K-12 online tutoring market size to grow by USD 97.66 billion between 2022 and 2027; Growth driven by the growing importance of STEM education – Technavio – Yahoo Finance

NEW YORK, March 3, 2023 /PRNewswire/ — The global K-12 online tutoring market size is estimated to increase by USD 97.66 billion between 2022 and 2027. The market’s growth momentum will be progressing at a CAGR of 12.34% during the forecast period. The market is driven by the growing importance of STEM education. STEM education increases job opportunities for students, which is one of the key reasons driving its demand globally. Basic STEM education is essential in cracking many competitive exams to gain access to higher education institutions. To capitalize on the growing demand for STEM, vendors are offering specialized and customized online tutoring services for STEM education to students. All these factors are driving the growth of the market in focus. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) – Request a Report Sample
Global K-12 Online Tutoring Market – Market Dynamics
Key trend influencing growth – The emergence of learning via mobile devices is identified as the key trend in the market. The rising adoption of smartphones and tablets and the growing number of tech-savvy students have increased the popularity of mobile devices in the education industry. This allows students to gain access to the required content at their convenience. With the rising adoption of smartphones and tablets, vendors are emphasizing the development of K-12 online learning content that can be accessed through mobile devices. This is positively influencing the growth of the global K-12 online tutoring market.
Major challenges hindering growth – The threat from open tutoring resources and private tutoring is a significant challenge hindering growth. The market is replete with a considerable number of open-source tutors that offer free services. There are also numerous private tutors that charge significantly less fee than online K-12 tutoring vendors. Hence, consumers prefer these services instead of spending time on learning programs offered by mainstream vendors. This is reducing the growth potential in the market.
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Global K-12 online tutoring market – Vendor Analysis
The global K-12 online tutoring market is fragmented. The market comprises numerous regional and global players that cater to the requirements of students, schools, colleges, and universities. The vendors are focusing on delivering their products through multiple distribution channels and designing specific products for educational institutions. They are also forming partnerships with technology service providers to enhance their offerings and stay competitive in the market.
A few prominent vendors that offer K-12 online tutoring in the market are
Chegg Inc. – The company offers K-12 online tutoring for subjects such as biology, business, engineering, maths, and science.
Club Z Inc. – The company offers K-12 online tutoring which provides personalized schedules.
D2L Corp. – The company offers K-12 online tutoring through the platform, D2L Brightspace.
Fleet Education Services Ltd. – The company offers K-12 online tutoring for subjects such as Maths, Science, and Humanities.
Global K-12 Online Tutoring Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (structured tutoring and on-demand tutoring) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The market growth in the structured tutoring segment will be significant during the forecast period. Structured tutoring improves the learning experience between students and the tutor as the teaching sessions are conducted online through virtual media. This increases the understanding between tutors and students, increasing the program’s overall effectiveness.
Geography Overview
By geography, the global K-12 online tutoring market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global K-12 online tutoring market.
APAC will account for 52% of the market growth during the forecast period. The rapid adoption of digital education technology in developing countries such as China and India is driving the growth of the K-12 online tutoring market in APAC.
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What are the key data covered in this K-12 online tutoring market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the K-12 online tutoring market between 2023 and 2027
Precise estimation of the size of the K-12 online tutoring market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the K-12 online tutoring market industry across APAC, Europe, North America, South America, and Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of K-12 online tutoring market vendors
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K-12 Online Tutoring Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 12.34%
Market growth 2023-2027
USD 97.66 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
10.98
Regional analysis
APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution
APAC at 52%
Key countries
US, China, India, UK, and Germany, Canada, Mexico, Italy,Spain, India, Japan, Australia,  and South Korea
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Ambow Education Holding Ltd., ArborBridge LLC, Chegg Inc., China Distance Education Holdings Ltd., Club Z Inc., D2L Corp., Fleet Education Services Ltd., Franchise Group Inc., Growing Stars Inc., Instructure Holdings Inc., iTutorGroup Ltd., John Wiley and Sons Inc., New Oriental Education and Technology Group Inc., Nuevo Agora Centro De Estudios SL, Pearson Plc, Stride Inc., TAL Education Group, Think and Learn Pvt. Ltd., Toppr Technologies Pvt. Ltd., 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.
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Table of contents:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global K-12 online tutoring market 2017 – 2021
4.2 Type Segment Analysis 2017 – 2021
4.3 Course Type Segment Analysis 2017 – 2021
4.4 Geography Segment Analysis 2017 – 2021
4.5 Country Segment Analysis 2017 – 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Type
6.1 Market segments
6.2 Comparison by Type
6.3 Structured tutoring – Market size and forecast 2022-2027
6.4 On-demand tutoring – Market size and forecast 2022-2027
6.5 Market opportunity by Type
7 Market Segmentation by Courses
7.1 Market segments
7.2 Comparison by Courses
7.3 Assessments – Market size and forecast 2022-2027
7.4 Subjects – Market size and forecast 2022-2027
7.5 Market opportunity by Courses
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 APAC – Market size and forecast 2022-2027
9.4 Europe – Market size and forecast 2022-2027
9.5 North America – Market size and forecast 2022-2027
9.6 South America – Market size and forecast 2022-2027
9.7 Middle East and Africa – Market size and forecast 2022-2027
9.8 China – Market size and forecast 2022-2027
9.9 US – Market size and forecast 2022-2027
9.10 India – Market size and forecast 2022-2027
9.11 UK – Market size and forecast 2022-2027
9.12 Germany – Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Ambow Education Holding Ltd.
12.4 Chegg Inc.
12.5 Club Z Inc.
12.6 D2L Corp.
12.7 Fleet Education Services Ltd.
12.8 Franchise Group Inc.
12.9 Growing Stars Inc.
12.10 Instructure Holdings Inc.
12.11 iTutorGroup Ltd.
12.12 Nuevo Agora Centro De Estudios SL
12.13 Pearson Plc
12.14 Stride Inc.
12.15 TAL Education Group
12.16 Think and Learn Pvt. Ltd.
12.17 Vedantu Innovations Pvt. Ltd.
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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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