Online Tutoring Services Market: Current Analysis and Forecast (2023-2030)
Emphasis on Tutoring Type (Structured and On-Demand); Course Type (Language, Science-Technology-Engineering & Mathematics, and Other); Course Duration (Short-Term, Long-Term); Region/Country
The Global Online Tutoring Services is expected to grow at a strong CAGR of around 14% during the forecast period (2023-2030). Online Tutoring Service gives guidance in an arranged, virtual, or web-based setting where understudies and mentors are genuinely present. The far-reaching utilization of internet providers has expanded its prominence. Coaches and understudies can now interface online simultaneously on account of quicker web information moves. Factors such as higher speed, persistent growth and development of the Internet, and massive improvements in the technology and communication industry are increasing the demand for online classes. A rise in internet penetration globally coupled with the adoption of smart devices such as laptops, phones, and tablets are leading to the growth of the market. The launch of numerous mobile applications such as Brainly, Learn Next, unacademy, etc., are also adding pace to the growth of the market.
Some of the major players operating in the market are ArborBridge; Beijing Magic Ears Technology Co., Ltd; BYJU’S; Chegg Inc.; Club Z! Inc.; The Climber Knowledge; Qkids Teacher; Varsity Tutors; Vedantu.com, Khan Academy; etc. Several M&As along with partnerships have been undertaken by these players to develop Online Tutoring Services across the globe.. Several M&As along with partnerships have been undertaken by these players to develop Online Tutoring Services across the globe.
Insights Presented in the Report
“Amongst course type, Science-Technology-Engineering & Mathematics (STEM) grabbed the major market share in 2022”
Based on course type, the market is fragmented into Language, Science-Technology-Engineering and mathematics (STEM), and others. Science-Technology-Engineering & Mathematics (STEM) grabbed the major market share in 2022. This is mainly because STEM fields continue to evolve and advance, and there is a concurrent increase in the number of students seeking guidance and support in these subjects. Online tutoring services offer a convenient and accessible way for students to receive personalized instruction and mentorship from experienced educators, regardless of their location or schedule. For instance, in January 2022, more than 40 million students in over 500 cities around the world were impacted by STEM courses offered by Vedantu, an interactive online learning platform.
“Amongst Course duration, long-term courses captured a large market share and donated to the market”
Based on course duration, the market is fragmented into short-term and long-term. The long-term courses captured a large market share and donated to the market because long-term courses enable the learners to gain in-depth knowledge about the reskilling course and deliver higher efficiency. Additionally, the students can build a strong foundation in any specific field, which creates new career opportunities and advancement prospects. Thus, the benefit of learning and enhancement in shaping one’s future can be made from long-term course online tutoring services.
Online Tutoring Services Market Report Coverage
“North America constitutes a major market for the online tutoring services market industry and generated maximum revenue in 2022”
North America constitutes a major market for the online tutoring services market industry and will generate maximum revenue in 2022. This is mainly due to the rise of technology; people are becoming more comfortable with online tutoring systems. Additionally, the cost-effective feature has made it more affordable for everyone. Hiring a private tutor can be expensive, but online tutoring services often offer affordable rates compared to traditional tutoring methods. Many online tutoring platforms offer free trials or discounts for new customers, making them even more appealing. Furthermore, Online tutoring allows for flexible scheduling, enabling students to receive support at times that suit their busy lifestyles. This flexibility is particularly beneficial for working professionals, stay-at-home parents, and individuals with disabilities. Hence, such factors increase the use of online tutoring services market in the North America Region.
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
Research Methodology for the Online Tutoring Services Market Analysis (2023-2030)
Analyzing the historical market, estimation 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 in 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 tutoring type, course type, and course duration for major regions. Major segments included in the report are tutoring type, course type, and course duration. 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 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 were applied to arrive at the market forecast for 2030 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 revenue (USD) 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 for each segment and sub-segment of the online tutoring services market. Data was split into several segments sub-segments after studying various parameters and trends in the areas of tutoring type, course type, and course 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 on investments from the qualitative and quantitative analysis performed in the study. Current and future market trends 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 tutoring type, course type, course 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
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