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Price Of Constructing An eLearning Platform

Cost of building an eLearning platform

Inspired by the success of Coursera and Udemy, you plan to develop your own eLearning app or site. The global digital education industry is predicted to continue growing for the next five years. For this reason, many companies have decided to bring their own solutions to the market. And here comes the first challenge: defining the cost of setting up an eLearning marketplace. Before starting the development yourself, you need to estimate the costs and formulate a development plan.

This article is helpful for those who want to learn more about building an eLearning platform and estimating the cost of developing their educational product.

A closer look at eLearning marketplaces

In short, eLearning aims to share knowledge and develop skills using advanced technologies. It’s an innovative approach to education that makes the process more convenient, adaptable, and accessible.

An eLearning marketplace enables students to learn anytime, anywhere. This can be an application, a website or a Learning Management Software (LMS) solution.

The benefits of an eLearning website

The answer to the enormous popularity and rapid growth of this industry are its numerous advantages:

  • Learners can access courses or educational programs anytime and from anywhere in the world, which has become a huge demand during the pandemic.
  • Courses are available on any device, even a mobile phone.
  • eLearning solutions provide an enhanced educational experience and the process is more engaging and innovative.
  • Learners are given access to different types of content such as videos, audio, illustrations, games, etc.
  • There are no limits to education.

4 factors that affect the cost of creating an eLearning website

1. Complexity

This factor is defined by the audience’s needs and willingness to meet them. Interactivity is an essential quality of online learning that guarantees improved student engagement. The more personalized you make the platform, the more costly the eLearning development becomes.

2. Developer Prizes

Depending on whether you opt for an outsourced development team or hire in-house staff, your expenses can vary widely. Offshore and nearshore team pricing can range from $ 19 to $ 79 per hour. We would like to emphasize that you need to discuss your project with a development team and select the necessary developer roles. Pay attention to the technology stack, because the more specific and complex this aspect, the more you will have to spend on specialists. When you work with outsourced developers, you get all the technical skills you need from a single source.

3. Content type

Select the types of content that you want to include in your solution. These can be pictures, videos, animations. When you need customized content, the costs go up. Standard tools are a cheaper option but don’t promise great quality.

4. MVP functions

The MVP approach offers numerous advantages. The deployment will significantly reduce time to market and reduce the cost of building an online learning platform. You should opt for the essential features for students, teachers, admin panels, and landing pages.

First, clarify your business goals

When you’re ready to create a bespoke solution, it’s time to set your educational solution development goals. For different companies, they can vary from training employees to setting up an international online school.

When you have a clear idea of ​​your goals, it becomes a lot easier to tailor the software to meet them. Don’t neglect the important process of business analysis and market research before moving on to development. It will greatly optimize your time, development team effort, and other valuable resources.
– Andrey Onopriyenko (Chief Technology Officer at KeyUA)

What does it cost to set up an eLearning platform?

As you can see from the factors above, the final development cost will depend on each project. The price depends a lot on the size of the development team, the platforms you want to publish your product on, the specifics and the design requirements.

Typically, a Udemy-like platform with a similar feature set costs around $ 20,000 for both Android and iOS apps. However, if you want to roll out add-on features, you should be ready to spend extra cash on it. A custom mobile app using AR and VR technologies requires a minimum of $ 40,000.

Remember, this is only an approximate estimate and you will need to base your project on your collaboration model, development team size, and rate as you run your project. If you want to optimize your spending, outsourcing seems like an ideal opportunity. Having an in-house team is beneficial in the long run, but the hiring and training process is quite demanding. Consider the technologies to use. Choosing the right ones will simplify maintenance and make your eLearning solution more scalable and ready for improvement.

Final thoughts

In summary, the cost of creating an eLearning platform depends on two key factors: the functionality you want and the model of collaboration with your development team. Your software should have essential features that are standard to all products in this industry and unique features that will become the highlights for users. The developers you work with must have experience developing similar products and knowledge of all the technologies required.

We hope this article has helped you calculate the cost of developing eLearning websites and optimize your efforts.

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