K-12 Testing and Assessment Market is expected to offer significant growth at a CAGR of 10.19% during the forecast period 2023-2030 | CogniFit, Edutech, ETS, MeritTrac, Pearson Education, Scantron, CORE Education and Consulting Solutions
The K-12 testing and assessment market share is expected to increase by USD 8.24 Billion from 2023 to 2030, and the market’s growth momentum will accelerate at a CAGR of 10.19
Market Overview
With AI and automation gaining ground in the educational environment, the size of the worldwide K–12 testing and assessment industry will grow. In order to quantify student understanding, represent real-world conditions, and reflect classroom learning, educators are likely to place a high priority on assessment.
K-12 evaluations can be delivered in countries thanks to technological advancements and strict accountability regulations. For instance, throughout the course of the school year, midterm exams triggered a change in curricular plan. In the meanwhile, formative assessment has given teachers and students useful feedback and a framework to direct their learning. Educational researchers will be compelled to give interpretative and analytical abilities the top priority in their study as a result of the demand for critical thinking. Some of these characteristics, such as foresight and curiosity, will entice students to spend money on critical thinking courses.
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Segment Analysis
The K–12 testing and assessment market is segmented based on the product into tests that are curriculum-related and tests that are not.
Due to a rise in partnerships between educational institutions and the major player to offer children technologically cutting-edge methods of instruction, testing, and assessment, curriculum-based testing now accounts for a sizeable portion of the K–12 testing and assessment industry.This is separated into three categories, depending on the method: mixed, online, and traditional.
Due to its accessibility from anywhere and during flexible hours, the online method currently commands the largest market share in the K–12 testing and assessment sector.Both students and teachers love it since it is an active and engaging teaching style. Due to the identical functionality and allotted time for learning, testing, and assessment, the blended method has a modest market share. A modest portion of the mark is also held by the conventional approach to education.
Based on types, the K-12 Testing and Assessment Market is segmented into:
- Curriculum-Based Testing
- Non-Curriculum-Based Testing
Based on application, the K-12 Testing and Assessment Market is segmented into:
- Pre-primary School
- Primary School
- Middle School
- High School
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Market Dynamics
The growing use of analytics in K-12 testing and assessment is one of the key drivers fueling the market’s expansion. The majority of schools all around the world are choosing assessment tools that incorporate key elements of learning analytics. Another reason driving the expansion of the K-12 testing and assessment market share is the growing emphasis on formative learning technologies. Formative evaluation entails evaluating the manner and timing of a student’s learning progress.The K-12 testing and assessment market will face significant reliability challenges during the forecast period. The existence of national, regional, and international manufacturers offering a range of K–12 testing and assessment solutions, such as gamification and online quizzes, helps to segment the global K–12 testing and assessment market.
Recent Development
On September 8, 2016, the philanthropic organization set up by the founder of Facebook, Mark Zuckerberg, and his partner, Priscilla Chan, made its first investment in an Indian start-up by leading a $50 million round of investing in the Think and Learn Pvt Ltd. educational technology business further aiding their global expansion.
The collaboration between Instructure and Unizin is extended till May 5, 2020. Canvas continues to serve as the main learning management platform for the latter organization. As a result, the former business will be better able to assist the latter business and continuously boost its earnings.
Regional Analysis
Due to its technologically sophisticated infrastructure and the biggest proportion of internet users in relation to its population, North America controls the majority of the K–12 testing and assessment business. According to “”The Mobile Economy 2020″” by GSMA, 91% of the region’s population is expected to have a smartphone by the year 2020. Additionally, by 2023, it is predicted that 92% of the region’s population will be online, according to the “”CISCO Annual Internet Report, 2018″”. According to the survey, 75% of the gadgets in the area will be wired or wirelessly connected to a network, with the remainder devices being mobile-connected. As a result, the region’s expansion has been supported by the great number of resources that are available there.
Regional K-12 Testing and Assessment Market coverage (Regional Status, Demand Forecast, Country Trends, etc.):
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- North America, Europe, China, Japan, Southeast Asia, India.
- North America (USA, Canada, and Mexico).
- Europe (Germany, France, UK, Russia and, Italy).
- Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).
Key segments covered in K-12 Testing and Assessment Market include:
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- K-12 Testing and Assessment Market Growth Drivers and Barriers.
- Market Trends, Market Opportunities, Porter’s Five Forces Analysis.
- Market Overview, Industry Development, Market Maturity, Value Chain Analysis.
- Regional and Country Level Analysis.
- Trends and Forecasts for Market Segments.
- Market Analysis and Various Recommendations.
- Key market forces.
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Key Market Participants in the K-12 Testing and Assessment Market :
CogniFit, Edutech, ETS, MeritTrac, Pearson Education, Scantron, CORE Education and Consulting Solutions
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