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US TEST
PREPARATION
MARKET TO 2021
US TEST PREPARATION MARKET TO
2021
Indalytics Advisors business@indalytics.com Indalytics.com
April 2017
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 1
TABLE OF CONTENT
• Market size of US test preparation sector
o Test Preparation for Standardized Tests at School Level
o Test Preparation for Standardized Tests at Undergraduate Level
o Test Preparation for Standardized Tests at Postgraduate and Professional Level
• Types of Test Preparation for Standardized Tests
o Type of Test Preparation — By Segment Growth
• Forecasted Market Size of US Test Preparation Sector
• Drivers Impacting growth of US Test Preparation
o Growth in Population
o Financial Stability Linked to Education
o Increasing Internet Penetration
o Demand from Other Countries
• Trends in the US Test Preparation Space
o Colleges and Universities dropping Standardized Tests
o Increasing Competition from Free Substitutes
o Focus on Online Test Preparation
o Test Preparation Companies going for Expansion
o Investments in the US Test Preparation Space
• Five Forces Analysis of the US Test Preparation Sector
o Threat of New Entrants
o Threats of Substitutes
o Bargaining Power of Buyers
o Bargaining Power of Suppliers
o Intensity of Competitive Rivalry
• Pest Analysis of US Test Preparation Sector
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 2
o Political
o Economic
o Social
o Technological
• List of Players
o Test Makers
▪ ACT, Inc.
▪ American Council on Education
▪ Association of American Medical Colleges
▪ College Board
▪ Educational Testing Service
▪ Graduate Management Admission Council
▪ Law School Admission Council
o Third–party test providers
▪ Barron’s Educational Series
▪ Houghton Mifflin Harcourt
▪ Huntington Learning Centers
▪ Kaplan, Inc.
▪ Knewton, Inc.
▪ McGraw–Hill Education
▪ Manhattan Review
▪ PowerScore, Inc.
▪ The Princeton Review
▪ Veritas Prep
• Annexure
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 3
LIST OF FIGURES
• Figure 1: US test preparation market size — 2016 (E)
• Figure 2: US test preparation market size — School Level Tests — 2016 (E)
• Figure 3: US test preparation market size — Undergraduate Level Tests — 2016 (E)
• Figure 4: US test preparation market size — Postgraduate and Professional Level Tests — 2016 (E)
• Figure 5: US test preparation market size — By types of test preparation — 2016 (E)
• Figure 6: Market size of test preparation in the US — Books, Practice Tests and Study Material —
2013–2016 (E)
• Figure 7: Market size of test preparation in the US — Full–time coaching and private tutoring —
2013–2016 (E)
• Figure 8: Market size of test preparation in the US — Online tutoring — 2013–2016 (E)
• Figure 9: Market size of test preparation in the US — Mobile Applications — 2013–2016 (E)
• Figure 10: Growth rate of market size of test preparation in the US — By types of test preparation
— 2013–2016 (E)
• Figure 11: Market size of test preparation in the US — By Types and Levels of Preparation — 2013–
2016 (E)
• Figure 12: Forecasted Market Size of US Test Preparation — 2016 (E)–2021 (F)
• Figure 13: Population of US — 2016 (E)–2021 (F)
• Figure 14: Population of US — By Test Preparation Age Group — 2016 (E)
• Figure 15: Median earnings in the US — By educational attainment
• Figure 16: Unemployment rate in the US — By educational attainment
• Figure 17: US Internet penetration
• Figure 18: US fixed broadband subscribers
• Figure 19: US Internet usage – By age-group
• Figure 20: US Internet usage – By educational attainment
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 4
• Figure 21: US Internet usage – places of accessing internet — By age-group
• Figure 22: Student Visa (F1) Issued by the US — 2010–2016
• Figure 23: % of student visa (F1) issued by the US — by countries — 2016
• Figure 24: % of US to non–US test–takers in standardized tests — 2016
• Figure 25: Five forces analysis of the US test preparation space
• Figure 26: US government funding in education — 2015–2021(F)
• Figure 27: US education budget — % of total budget — 2015–2021 (F)
• Figure 28: US higher education budget — % of total education budget — 2017(F)
• Figure 29: US gross domestic product, constant prices — 2015–2021(F)
• Figure 30: US gross national savings — 2015–2021(F)
• Figure 31: US Inflation — average consumer prices — 2015–2021(F)
• Figure 32: % Enrollment in the US — By age groups — 2016
• Figure 33: % Enrollment in the US — By gender
• Figure 34: % Enrollment in the US — By nativity
• Figure 35: % of Employed undergraduate students in the US
• Figure 36: US Gross enrollment ratio — Primary, Secondary, Tertiary
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 5
PUBLICATION DATE
April 2017
NUMBER OF PAGES
82
PRICE OF THE REPORT
Single User: US$1,500
Multi User/ Enterprise: US$3,750
Visit www.indalytics.com or write to us at info@indalytics.com to know more
about the report.
