone OnDemand Inc., Blackboard, Oracle Corporation, and SAP SE.