June 16, 2024

K-12 online tutoring market size to grow by USD 97.66 billion between 2022 and 2027; Growth driven by the growing importance of STEM education

NEW YORK, March 3, 2023 /PRNewswire/ — The global K-12 online tutoring market size is estimated to increase by USD 97.66 billion between 2022 and 2027. The market’s growth momentum will be progressing at a CAGR of 12.34% during the forecast period. The market is driven by the growing importance of STEM education. STEM education increases job opportunities for students, which is one of the key reasons driving its demand globally. Basic STEM education is essential in cracking many competitive exams to gain access to higher education institutions. To capitalize on the growing demand for STEM, vendors are offering specialized and customized online tutoring services for STEM education to students. All these factors are driving the growth of the market in focus. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) – Request a Report Sample

Technavio has announced its latest market research report titled Global K-12 Online Tutoring Market 2023-2027

Technavio has announced its latest market research report titled Global K-12 Online Tutoring Market 2023-2027

Global K-12 Online Tutoring Market – Market Dynamics

Key trend influencing growth – The emergence of learning via mobile devices is identified as the key trend in the market. The rising adoption of smartphones and tablets and the growing number of tech-savvy students have increased the popularity of mobile devices in the education industry. This allows students to gain access to the required content at their convenience. With the rising adoption of smartphones and tablets, vendors are emphasizing the development of K-12 online learning content that can be accessed through mobile devices. This is positively influencing the growth of the global K-12 online tutoring market.

Major challenges hindering growth – The threat from open tutoring resources and private tutoring is a significant challenge hindering growth. The market is replete with a considerable number of open-source tutors that offer free services. There are also numerous private tutors that charge significantly less fee than online K-12 tutoring vendors. Hence, consumers prefer these services instead of spending time on learning programs offered by mainstream vendors. This is reducing the growth potential in the market.

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Global K-12 online tutoring market – Vendor Analysis
The global K-12 online tutoring market is fragmented. The market comprises numerous regional and global players that cater to the requirements of students, schools, colleges, and universities. The vendors are focusing on delivering their products through multiple distribution channels and designing specific products for educational institutions. They are also forming partnerships with technology service providers to enhance their offerings and stay competitive in the market.

A few prominent vendors that offer K-12 online tutoring in the market are

  • Chegg Inc. – The company offers K-12 online tutoring for subjects such as biology, business, engineering, maths, and science.

  • Club Z Inc. – The company offers K-12 online tutoring which provides personalized schedules.

  • D2L Corp. – The company offers K-12 online tutoring through the platform, D2L Brightspace.

  • Fleet Education Services Ltd. – The company offers K-12 online tutoring for subjects such as Maths, Science, and Humanities.

Global K-12 Online Tutoring Market – Segmentation Assessment

Segment Overview
Technavio has segmented the market based on type (structured tutoring and on-demand tutoring) and geography (APAC, Europe, North America, South America, and Middle East and Africa).

  • The market growth in the structured tutoring segment will be significant during the forecast period. Structured tutoring improves the learning experience between students and the tutor as the teaching sessions are conducted online through virtual media. This increases the understanding between tutors and students, increasing the program’s overall effectiveness.

Geography Overview
By geography, the global K-12 online tutoring market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global K-12 online tutoring market.

Get a glance at the market contribution of various segments, historic (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report

What`s New for 2023?

  • Special coverage on the RussiaUkraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

  • Global competitiveness and key competitor positions

  • Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the Report!

What are the key data covered in this K-12 online tutoring market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the K-12 online tutoring market between 2023 and 2027

  • Precise estimation of the size of the K-12 online tutoring market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the K-12 online tutoring market industry across APAC, Europe, North America, South America, and Middle East and Africa

  • A thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of K-12 online tutoring market vendors

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  • The academic e-learning market is estimated to grow at a CAGR of 17.5% between 2022 and 2027. The size of the market is forecast to increase by USD 147.89 billion. The launch of new online degrees is notably driving the market growth, although factors such as high development costs associated with e-learning courses may impede the market growth.

K-12 Online Tutoring Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 12.34%

Market growth 2023-2027

USD 97.66 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.98

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 52%

Key countries

US, China, India, UK, and Germany, Canada, Mexico, Italy,Spain, India, Japan, Australia,  and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Ambow Education Holding Ltd., ArborBridge LLC, Chegg Inc., China Distance Education Holdings Ltd., Club Z Inc., D2L Corp., Fleet Education Services Ltd., Franchise Group Inc., Growing Stars Inc., Instructure Holdings Inc., iTutorGroup Ltd., John Wiley and Sons Inc., New Oriental Education and Technology Group Inc., Nuevo Agora Centro De Estudios SL, Pearson Plc, Stride Inc., TAL Education Group, Think and Learn Pvt. Ltd., Toppr Technologies Pvt. Ltd., and Vedantu Innovations Pvt. Ltd.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Courses

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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Global K-12 Online Tutoring Market 2023-2027

Global K-12 Online Tutoring Market 2023-2027

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