The Fortune Business Insights market report attributes the growth to the accelerated transition to online education and remote learning during the pandemic.
The Fortune Business Insights market report attributes the growth to the accelerated transition to online education and remote learning during the pandemic.
The global private tutoring market is expected to expand significantly to reach $171.93 billion by 2028, according to a report by Fortune Business Insights. This growth is projected to be driven by a compound annual growth rate of 8.3 percent during the forecast period. The global private tutoring market was previously valued at $98.15 billion in 2021.
The report “Private Tutoring Market Size, Share & COVID-19 Impact Analysis, and Regional Forecast, 2023-2028” said that the COVID-19 pandemic accelerated the transition to online education and remote learning, significantly impacting the private tutoring market. To continue serving students, many tutoring services had to adapt to the new online environment, the report added.
Technological advancements have brought about a transformative shift in the field of education, and the private tutoring sector is no different. The rise of online tutoring platforms is a prime example of this evolution, allowing students to access tutors regardless of their location, the think tank said.
Through tools like interactive whiteboards, video conferencing, and digital resources, virtual tutoring has become an engaging and successful substitute for traditional in-person sessions, the research said. The intense competition among students has also led to a surge in demand for private tutoring, driving market growth, according to Fortune Business Insights.
According to the Global Education Census Report 2018 by Cambridge Assessment International Education, 43 percent of surveyed students globally received private tuition, with China (57 percent) and India (55 percent) leading the trend.
Parental aspirations for academic excellence and increasing educational awareness in developing nations are also propelling the market’s rapid expansion, it said.
Meanwhile, the report “The Impact of the Covid-19 Pandemic on Education Financing,” released by the World Bank Group in May 2020, indicated that education spending per capita was projected to decline by -5.7 percent in 2020 due to the pandemic.
However, the pivot to online education is expected to provide stability to the market during COVID-19. The increasing preference for online learning due to its convenience is also anticipated to further propel the growth of the private tutoring market.
Major players in the private tutoring market are Chegg, Inc. (Santa Clara, US), Ambow Education Holding Ltd. (Beijing, China), TAL Education Group (Beijing, China), Mathnasium LLC (Los Angeles, US), Educomp Solutions Ltd. (Gurgaon, India), Sylvan Learning, LLC (Baltimore, US), Daekyo Co., Ltd. (Seoul, South Korea), Kumon Institute of Education Co., Ltd. (Tokyo, Japan), Kaplan Inc. (New York, US.), Action Tutoring (London, UK).
