Education is a big industry with an ever-growing market. That's why there are many companies out there that have created educational apps that can be used to teach students. But what's in it for the developers of these apps?
These learning apps are used for teaching, learning, and research. They use an interactive method for a person to learn about a new topic. The app can be used in many ways including in the classroom, at home, or at work.
Educational apps can also make money in several different ways. Some developers charge for their app, then earn revenue from upgrades and additional features. Others earn revenue from advertising, product placement, and sponsorships.
More developers make money through in-app purchases by offering virtual goods such as extra levels or characters for games and other items that players can use during their learning experience.
For some companies, educational apps are just a way to promote their main business, like publishers or e-book makers who might include an educational component with their guides and learning materials to earn money.
What’s stats say about the educational app industry:
- The education apps market share is expected to increase by USD 70.55 billion from 2020 to 2025.
- The education apps market growth will increase by $87.45 billion from 2022-to 2026.
- The education apps market is expected to grow at a CAGR of 26.32% from 2022-to 2026.
There are different ways in which educational apps make money.
While reading about the money-making from educational apps, various ways help developers or app owners monetize their free apps. Some of them include putting advertisements, selling merchandise like books, and subscription-based services to watch video recordings of lectures or having paid content on the app.
Let’s read them in detail:
Advertisements:
The app market is currently oversaturated with more than 350 million apps on the Google Play Store. Without a clear differentiation in pricing, features, content, and design, an app can be overlooked by users.
A change in advertising methods can offer new opportunities for developers of educational apps to make money without having to charge users upfront or even at all. By partnering with ad providers, developers can generate passive income.
Helping those brands which are looking to build their brand name by giving them visibility at your educational app can help them to grow and you earn more money.
Using Freemium Model
The Freemium model is a popular business model in the app market. It was first used to monetize free apps that were usually downloaded for free but had additional content that could be unlocked with a premium feel.
The main motto behind freemium apps is making money from the app. The increasing demand for education apps has led many companies to start using this strategy as well.
The average person can download the educational app and try out an app for some free time and then after can access the monthly or yearly subscription. There would be two versions of the educational app free version and the premium version. One can give the basic features for free and for the upgraded one they can charge.
This is how educational apps can make money.
In-app Purchase
In-app purchase is a form of microtransaction, which can be used to provide additional content or services that a user might need. It is a perfect way for educational apps to generate income from the additional content that they offer.
Microtransactions allow users to buy features or upgrades that are usually not necessary but are nice to have. Thus, for educational app providers who want to monetize their products, this model is perfect because it will not interrupt the user’s experience with ads.
This includes in-app purchases like game currency and power-ups; customizations and upgrades; virtual goods and items; lives in games; access to premium versions of the app.
This is how In-app purchases boost educational apps to earn money.
Conclusion:
Paid updates, referral programs, subscription fees, and many other methods are there to monetize educational apps. While thinking about education app development and planning to monetize your free apps, then the above-mentioned strategies will work for app developers or app owners.
To build a feature-rich app, one should hire educational app developers and can ask them to integrate the app monetization techniques to earn passive income.
If you are planning to used a educational app to earn money and increase your ROI. Then, refer this guide for best monetize method and how to apply it for your educational mobile apps.
Educational apps are beneficial in this pandemic as the school and institutes are closed.
E-learning apps have helped students to learn from these educational apps all over the world.
Educational app is not just used for school or college students, but it can be helpful in any age for learning new courses and languages.
Do you also want to develop your E-learning app?
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The Chinese market of educational innovations is also a developing one.
The advantage is that VR allows large groups of students to interact with each other in a three-dimensional environment.If you want to add VR elements to your educational product, you should note that the interface of the VR app will differ from the standard app a lot.
The first reason is that the user will not be able to interact with the smartphone physically, since it is put on the headset.
VR-based educational appBrain teasing appsApps that are designed to develop skills such as memory, attention, concentration, logical and evaluative thinking are still very popular.
Peak: Top brain teasing appsLanguage learning appsLearning a foreign language is, probably, one of the most common purposes to use and create an educational app.
The most popular apps in this niche are Duolingo, LinguaLeo, and Babbel.
Today, the world has its atlas shrunk on the six-inch screen where everything is accessible from anywhere.
Learning has become quite advanced and dynamic with the use of handy electronic gadgets, thus increasing the importance and need to develop an online education app.The story is not new –reported by Rossing, Miller, Cecil, & Stamper, back in 2012, mobile learning had benefited both teachers as well as students.
Even further, such a facility is at a global scale and it is not dependent on any platform.
With mobile web access growing approximately 20% a month, mobile internet growth is eight times more than the desktop-based.Two types of virtual learning exist today – Wired and Wireless.Diagrammatically –The in-town and distance learning has a thin line difference left; hence, educators should evaluate these two models based on six factors –The course content and its data handlingThe feedback of students and teachers for evaluationStudent support service availabilityLive streaming and bandwidth availabilityInteractivity between students and students-teachersPrivacy and securityAs these factors help you decide the technology platform for mLearning or eLearning, here are a few more dimensions you must carefully evaluate for a long term aspect.User-friendliness for both students and educatorsTechnical feasibilities and device limitationsDidactic effectiveness and resultsLong term cost-effectivenessDynamics of education or eLearning mobile applicationsThe next generation education asks for a collaborative and enhanced environment that is vigorous in data handling and smooth on live streaming.
The integrated digital ecosystem includes a number of stakeholders such as students, admin, parents, educators, and teachers.With eLearning industry had already crossed USD 200 billion in 2019 and is likely to touch more than 8% CAGR between 2020 and 2026, the education sector has to revamp the learning process by keeping student-centric eLearning apps.Personally, I believe that handling such challenges, especially when the users (in India specifically) are new, is a daunting task.
The key factors include –Seamless ecosystem: with the number of stakeholders increased, the platform should be integrated with special accesses and privileges for students, parents, educators, and lecturers.Foolproof evaluation: it can go for both students as well as teachers.
Here are some predictions that you need to watch out for in 2021!The year 2020 was like no other year before, but for those involved with Learning & Development in the eLearning industry, the year has provided some major and rapid growth.With rising work-from-home trends and all educational institutions operating remotely, many eLearning and education technology opportunities presented themselves to be quite useful.With e-Learning mobile app development, online learning has entered a new level and has made learning possible even during a global pandemic.Mobile Learning replacing Mobile ReadinessNo doubt, mobility has turned to be a very crucial part of day-to-day lives for billions of people.
Previously, training contents were built with the desktop users in mind, and then it was modified as per the need for mobile users.As the number of mobile users continues to increase and more users are developing a strong attachment to mobile learning, the traditional processes will be reversed.Mobile learning is reaching maturity as in 2019, there was a rapid increase in Educational app development solutions, but these solutions turned out to be more of desktop versions.
Its concept of distance learning has been of great help in corporate training where working-from-home is the new norm.In eLearning, AR is considered the most convenient technology in eLearning.
As the name suggests, this technology augments and also facilitates the use of graphics and images in the pre-existing training material.Being in a very initial stage, these technologies have been delivering very promising results.
MicrolearningFor nearly half a decade, this has been a buzzword in the concept of eLearning and is going to continue for 2021 as well.
And secondly, it allows the organization to provide purposeful and unbiased knowledge tailored to the wants and needs of each learner.With decreasing attention scale, more and more organizations will adopt the concept of microlearning.Video-based LearningThere’s nothing new in this concept but for eLearning, video-content has been an important part.Over the last few years, video content has exploded, pushed by the rapid growth of video-content sharing platforms.
