The global and Chinese paying-for-knowledge app market is anticipated to exhibit phenomenal growth over the coming years. With burgeoning digitization, there is a lot of room for success of paying-for-knowledge applications. Digitization of content is resulting in the introduction of various technological innovations that enhance the process of learning. Increasing understanding of the concept of e-learning is one of the key factors driving the market during the forecast period (2012 to 2022).
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Thanks to improving internet infrastructure, people around the world have greater awareness regarding these applications. Rising penetration of smartphones and tablets is likely to bolster the growth of the market in near future. Improving spending power of consumers, especially in developing countries such as China, can stoke the growth of the market. This, coupled with changing lifestyles of people, is prompting them to seek advice and pay for it.
Many organizations worldwide are looking at paid knowledge sharing apps as a source of information, which can help them to raise their games. A large number of app developers are, therefore, capitalizing on willingness of consumers to pay for content. For instance, iGet is a booming mobile application in China that trades branded knowledge for money that the country’s tech groups are aiming at.
Paying-for-knowledge applications can sometimes rake in higher prices than gaming applications, since in the former category the payoff is learning and knowledge. Parents are more inclined toward investing in their children’s learning than in their entertainment. Applications that are able to provide the best of both factors are anticipated to emerge as a hit in the market over the forecast period. An app, in general, is preferred by a larger mass if it provides desired services adequately and also offers an engaging, entertaining, or delightful experience. Therefore, influx of such applications can provide an upthrust to the paying-for-knowledge app market.
On the other hand, creating such applications is a slow and expensive process— a status that will persist for next few years. This, in turn, can negatively influence the market. Moreover, increasing questions on the practicability of money-based knowledge sharing method is estimated to restrict the market from realizing its utmost potential.
Nevertheless, growing investments are projected to help participants to improve their offerings, which is likely to brighten the future of the market. A raft of players is trying to extend services for paid contents in fields such as finance, careers, and information technology. For instance, in January 2017, Zhihu, a Beijing-based Q&A website and application, announced that it received a funding of USD 100 million in its series of D-round financing. This new investment helped the company to introduce a new feature on its app known as “market” to offer lecture-type sessions, paid consulting, and interactive online Q&As for Zhihu Bookshop and Zhihu Live.
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The global and Chinese paying-for-knowledge application market can be segmented on the basis of age group and geography. Based on age group, the market can be divided into 40 years. Key geographical segments analyzed in the report are United States, China, Europe, Southeast Asia, India, and Japan. China is expected to account for a large share in the market through 2022. Rising disposable income of the populace, improving internet infrastructure, and growing awareness regarding these apps are contributing to the growth of the market in China.
Some of the prominent companies operating in the paying-for-knowledge app market are Ximalaya, Douban, Zhihu, Fenda, and iGet.
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