LONDON–(BUSINESS WIRE)–Oct 15, 2020–
The global education app market size is poised to grow by USD 46.88 billion during 2020-2024, progressing at a CAGR of about 26% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Technavio has announced its latest market research report titled Global Education Apps Market 2020-2024 (Graphic: Business Wire)
With the growing number of job opportunities in STEM fields, the coming years will observe a rise in the number of students opting for STEM subjects. This will subsequently drive the need for STEM-based learning apps. This will be one of the primary factors that will fuel the growth of the education app market during the forecast period.
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- The major education app market growth came from higher education segment. Institutions in the higher education segment are increasingly using education apps for assessments, distribution of educational content, sharing of schedules, and other activities. Many students have begun showing keen interest in downloading and using activity tracking apps embedded with learning analytics as these apps play a vital role in providing data-backed information that can improve the overall learning activity. As a result, the growth of the education apps market share by the higher education segment has been significant.
- APAC accounted for the largest education app market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The wide learning base in countries such as India, China, and Japan, the advances in technology in the education sector, and the high adoption rate of education apps will significantly influence education apps market growth in this region.
- The education app market is fragmented. Age of Learning Inc., Alphabet Inc., Duolingo Inc., Edmodo Inc., edX Inc., Lumos Labs Inc., MyScript, Quizlet Inc., Rosetta Stone Ltd., and WizIQ Inc. are some of the major market participants. To help clients improve their market position, this education app market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the education app market 2020-2024 is expected to have Positive an Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Rising Preference for Wearable Technology will be a Key Market Trend
The rising preference for wearable technology has been identified as one of the key educational apps market trends. The use of wearable technology will provide a platform for students and instructors to share ideas and implement processes. The ability to integrate wearable devices with smartphones and the growing preference for cloud data storage will also drive the adoption of wearable technology in the education industry. The above will induce companies to focus on introducing innovative products that, when connected to educational apps, will facilitate collaborative learning.
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Education App Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist education app market growth during the next five years
- Estimation of the education app market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the education app market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of education app market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user placement
- Higher education – Market size and forecast 2019-2024
- Pre K-12 – Market size and forecast 2019-2024
- Market opportunity by End-user
- Customer landscape
- Overview
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher-priced units
- Market challenges
- Market trends
- Overview
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Age of Learning, Inc.
- Alphabet Inc.
- Duolingo Inc.
- Edmodo Inc.
- edX Inc.
- Lumos Labs, Inc.
- MyScript
- Quizlet Inc.
- Rosetta Stone Ltd.
- WizIQ Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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.
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INDUSTRY KEYWORD: MOBILE/WIRELESS TECHNOLOGY OTHER TECHNOLOGY SOFTWARE NETWORKS OTHER EDUCATION TRAINING UNIVERSITY PRIMARY/SECONDARY EDUCATION
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 10/15/2020 07:58 AM/DISC: 10/15/2020 07:58 AM
Copyright Business Wire 2020.
