SAN FRANCISCO, June 29, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Private Tutoring – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 18; Released: April 2021
Executive Engagements: 3854
Companies: 100 – Players covered include Ambow Education Holding Ltd.; A Plus-All Subjects Tutoring, Inc.; Building Educated Leaders For Life; C2 Education Centers, Inc.; Chegg, Inc.; Club Z!, Inc.; Daekyo Co., Ltd.; Educomp Solutions Ltd.; Fleet Education Services Limited; Huntington Learning Centers, Inc.; JEI Learning Centers; Kaplan, Inc.; Kumon Institute of Education Co., Ltd.; Mandarin House; Mathnasium LLC; New Oriental Education and Technology Group; Sylvan Learning Inc.; The Princeton Review; TAL Education Group; Tutor Doctor; Tutor.com, Inc.; TutorMe.com, Inc.; Tutoring Club, Inc.; Tutors in China; Varsity Tutors LLC; Xueda Education Group; ZGS Bildungs-GmbH and Others.
Coverage: All major geographies and key segments
Segments: Type (Blended, Online); End-Use (College Students, High School Students, Middle School Students, Primary School Students, Preschool Children)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Greece; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Africa.
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Global Private Tutoring Market to Reach $201.8 Billion by 2026
Private tutoring is one of the most widely adopted learning methodologies with the aim of enhancing a student’s overall academic performance. Ever-rising population, increasing need for education, growing number of schools, colleges, and universities, and subsequent rise in student admissions across the world and growing competition and need to excel continue to drive the demand for private tutoring. Continuous developments is also being witnessed in the areas of adult learning, as seen in the increased participation and diversification of tertiary education as well as wider prevalence of attaining education through distance learning. Rising employment opportunities in the high-tech, manufacturing, and medical sectors are resulting in growing demand for certification courses. With the entry of numerous private schools, there has been an increase in competition among schools to improve academic performance, as a result of which there is strong demand for private tutoring. A growing number of schools are investing in e-learning tools and technologies to enhance their teaching experience.
Amid the COVID-19 crisis, the global market for Private Tutoring estimated at US$123.8 Billion in the year 2020, is projected to reach a revised size of US$201.8 Billion by 2026, growing at a CAGR of 8.4% over the analysis period. Blended, one of the segments analyzed in the report, is projected to record 4.4% CAGR and reach US$81 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Online segment is readjusted to a revised 11.5% CAGR for the next 7-year period. Online tutoring is emerging as a popular form of private tuitions for students across the world, largely due to the convenience and multi-utility features of the medium. The increasing number of nuclear households and growing number of dual income families implies that parents find little time to spend on their children’s education. The need for supplemental education is also increasing in view of the intensifying competition faced by students in gaining entrance into schools and colleges of their choice. Also, the COVID-19 pandemic resulted in unprecedented surge in adoption of online/ remote classes. Parents are increasingly turning to online tutors to keep their children motivated and help them get one-on-one attention.
The U.S. Market is Estimated at $24.9 Billion in 2021, While China is Forecast to Reach $56.5 Billion by 2026
The Private Tutoring market in the U.S. is estimated at US$24.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$56.5 Billion by the year 2026 trailing a CAGR of 10.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.1% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR. Popularity of supplementary education is on rise in both advanced as well as developing countries. In most countries competitive entrance examinations are critical for gaining admission into leading universities and colleges. Another factor driving the private tutoring industry is the growing student population in schools and colleges and lack of adequate funding and teaching staff, especially in in developing countries, which compels students to seek additional knowledge and competence through private tuitions. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Global Industry Analysts, Inc.
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SOURCE Global Industry Analysts, Inc.