“Capacity never lacks opportunity. It cannot remain undiscovered because it is sought by too many anxious to use it.” JACQUELINE COCHRAN
Digital is where the New Age is at. Digital is how everyone is thinking and acting today. Can the education space be far behind?
The online education and tutoring space today is witnessing exponential growth globally and specifically in the US, doubling from a 4% to 8% share of the total tutoring and test-prep services. In the last five years, the industry has expanded rapidly due to the preference for online services and the existing economic crisis.
There are many significant developments that are spurring on this rapidly growing industry.
Economic background
As job security decreases in the US, people are seeking to rely less on expensive brick-and-mortar tutoring for their children and more on flexible, cheaper online options. Online tutoring by definition delivers training virtually, thus saving overheads on classrooms, furniture, and such. These cost benefits are passed onto happy customers.
The Pervasive Internet Technology
Like it or not, the Net is the space where young minds are being developed and is the accepted medium for most information today. Every household has an internet connection and virtually all services have their virtual presence – from groceries to transport booking to convenient at-home tutoring. Children grow up on the iPad and are receptive to personalized tutoring sessions that are delivered through this medium.
Increasing Competitiveness
The need to perform better than peers in a competitive world has put pressure on students to score high in school tests and admissions tests.
Working parents need a reliable, cost-effective, and result-driven service to provide additional tutoring and mentoring for students across grades. This ensures that they perform competitively in their competitive admission exams and secure access to the best colleges, and thus, jobs.
The Response: Online Tutoring
The developments in this space is exciting, with the market research firm Global Industry Analysts, Inc. (GIA) releasing a study stating that the global private tutoring market is projected to surpass $102.8 billion by 2018.
While the US, Europe, and Asia Pacific fuel the maximum demand, the solutions are predominantly delivered by Indian organizations as they are perceived as sincere and qualified educators.
For accredited online tutoring organizations in this space, with an established tutoring panel and reliable technology backup, accelerated growth and global virtual expansion are guarantees. The demand far exceeds quality supply in this pioneering vertical.
Online tutoring seems to be the choice of the decisive Generation Now.