Product ID: SQMIG45F2111
Report ID:
SQMIG45F2111 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
92 |
Figures:
76
In 2022, North America is expected to dominate the learning management systems market because of the growing ed-tech activities in the region. There are many colleges and universities in the United States. This factor would provide players with a huge opportunity to expand their businesses in this country. According to the EdSurge ed-tech funding database, in 130 deals in 2020, education technology startups in the United States invested USD 2.2 million in venture and private equity funding. The investment is roughly 30% higher than the previous year, USD 1.7 million was invested in year 2019. As a result, North America is a significant contributor to Learning Management Systems Market expansion.
Similarly, the use of open-source learning management systems (LMS) has grown in Europe. According to Brighteye Advisors' European Ed-Tech Funding Report, 2021, EdTech funding in Europe increased to USD 711 million in 2020, up from USD 651 million in 2019. The demand for online learning is growing in Europe's educational and corporate sectors.
Over the forecast period, Asia Pacific is expected to have the fastest growth. China, Australia, India, Japan, Malaysia, Singapore, and other Asian Pacific developing economies are making an investment into platforms that promote online education, training, and courses. For instance, Chinese e-learning leaders such as TAL Education Group and GSX Techedu raised approximately USD 3.2 million in February 2020 to promote e-learning technology across the country. Similarly, Australia's ed-tech industry is the country's second-largest start-up community, and it is creating significant Learning Management Systems Market opportunities. As a result, the market in Asia Pacific is expected to grow rapidly.
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REQUEST FREE CUSTOMIZATIONGlobal Learning Management Systems Market size was valued at USD 21.22 billion in 2019 and is poised to grow from USD 24.7 billion in 2023 to USD 96.89 billion by 2031, growing at a CAGR of 16.4% in the forecast period (2024-2031).
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Product ID: SQMIG45F2111