Test Preparation Market to grow by USD 46.86 billion from 2022 to 2027 | The increasing use of analytical tools in test preparations to drive growth - Technavio

NEW YORK, Sept. 22, 2023 /PRNewswire/ -- The test preparation market is estimated to grow by USD 46.86 billion from 2022 to 2027, growing at a CAGR of 6.88%. The increasing use of analytical tools in test preparations is one of the key factors driving the test preparation market growth. The test preparation market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer test preparation market are Aakash Educational Services Ltd., ArborBridge Inc., BenchPrep, C2 Educational System Inc., Cengage Learning Holdings II Inc., CL Educate Ltd., Club Z Inc., FIITJEE Ltd., Graham Holdings Co., Huntington Mark LLC, Imagine Learning LLC, John Wiley and Sons Inc., Manhattan Review Inc., McGraw Hill LLC, Pearson Plc, Sylvan Learning LLC, Tata Sons Pvt. Ltd., TPR Education LLC, USATestprep LLC, and Revolution Prep LLC. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying

Company Offering:

• Aakash Educational Services Ltd: The company offers test preparation for JEE and NEET. 
• For details on companies and their offerings – Buy report!

By Geography, the market is classified as North America, APAC, Europe, South America, and Middle East and Africa. APAC will have the largest share of the market

• APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to market players is North America. The growth of the test preparation market in North America is substantially fueled by the increasing number of students pursuing higher education in the region. In the US, securing admission to prestigious universities and programs often hinges on achieving a high test score. Additionally, a surge in startups offering innovative and experiential learning courses to students has contributed to the market's expansion. Factors such as rising enrollments in test preparation courses and the proliferation of startups catering to the regional test preparation market are playing pivotal roles in driving market growth. Furthermore, the intensifying competition among students has spurred the demand for test preparation courses, further propelling market growth in the region during the forecast period.

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Market Dynamic

Impactful driver

The increasing use of analytical tools in test preparations is one of the key factors driving the test preparation market growth. The increasing demand for the integration of analytical tools within test preparation solutions offered by various market players is playing a significant role in driving market growth. These test preparation tools come equipped with performance-tracking features that aid educators in identifying program trends and addressing issues related to student matriculation and retention on an individual basis. For instance, Adobe Systems offers the Experience Cloud tailored for higher education institutions, enabling customization of the learner's campus experience through mobile engagement and online communities. This is achieved through the use of built-in content management tools, analytics, and automation software. Consequently, these factors are expected to be key drivers in fueling the growth of the test preparation market during the forecast period.

Key Trend

A key factor shaping the test preparation market growth is the technological advances in test preparation services. The growth of the test preparation market has been significantly propelled by several key factors, including the increasing tech-savviness of the population and the widespread adoption of tablets, mobile phones, and other mobile devices. This has generated a rising demand for advanced delivery methods and innovative test preparation modules that incorporate emerging technologies like VR and AR, as well as advanced features like AI. The integration of AI into these test preparation modules offers a distinct advantage, enabling companies to gain valuable insights by evaluating individual student performance on standardized tests compared to their peers across various competitive exams such as SSAT, ISEE, ACT, and SAT. Furthermore, educators are increasingly focusing on integrating visual technologies like AR and VR, as well as other tools such as virtual schools, to enhance the learning experience for students. Consequently, these factors are expected to drive market growth in the test preparation sector during the forecast period.

 Market Segmentation

• The blended learning segment is estimated to witness significant growth during the forecast period. The growth of the test preparation market is significantly driven by several key factors, including the proliferation of technological advancements such as artificial intelligence (AI) and various visual technologies like virtual reality (VR) and augmented reality (AR). These advancements have led to the development of adaptive learning modules and analytics tools that enhance the learning experience. Further, prominent companies in the global test preparation market, such as Club Z! and Edgenuity, are providing blended courses. Club Z!, for example, offers a wide range of online tutoring services tailored for various university exams, high school exams, and elementary exams. These factors collectively are expected to fuel the growth of this segment, consequently driving the overall test preparation market growth during the forecast period.

Technavio Research experts have provided more insights on the market share of segments - View Free Sample Report

Related Reports:

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. This 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). The rising popularity of personalized test preparation is the key factor driving the growth of the market. 

The India Test preparation market size is expected to increase by USD 9.07 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 15.02%. This report extensively covers test preparation market segmentation in India by product (university exams, certification exams, high school exams, elementary exams, and other exams), end-user (post-secondary and K-12), and learning method (offline learning and online learning). One of the key factors driving growth in the test preparation market in India is the rising number of enrollments in test preparation courses.

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product 

7 Market Segmentation by Geography

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact US:

Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

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