Online Tutoring Services Market to be Worth $23.73 Billion by 2030: Grand View Research, Inc.

Rhea-AI Summary

The online tutoring services market is projected to reach USD 23.73 billion by 2030, with a CAGR of 14.9% from 2023 to 2030, according to a report by Grand View Research. The growth is driven by increased adoption of mobile technology and online learning amid the COVID-19 pandemic. Key segments include STEM courses, which dominated in 2022, and a rise in demand for long-term courses. North America accounted for the largest market share in 2022. The report emphasizes the importance of distance learning adaptations and technological advancements, such as personalized tutoring services, as crucial factors in this growth.

Positive

• Projected market size of USD 23.73 billion by 2030 indicates strong growth potential.
• CAGR of 14.9% from 2023 to 2030 suggests a robust expansion trajectory.
• Increased demand for STEM courses reflects positive market trends.
• North America led the market in 2022, showcasing a strong client base and established ICT providers.

Negative

• None.

SAN FRANCISCO, March 13, 2023 /PRNewswire/ -- The global online tutoring services market size is expected to reach USD 23.73 billion by 2030, growing at a CAGR of 14.9% from 2023 to 2030, according to a report published by Grand View Research, Inc. Online tutoring refers to the process of tutoring in an online, networked, or virtual environment where learners and tutors are present virtually. It has gained popularity with the ever-increasing use of internet services worldwide. Increased internet data transfer speed has enabled tutors and learners to engage online simultaneously.

Key Industry Insights & Findings from the report:

• The increasing adoption of mobile phones and tablets by students and parents has led to the impulsive growth of mobile learning methods.

• The structured tutoring segment is anticipated to register a significant CAGR over the forecast period owing to the growing prominence of live teaching sessions via videoconferencing.

• The Science, Technology, Engineering, and Mathematics (STEM) courses segment dominated the market in 2022. STEM in higher education prepares students to think critically and creates professionals that can perform across scientific disciplines to solve complex problems.

• The long-term courses segment dominated the market in 2022. The coronavirus outbreak has carried vast opportunities for long-term courses in the online tutoring services market.

• The subject tutoring segment dominated the market in 2022. Subject tutoring is a one-of-a-kind way to augment the classroom in a tailored, private setting where students can learn at their own pace.

• The K-12 segment dominated the market in 2022 owing to the growing significance of STEM education among students globally.
• North America dominated the market and accounted for the largest share of the global revenue in 2022, owing to the availability of an enormous client base and well-established ICT solution providers.

Read full market research report for more latest industry insights, "Online Tutoring Services Market Size, Share & Trends Analysis Report By Tutoring Type, By Course Type (Language, STEM), By Duration, By Tutoring Style, By End-user, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Online Tutoring Services Market Growth & Trends

The rapid adoption of smartphones is one of the significant factors driving the adoption of online teaching services worldwide as it enables learning to take place regardless of geographic location. For instance, in January 2022, MyCaptain, an online mentorship platform, raised USD 3 million in a new round of funding headed by Ankur Capital. The funds raised will be used to expand the company's course offerings, recruit more users, and increase its team with an eye toward expansion.

Furthermore, schools, universities, and other learning institutes have been encouraged to follow distance education and work remotely with their students amid the COVID-19 pandemic. The adoption of distance learning owing to the outbreak of the pandemic has impacted the industry's growth favourably. For instance, in January 2023, Waterbury Public Schools, a school district based in Waterbury, Connecticut, partnered with Varsity Tutors, a Nerdy Inc. company.

The acquisition aims to deliver each district's students free 24/7 live-chat academic support and essay review services. Thus, online tutoring service providers have positively leveraged the pandemic situation as educational institutes have been closed in many states and countries. For instance, in November 2021, Unacademy, an Indian multinational learning platform, acquired Swiflearn, an e-learning platform that provides live virtual tuitions for school children for an undisclosed fee. The company's acquisition is part of a larger plan to strengthen its position in the K-12 market and expand its product offerings. 

