New York City, NY, 16 September, 2019/ 24 Market Reports: As per the research reports of 24 Market Reports, it is expected for the global K-12 online learning market to grow at a CAGR of 12% during the forecast period of 2019-2023. The growing importance of STEM education is driving the growth of this market.
Increasing job opportunities in the STEM fields is one of the major reasons for the growth of the global K-12 online learning market. To secure admission to the higher education institutions basic STEM education is essential to clear the entrance examination. Therefore, students are joining online K-12 classes intending to clear the online entrance examination which in turn is resulting in the growth of K-12 online learning market.
During the forecast period, the popularity of the online learning market will increase with increased emphasis on personalization and adaptive learning. In the micro-learning content students find the content interesting and engaging, and also the information is delivered in a short period.
Through the micro-learning mode of education, K-12 online tutors will be able to cover wide demographics in a shorter period. Therefore, micro-learning is expected to be a key trend in the global K-12 online tutoring market during the forecast period.
With the increasing growth and adoption of the internet among young generation, it is estimated for the online learning market to grow at a substantial pace. The platform gives the students the liberty to access the course at any point of time as the access will be available 24/7. It is been observed that the students learn with the same enthusiasm on the online as they do in the offline mode of study.
Various promotional activities by vendors to promote structured tutoring among students and parents will drive the growth of the market segment during the forecast period. It is estimated that the structured tutoring segment will account for the highest K-12 online tutoring market share.
The K-12 online tutoring market is been segmented based on course type, tutoring type, and geographical region. Assessments and subjects are the categories of course type, structured tutoring and on-demand tutoring are the categories of the market by tutoring type. APAC, North America, South America, Europe, and MEA are the categories of geographical region. The growing demand for test preparation and standardization of competitive tests are the factors that ensure the APAC region to remain the market leader. TAL, Vedantu, CDEL, iTutorGroup, Chegg EF Education First, Tokyo Academics, Knewton are some of the prominent players in the market.
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