Software Development For Education: Time For An Investment?
Education software has become popular these days with the rising trend of online learning. According to Statista, the global education software market is estimated to reach USD 11.6 billion by 2025. The rising popularity of education apps and software offers a promising business opportunity for entrepreneurs.
Entrepreneurs like you can get good returns by investing in education software or apps. But before taking any step, you must gather plenty of information about this business domain. There are a lot of things that you must understand before making any investment decision such as challenges, benefits, and more.
Understanding the possible cost of developing educational software and the factors affecting it is also important in decision making. Knowing the cost will give an idea of the possible budget. In this article, we are going explore this facet of developing education software. You will know the estimated cost of education software development so keep reading to get useful insights.
What Is Education Software?
It is an application or web-based software that users can utilize to learn new skills. Educational software facilitates remote learning and promotes self-learning. These software solutions include apps that help students learn subjects like Science and eLearning platforms that offer training for professionals.
With the continuous growth of online learning, developing educational software can offer numerous benefits. There has been rapid growth in the online education sector for a decade and the advent of the pandemic accelerated it. So, lots of opportunities are present for entrepreneurs in the education industry.
Education Software Development: Cost Breakdown By Process
The cost of developing educational software depends on multiple factors and the development process is one of them. In this section, we will break down the total costs based on the development process and other factors that impact the cost.
The educational software development process includes various phases, like designing, development, and testing. The total cost of developing education software depends on the expenses in designing, development, and other stages. So, we will look at these stages and the estimated cost of every phase in this section. Let’s find out more in the points below.
1. Requirement Analysis
This is the first step in education software development that helps to find answers to critical questions related to company goals, functional requirements, budget estimates, and more. Besides, it also helps to create a roadmap for the project. Project constraints, risks, and solutions are also discussed in this phase. The requirement analysis phase costs almost 10% of the total development cost.
2. UI/UX Design
It involves defining the User Interface and overall User Experience for your educational software. Mockups are created to visually represent the expected software or app. It gives an idea of how the software and the features will work. This phase accounts for almost 5-10% of the total cost of developing your software.
3. Development
It covers all the coding parts in front-end and back-end development. Developers will write business logic for your education software, set up databases, as well as code User Interfaces and features. This stage converts static mockups into fully functional software solutions. The cost in this phase can be divided into two components: front-end and back-end. Front-end development accounts for around 25% of the costs. Plus, the cost of back-end development will be around 40% of the total project cost.
4. Testing
Testing or quality assurance is an essential process that helps to identify bugs and errors. It ensures that the software is working as expected by solving possible glitches. It tests the functional and non-functional aspects. The cost of QA (quality assurance) is almost 15-20% of the project cost.
5. Deployment
In this stage, the software is made available to the end users by installing and configuring it in production. It also includes other aspects like user acceptance testing and customization. The cost in this stage depends on the services provided during the deployment.
6. Maintenance
After the software has been launched, it will require maintenance. Maintenance is crucial to keep the software up-to-date and functional by fixing bugs, applying software updates, optimizing, and more.
Technologies Used: Another Factor Affecting The Cost
The following is another factor besides the development process that influences the cost of developing education software. Specifically, the cost to build education software also depends on the technology used to build it. For example, if you choose a proprietary platform or framework, it will have some fees. So, it will add to the overall cost of developing the software. On the other hand, you can save such expenses if you choose open-source technologies to build your software.
If you want to build eCommerce software, you can choose a proprietary platform that is available on subscription or one that is open source. In the first case, you will have to bear monthly or yearly expenses. In the second case, the platform is available for free.
How Much Will It Cost To Develop Education Software?
Determining the exact cost of building educational software is tricky. However, the cost typically ranges between $20,000 to $200,000 (in USD), depending on various factors. The cost varies due to software complexity, number of features, technology used, and more.
Final Thoughts
In conclusion, calculating the cost of building education software is not easy as there are many factors affecting it. Consequently, the cost can vary in different scenarios. However, the estimates we have provided in this article can give you a rough idea of the cost.
