New York, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Online Tutoring Global Market Report 2022" - https://www.reportlinker.com/p06228497/?utm_source=GNW
, ArborBridge Inc., Tutor Eye Inc., Varsity Tutors, ThoughtCo., GradeStack Learning Pvt. Ltd. and Fleet Education Services.
The global online tutoring market is expected to grow from $6.98 billion in 2021 to $8.17 billion in 2022 at a compound annual growth rate (CAGR) of 16.9%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The market is expected to reach $14.76 billion in 2026 at a CAGR of 15.9%.
The online tutoring market consists of sales of online tutoring services and related products by entities (organizations, sole traders and partnerships) that provide online tutoring services. Online tutoring is the tutoring process in a digital, interactive, or connected environment wherein teachers and students are in different geographical locations.
The main types of online tutoring are STEM courses, language courses, other courses.STEM courses cover the four major disciplines of Science, Technology, Engineering, and Mathematics.
The services are used by K-12, college students, in-service education, others that are sold through various sales channel including private coaching, international organizations and associations, educational institutes and others.
Companies in the online tutoring market are increasingly investing in trends such as gamification for better user engagement.Gamification in e-learning and online tutoring is expected to inspire a game-like reaction and engagement among learners.
This results in improved information retention, motivation and increased productivity.For instance, in June 2020, Byju’s, an India-based educational technology and online tutoring company, introduced Disney BYJU’S Early Learn app for Android and iOS, which involves gamification strategies.
Other online tutoring companies such as Class Dojo and rainscape have also invested in gamification.
The increasing demand for e-learning due to the impact of COVID-19 is driving the growth of the online tutoring market.COVID-19 has resulted in the closure of schools around the world.
As a result, education has changed dramatically, with a marked rise in e-learning and online tutoring taking ple remotely and through online platforms.For example, Byju’s, an India-based educational technology and online tutoring company, announced free live classes on its Think and Learn app and saw an increase in the number of new students using its product by 200%.
Therefore, the increasing demand for e-learning is expected to drive the growth of the online tutoring market.
The lack of connectivity in third world countries and some of the emerging economies is expected to negatively impact the growth of the market.Connectivity issues within developing countries and communities with low income are expected to impact broadband connectivity, hence negatively impacting the growth of the market.
According to a survey conducted by Quacquarelli Symonds in April 2020, 53% of respondents in India using home broadband face poor connectivity and 32% face signal problems, 40.2% of respondents using mobile data face low communication, and 56.6% face signal/network issues. Therefore, the lack of connectivity in third world countries and some of the emerging economies is expected to limit the growth of the online tutoring 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 also provides a platform for introducing new products in the future.
TutorMe is a US-based prominent online tutoring provider that uses artificial intelligence for providing students with virtual whiteboards, screen sharing, video chat and others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the online tutoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06228497/?utm_source=GNW
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