The Test Preparation Market in the US to grow at a CAGR of 10.16% during the period 2016-2020.
Test Preparation Market in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated by test preparation service providers.
The benchmarking in the education system is highly useful in measuring the performance of students, teachers, and schools. The test preparation industry has emerged alongside with the extensive standardization of the education sector in the US. This standardization essentially refers to the provision of exam preparation services to students to help them score well in entrance tests.
Test preparation providers make supplementary educational materials, mock tests, and guides available in classroom-based or online learning modes. These services help students prepare for various university and high school level exams, such as SAT and ACT, as well as certification exams, such as Law School Admission Test (LSAT) and CPA. The quality assistance in preparation for various tests help students attain academic goals.
An emerging trend in the test preparation market is the increase in online distribution channels. The dynamic change in technology and demand patterns has forced test preparation firms to adopt other means to make their products available. The growth in the use of the internet and its increasing influence on various industries has led to the adaptation of online learning modules by the test preparation centers. This online platform has not only reduced transportations costs for tutors and students for the in-class tutoring services but also increased the digital connectivity between them.
According to the report, a key growth driver is the increase in graduate enrollment. The increase in the number of student enrollments for graduate school is directly related to the growth in the number of standardized test takers. This, in turn, is related to the growth in the number of students enrolled in test preparation services. According to the Council of Graduate Schools, there was a 3.5% increase in first-time graduate enrollment between fall 2013 and 2014.
Further, the report states that one challenge that could seriously hamper market growth is the threat from open source test preparation services.
- C2 Education
- Club Z
- Pearson ELT
Other prominent vendors
- Huntington Learning Centre
- Manhattan Review
- Revolution Prep
- Sylvan Learning
For more information visit http://www.researchandmarkets.com/research/kxtz3w/test_preparation