0
0 Private Tutoring Market to Grow at a CAGR of 9.91% During 2024-2032; Strong Presence of Supplementary Coaching Classes to Drive Asia Pacific Market Growth
Private Tutoring Market Report Overview
According to Fortune Business Insights, the global private tutoring market was valued at USD 57.92 billion in 2023 and is projected to grow to USD 62.08 billion in 2024, eventually reaching USD 132.21 billion by 2032. This reflects a robust CAGR of 9.91% over the forecast period. In 2023, Asia Pacific held the largest share of the market, accounting for 58.63%.
The growing emphasis on literacy and education is a key factor fueling the expansion of the private tutoring sector. In particular, the rise of digital learning tools—such as interactive presentations, animations, 3D visual aids, and flashcards—is accelerating the adoption of online tutoring, further driving market growth.
Key Industry Development
- April 2023: Chegg Inc., a California, U.S.-based education technology company, launched CheggMate, its Artificial Intelligence-based assistance application for students.
- September 2022: com, a New York, U.S.-based online tutoring company, launched LEO (Learner Engagements Online). This institutional tutoring platform provides actionable analytics and scheduling tools for institutions and students that centralize 24/7 academic support services.
Request FREE Sample PDF Copy: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/private-tutoring-market-104753
List of Key Players Present in the Report:
- Chegg, Inc. (U.S.)
- Mathnasium LLC (U.S.)
- Educomp Solutions Ltd. (India)
- Sylvan Learning, LLC (U.S.)
- Daekyo Co., Ltd. (South Korea)
- Kumon Institute of Education Co., Ltd. (Japan)
- Kaplan Inc. (U.S.)
- Action Tutoring (U.K.)
- Varsity Tutors (U.S.)
- Tutors International (U.K.)
Segments
Growing Popularity of Classroom Tutoring to Aid Offline Segment Growth
By mode, the market is segmented into offline and online. The offline mode segment is projected to hold a major private tutoring market share during the forecast period. The growth is attributed to the high popularity of group tutoring, classroom tutoring, or home tutoring over the years.
Rising Parental Pressures on School Children to Augment Up-to K-12 Segment Growth
Based on application, the market is divided into up-to K-12 and post k-12. The up-to K-12 segment is dominating the segment. The increasing pressure from parents on children in 10 to 12 age groups due to their busy schedules and long working hours increases the demand for private tutors, driving segment growth.
Academic Subjects Segment to Grow Due to Increasing Need to Pass Examinations
By subject, the market is bifurcated into academic and non-academic. The academic segment is expected to gain significant market share as students seek extra tutoring to pass examinations and also to score in difficult-to-learn subjects.
Long-Term Courses Segment to Grow Due to High Efficiency for Under-Resourced Students
Based on duration analysis, the market is categorized into short-term courses and long-term courses. The long-term courses segment is expected to gain significant private tutoring market share due to the higher efficiency for under-resourced students. The long-term courses provide students with continuous developments in learning methods.
Rising Popularity of Adaptive and Individualized Microlearning to Propel Subject Tutoring Service Segment
By tutoring styles, the market is segmented into test preparation services and subject tutoring services. The subject tutoring service segment is expected to experience significant growth during the forecast period. The growth is attributed to the rising popularity of individualized and adaptive microlearning among students.
Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Drivers & Restraints
Increased Spending on Education by Wealthy Parents to Drive Market Growth
The decreasing quality of the public school-based education system has shifted the focus of wealthy parents toward private tutors and schools. Parents in the developed nations are increasingly spending more on education to support their children, further propelling the private tutoring market growth during the projected period.
However, concerns, such as confusion created owing to different teaching methods of a school teacher and a coaching class for the same subject, are expected to hamper market growth.
Regional Insights
Strong Presence of Supplementary Coaching Classes to Drive Market Growth in Asia Pacific
Asia Pacific held the largest market share and stood at USD 31.19 billion in 2022. The growth is attributed to the strong presence of supplementary coaching classes in countries, such as South Korea, Japan, and Southeast Asian countries.
North America is estimated to hold a significant market due to the rising penetration of online tutoring services and increasing initiatives for advanced tutoring services in the region.
To get to know more about the Private Tutoring Market, please visit: https://www.fortunebusinessinsights.com/private-tutoring-market-104753
Competitive Landscape
Increasing Key Players Focus on New Tutoring Centers Launches to Propel Market Growth
The increasing adoption of competitive strategies, such as launching new tutoring centers, by key players to gain a competitive edge is estimated to drive the private tutoring sector’s growth during the forecast period. For instance, in February 2022, BYJU’S, an educational technology company, launched 500 offline tutoring centers across 200 cities.
Report Coverage
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
