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The US Test Preparation market is valued at USD 14.71 billion at a CAGR of 7.32% between 2022 to 2027. The report includes historic market data from 2017 to 2021.
The rise in demand for personalized test preparation is a significant driver propelling the market's expansion. This tailored approach to test readiness is gaining traction among both parents and students, offering early and effective identification of areas needing improvement. In the US, key players in the test preparation sector are actively involved in crafting course content that aligns with student's learning objectives and performance goals. Providers have the capacity to customize learning experiences for individual students, monitor learner engagement, and evaluate progress using analytics data gathered from periodic tests and assignments. Consequently, the increasing preference for personalized learning methodologies is anticipated to fuel market growth throughout the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Additionally, test preparation companies often collaborate with schools and educational institutions to offer their services to students. Some popular test preparation providers in the US include Kaplan, The Princeton Review, and Khan Academy. The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides covers market segmentation by end-user (higher education and k-12), learning method (blended and online), and product (university exams, certifications exams, high school exams, elementary exams, and other exams). This market report also includes an in-depth analysis of drivers, trends, and challenges.
The market share growth by the higher education segment will be significant during the forecast period. Growing demand for certificate courses, coupled with an increase in the number of students choosing to take competitive exams, is driving this segment. In the higher education segment, the demand for specialized courses is very large, causing students to increasingly choose professional training. Thus, many different providers offer certificate courses in the fields of medicine, nursing, law, and property management, as well as many other industry-specific certifications.
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The higher education segment showed a gradual increase in the market share of USD 16.33 billion in 2017 and continued to grow by 2021. The number of different graduate entrance exams in the country has increased significantly, causing students to increasingly choose competitive exams. Another major factor contributing to the growth of the market is the increasing number of international students coming to the US to pursue higher education. These students often enroll in competitive courses like GRE, GMAT, and other similar courses. As a result, various providers have started to offer domain-specific exam preparation services. Thus, such factors will drive the growth of the market during the forecast period.
In the bustling landscape of test preparation in the United States, online education emerges as a game-changer. With a myriad of resources and courses available, students can tailor their study approach to suit their needs. From practice exams to tutoring sessions, the online platform offers comprehensive learning opportunities. Teachers leverage technology to provide engaging curriculum and assessments, ensuring students are well-prepared for exams. The convenience of online education allows students to study at their own pace, making it a preferred choice for many. As the market continues to evolve, innovative materials and technology-driven solutions are reshaping the test preparation landscape, providing students with the tools they need to succeed. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
An increase in merger and acquisition activities is a primary trend in the market. With the fragmented structure of the market, the number of mergers and acquisitions (M&A) activities has increased significantly, and domestic and international suppliers are eager to enter the market. International and domestic suppliers are increasingly entering into cooperation and collaborations with regional suppliers operating in the market.
For example, Pearson in April 2022 acquired a global online language-learning platform. The acquisition will allow Pearson to provide a wide range of options for people to learn and demonstrate their English proficiency by integrating online self-study into its current diagnostics, learning tools, and assessment portfolios. Thus, such factors will drive the growth of the market during the forecast period.
Increasing competition from private tutors is a challenge that affects the growth of the market during the forecast period. Tutoring is one of the fastest-growing businesses. A majority of students do not like to take part in group classes, so they are choosing private tutors. For some students, private tuition is a much more efficient method of education that allows them to develop their skills and capabilities at an accelerated pace. The fact that most students are unable to find an appropriate tutor, even though they do want one, is a major concern in the test prep training market.
As a result, there has been a rapid growth in the number of new websites and businesses entering the tutoring industry. The growth of the private tutoring market is driven by the need for students to be fully equipped with the knowledge necessary to complete the program and the lack of teaching skills in schools and colleges. These unorganized private teachers do not have a fixed rate, which can vary practice from student to student. Thus, such factors may impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on market penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The Testing Preparation market is a dynamic and competitive landscape, driven by the increasing demand for certification exams and test preparation services. With a wide array of offerings available, companies in this sector strive to provide comprehensive and effective solutions to meet the diverse needs of students preparing for various exams. The market size continues to grow, fueled by the popularity of test prep training and the rising number of students seeking assistance in preparing for high school, university, and elementary examination.
Market players employ various strategies to stay ahead in this competitive environment, executive summary, offering tailored learning methods, curriculum, and assessments to enhance students' progress and performance. As the market evolves, market research reports and insights from analysts help companies refine their offerings and adapt their strategies to meet changing consumer preferences.
Tutoring services play a crucial role in the test preparation market, providing personalized support and guidance to students aiming to excel in their exams. With the increasing presence of online platforms and digital resources, the market continues to witness growth and innovation, catering to the evolving needs of students and educators alike. Overall, the market remains robust, with companies continually innovating to provide effective exam preparation solutions and support services to students across all education segments.
The US test prep market report forecasts market growth by revenue and analyzes the latest trends and growth opportunities from 2017 to 2027.
US Test Preparation Market Scope |
|
Report Coverage |
Details |
Page number |
151 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.32% |
Market growth 2023-2027 |
USD 14.71 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.6 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ArborBridge Inc., BenchPrep, Blackboard Inc., C2 Educational System Inc., Cengage Learning Holdings II Inc., Club Z Inc., CogniFit Inc., Graham Holdings Co., Imagine Learning LLC, Instructure Holdings Inc., Kaplan Inc., Magoosh, McGraw Hill LLC, Pearson Plc, PrepScholar, Sylvan Learning LLC, Test Innovators, TESTIVE, TPR Education LLC, and USATestprep LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market growth analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Learning Method
8 Market Segmentation by Product
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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