Online Tutoring Services Market: Current Analysis and Forecast (2021-2027)
Emphasis on Type (Structured Tutoring, On-Demand Tutoring); Course Type (Language Courses, Science-Technology-Engineering & Mathematics Courses, Other); Duration (Short-Term Courses, Long-Term Courses); Region/Country
The Global Online Tutoring Services is Expected to Display an Elevated CAGR of ~13% over the forecast period (2021-2027)
A rise in smartphone adoption across the globe is one of the prominent reasons driving the market of online tutoring services. The key factor attributed to the growing adoption of smartphones is a surge in the end user’s disposable income. Rising purchasing power in developing countries such as Australia, EU, Mexico, Brazil, India, Thailand, and China is projected to allow consumers to spend more on smart devices. As per OCED, the household spending in Canada, China, Denmark, European Union, France, and Germany reached to 1,021,459.5, 9,241,095.5, 139,229.8, 10,785,281.3, 1,561,879.9 and 2,288,541.1 US$ million, respectively.
The online tutoring services market is uplifting on account of the emerging demand from generations Y and Z. Moreover, the adoption of smart devices such as phones, tablets, and laptops are also adding pace to the growth of the market. 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 provides a platform for introducing new products in the future
Also, proliferating internet penetration across the globe coupled with the uplifting 5G technology adoption is leading to the growth of the online tutoring services market. As per Statista, as of January 2021, there were 4.66 billion active internet users worldwide – 59.5 percent of the global population. Of this total, 92.6 percent (4.32 billion) accessed the internet via mobile devices. Moreover, GSMA revealed that there will be around 1.8 billion 5G connections by 2025
Global Internet Penetration, By Selected Regions, 2021
Ambow Education, ArborBridge, Beijing Magic Ears Technology Co., Ltd, BYJU’S, Chegg Inc., Club z! Inc., iTutorGroup, Qkids Teacher, Varsity Tutors, Vedantu.com, etc. are some of the prominent players operating in the Online Tutoring Services market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Type, On-Demand Tutoring segment holds the major share”
Based on the type, the market is fragmented into Structured Tutoring and On-Demand Tutoring. The on-demand tutoring segment captured the major market share and dominated the market. The market of this segment is witnessing an uptick owing to the goring demand from professionals and school-going children. Moreover, the COVID 19 pandemic acted as a growth catalyst to the market due to the online classes and closure of schools. However, the structure tutoring would witness a significant CAGR in the forthcoming years as well.
“Amongst Course Type, Science, Technology, Engineering, and Mathematics (STEM) segment to grab considerable market share”
Based on course type, the market is fragmented into Language Courses, Science, Technology, Engineering, and Mathematics (STEM) Courses, and others. Science, Technology, Engineering, and Mathematics (STEM) grabbed the major market share and dominated the market. The key factors attributed to the growth of this segment are the emerging demand from the students, online classes conduct by schools, and the government’s support. In December 2018, The STEM Education Strategic Plan was launched in the United States on a vision for a future where all Americans will have lifelong access to high-quality STEM education
“Amongst Duration, Long-Term Courses segment holds the major share”
Based on duration, the market is fragmented into Short-Term Courses and Long-Term Courses. The loin-term courses captured XX% market share and donated the market because long-term courses enable the learners to gain in-depth knowledge about the reskilling course and deliver higher efficiency. However, the short-term courses would proliferate with the robust CAGR during the forthcoming years weeping to the offering of numerous crash courses, introductory courses by the players.
“North America represents one of the largest markets of Online Tutoring Services market”
For a better understanding of the market dynamics of the Online Tutoring Services market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the availability of Online Tutoring Services providers in abundance and offering of new courses are some of the factors that are contributing to the growth of the market.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
Customization Options:
The Online Tutoring Services Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Online Tutoring Services Market were the three major steps undertaken to create and analyze the demand for Online Tutoring Services across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Online Tutoring Services market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Online Tutoring Services through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Online Tutoring Services market, we conducted a detailed secondary analysis to gather historical market insights and share for type, course type, the duration for major regions. Major segments included in the report are product type, ingredients, form, and consumer group. Further region and country-level analyses were conducted to evaluate the overall adoption of Online Tutoring Services across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Online Tutoring Services. Further, we conducted factor analysis using dependent and independent variables such as the lockdown due to COVID 19, rising smartphone adoption, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Online Tutoring Services industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Online Tutoring Services market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Online Tutoring Services across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Online Tutoring Services market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Online Tutoring Services market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of type, course type, and duration of the Online Tutoring Services market.
Main Objective of the Online Tutoring Services Market Study
The current & future market trends of Online Tutoring Services were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Online Tutoring Services in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, course type, and duration
- Define and analysis of the regulatory framework for the Online Tutoring Services industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Online Tutoring Services market for the major countries
- The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
- Company profiles of the Online Tutoring Services market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry
Related Reports
Customers who bought this item also bought
Emotion Detection and Recognition Market: Current Analysis and Forecast (2021-2027)
Emphasis on Technology (Feature Extraction & 3D Modeling, Biosensors, Natural Learning Processing (NLP), and Others); Software Tools (Facial Expression & Emotion Recognition, Gesture & Posture Recognition, Voice Recognition); Application Area (Marketing & Advertising, Law Enforcement, Surveillance & Monitoring, Entertainment & Consumer Electronics, Others); Region/Country.
November 15, 2022
Generative AI Cybersecurity Market: Current Analysis and Forecast (2024-2032)
Emphasis on Deployment (On-Premise, Cloud-Based, Hybrid); Technology (Generative Adversarial Networks (GANs), Variational Autoencoders (VAEs), Reinforcement Learning (RL), Deep Neural Networks (DNNs), Natural Language Processing (NLP), Others); Application (Network Security, Endpoint Security, Cloud Security, Application Security, Others); End-User (Banking, Financial Services, And Insurance (BFSI), Healthcare, Retail, IT & Telecom, Government and Defense, Energy and Utilities, and Others); and Region/Country
November 4, 2024
