The K-12 testing and assessment market size has grown strongly in recent years. It will grow from $11.50 billion in 2023 to $12.53 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to rising awareness of learning, growing use of games for assessment, and growing awareness of personalized learning.
The K-12 testing and assessment market size is expected to see strong growth in the next few years. It will grow to $17.74 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to the increasing number of private tutors, increasing demand for online education, and increasing demand for standard assessments. Major trends in the forecast period include product innovations, partnerships, and technological advancements.
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Scope Of K-12 Testing And Assessment Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
K-12 Testing And Assessment Market Overview
Market Drivers –
The rising demand for online education is expected to propel the growth of the K-12 testing and assessment market going forward. Online education refers to delivering educational content and instruction via the Internet. The demand for online education is rising because of its flexibility, accessibility, and quality of remote learning options, driven by technological advancements and evolving learning needs. K-12 testing and assessment in online education offer numerous advantages by providing personalized, data-driven, and engaging ways to measure and support student learning, ensuring that students receive a high-quality education regardless of the learning environment. For instance, in January 2022, according to the World Economic Forum, a Switzerland-based non-governmental organization, online education enrollment figures surged in 2020, more than doubling, and then experienced another substantial increase of 32% the subsequent year, reaching a peak of 189 million in 2021. Therefore, the rising demand for online education is driving the growth of the K-12 testing and assessment market.
Market Trends –
Major companies operating in the K–12 testing and assessment market are developing next-generation assessment solutions to evaluate student performance and outcomes better. Next-generation assessment solutions represent a significant advancement in educational evaluation, offering more personalized, data-driven, and engaging ways to measure and support student learning. For instance, in December 2023, New Meridian, an Austria-based non-profit organization, launched ProgressGuide, a new through-year assessment system. This was designed to help school districts target instruction and monitor student growth throughout the year. This innovative approach to assessment is part of New Meridian’s mission to support quality education for all students by fostering deeper learning and advancing equity in education.
The k-12 testing and assessment market covered in this report is segmented –
1) By Component: Software, Content, Services
2) By Product: Curriculum-Based Testing, Non-Curriculum-Based Testing
3) By Method: Blended Method, Online Method, Traditional Method
4) By End-User: Schools, Education Institutions, Government Agencies, Private Organizations
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Regional Insights –
North America was the largest region in the K-12 testing and assessment market in 2023. The regions covered in the K-12 testing and assessment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the K-12 testing and assessment market are Pearson Plc, Sylvan Learning LLC, Educational Testing Service, Coursera Inc., Houghton Mifflin Harcourt, Instructure Inc., Renaissance Learning Inc., Scantron Corporation, ACT Inc., NWEA, Edgenuity, Excelsoft Technologies Pvt. Ltd., Questar Assessment Inc., Measured Progress, Cognia, Educational Initiatives Pvt. Ltd., Istation inc., Proprofs Inc., Lexia Learning Systems LLC, Edulastic Inc., Cambium Assessment Inc., CORE Education and Consulting Solutions, Illuminate Education Inc., Otus LLC, Classworks Inc.
Table of Contents
1. Executive Summary
2. K-12 Testing And Assessment Market Report Structure
3. K-12 Testing And Assessment Market Trends And Strategies
4. K-12 Testing And Assessment Market – Macro Economic Scenario
5. K-12 Testing And Assessment Market Size And Growth
…..
27. K-12 Testing And Assessment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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