November 22, 2022
Technavio Survey Shows Online Tutoring Market Size to Grow by USD 196.35 billion
A According to a Technavio study, the online tutoring market will grow at a CAGR of 15.38% between 2022 and 2027. The market is expected to grow by USD 196.35 billion, owing to a variety of factors such as the increasing importance of STEM education, strong global demand for test preparation, and a greater emphasis on language learning.
The Technavio report goes into great detail about market segmentation by geography. It also includes a thorough examination of the drivers, trends, and challenges. The report also includes historical market data from 2017 to 2021.
Technavio calculated the global education market size in its survey based on the combined revenue generated by manufacturers/providers of equipment, software, teaching materials, solutions, and services. External factors influencing parent market growth during the forecast period have been extensively covered in our research report.
…the growing importance of STEM education among students, parents, and other educational stakeholders worldwide is a major driver of market growth...
The growing importance of STEM education, according to Technavio's survey, is the primary factor driving the global online tutoring market growth. The growing importance of STEM education among students, parents, and other educational stakeholders worldwide is a major driver of market growth.
STEM education is a curriculum that focuses on four distinct disciplines: science, technology, engineering, and mathematics.
Apps and wearables for online tutoring will drive the growth of the global online tutoring market. Some of the most recent market trends include advanced technologies such as mobile apps and wearables. The use of virtual reality (VR) in tutoring creates a one-of-a-kind experience for students. Tutors are enhancing their teaching sessions with various mobile apps in addition to using VR in online lessons. The proliferation of smartphones, combined with increasing Internet penetration, is driving up demand for mobile learning apps. In addition, virtual reality devices and smartwatches are expected to be the most popular technologies in virtual classrooms.
The global online tutoring market faces a serious threat from open-source and private tutoring even though steady growth is predicted. The availability of free and open-source tutoring resources poses a significant threat to market growth. Paid tutoring programmes are offered by online tutoring businesses like Ambow Education, China Distance Education, and iTutorGroup.
At the same time, several open-source online tutoring companies provide free tutoring programmes. Therefore, if a customer cannot afford to use a paid online tutoring service, they will turn to the free services provided by various open-source tutoring companies.
Posted in News and tagged News, Online Tutoring Market Size, Technavio Study, STEM Education, Virtual Reality, Virtual Classrooms
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