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 6
ABOUT THE REPORT
The report ‘US Test Preparation Market to 2021’ is a comprehensive study on test
preparation for various standardized tests in the US. The report discusses the
current and forecasted market size of test preparation space, followed by the key
trends, as well as drivers that will impact growth of the sector.
It discusses the five forces analysis of test preparation, as well as the PEST analysis
of the US, with respect to the test preparation market. The report follows the
NAICS code 611691 (Exam Preparation & Tutoring Industry), and also mentions the
key test preparation players in the US.
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 7
EXECUTIVE SUMMARY
The test preparation sector for standardized tests in the US is estimated to be
US$XX.XX billion by the end of 2016. Test preparation done at school level
constitutes XX.XX% of the market, while preparation at undergraduate, and
postgraduate and professional level constitute XX.XX% and XX.XX% respectively.
At the school level, the major tests that constitute approximately three–fourth of
the test preparation revenue are the AP Tests, PSAT/NMSQT, and GED. At the
undergraduate level, ACT constitutes almost half of the market, followed by an
approximately XX.XX% share by SAT. At postgraduate and professional level, the
major tests are GRE, GMAT and LSAT.
Full–time coaching and private tutoring, because of its high-ticket size, constitute
approximately XX.XX% of the test preparation market. It is followed by online
tutoring at approximately XX.XX% of the market.
There is a major difference between the dynamics of test preparation space for
school and undergraduate education — and postgraduate and higher education.
Since more students, in case of school and undergraduate education, take full–
time coaching and private tutoring, the average fee for the same is high, and the
average price of books and online study material is low. While, in case of
postgraduate and professional education, the average price of books and online
study material is high, as more test takers prefer them over full–time coaching and
private tutoring.
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 8
The sector is witnessing several trends, such as colleges and universities dropping
standardized tests, increasing competition from free substitutes, and online test
preparation providers from across the globe.
The test preparation sector for standardized tests in the US is forecasted to reach
US$XX.XX billion by 2021, growing at a compound annual growth rate (CAGR) of
XX.XX%. The growth will be driven by several factors such as growth in population
and more financial stability in the US, increase in employment, more use of
technology, and increased demand from students from other countries.
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 9
RESEARCH METHODOLOGY
Market size of test preparation sector is defined as the total revenue generated by
the sector. It is a product of the total number of test takers who took test
preparation, and the ticket size of various test preparation resources.
All the data present in this report is sourced through legal and ethical competitive
intelligence. The research includes both secondary research, as well as primary
research including interviews and surveys.
SECONDARY RESEARCH
Secondary research was conducted to gather relevant, latest and authentic data
from various sources. This data is used to understand the sector, identify various
trends and players, and calculate the number of students taking various tests. The
sources used for secondary data include:
• White Papers, Reports, and Research Material from Test Makers
• White Papers, Reports, and Research Material from various government
organizations
• Analyst Reports
• Annual Reports and Filings
• Companies’ Social Media Activities
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 10
• Company Websites
• Events and Conferences
• Industry Organizations
• Webinars and News Releases
PRIMARY RESEARCH
More than 1,000 students were surveyed and more than 30 test preparation
providers were interviewed for this report. Data and insights from them were used
to determine various factors, such as:
• % of students taking full–time tuitions, online tuitions, study material etc.
• Psyche of students, while spending on test preparation.
