According to this study, the market growth is anticipated to pick up speed during the forecast period as a result of factors like the expansion of initiatives and developments aimed at digitalizing education, widespread adoption of learning management systems among educational institutions, rising internet penetration, and rising smartphone adoption.
Between 2022 and 2032, the learning management system (LMS) market is anticipated to expand at an astonishing CAGR of 18.0 percent. The market is anticipated to increase from US$ 18.8 billion in 2022 to US$ 98.5 billion in 2032.
The major factor that is expected to propel the growth of the learning management system market during the forecast period includes the growing demand for smart and interactive learning platforms, such as electronic learning (e-learning), open online courses, mobile education, and online tutorials, coupled with the growing preference for training and learning sessions. Educational institutes adopt tools to support and enhance the learning process and teaching efficacies.
Moreover, an increase in penetration of smartphones coupled with fast internet connectivity, rise in preference among consumers for learning management systems, and massive adoptions of these systems among educational institutes accelerate the learning management systems market growth.
Additionally, an integration of artificial intelligence (AI) offers significant opportunities for learning management systems companies to expand their offerings, owing to factors such as automation of human-intervened operations.
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