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K-12 Testing and Assessment Market by Product, Method, and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR40438
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The K-12 testing and assessment market share is expected to increase by USD 8.24 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 10.19%.

This K-12 testing and assessment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers K-12 testing and assessment market segmentation by product (curriculum-based testing and non-curriculum-based testing), geography (North America, Europe, APAC, South America, and MEA), and Market Landscape (blended method, online method, and traditional method). The K-12 testing and assessment market report also offers information on several market vendors, including CogniFit Ltd., Educational Testing Service, Edutech, Instructure Inc., MeritTrac Services Pvt Ltd., NIIT Ltd., Pearson Plc, Providence Equity Partners LLC, Scantron Corp., and Think and Learn Pvt. Ltd. among others.

What will the K-12 Testing and Assessment Market Size be During the Forecast Period?

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K-12 Testing and Assessment Market: Key Drivers, Trends, and Challenges

The increasing use of analytics is notably driving the K-12 testing and assessment market growth, although factors such as credibility issues may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the K-12 testing and assessment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key K-12 Testing and Assessment Market Driver

One of the key factors driving growth in the K-12 testing and assessment market is the increasing use of analytics. Many schools across the globe are opting for assessment software that includes the essence of learning analytics. The concept of learning analytics is gaining traction in the global K-12 testing and assessment market owing to technological advances and the increasing use of Big Data in the educational industry. The inclusion of learning analytics and adaptive learning in the testing module enables schools to provide a personalized form of learning. Although the concepts of learning analytics, adaptive learning, and Big Data are new in K-12 education, they provide a viable option to automate the testing and assessment function of teachers and educators. The learning analytics model focuses on capturing useful information for application in classrooms to predict progress and outcome for individual students. Teachers and educators use the captured data also to identify the learning needs of students.

Key K-12 Testing and Assessment Market Trend

The increasing emphasis on formative learning tools is another factor supporting the K-12 testing and assessment market share growth. Formative assessment involves the assessment of students as and when they progress with learning. The concept of formative learning enables teachers to act as a facilitator rather than a teacher. This method of learning is used to diagnose weak areas of learners and provide them with feedback. With the rise in the adoption of digital content and the growing popularity of online learning, many educators are increasingly investing in various formative assessment tools to improve their teaching methods to provide experiential learning to students. By using formative learning tools, teachers can provide quick feedback to students while teaching and they can monitor student activities on devices.

Key K-12 Testing and Assessment Market Challenge

The credibility issues will be a major challenge for the K-12 testing and assessment market during the forecast period. The global K-12 testing and assessment market is fragmented with the presence of domestic, regional, and global vendors that offer a range of testing and assessment solutions to K-12, which include gamification and online quizzes. Among all vendors that operate in the global K-12 testing and assessment market, established vendors enjoy competitive advantages, primarily due to the high quality of the content on the subject and by offering generic as well as specialized K-12 testing and assessment solutions. Established educational organizations and institutions that have sizeable budgets for digital education and e-learning collaborate with prominent K-12 testing and assessment service providers, such as Pearson. Contrarily, individual learners and small educational institutes face challenges in adopting quality e-learning courses and K-12 testing and assessment solutions. This factor is expected to have a negative impact on the growth of the global K-12 testing and assessment market in the future.

This K-12 testing and assessment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global K-12 testing and assessment market as a part of the global education services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the K-12 testing and assessment market during the forecast period.

Who are the Major K-12 Testing and Assessment Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • CogniFit Ltd.
  • Educational Testing Service
  • Edutech
  • Instructure Inc.
  • MeritTrac Services Pvt Ltd.
  • NIIT Ltd.
  • Pearson Plc
  • Providence Equity Partners LLC
  • Scantron Corp.
  • Think and Learn Pvt. Ltd.

 

This statistical study of the K-12 testing and assessment market encompasses successful business strategies deployed by the key vendors. The K-12 testing and assessment market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • CogniFit Ltd. - The company offers different types of K-12 Testing and Assessment to introduce CogniFit for Education, a new web portal for teachers to assess, train, and monitor cognitive skills involved in the learning processes.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The K-12 testing and assessment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

K-12 Testing and Assessment Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the K-12 testing and assessment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the education services market includes the following core components:

  • Inputs
  • Operations
  • Marketing and sales
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for K-12 Testing and Assessment Market?

