The market for private tutoring surpassed USD 90 billion in 2020 and is expected to grow at a CAGR of over 5% from 2022 to 2028. The increasing number of students taking competitive tests such as engineering and medical entrance exams, which results in heightened competitiveness, will boost industrial expansion. The desire for cost-effective solutions that address students’ knowledge gaps is increasing in private tutoring.
The coronavirus (COVID-19) outbreak has severely slowed economic activity in FY2020. During the lockdown period, schools and institutions utilised remote learning practises, creating a demand for online tailored tutoring services. Furthermore, in developing and underdeveloped nations such as Latin America and Africa, rising purchasing power and awareness of the need of education are boosting market demand. However, the epidemic had a negative impact on offline private teaching.
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In the United States, the subscription-based payment model offers significant development potential.
The subscription-based payment market in the United States is expected to increase at a 10% annual pace through 2028, as end users prefer it since it is less expensive and offers more features than the pay-per-hour payment method. Extra lectures, one-on-one doubt clearing sessions, and a disproportionately large number of model tests are among the benefits that the players provide to pupils. Furthermore, during the forecast period, the pay per hour model is predicted to increase at an exponential rate, as it is favoured by students who require tutoring services to better understand a certain topic but are not interested in enrolling in a full tutoring programme.
In India, supportive government attempts to supplement K-12 education
India’s K-12 children’ education private tutoring sector is expected to contribute for roughly 30% of revenue in 2020. The government is promoting learning technology and additional coaching programmes in order to enhance the education business. Government-funded projects and educational strategic advancements are assisting the region’s market development. In India, for example, the education sector has been allocated USD 12,580.49 million for the year 2021, with USD 7,405.06 million for school education and literacy and USD 5,175.29 million for higher education. Smartphone adoption, increased disposable income, and improved ICT infrastructure are just a few of the drivers driving up market revenue.
Personalized learning is gaining popularity in North America for STEM (Science, Technology, Engineering, and Mathematics) education
Due to the increased availability of customised courses, the North American private tutoring market is expected to grow at a nearly 11% CAGR from 2022 to 2028. Students can improve based on their abilities thanks to a personalised platform provided by industry participants. The government’s increasing investment in STEM education is assisting the market player in introducing tailored private tutoring courses. In 2020, the US Department of Education will award approximately USD 141 million in new grants and USD 437 million to continue STEM education initiatives that are on track to meet their objectives.
Industry players use strategic acquisitions and collaborations as a significant strategy
Key private tutoring market participants include BYJU’S, Club Z! Inc., Chegg, ETutor, TutorGroup, John Wiley & Sons Inc., Kaplan, Khan Academy, Pearson Plc, Preply, Revolution Prep, Skooli, Tal Group, Tutor ME, Varisty tutors, Vedanta Innovations Pvt. Ltd, and Wyzant.
Companies are concentrating on acquisitions and collaborations in order to expand their global presence and provide students with technologically sophisticated tutoring services. For example, Vedantu Innovations Pvt. Ltd. purchased Instasolv, a company that specialises in clarifying doubts for middle and high school students, in February 2021. This acquisition will assist Vedantu boost its doubt-clearing capabilities and increase its footprint in India’s Tier II and Tier III cities. It will also aid the growth of private tutoring services in smaller towns where the education industry struggles to find qualified teachers.
This market research study on private tutoring covers the industry in full, with revenue estimates and forecasts in USD for the following segments from 2022 to 2028:
Market, By Type
● Curriculum-based learning
● Test preparation
Market, By Application
● K-12 students
● Higher education
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