According to the research report titled ‘Asia K-12 After School Training (AST) Market (2021 Edition) - Analysis By Grade (1-5, 6- 9, 10-12), Application, Type, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026),’ available with MarketStudyReport, Asia K-12 after school training (AST) market garnered USD 242.43 billion revenue in 2020 and is slated to register colossal growth during 2021-2026.

Increasing awareness about after-school tutoring, rising stress of test preparation, and massive technological advancements in education sector are elements contributing to the expansion of Asia K-12 after school training (AST) market.

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For those unfamiliar with the concept, the after-school tutoring framework varies significantly from the private-school sector, in that it is completely reliant on the mainstream education structure and does not prevail as a self-governing educational activity.

The widespread adoption of tutoring methods in many developing economies such that the spending on this phenomenon is almost equivalent to that of the expenditure incurred on formal schooling system, is amplifying the scope of industry to a great extent. 

During the COVID-19 pandemic, many schools and other institutions were temporarily closed to prevent the spread of the virus, disrupting school workflow and semester schedules. Education providers faced operational challenges when it came to implementing online learning and providing effective assistance to students, which hampered the progress of Asia K-12 after school training (AST) market.

With the economic downturn and the decline in demand for after-school tutoring, there was a significant drop in income, putting strain on educational services. However, with the ease of lockdowns and reopening of schools around the world, the business sphere is expected to pick up in the coming years. 

Speaking of regional front, China market is speculated to register immense growth during the assessment timeframe.

The renowned players in Asia K-12 after school training (AST) industry include Vedantu, New Oriental Education and Technology Group, Byju's, TAL Education Group, Puxin Limited, Koolearn Technology Holding Ltd., Rise Education Cayman Ltd., China Online Education Group, China Beststudy Education Group, GSX Techedu Inc., China Distance Education Holdings Limited, and OneSmart International Education Group Limited among others.