Education ReportsUS and Canada

US Test Preparation Market to 2021- Market Size and Intelligence Report

 

Number of Pages: 82

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The report ‘US Test Preparation Market to 2021’ is a comprehensive study on test preparation for various standardized tests in the US. The report discusses the current and forecasted market size of test preparation space, followed by the key trends, as well as drivers that will impact growth of the sector.

It discusses the five forces analysis of test preparation, as well as the PEST analysis of the US, with respect to the test preparation market. The report follows the NAICS code 611691 (Exam Preparation & Tutoring Industry), and also mentions the key test preparation players in the US.


Research Methodology

Market size of test preparation sector is defined as the total revenue generated by the sector. It is a product of the total number of test takers who took test preparation, and the ticket size of various test preparation resources.

All the data present in this report is sourced through legal and ethical competitive intelligence. The research includes both secondary research, as well as primary research including interviews and surveys.

Secondary Research
Secondary research was conducted to gather relevant, latest and authentic data from various sources. This data is used to understand the sector, identify various trends and players, and calculate the number of students taking various tests. The sources used for secondary data include:

  • White Papers, Reports, and Research Material from Test Makers
  • White Papers, Reports, and Research Material from various government organizations
  • Analyst Reports
  • Annual Reports and Filings
  • Companies’ Social Media Activities
  • Company Websites
  • Events and Conferences
  • Industry Organizations
  • Webinars and News Releases

Primary Research
More than 1,000 students were surveyed and more than 30 test preparation providers were interviewed for this report. Data and insights from them were used to determine various factors, such as:

  • % of students taking full–time tuitions, online tuitions, study material etc.
  • Psyche of students, while spending on test preparation.
  • Average fee for various types of tuitions, study material and books.

The sample size was kept a minimum 1,000 students and 30 test preparation providers, so as to get a normal distribution bell curve, without any exceptions and variances.

The test preparation sector for standardized tests in the US is estimated to be US$XX.XX billion by the end of 2016. Test preparation done at school level constitutes XX.XX% of the market, while preparation at undergraduate, and postgraduate and professional level constitute XX.XX% and XX.XX% respectively.

At the school level, the major tests that constitute approximately three–fourth of the test preparation revenue are the AP Tests, PSAT/NMSQT, and GED. At the undergraduate level, ACT constitutes almost half of the market, followed by an approximately XX.XX% share by SAT.  At postgraduate and professional level, the major tests are GRE, GMAT and LSAT.

Full–time coaching and private tutoring, because of its high-ticket size, constitute approximately XX.XX% of the test preparation market. It is followed by online tutoring at approximately XX.XX% of the market.

There is a major difference between the dynamics of test preparation space for school and undergraduate education — and postgraduate and higher education. Since more students, in case of school and undergraduate education, take full–time coaching and private tutoring, the average fee for the same is high, and the average price of books and online study material is low. While, in case of postgraduate and professional education, the average price of books and online study material is high, as more test takers prefer them over full–time coaching and private tutoring.

The sector is witnessing several trends, such as colleges and universities dropping standardized tests, increasing competition from free substitutes, and online test preparation providers from across the globe.

The test preparation sector for standardized tests in the US is forecasted to reach US$XX.XX billion by 2021, growing at a compound annual growth rate (CAGR) of XX.XX%. The growth will be driven by several factors such as growth in population and more financial stability in the US, increase in employment, more use of technology, and increased demand from students from other countries.

  • Market size of US test preparation sector
    • Test Preparation for Standardized Tests at School Level
    • Test Preparation for Standardized Tests at Undergraduate Level
    • Test Preparation for Standardized Tests at Postgraduate and Professional Level
  • Types of Test Preparation for Standardized Tests
  • Type of Test Preparation — By Segment Growth
  • Forecasted Market Size of US Test Preparation Sector
  • Drivers Impacting growth of US Test Preparation
    • Growth in Population
    • Financial Stability Linked to Education
    • Increasing Internet Penetration
    • Demand from Other Countries
  • Trends in the US Test Preparation Space
    • Colleges and Universities dropping Standardized Tests
    • Increasing Competition from Free Substitutes
    • Focus on Online Test Preparation
    • Test Preparation Companies going for Expansion
    • Investments in the US Test Preparation Space
  • Five Forces Analysis of the US Test Preparation Sector
    • Threat of New Entrants
    • Threats of Substitutes
    • Bargaining Power of Buyers
    • Bargaining Power of Suppliers
    • Intensity of Competitive Rivalry
  • Pest Analysis of US Test Preparation Sector
    • Political
    • Economic
    • Social
    • Technological
  • List of Players
    • Test Makers
      • ACT, Inc.
      • American Council on Education
      • Association of American Medical Colleges
      • College Board
      • Educational Testing Service
      • Graduate Management Admission Council
      • Law School Admission Council
    • Third–party test providers
      • Barron’s Educational Series
      • Houghton Mifflin Harcourt
      • Huntington Learning Centers
      • Kaplan, Inc.
      • Knewton, Inc.
      • McGraw–Hill Education
      • Manhattan Review
      • PowerScore, Inc.
      • The Princeton Review
      • Veritas Prep
  • Annexure

