(MENAFN- PR Newswire)
NEW YORK, May 9, 2022 /PRNewswire/ -- The test preparation market in the US has been categorized as a part of the global education services market. The market size is expected to grow by USD 11.93 bn from 2021 to 2026. Moreover, the growth momentum of the market will progress at a CAGR of 6.39% during the forecast period.
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Technavio has announced its latest market research report titled Test Preparation Market in the US by Learning Model, End-user, and Product - Forecast and Analysis 2022-2026
Test Preparation Market in the US: Driver
The increasing use of analytical tools in test preparations is driving the growth of the test preparation market in the US. Analytical tools provide effective and efficient test preparation modules and also offer various insights that can be used by teachers, trainers, and students to identify their progress by means of reporting tools, which optimizes the entire learning process. Such tools help educators identify program trends. For instance, Kaplan provides various Kaplan Partner Solutions (KPS) that consist of test preparation programs offering performance analysis tools. Similarly, USATestprep offers custom assessments that incorporate a diagnostic assessment system that provides a performance snapshot at the student, class, school, and district levels using various analytical tools.
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Test Preparation Market In The US: Trend
Technological advances in test preparation services is one of the key trends in the market. The growing tech-savvy population and the rising adoption of tablets, mobile phones, and other mobile devices have led to an increase in the demand for technologically advanced modes of delivery as well as innovative test preparation through the incorporation of various visual technologies. Moreover, educators are focusing on visual technologies such as AR and VR. For instance, MITAR games developed by the Massachusetts Institute of Technology's Teacher Education Program and The Education Arcade blend real-life locations with virtual individuals and scenarios to enhance the learning skills of the student. These factors fuel the growth of the test preparation market in the US.
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Test Preparation Market In The US: Segmentation Analysis
This report segments the test preparation market in the US by product (university exams, certifications exams, high school exams, elementary exams, and other exams) and end-user (higher education and K-12).
By product, the university exams segment will have significant market share growth during the forecast period. The rising number of enrollments in nationalized as well as standardized tests in the US and the increasing demand for private tutoring because of increased competition among students are some of the prominent factors driving the market. Therefore, there has been an increase in the demand for SAT and ACT test preparation courses. In addition, the rising interest in exams such as Graduate Record Examinations (GRE), Graduate Management Admission Test (GMAT), and Law School Admission Test (LSAT) has prompted test preparation course providers to increase their product portfolio.
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| Test Preparation Market in the US Scope |
| Report Coverage | Details |
| Page number | 120 |
| Base year | 2021 |
| Forecast period | 2022-2026 |
| Growth momentum & CAGR | Accelerate at a CAGR of 6.39% |
| Market growth 2022-2026 | USD 11.93 billion |
| Market structure | Fragmented |
| YoY growth (%) | 5.61 |
| Regional analysis | US |
| Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
| Key companies profiled | ArborBridge Inc., Cengage Learning Holdings II Inc, Club Z Inc., CogniFit Inc., Edgenuity Inc., Graham Holdings Co., Instructure Inc., McGraw Hill Education Inc., Pearson Plc, and TPR Education IP Holdings LLC |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1. Executive Summary
1.1 Market overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 5
Exhibit 04: Key Finding 6
Exhibit 05: Key Finding 7
Exhibit 06: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
Exhibit 07: Parent market
Exhibit 08: Market characteristics
2.2 Value chain analysis
Exhibit 09: Value chain analysis: Education services
2.2.1 Inputs
2.2.2 Operations
2.2.3 Marketing and sales
2.2.4 Support activities
2.2.5 Innovations
3. Market Sizing
3.1 Market definition
Exhibit 10: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 11: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
Exhibit 12: US - Market size and forecast 2021 - 2026 ($ million)
Exhibit 13: US market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 14: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 15: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 16: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 17: Threat of new entrants
4.5 Threat of substitutes
Exhibit 18: Threat of substitutes
4.6 Threat of rivalry
Exhibit 19: Threat of rivalry
4.7 Market condition
Exhibit 20: Market condition - Five forces 2021
5. Market Segmentation by Product
5.1 Market segments
Exhibit 21: Product - Market share 2021-2026 (%)
5.2 Comparison by Product
Exhibit 22: Comparison by Product
5.3 University exams - Market size and forecast 2021-2026
Exhibit 23: University exams - Market size and forecast 2021-2026 ($ million)
Exhibit 24: University exams - Year-over-year growth 2021-2026 (%)
5.4 Certifications exams - Market size and forecast 2021-2026
