LONDON--(BUSINESS WIRE)--The test preparation market in the US is expected to post a CAGR of almost 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Vendors are coming up with varied analytical tools such as performance tracking tools for test preparation purposes. Such tools benefit trainers, teachers, and students in identifying progress and retention issues. In addition, there is an increase in the demand for adaptive practice testing modules to measure the efficiency of an assessment. These tests enable teachers to create a personalized learning strategy for their students by analyzing their learning ability. Thus, the growing adoption of analytical tools will boost the growth of the test preparation market in the US during the forecast period.
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As per Technavio, the increasing use of analytical tools in test preparations, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Test Preparation Market in the US: Rising Emphasis on Private Tutoring
The need for private tutoring is increasing due to the rising number of student enrollment in competitive and nationalized tests. Students are opting for test preparation services provided by online private tutors as the mobile and online learning is gaining popularity coupled with recent advancements in the education sector. This is encouraging vendors to offer online solutions to helps students prepare for examinations such as SAT, ACT, MCAT, LSAT, and SSAT. Companies are expanding their portfolio by including test preparation services for elementary and high schools, graduate schools, and colleges courses. Thus, with the rising emphasis on private tutoring, the market for test preparation in the US is expected to showcase a positive outlook during the forecast period.
“Apart from the increasing use of analytical tools in test preparations, the increase in M&A activities and growing number of startups are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Test Preparation Market in the US: Segmentation Analysis
This market research report segments the test preparation market in the US by product (university exams, certification exams, high school exams, elementary exams, and other exams), end-users (higher education and K-12), and learning model (blended and online).
During the forecast period, the university exams segment is expected to dominate the market due to the rising number of enrollments in nationalized and standardized tests. However, the certification exams segment is expected to witness the highest incremental growth. This is encouraging vendors to offer mobile-based on-demand certification courses such as FRM, CPA, and PANCE.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Five Forces Analysis
- Regional comparison
- Key leading countries
- Market Drivers
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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