By IPO Edge Editorial
QuantaSing Group Ltd (NASDAQ: QSG) was acknowledged as the largest online individual adult learning service provider in China in terms of 2022 revenue, according to Frost & Sullivan’s Industry Report.
The company was also recognized as the largest service provider in China’s online financial learning market in terms of revenue for 2022.
China’s adult learning industry in terms of revenue had a market size of RMB576.2 billion ($78.9 billion) in 2022 and is expected to increase to RMB1,043.2 billion in 2027, representing a CAGR of 12.6% from 2022 to 2027, the report stated. This growth is due to Chinese adults’ increasing disposable income and their growing need for personal development, the report said.
The market in China is heading towards wider course offerings, an expanded targeted audience to adults of all ages, better access to learning materials, and higher average sales per customer, the report said. The market for individual adult personal interest learning will grow at a CAGR of 14.1% from 2022 to 2027, the report stated.
“Our focus on delivering exceptional value to our learners has translated into significant financial success,” said Mr. Peng Li, the company’s Chairman and CEO. “QuantaSing’s industry leadership underscores our dedication to not only transforming the learning landscape, but also driving tangible results.”