LONDON--(BUSINESS WIRE)--The global K-12 testing and assessment market size is poised to grow by USD 7.76 billion during 2020-2024, progressing at a CAGR of about 10% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The concept of learning analytics is increasingly becoming popular among educational institutions worldwide. This is due to technological advances and the increasing use of Big Data in the education sector. The concept of learning analytics has emerged as a viable option to automate the testing and assessment function of teachers and educators. The approach focuses on capturing useful information for application in classrooms and predicts the progress and outcomes of individual students. Learning analytics also helps teachers and educators to use the captured data to identify the learning needs of students. Such benefits are increasing the penetration of learning analytics in the education sector, which is fueling the growth of the global K-12 testing and assessment market.
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- The major K-12 testing and assessment market growth came from the curriculum-based tests and assignments segment in 2019. This is due to the increasing adoption of online and blended mode of testing by teachers and educational institutions.
- North America was the largest market for K-12 testing and assessment in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the increasing number of government initiatives to improve the quality of education and the overall development of students in the region.
- The global K-12 testing and assessment market is fragmented. CogniFit Ltd., Edutech, ETS Global BV, Instructure Inc., MeritTrac Services Pvt Ltd., NIIT Ltd., Pearson Plc, Providence Equity Partners LLC, Scantron Inc., and Think & Learn Pvt. Ltd. are some of the major market participants. To help clients improve their market position, this K-12 testing and assessment market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global K-12 testing and assessment market 2020-2024 is expected to have positive market growth. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.
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Rising number of collaborations between schools and assessment companies will be a key market trend
Traditional methods of assessing students’ performance require significant time, money, and effort by educational institutions. Also, it does not guarantee quality and fair assessments. This has led many educational institutions to collaborate with various testing and assessment companies to ensure fair and efficient testing programs. For instance, the Maryland State Department of Education partnered with ETS (Education Technology Services) to develop and deliver various high school assessment modules to schools in Maryland. This trend will have a positive impact on the growth of the global K-12 testing and assessment market during the forecast period.
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K-12 Testing and Assessment Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist K-12 testing and assessment market growth during the next five years
- Estimation of the K-12 testing and assessment market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the K-12 testing and assessment market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of K-12 testing and assessment market vendors
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- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019-2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Curriculum-based testing - Market size and forecast 2019-2024
- Non-curriculum-based testing - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Method
- Market segments
- Comparison by Method
- Blended method - Market size and forecast 2019-2024
- Online method - Market size and forecast 2019-2024
- Traditional method - Market size and forecast 2019-2024
- Market opportunity by Method
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver - Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- CogniFit Ltd.
- ETS Global BV
- Instructure Inc.
- MeritTrac Services Pvt Ltd.
- NIIT Ltd.
- Pearson Plc
- Providence Equity Partners LLC
- Scantron Inc.
- Think & Learn Pvt. Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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