The Global K-12 Online Tutoring Market size is expected to grow from USD 42.74 billion in 2022 to USD 109.66 billion by 2030, at a CAGR of 12.5% during the forecast period (2023-2030).
Market Overview:
K-12 is the terminology used in educational technology in the United States, and possibly other countries. It is referred to as publicly-supported school grades before college. K-12 ensures that the children from kindergarten to 12th grade receive a basic elementary education. K-12 education is a combination of elementary and secondary education that enhances teacher-student communication. The letters K in k-12 stand for kindergarten and 12 stands for 12th grade, respectively. The K-12 educational model encompasses kindergarten, primary, secondary, high school, and pre-university education. The concept of K-12 education is gaining popularity around the world, but it is most popular in the United States, Canada, and Europe. The rising need for the adoption of online tutoring will support the growth of the K -12 online tutoring market over the forecasted period.
Top Key Players for K-12 Online Tutoring Market:
BYJU’S (India), Vedantu (India), Ambow Education Holding (China), Beijing Magic Ears Technology (China), Chegg (US)and Other Major Players.
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However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.Market Dynamics and Factors for K-12 Market:
Drivers:
Increasing Adoption of K-12 Online Platform for Learning
The K-12 Online Tutoring Market is largely expanding due to its ability to provide learning programs online. During the COVID-19 pandemic government closes schools, offices, and entertainment places to control the effect and infection of the corona virus which has a high growth rate; it is continuously spreading in the world. As a result, the strict restriction applied by the government hampers the education system; it affects the academic study of over 1.2 billion children in 186 countries. The adoption of online classes for learning is tremendously increased in that timeframe which helps to propel the growth of the market. Additionally, Even before COVID-19, education technology was seeing rapid expansion and adoption, with worldwide edtech investments reaching US$18.66 billion in 2019 and the whole industry for online education expected to reach $350 billion by 2025.
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Opportunities:
Initiatives Taken by Government to Feed the Demand of K-12 Online Learning.
The Chinese government ordered a quarter of a billion full-time students to continue their academic studies through online platforms; this provides an opportunity to the student for learning and for K-12 online tutoring market to expand its presence. For Instance, Tencent Classroom has been extensively used by many users during the lockdown and before the lockdowns. The Tencent K-12 Online School in Wuhan attracted approximately more than 730,000 students, which is 81% of the total student of K-12 students; this is the largest "online movement" in the educational history of Wuhan, As a result strengthening the expansion of the K-12 online tutoring market due to the initiatives taken by the government is providing lucrative opportunity for the market over the projected period.
Segmentation Analysis of the K-12 Online Tutoring Market:
By Type, the high school segment dominates the market growth of the K-12 Online Tutoring market over the forecast period. High school students aged between 14-18 so they have a better understanding of the subject, situation, and environment. In high school students have to decide their future path or field. They can grasp, and consume things more easily so high school-going children are more susceptible to online classes.
By Application, the STEM courses segment anticipated the highest growth in the K-12 online tutoring market during the forecasted period. STEM stands for Science, Technology, Engineering, and Mathematics. STEM is essential for the selection of future degree courses. Till middle school, one teacher can able to teach all the core subjects but after one point the syllabus and the depth of study are so high that there is a different teacher to teach specific subjects.
By Type
- Primary School
- Pre-Kindergarten
- Junior High School
- Kindergarten
- High School
By Application
- English Courses
- STEM Courses
- Language Courses
- Others
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Regional Analysis of the K-12 Online Tutoring Market:
Asia Pacific region is the leading region in the K-12 Online Tutoring market during the forecasted period. According to a statistic, India has 1.46 million K-12 schools and 230 million kids registered in the modern K-12 education model. In this region, the high birth rate in countries like India, and China shows a high customer base. India has the largest adolescent population in the world, 253 million, and every fifth person is between 10 to 19 years old. The rise in the number of students and an increasing number of students taking online education is propelling the growth of the market. Additionally, the increasing penetration of the Internet is expected to support the development of the K-12 online tutoring market. The rural and semi-developed area in this region has the availability of smartphones and the Internet which gives boosts the growth of the market.
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In April 2021, Education technology giant Byju’s took biggest step to expand internationally with the launch of a new product namely Byju’s Future School that become available in the United States, UK, Brazil, Indonesia and Mexico from next month.
In June 2022, Vedantu launched its first hybrid learning centre as edtechs shed pandemic-induced growth. Edtech unicorn launched its first hybrid learning centre in Muzaffarpur, following in on the strategy of other edtech startups like Byju’s, Unacademy and PhysicsWallah, among others.
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