Test Preparation Market in the US to grow by USD 10.72 billion through 2024 | Impacts of Drivers and Challenges | Technavio

NEW YORK, May 26, 2021 /PRNewswire/ -- Technavio has been monitoring the test preparation market in the US and it is poised to grow by USD 10.72 billion during 2020-2024, progressing at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Frequently Asked Questions:

• Based on segmentation by the product, which is the leading segment in the market?
  The university exams are the leading segment in the market.
• At what rate is the market projected to grow?
  The market is projected to accelerate at a CAGR of over 6%.
• Who are the top players in the market?
  ArborBridge Inc., Cengage Learning Holdings II Inc., Club Z! Inc., Edgenuity Inc., Instructure Inc., Kaplan Inc., McGraw-Hill Education Inc., Pearson Plc, Providence Equity Partners LLC, and TPR Education IP Holdings LLC. are the top players in the market.
• What are the key market drivers and challenges?
  The market is driven by the use of analytical tools in test preparations. However, the availability of open-source test preparation materials will challenge the growth of the market

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ArborBridge Inc., Cengage Learning Holdings II Inc., Club Z! Inc., Edgenuity Inc., Instructure Inc., Kaplan Inc., McGraw-Hill Education Inc., Pearson Plc, Providence Equity Partners LLC, and TPR Education IP Holdings LLC. are some of the major market participants. Although the use of analytical tools in test preparations will offer immense growth opportunities, the availability of open-source test preparation materials is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this test preparation market in the US forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

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Test Preparation Market in US 2020-2024: Segmentation
Test Preparation Market in the US is segmented as below:

• Product
  o   University Exams
  o   Certification Exams
  o   High School Exams
  o   Elementary Exams
  o   Other Exams
• End-user
  o   Higher Education
  o   K-12
• Market Landscape
  o   Blended
  o   Online

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Test Preparation Market in the US 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The test preparation market in the US report covers the following areas:

• Test Preparation Market in US Size
• Test Preparation Market in US Trends
• Test Preparation Market in US Industry Analysis

This study identifies technological advances in test preparation services as one of the prime reasons driving the Test Preparation Market in the US growth during the next few years.

Test Preparation Market in the US 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist test preparation market growth in the US  during the next five years
• Estimation of the test preparation market size in the US  and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the test preparation market in the US
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the test preparation market vendors in the US

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Table of Contents:

1. Executive Summary                 
2. Market Landscape                        

2.1 Market ecosystem 

Exhibit 01:  Parent market  

Exhibit 02:  Market characteristics  

2.2 Value chain analysis

Exhibit 03:  Value chain analysis

2.2.1 Inputs  

2.2.2 Operations    

2.2.2.1   Pitching and profiling

2.2.2.2   Resourcing and communicating

2.2.2.3   Delivery and support

2.2.2.4   Connecting and innovating

2.2.2.5   Marketing and sales

2.2.2.6   Support activities

2.2.2.7   Innovations

3. Market Sizing                             

3.1 Market definition   

Exhibit 04:  Offerings of vendors included in the market definition           

3.2 Market segment analysis     

Exhibit 05:  Market segments   

3.3 Market size 2019     

3.4 Market outlook: Forecast for 2019 - 2024     

Estimating growth rates for emerging and high-growth markets

Estimating growth rates for mature markets      

 Exhibit 06:  Global - Market size and forecast 2019-2024 ($ billion)           

Exhibit 07:  Global market: Year-over-year growth 2019-2024 (%)             

4. Five Forces Analysis                 

4.1 Five Forces Summary            

 Exhibit 08: Five forces analysis 2019 & 2024        

4.2 Bargaining power of buyers

4.3 Bargaining power of suppliers           

4.4 Threat of new entrants        

4.5 Threat of substitutes             

4.6 Threat of rivalry       

4.7 Market condition    

Market condition - Five forces 2019        

5. Market Segmentation by Product                     
The test preparation market in the US by university exams is expected to record a significant growth rate during the forecast period. The rising number of enrollments in nationalized as well as standardized tests in the US and rising demand for private tutoring because of increased competition among the students are the prominent factors driving the market.   

