The Edtech industry is not only upgrading the conventional learning and teaching process but also presenting unlimited possibilities for enterprises in the USA, Canada, and the UK to capitalize. With the success of educational apps like Duolingo, Babbel, Google Classroom, etc. investment in this segment is further scaling up with the introduction of new-age technologies like Augmented Reality, Virtual Reality, Generative AI, and others.
Currently, the Edtech industry is generating revenue of over $222.4 billion which is predicted to reach the mark of $661.2 billion in 2032. (Source: Impactful Insights)
However, to shine in this industry, having a surplus budget is not enough. You need to have a unique Edtech app idea for which communicating with a professional Edtech app development company is crucial for your project’s success. Besides, obtaining the desired outcome, it will also help you to come across:
Some Useful Edtech Market Insights to Grow Your Business in 2024
- At present, there are over 45,000 educational applications combining the Play Store of Google and the App Store of iOS (Source: Business of Apps)
- The United States is currently leading the Edtech market with an impressive market share of 36.5 percent (Source: Market.us)
- The venture capital investment in the Edtech sector has already crossed over $16 billion (Source: Holon IQ)
- Right now, Duolingo has an active user population of 16.2 million and generated an impressive in-app purchase revenue of $37.8 million (Source: Statista)
- The K-12 segment occupies 56 percent of the global Edtech revenue share. (Source: Grand View Research)
What are Some Major Impacts of Generative AI in Edtech?
1. Personalized & Adaptive Learning
Initially, it was difficult for mentors to provide personalized education to students possessing distinct merits and learning abilities.
Now with the help of the leading-edge technology of Artificial Intelligence, institutes are offering customized education and training to students having diverse intellects and learning potential quite smoothly.
Even students with special needs are also not left behind. They are also obtaining quality education with the successful implementation of Generative AI across different learning establishments.
2. Immersive Experience
Generally, it is very boring to listen to classroom lectures or stare at the textbooks for a long time.
Hence, to serve students with a refreshing and realistic learning experience, many establishments are seeking help from a professional help of a professional app development company.
It helps them to efficiently utilize the power of Generative AI with 3D technologies like AR/VR/MR to introduce immersive e-learning courses. This helps them to enhance a student’s learning interest and ensure an improved retention capability by over 75 percent.
3. Gamified Learning
To ensure the deeper involvement of students in the classroom and academic activities, Generative AI is proving to be a useful tool for learning institutes around the world.
It allows them to bring out gamified assignments comprising points, rewards, leaderboards, etc. to transform normal tasks into a challenging and delightful experience.
Similarly, this initiative is motivating students to work hard and work collaboratively to achieve their desired objectives and goals flawlessly.
4. Real-time Assessment
Previously, educators had to devote a lot of time and attention to assessing the learning progress and offering performance feedback to every student.
Now with the introduction of Generative AI, teachers can easily scrutinize the academic performance and learning progress of every student quite efficiently. This is also helping students to discover their learning drawbacks very conveniently.
However, to use the technology of Generative AI in measuring a student’s progress and providing vital feedback, consulting a top-rated app development company in the USA will be very helpful.
5. Provide Useful Insights
Generative AI is enabling educators to obtain essential information like career goals, subject preferences, creative knacks, etc. of every student thoroughly.
Moreover, it allows educational institutes to prepare an ideal learning curriculum or courses that will help students concentrate on growing their careers depending on their respective subject matter interests quite conveniently.
Generative AI in Edtech- Use Cases
At the moment, two leading Edtech establishments are working towards revolutionizing the learning experience with the help of Generative AI technology. Let’s have a look:
Khan Academy
The sole motive of this US-based non-profit establishment is to offer accessible, quality, and free education to every student. This purpose has driven the institute to bring out a robust virtual tutor assistant for students known as Khanmigo.
This Edtech app not only provides answers but also offers students with personalized in-depth guidance to understand complex subjects easily. Moreover, this chatbot also assists educators with facilities like personalized task allocation to students, creating interactive academic lessons, etc. within a very short time.
Udacity
This Edtech firm has also gained the limelight for introducing a responsive virtual tutor using the technology of Generative AI. From concept summarization, and supporting language translation, to offering answers to complex questions with examples, Udacity tool has proved quite useful in offering barrier-free online learning experiences throughout the year.
Why Choose Red Apple Technologies for Edtech App Development?
At Red Apple Technologies, we always work on fulfilling your business goals and requirements with a method-to-madness approach. Despite being a decade-old game and app development company, we always believe in constant learning, researching, and development to surpass your expectations with value-driven Edtech app development solutions.
What makes us count among the best in the USA and other countries of the world? Let’s have a walk:
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Commitment and Professionalism
No matter how complex your Edtech app development project is, we are committed to giving you the best outcome with 100% efficiency and professionalism. It is the reason, we are always a go-to destination for Unicorns, startups, Fortune 500 organizations, and other business establishments of all sizes.
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24/7 Support
Once you approach us with your dream project, it is our responsibility to fulfill your desired vision and requirements. Besides, our mobile app development services also come with 24/7 customer support and assistance. This allows a client to fulfill its urgent and immediate project requirements at any point of the day from anywhere.
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Agile Development Method
Our team focuses on detecting and eliminating flaws at every development lifecycle phase starting from the creation of a user-journey map. This allows us to deliver your project on time with an exceptional work quality.
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Flexible Engagement Models
We help clients to utilize the proficiency of our industry experts in every possible way. Hence, we provide them with recruitment options like dedicated hiring, fixed-cost projects, Time and Material (T&M), etc. to fulfill their desire to obtain top-notch mobile app development services.
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Maintain Confidentiality
As we value your time and money, we make sure that your Edtech project idea is safely preserved with your intellectual property rights. Hence, we always sign the non-disclosure agreement and other secrecy protocols to protect your project details from public disclosure.
What are the benefits of using AI-driven tutoring systems in education?
Answer: The incorporation of AI-driven education is offering students an adaptive and personalized learning experience. Similarly, for educators, this leading-edge technology is helping them to craft interactive academic curricula, streamline administrative tasks, and provide other privileges. However, to incorporate generative AI into your learning platform, you must hire app developers from a professional tech establishment.
What are some successful case studies of generative AI being implemented in EdTech?
Answer: As of now, the technology of generative AI in the Edtech industry is successfully implemented by leading institutes like the Khan Academy and Udacity. These establishments have brought out virtual tutor assistants using the technology of Generative AI.
What are the Key Considerations for EdTech App Development?
Answer: When developing an Edtech app, you must consider factors like app objectives, target audience, tech stack, workforce engagement model, monetization options, etc. To receive proper guidance, you can communicate with an app development company to proceed correctly.
How can Generative AI Help EdTech Companies Reduce Operational Costs?
Answer: From streamlining administrative tasks to preparing customized learning materials, and analyzing emerging market trends, the integration of generative AI allows an Edtech agency to obtain multiple benefits without much investment and effort. But to implement this next-gen technology efficiently, you should hire app developers with huge experience and expertise.