LONDON–(BUSINESS WIRE)–Technavio has been monitoring the online tutoring services market in US and it is poised to grow by USD 12.81 bn 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.
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Frequently Asked Questions:
What are the major trends in the market?
Technological advances and virtual learning is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 9.12% and the incremental growth of the market is anticipated to be $ 12.81 bn.
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 some of the major market participants.
What is the key market driver?
The flexibility offered by online tutoring is one of the major factors driving the market.
How big is the Test Prep Service market?
The Test Prep Service region will contribute 64% of the market share.
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. The flexibility offered by online tutoring will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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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 growth in US 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 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$
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