The intense focus on STEM and the use of mobile devices for learning will drive significant growth in the K12 online tutoring market in the next five years. The sector is forecast to expand by 12.3% between 2022 and 2027, which amounts to an increase of $97.7 billion, according to market research firm Technavio.
The biggest driver of the online tutoring market will be students—particularly in high school—who are seeking to build skills to pass STEM exams and qualify for the ever-expanding job opportunities in STEM fields, which are growing faster than other industries.
Another factor is students’ reliance on mobile devices that support more personalized learning. Students are not only absorbing content on tablets, smartphones and smartwatches but they are also using the devices to view lectures and receive alerts and updates, among other educational activities. Vendors are accordingly prioritizing the development of mobile content that gives students easy access to e-learning materials, Technavio reports.
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A third source of online tutoring market expansion is the steady growth of gamification in online tutoring and assessments, the firm adds.
The fastest-growing segment of the market is “structured tutoring,” which comprises classes or sessions that are planned and scheduled for a certain number of hours, with a guaranteed tutor. Vendors are enticing students and families with free trial periods before subscribing to services that can cost as much as $50 per week or $40 to $120 per month.
The overall global education technology market for hardware and software was valued at $123.4 billion in 2022 and is expected to expand at a compound annual growth rate of 13.6% from 2023 to 2030, according to Grand View Research.
