Global Test Preparation Market, Trends & Growth Opportunity, By Test Type (GMAT, SAT, ACT, GRE, TOEFL, IELTS, LSAT, Others), By Education Level (High School, Undergraduate, Graduate, Others), By Mode (Self-Paced Online, Classroom Coaching, Online Tutoring, Others), By Region and Forecast till 2030.
Global Test Preparation Market
The Global Test Preparation Market was valued at USD 540.45 Mn in 2022 and is expected to expand to USD 825.68 Mn by 2030 at a CAGR of 5.33% during the forecast period of 2023-2030.
Test preparation refers to the various techniques and strategies used by individuals to prepare for standardized tests, such as college admissions exams, professional certification exams, and language proficiency tests. With increasing competition in various fields and the importance of such exams for career advancement, the demand for test preparation services has been on the rise. This has led to the emergence of various test preparation companies offering a range of services, including practice tests, online courses, tutoring, and study materials.
Market Drivers
The global test preparation market is driven by the increasing competition in the education sector, which is leading to a rise in the number of students taking admission to prestigious universities and colleges. This has increased the demand for test preparation courses and materials, as students strive to achieve better scores in competitive exams.
Additionally, the growing popularity of online education and the availability of test preparation courses and materials online has also contributed to the growth of the market. Furthermore, the increasing emphasis on career growth and development has led to a rise in the number of working professionals pursuing higher education, which has further boosted the demand for test preparation services.
Market Restraints
A significant restraint to the growth of the global test preparation market is the availability of free online resources, which offer similar test preparation materials and courses, often for little or no cost. Additionally, the lack of a standardized test format across different countries and regions makes it difficult for test preparation providers to create courses and materials that can cater to the needs of different students.
Another challenge is the high cost associated with test preparation services, which can make them unaffordable for many students. The limited access to technology and internet connectivity in some regions can also pose a challenge for online test preparation providers.
Market Segmentation
The global test preparation market is segmented by test types, such as GMAT, SAT, ACT, GRE, TOEFL, IELTS, LSAT, and others. Based on the education level, the market is segmented into high school, undergraduate, graduate, and others. Further, the market is segmented by modes, such as self-paced online, classroom coaching, online tutoring, and others.
Regional Analysis
North America dominates the market due to the presence of major players in the region, such as Kaplan and The Princeton Review. The presence of several standardized tests for admissions into various programs at the undergraduate and graduate levels is also helping the region maintain its dominance.
The Asia-Pacific region is expected to witness fast growth due to the increasing number of students opting for higher education and competitive exams, coupled with the rising adoption of technology in education. The region is home to some of the largest populations in the world, such as China and India, which creates a massive demand for test preparation services. Additionally, government initiatives and reforms aimed at improving education standards and increasing enrollment rates in higher education institutions are also expected to drive the growth of the test preparation market in the Asia-Pacific region.
Key Players
Pearson Education, Kaplan Inc, The Princeton Review, Allen Institute, McGraw Hill, Magoosh, Byju's, Career Launcher, ArborBridge Inc, Triumphant Institute of Management Education, Sylvan Learning, Knewton, Aakash Educational Services Limited, Exam Edge, BenchPrep, New Oriental Education & Technology Group.
