The global private tutoring market was valued at USD 92.30 billion in 2021. During the projection period, it is expected to increase at a CAGR of 8.6%. The advantages of private tutoring during the epidemic, rising urbanisation, and increased competitiveness among students are all factors driving market expansion. It gives one-on-one academic support to kids from non-traditional schools or groups.
Students may manage academics with fewer distractions, raise intrinsic motivation, and increase efficiency by tailoring a personalised strategic plan and sticking to it. One of the main factors driving market expansion is rapid urbanisation mixed with the growing trend of personalised learning.
Individualized and adaptive microlearning is gaining popularity because it provides learners with short, relevant content that solves knowledge gaps. In addition, rising rivalry among youngsters for admission to renowned schools will almost probably have an impact on the total private tutoring industry in the future.
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As their money rises, parents enrol their children in private tuition to suit their children’s educational needs. As a result, parents are increasingly investing in their children’s education, such as private tutoring or elementary school tutoring, which is becoming a major trend in the worldwide education system.
Furthermore, during the projected period, the market would be driven by strategic alliances among major players. For example, in February 2021, Vedantu, an e-learning platform, stated that it had paid an undisclosed sum for Instasolv, a question-answering app for kids in classes 6 to 12 for science and mathematics IITJEE and NEET.
According to the company, the acquisition would strengthen its presence in Tier 2 and Tier 3 markets and boost its doubt-resolution skills. However, higher expenses associated with private coaching, which are unaffordable in low-income countries, are limiting market expansion throughout the projection period.
Industry Changes
Major players are working on delivering tailored learning solutions to help pupils. They are also concentrating on boosting private education investment, which will aid market growth over the projection period. Varsity Tutors, for example, one of the country’s largest stations for live online tutoring and classrooms, launched a new portfolio of technologies in August 2021 to help school districts deal with disruptions and learning loss caused by the COVID-19 epidemic.
The new releases build on the company’s existing services for colleges, but they focus on providing instant learning support to help students deal with the year’s problems. In January 2021, Nerdy, Varsity Tutors’ parent company, confirmed a partnership with TPG Pace Tech Opportunities, a public businesses specific purpose acquisition company linked with global private equity firm TPG.
Mentornaut, an online tutoring service, also announced a €200,000 (about USD 217,000) financing round from Angels Network EstBAN in November 2021. The service is being implemented in Kenya to increase online learning participation.
Report Segmentation
By Type:
● Academic Training
● Sports Training
● Art Training
● Others
By Application:
● 4-12 Years Old
● 13-21 Years Old
● Others
The following are some of the companies highlighted in this report:
● New Oriental
● TAL Education
● Xueda Education
● American Tutor
● TutorZ
● Chegg.com
With strategic analysis, micro and macro market trend and scenarios, pricing analysis, and a holistic picture of the market conditions in the forecast period, the Private Tutoring Market research report keeps a close eye on major rivals. It’s a thorough research that focuses on key and secondary drivers, market share, leading segments, and geographic analysis. The paper also examines significant players, major collaborations, mergers and acquisitions, as well as current innovation and corporate strategies.
Stakeholders and industry participants will gain the following benefits:
• The report looks at the industry’s drivers, limitations, and possibilities.
• Market performance from a neutral standpoint
• Trends and advancements in the industry recently
• Key players’ strategy and the competitive landscape
• Potential and niche categories, as well as regions with promising growth prospects, are covered.
• In terms of revenue, historical, current, and forecast market sizes
• An in-depth examination of the market for private tutoring
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