K-12 testing and assessment market size to grow by USD 9,895.67 million between 2022 and 2027; Growth driven by increasing use of analytics - Technavio
NEW YORK, March 31, 2023 /PRNewswire/ -- The K-12 testing and assessment market size is expected to grow by USD 9,895.67 million at a CAGR of 10.21% from 2022 to 2027, according to the latest research report from Technavio. The market is driven by the increasing use of analytics. Technological advances and the growing use of big data have increased the prominence of analytics in educational institutions. The inclusion of analytics is enabling schools to provide a personalized form of learning. Teachers and educators can use the captured data through analytics to identify the learning needs and provide a customized plan for students. They also provide a viable option to automate the testing and assessment function of teachers and educators. Many such benefits are increasing the use of analytics in the education sector, which is positively influencing the growth of the market. Here is an exclusive report talking about market scenarios, estimates, the impact of the lockdown, and customer behavior. Download a Sample Report!
The K-12 testing and assessment market report offers a comprehensive analysis of the strategies adopted by vendors and the trends, drivers, and challenges affecting the market size. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.
The K-12 testing and assessment market is segmented by product (curriculum-based testing and non-curriculum-based testing), method (blended method, online method, and traditional method), and geography (APAC, Europe, MEA, North America, and South America).
By product, the market growth will be significant in the curriculum-based testing segment during the forecast period. With the advent of digitization, end-users such as teachers and educational institutions are opting for a blended mode of testing. They are partnering with vendors that provide digital testing and assessment solutions for the K-12 industry. This is creating significant opportunities for vendors to capitalize in this segment.
North America will account for 46% of the market growth during the forecast period. Vendors operating in the region are investing in new technologies to have flexibility in the academic field. In addition, the increasing number of government initiatives to improve the quality of education and the overall development of students has encouraged many schools to incorporate testing and assessment tools into the curriculum. All these factors are driving the growth of the regional market.
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters. Download a Sample Report
The K-12 testing and assessment market covers the following areas:
The global K-12 testing and assessment market is fragmented due to the presence of many local and international players. Many vendors have a strong geographic presence with centers across multiple cities in various economies. Vendors are increasingly showing interest in regions such as APAC and the Middle East and Africa. This is because a significant amount of revenue is expected to generate from these regions. Vendors in these markets majorly compete on the method used and supporting features offered.
Anthology Inc. - The company offers a wide range of K-12 testing and assessments under the brand name Anthology.
CogniFit Inc. - The company offers a wide range of K-12 testing and assessments such as General Cognitive Assessment, Academic Cognitive Assessment (CAB A) and Concentration Cognitive Assessment (CAB AT).
Coursera Inc. - The company offers K-12 assessment named Active Learning and Assessment in K12 Blended and Online Learning.
D2L Corp. - The company offers interactive assessment tools under the brand name Brightspace.
The K-12 blended e-learning market is estimated to grow at a CAGR of 17.55% between 2022 and 2027. The size of the market is forecasted to increase by USD 2,4941.2 million. The market is segmented by product (hardware, content, system, solutions, and others), application (pre-primary school, primary school, middle school, and high school), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
The K-12 online tutoring market is estimated to grow at a CAGR of 12.34% between 2022 and 2027. The size of the market is forecast to increase by USD 97.66 billion. The market is segmented by type (structured tutoring and on-demand tutoring) and geography (APAC, North America, Europe, Middle East and Africa, and South America).
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, and market condition analysis for the forecast period.
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Exhibit 167: Validation techniques employed for market sizing
Exhibit 168: Information sources
13.5 List of abbreviations
Exhibit 169: List of abbreviations
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