5.1 Market segments   

Exhibit 15:  Product - Market share 2019-2024 (%)          

5.2 Comparison by Product        

5.3 University exams - Market size and forecast 2019-2024           

Exhibit 17:  University exams - Market size and forecast 2019-2024 ($ billion)      

Exhibit 19:  University exams - Year-over-year growth 2019-2024 (%)      

5.4 Certifications exams - Market size and forecast 2019-2024    

Exhibit 20:  Certifications exams - Market size and forecast 2019-2024 ($ billion)

Exhibit 22:  Certifications exams - Year-over-year growth 2019-2024 (%)

5.5 High school Exams - Market size and forecast 2019-2024        

Exhibit 23:  High school Exams - Market size and forecast 2019-2024 ($ billion)   

Exhibit 25:  High school Exams - Year-over-year growth 2019-2024 (%)   

5.6 Elementary exams - Market size and forecast 2019-2024        

Exhibit 26:  Elementary exams - Market size and forecast 2019-2024 ($ billion)   

Exhibit 28:  Elementary exams - Year-over-year growth 2019-2024 (%)   

5.7 Other exams - Market size and forecast 2019-2024   

Exhibit 29:  Other exams - Market size and forecast 2019-2024 ($ billion)

Exhibit 31:  Other exams - Year-over-year growth 2019-2024 (%)

5.8 Market opportunity by Product        

6. Market Segmentation by End-user               
The higher education segment dominated the market in 2019 and is expected to grow at a steady growth rate. Increasing demand for certification courses, along with an increase in the number of students opting for competitive exams, drives the segment. In the higher education segment, the demand for specialized courses is high, as students increasingly opt for professional education  

6.1 Market segments   

6.2 Comparison by Deployment

6.3 Higher Education - Market size and forecast 2019-2024          

Exhibit 35:  Higher Education - Market size and forecast 2019-2024 ($ billion)      

Exhibit 37:  Higher Education - Year-over-year growth 2019-2024 (%)     

6.4 K-12 - Market size and forecast 2019-2024    

Exhibit 38:  K-12 - Market size and forecast 2019-2024 ($ billion)

Exhibit 40:  K-12 - Year-over-year growth 2019-2024 (%)

6.5 Market opportunity by End-user      

7. Market Segmentation by Learning Model      
The blended test preparation market in the US was valued at $20.18 billion in 2019 and is expected to grow at a CAGR of 5.60% during the forecast period.      

7.1 Market segments   

7.2 Comparison by Learning Model        

7.3 Blended - Market size and forecast 2019-2024            

Exhibit 44:  Blended - Market size and forecast 2019-2024 ($ billion)       

Exhibit 46:  Blended - Year-over-year growth 2019-2024 (%)       

7.4 Online - Market size and forecast 2019-2024

Exhibit 47:  Online - Market size and forecast 2019-2024 ($ billion)           

Exhibit 49:  Online - Year-over-year growth 2019-2024 (%)          

7.5 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    

9. Drivers, Challenges, and Trends                         

9.1 Volume driver – Demand led growth

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 unorganized sector

9.2.2      Rising number of test-optional institutes             

9.2.3      Increase in education debts       

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 number of startups          

10. Vendor Landscape                  

10.1 Overview 

10.2        Vendor landscape          

Analysis of Criticality of inputs and Factors of differentiation      

10.3 Landscape disruption          

Techanavio's Analysis on the impact of Disruption Threats by comparing Disruptive sources and Factors driving disruption           

Industry risks   

11. Vendor Analysis                      

11.1 Vendors covered  

11.2 Market positioning of vendors       

11.3 ArborBridge Inc.   

Overview           

Business Segments        

Key Offering     

Segment Focus

11.4 Cengage Learning Holdings II Inc.   

Overview           

Business Segments        

Key Offering     

Segment Focus

11.5 Club Z! Inc.

Overview           

Business Segments        

Key Offering     

Segment Focus

11.6 Edgenuity Inc.        

Overview           

Business Segments        

Key Offering     

Segment Focus

11.7 Instructure Inc.      

Overview           

Business Segments        

Key Offering     

Segment Focus

11.8 Kaplan Inc.

Overview           

 Business Segments        

Key Offering     

Segment Focus

11.9 McGraw-Hill Education Inc.

Overview           

Business Segments        

Key Offering     

Segment Focus

11.10 Pearson Plc           

Overview           

Business Segments        

Key Offering     

Segment Focus

11.11 Providence Equity Partners LLC    

Overview           

Business Segments        

Key Offering     

Segment Focus

11.12 TPR Education IP Holdings LLC      

Overview           

Business Segments        

Key Offering     

 Segment Focus

12. Appendix                   

12.1 Scope of the report             

12.2 Currency conversion rates for US$

Research Methodology

Validation techniques employed for market sizing           

12.3 List of abbreviations

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