Global Industry Analysts, Inc, a market research firm released a report stating that that the global market for private tutoring is deemed to surpass the $102.8 billion mark three years from now. According to Global Industry Analysts, the blossoming private tutoring market is driven by the failure of the education system to give assistance to the various and unique needs of different students. Along this, there is also a growing parental desire to give their children the best possible education to be competitive in a very tight global economy.
Based on the figures released by Global Industry Analysts, the Asia Pacific (most notably Singapore, Hong Kong, South Korea, Japan and China), Europe and the United States are responsible for approximately more than 90 percent of the advancement for the market of global private tutoring. As it was noted in the report of GIA, the market of private tutoring in South Korea alone is estimated to reach at least $13.9 billion. This figure is roughly about 15 percent of the overall market. Additionally, India is the leading country which offers professional academic coaching and professional linguistic online tutoring capabilities at fees which are very affordable.
The Asians are clearly leading the boom for global tutorial. However, the US of the West is catching up. In 2011, the federal government of the country was reported to invest at least $134 million into strengthening the private enrichment programs for students who have low income which are under the auspices of the Act deemed as the No Child Left Behind. However, as reported by the Sacramento Business Journal, the budget cuts lead to fewer school tutoring programs which translates to the private businesses filling up the gaps for the needs of the students.
The founder of Academic Coaching Academy, Rebecca Fochek, said that the private in home tutorials offered by various companies give innovative, secure learning environment and highly personalized style of learning for the stressed as well as distracted student population. These kids are under immense pressure to perform well in different competitive entrance examinations for highly esteemed colleges and universities. Companies like Bee Academic Tutoring will be able to provide for the needs of students.