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The US - test preparation market size is estimated to grow at a CAGR of 7.32% between 2022 and 2027. The market size is forecast to increase by USD 14,718.64 million. The report includes historic market data from 2017 to 2021. It also extensively 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 report also includes an in-depth analysis of drivers, trends, and challenges.
The rising popularity of personalized test preparation is the key factor driving the growth of the market. Personalized test preparation is increasingly popular with parents and students as it helps to early and effectively detect key areas of improvement for learners. US - test preparation market players are actively engaged in developing course content that is relevant to student learning outcomes and performance. Providers can tailor individual student learning patterns, track learner engagement, and assess their progress through periodic tests and assignments using analytics data. Hence, the growing popularity of personalized learning methods is expected to boost the growth of 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.
The US test preparation 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 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 shows a gradual increase in the market share of USD 16,335.74 million in 2017 and continue 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 US- test preparation market 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.
An increase in merger and acquisition activities is a primary trend in the market. With the fragmented structure of the US- test preparation 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 US test preparation 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 from student to student. Thus, such factors may impede the growth of the market 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 growth strategies.
Global Test Preparation Market Customer Landscape
The US test preparation market report forecasts market growth by revenue and analyzes the latest trends and growth opportunities from 2017 to 2027.
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US Test Preparation Market Scope |
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Report Coverage |
Details |
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Page number |
151 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.32% |
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Market growth 2023-2027 |
USD 14,718.64 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.6 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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 |
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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. |
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Customization purview |
If our 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
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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