Online tutoring market to grow by 15.03% Y-O-Y from 2022 to 2023: Growing Importance of STEM Education will Drive Growth - Technavio
NEW YORK, Dec. 6, 2022 /PRNewswire/ --
Online tutoring market insights -
Vendors: 15+, Including Ambow Education Holding Ltd., ArborBridge LLC, China Distance Education Holdings Ltd., Club Z Inc., D2L Corp., Fleet Education Services Ltd., Growing Stars Inc., iTutorGroup Ltd., John Wiley and Sons Inc., My Tutorweb Ltd., New Oriental Education and Technology Group Inc., Nuevo Agora Centro De Estudios SL, Pearson Plc, Preply Inc, Stride Inc., among others
Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
In 2017, the online tutoring market was valued at USD 88.07 billion. From a regional perspective, APAC held the largest market share, valued at USD 36.65 billion. The online tutoring marketsize is estimated to grow by USD 196.35 billion from 2022 to 2027 at a CAGR of 15.38% according to Technavio.
Online tutoring market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines ?
The global online tutoring market is fragmented. The market is witnessing the entry of many enterprises and startups, which is expected to further increase the fragmentation during the forecast period. Both international and regional players prevail in the market, including the ones with diverse service portfolios and single-solution providers. All these vendors play a critical role in the development of global digital education systems. International players are focusing on growing inorganically by acquiring regional or local players. This market's competitive environment will intensify further during the forecast period, with an increase in product or service extensions, technological innovations, and M&As. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including -
Ambow Education Holding Ltd. - The company offers online tutoring such as K-12 educational services.
ArborBridge LLC - The company offers online tutoring for SAT and ACT coaching.
China Distance Education Holdings Ltd. - The company offers online tutoring for accounting, healthcare, engineering, and construction.
Online tutoring market - Market Dynamics
Major Drivers:
Growing importance of STEM education
Strong global demand for test preparation
Increasing focus on language learning
Key Challenges:
Threat from open-source and private tutoring
Difficulties in developing and distributing digital content
Data security and privacy issues in the online tutoring industry
The online tutoring market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
What are the key data covered in this online tutoring market report?
CAGR of the market during the forecast period.
Detailed information on factors that will drive the growth of the market between 2023 and 2027
Precise estimation of the online tutoring market size and its contribution to the parent market.
Accurate predictions about upcoming trends and changes in consumer behavior.
Growth of the market industry across APAC, Europe, North America, South America, and the Middle East and Africa.
Thorough analysis of the market's competitive landscape and detailed information about vendors.
Comprehensive analysis of factors that will challenge the growth of online tutoring market vendors.
Related Reports:
The predicted growth for the digital education content market size from 2021 to 2026 is USD 47.10 billion at a progressing CAGR of 11.94%. The rapid penetration of internet-enabled devices is notably driving the digital education content market growth, although factors such as increased availability of open educational resources may impede the market growth.
The online education market report is a comprehensive research document that provides in-depth qualitative and quantitative intelligence. Technavio's analysts estimate the market size growth of USD 148.22 billion from 2022 to 2027, at a CAGR of 9.49%. The Standardization of tests is notably driving the online education market growth, although factors such as inadequate cybersecurity measures may impede the market growth.
Online Tutoring Market Scope
Report Coverage
Details
Page number
166
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 15.38%
Market growth 2023-2027
USD 196.35 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
15.03
Regional analysis
APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution
APAC at 47%
Key countries
US, China, Japan, India, Germany, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Ambow Education Holding Ltd., ArborBridge LLC, China Distance Education Holdings Ltd., Club Z Inc., D2L Corp., Fleet Education Services Ltd., Growing Stars Inc., iTutorGroup Ltd., John Wiley and Sons Inc., My Tutorweb Ltd., New Oriental Education and Technology Group Inc., Nuevo Agora Centro De Estudios SL, Pearson Plc, Preply Inc, Stride Inc., Sylvan Learning LLC, TAL Education Group, Think and Learn Pvt. Ltd., Varsity Tutors LLC, 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.
Table of contents:
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Courses
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Platform
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global online tutoring market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on Global online tutoring market 2017 - 2021 ($ billion)
Exhibit 173: Validation techniques employed for market sizing
Exhibit 174: Information sources
13.5 List of abbreviations
Exhibit 175: List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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