LONDON--(BUSINESS WIRE)--Technavio has been monitoring the online tutoring services market in US and it is poised to grow by USD 12.81 billion during 2020-2024, progressing at a CAGR of over 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low on the online tutoring services market in us. The market growth in 2020 is likely to INCREASE compared to market growth in 2019.
Frequently Asked Questions:
Based on segmentation by product, which is the leading segment in the market?
Test preparation services.
What are the major trends in the market?
Technological advances and virtual learning.
At what rate is the market projected to grow?
The market is projected to grow at a CAGR of over 10% during 2020-2024.
Who are the top players in the market?
ArborBridge Inc., BenchPrep, Chegg Inc., Club Z! Inc., Fleet Education Services Ltd., Graham Holdings Co., Pearson Plc, TutaPoint.com LLC, Tutor.com Inc., and Zovio Inc. are the key players in the market.
What are the key market drivers and challenges?
The market will be driven by the flexibility offered by online tutoring. However, concerns over the lack of personal connection with students might hamper the market growth.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ArborBridge Inc., BenchPrep, Chegg Inc., Club Z! Inc., Fleet Education Services Ltd., Graham Holdings Co., Pearson Plc, TutaPoint.com LLC, Tutor.com Inc., and Zovio Inc. are some of the major market participants. Although the flexibility offered by online tutoring will offer immense growth opportunities, lack of personal connection with students is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this online tutoring services market in US forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Online Tutoring Services Market in US 2020-2024: Segmentation
Online Tutoring Services Market in US is segmented as below:
- Test Preparation Service
- Subject Tutoring Service
- Higher Education Institutes
- K-12 Schools
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Online Tutoring Services Market in US 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The online tutoring services market in US report covers the following areas:
- Online Tutoring Services Market in US Size
- Online Tutoring Services Market in US Trends
- Online Tutoring Services Market in US Industry Analysis
This study identifies technological advances and virtual learning as one of the prime reasons driving the Online Tutoring Services Market in US growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Online Tutoring Services Market in US 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist online tutoring services market growth in US during the next five years
- Estimation of the online tutoring services market size in US and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the online tutoring services market in US
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of online tutoring services market vendors in US
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Test preparation service - Market size and forecast 2019-2024
- Subject tutoring service - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Comparison by End user placement
- Higher education institutes - Market size and forecast 2019-2024
- K-12 schools - Market size and forecast 2019-2024
- Market opportunity by End user
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendor Analysis
- Market positioning of vendors
- ArborBridge Inc.
- Chegg Inc.
- Club Z! Inc.
- Fleet Education Services Ltd.
- Graham Holdings Co.
- Pearson Plc
- TutaPoint.com LLC
- Tutor.com Inc.
- Zovio Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.