The proliferation of Smartphone has sky rocketed the growth of mobile apps. Whether we wish to socialize, pay bills, book tickets or seek entertainment, there is an app which can simplify our lives at a tap of a button. The mobile apps have also opened up avenues for budding entrepreneurs to invest. Astonishingly education forms the largest category of apps on Google Play Store. At present, there are around 1,94,215 education apps on Play store, with approx 1,67,566 free apps and 26,649 paid apps. Out of the education apps, a majority of apps are targeted for kids.
The kid’s education app makes a good investment for the start-up as parents find the mobile apps an interesting and engaging way for their toddlers to learn. A start-up can earn from these kids app in a number of ways. The average price of an education app is $ 4.25 on Play Store. The other ways by which the app developers can earn is by placing an advertisement in the apps. The in-app purchases attribute to 76% of all revenue generated in the Apple App store in the US and over 90% in the Asian market. The in-app purchases are controlled via a parent lock. By strategically placing ads, there is a huge potential for earning through affiliate marketing as well. The advertisements and in-app purchases are targeted towards parents so essentially kid’s education apps need to be moderated by the parents.
The start-ups can not only target parents but also target educational institutions which increase the revenue options many folds. An education app can be used to create a digital ecosystem where parents, teachers, students, and administrators can actively participate. Currently, there are apps which help toddlers to learn maths, to identify alphabets, explore animal kingdom, play music and improve their handwriting. These apps help kids to learn by themselves and at their own pace.
One of the major requirements of kid’s education app is that it should be visually distinct. The other important factor for a kid’s app to succeed is that it should be designed to engage kids. For this start-ups are using participatory design technique wherein the kids for whom the app is targeted are observed for understanding their interaction with various prototypes of the app.
There is a huge market for kid’s education app and unprecedented opportunities are existing for start-ups to create path-breaking mobile apps to transform education. Yes, the vertical already has some good competition but the scope for monetization is much higher.
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