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LMS Market to Grow by USD 79.05 Billion (2024-2028), Driven by NGDLE Adoption in Academia, AI Transforming the Market Landscape – Technavio Report

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NEW YORK, Sept. 10, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global learning management system (LMS) market size is estimated to grow by USD 79.05 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  27.17%  during the forecast period. Adoption of ngdle in academic sector is driving market growth, with a trend towards increasing popularity of cloud-based LMS. However, interoperability issues  poses a challenge. Key market players include Adrenalin eSystems Ltd., Blackboard Inc., Sprout On Web Pty. Ltd., Clearlake Capital Group L.P., D2L Inc., Degreed Inc., Docebo Inc., Epignosis LLC, GENTLAB S.R.L, Instructure Holdings Inc., Looop Online Ltd., Oracle Corp., Pearson Plc, PowerSchool Holdings Inc., SAP SE, Skillsoft Corp., Tovuti Inc., Violet InfoSystems Pvt. Ltd., Workday Inc., and Xperiencify.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Learning Management System (Lms) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 27.17%

Market growth 2024-2028

USD 79058 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

20.99

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 31%

Key countries

US, China, UK, Germany, and Canada

Key companies profiled

Adrenalin eSystems Ltd., Blackboard Inc., Sprout On Web Pty. Ltd., Clearlake Capital Group L.P., D2L Inc., Degreed Inc., Docebo Inc., Epignosis LLC, GENTLAB S.R.L, Instructure Holdings Inc., Looop Online Ltd., Oracle Corp., Pearson Plc, PowerSchool Holdings Inc., SAP SE, Skillsoft Corp., Tovuti Inc., Violet InfoSystems Pvt. Ltd., Workday Inc., and Xperiencify

Market Driver

In today’s business environment, cloud-based Learning Management Systems (LMS) have gained significant popularity due to their numerous advantages over traditional LMS. These advantages include eliminating the need for on-premises servers, reducing implementation costs, and offering faster setup times. Cloud-based LMS is typically subscription-based, resulting in a lower initial investment for organizations. The implementation process is also less time-consuming and resource-intensive, as there is no need for installing programs. Furthermore, the cost of cloud-based e-learning is generally lower than traditional LMS, making it an affordable option for schools of all sizes. Traditional LMS vendors are responding to this trend by offering competitive pricing, allowing more businesses and educational institutions to access this valuable technology. 

The Learning Management System (LMS) market is experiencing significant growth due to the trend towards online education. With budget constraints and reduced spending, cost-effective solutions like cloud-based LMS platforms are increasingly popular. Digital transformation and remote work have accelerated the adoption of LMS platforms for education and corporate users. These versatile platforms offer digital content such as eBooks, multimedia resources, and online learning activities to enhance learning outcomes. Blended learning, which combines face-to-face instruction with online methods, is a key segment. AI-driven personalized learning, gamification, social learning capabilities, and interactive platforms are product innovations that engage learners and provide real-time interaction and feedback. Key vendors prioritize developed infrastructure, quality services, and user-friendly interfaces to meet the demands of the corporate users segment. 5G technology and mobile education are future trends. Smartphones and communication devices are essential tools for accessing digital learning solutions. 

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 Market Challenges

•         Integrating a Learning Management System (LMS) with an existing Content Management Solution (CMS) or Academic Management System (AMS) can present interoperability challenges. Although LMS allows for integration, connecting it to an unsupported system can be difficult due to differences in eLearning standards. For instance, content structure variations between vendors make it challenging to reuse courses developed by one vendor with an LMS from another. To address this issue, organizations often rely on system-specific application programming interfaces (APIs) for successful LMS-CMS integration. However, the academic management system, which is often in-house and built on less-used standards, poses additional difficulties. The maturity of content management standards significantly impacts LMS cost, leading many organizations to opt for customized LMS services, which can be expensive. Effective LMS integration requires addressing these challenges to ensure a seamless teaching-learning process and enhance end-user satisfaction and learning success.

•         In today’s digital age, the Learning Management System (LMS) market is booming. Universities and businesses alike are adopting LMS platforms to deliver academic and corporate training in flexible, engaging ways. Challenges include supporting rich media formats like videos and interactive modules, virtual reality, and mobile learning. Microlearning and personalized instruction are key to student engagement. Content providers offer educational materials in various formats, from e-books to simulations. Assessments and assessments are essential for measuring progress. Advanced technologies like blended learning models, remote learning, and digital learning are expanding offerings. Internet penetration and digitalization of industries drive demand for LMS solutions. Strategic partnerships help LMS providers meet the needs of the digital age, offering upskill training programs and advanced technologies like simulations and assessments. User experience is crucial for success. As LMS platforms continue to evolve, they will become even more integral to lifelong learning and the future of education and training.

