Test Preparation Market in US by Product - Forecast and Analysis 2020-2024

  • Published: May 2020
  • Pages: 120
  • SKU: IRTNTR43435
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The test preparation market size in the US will grow by USD 10.72 billion during 2020-2024. The market’s growth momentum will accelerate because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by product (university exams, certification exams, high school exams, elementary exams, and other exams), end-user (higher education and K-12), and learning model (blended and online). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including ArborBridge Inc., Cengage Learning Holdings II Inc., Club Z! Inc., Edgenuity Inc., Instructure Inc., Kaplan Inc., McGraw-Hill Education Inc., Pearson Plc, Providence Equity Partners LLC, and TPR Education IP Holdings LLC.

What will be the Test Preparation Market Size in the US in 2020?

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Who are the Major Test Preparation Market Vendors in US?

The test preparation market in the US is fragmented. As a result, the number of M&A activities have increased, and both domestic and international vendors are looking forth to enter the market. International and domestic vendors are increasingly entering into collaborations and partnerships with regional vendors operating in the market. Although the increasing use of analytical tools in test preparations will offer immense growth opportunities, the availability of open-source test preparation materials and the growth of the unorganized sector will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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To help clients improve their market position, this test preparation market forecast in the US report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this test preparation market analysis in the US report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • ArborBridge Inc.
  • Cengage Learning Holdings II Inc.
  • Club Z! Inc.
  • Edgenuity Inc.
  • Instructure Inc.
  • Kaplan Inc.
  • McGraw-Hill Education, Inc.
  • Pearson Plc
  • Providence Equity Partners LLC
  • TPR Education IP Holdings LLC

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What are the Major Product Segments in the Test Preparation Market in US?

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The university exams segment will account for the highest test preparation market share in the US owing to the increased competition among students and the rising number of enrolments in nationalized and standardized tests.

Market growth in the university exams segment will be slower than the growth of the market in the certification exams, high school exams, and elementary exams segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the test preparation market size in the US.

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How will Analytical Tools Influence Test Preparation Market Growth in US?

  • The use of analytical tools in test preparations allows trainers, teachers, and students to gain various insights and identify their progress.
  • With the growing demand for analytical tools in test preparations, the need for adaptive practice testing modules is also increasing.
  • By measuring the efficiency of the assessment with adaptive learning, teachers can identify a student’s learning ability and create a personalized learning path accordingly.
  • For instance, McGraw-Hill Education offers LearnSmart adaptive technology, which helps students identify and focus on critical concepts, thereby enhancing their learning quotient.
  • Therefore, with the increasing use of analytical tools in test preparations, the test preparation market in the US will register a CAGR of over 6% during the forecast period.

TRENDS

  • Increasing emphasis on online mode of test preparation is one of the significant test preparation market trends, which will influence the growth of the market in focus.
  • With the rising adoption of online learning in the US, along with increased benefits in terms of accessibility and cost, students, colleges, as well as schools are increasingly opting for online test preparation modules offered by various test preparation service providers. 
  • As a result, various test preparation services providers, along with examination authorities, have started offering online test preparation services to the students. 
  • For instance, TPR Education IP Holdings offers a variety of test preparation courses as well as services. The company offers college admission services, including test prep, tutoring, admissions help, and book publishing.
  • The company also offers interactive online courses in contrary to traditional self-paced online test preparation courses, thereby enabling customization of course content.

What are the Key Factors Covered in this Test Preparation Market in US Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive test preparation market growth in US during the next five years
  • Precise estimation of the test preparation market size in US and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the test preparation industry across the US
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of test preparation market vendors in US

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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 test preparation market growth will increase by $10.72 billion during 2019-2024.
The test preparation market is expected to grow at a CAGR of 6.19% during 2019-2024.
Technavio has segmented the test preparation market by product (University exams, Certifications exams, High school Exams, Elementary exams, and Other exams) ,other1 (Blended and Online) , and other1 volume (Blended and Online).
ArborBridge Inc., Cengage Learning Holdings II Inc., Club Z! Inc., Edgenuity Inc., Instructure Inc., Kaplan Inc., McGraw-Hill Education Inc., Pearson Plc, Providence Equity Partners LLC, TPR Education IP Holdings LLC are a few of the key vendors in the test preparation market.
Andorra will register the highest growth rate of NaN% among the other regions. Therefore, the test preparation market in Andorra is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the test preparation market growth are:
  • Increasing use of analytical tools in test preparations
  • Technological advances in test preparation services
The test preparation market vendors should focus on grabbing business opportunities from the university exams segment as it accounted for the largest market share in the base year.
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