School assessment tools in APAC: Key market research findings
- Emphasis on STEM education drives market growth
- Secondary education segment accounts for a majority share of the market’s revenue
- Key vendors – Educomp Solutions, LITERATU, Next Education, and UMeWorld
Technavio’s market research analysts predict the school assessment test market in APAC to grow at a CAGR of over 17% between 2016 and 2020. The market’s growth is driven by the extended emphasis on science, technology, engineering, and mathematics (STEM) education. Various countries in APAC such as Malaysia and Japan are encouraging students to take up careers, degree programs, and apprenticeships in STEM owing to the high employment prospects in this field. Furthermore, governments, through their agencies, are directing schools to emphasize on the STEM education. During 2015, China was one of key leading countries in the school assessment tools market in APAC. Initiatives taken by the government, such as education reform strategy, is expected to boost growth in the market in China during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the school assessment tools segments based on the end-user.
“Recently, there has been an increase in the emphasis on cognitive assessment. Extensive amounts of government initiatives are being taken across APAC countries to improve the standard of education and to be at par with the international education system. Many schools in the APAC are engaging in the holistic development of students that includes elements of social, physical, emotional, and cognitive assessments,” says Jhansi Mary, Lead Analyst, Education, Technavio Research.
By 2020, the secondary education segment is expected to account for more than 88% of the total market. The mass digitization of education in countries such as China and South Korea is expected to fuel growth in this segment during the forecast period. Vendors in the market are collaborating with institutions to train faculties on the use of these tools to increase the familiarity of the software, apart from selling their products.
Educomp Solutions, LITERATU, Next Education, and UMeWorld are the prominent vendors in the school assessment tools market in APAC. The digitization of education in APAC at a rapid pace has led to the sustainable growth of the school assessment tools market in the region. Most educational institutions are automating their processes to simplify their digital learning environment. They are also developing an economical cost structure to create a conducive environment for the deployment of assessment tools. The increasing preference for digital learning has encouraged these vendors to develop advanced assessment tools, especially for the education market, which they can promote within their existing large customer base. Given the untapped revenue potential schools represent, traditional vendors are investing in R&D to introduce industry-specific software during the predicted period.
A more detailed analysis is available in the Technavio report, School Assessment Tools Market in APAC 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
