Pune, July 05, 2024 (GLOBE NEWSWIRE) -- Online Tutoring Services Market Analysis:
“As per the SNS Insider Research, The Online Tutoring Services Market size was estimated at US$ 8.84 Billion in 2023 and is projected to reach at US$ 30.15 Billion by 2032 with a growing CAGR of 14.6% Over the Forecast Period of 2024-2032.”
Market Overview
The online tutoring services market is growing due to technological advancements, particularly in portable communication devices and connectivity, further drive the adoption of online learning. Governments in developing countries are focusing on digital education initiatives, encouraging schools and universities to embrace online learning sessions. Governments also provide free portals for tutorials. The indian government launched neat 2.0, an ai-driven online platform designed to offer personalized learning experiences to students, regardless of their geographical location. Online tutoring services growing because they give access to students with the ability to learn from anywhere at any time.
The students are shifting towards online learning because today's generation is very tech-friendly, after the covid-19 pandemic people are shifting toward online learning platforms and have become familiar with the advantages of virtual getting the hang of, making web-based mentoring administrations a characteristic expansion of this pattern. On 18 feb 2024, the physics wallah hosted a live session for test preparation for a record-breaking 127,000 indian teenagers.
The new hampshire's department of education and tutor.com expanding their free online tutoring program highlight a trend of increased adoption of such services within the k-12 education sector. This could potentially influence other states or regions to consider similar initiatives, impacting the market.
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Key Players Analysis Listed in this Report are:
- Chegg Inc.
- Varsity Tutors
- Ambow Education
- Khan Academy
- BYJU'S
- Vedant
- iTutorGroup
- Tutor.com
- WizIQ
- Qkids Teacher
- Beijing Magic Ears Technology Co., Ltd
- Club Z! Inc.
- ArborBridg
- Toppr
- EdX
- Coursera
- TutorMe
- Udemy
- LinkedIn Learning
- Other Players
Online Tutoring Services Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 8.84 Bn |
| Market Size by 2032 | US$ 30.15 Bn |
| CAGR | CAGR of 14.6% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • Increased Investment in Innovative Teaching Techniques |
Segment Analysis
By Duration
Long Term Courses dominated the market accounting for more than 69% of the market share in 2023 due to their in-depth knowledge and comprehensive skill development offerings. These courses are important for students who looking to improve their skills requiring an understanding of the subject. Long-term courses have proven effective in facilitating learning for students in environments.
The short-term segment is expected to experience significant growth because of the Students Looking for quick skill development or targeted exam preparation find short-term courses to be highly convenient and efficient.
By End-User
Based on end users, the K-12 segment dominates the market, contributing more than 54% of the global revenue. The increasing adoption of microlearning techniques, in which complex subjects are broken down into manageable chunks, has significantly increased the growth of online tutoring services within the K-12 segment. Microlearning caters to the shorter attention spans of younger students and allows for more effective knowledge retention. The rise of customized tutoring solutions specifically designed for K-12 students is attracting a wider audience.
The higher education segment is growing at a significant growth rate. This growth is driven by the increasing awareness of online resources for entrance exam preparation and specialized skill development. Students increasingly turn to online tutoring platforms to gain an edge in competitive entrance exams and improve their employability through targeted skill acquisition.
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Online Tutoring Services Market Key Segmentation:
By Course Type
- Language Course
- Science, Technology, Engineering, And Mathematics (STEM) Courses
- Others
By Duration
- Short-term Courses
- Long-term Courses
By Tutoring Type
- Structured Tutoring
- On-demand Tutoring
By Tutoring Style
- Test Preparation Service
- Subject Tutoring Service
- Remediation
- Maintenance
- Support
- Enrichment
By End-user
- K-12
- Higher Education
- Others
Regional analysis
Due to the presence of well-established technology infrastructure, and major edtech companies. North America region held the dominant share of the global online tutoring services market, contributing more than 34% of the revenue in 2023. The increasing population of potential learners, including students from K-12 through higher education and working professionals Looking to update their skills or reskilling opportunities. The Rising accessibility of solid web availability and high-level innovative apparatuses works with the consistent conveyance and admittance to web-based mentoring administrations. Chegg Inc., Kaplan Inc., and Club Z! Are among the established edtech companies based in North America. Inc., which offers Different web-based coaching arrangements.
The Asia Pacific region is growing with the fastest annual growth rate, in the APAC region increasing demand for accessible and affordable educational solutions from developing Economies India and China.
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Key Takeaways
- The online tutoring services market is growing due to the Increasing demand for flexible, accessible, and personalized learning solutions.
- The growing adoption of smartphones and advancements in educational technology are further driving market growth.
- The K-12 and higher education segments are expected to remain key growth drivers, with a focus on STEM education and entrance exam preparation.
- Geographically, North America and the Asia Pacific region are anticipated to lead the market, driven by different growth factors in each region.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Online Tutoring Services Market Segmentation, By Course Type
8. Online Tutoring Services Market Segmentation, By Tutoring Type
9. Online Tutoring Services Market Segmentation, By Duration
10. Online Tutoring Services Market Segmentation, By Tutoring Style
11. Online Tutoring Services Market Segmentation, By End-user
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
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