Market Taxonomy
By Test Type
• GMAT
• SAT
• ACT
• GRE
• TOEFL
• IELTS
• LSAT
• Others
By Education Level
• High School
• Undergraduate
• Graduate
• Others
By Mode
• Self-Paced Online
• Classroom Coaching
• Online Tutoring
• Others
By Region
• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Rest of Europe)
• Asia Pacific (China, India, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa)
Global Test Preparation Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Test Preparation Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Test Preparation Market, By Test Type
5.1 Y-o-Y Growth Comparison, By Test Type
5.2 Global Test Preparation Market Share Analysis, By Test Type
5.3 Global Test Preparation Market Size and Forecast, By Test Type
5.3.1 GMAT
5.3.2 SAT
5.3.3 ACT
5.3.4 GRE
5.3.5 TOEFL
5.3.6 IELTS
5.3.7 LSAT
8.3.8 Others
6 Global Test Preparation Market, By Education Level
6.1 Y-o-Y Growth Comparison, By Education Level
6.2 Global Test Preparation Market Share Analysis, By Education Level
6.3 Global Test Preparation Market Size and Forecast, By Education Level
6.3.1 High School
6.3.2 Undergraduate
6.3.3 Graduate
6.3.4 Others
7 Global Test Preparation Market, By Mode
7.1 Y-o-Y Growth Comparison, By Mode
7.2 Global Test Preparation Market Share Analysis, By Mode
7.3 Global Test Preparation Market Size and Forecast, By Mode
7.3.1 Self-Paced Online
7.3.2 Classroom Coaching
7.3.3 Online Tutoring
7.3.4 Others
8 Global Test Preparation Market, By Region
8.1 Global Test Preparation Market Share Analysis, By Region
8.2 Global Test Preparation Market Size and Forecast, By Region
9 North America Test Preparation Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 North America Test Preparation Market Share Analysis, By Test Type
9.3 North America Test Preparation Market Size and Forecast, By Education Level
9.4 North America Test Preparation Market Size and Forecast, By Mode
9.5 North America Test Preparation Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Test Preparation Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Europe Test Preparation Market Share Analysis, By Test Type
10.3 Europe Test Preparation Market Size and Forecast, By Education Level
10.4 Europe Test Preparation Market Size and Forecast, By Mode
10.5 Europe Test Preparation Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4 Rest of Europe
11 Asia Pacific Test Preparation Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Asia Pacific Test Preparation Market Share Analysis, By Test Type
11.3 Asia Pacific Test Preparation Market Size and Forecast, By Education Level
11.4 Asia Pacific Test Preparation Market Size and Forecast, By Mode
11.5 Asia Pacific Test Preparation Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4 Rest of Asia
12 Latin America Test Preparation Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Latin America Test Preparation Market Share Analysis, By Test Type
12.3 Latin America Test Preparation Market Size and Forecast, By Education Level
12.4 Latin America Test Preparation Market Size and Forecast, By Mode
12.5 Latin America Test Preparation Market Size and Forecast, By Country
12.5.1 Brazil
12.5.2 Rest of Latin America
13 Middle East Test Preparation Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Middle East Test Preparation Market Share Analysis, By Test Type
13.3 Middle East Test Preparation Market Size and Forecast, By Education Level
13.4 Middle East Test Preparation Market Size and Forecast, By Mode
13.5 Middle East Test Preparation Market Size and Forecast, By Country
13.5.1 Saudi Arabia
13.5.2 UAE
13.5.3 Egypt
13.5.4 Kuwait
13.5.5 South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Pearson Education
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Kaplan Inc
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 The Princeton Review
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Allen Institute
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 McGraw Hill
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Magoosh
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Byju's
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Career Launcher
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 ArborBridge Inc
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Triumphant Institute of Management Education
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
15.11 Sylvan Learning
15.11.1 Overview
15.11.2 Offerings
15.11.3 Key Financials
15.11.4 Business Segment & Geographic Overview
15.11.5 Key Market Developments
15.11.6 Key Strategies
15.12 Knewton
15.12.1 Overview
15.12.2 Offerings
15.12.3 Key Financials
15.12.4 Business Segment & Geographic Overview
15.12.5 Key Market Developments
15.12.6 Key Strategies
15.13 Aakash Educational Services Limited
15.13.1 Overview
15.13.2 Offerings
15.13.3 Key Financials
15.13.4 Business Segment & Geographic Overview
15.13.5 Key Market Developments
15.13.6 Key Strategies
15.14 Exam Edge
15.14.1 Overview
15.14.2 Offerings
15.14.3 Key Financials
15.14.4 Business Segment & Geographic Overview
15.14.5 Key Market Developments
15.14.6 Key Strategies
15.15 BenchPrep
15.15.1 Overview
15.15.2 Offerings
15.15.3 Key Financials
15.15.4 Business Segment & Geographic Overview
15.15.5 Key Market Developments
15.15.6 Key Strategies
15.16 New Oriental Education & Technology Group
15.16.1 Overview
15.16.2 Offerings
15.16.3 Key Financials
15.16.4 Business Segment & Geographic Overview
15.16.5 Key Market Developments
15.16.6 Key Strategies
