The diversification of education hardware in the student market in 2023: low entry barriers and serious homogenization of competition among manufacturers

CTOnews.com, December 8, news, Loto Technology today released a new report on the electronic education hardware market, the student market products show a diversified trend in 2023, due to the low barriers to entry, in the competitive situation, the major manufacturers give play to their own advantages to iterate products, to the appearance, function and other aspects to attract students to buy.

Loto Technology cited e-paper word cards to explain the market. CTOnews.com learned that this product line sold 250000 units last year and is expected to reach 323000 this year, an increase of 29.2% over the same period last year.

Loto Technology said that because of the low barriers to entry, the core technology of word card products is mainly focused on ink screens and batteries, which "can ensure eye protection, reading quality and long battery life".

After the homework gang released the Meow machine products, NetEase youdao, FYT, Rubu, studious, famous schools, Gaotuo, Tudu, New Oriental and other educational enterprises followed and joined the competition.

According to the monitoring data of ▲ Tuyuan Loto Technology, the number of e-paper word card brands was 38 in the first half of 2022, 92 in 2022 and 111in October 2023.

Loto Technology claims that because there is not much room for differentiation that word cards can make, consumers generally choose products with high brand recognition or the first to enter the market. For the whole of 2022, the market share of Meow phones is as high as 51.4%, while youdao, which ranks second, has a market share of only 10.9%. Other brands have a market share of less than 10%, showing the characteristics of high concentration.

However, it is precisely because there is not much room for differentiation, from January to October 2023, the largest brand on the e-paper word card line has become a hundred word chopping, with a market share of 32.7%, while Meow machine has dropped to second place with a market share of 31.6%.

In addition to the duopoly, New Oriental climbed to third place, with a market share of 10.9%. The market share of other brands is less than 10%, and the gap between major brands will be further narrowed in the future.

▲ Map Source Lotu Technology