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Segment Overview 

This learning management system (lms) market report extensively covers market segmentation by  

End-user 1.1 Academic1.2 CorporateDeployment 2.1 On-premises2.2 On-cloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Academic-  The Learning Management System (LMS) market is experiencing significant growth due to the increasing popularity of online learning and the expansion of higher education institutions offering digital courses. In the academic sector, the higher education segment dominates, contributing the most to market revenue. Universities are hiring IT staff, including course designers and app developers, to increase their online course offerings. Additionally, the rise of m-learning in schools and colleges necessitates LMS solutions compatible with mobile devices. However, challenges exist in ensuring accessibility on various mobile architectures and operating systems. Students and teachers seek online certificate programs and vocational courses to gain a competitive edge in their respective fields. Institutions are integrating technologies like classroom management systems, analytics, and Learning Content Management Systems (LCMS) with LMS to design, develop, and launch online courses. Teachers can use analytics and reporting features to monitor student progress and create personalized learning paths. Universities providing online courses rely on LMS to manage students, distribute reading materials, and administer assignments. LMS is also extensively used for training and performance administrations in universities. Open-source LMS solutions like Moodle are gaining popularity in the market, capturing significant revenue. In the K-12 sector, blended learning methods are being adopted, requiring online course materials developed using LMS solutions. However, challenges persist, including the lack of operating knowledge for handling LMS among teachers and students and difficulty in using LMS in emerging economies. Despite these challenges, the integration of advanced technologies and the growing demand for online learning are expected to drive market growth during the forecast period.

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Research Analysis

The Learning Management System (LMS) market is experiencing significant growth due to the digitalization of industries and the shift towards remote work. With the rise of digital learning, LMS platforms have become essential tools for delivering online courses, training programs, and interactive educational content to individual learners and educational institutions. These platforms offer flexible learning options, blended learning models, and smart learning capabilities, making education more accessible and convenient than ever before. Mobile education, open online courses, and online tutorials are also gaining popularity, allowing learners to access educational content on their smartphones and communication devices. The business landscape is continually evolving, and upskilling and reskilling have become crucial for employees to stay competitive. LMS platforms enable progress tracking, certifications, and communication between learners and instructors, making them an essential component of the modern educational ecosystem. Internet connectivity is a key requirement for accessing these platforms, making them an essential tool for schools and educational institutions as well.

Market Research Overview

The Learning Management System (LMS) market is experiencing significant growth due to the digitalization of industries and the shift towards remote work. LMS platforms have become essential tools for delivering digital learning, online courses, and training programs to upskill employees. Advanced technologies like artificial intelligence (AI), 5G technology, and mobile learning solutions are expanding offerings and enhancing learning outcomes. Flexible learning options, strategic partnerships, and lifelong learning are key trends in this market. Corporate users are seeking cost-effective solutions, while educational institutions are adopting cloud-based LMS platforms for on-premises alternatives. Blended learning models, which combine face-to-face instruction with online learning activities, are popular. User experience, real-time interaction, feedback, and engagement are crucial factors for learners. Millennials prefer interactive platforms, gamification, social learning capabilities, and AI-driven personalized learning. Key vendors are innovating with user-friendly interfaces, AI-based LMS platforms, and content accessibility features. Virtual assistants, chatbots, and AI-powered avatars are also being integrated to provide a more personalized learning experience. Analyst surveys indicate that the market for digital learning solutions will continue to grow, driven by the need for upskilling and reskilling in a rapidly changing business landscape.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userAcademicCorporateDeploymentOn-premisesOn-cloudGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Typeform Delivers New Solutions to Empower B2C Businesses to Better Engage Customers

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Brands can now use video, data enrichment, and AI-powered capabilities to create interactive, hyper-personalized experiences and uncover deeper insights

SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — Typeform, the intuitive form builder and conversational data collection platform, today announced new features that provide business-to-consumer (B2C) businesses with the context, clarity, and convenience needed to better engage and understand their customers. Now businesses can further enhance the respondent experience, all while gathering richer, actionable data. 

