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