India Test Preparation Market Overview
The term “test preparation” describes educational instruction intended to improve test-takers performance on standardized tests. Numerous test creators have released a variety of solutions, such as practice papers, crash courses, lesson plans, mock exams, in-person or online tutoring programs, etc. Through practice and exposure to the issues that mimic the real test, these solutions seek to improve test-takers skills and abilities. The overall industry test preparation landscape is mature, however, the online test preparation section is in a growing stage. With a CAGR of 57.4% for the online sector and a CAGR of 9.1% for the total test prep segment between 2015 and 2020, the online segment is expanding significantly faster than the latter. Wider access to the internet and smartphones, the lack of high-quality coaching facilities in Tier-2 and Tier-3 regions of the nation, active investment in the education technology sector, and cutting-edge technologies that extend the reach of learning are key drivers of the growth of the online segment.
According to the research report, “India Test Preparation Outlook to 2025 By Type of Course (Under-Graduate, Post-Graduate, and Job-Based), By Type of Undergraduate Test Prep (Medical, Engineering, Architecture, Cost Accounting, and CA Foundation, SAT, Law and Other UG Entrances), By Type of Postgraduate Test Prep (Commerce, Engineering, Management, and Others) and By Job-Based Test Prep (Banking & Insurance, Civil Services, SSC, Railways, and Others)” states that the India Test Preparation Market growth is propelled by the increasing enrollments in test preparation courses over the anticipated period of 2025. As a result, students continue to choose test preparation courses to increase their chances of passing difficult exams. In the upcoming years, it is anticipated that the growing trend of using analytics in exam preparation in India will be beneficial.
Based on the Type of Course, the India Test Preparation market is segmented into Under-Graduate, Post-Graduate, and Job-Based. Among these, the Under-Graduate segment is leading the market.
In terms of the Type of Undergraduate Test Preparations, the market is categorized into Medical, Engineering, Architecture, Cost Accounting, CA Foundation, SAT, Law, and Other UG Entrances. Among these, the India Test Preparation Market is primarily dominated by Medical and Engineering entrance exams.
On the basis of the Type of Postgraduate Test Preparations, the market is segmented into Commerce, Finance, and Accountancy exams along with Engineering and Management Entrance exams. The India Test Preparation Market in terms of Job-based Test Preparation is primarily split into Banking & Insurance, Civil Services, SSC, Railways, and some others.
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The industry’s competition is split between offline center-based firms and online test preparation companies. Online test preparation alternatives have been rapidly developing into a workable solution, driven by rising acceptance from Tier-2, Tier-3, and Tier-4 towns, while offline test preparation organizations continue to dominate the market due to their extensive history and popularity among students. Currently accounting for 5% of the test preparation market, the online test preparation segment is predicted to expand quickly and reach national penetration in the years to come. The test preparation industry’s competitive structure is moderately fragmented due to player differentiation across test preparation categories and product offers.
The test preparation market in India is anticipated to expand over the ensuing years as a result of rising investor interest in online test preparation businesses, increasing internet penetration in Tier-2 and Tier-3 cities, and cutting-edge technologies that enable offline test preparation businesses to launch online platforms. Revenues from the test preparation market are anticipated to increase at a CAGR of 9.3% from 2020 to 2025, driven by the segment’s anticipated CAGR of 42.3% for online test preparation during that time.
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Ankur Gupta, Head Marketing & Communications