The market has benefitted from the onset of analytical applications to customize tutoring services. For instance, in August 2021, Acellus Corporation, an online school platform for K-12 students, offered its online program for independent study to the Wilsona district in California, which would provide personalized learning according to the requirement of the learners.

For another instance, in February 2022, Paper, an online tutoring company, raised USD 270 million in a Series D fundraising round, owing to increased demand for academic intervention in American schools. According to the business, the new funding will be used to partner with a growing number of innovative educational systems to level the playing field for all students. This trend of growing customization in tutoring services is anticipated to trigger market growth owing to the formative assessment features of these services.

Online Tutoring Services Market Segmentation

Grand View Research has segmented the global online tutoring services market based on tutoring type, course type, duration, tutoring style, end-user, and region:

Online Tutoring Services Market - Tutoring Type Outlook (Revenue, USD Million, 2017 - 2030)

• Structured Tutoring
• On-demand Tutoring

Online Tutoring Services Market - Course Type Outlook (Revenue, USD Million, 2017 - 2030)

• Language Courses
• Science, Technology, Engineering, And Mathematics (STEM) Courses
• Others

Online Tutoring Services Market - Duration Outlook (Revenue, USD Million, 2017 - 2030)

• Short-term Courses
• Long-term Courses

Online Tutoring Services Market - Tutoring Style Outlook (Revenue, USD Million, 2017 - 2030)

• Test Preparation Service
• Subject Tutoring Service
• Remediation
• Maintenance
• Support
• Enrichment
• Online Tutoring Services Market - End-user Outlook (Revenue, USD Million, 2017 - 2030)
• K-12
• Higher Education
• Others
• Online Tutoring Services Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• • U.K.
  • Germany
  • France
• Asia Pacific
• • China
  • Japan
  • India
• South America
• • Brazil
• Middle East & Africa (MEA)
  
  

List of Key Players in the Online Tutoring Services Market

• Ambow Education
• ArborBridge
• Beijing Magic Ears Technology Co., Ltd
• BYJU'S
• Chegg Inc.
• Club Z! Inc.
• iTutorGroup
• Qkids Teacher
• Varsity Tutors
• Vedantu.com

Check out more related studies published by Grand View Research:

• Digital Education Market - The global digital education market size is expected to reach USD 77.23 billion by 2028. The market is anticipated to register a CAGR of 30.5% from 2021 to 2028. The education industry has witnessed a paradigm shift from conventional exam-oriented learning to personalized and interactive learning in recent years. As digitization continues to penetrate the education industry, the latest technologies and new and creative techniques are being used to deliver knowledge and educational content, thereby transforming learning and development into a lifelong process. Looking forward to the future, digital education is predicted to benefit several beneficiaries across various geographies, demographics, ages, and socioeconomic conditions.
• Smart Education And Learning Market - The global smart education and learning market size is expected to reach USD 680.1 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to witness a CAGR of 17.9% from 2020 to 2027. Demand for smart education and learning solutions is increasing among the growing population in corporate and academic sectors, owing to benefits such as improved education quality and easy access to educational content. Increasing adoption of consumer electronics, such as smartphones, e-readers, laptops, and e-learning applications, has altered conventional education methodology and has enhanced the efficiency of an individual to learn. Additionally, there are enormous opportunities for advancements in the market, owing to improved internet accessibility.
• Technical And Vocational Education Market - The global technical and vocational education market size is anticipated to reach USD 1.43 trillion by 2030, according to a new report by Grand View Research, Inc. The industry is expected to expand at a CAGR of 9.8% from 2022 to 2030. The increasing use of technology in education and the rising demand for job-relevant skills in various sectors are expected to propel industry growth. Technical and vocational education provides support services for the educational sectors that are both instructional and non-instructional. The widespread use of the internet has demonstrated that e-education continues to proliferate and has a lot of untapped potential that could alter the industry's performance.

Browse through Grand View Research's  Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.