Online Tutoring Services Market Size Poised To Reach USD 23.73 Billion By 2030

 San Francisco, 3 Oct 2023: The Report Online Tutoring Services Market Size, Share & Trends Analysis Report By Tutoring Type, By Course Type (Language, STEM), By Duration, By Tutoring Style, By End-user, By Region, And Segment Forecasts, 2023 - 2030

The global online tutoring services market size is expected to reach USD 23.73 billion by 2030, growing at a CAGR of 14.9% from 2023 to 2030, according to a report published by Grand View Research, Inc. Online tutoring refers to the process of tutoring in an online, networked, or virtual environment where learners and tutors are present virtually. It has gained popularity with the ever-increasing use of internet services worldwide. Increased internet data transfer speed has enabled tutors and learners to engage online simultaneously.

Furthermore, the rapid adoption of smartphones is one of the significant factors driving the adoption of online teaching services worldwide as it enables learning to take place regardless of geographic location. For instance, in January 2022, MyCaptain, an online mentorship platform, raised USD 3 million in a new round of funding headed by Ankur Capital. The funds raised will be used to expand the company's course offerings, recruit more users, and increase its team with an eye toward expansion.

Furthermore, schools, universities, and other learning institutes have been encouraged to follow distance education and work remotely with their students amid the COVID-19 pandemic. The adoption of distance learning owing to the outbreak of the pandemic has impacted the industry’s growth favorably. For instance, in January 2023, Waterbury Public Schools, a school district based in Waterbury, Connecticut, partnered with Varsity Tutors, a Nerdy Inc. company.

The acquisition aims to deliver each district’s students free 24/7 live-chat academic support and essay review services. Thus, online tutoring service providers have positively leveraged the pandemic situation as educational institutes have been closed in many states and countries. For instance, in November 2021, Unacademy, an Indian multinational learning platform, acquired Swiflearn, an e-learning platform that provides live virtual tuitions for school children for an undisclosed fee. The company's acquisition is part of a larger plan to strengthen its position in the K-12 market and expand its product offerings.  

The market has benefitted from the onset of analytical applications to customize tutoring services. For instance, in August 2021, Acellus Corporation, an online school platform for K-12 students, offered its online program for independent study to the Wilsona district in California, which would provide personalized learning according to the requirement of the learners.

For another instance, in February 2022, Paper, an online tutoring company, raised USD 270 million in a Series D fundraising round, owing to increased demand for academic intervention in American schools. According to the business, the new funding will be used to partner with a growing number of innovative educational systems to level the playing field for all students. This trend of growing customization in tutoring services is anticipated to trigger market growth owing to the formative assessment features of these services.

Access Research Report of Online Tutoring Services Market @ https://www.grandviewresearch.com/industry-analysis/online-tutoring-services-market

Online Tutoring Services Market Report Highlights

• The increasing adoption of mobile phones and tablets by students and parents has led to the impulsive growth of mobile learning methods
• The structured tutoring segment is anticipated to register a significant CAGR over the forecast period owing to the growing prominence of live teaching sessions via videoconferencing
• The Science, Technology, Engineering, and Mathematics (STEM) courses segment dominated the market in 2022. STEM in higher education prepares students to think critically and creates professionals that can perform across scientific disciplines to solve complex problems
• The long-term courses segment dominated the market in 2022. The coronavirus outbreak has carried vast opportunities for long-term courses in the online tutoring services market
• The subject tutoring segment dominated the market in 2022. Subject tutoring is a one-of-a-kind way to augment the classroom in a tailored, private setting where students can learn at their own pace
• The K-12 segment dominated the market in 2022 owing to the growing significance of STEM education among students globally
• North America dominated the market and accounted for the largest share of the global revenue in 2022, owing to the availability of an enormous client base and well-established ICT solution providers

Online Tutoring Services Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 8.97 billion
Revenue forecast in 2030	USD 23.73 billion
Growth rate	CAGR of 14.9% from 2023 to 2030
Base year for estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

List of Key Players in the Online Tutoring Services Market

• Ambow Education
• ArborBridge
• Beijing Magic Ears Technology Co., Ltd
• BYJU'S
• Chegg Inc.
• Club Z! Inc.
• iTutorGroup
• Qkids Teacher
• Varsity Tutors
• com

Access Press Release of Online Tutoring Services Market @ https://www.grandviewresearch.com/press-release/global-online-tutoring-services-market