List of Figures

  • Figure 1: US test preparation market size — 2016 (E)
  • Figure 2: US test preparation market size — School Level Tests — 2016 (E)
  • Figure 3: US test preparation market size — Undergraduate Level Tests — 2016 (E)
  • Figure 4: US test preparation market size — Postgraduate and Professional Level Tests — 2016 (E)
  • Figure 5: US test preparation market size — By types of test preparation — 2016 (E)
  • Figure 6: Market size of test preparation in the US — Books, Practice Tests and Study Material — 2013–2016 (E)
  • Figure 7: Market size of test preparation in the US — Full–time coaching and private tutoring — 2013–2016 (E)
  • Figure 8: Market size of test preparation in the US — Online tutoring — 2013–2016 (E)
  • Figure 9: Market size of test preparation in the US — Mobile Applications — 2013–2016 (E)
  • Figure 10: Growth rate of market size of test preparation in the US — By types of test preparation — 2013–2016 (E)
  • Figure 11: Market size of test preparation in the US — By Types and Levels of Preparation — 2013–2016 (E)
  • Figure 12: Forecasted Market Size of US Test Preparation — 2016 (E)–2021 (F)
  • Figure 13: Population of US — 2016 (E)–2021 (F)
  • Figure 14: Population of US — By Test Preparation Age Group — 2016 (E)
  • Figure 15: Median earnings in the US — By educational attainment
  • Figure 16: Unemployment rate in the US — By educational attainment
  • Figure 17: US Internet penetration
  • Figure 18: US fixed broadband subscribers
  • Figure 19: US Internet usage – By age-group
  • Figure 20: US Internet usage – By educational attainment
  • Figure 21: US Internet usage – places of accessing internet — By age-group
  • Figure 22: Student Visa (F1) Issued by the US — 2010–2016
  • Figure 23: % of student visa (F1) issued by the US — by countries — 2016
  • Figure 24: % of US to non–US test–takers in standardized tests — 2016
  • Figure 25: Five forces analysis of the US test preparation space
  • Figure 26: US government funding in education — 2015–2021(F)
  • Figure 27: US education budget — % of total budget — 2015–2021 (F)
  • Figure 28: US higher education budget — % of total education budget — 2017(F)
  • Figure 29: US gross domestic product, constant prices — 2015–2021(F)
  • Figure 30: US gross national savings — 2015–2021(F)
  • Figure 31: US Inflation — average consumer prices — 2015–2021(F)
  • Figure 32: % Enrollment in the US — By age groups — 2016
  • Figure 33: % Enrollment in the US — By gender
  • Figure 34: % Enrollment in the US — By nativity
  • Figure 35: % of Employed undergraduate students in the US
  • Figure 36: US Gross enrollment ratio — Primary, Secondary, Tertiary
  • ACT
  • Admissions Hero
  • American Council on Education
  • Anna Maria College
  • Apollo Global Management
  • Association of American Medical Colleges
  • Atlas Venture
  • Barron’s Educational Series
  • Boston Latin School
  • College Board
  • CollegeVine
  • Columbia University
  • Educational Testing Service
  • EMPOWERgre
  • FairTest
  • Graduate Management Admission Council
  • gWhiz
  • Hampshire College
  • Higher Learning Technologies
  • Houghton Mifflin Harcourt
  • Huntington Learning Center
  • Kaplan Test Prep
  • Khan Academy
  • Knewton
  • Law School Admission Council
  • LTG Exam Platform
  • Macmillan Education
  • Magoosh
  • Manhattan Review
  • Match Group
  • McGraw–Hill Education
  • National Center for Fair & Open Testing
  • OpenEd
  • Pacific Metrics
  • Pearson Education
  • Penguin Random House
  • Powerscore
  • PrepFactory
  • Princeton University
  • Shmoop
  • Square Peg Capital
  • ST Unitas
  • TestMax
  • The Princeton Review
  • TPR Education
  • Triumph Learning
  • Tutor.com
  • University of Delaware
  • Varsity Tutors
  • Veritas Prep
  • WeSpeke
  • Worcester State University
  • Yale University