The global open-source Learning Management System (LMS) market is expected to grow at a CAGR of +9.26% by 2025
The global open-source Learning Management System (LMS) software market is expected to witness significant growth in the forthcoming years. The growth, according to a new study, will be driven by the rise in information and communications technology (ICT) expenditure by governments of various developed and developing regions, including North America, Europe, and Asia-Pacific.
Analysts at Research N Reports have projected the global LMS market to grow at a Compound Annual Growth Rate (CAGR) of +9.26% by 2025.
The Learning Management System (LMS) is a software application for managing, recording, tracking, reporting and providing educational courses or training programs or learning and development programs. Although the first LMS appeared in the higher education sector, most LMSs today focus on the corporate market.
Prominent LMS solution providers, such as Litmos Limited, Oracle Corporation, Paradiso Solutions, Saba Software, Inc., offer LMS including cloud and on-premise deployment models.
Asia-Pacific LMS market to see highest growth
According to the study report, the Asia-Pacific LMS market is likely to register the highest CAGR in the near future. This is because countries such as China, India, Japan, and Australia are offering lucrative opportunities for market players, the report said.
During their research, the analysts also observed that global vendors are investing high capital in the market to improve the overall LMS solution offering to ensure low-cost and optimized employee training modules and solutions.
They noted that increase in demand for low cost cloud deployment and surge in bring your own devices (BYOD) are key drivers of the European LMS market.
Titled “Global Open-Source Learning Management Systems Software Market Size, Status and Forecast 2025,” the research report evaluates the historical and the current performance of this market with an exceptional focus on the factors influencing the demand for cloud access security brokers in South East Asia, Europe, Japan, India, China, and the United States over the forthcoming years.