India Test Preparation Market by End-user, Learning Method and Product - Forecast and Analysis 2023-2027

India Test Preparation Market Forecast 2023-2027

The India Test Preparation Market size is forecast to increase by USD 9.20 billion, at a CAGR of 13.9% between 2022 and 2027. The report includes historic market data from 2017-2021. The market's growth hinges on rising enrollments in test preparation courses, the proliferation of Ed-tech startups, and government initiatives promoting test preparation. With an increasing number of students seeking to excel in academic and professional exams, demand for test preparation services is surging. Ed-tech startups are leveraging technology to offer innovative learning solutions, further driving market expansion. Additionally, government initiatives aimed at improving education outcomes are fostering the growth of the test preparation sector by encouraging accessibility and affordability. This report also includes an in-depth market growth analysis, market trends and analysis, and market forecasting of forecast and history.

Overview of the Market

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Key Players in the Market

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.

ALLEN Career Institute Pvt. Ltd. - The company offers test preparation courses for JEE Main, JEE Advanced, NEET UG, PNCF, BITSAT.

The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Adda247
• Bansal Classes Kota
• CL Educate Ltd.
• FIITJEE Ltd.
• Handa Education Services Pvt. Ltd.
• IMS Learning Resources Pvt. Ltd.
• Jamboree Education Pvt. Ltd.
• Manipal Global Education Services
• Mindworkzz
• Pearson Plc
• Reliance Industries Ltd.
• Resonance Eduventures Ltd.
• Sorting Hat Technologies Pvt. Ltd.
• Testbook Edu Solutions Pvt. Ltd.
• Think and Learn Pvt. Ltd.

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 research and growth and 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.

Market Segmentation 

The market encompasses a wide array of educational services and resources tailored to assist individuals in preparing for various assessments and exams. With increasing educational competition and a growing emphasis on career advancement, the demand for digital solutions and online learning platforms has surged significantly. Students seeking to excel in entrance exams for prestigious educational institutions or aiming to improve their language proficiency often turn to digital study materials and interactive resources available on mobile learning platforms. Additionally, professionals looking to enhance their credentials or pursue professional certification exams rely on specialized test preparation platforms catering to their needs. As the job market becomes more competitive, individuals recognize the importance of certification exams and graduate programs in securing employment opportunities and advancing their careers. The market thus plays a pivotal role in facilitating educational opportunities and empowering individuals to succeed in their academic and professional pursuits.

Market Segmentation by End-user

The market growth analysis by the post-secondary segment will be significant during the projection period. The higher education or post-secondary segment of the market is expected to record steady growth during the forecast period. The higher education segment majorly consists of students enrolling for college and university-level education and employees planning to attain certifications in a course or field. The major factor contributing to the growth of the market is the rising student interest in competitive exams.

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The post-secondary was the largest and was valued at USD 3.93 billion in 2017. In the market, most companies follow the proprietary model of teaching. Companies provide the personalization of content and ease of accessibility by implementing various digitization initiatives, such as gamification, adaptive learning, virtual platforms, and digital formative assessments. However, in this segment, services can be easily differentiated as many tests are not generic, thereby resulting in the high pricing power of vendors. Moreover, this segment has a considerable number of the non-academic working population that generally emphasize certification exams to increase and improve their skillset. This population has a stronger purchasing power decision when compared with the K-12 segment. The increasing adoption of online learning, along with the advent of learning technologies, such as web analytics, adaptive learning, social learning, and virtual learning, have further catered to the growth of test preparation. Such factors are expected to drive the growth of the post-secondary segment of the market during the forecast period.

Market Dynamics and Landscape

In India, the test preparation market is experiencing significant growth driven by increasing educational competition and the rising demand for career advancement. Digital solutions and online learning platforms have emerged as key drivers, offering interactive resources and digital study materials. The market is witnessing a surge in demand for test preparation services for various assessments, entrance exams, and certification exams such as GMAT, GRE, SAT, and professional certification exams. However, challenges include adapting to rapidly evolving technologies, ensuring accessibility and affordability, and addressing the diverse needs of students across different educational levels and backgrounds. Our researchers analyzed the data with 2022 as the base year, along with the market trends and analysis, drivers, and challenges. A holistic market growth analysis and report of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The rising number of enrollments in test preparation courses is notably driving market development. Hence, students are continuously opting for examination practice courses to boost their chances of clearing competitive exams. The market has witnessed significant growth in the number of enrollments, especially in online examination practice courses. The increase in customer spending, along with the improved cost of living, has catered to the rise in the number of enrollments in the test preparation market in India. This increase in the spending power of the customer has resulted in a greater number of parents enrolling their children in test preparation courses to gain an added advantage in the market over others.

