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The test preparation market size is estimated to increase by USD 46,860.24 million between 2022 and 2027. The market size is forecast to grow at a CAGR of 6.88%.
One of the key factors driving the market growth is the increasing use of analytical tools in test preparations. The increasing demand for the implementation of analytical tools by several market players is significantly contributing to the market. One of the main advantages of these tools is that they offer effective and efficient modules as well as different insights that can be utilized by teachers, trainers, as well as students to identify their progress by leveraging reporting tools, thereby optimizing the overall learning and the process.
Additionally, these tools are equipped with performance-tracking tools that assist educators in identifying program trends and any outstanding matriculation and retention issues related to each individual student. For instance, Adobe Systems offer Experience Cloud for higher education institutions, which allows institutions to customize the learner's campus experience through mobile engagement and online communities by leveraging inbuilt content management tools, analytics, and automation software. Hence, such factors are expected to drive the market during 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.
Aakash Educational Services Ltd: The company offers test preparation for JEE and NEET.
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.
APAC is estimated to contribute 41% to the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Another region offering significant growth opportunities to market players is North America. One of the main factors which are significantly contributing to the market in North America is the increasing number of students enrolling in higher studies in the region. In the US, the main criterion for getting admission into prestigious universities and courses is to have a good test score. As a result, it has led to a highly competitive environment among students, which in turn led to an increase in the services and courses in the market. Additionally, many startups are offering innovative and experiential learning courses to students. Factors such as rising enrollments in the courses and the increasing number of startups that cater to the regional market are significantly contributing to the market in the region. Furthermore, the growing competition among students has fuelled the demand for the courses which in turn is driving the market in the region during the forecast period.
The blended learning segment is estimated to witness significant growth during the forecast period. Some of the key factors that are significantly contributing to this segment are the increase in the number of technological advancements including artificial intelligence (AI) and various other visual technologies such as virtual reality (VR) and augmented reality (AR), with adaptive learning modules and analytics. Blended learning can be referred to as a mix of online learning and any computer-mediated instruction module.
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The blended learning segment was the largest segment and was valued at USD 61,157.75 million in 2017. The main advantages of blended learning courses are that they are cost-effective and minimize training-related costs. Additionally, the increasing adoption of blended courses is fuelled by a rise in the number of online virtual classes, as well as online private tutoring courses. Some of the prominent companies that are offering blended courses in the global market include Club Z! and Edgenuity. Club Z! provides different kinds of online tutoring services for a variety of university exams, as well as high school and elementary exams. Hence, such factors are expected to fuel the growth of this segment which, in turn, will drive the market growth during the forecast period.
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.
A key factor shaping the market growth is the technological advances in test preparation services. Some of the main factors which have fuelled the growth of the market include the increasingly tech-savvy population and the growing adoption of tablets, mobile phones, and other mobile devices. As a result, it has led to increasing demand for advanced modes of delivery as well as inventive modules that integrate different new technologies such as VR and AR and advanced modules such as AI.
One of the main advantages of the integration of AI into these modules is that it enables companies to gain insights by evaluating the individual performance of the student on standardized tests against those of other students across different competitive tests, including SSAT, ISEE, ACT, and SAT. Furthermore, there is an increasing focus by teachers to integrate the use of visual technologies such as AR and VR and other technologies, such as virtual schools to enhance the learning for students. Hence, such factors are expected to drive market growth during the forecast period.
The availability of open-source test preparation materials and the growth of the unorganized sector is one of the key challenges hindering market growth. The rise in the number of free, open-source courses that are available online can pose a significant threat to market growth. Additionally, the market is so fragmented with the presence of several domestic and international course providers that offer generic and specialized courses.
However, there is an increase in the number of open (free) sources due to the emergence of massive open online courses (MOOCs), coupled with a variety of websites as well as social media. Additionally, there are numerous start-ups in the market that offer a variety of free materials, including mock tests, practice question papers, and various other similar materials. Hence, such developments are expected to hinder market growth during the forecast period.
The 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 strategies.
Global Market Customer Landscape
The market report forecasts market by revenue at global, regional & country levels and provides an analysis of the latest trends and opportunities from 2017 to 2027.
The Market is experiencing significant growth, catering to individuals seeking academic, professional, or language proficiency assessments. With the increasing demand for educational and employment opportunities, the market provides resources for various types of assessments, including academic tests, entrance exams, and certification tests. Standardized language proficiency exams are particularly popular, offering individuals the chance to enhance their language skills for global opportunities. In response to the digital age, test preparation has evolved to include virtual environments, live online classes, and video conferencing platforms, providing flexibility and accessibility to learners worldwide. Digital study materials such as e-books and mobile learning apps have become prevalent, leveraging smartphone usage and offering mobile-friendly platforms for convenient test preparation anytime, anywhere.
Test Preparation Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.88% |
Market growth 2023-2027 |
USD 46,860.24 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.14 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aakash Educational Services Ltd., ArborBridge Inc., BenchPrep, C2 Educational System Inc., Cengage Learning Holdings II Inc., CL Educate Ltd., Club Z Inc., FIITJEE Ltd., Graham Holdings Co., Huntington Mark LLC, Imagine Learning LLC, John Wiley and Sons Inc., Manhattan Review Inc., McGraw Hill LLC, Pearson Plc, Sylvan Learning LLC, Tata Sons Pvt. Ltd., TPR Education LLC, USATestprep LLC, and Revolution Prep 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, Market condition analysis for the forecast period |
Customization purview |
If our Market forecasting 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 Learning Method
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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