LONDON--(BUSINESS WIRE)--The private tutoring market in the US is expected to grow at a CAGR of nearly 7% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the private tutoring market in the US by learning methods (online learning and blended learning) and by course type (curriculum-based learning and test preparation). It also provides detailed insights into the prominent drivers, latest trends, and challenges impacting the growth of the market.
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Market driver: growing student enrollments
The increasing number of student enrolments in universities and colleges has been creating a demand for private online tutoring services. Students are enrolling for private tutoring services to meet the existing education standards and to score grades. Also, the increasing income and growing lifestyle standards in the US are encouraging parents to spend on education. With the increase in the number of dual-income households, parents are willing to spend a higher amount on tutoring because of the unavailability of time to manage the children's learning requirements.
According to a senior analyst at Technavio for K12 and higher education research, “The increase in the awareness and willingness to spend on education for good career opportunities have been increasing the number of enrollments in higher education. Therefore, the growing enrollments are creating a plethora of opportunities for private tutoring service providers to expand their presence in the market.”
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Market trend: increase in freelance tutoring services
The growing number of full-time and part-time freelance tutor enrollments is generating revenues for private tutoring service providers. As freelancers enroll as tutors in registered institutes, they do not have to search for students. Therefore, this helps both the tutors and service providers in generating profits. Besides, freelance tutors receive the necessary course material that contributes to their interest in registering with private tutoring service firms. Training provided to tutors regarding the use of ed-tech solutions improves the interactions between students and tutors. Training in virtual assistance helps in engaging students and improves the quality of tutoring services.
Market challenge: lack of credibility in online tutoring services
Online tutoring contributes to a major share of private tutoring due to cost benefits, easy access, and other advantages. The increasing necessities, low costs, and preference of students to take tuitions at convenient times are shaping the demand for online tutors. Although the market is flooded with several international and regional tutoring service providers, the quality of offerings is unreliable. The parents are concerned about the quality of online tutoring services. This includes methods of teaching, syllabus, and availability of qualified tutors.
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