Today, 70% of consumer decisions are based on emotion, including brand preference.¹ Buyers expect brands to tailor experiences to their personal preferences more than ever, but at the same time, they’re also becoming more cautious about sharing personal information. Typeform’s latest features help brands collect data directly from customers through interactive, personalized experiences they trust, then automatically enhance it with third-party insights to deepen their understanding. This empowers companies to deliver more targeted, data-driven marketing.

“Businesses can’t thrive on surface-level insights,” said Aleks Bass, Chief Product Officer, Typeform. “Our latest innovations give you the ability to dig deeper into truly knowing your customers by providing dynamic data collection experiences that encourage quality responses. Whether boosting conversions with a personalized product recommendation quiz or gathering feedback through video surveys, the common denominator is that your customers enjoy the experience.”

The offerings were unveiled at Typeforum 2024, Typeform’s first-ever virtual product spotlight event, designed to showcase the latest innovations from the company. Newly released features include: 

Enhanced Video Capabilities: Typeform now allows customers to respond with video, providing businesses deeper insights through voice and expressions, not just text. This builds on Typeform’s existing feature that enables creators to record, edit, and embed personalized videos into forms, boosting engagement and conversions. Typeform research found that 65% of marketers believe video is an effective tool for engaging and interacting with customers in ways that feel more human and create connection and loyalty.²Clarify with AI: Typeform’s Clarify with AI acts as a virtual interviewer, prompting follow-up questions based on customer responses. When a customer is asked about their experience and answers vaguely, like “good,” the AI encourages more detailed feedback, asking, “Good, how? What stood out?” For customers, it feels like a personalized conversation. For brands, it delivers more insights. Automated B2C Data Enrichment: Earlier this year, Typeform introduced automated B2B data enrichment, making it easier than ever to understand customers at a deeper level without needing to ask additional questions. Now, consumer-level enrichment is available in the Typeform platform. With just a personal email address, companies can pull in key data points from trusted third-party sources, providing a more complete picture of who’s on the other side of the screen.AI-powered Qualitative Analysis: With this feature, businesses can instantly analyze large volumes of text and video responses to surface key themes and insights, saving hours of manual work. Data Quality Tools: Invisible reCAPTCHA ensures data integrity by blocking bots and automated submissions, allowing only genuine responses to be collected. This safeguard enhances data reliability, helping teams make accurate, data-driven decisions.Klaviyo Integration: Typeform will soon be launching a new integration with Klaviyo, designed for B2C and direct-to-consumer (DTC) marketers. It will ensure that every insight gathered flows seamlessly into Klaviyo. Manual data transfers are eliminated as segments automatically update with Typeform data, enabling hyper-targeted campaigns customized to each customer’s unique profile. This integration combines Typeform’s interactive data collection with Klaviyo’s automation, facilitating more natural, personalized customer connections while driving business growth.

“We built a powerful product recommendation quiz not just to help our customers, but to generate invaluable data that allows us to better segment and engage them with relevant marketing,” said Addison Wennar, Digital Communications Manager, OGEE. “With the holiday shopping season approaching, these insights will be key. Typeform already delivers the highest response rates for us, and I’m excited to see how the new features will amplify that impact.”

The features are available today in Typeform for Growth plans. Watch the Typeforum 2024 recordings and learn how to use Typeform to better understand and engage customers here

About Typeform
Typeform is a distinctly intuitive form builder that helps over 150,000 customers collect and validate the data they need to grow their businesses. Designed with striking visuals, a conversational flow, and powerful data capabilities, Typeform empowers brands to give and get more with each form. Typeform drives more than 500 million responses each year and integrates with essential tools including Zapier, HubSpot, and Slack. For more information, visit www.typeform.com.

1         Pendell, R. (2024, October 15). Customer brand preference and decisions: Gallup’s 70/30 principle. Gallup.com. https://www.gallup.com/workplace/398954/customer-brand-preference-decisions-gallup-principle.aspx#:~:text=70%25%20of%20decisions%20are%20based,Making%20Process:%20Rational%20or%20Emotional?

2          Data from a survey of 105 Typeform customers conducted on September 30, 2024.

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SOURCE Typeform S.L.

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Electronic Drives and Controls Celebrates Impressive Growth and Strong Demand for Industrial Automation Solutions

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EDC has announced 39% revenue growth over the past year and a strengthened presence in the metals converting and composites industries. The company has also maintained key certifications, including CSIA, UL508A, Rockwell Automation, Siemens, and Ignition.

