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Online Tutoring Market Key Trends, Latest Insights, Future Trends And Forecast To 2033
Online Tutoring Market
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According to The Business Research Company's, The online tutoring market size has grown rapidly in recent years. It will grow from $9.68 billion in 2023 to $11.15 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to globalization of education, increased academic competition, busy lifestyles and time constraints, customized learning paths, access to specialized expertise.
The online tutoring market size is expected to see rapid growth in the next few years. It will grow to $20.07 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The growth in the forecast period can be attributed to continued emphasis on academic excellence, remote learning and hybrid education models, rise in homeschooling practices, global skill development initiatives, adaptation to individual learning styles. Major trends in the forecast period include data-driven personalization, emergence of ai-powered tutors, flexible scheduling and accessibility, parental involvement features, integration with e-learning platforms.
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Market Drivers and Trends:
The increasing demand for e-learning due to the impact of COVID-19 is driving the growth of the online tutoring market. COVID-19 has resulted in the closure of schools around the world. As a result, education has changed dramatically, with a marked rise in e-learning and online tutoring taking place remotely and through online platforms. For example, Byju's, an India-based educational technology and online tutoring company, announced free live classes on its Think and Learn app and saw an increase in the number of new students using its product by 200%. Therefore, the increasing demand for e-learning is expected to drive the growth of the online tutoring market.
Companies in the online tutoring market are increasingly investing in trends such as gamification for better user engagement. Gamification in e-learning and online tutoring is expected to inspire a game-like reaction and engagement among learners. This results in improved information retention, motivation, and increased productivity. For instance, in September 2022, Tutor.com, a US-based online tutoring company launched Learner Engagements Online (LEO), an institutional tutoring platform designed to consolidate 24/7 academic assistance for students, as well as tools for scheduling and actionable statistics for institutions. Other online tutoring companies such as Class Dojo and rainscape have also invested in gamification.
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Major Key Players of the Market:
Beijing Magic Ears Technology Co. Ltd., Pearson plc, New Oriental Education & Technology Group Inc., China Distance Education Holdings Ltd., TAL Education Group, Think and Learn Pvt. Ltd., Chegg Inc., Wyzant Inc., Varsity Tutors LLC, Club Z Inc., Skillshare Inc., GradeStack Learning Pvt. Ltd., Simplilearn Solutions Pvt. Ltd., Cambly Inc., Teachable Inc., Preply Inc., Ambow Education Holding Ltd., Khan Academy Inc., iTutorGroup Inc., Tutor Eye Inc., ArborBridge Inc., Vedantu Innovations Pvt. Ltd., TutStu Education, Thought Co., Fleet Education Services Ltd., Structured Tutoring, On-demand Tutoring, Qkids Teacher, TutorMe LLC., Tabtor Math Inc.
Online Tutoring Market 2024 Key Insights:
• The online tutoring market size is expected to see rapid growth in the next few years. It will grow to $20.07 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%.
• E-Learning Surge How Covid-19 Transformed Education And Fueled The Online Tutoring Market
• Elevating Learning Experiences Online Tutoring Companies Embrace Gamification Trends For Enhanced User Engagement
• Western Europe was the largest region in the online tutoring market in 2023
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