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46% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for K-12 testing and assessment in North America. Market growth in this region will be faster than the growth of the market in the European and MEA regions.

The increasing number of government initiatives to improve the quality of education and the overall development of students will facilitate the K-12 testing and assessment market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

With the outbreak of COVID-19, education officials were forced to cancel classroom learning in 2020. In Q1 2020, institutions in the US switched to online teaching methods and online testing and assessments. Thereby, the education landscape changed dramatically. Universities across the US adjusted the programs in response to the spread of COVID-19. The shift from classrooms to virtual platforms created immense opportunities to adopt education testing and assessment systems and propelled the regional market in focus in 2020. With this sudden shift away from classrooms, the adoption of online learning will likely persist even after the containment of the pandemic, which will drive the regional market in focus during the forecast period.

What are the Revenue-generating Product Segments in the K-12 Testing and Assessment Market?

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The K-12 testing and assessment market share growth by the curriculum-based testing segment will be significant during the forecast period. The global K-12 testing and assessment market is dominated by curriculum-based tests and assignments.

This report provides an accurate prediction of the contribution of all the segments to the growth of the K-12 testing and assessment market size and actionable market insights on post COVID-19 impact on each segment.

 

K-12 Testing and Assessment Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 10.19%

Market growth 2021-2025

USD 8.24 billion

Market structure

Fragmented

YoY growth (%)

9.75

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 46%

Key consumer countries

US, China, UK, Germany, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

CogniFit Ltd., Educational Testing Service, Edutech, Instructure Inc., MeritTrac Services Pvt Ltd., NIIT Ltd., Pearson Plc, Providence Equity Partners LLC, Scantron Corp., and Think and Learn Pvt. Ltd.

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, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this K-12 Testing and Assessment Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive K-12 testing and assessment market growth during the next five years
  • Precise estimation of the K-12 testing and assessment market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the K-12 testing and assessment industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of K-12 testing and assessment market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Curriculum-based testing - Market size and forecast 2020-2025
  • Non-curriculum-based testing - Market size and forecast 2020-2025
  • Market opportunity by Product

Market Segmentation by Method

  • Market segments
  • Comparison by Method
  • Blended method - Market size and forecast 2020-2025
  • Online method - Market size and forecast 2020-2025
  • Traditional method - Market size and forecast 2020-2025
  • Market opportunity by Method

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • CogniFit Ltd.
  • Educational Testing Service
  • Edutech
  • Instructure Inc.
  • MeritTrac Services Pvt Ltd.
  • NIIT Ltd.
  • Pearson Plc
  • Providence Equity Partners LLC
  • Scantron Corp.
  • Think and Learn Pvt. Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The k-12 testing and assessment market market growth will increase by $$ 8.24 bn during 2022-2025.
The k-12 testing and assessment market market is expected to grow at a CAGR of 10.19% during 2022-2025.
Technavio has segmented the k-12 testing and assessment market market by product (Curriculum-based testing and Non-curriculum-based testing) ,geography (North America, Europe, APAC, South America, and MEA) , and market landscape (blended method, online method, traditional method, South America, and MEA).
CogniFit Ltd., Educational Testing Service, Edutech, Instructure Inc., MeritTrac Services Pvt Ltd., NIIT Ltd., Pearson Plc, Providence Equity Partners LLC, Scantron Corp., Think and Learn Pvt. Ltd. are a few of the key vendors in the k-12 testing and assessment market market.
North America will register the highest growth rate of 46% among the other regions. Therefore, the k-12 testing and assessment market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the k-12 testing and assessment market market growth are:
  • increasing use of analytics
  • increasing emphasis on formative learning tools
The k-12 testing and assessment market market vendors should focus on grabbing business opportunities from the curriculum-based testing segment as it accounted for the largest market share in the base year.
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