The LMS Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.4% during the forecast period, reaching USD 43.6 billion by 2027 from USD 18.7 billion in 2022.
The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Cornerstone, Blackboard Inc., Moodle, Instructure Inc., and D2L Corporation have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the LMS market.
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Cornerstone provides an extensive portfolio of LMS solutions, including Saba Learning, Cornerstone Xplore, and Cornerstone LMS. These solutions help organizations manage and train employees. The company deals in performance and learning products that manage education and development programs and measure the performance of individuals and groups. The company also provides consulting services to assist clients with selecting and implementing the most suitable solution that fulfills enterprise requirements. Cornerstone has witnessed consistent growth in the LMS market by adopting various organic and inorganic strategies. In terms of organic strategy, the company has continuously invested a significant portion of its revenue in R&D activities which has helped develop new products and solutions. In November 2021, Cornerstone launched Cornerstone Xplore, a new learning experience that offers a highly personalized learning experience to help employees learn at their own pace.
Blackboard Inc. is a leading EdTech company with a strong portfolio offering a wide range of solutions in the LMS market. It also has a strong market presence in the North American region, especially the K-12 school districts in the US and Canada. Blackboard launched its Blackboard Unite online learning platform, which included a suite of tools to help the K-12 sections shift to a remote learning environment. Blackboard has partnered with various distributors and third-party partners to expand its customer base in regions where it does not have a direct presence. In May 2021, Blackboard partnered with Baku State University, Azerbaijan, by offering Blackboard Learn, Blackboard Collaborate, and Blackboard Ally. Blackboard helped BSU create a scalable and connected learning environment for over 24,000 students and 1,500 faculty members.
Learning Management System Market by Component, Delivery Mode (Distance Learning, Instructor-Led Training, and Blended Learning), Deployment Type, User Type (Academic and Corporate) and Region - Global Forecast to 2027
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