Education Apps Market to Record a CAGR of 27.49% | Age of Learning Inc. and Alphabet Inc. Among Key Vendors | Technavio

NEW YORK, Jan. 26, 2022 /PRNewswire/ -- The education apps market has been segmented into five regions, namely APAC, North America, Europe, South America, and MEA. The market will be dominated by APAC during the forecast period. China is the key market for the education apps in the region. The market growth in this region can be attributed to the vast consumer base, growth in the awareness about educational apps, rising Internet penetration, the adoption of smartphones, the educational institutions emphasizing on technology, and favorable government initiatives. Moreover, APAC will still account for around half of new subscribers globally by 2025, when the region is predicted to have 266 million new subscribers, bringing the total to just over 3 billion (70% of the APAC population). Thus, the education apps market is estimated to witness a significant growth in the APAC region during the forecast period.

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The education apps market is set to grow by USD 70.55 billion from 2020 to 2025. However, the market is anticipated to decelerate at a CAGR of 27.49%. The year-over-year growth rate of the market in 2021 is 29.98%. This report presents a detailed analysis of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters

The education apps market forecast report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market. Technavio identifies growing penetration in organized retail as one of the major factors driving the growth of the market. However, factors such as the declining birth rate may challenge the market growth.

The education apps market covers the following areas:

Education Apps Market Sizing
Education Apps Market Market Forecast
Education Apps Market Analysis

Market Segmentation Analysis
By end-user, the education apps market has been classified into two segments, namely higher education and K-12. The higher education segment will be a significant sector for the education apps market growth during the forecast period. There was a considerable growth in the higher education application segment in the global education apps market in the past year. The restrictions imposed by the governments of different countries to contain the spread of COVID-19 resulted in the temporary closure of colleges and universities. As a result, these restrictions switched offline classes to the online mode, which subsequently led to an increase in demand for higher education applications worldwide. However, these higher education apps are further expected to be in demand during the forecast period due to the continuous mutations in the COVID-19 virus, which is leading to more lethal waves of the pandemic.

Companies Mentioned

• Age of Learning Inc.
• Alphabet Inc.
• Duolingo Inc.
• Edmodo
• edX Inc.
• Lumos Labs Inc.
• MyScript
• Quizlet Inc.
• Rosetta Stone Ltd.
• WizIQ Inc.

The education apps market is fragmented, and market vendors are opting for inorganic growth strategies such as strategic partnerships with local vendors for different courses to maintain their dominance in the market during the forecast period. However, the competition among the existing vendors in the market is high with regard to business expansion, customer base, aftermarket services, and others.

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