Technavio Announces the Publication of its Research Report Global K-12 Testing and Assessment Market 2016-2020
Technavio recognizes the following companies as the key players in the global K-12 testing and assessment market: Edutech, MeritTrac, Pearson Education, and Scantron.
Other Prominent Vendors in the market are: CogniFit, CORE Education and Consulting Solutions, GL Assessment, LITERATU, ProProfs Quiz Maker, and UMeWorld.
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Commenting on the report, an analyst from Technavios team said: Rising penetration of cloud computing will be a key trend for market growth. Educational institutions are opting for cloud-based software to deploy online assessment software. The cloud version of the software gives users multiple benefits in terms of accessibility as well as operational benefits. Schools have started using cloud services such as software as a service, storage, and computing providers for backup. With digitization, the faculty is pressurized to evaluate the students performances on various metrics.
According to the report, rise in number of international schools will be a key driver for market growth. The International School Assessment (ISA) assessment test is designed for K-12 students in all international schools across the world. The test is based on the internationally endorsed reading, mathematical literacy, and scientific literacy. During the academic year 2015-2016, over 76,000 students from 355 international schools across the world took the test. These tests were conducted by online service providers. Rise in the number of such tests and an increase in the number of students enrolling for these tests are helping testing and assessment vendors generate large amounts of revenues. This is eventually driving the growth of the market.
Further, the report states that one of the major challenges faced by testing and assessment tools vendors is the presence of a large number of open-source organizations that provide testing and assessment tools. Non-profit organizations such as Education Testing Service (ETS), ACT, and TCExam help educational institutions create tests to assess students. These vendors help users access benefits from advanced methods of assessment within constrained budget conditions. These companies have gained increasing popularity since their testing and assessment methods are available without any cost and can be used by any number of users.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Tests and Assessments
The incorporation of e-learning in schools and the culture of formative assessments are providing the required boost for the growth of the market. Tests and assessments form an essential part of educational institutions. These processes incorporate various metrics to help teachers quantify the performance of students.
Technavios analysts forecast the global K-12 testing and assessment market to grow at a CAGR of 5.51% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global K-12 testing and assessment market for 2016-2020. To calculate the market size, the report considers the revenue generated from third-party players who collaborate with educational institutions to conduct tests and assessments to evaluate students’ performance accordingly.
The market is divided into the following segments based on geography:
Technavio’s report, Global K-12 Testing and Assessment Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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