Education - Baltics

Baltics

The Education market in the Baltics is projected to reach a total revenue of US$1.25m in 2022.
This represents a significant growth potential for the country.
Furthermore, the market is expected to demonstrate a steady annual growth rate (CAGR 2022-2027) of 10.47%, resulting in a projected market volume of US$2.13m by 2027.
Within the Education market, the revenue from in-app purchases (IAP) is projected to reach US$715.30k in 2022, indicating a notable opportunity for monetization through this avenue.
Additionally, the revenue from paid app downloads is projected to reach US$31.46k in 2022, further contributing to the market's overall revenue.
Advertising also plays a significant role in the Education market, with projected revenue expected to reach US$500.10k in 2022.
This suggests that advertisers recognize the potential in reaching the target audience within this market segment.
In terms of user engagement, the number of downloads in the Education market is projected to reach 2.02m downloads in 2022.
This indicates a strong interest and demand for educational content among consumers.
When considering the average revenue per download, it is currently expected to amount to US$0.62.
This metric provides insight into the effectiveness of monetization strategies implemented within the Education market.
In a global comparison, it is interesting to note that in the United States generates the highest revenue within the Education market, projected to reach US$2,681.00m in 2022.
This highlights the dominance of the US market in terms of revenue generation within the Education market sector.
Overall, the Education market in the Baltics presents a promising opportunity for growth and revenue generation, with various revenue streams and a significant number of downloads.
By capitalizing on these factors, stakeholders in the Education market can tap into the potential of this thriving industry.

Key regions: China, Germany, Europe, South Korea, United States

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.