The constant modernization of e-learning tools is predicted to alter the development of the corporate learning management system market. The development in the concept of enterprise mobility is further expected to provide new opportunities for growth in the forecast period.
COVID-19 pandemic have dawned upon humans, badly hurting the world economy. However, the gradual increase in the adoption of remote working culture and previously established BYOD trend can support corporate training processes. Market Research Future (MRFR), reveals that the global corporate learning management system market 2020 can rise at 27% CAGR across the evaluation period (2016 to 2023). On the conclusion of the review period, the corporate learning management system market can value at USD 7 Bn by 2023.
The availability of strong government support and the presence of encouraging policies is expected to enliven the growth prospects in the approaching period. The incidence of options that can be favorably capitalized on is aiding the market players in improving their overall position in the market. The balance in demand and supply in the market will prove as an encouraging growth factor in the forecast period. The market is expected to record a stable growth rate in the coming years. The market competitors are expected to play a critical role in the development of the global market. The development of adequate sources of raw material is predicted to transform the market in the upcoming period further. The competition in the market is manageable, which is inducing the entry of new players in the global market. The upgrades in production methods are estimated to transform the potential of the market in the forecast period.
The prominent contenders in the corporate learning management system market are Tata Interactive Systems (India), Upside Learning (India), Geenio (Cyprus), Epignosis (US), Docebo LMS (Canada), Instructure Inc. (US), Cornerstone OnDemand (US), SumTotal Systems (US), G-Cube (India), Latitude CG (US), Saba Software (US), Expertus inc. (US), LearnUpon (Ireland), Mindflash Technologies Inc. (US), Cypher Learning (US), and Schoology Corporation (US).
Detailed Regional Analysis
In Asia Pacific, the expansion of the corporate learning management system market across the evaluation period can be due to increase in the rate of employment. The expansion of customer base of different companies in different countries across the field of IT & telecom can drive the growth of the corporate learning management system market in the region. APAC houses major IT companies and developer of different technologies associated with corporate LMS (Learning Management System). This can boost the rise of the market in the near future.
MRFR regional analysis shows that North America corporate learning management system can dominate across forecast period. Technical advancements in the region are reshaping learning methods and high adoption of e-learning tools by different enterprisers can boost the corporate learning management system market in North America.
The segmental study of the corporate learning management system market is conducted on the basis of component, delivery mode, deployment type, vertical, and organization size. On the basis of components, the corporate learning management system market is segmented into solutions and services. The solutions are sub-divided into integrated solutions and standalone solutions. The service sub-segment is additionally sub-segmented into implementation services, consulting services, and support services. On the basis of delivery mode, the corporate learning management system market is segmented into instructor-led training, distance learning, and blended learning. Based on the organization size, the corporate learning management system market is segmented into small and medium scale enterprises (SME’s) & large enterprises. Based on the deployment types, the corporate learning management system market is segmented into on-premises and cloud. The vertical based segmentation of the corporate learning management system market is segmented into IT & telecom, healthcare, government & defense, BFSI, retail, manufacturing, and others.