LONDON--(BUSINESS WIRE)--The online tutoring services market in the US is expected to grow by USD 12.81 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Low-income families in the US struggle around the high cost of higher education. In addition, students are required to take numerous technical certifications to find employment. This has encouraged the US Department of Education to launch experimental sites that open a platform for virtual learning and online tutoring. These online tutoring services allows institutions to provide financial aid to students by designing and testing new approaches. This in turn, provides students a flexible path to academic and career success. These tutoring platforms assist students in determining their area of interest and availing tutoring services at an affordable price. Thus, the flexibility offered by online tutoring will boost the growth of the online tutoring services market during the forecast period.
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As per Technavio, technological advances and virtual learning will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Online Tutoring Services Market in the US: Technological Advances and Virtual Learning
Many institutions are deploying virtual learning to provide education to students. Virtual learning uses computer software and can be accessed over the internet. This eliminates the trend for labor-intensive tutoring method by eliminating the need for teachers and students to share the classroom. Service providers or online tutors can avoid traveling to different places and deliver lectures through the internet conveniently. Health impaired students and homeschoolers are exceedingly benefited from this mode of learning. Furthermore, technological advancements such as augmented reality (AR), interactive whiteboards (IWBs), and virtual reality (VR) are improving the quality of online tutoring services in the US. Thus, with technological advances and virtual learning, the market for online tutoring services is expected to showcase a positive outlook during the forecast period.
“Increase in tutoring support for test preparation services is another major factor that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Online Tutoring Services Market in the US: Segmentation Analysis
This market research report segments the online tutoring services market in the US by product (test preparation service and subject tutoring service) and end-user (higher education institutes and K-12 schools).
The test preparation service segment led the market in 2019. During the forecast period, the test preparation service segment is expected to maintain its dominance over the global market. This is due to the increasing number of students taking standard exams in the US such as Law School Admission Testing Program (LSAT), Optometry Admission Testing Program (OAT), and Graduate Record Examinations (GRE), and others.
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Some of the key topics covered in the report include:
- Test preparation service
- Subject tutoring service
- Higher education institutes
- K-12 schools
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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