In addition, the increasing technological enhancements and the widespread use of mobile phones are further fueling the growth of the market. As a result, companies operating in the market are investing substantially in developing learning content that can be supported by multiple mobile platforms. In the past few years, there has been a significant increase in the number of students enrolling in private schools. As a result of the growing number of enrollments in schools and test preparation courses, there is a rising demand for a greater number of test preparation courses. Such factors are expected to drive the growth of the market during the forecast period.

Significant Market Trends

High demand for government service and banking courses is an emerging trend shaping market development. The business-to-consumer (B2C) model is the most prevalent model in which providers directly cater to students. The market witnesses a high demand for government services and bank probationary officer (PO) courses among students, owing to job security and well-paid salaries. With the increased prevalence of online test preparation in India, many students and working professionals in Tier 1 and Tier 2 cities are increasingly opting for test preparation courses for Bank PO exams and government services. Also, the availability of a higher number of vacancies, especially in banking, as compared to others, allure more students. 

Moreover, most students opt for online training in Tier 1 cities due to its increased flexibility and ability to track their performance over time. Apart from this, there is an increased demand for test preparation in engineering and medical fields as well. The blended format of learning is gaining traction in these exam preparation courses, with providers offering offline touch points to students with classroom experience at regular intervals. Such factors are expected to drive the demand for test preparation, which, in turn, is expected to drive the expansion of the market during the forecast period.

Major Market Challenges 

Credibility issues of companies providing test preparation is a significant challenge hindering market growth. The test preparation market in India is fragmented in nature, with the presence of many local and international vendors operating in the market. As a result, students opting for test preparation services face great difficulty in identifying credible companies. The vast choice given to students leads to difficulties in determining the quality of the content and the training offered. Learners are also concerned about the extent and accuracy of the content in such online courses. Furthermore, training vendors fail to monitor and measure the progress of students efficiently. Most students opt for test preparation services from popular and well-known vendors with good brand visibility and a recognized brand name. Such factors are expected to hinder the growth of the market during the forecast period.

Market  Customer Landscape

The market development analysis 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 market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies. 

Customer Landscape

Segment Overview

The market analysis and report forecasts market expansion by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.

• End-user Outlook
  • Post-secondary
  • K-12

• Learning Method Outlook
  • Offline learning
  • Online learning

• Product Outlook
  • University exams
  • Certification exams
  • High school exams
  • Elementary exams
  • Other exams

Market Analyst Overview

The market is witnessing robust growth, driven by several factors including the growing demand for higher education, increasing adoption of online test preparation platforms, and the rising popularity of specialized exams such as language proficiency tests and university admissions exams. Cost concerns remain a significant factor for students, leading to the emergence of mobile-friendly platforms and online proctoring solutions to make test preparation more accessible and affordable. Renowned brands are leveraging technological advances such as AI and machine learning to offer personalized and effective test preparation apps. Traditional classroom-based services are also evolving towards blended learning models, incorporating live online classes and virtual environments. Despite these driving factors, challenges such as limited spaces for university admissions and standardized test formats persist, highlighting the need for continuous innovation and technological advancements in the test preparation industry.

Market Scope
Report Coverage	Details
Page number	148
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 13.9%
Market growth 2023-2027	USD 9.20 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	12.8
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Adda247, ALLEN Career Institute Pvt. Ltd., Bansal Classes Kota, CL Educate Ltd., FIITJEE Ltd., Handa Education Services Pvt. Ltd., IMS Learning Resources Pvt. Ltd., Jamboree Education Pvt. Ltd., Manipal Global Education Services, Mindworkzz, Pearson Plc, Reliance Industries Ltd., Resonance Eduventures Ltd., Sorting Hat Technologies Pvt. Ltd., Testbook Edu Solutions Pvt. Ltd., Think and Learn Pvt. Ltd., Triumphant Institute Of Management Education Pvt. Ltd., Vedantu Innovations Pvt. Ltd., and Zee Learn 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, condition analysis for the market projection period.
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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market  forecast
• Detailed information of market report factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market  size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Market growth and forecasting across India
• Thorough analysis of the market’s competitive landscape and market growth and trends
• Comprehensive analysis of factors that will challenge the growth of market companies

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