The Growth of the Private Tutoring industry will witness an upward trajectory in the imminent years, on account of the swiftly growing education sector along with the increasing need to closely monitor the progress of students in exams and academic life.
Propelled by environmental and various other personal reasons, lately, students have turned demotivated, further adding to adverse impacts on their performance at school. While grades do not necessarily reflect an individual’s intelligence and knowledge, they still are essential in terms of future choices and outcomes.
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Private tutoring, thus, is garnering widespread popularity on account of its multitude advantages to students, which include a personalized approach & pace, enhanced self-esteem & confidence, and fewer distractions. With the help of private tutors, students can not only prepare for exams but can also work together on subjects they need more guidance and improvement.
Solution providers in the private tutoring market are increasingly eyeing several prominent innovative measures as well as investment strategies to cater to the growing consumer and educational requirements. To cite an instance, in June 2020, Byju’s introduced an online private tutoring program, Byju's Classes to enable students for accessing scheduled online classes from leading teachers while resolving their doubts instantly and seeking one-on-one guidance.
To add further, private skilled tutors possess the abilities to assess each student’s learning needs as well as set the pace that is needed to achieve the desired results. Driven by these advancements, the global private tutoring industry size will exceed USD 140 billion in annual valuation by 2027.
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The online private tutoring industry is anticipated to rise, mainly impelled by its cost-effectiveness in comparison to offline classes. Other than eliminating the travel time for both parties as well as geographical constraints, online platforms offer the perks of personalized learning, schedule flexibility, 24/7 availability, and improved competency. With online tutoring, students can choose their one-on-one online tutor and find higher convenience and comfort during their studies.
The COVID-19 pandemic also proved beneficial for online tutoring considering the abrupt shutdown of educational institutions, helping students secure top-tier grades with enhanced convenience, and accessibility. The increasing number of investments by leading companies will also drive the private tutoring market development. For instance, in February 2020, India’s Vedantu scored $24M for online tutoring services to serve more students and reinforce its brand name.
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The popularity of subscription-based private tutoring services is significantly evolving as it offers personalized work plans where users pay for a certain length of time in opposition to a lifetime fee. This platform can be touted as a more manageable option for multiple learners as it allows them to access all their resources, learning materials, and tools very cost-effectively.
Key participants contributing towards private tutoring market growth include BYJU’S, Club Z! Inc., Chegg, ETutor, TutorGroup, John Wiley & Sons Inc., Kaplan, Khan Academy, Pearson Plc
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