1、2Facebook20K-12K-121/22/23研究主题研究方法N/A450112000-2030E2.793.504.195.206.528.1210.022030E2025E2000200520.34%203017.7%53.9%24.5%6.0%7.8%K-12GDP4.5%20177.7%2020K-124.39%: 1. Holon IQ, “Education in 2030”. 7: 1. Euromonitor, 06/2021. .20162022E20025E2023E2021E2024E202020151,1061,3161

2、,4451,8381,5391,0621,1811,2661,2971,6401,7364.08%7.22%1CAGRCAGR+5.43%+3.86%+2.04%+3.33%+4.38%+7.90%+7.90%4.08%7.22%81990 1990 202020202020 2020 2050E2050E/ +640M / +7%+970M / +8%+1,500M / +10%+1,200M / +7%+130M / -5%-180M / -4%-70M / -5%-250M / -5%+190M / -8%-138M / -6%1, 1990-2050E020201

3、990201020002050E2030E2040E15: 1. HolonIQ, “Global Education Technology in 10 Charts”. .9400400未来五年，上市教育企业的数量预计将增加一倍以上102015年数量402020年数量1002025年预计数量200, : 1. HolonIQ, “Global Education Technology in 10 Charts”. .102, 2019-2025E1/21/2Netflix-1Kirill Pyshkin86%科技2, 2019

4、%54%46%B2B*D2C*9%49%42%532736540420192025E20202021E2024E2022E2023E+14.1%Note: D2C means Direct to Consumers (Learners/Parents), B2B means Business to Business (School/University/Enterprise): 1. Credit Suisse, “Education technology. Coronavirus and beyond”. .2. HolonIQ, “Sizing the Global

5、EdTech Market. Model vs Model”. .112/22/22 2ARARVRVRAIAI2 2AI1.812.620182025E沉浸式学习0.86.120182025E自适应学习4.03.54.55.05.52021E2025E201920202022E2023E2024E+0.8: 1. HolonIQ, “Sizing the Global EdTech Market. Model vs Model”. .2. ISTE, “The Hottest Topics in EdTech in 2021”, .12020 05050(Pre-K)/K-12“K12”ST

6、EAMSTEAM/29962831E2022ESTEAMK-20202020- -2022E2022E15教育出海企业广告支出总额，20202020- -2022E2022E百万美元11.813.816.419.423.027.350.162.473.887.3103.2122.133.743.352.964.678.996.411.45.63.52021E2.42.24.85.84.72024E20202.78.26.46.92022E189.97.3226.82023E8.49.7133.34.09.6

7、2025E270.9107.2159.13.1CAGRCAGR2020- -25E25E+20.4%+19.6%+23.4%14.9%19.5%18.3%13.1%20.4%20.4%20202025K-12K-121619.8%17.2%STEAM9.5%17.3%南美地区3.5%6.6%6%K-12APPApp Annie07/202117/APP/APP/APP/APPAI, VR/AR, OCR, ASRAPPK-12STEAMSTEAMK-12, /2017ByjusK-12 2019Oda ClassK-12 2020CodeMonkeySTEAMHelloTalkSTEAMSTE

8、AMK-12 17.9%71.4%10.7%资料来源：艾瑞咨询18(1/2)52%31%15%-1%20%20%2020 10 /26 CRM 80% 80%80%2020 10 18 CRM 42% 42%42%| CRM APICRM 26 CRM CS-BQRT 2020 10 5 2020 11 9 18 CRM 2020 10 5 3-5 58CRMAPICRMCRMAPICRM CRM CRM CRM FacebookFacebook59Facebook Pixel API /Facebook Pixel CRM CRM API API | CRM APIAPI Facebook

9、API Facebook Pixel Facebook 60Facebook CRM API Facebook8%8%68%68%Jason GirdnerTECOBI Facebook Business 2021 4 61MessengerMessengerFacebook 62CRM Facebook 63CRMFacebook CRM Facebook Facebook 64Facebook Facebook HubSpot FacebookGoogle CRM Facebook CRM HubSpot CRM Zapier API API ZapierLeadBridgeHubSpot

10、 API Facebook Facebook Facebook Facebook 65Facebook FacebookFacebook APICRM Facebook API CRM Facebook CRM Facebook 66Facebook Facebook 676869MessengerMessengerMessenger Messenger CRM Messenger Facebook 70FacebookFacebookInstagram Instagram Facebook Instagram Business 71Business Facebook A/B 72Business 73MessengerMessengerMessenger (Click to Messenger Ad)Messenger Messenger Messenger 74A/B 1 1Facebook 2 2A AB BMessenger Messenger A AB B75