|By Business Wire||
|September 23, 2016 02:03 PM EDT|
Technavio has announced the top 14 leading vendors in their recent online tutoring services market in the US report until 2020. To calculate the market size, the report considers revenue generated through the subscription and licenses charged for online tutoring products and services.
The test preparation services in the online tutoring services market in the US accounted for 53.84% of the market in 2015 and is expected to grow at a CAGR of 5.55% by 2020.
Advances in technology helped institutions create product and service innovations in order to have enriched online tutoring services. The synchronous and asynchronous modes of organizing tuition classes and one-on-one conversations between students and mentors are triggering the adoption of online tutoring services. Institutions collaborate with software giants such as Intel and Apple to help create new platforms to train such students to successfully compete in respective entrance exams.
Competitive vendor landscape
The online tutoring services market in the US possesses phenomenal growth potential for products and services offerings. It enjoys the presence of several players and is dominated by regional players. It caters to the needs of schools and individual students with the help of tie-ups with various schools, colleges, and universities. The revenue generated is mainly underpinned by the number of enrolled students for online tutoring classes. They are focused on delivering their products through multiple distribution channels and designing specific products for educational institutions. Apart from that, partnerships with technology service providers have gained momentum, driven by the need to capitalize on online delivery platforms.
Jhansi Mary, a lead analyst at Technavio for research on K12 and higher education, says, “M&As are used by large organizations as a strategy to penetrate the market. Over the years, multiple small vendors have entered the market with the help of investments provided by venture capitalists. This highlights the vast growth potential of the market during the forecast period.”
Investments in start-ups, which are trying to capture a niche market area, have increased. Vendors are undergoing strategic alliances such as M&As for marketing and penetration of the market. Many new players are also entering the market due to the long-term visibility in the market growth and advanced investments. The increase in investments by start-ups to capture the niche market has also motivated new players to enter the market.
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Top 14 online tutoring services market vendors in the US are as follows:
Fleet Education Services
The company provides educational and career-related services to students from primary to university level in varied subjects. It helps them prepare for entrance exams, public exams, or scholarship exams for schools, public sector, international clients, and corporations.
Kaplan offers a range of programs, resources, and tools for online tutoring services, continuing education, licensing, and professional development programs including SAT courses and many more in the US market.
Pearson has positioned itself in the online tutoring services market through its Smarthinking and The Praxis Series online services. These services are designed to help students with individual instructions and get on-demand support from the expert tutors on varied subjects.
Tutapoint offers range of services for students, schools, and parents to have fast and reliable access to all the resources and expert tutors on their desired time. It offers private, one-on-one, live, internet-based tutoring at their own discretion from their own homes or schools.
The company provides online tutoring programs for standardized tests SAT and ACT. The company collaborates with independent colleges to provide counsellors for students to ensure successful admissions in leading US colleges and universities.
The company develops educational software to provide online and mobile-app enabled test preparatory courses for tests such as GRE, GMAT, MCAT, ACT, and SAT. The company partnered with academic publishers and higher educational industries such as McGraw-Hill Education and John Wiley and Sons to develop interactive and digitalized courses.
InstaEDU offers audio, video, and text chat facilities through an online tutoring platform. Students can access practice tests and other test online tutoring facilities through its Tutoring-on-the-go app. The pricing plans include free trials as well as weekly and monthly paid plans.
JEI Learning Centers
JEI Learning Centers is one of the leaders in supplementary educating hundreds of students. The company includes colleges, educational TV stations, art printing facilities, and other affiliated companies. In this market, it offers online tutoring and language training services.
Knewton caters to education-related technological requirements of publishers, companies, technology start-ups, and institutions. It also helps in building infrastructure platforms to facilitate the development of adaptive learning applications. Apart from that, the company helps students to prepare for exams such as SAT, GMAT, and LSAT.
Manhattan Review offers education services and education consulting services. Its consultancy services cater to admission-related queries for graduate programs, colleges, and business schools.
Peterson's Nelnet is a US-based company and is a subsidiary of Nelnet. It offers career exam guides, directories, and test preparation books online. It enables students to prepare for college and graduation-level exams, such as TOEFL, PSAT, SAT, AP Exams, and ACT.
Revolution Prep delivers education solutions through private online tutoring, live online training, self-paced online courses, private tutoring, hybrid courses, and traditional classroom training. It offers test preparation courses for GMAT, SAT, and ACT that enable students to avail expert instructions, collaborative classes, study sessions, and booster classes.
Sylvan Learning a subsidiary of Educate and apart from tutoring it deals in academic camps and homework help. It serves K-12 students through the websites SylvanMathPrep.com and SylvanTestPrep.com wherein they can get access to tutoring and test preparation materials.
Tutor.com operates as a subsidiary of IAC/InterActiveCorp and offers services such as online tutoring, professional development, homework help, training, peer coaching, test preparation, and career counselling. Its customers include military, public libraries, teachers, universities, school districts, governments, and colleges.
Browse Related Reports:
- Test Preparation Market in the US 2016-2020
- M-Education Market in the US 2016-2020
- Technical and Vocational Education Market in North America 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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