LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the education apps market in the US is expected to reach USD 5.80 billion by 2019, growing at a remarkable CAGR of close to 31%.
This research report titled ‘Education Apps Market in the US 2015-2019’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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The report categorizes the education apps market in the US into three major product segments. They are:
- Pre-primary education
- Primary and secondary education
- Higher education
Education apps market in the US by pre-primary education
As of 2014, the pre-primary education segment led the education apps market in the US with over 41% of the overall market share. For this segment (in most cases), demographically, parents belong to the Gen X and Millennial population categories, who are tech savvy, and whose personal and professional lives are strongly influenced by internet and ICT developments. As a result, parents' increased interest in improving their children’s education and their desire to include digital applications in the child's learning process play a key role in the growth of the education apps market.
Since the penetration of education apps is high in the US, due to mass adoption of mobile devices coupled with uninterrupted internet access, the education apps market in the US by pre-primary education is expected to grow at a slow rate during the forecast period.
Education apps market in the US by primary and secondary education
The education apps market in the US by primary and secondary education is expected to reach USD 2,276.5 million by 2019, growing at a CAGR of more than 31%.
“In the past decade, primary and secondary education has gradually evolved into a digitized version of itself. The recent educational apps explosion is transforming delivery of quality education at homes and in schools. With virtual schools registering healthy growth, there is huge potential for education apps for this segment,” says Faizan Akhtar, a lead education technology analyst at Technavio.
The report also quotes that government initiatives have played a strong role in the widespread adoption of these devices, which has resulted in institutions investing in other related and ancillary devices such as IWBs and LCS. Implementation of education apps puts stronger emphasis on the higher education segment owing to aspects such as the phase of learning where students choose their domain expertise and engage in interactive and collaborative learning.
Education apps market in US by higher education
The penetration of education apps in the higher education segment is mainly due to their ability to facilitate a personalized and flexible learning environment, which is gaining traction in the higher education segment. Education apps developed for learners in this segment provide a strong platform to apply theoretical knowledge to practice, which significantly enhances content retention rate and decision making abilities. “With most corporates complaining that there exists a wide skills gap amongst fresh college graduates, the emergence of such apps for students will play a vital role in overcoming challenge without disrupting the traditional learning environment,” adds Faizan.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Duo Lingo
- Lumos Labs
- Rosetta Stone
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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