MarketsandMarkets forecasts the global corporate LMS market to grow from USD 2.06 billion in 2018 to USD 7.12 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 28.2% during the forecast period. Corporate LMS enables users to create, track, manage, and share learning materials among themselves. It is an important tool for training employees in staffing and recruiting organizations.

There are several case studies available in the market that revolve around customer training, employee training, franchise training, retail training, supplier training, reseller training, compliance training, channel training, partner training, and others.

Corporate Learning Management System Market services incldue consulting services, implementation services, and support services. These services offer capabilities, such as smooth implementation, development, and maintenance of ongoing activities to organizations. Corporate LMS service providers assist and support organizational entities, such as customers, partners, support teams, marketing teams, and employees, with individual development and training.

Cloud deployment is expected to be a faster growing deployment type in this market. The overall adoption of cloud-based LMS solutions is expected to grow during the forecast period, due to its functionalities, core features, and various benefits including reduced upfront costs, ease in rolling out a new project, and low maintenance costs.

By delivery mode, the blended learning segment is expected to grow at a higher CAGR during the forecast period as it helps in time-saving, is less expensive, and effectively engages learners. It is a flexible way to guide learners, and combines the features of both traditional face-to-face classroom teaching and computer-aided modules.

The corporate LMS market in APAC is expected to witness strong growth in the coming years, as organizations in these regions are looking forward to adopting LMS solutions to meet the demands of the dynamic mobile workforce. Also, APAC organizations are trying to gain better ROI on talent development, assess their employee learning requirements, impart proper employee training, and receive quantifiable business outcomes.