PUBLISHER: Grand View Research | PRODUCT CODE: 1404855
PUBLISHER: Grand View Research | PRODUCT CODE: 1404855
The global private tutoring market size is expected to reach USD 154.8 billion by 2030, registering a CAGR of 6.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Parental emphasis on academic and non-academic excellence is propelling the market, responding to the intensifying competitive environment is a driving force behind the rising demand in the market.
The extensive variety of services offered by private tutors is a prominent driver in the market. Their offerings include one-to-one doubt clearing, pre-exam practice tests, and in-depth coverage of fundamental concepts. These features attract parents and students, fostering a global demand for such services. Also, the financial capacity of parents plays a significant role in fueling the demand for private tutoring services. With the willingness and ability to invest in their children's education, parents can provide the additional resources needed to enhance academic performance. This may include hiring private tutors to supplement classroom learning and boost their children's chances of academic success.
A major driving force behind the market in the US is the growing need for academic assistance. As students face intensified competition for admission to esteemed universities and lucrative careers, academic expectations are soaring. Private tutors offer students the additional support necessary to excel academically and realize their ambitions.
Since the COVID-19 pandemic, a rapid surge in the adoption of online learning methods has been witnessed owing to benefits such as improved focus, convenience, and cost-effectiveness. The market is expected to demonstrate considerable growth over the forecast period owing to the massive adoption of these services by school students and corporate professionals. Furthermore, online learning enables both learners and tutors to enhance their productivity and efficiency.
The partnerships and collaborations among mobile app developers and content providers have led to the introduction of smart learning solutions. For instance, in November 2021, Vedantu, one of the prominent companies offering online tutoring and LIVE online learning, collaborated with the visual communications platform Canva to create India's first-ever design challenge. Both companies intend to celebrate the creativity, curiosity, and discovery of children and teachers all across the country through this collaboration.