(PRWEB) August 01, 2014
In today’s age, traditional learning methods are futile in helping the overall development of an individual. Hence, these methods need to be revamped, so that the necessary subject expertise and employability skills can be inculcated. In this age of the internet, online learning resources act as a boost to these conventional methods. Thus, learning management systems help in the planning, implementation, and assessment of e-learning methodologies.
As of now, these are proving to be very useful and this trend is going to continue. Globally, the LMS market was valued at $2.55 billion in 2013. It is expected to reach the mark of $7.83 billion by 2018. The market is projected to grow annually at 25.2% during the forecast period, 2013 to 2018. The top industry leaders in this segment are BlackBoard, Moodle, and Desire2Learn.
The total revenue of the North American LMS market has been estimated to be $1.74 billion. It is projected to reach $5.13 billion by 2018. The projection of the annual rate of growth is 24.1%. There are various factors for the high growth of the learning management systems in this region, such as the collaboration between universities, and also the various government initiatives. But integration and customization issues create a challenge for the implementation of these systems.
Browse through the market data tables, figures and detailed ToC on the “North America Learning Management System Market”.
Latin America Learning Management System Market
The Latin American LMS market had been valued at $33.5 million in 2013, and is projected to grow to $158.3 billion by 2018. The LMS providers in this region obtain government incentives as well as there is a high requirement for specific skills in organizations. This market’s annual growth rate is projected to be 36.4% during the forecast period.
Europe Learning Management System Market
A number of new government initiatives are being implemented in the European region. Also, organizations are taking more initiatives and the overall learning environment has been improved. The psychological barrier of resistance to online learning must be overcome, as it is one of the biggest challenges faced by the LMS market. The LMS market in the European region had been valued at $390.2 million in 2013. The market has been forecast to grow annually at 23.3% to reach $1.1 billion by 2018.
Asia-Pacific Learning Management System Market
The Asia-Pacific region has been witnessing quite a few changes in the way of teaching and learning. Aspects such as the rise in number of students, the need to enhance employee skills, and the changing government policies have led to the higher demand of LMS. However, since this is majorly an economically developing region, it becomes difficult to provide adequate resources for the purpose of online learning. The valuation of Asia-Pacific’s LMS market, in 2013, was $220.7 million. The market is projected to reach a value of $869.3 million by 2018. The market is projected to grow at a CAGR of 31.5% during the forecast period, 2013 to 2018.
Middle East and Africa Learning Management System Market
The LMS market in the MEA region was valued at $159.4 million in 2013. This market is expected to grow annually at 28.2% during the forecast period, 2013 to 2018, to reach $552.4 million by 2018. The MEA region is witnessing rapid social changes and also changes in government policies. Enterprises in this region receive tax incentives for the purpose of learning, which is one of the main drivers of the growth of this market. The main challenges that need to be faced are the limited skills of the current young population.
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