Online Tutoring Services means services of teaching provided by companies or teachers to the learners by the electronic medium, from their homes or anywhere other than a specific place for education like school and colleges, similarly, learners get the education from electronic devices by sitting at their home or anywhere, and they do not need to be a specific place for education. The government’s initiatives for digital education, increasing investment by big market players, elimination of geographic constraints, continuous advancement in digital portable devices, availability of both long-term and short-term courses are some factors that are expected for market growth. For Instance: In July 2020, Vedantu.com an Indian online tutoring firm raised USD 100 million in its series D funding round led by Coatue Management, L.L.C. And in India, the Ministry of Human Resource Development has created an online library for students of different academic levels and subject domains. However, factors such as data privacy and security concerns in online tutoring impede the growth of the market over the forecast period of 2020-2027. Also, the increase in demand for short-term diploma courses with an on-demand tutoring patterns is likely to increase the market growth during the forecast period.
Global Online Tutoring Services Market is valued at approximately USD 4.81 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16.1 % over the forecast period 2020-2027 and is estimated to reach USD 15.88 billion by 2027.
The regional analysis of the global Online Tutoring Services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the well-established ICT service providers and availability of a large customer base. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as government-funded education projects in rural areas and the presence of developing economies like India would create lucrative growth prospects for the Online Tutoring Services market across the Asia-Pacific region.
Major market players included in this report are Ambow Education, ArborBridge, Beijing Magic Ears Technology Co., Ltd, BYJU’S, Chegg Inc, Club Z! Inc, iTutorGroup, Qkids Teacher, Varsity Tutors, and Vedantu.com
The detailed segments and sub-segment of the market are explained below:
By Tutoring Type: Structured Tutoring, On-Demand Tutoring
By Course Type: Language Courses, Science, Technology, Engineering, and Mathematics (STEM) Courses, Others
By Duration: Short-Term Courses, Long-Term Courses
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