Private Tutoring Market Size to Hit USD 171.93 Billion by 2030 | At 8.3% CAGR
Key Companies Covered in Private Tutoring Market are Chegg, Inc. (Santa Clara, U.S.), Ambow Education Holding Ltd. (Beijing, China), TAL Education Group (Beijing, China), Mathnasium LLC (Los Angeles, U.S.), Educomp Solutions Ltd. (Gurgaon, India), Sylvan Learning, LLC (Baltimore, U.S.), Daekyo Co., Ltd. (Seoul, South Korea), Kumon Institute of Education Co., Ltd. (Tokyo, Japan), Kaplan Inc. (New York, U.S.), Action Tutoring (London, U.K.), and more players profiled.
Pune, India , Aug. 21, 2023 (GLOBE NEWSWIRE) — The global private tutoring market size was valued at USD 98.15 Billion in 2021 and is expected to reach USD 171.93 billion by 2028, exhibiting a CAGR of 8.3% during the forecast period and the requisite for higher education in developing countries will subsequently improve the prospects of private tutoring.
Fortune Business Insights™ published this information in a report, titled “Private Tutoring Market Size, Share & COVID-19 Impact Analysis, and Regional Forecast, 2023-2028.” The market size stood at USD 92.59 billion in 2020.
The occurrence of coronavirus has exerted massive economic stress on sectors in various countries. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling, and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
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List of Key Players Profiled in the Private Tutoring Market Report:
- Chegg, Inc. (Santa Clara, U.S.)
- Ambow Education Holding Ltd. (Beijing, China)
- TAL Education Group (Beijing, China)
- Mathnasium LLC (Los Angeles, U.S.)
- Educomp Solutions Ltd. (Gurgaon, India)
- Sylvan Learning, LLC (Baltimore, U.S.)
- Daekyo Co., Ltd. (Seoul, South Korea)
- Kumon Institute of Education Co., Ltd. (Tokyo, Japan)
- Kaplan Inc. (New York, U.S.)
- Action Tutoring (London, U.K.)
Report Scope & Segmentation:
|2028 Value Projection||USD 171.93 Billion|
|Market Size in 2021||USD 98.15 Billion|
|No. of Pages||160|
|Report Coverage||Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends|
|Private Tutoring Growth Drivers||Rising Level of Competition among Students to Increase the Need|
|Increasing Spending on Education by Wealthy Parents to Support Private Tutoring Market Growth|
Browse Detailed Summary of Research Report with TOC:
Advancements in technology have paved the way for a revolution in education, and the private tutoring market is no exception. Online tutoring platforms have gained traction, enabling students to connect with tutors regardless of geographical constraints. Interactive whiteboards, video conferencing tools, and digital resources have transformed the virtual tutoring experience into an engaging and effective alternative to in-person sessions.
The report on the private tutoring market depicts:
- Prominent understanding of the market
- Swot Analysis of the regions
- Latest market trends and developments
- Stellar insights into the competitive landscape
- Prime data about regional players
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Increasing Participants in Competitive Exams to Incite Growth
The increasing competition among students has resulted in high demand for private tutoring, which will boost market growth. The rising difficulty in level entrance exams by renowned schools or universities can create lucrative opportunities for this market. As per the Global Education Census Report 2018 published in November 2018 by Cambridge Assessment International Education, about 4 in 10 surveyed students (43%) had received private tuition outside the school worldwide, wherein in China, it accounted for more than 5 in 10 observed students (57%), followed by India (55%), and 1 in 10 students in the U.S. Furthermore, the increasing expectations of parents for high marks in academics from their children will accelerate the growth of the market. Besides, raising consciousness regarding learning in developing nations will simultaneously enable the speedy expansion of the market.
Remote Teaching to Amplify Growth During Coronavirus
The temporary closure of education institutes due to the pandemic has adversely impacted the education industry. As per the article, ’The Impact of the Covid-19 Pandemic on Education Financing’, published in May 2020 by World Bank Group, the real growth in education spending per capita in all countries, as per downside forecast, was estimated to decline at a rate of -5.7% in 2020. However, the shift towards online education will consequently stabilize the market amid COVID-19. Besides, the growing popularity of online learning due to its convenience will boost the private tutoring market’s growth.
Surging Demand for Coaching Classes to Augment Growth in Asia Pacific
The market in Asia Pacific is expected to hold the largest private tutoring market share during the forecast period. The growth is attributed to coaching classes’ popularity primarily in China, Japan, South Korea, and Southeast Asian nations. In May 2020, the press release of Yonhap News Agency reported the results of an annual survey conducted by the National Statistics Korea and the Ministry of Gender Equality and Family. It was reported that, in 2019, about ¾th of the students received private tutoring in South Korea, wherein students spent, on an average, 6.5 hours/week for this tutoring. Also, the increasing middle-class population is likely to spur business opportunities for the market in Asia Pacific.
The COVID-19 pandemic further accelerated the shift toward online education and remote learning, impacting the private tutoring market. Many tutoring services had to adapt to the new online environment to continue serving students.
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Key Industry Developments:
September 2019: Chegg, Inc., an American education technology company based in Santa Clara, California, announced that it has acquired Thinkful, an online learning platform offering professional courses in America.
Detailed Table of Contents:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Emerging Trends
- Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Impact of COVID-19 on the Education Sector
- Global Private Tutoring Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Mode (Value)
- By Subjects (Value)
- By Application (Value)
- Up-to K-12
- Post K-12
- By Region (Value)
- North America
- Asia Pacific
- South America
- Middle East & Africa
- By Mode (Value)
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