Exhibit 25: Certifications exams - Market size and forecast 2021-2026 ($ million)
Exhibit 26: Certifications exams - Year-over-year growth 2021-2026 (%)
5.5 High school exams - Market size and forecast 2021-2026
Exhibit 27: High school exams - Market size and forecast 2021-2026 ($ million)
Exhibit 28: High school exams - Year-over-year growth 2021-2026 (%)
5.6 Elementary exams - Market size and forecast 2021-2026
Exhibit 29: Elementary exams - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Elementary exams - Year-over-year growth 2021-2026 (%)
5.7 Other exams - Market size and forecast 2021-2026
Exhibit 31: Other exams - Market size and forecast 2021-2026 ($ million)
Exhibit 32: Other exams - Year-over-year growth 2021-2026 (%)
5.8 Market opportunity by Product
Exhibit 33: Market opportunity by Product
6. Market Segmentation by End-user
6.1 Market segments
Exhibit 34: End-user - Market share 2021-2026 (%)
6.2 Comparison by End-user
Exhibit 35: Comparison by End-user
6.3 Higher education - Market size and forecast 2021-2026
Exhibit 36: Higher education - Market size and forecast 2021-2026 ($ million)
Exhibit 37: Higher education - Year-over-year growth 2021-2026 (%)
6.4 K-12 - Market size and forecast 2021-2026
Exhibit 38: K-12 - Market size and forecast 2021-2026 ($ million)
Exhibit 39: K-12 - Year-over-year growth 2021-2026 (%)
6.5 Market opportunity by End-user
Exhibit 40: Market opportunity by End-user
7. Market Segmentation by Learning model
7.1 Market segments
Exhibit 41: Learning model - Market share 2021-2026 (%)
7.2 Comparison by Learning model
Exhibit 42: Comparison by Learning model
7.3 Blended - Market size and forecast 2021-2026
Exhibit 43: Blended - Market size and forecast 2021-2026 ($ million)
Exhibit 44: Blended - Year-over-year growth 2021-2026 (%)
7.4 Online - Market size and forecast 2021-2026
Exhibit 45: Online - Market size and forecast 2021-2026 ($ million)
Exhibit 46: Online - Year-over-year growth 2021-2026 (%)
7.5 Market opportunity by Learning model
Exhibit 47: Market opportunity by Learning model
8. Customer landscape
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
8.1 Overview
Exhibit 48: Customer landscape
9. Drivers, Challenges, and Trends
9.1 Market drivers
9.1.1 Increasing use of analytical tools in test preparations
9.1.2 Increasing emphasis on online mode of test preparation
9.1.3 Rising demand for test preparation services in the US
9.2 Market challenges
9.2.1 Availability of open-source test preparation materials and growth of the unorganized sector
9.2.2 Rising number of test-optional institutes
9.2.3 Increase in education debts
Exhibit 49: Impact of drivers and challenges
9.3 Market trends
9.3.1 Technological advances in test preparation services
9.3.2 Rising emphasis on private tutoring
9.3.3 Increase in M&A activities and the number of startups
10. Vendor Landscape
10.1 Competitive scenario
Exhibit 50: Vendor landscape
10.2 Landscape disruption
Exhibit 51: Landscape disruption
Exhibit 52: Industry risks
11. Vendor Analysis
11.1 Vendors covered
Exhibit 53: Vendors covered
11.2 Market positioning of vendors
Exhibit 54: Matrix on vendor position and classification
11.3 ArborBridge Inc.
Exhibit 55: ArborBridge Inc. - Overview
Exhibit 56: ArborBridge Inc. - Product and service
Exhibit 57: ArborBridge Inc. - Key offerings
11.4 Cengage Learning Holdings II Inc
Exhibit 58: Cengage Learning Holdings II Inc - Overview
Exhibit 59: Cengage Learning Holdings II Inc - Business segments
Exhibit 60: Cengage Learning Holdings II Inc - Key News
Exhibit 61: Cengage Learning Holdings II Inc - Key offerings
Exhibit 62: Cengage Learning Holdings II Inc - Segment focus
11.5 Club Z Inc.
Exhibit 63: Club Z Inc. - Overview
Exhibit 64: Club Z Inc. - Product and service
Exhibit 65: Club Z Inc. - Key offerings
11.6 CogniFit Inc.
Exhibit 66: CogniFit Inc. - Overview
Exhibit 67: CogniFit Inc. - Product and service
Exhibit 68: CogniFit Inc. - Key offerings
11.7 Edgenuity Inc.
Exhibit 69: Edgenuity Inc. - Overview
Exhibit 70: Edgenuity Inc. - Product and service
Exhibit 71: Edgenuity Inc. - Key offerings
11.8 Graham Holdings Co.
Exhibit 72: Graham Holdings Co. - Overview
Exhibit 73: Graham Holdings Co. - Business segments
Exhibit 74: Graham Holdings Co. - Key News
Exhibit 75: Graham Holdings Co. - Key offerings
Exhibit 76: Graham Holdings Co. - Segment focus
11.9 Instructure Inc.
Exhibit 77: Instructure Inc. - Overview
Exhibit 78: Instructure Inc. - Product and service
Exhibit 79: Instructure Inc. - Key offerings
11.10 McGraw Hill Education Inc.
Exhibit 80: McGraw Hill Education Inc. - Overview
Exhibit 81: McGraw Hill Education Inc. - Business segments
Exhibit 82: McGraw Hill Education Inc. - Key offerings
Exhibit 83: McGraw Hill Education Inc. - Segment focus
11.11 Pearson Plc
Exhibit 84: Pearson Plc - Overview
Exhibit 85: Pearson Plc - Business segments
Exhibit 86: Pearson Plc - Key offerings
Exhibit 87: Pearson Plc - Segment focus
11.12 TPR Education IP Holdings LLC
Exhibit 88: TPR Education IP Holdings LLC - Overview
Exhibit 89: TPR Education IP Holdings LLC - Product and service
Exhibit 90: TPR Education IP Holdings LLC - Key offerings
12. Appendix
12.1 Scope of the report
12.1.1 Definition
12.1.2 Objectives
12.1.3 Notes and caveats
12.2 Currency conversion rates for US$
Exhibit 91: Currency conversion rates for US$
12.3 Research methodology
Exhibit 92: Research Methodology
Exhibit 93: Validation techniques employed for market sizing
Exhibit 94: Information sources
12.4 List of abbreviations
Exhibit 95: List of abbreviations
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