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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 trajectory hinges on various factors, notably the upward trend in enrollments for test preparation courses, the proliferation of Ed-tech startups, and government initiatives aimed at enhancing test preparation. These factors collectively drive the expansion of the market, reflecting a growing emphasis on educational advancement and skill development. As more individuals seek to improve their academic performance and career prospects through standardized testing, the demand for specialized preparation resources and platforms continues to rise. Concurrently, the surge in Ed-tech startups reflects an increasing recognition of the potential for technology-driven solutions to enhance learning outcomes. Government initiatives further bolster market growth by providing support and incentives for initiatives aimed at improving educational access and quality. Together, these factors contribute to the evolving landscape of test preparation services and technologies. This report also includes an in-depth market growth analysis, market trends and analysis, and market forecasting of forecast and historic.
Page Number | 148 |
Forecast period | 2023-2027 |
Historic period | 2017 - 2021 |
List of Charts and Table | 144 |
Growth momentum & CAGR | 13.9% |
Market Growth 2024-2028 | USD 9.20 billion |
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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.
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 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 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.
The market is diverse, catering to various exams like the Graduate Record Exam (GRE), Test of English as a Foreign Language (TOEFL), and Elementary school exams. It serves college students, job seekers, and those seeking professional licensing tests. With digital solutions and online test preparation platforms, learners access study materials, practice tests, and live online classes. Data analysis and analytical tools enhance test preparation, meeting the demand for standardized tests across different fields and proficiency levels.
Based on 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.
The post-secondary was the largest and was valued at USD 3.93 billion in 2017. 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.
The market is experiencing a paradigm shift with the integration of artificial intelligence (AI) and data analytics into preparatory services. This evolution is evident in blended learning approaches adopted by K-12 education systems and educators worldwide. E-learning platforms and virtual classrooms are gaining traction, offering tailored solutions for exams like the Scholastic Assessment Test (SAT). The emergence of test preparation apps and mobile-friendly platforms has revolutionized remote proctoring solutions, catering to the evolving needs of the education and job markets. As demand surges for practice resources across academic exams and professional certifications, the market is witnessing significant growth, fueled by prestigious educational institutions and entrance exams. 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.
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 market. 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.
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.
Credibility issues of companies providing test preparation is a significant challenge hindering market growth. The market 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.
Moreover, 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.
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
The market research report provides comprehensive data with forecasts and estimates in "USD Billion" for the period 2023-2027, as well as historical data from 2017 - 2021 for the following segments.
The market offers comprehensive solutions for various exams, including language proficiency assessments, professional certification exams, and post-secondary certification. It caters to academic tests and school or university entrance exams with classroom-based test preparation services and digital study materials like e-books, PDFs, and quizzes. Learning models and algorithms enhance test format understanding. Online mode via video conferencing platforms is popular, with demand surging for private tutoring. Publishers offer data synthesis and Test Preparation Wafer services, supporting college admissions and graduate programs for business schools and other institutions.
Further, in the market, learning models aid exam breakdown for various assessments like language proficiency tests, ACT, and GMAT. The online mode is pivotal for test preparation, meeting demand through publisher platforms. These platforms offer comprehensive resources to cater to the diverse needs of test takers. Interactive learning via online platforms ensures accessibility and convenience, driving the demand for test preparation services and facilitating effective exam preparation.
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, and 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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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
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