Higher Education Testing and Assessment Market Recorded a 3.57% Y-O-Y Growth Rate in 2021, Drivers, Vendor & Segmentation Assessment - Technavio

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Jul 12, 2022, 01:45 ET

NEW YORK, July 12, 2022 /PRNewswire/ -- The higher education testing and assessment market size is set to grow by USD 5.13 billion from 2020 to 2025, progressing at a CAGR of 5.55% according to the latest market forecast report by Technavio. The adoption of formative assessments by educational institutions is one of the major factors driving the higher education testing and assessment market growth. In recent years, formative assessments have been gaining traction from several educational institutions. The performance of the students and the interaction between students and faculty are enhanced with the adoption of formative assessments. The adoption of formative assessments is encouraged by initiatives such as Re-Engineering Assessment Practices (REAP).  However, the weak assessment mechanism of online tests will hamper the market

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Higher Education Testing and Assessment Market 2021-2025: Scope

 Our higher education testing and assessment market report covers the following areas:

Higher Education Testing and Assessment Market 2021-2025: Vendor Assessment

 The higher education testing and assessment market are fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.  Aspiring Minds Inc., Edutech, IOTA360 LLC., McGraw-Hill Education Inc., MeritTrac Services Pvt Ltd., Mettl Online Assessment, Mindlogicx, Pearson Plc, Scantron Corp., and Wheebox are some of the major market participants.

  • Aspiring Minds Inc - The company offers various assessments such as behavioral tests, personality tests, and more.
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Higher Education Testing and Assessment Market 2021-2025: Segmentation Assessment

  • Product
    • Academic
    • Non-academic
  • Revenue Generating Segment - The higher education testing and assessment market share growth by the academic segment will be significant for revenue generation. The academic segment comprises tests and assessments for subjects such as science, technology, engineering, and mathematics (STEM), which are considered a part of the core curriculum. The advent of technologies such as learning management systems (LMS) and Content management systems (CMS) and the rising demand for innovative personalized technologies such as adaptive learning has increased the adoption of digital technologies for academic testing and assessment in higher educational institutions.
  • Geography
    • North America
    • Europe
    • APAC
    • MEA
    • South America
  • Regional Analysis: 42% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for higher education testing and assessment in North America. However, the market growth rate in North America will be slower than the growth of the market in other regions. Several higher educational institutions in North America are adopting various testing and assessment modules and innovative technologies such as adaptive learning and learning analytics.

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Higher Education Testing and Assessment Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist higher education testing and assessment market growth during the next five years
  • Estimation of the higher education testing and assessment market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the higher education testing and assessment market
  • Analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of higher education testing and assessment market vendors

Related Reports:

Higher Education Testing And Assessment Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.55%

Market growth 2021-2025

USD 5.13 billion

Market structure

Fragmented

YoY growth (%)

3.57

Performing market contribution

North America at 42%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Aspiring Minds Inc., Edutech, IOTA360 LLC., McGraw-Hill Education Inc., MeritTrac Services Pvt Ltd., Mettl Online Assessment, Mindlogicx, Pearson Plc, Scantron Corp., and Wheebox

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the 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 :

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Academic - Market size and forecast 2020-2025
  • Non-academic - Market size and forecast 2020-2025
  • Market opportunity by Product

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Aspiring Minds Inc.
  • Edutech
  • IOTA360 LLC.
  • McGraw-Hill Education Inc.
  • MeritTrac Services Pvt Ltd.
  • Mettl Online Assessment
  • Mindlogicx
  • Pearson Plc
  • Scantron Corp.
  • Wheebox

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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