Global K-12 Online TutoringMarket size is projected to reach USD 84.25 Billion by 2028 from an estimated USD 37.99 Billion in 2021, growing at a CAGR of 12.5% globally.
K-12 education has revolutionized the way pupils are taught, ensuring that children from kindergarten to 12th grade receive a basic elementary education. K-12 education is a combination of elementary and secondary education that emphasizes enhanced teacher-student communication. The letters K and 12 stands for kindergarten and 12th grade, respectively, in the K-12 educational model, which encompasses kindergarten, primary, secondary, high school, and pre-university education. The concept of K-12 education is gaining popularity around the world, particularly in the United States, Canada, and Europe. The rise in the adoption of the online tutoring concept will propel the growth of the K-12 online tutoring market over the forecasted timeframe.
Major Key Players for K12 Online Tutoring Market
- Ambow Education Holding Ltd.
- Chegg Inc.
- Club Z! Inc.
- Stride Inc.
- Pearson Plc
- TAL Education Group
- Khan Academy
Market Dynamics and Factors
The sudden outbreak of the COVID-19 pandemic resulted in the closure of schools, affecting over 1.2 billion children in 186 countries. 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.
Many online learning platforms, like BYJU'S, a Bangalore-based educational technology and online tutoring firm formed in 2011, which is currently the world's most valuable edtech company, began offering free access to their services in response to high demand. BYJU has experienced a 200 percent rise in the number of new students using its Think and Learn app after launching free live classes.
Since mid-February, when the Chinese government ordered a quarter of a billion full-time students to continue their studies through online platforms, Tencent Classroom has been extensively used. The Tencent K-12 Online School in Wuhan attracted approximately 730,000 students, or 81% of K-12 students, resulting in the largest "online movement" in educational history thus, strengthening the expansion of the K-12 online tutoring market over the projected timeframe.
K12 Online Tutoring Market Report Highlight
- By type, the high school segment is anticipated to have the highest share of the K-12 online tutoring market. High school students are more susceptible to online classes and can grasp things more easily thus, supporting the segment's growth.
- By application, the STEM segment is expected to lead the growth of the K-12 online tutoring market over the analysis period. Science, Technology, Engineering, and Mathematics is abbreviated as STEM. STEM degrees are in high demand across various industries, and it encompasses all subdisciplines within these fields. STEM degrees are generally interdisciplinary and hands-on, preparing students for a world that requires more researchers, engineers, computer scientists, and other professionals in the top STEM fields.
- The K-12 online tutoring market in the APAC region is anticipated to develop at the highest CAGR over the analysis 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. The rise in the number of students taking online education and the increasing penetration of the internet is expected to support the development of the K-12 online tutoring market.
Key Industry Development
In August 2021, BYJU'S introduced a unique 'Two-Teacher Advantage' for BYJU'S Classes – a comprehensive after-school online tutoring program. BYJU'S Classes is India's first online tuition platform with a two-teacher model, intending to provide superior learning experiences and high-quality teaching at a large scale to improve learning outcomes.
In September 2021, Vedantu announced that it has raised $100 million in a Series E funding round headed by ABC World Asia, a Singapore-based impact investing firm. Vedantu's market capitalization now stands at $1 billion, making it the newest EdTech business to join the unicorn club.
K12 Online Tutoring Market Segmentation
- Primary School
- Junior High School
- High School
- English Courses
- STEM Courses
- Other Language Courses
- Other Courses
For this report, Introspective Market Research has segmented the K12 Online Tutoring Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM