K-12 Online Tutoring Market: Overview, Analysis to Expand At 12.5% CAGR Through 2028
The K-12 Online Tutoring Market size is projected to reach USD 84.25 Billion by 2028 from an estimated USD 37.99 Billion in 2021, growing at a CAGR of 12.5% globally.
K-12 is educational technology used in various developed as well as developing countries. It is in the form of microlearning which provides information through videos, audio, infographics, and text. K-12 online tutoring offers a fun and easy way of learning for students; thus, they are becoming a popular educational platform. It is the combination of elementary and secondary education which improves the communication between students and teachers. Thus, their adoption is increased around the world but mostly in the US, Canada, and Europe which supports the growth of the market over the forecast period.
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The K12 online tutoring market is expanding owing to the growing popularity of microlearning. Microlearning is the process of providing information in a way of fun and interactive. It divides the large subject into bite-sized modules which contain games, infographics, and short quizzes. Covid-19 brings a huge change in the K12 online tutoring market. During that time the various restriction of the government includes they closed schools, offices, and other places of entertainment to avoid the spread of viral infections, thus teachers, as well as students, shift to online modes. So, the adoption of K12 online tutoring increased and which propels the growth of the K12 online tutoring market.
The K12 online tutoring has a lucrative opportunity in STEM-related courses owing to growing job opportunities in the STEM fields. Due to growing competition in STEM-related exams, several students adopting online courses and tutoring sessions. Moreover, the growing investment by the government and major key players of various countries in the online tutoring space. For instance, the Chinese government ordered students can continue their academic studies through online platforms since covid-19 which provide a huge opportunity for the K 12 online tutoring market.
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By Type: the high school segment dominates the market growth of the K12 online tutoring market over the forecast period. High school students aged between 14-18 so they have a better understanding of the subject, situation, and environment. In high school students have to decide their future path or field.
By Application: the STEM courses segment anticipated the highest growth in the K-12 online tutoring market during the forecasted period. STEM stands for Science, Technology, Engineering, and Mathematics.
• Primary School
• Junior High School
• High School
• English Courses
• STEM Courses
• Language Courses
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Regional Analysis of K-12 Online Tutoring Market
Asia Pacific region is the leading region in the K12 online tutoring market during the forecasted period. According to a statistic, India has 1.46 million K-12 schools and 230 million kids registered in the modern K-12 education model. In this region, the high birth rate in countries like India, and China shows a high customer base. India has the largest adolescent population in the world, 253 million, and every fifth person is between 10 to 19 years old. The rise in the number of students and an increasing number of students taking online education is propelling the growth of the market. Additionally, the increasing penetration of the internet is expected to support the development of the K12 online tutoring market. The rural and semi-developed area in this region has the availability of smartphones and the internet which gives boosts the growth of the market.
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
• Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of South America)
Major Key Players Considered in the Market
• Vedantu (India)
• Ambow Education Holding (China)
• Beijing Magic Ears Technology (China)
• Chegg (US)
• Club Z! Inc. (US)
• ITutorGroup (China)
• Stride Inc. (US)
• Pearson Plc (UK)
• Qkids Teacher (China)
• TAL Education Group (China)
• Varsity Tutors (US)
• eTutorWorld (India)
• Khan Academy (US)
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Key Industry Development In The K-12 Online Tutoring Market
In April 2021:Education technology giant Byju's took the biggest step to expand internationally with the launch of a new product namely Byju's Future School that become available in the United States, UK, Brazil, Indonesia, and Mexico next month.
In June 2022:Vedantu launched its first hybrid learning center as techs shed pandemic-induced growth. Edtech unicorn launched its first hybrid learning center in Muzaffarpur, following in on the strategy of other tech startups like Byju's, Unacademy and PhysicsWallah, among others.
Table OF Content
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Application
Chapter 4: Market Landscape
Chapter 5: K12 Online Tutoring Market by Type
To Be Continue……
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