Technavio announces the release of its latest report on the education apps market. The market is segmented by end-user (higher education, and pre-K-12) and geography (APAC, Europe, MEA, North America, and South America). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.
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Technavio has announced its latest market research report titled Global Education Apps Market 2020-2024 (Graphic: Business Wire).
Education Apps Market: Key Findings
- Education apps market value to grow by USD 46.88 billion at about 26% CAGR during 2020-2024
- 42% of market growth to originate from APAC during the forecast period
- Based on the end-user, the higher education segment will offer maximum opportunities for vendors during the forecast period
- Education apps market is expected to have a positive impact due to the spread of COVID-19
Education Apps Market: Growth Drivers
The growing demand for STEM-based apps is one of the prime factors driving the growth of the market. Developed and developing countries across the world are increasing the emphasis on improving STEM education systems owing to the growing opportunities in these streams. This is encouraging app developers to make significant investments in creating numerous apps for the STEM environment. These factors are increasing the number of projects on STEM subjects, which is creating the demand for STEM-based apps.
“Rising preference for wearable technology and growing government initiatives will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Education Apps Market: Major Vendors
Age of Learning Inc.
Age of Learning Inc. operates its business through the Programs segment. The company offers programs such as ABCmouse, Adventure Academy, and ReadingIQ.
Alphabet Inc. operates its business through segments such as Google and Other Bets. The company offers Socratic. It is an education tech that offers an AI-enabled mobile app for students.
Duolingo Inc. operates its business through the Products segment. The company offers the Duolingo platform, which includes a language-learning website, and language courses such as Spanish, French, German, etc., and applications.
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