Online Tutoring Market:
The online tutoring market is expected to grow from $1.3 billion in 2019 to $1.53 billion in 2020 at a compound annual growth rate (CAGR) of 18.0%. The growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing led to the closure of schools and colleges and increased demand for online tutoring. The market is then expected to grow and reach $2.38 billion in 2023 at a CAGR of 15.7%.
The online tutoring market consists of sales of online tutoring services and related products by entities (organizations, sole traders and partnerships) that provide online tutoring services. Online tutoring is the tutoring process in a digital, interactive, or connected environment wherein teachers and students are in different geographical locations.
The Asia Pacific was the largest region in the online tutoring market in 2019.
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In April 2019, Zovio, a US-based education technology services company, acquired TutorMe for an undisclosed amount. This acquisition will support the new strategy of Zovio and also provides a platform for introducing new products in the future. TutorMe is a US-based prominent online tutoring provider that uses artificial intelligence for providing students with virtual whiteboards, screen sharing, video chat and others.
The online tutoring market covered in this report is segmented by type into STEM courses; language courses; other courses and by application into k-12; college students; in-service education; others.
The lack of connectivity in third world countries and some of the emerging economies is expected to negatively impact the growth of the market. Connectivity issues within developing countries and communities with low income are expected to impact broadband connectivity, hence negatively impacting the growth of the market. According to a survey conducted by Quacquarelli Symonds in April 2020, 53% of respondents in India using home broadband face poor connectivity and 32% face signal problems, 40.2% of respondents using mobile data face low communication, and 56.6% face signal/network issues. Therefore, the lack of connectivity in third world countries and some of the emerging economies is expected to limit the growth of the online tutoring market.
Companies in the online tutoring market are increasingly investing in trends such as gamification for better user engagement. Gamification in e-learning and online tutoring is expected to inspire a game-like reaction and engagement among learners. This results in improved information retention, motivation and increased productivity. For instance, in June 2020, Byju’s, an India-based educational technology and online tutoring company, introduced Disney BYJU’S Early Learn app for Android and iOS, which involves gamification strategies. Other online tutoring companies such as Class Dojo and rainscape have also invested in gamification.
The increasing demand for e-learning due to the impact of COVID-19 is driving the growth of the online tutoring market. COVID-19 has resulted in the closure of schools around the world. As a result, education has changed dramatically, with a marked rise in e-learning and online tutoring taking place remotely and through online platforms. For example, Byju’s, an India-based educational technology and online tutoring company, announced free live classes on its Think and Learn app and saw an increase in the number of new students using its product by 200%. Therefore, the increasing demand for e-learning is expected to drive the growth of the online tutoring market.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Major players in the online tutoring market are Vedantu Innovations Pvt. Ltd., China Distance Education Holdings Ltd., Chegg, BYJU’S, Embibe, Khan Academy, TutStu Education, Club Z! Inc., iTutorGroup and New Oriental Education & Technology Group.
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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