Are you a founder and struggling to develop the idea for your start up? Do you have plans to create an EdTech app but don’t know how to do it?
Or still struggling with this question: Is it now the right time to develop educational applications?
If you have any of these issues, be sure to read this article on mobile education app development.
Let’s start.
An education app allows online learning without physical interaction. The online education software connects teachers, trainers and learners online through video and voice conversations participating in course studies.
Online Education app are a blessing these days. Regardless of size or capital, many organizations have started using e-learning platforms. To teach and train people who are physically distant.
E-learning is probably one of the fastest growing industries. The industry has grown by more than 900% since 2000 and by 2021 the growth rate has increased many times over.
Why to Create an Education App Like Udemy? – An Ideal Time to Boost Your ROI
As we all know, the Covid-19 pandemic has changed the way people interact, work and study.
The result is the opportunity to develop an education app for the introduction of new business models and innovations. Therefore, future entrepreneurs need to develop innovative applications that appeal to students, faculty and educational institutions.
Market statistics for e-learning
- Statista research shows the e-learning market will grow the worth of $243 billion till the end of 2022.
- Another report suggests that the e-learning market will grow by $289 billion by 2024.
- Data provider Research and Markets estimated that the EdTech market will cost a staggering 398 billion dollars till the end of 2026.
- The online learning market is well on its way to realizing this forecast as investment in this sector peaks in 2022.
The education application ranks the third most popular application category on the Apple Store and the second most downloaded category on the Google Play Store.
The main reason for the increase in demand is the impact of the Covid-19 pandemic. Which has shifted the traditional teaching methods. It shows that people gradually began to embrace the idea of learning with the application.
More and more companies have recognized a surge in this demand. And have filled the gap by exploring application development for the education industry. Learning does not have age. And to help students who are curious. Many platforms and e-learning applications such as Udemy, Coursera are generating a pocket full of profits. Due to high market demand for an education app.
What is Fuelling Up the Growth of the E-learning MarketPlace?
Nearly $330 billion… Sounds impressive, right? According to analysts, the volume of the global online education market will reach this value by 2025.
One might wonder why this is happening and what is affecting the advancement of digital education. We are ready to provide some explanations:
- Interest in affordable training (online learning platforms often offer cheap or even free services);
- Try to find a flexible education system (and online formats offer many opportunities for flexibility!);
- Need for company training;
- The pandemic and the resulting widespread transition to remote (online) mode.
Why Udemy Education App Leads on the E-Learning Market? – Let’s Find Out the Fine Points
Every successful business starts with an idea. Even Udemy started with thinking to provide each learner around the world with quick access to education. And this thought of Eren Bali, the founder of Udemy, led him to develop a successful online education app.
Udemy offers a large number of free and paid courses ranging from development to design and music certification with lifelong access to courses.
It operates on a market business model such as the e-commerce platform.
Revenue is generated based on cost percent received from each course purchased. This ranges from 3% to 75% based on traffic sources.
It works in 4 steps: User search for courses, register to pay, learn skills with their own speed, and increase with the certificate of settlement.
Next, let’s check the demand for the Udemy application market. If we see the numbers, now:
- Udemy has 50 million students
- Offering 150,000+ courses
- Have an estimated value of $ 2 billion
Numbers are enough to explain the reason why you should develop your own custom Udemy Clone.
How Udemy Clone Can Open Up the Doors of Profits for Entrepreneurs?
Various revenue streams:
Your Udemy Clone will open several gateways for you to produce revenue flow. Here are some:
- Commission: You will receive all numbers for each course and will provide a fixed number commission.
- Subscriptions: You can provide membership or subscribers to your users, which gives you a stable user base.
- Advertising: You can partner with other meaningful companies that services or products that you can advertise. Make sure they are relevant to your service and add value to your users.
Increased profit:
The education application like Udemy for your business will help you get a higher profit than other methods. Some monetization and flow of factory income will help you sustain your business.
Additional packages:
In addition to the regular plans for students and faculty, you can include an organizational plan that will help the company train its employees effectively. Organizations can subscribe to packages and offer training to their employees.
How do you create a competitive online education app?
By following the development steps outlined above, you will build an education app that can do its main job. However, this is not enough to cut the competition with the most popular e-learning platforms on the e-learning market. If you want to increase your competitive strength, keep the following in mind:
Specialization
Try to choose a niche with a purpose that caters to a specific audience.
The benefits of such a strategy have been proven over time. Famous companies like Amazon and Google. Once started their path to success by choosing a niche and then expanding their sphere of influence.
It is best to choose a specialization based on demand, consumer solvency and more.
24/7 support
Developing your education app is not enough; You also need to maintain it constantly (ideally 24/7).
Gamification
When people talk about studying, we usually get bored. But digital technology makes learning fun and exciting! All you have to do is add a gamification element.
VR, AR.
And of course, augmented reality and virtual reality are not to be missed. This is a great opportunity to grow and show your imagination! VR, AR allows you to visually demonstrate to students how certain processes work, thus turning traditional learning processes into exciting adventures.
Major Takeaway
E-learning is an incredible method for learning new things. This trend is poised to grow rapidly in the years to come. Therefore, the cost of building an education app like Udemy may be lower in the current situation.
You can do some of your work to do it well without suffering any loss. So, before embarking on the journey that will lead you to this destination, observe the movement and begin the process.
The idea of developing an Udemy Clone will definitely have a great opportunity.To thrive in this ever-changing world. Therefore, we have covered many other details required to build an e-learning app like Udemy.
After all, to turn your idea into a complete product, it is important for the company to hire professional engineers. And develop education app like Udemy with special features and good quality to serve the customer base.