PARSIPPANY, N.J., Nov. 14, 2024 /PRNewswire-PRWeb/ — Electronic Drives and Controls, Inc. (EDC), a leading control system integrator and field service company for industrial automation and drive technology, today announced that the company has experienced a year of growth and success, achieving a 39% increase in revenue year-over-year. To meet the growing demand for automation and drive solutions, EDC has expanded its team, hiring Ricky Arcky as human resources manager and Tyler Schaberick as systems engineer. EDC attributes this growth to maintaining industry certifications, digital marketing efforts, a dedicated team, and strong, long-term partnerships.

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients.”

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients,” said Chuck Dillard, Vice President of EDC. “Our recent hires and increased project load reflect our strategy to grow both wider and deeper with our existing clients, as well as entering new industries.”

“We’ve put in years of preparation and invested heavily in digital marketing to get the word out about our services, knowing that growth was inevitable,” Dillard added. “Our team has worked tirelessly and the results speak for themselves: clients continue to return to us because of our technical expertise and the strong results we deliver.”

EDC’s expertise in coating & laminating, wire and cable, PLC programming and upgrades, as well as drive service, has allowed the company to strengthen its presence in the metals converting industry, securing new and expanded projects across multiple client plants. EDC has also successfully completed upgrades for a new client in the composites industry, widening the portfolio of industries it caters to.

In addition to recent growth, EDC remains committed to maintaining the highest industry standards through its CSIA certification, which ensures adherence to best practices in control system integration. Several certifications, including UL508A recertification and certifications from Rockwell Automation, Siemens, and Ignition, further emphasize EDC’s dedication to safety, technical proficiency, and continuous improvement.

About Electronic Drives and Controls, Inc.
Founded in 1968, Electronic Drives and Controls, Inc. (EDC) is a CSIA Certified control system integrator with deep domain expertise in the coating and laminating, and converting industries. The company’s large field service team specializes in AC and DC drives, PLCs and factory automation. Family owned and operated for more than 50 years, EDC’s team of engineers and technicians has a vast experience integrating new control systems and breathing life into older equipment. EDC has the engineering capability to design, build, start-up and service projects from the sophisticated to the simple and the service support team on call 24/7/365 to keep it all running at peak efficiency from day one and for years to come. In addition to the company’s certification as a Siemens Solution Partner and a Rockwell Automation Recognized System Integrator, EDC is a factory authorized/factory trained service center for over 40 drive brands. For more information, visit the company’s website, LinkedIn, Twitter, Facebook, and YouTube.

Media Contact

Georgia Whalen, Rivergate Marketing, (978) 697-2664, Gwhalen@rivergatemarketing.com, www.electronicdrives.com/home/

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SOURCE Electronic Drives and Controls, Inc. (EDC)

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Allstate Financial Services Selects Covr to Provide Life Insurance, Long-Term Care, and Disability Insurance Solutions

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Covr’s Digitally Enabled Insurance Platform Will Simplify the Buying Process

HARTFORD, Conn., Nov. 14, 2024 /PRNewswire/ — Covr, a leading digital insurance provider, has partnered with Allstate Financial Services, LLC to offer a streamlined suite of life, long-term care (LTC), and disability income insurance solutions through Covr’s digital platform. This partnership provides Allstate Financial Services customers with a simple, connected experience, featuring an intuitive, paperless process that makes it easier than ever to purchase insurance tailored to their diverse needs.

Covr’s platform offers an easy-to-use, self-guided experience to efficiently compare and recommend insurance products. Additionally, Allstate Financial Services will offer a range of products through Covr’s platform, including guaranteed issue life insurance through Gerber Life and disability insurance through Assurity, Ameritas, MassMutual, Mutual of Omaha and Principal. Traditional long-term care will also be available through Mutual of Omaha.

“We are extremely pleased to add Allstate’s network of 7,000+ representatives to our insurance platform,” said Michael Kalen, CEO of Covr. “Their business owners and individual customer base fits perfectly with our portfolio of simplified life, LTC, and disability income solutions for agents and their customers.”

“We’re committed to expanding solutions that better meet our customers’ protection needs,” said Scott Delaney, President and CEO, Allstate Financial Services. “With Covr’s digital platform, our representatives can deliver a more connected experience and offer a broader range of insurance options tailored to each customer’s unique needs.”

Allstate representatives will collaborate closely with Covr’s sales team to ensure ongoing support. Allstate Financial Services will also benefit from Covr’s top-tier case management services, providing end-to-end support throughout the entire insurance process.

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SOURCE Covr Financial Technologies

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