During the coronavirus outbreak schools and colleges have been closed down and many have moved to offering online classes. This has created new opportunities for private tutoring services like Chegg, Club Z and Varsity Tutors. There has been unprecedented demand for online tutoring for elementary school students which was not previously a large market. There has also been increased demand for private tutoring for students that struggle to study independently. As a result, analysts predict that the US private tutoring market will grow by $7.37 billion by 2023.
Exam preparation services are seeing lower demand due to cancelled or postponed college entrance exams and changes in student' educational plans. Testing dates for both the SAT and ACT exams have been cancelled in May. The ACT cancellations have been extended until June while the SAT will resume live testing in August. As a result of the cancellations, over 1,200 colleges and universities have either removed or made optional standardized testing requirements for incoming students. Some colleges have also seen lower numbers of students enrolling due to financial concerns and international students being unable to enter the USA.
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