New York 24 December 2018, as per the new research study conducted by Planet Market Reports, Online Tutoring industry is poised to raise USD XX billion by 2025.
A large number of companies are investing in startups offering online tutoring services that are powered with modern technologies such as Artificial Intelligence(AI). For instance, Quizlet, a user-generated consumer learning platform received significant funding, that aided in developing AI products and increasing their applicability to the global market. Several investors for this platform included Icon Ventures, Union Square Ventures, Costanoa Ventures, Owl Ventures, and Altos Ventures.
The major driving factor of global Online Tutoring are increasing adult population with need for education, increasing awareness associated Online tutoring and favorable support from government which contributes more in development as well as rising the demand of Online Tutoring which boosting the market growth. Untapped opportunities from emerging countries creating significant opportunity in the Online Tutoring market across the region over the coming years. However, the major restraining factor of global Online Tutoring is limited internet availability and unbalanced demand and supply of online tutors which causing restriction in the market growth of Online Tutoring. Online tutoring offers various benefits such as flexible scheduling, affordable with ease on budget, saves communicating time, multiple choices of tutors and periodic tracking of students academic progress. The major trend which is currently flowing in the market which increasing market growth is growing emphasis on analytics. North America is the leading region across the world in terms of market growth.
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Online Tutoring Size study, by Courses (STEM, Language, Others) and by Regional Forecasts 2018-2025 the industry is seeming to be competitive. Some of the leading market players include Club Z Tutoring, Fleet Education Services, Pearson ELT, ArborBridge, BechPrep, EF Education First, Kaplan, Knewton, Revolution Prep., Sylvan Learning and so on. The fierce competitiveness has made these players spend in product development to improve the customers requirements.
Key findings of the study:
- The North American region accounted for the significant market share, more than XX% of the total market in 2016.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation, the region is likely to grow by XX% CAGR over the forecast period 2018-2025
- Planet Market Reports has considered following segments for the study:
- North America
- Asia Pacific
- Latin America
- Rest of the World
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