The presence of multilingual employees in MNCs and the emergence of English as the business language for most companies is driving the demand for English language learning in China and Japan. This will have a positive impact on the growth of the test preparation market in China during the predicted period. The incorporation of English language learning in course curriculum of schools will ensure the suitability of students for future employment requirements. This, in turn, will boost the demand for English speaking teachers. Many students are trying to qualify English language-based examinations such as TOEFL and TOEIC to pursue higher studies from foreign universities and colleges. This encourages them to enroll in English test preparation programs, which in turn, will fuel the growth of the market. According to the test preparation market analysis, Technavio’s market research analysts predict that this market will grow at a CAGR of more than 16% by 2021.
Technological advancements are largely witnessed in test preparation services. The introduction of virtual learning platforms is one of the key test preparation market trends that will gain traction in the test preparation market in China for the next four years. Virtual platforms offer online access to various test preparation materials and test preparation tutoring, which will be one of the major factors propelling their adoption.
Competitive landscape and key vendors
The test preparation market in China is characterized by the presence of many vendors. Vendors offer test preparation programs with varying prices. These test preparation programs depend on the kind of products and services included in the package. Many vendors offer only practice tests and exam simulators as a part of the program package.
Key vendors in this market are -
Club Z! Tutoring
New Oriental Education & Technology
Other prominent vendors in the market include ATA, EIC Education, Global Education & Technology, Manhattan Review, TAL Education, Tutors in China, Chuanke, and Xiaozhan Jiaoyu.
Segmentation by learning model and analysis of the test preparation market in China
Based on the test preparation industry statistics, the assessment segment accounted for the majority of market shares during 2016 due to the increasing demand for examinations. The segment will continue to grow during the estimated period due to the rising preference of Chinese students towards pursuing their education in foreign universities.
Segmentation by end-user and analysis of the test preparation market in China
The higher education segment in China contributed to the maximum shares during 2016 due to the increasing enrollment in test preparation programs. This will enable students to qualify in various competitive international or domestic examinations. The segment will continue to grow in the forthcoming years due to the rising interest towards graduate and post-graduate degrees.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the test preparation market in China?
What are the key market trends impacting the growth of the test preparation market in China?
What are the challenges to market growth?
Who are the key vendors in the test preparation market in China?
What are the market opportunities and threats faced by the vendors in the test preparation market in China?
What are the trending factors influencing the market shares of China?
What are the key outcomes of the five forces analysis of the test preparation market in China?
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