K-12 testing and assessment: Key market research findings
- Focus on CBE drives market growth
- Academic segment accounts for a majority of the market’s revenue
- Key vendors – Edutech, MeritTrac, Pearson Education, and Scantron
The market research analysts at Technavio predict the global K-12 testing and assessment market to grow at a CAGR of around 6% between 2016 and 2020. The growing focus on competency-based education (CBE) is the driving force behind the rising demand for K-12 testing and assessment, globally. CBE provides equal learning opportunities to every learner, irrespective of geographic and financial constraints. This form of education also has the potential to narrow down the workforce skills gap, which most corporations believe to be an inherent challenge to tackle. During 2015, the global K-12 learning and assessment market was dominated by North America with a market share of more than 34%. Increased awareness about the benefits of integrating testing and assessment tools into schools in the region is expected to fuel further growth in the K-12 testing and assessment market in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the K-12 testing and assessment segments based on the product.
“The market is currently witnessing an increase in the number of standardized test-optional institutions. Standardized tests such as SAT, ACT, GRE and Gaokao are a mandate for all students aspiring to pursue higher education in universities and educational institutions. However, the number of universities that use their own exams for admissions is on a rise currently. Such universities prefer considering students’ high school records to predict college performance,” says Jhansi Mary, Lead Analyst, Education, Technavio Research.
In 2015, the academic segment dominated the global market by accounting for almost 68% of the overall market revenue. Vendors and educational institutions across the globe make use of various components such as testing, observation, and performance-based tasks to determine students’ capabilities. Vendors also incorporate computer-adaptive tests, fixed-form tests, and rubric-based assessment to support the goals that measure and understand the dynamics of the learning process.
The key vendors in the global K-12 testing and assessment market include Edutech, MeritTrac, Pearson Education, and Scantron. Traditional vendors are investing in R&D to introduce industry-specific software to tap into the revenue potential schools represent. New players are entering the market, either at a global or regional level, are developing solutions that can be accessed through on premise and on cloud. They are also entering into partnerships with IT service providers to enhance cloud service for schools.
A more detailed analysis is available in the Technavio report, Global K-12 Testing and Assessment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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