The EdTech app development industry has witnessed exponential growth since the COVID pandemic forced every student and learner to study from home. As a result, the global e-learning market value reached $235.5 billion in 2022 - a number which is estimated to reach 648.6 billion by 2030. However, there are more advantages to creating a value-driven and user-friendly educational mobile app that goes beyond making the industry accessible. Benefits leading to a range of EdTech apps entering the market.
edX, Duolingo, ClassDojo, and Google Classroom are top educational apps currently thriving in the online education market. The edX platform alone has nearly 40 million users (students/learners) worldwide - a sign that proper EdTech app development can lead to high business growth and revenue.
In this article, we will look into some of the most common advantages of building an e-learning app and how to make them happen for your business.
6 Benefits of EdTech App Development
Remember, how strategically you conduct the EdTech app development process will determine whether your app can succeed and provide your business with the benefits mentioned below.
Better ROI
Building an e-learning app can promise a greater return on investment (ROI) than most app development projects. This is primarily due to the increasing demand for user-friendly online learning platforms. In short, EdTech app development is a less-risky endeavor that can most likely guarantee a lucrative outcome, especially if you have a user-centric and quality-driven approach.
Multiple Revenue Models
You can incorporate multiple monetization models into an educational app, providing multiple revenue streams for your business. These models include paid courses, education account registration fees, paid advertisements, freemium, in-app purchases (like a payment for direct chat feature between students and teachers), online store (eBooks and book delivery), and service charges (charging teachers/educators a small fee on every payment for paid courses).
You can include these revenue models during the EdTech app development process and activate them relevantly as the user base of your app increases.
Potential for Lasting Growth
Ever since the COVID pandemic, the demand for remote services has been increasing, whether it is medicine delivery, home healthcare solutions, food delivery, or e-learning solutions.
Therefore, creating an online learning app business can offer the potential for business for many years to come. And with new developments in online technology, you can only further improve the e-learning experience and keep growing.
Whether you are a startup or a large enterprise, the right strategy can enable you to build a rapidly growing e-learning business, which only offers more opportunities for growth and increased revenue over time.
Technology-driven Learning
As technology like Artificial Intelligence, AR, and VR keep improving, you can use them to incorporate high-tech solutions into your online learning platform. Using such an advanced educational app tech stack can help you increase the user and value-driven qualities of your app.
It is all the more relevant because the target users of e-learning platforms will primarily be millennials, GenZ, and Gen Alpha in the coming years. And since this target audience is drawn and used to the convenience provided by the latest technology, the availability of such technology can help you build a quality-centric and revenue-driven educational app.
Easy and Cost-effective Development
Another thing made easy by high demand is the development of educational apps since there are many EdTech app development experts. Also, since the target users of e-learning apps primarily expect a user-friendly platform for them to study and learn new things, you can choose to include only the educational app's essential features by building an MVP. Developing an MVP app is easy and affordable/cost-effective as it requires only the core features of an app.
Ultimately, it is the features that drive most of the educational app development cost, and including only the core ones allows you to simplify and save costs on development without compromising app quality.
Essential App
The service offered by educational apps will always be necessary; you may only need to improve its user-friendly and technology-driven elements with time. When you build this app, you are creating a business that has the potential of never going out of business if it always provides value to target users.
For example, a learner using an education app for academic studies may use the same for learning a new language a few years later. And another learner may use it to buy history eBooks or talk to educators/teachers. The point is that education in EdTech app development will always be in demand.
Additionally, more and more learners are considering remote learning before traditional learning in schools and colleges. It ensures that getting a user base for an educational app will not be an issue for a value-driven platform.
Hence, building an online learning app is a lucrative option considering its current and future potential.
Conclusion
While the online learning industry has promising growth opportunities, you must plan a user-driven EdTech app development process to ensure your app can become a part of such growth. It is the only way your app can succeed and grow in the Edtech industry, where the competition keeps increasing.
Ultimately, you must always focus on how your e-learning app can provide better value than competitors to create a thriving business.