According to the new research report published by Premium Market Insights, titled "Learning Management System Market is expected to grow from US$ 14,895.17 million in 2021 to US$ 50,995.16 million by 2028; it is estimated to grow at a CAGR of 19.2% during 2021-2028.

The current learning analytics landscape has dramatically expanded, especially for higher education. When students engage in gamified events, they can learn and practice better. Gaming features help create a fun and productive learning experience for learners. The implementation of gamification is most widespread in e-learning platforms meant for K-12 level students. According to an article published by EducationWorld in December 2019, STEPapp launched India's first-of-its-kind Gamified Learning EdTech app, intending to revolutionize K-12 education in the country.

Further, since the introduction of virtual reality (VR) and augmented reality (AR) into education, the class learning experience has undergone a tremendous transformation. While VR provides a built reality, AR provides a real image with an improved view. Thus, a surge in the integration of virtual reality, augmented reality, and gamification technologies across educational institutions offers better academic results, creating the demand for LMS platforms to support their implementation, generating opportunities for the future growth of the learning management system market.

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The COVID-19 pandemic has shaken several industries. The tremendous growth in the virus spread has urged governments worldwide to impose strict restrictions on vehicles and human road movement. Due to travel restrictions, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries, such as manufacturing & construction, retail, transportation & logistics, and automotive.

In 2020, the COVID-19 pandemic positively impacted the learning management system (LMS) market due to an increase in e-learning across several countries. For instance, according to the World Economic Forum report of April 2020, more than 1.2 billion students in 186 countries were affected by school closures due to the pandemic. In Denmark, students up to the age of 11 are returning to nurseries and schools after initially closing on March 12, 2020. However, in South Korea, students respond to roll calls from their teachers through online platforms. Thus, schools and universities have increasingly adopted the e-learning system since the start of the COVID-19 outbreak. Therefore, the overall impact of the pandemic on the learning management system (LMS) market in 2020 was positive.

Similarly, from 2021 to 2022, the demand for the LMS platforms increased due to the rising trend of bring your own device (BYOD) among enterprises. The COVID-19 pandemic has created a massive demand for BYOD trend as workers suddenly migrated to remote locations, resulting in new hybrid work environments. Therefore, the growth of the global learning management system (LMS) market in 2021 and 2022 is expected to be positive.

Based on deployment mode, the learning management system market is segmented into on-premise and cloud. In 2021, the cloud segment accounted for the larger market share. Based on delivery mode, the learning management system market is segmented into distance learning, instructor-led training, and others. In 2021, the instructor-led training segment accounted for the largest market share. Based on end-user, the learning management system market is segmented into K-12, higher education, and corporate. In 2021, the higher education segment accounted for the largest market share. Geographically, the learning management system market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for a significant market share in the global learning management system market.

The overall learning management system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the learning management system market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the learning management system market.

The key companies operating in the learning management system market include Blackboard Inc., Cornerstone, D2L Corporation, Docebo, International Business Machines Corporation, its learning AS, LTGplc, Hurix, SAP SE, and Zoho Corporation Pvt. Ltd.

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