According to a research report titled ‘Global Online Tutoring Services Market Size study, by Tutoring Type (Structured Tutoring, On-Demand Tutoring), Course Type (Language Courses, Science, Technology, Engineering, and Mathematics (STEM) Courses, Others), Duration (Short-Term Courses and Long-Term Courses) and Regional Forecasts 2020-2027’, available with Market Study Report, global online tutoring services market was valued at USD 4.81 billion in 2019 and is anticipated to grow at compound annual rate of 16.1% over 2020-2027, accruing USD 15.88 billion by the end of the forecast period.
 

As per the research findings, growing investment by ed-tech players, digital education initiatives undertaken taken by governments, and continuous advancements in digital portable device technology are catalyzing worldwide online tutoring services market growth.
 

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Furthermore, elimination of geographic constraints and availability of long-term and short-term courses on online tutoring platforms are also anticipated to boost market growth. For instance, the Ministry of Human Resource Development in India has maintained an online library for students of different academic levels and varied subject domains, easing self-learning and online tutoring.
 

For the unversed, online tutoring services are teaching services provided by companies or teachers to students via electronic medium, from their homes or any place other than specific places for education such as schools and colleges. Online tutoring are of two types – structured and on-demand.
 

Despite the positive business outlook, data privacy and security concerns on online tutoring platforms is expected to undermine market development in the forthcoming years.
 

On the regional front, global online tutoring services market, as per the report, is considered for Asia Pacific, Europe, North America, and Latin America. Among these regions, North America captured a significant portion of the market share due to availability of a large customer base and presence of well-established ICT service providers.
 

Meanwhile, Asia-Pacific industry is expected to register a significant growth rate during the forecast period 2020-2027 due to rising product adoption in developing economies like India and increasing number of government-funded education projects in rural areas.
 

Major contenders in global online tutoring services market sphere are ArborBridge, Inc., Chegg, Inc., iTutorGroup, Beijing Magic Ears Technology Co., Ltd., Club Z, Inc., Varsity Tutors, Byju’s, Vedantu.com, and Qkids Teacher.