Table of Contents:
- Statistics on LMS Market
- Statistics On LMS Software Adoption
- Statistics on LMS Usage
- Statistics on Benefits of E-Learning and LMS
- Final Words
Technology advancements have had a tremendous effect on all sectors, and education is no different. The exponential growth of information and communication technology has revolutionized the way classrooms are conducted and given rise to many innovative teaching and learning methods while also making education more accessible to many.
One such innovation of the Ed-tech sector is the Learning Management System, known as LMS.
LMS is a software application that enables the creation, delivery, management, and tracking of e-learning courses through a single platform. LMS brings trainers, students, and administrators together to simplify online learning for all stakeholders.
Since its advent, it has positively impacted both students and teachers and helped make hybrid learning a success. The e-learning industry is growing exponentially, and with it, the LMS industry.
In this blog, we will share 21 statistics to shed light on the current and future state of the LMS industry. It will give you insight into where the LMS industry is headed shortly. So let’s get started!
Statistics on LMS Market
The LMS program has come a long way since the first electronic teaching device was invented in 1924 by psychology professor Sidney Pressey. Today the remote working and learning culture, increasing adoption of digital learning, and rise of artificial intelligence have propelled its growth to new heights.
As a result, the global LMS industry is seeing a continuous rise in its revenue.
- Digital or e-learning is the fastest-growing market in the education industry. It has grown by 900% since 2000.
- At a global level, the LMS market was valued at USD 14.43 billion in 2021. It is expected to go from USD 16.9 billion in 2022 to USD 40.95 billion by 2029 at a 14.2% CAGR.
- The LMS market is projected to reach a market value of approximately $ 30 billion (29.9 billion) by 2025, with a yearly growth rate of 21.1%.
Statistics On LMS Software Adoption
Many educational institutions worldwide have adopted LMS to provide an effective learning experience for their students. It has become a necessity for some to cater to the increasing demand of students and staff, especially for students enrolling in distance education programs.
- North America (The United States and Canada) sees the highest adoption of e-learning across the globe. The e-learning market value was $120 billion in America in 2021.
- The second-highest revenue for LMS adoption is expected to come from Europe by the end of 2022. The highest number of takers of online courses is in Finland, followed by the United Kingdom, Sweden, and Spain.
- Asia currently has the highest e-learning growth rate at 17.3% annually. The LMS market size here is predicted to increase at a 34.2% CAGR by 2022 end.
- Latin American region is the 4th highest revenue generator from e-learning activities. An estimated 12 million people across 20 Latin American countries have engaged in one or the other kind of online education.
- At 15.2%, Africa has one of the slowest LMS growth rates. Lack of internet connectivity, teacher training, and online curricula impede LMS growth in the region.
Statistics on LMS Usage
Aside from its use in schools and universities, LMS platforms are also widespread in corporations and business houses. Employees and managers use them to upskill themselves and meet compliance requirements.
LMS is also popular among self-learners, hobbyists, and entrepreneurs who prefer online crash courses to improve their knowledge and skills. The fact that LMS courses can be taken at home at one’s own pace further buoys their popularity.
Let’s take a glance at the LMS and e-learning usage statistics.
- The current estimated number of LMS users is 73.8 million.
- The primary participants of LMS are corporate-level executives and managers, with a share of 65 and 35%, respectively.
- 37% of LMS users are adults, and 28% are young
- Long-established tech companies account for 30% of LMS users, higher than the education industry, which accounts for 21%.
- Government Institutions comprise 2% of the LMS software market.
- Real estate and nonprofits each occupy a 3% share of the LMS market.
- The share of other companies in the LMS Market is technology-12%, manufacturing-9 %, healthcare and consulting-7%, and software development companies-4%.
- 90% of students prefer online learning over traditional learning.
- More than 40% of Fortune 500 companies use e-learning to train their employees. The number is expected to grow in the near future.
Statistics on Benefits of E-Learning and LMS
Learning Management Systems are a boon to those who prefer independent learning at their own pace. Here’s a look at the benefits of moving from traditional face-to-face learning to digital and e-learning activities.
- Employee performance can increase by 15 to 25% if you allow them to learn at their own pace.
- E-learning requires 40 to 60% less learning time than traditional classroom learning and enhances retention by 25 to 60%.
- A survey by the American Society for Training and Development found that companies with a Comprehensive Training Program reported 218% higher revenue and 24% higher profit margins.
- Data published by CertifyMe.net revealed that 72% of organizations believe that e-learning helps them keep up with change, thereby increasing their competitive edge.
The above statistics show that digital learning and LMS are the education industry’s future and tremendous potential exists in the LMS Market. More and more people are turning to digital solutions to enhance their skills and simplify their learning journey.
If implemented correctly, LMS can benefit students and organizations by providing a personalized learning experience and helping meet their learning and development goals.
However, to stay ahead of the curve, finding a learning management platform with features that match your need is necessary.
At Hurix, we help institutions from across industries to achieve their learning goals with our customizable e-learning content solutions that are unique to your needs. Equipped with the latest technology, we endeavor to provide a holistic learning experience through our intuitive software that adheres to the highest standard.
Get in touch with us to learn how we can help empower your institution with our custom learning management and support solution.