Portland, OR -- (SBWIRE) -- 06/13/2018 -- Learning management systems (LMS) are software applications/tools designed to develop, manage, and deliver learning & training modules and services to academic and corporate users through electronic media. The Asia-Pacific learning management systems market size is expected to generate $2,884 million by 2022, growing at a CAGR of 34.2%. The LMS market in Asia-Pacific is influenced by several drivers, restraints, and opportunities. Growth in adoption of e-learning and inclination towards "on-the-go learning practices" drive the LMS market.

Numerous educational institutions in develop ping economies have been unsuccessful in adopting these technologies, owing to insufficient funds and lack of skilled workforce. However, economic progress in developing countries and improvement in educational facilities are expected to generate growth opportunities in the near future.

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Significant investments in IT infrastructure and rise in preference for digital learning, due to its several advantages, have led to wide adoption of LMS in academic and business learning/training programs across Asia-Pacific. In addition, the education industry, in these countries, has witnessed rapid growth, and is anticipated to continue the trend in the future.

Rise in BYOD trend in various organizations has boosted the adoption of LMS. The implementation of BYOD has increased in organizations due to their proactive measures to promote digital learning and reduce cost & time incurred in learning & development.

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China accounts for the highest percentage of LMS market share. However, the penetration level of LMS is lower as compared to developed countries such as Australia and Japan. However, in the last few years, the market has witnessed attractive growth as both large and medium sized organizations have adopted this electronic educational technology. Moreover, change in traditional education system and increase in number of start-ups in the e-learning industry have encouraged the market growth.

Key market players such as Apple Inc., Google Inc., Garmin Ltd., Fitbit, Inc., Motorola Mobility LLC., Sony Corporation, Samsung, Huawei Technologies Co., Ltd., Pebble, and Nike, Inc. are highlighted with information on business overview, financials, product portfolios, investments, and recent strategies & developments. Companies have currently developed smart watches for athletic purposes by upgrading their products, thus enhancing their market share. These watches provide features such as heart rate monitors, sensors, and others