• Average fee for various types of tuitions, study material and books.
The sample size was kept a minimum 1,000 students and 30 test preparation
providers, so as to get a normal distribution bell curve, without any exceptions and
variances.
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 11
DISCLAIMER
• Market size of standardized tests does not include the official testing fee
for the tests — that is taken by test takers.
• This report only covers the standardized tests, which are conducted at
national level, and are not confined to specific states. Therefore, tests such
as California Basic Educational Skills Test (CBEST); Cooperative Admissions
Examination Program (COOP); California State University Entry-Level
Mathematics (CSU ELM); California State University English Placement Test
(CSU EPT); and NYS Regents Exam are not included in the research and
report.
• In order to derive the averages, the exceptional cases have not been
considered. E.g. Veritas Prep’s number of tutoring hours is more than the
average, and hence was not considered to get the average number of
tutoring hours.
• The report is focused on the US. Therefore, the number of students —
taking US–based tests — from across the globe were considered.
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 12
LIST OF TESTS MENTIONED IN THE REPORT
ACT American College Testing
AP Tests Advanced Placement tests
ASVAB Armed Services Vocational Aptitude Battery
CAIA Chartered Alternative Investment Analyst
CFA Chartered Financial Analyst
CFP Certified Financial Planner
CPA Certified Public Accountant
DAT Dental Admission Test
FRM Financial Risk Manager
GED General Educational Development
GMAT Graduate Management Admission Test
GRE Graduate Record Examinations
HiSET High School Equivalency Test
HSPT High School Proficiency Assessment
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 13
ISEE Independent School Entrance Examination
LSAT Law School Admission Test
MAT Miller Analogies Test
MCAT Medical College Admission Test
OAT Optometry Admission Test
PCAT Pharmacy College Admission Test
PSAT/NMSQT Preliminary SAT/National Merit Scholarship Qualifying Test
SAT Scholastic Assessment Test
SSAT Secondary School Admission Test
TASC Test Assessing Secondary Completion
TOEFL Test of English as a Foreign Language
TOEIC Test of English for International Communication
USMLE United States Medical Licensing Examination
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 14
REPORT SAMPLE
MARKET SIZE OF US TEST PREPARATION SECTOR
Test preparation market for standardized tests in the US is estimated to be
US$XX.XX billion at the end of 2016. While XX.XX% (US$XX.XX billion) of the market
is estimated to be comprising of standardized tests at the school level, XX.XX%
(US$XX.XX billion) of the total market comprises of tests — which are taken for
undergraduate courses. Further, XX.XX% (US$XX.XX billion) of the market is for test
preparation for postgraduate and professional courses.
FIGURE 1: US TEST PREPARATION MARKET SIZE — 2016 (E)
Source: Indalytics Advisors
School Level
XX.XX%Undergraduate Level
XX.XX%
Graduate /
Professional Level
XX.XX%
Year = 2016 (E)
Total Market Size:
US$XX.XX billion
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 15
FIGURE 2: MARKET SIZE OF TEST PREPARATION IN THE US — BY TYPES AND LEVELS OF PREPARATION — 2013–2016 (E)
Source: Indalytics Advisors
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
XX.XX%
School Level
Undergraduate Level
Graduate / Professional Level
US Test Prepration
Full-time Coaching and Private Tutoring Online Tutoring Books, Practice Tests, and Study Material Mobile Apps
Year = 2016 (E)
Total Market Size:
US$XX.XX billion
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 16
ORGANIZATIONS MENTIONED IN THE REPORT
ACT
Admissions Hero
American Council on Education
Anna Maria College
Apollo Global Management
Association of American Medical Colleges
Atlas Venture
Barron’s Educational Series
Boston Latin School
College Board
CollegeVine
Columbia University
Educational Testing Service
EMPOWERgre
FairTest
Graduate Management Admission Council
gWhiz
Hampshire College
Higher Learning Technologies
Houghton Mifflin Harcourt
Huntington Learning Center
Kaplan Test Prep
Khan Academy
Knewton
Law School Admission Council
LTG Exam Platform
Macmillan Education
Magoosh
Manhattan Review
Match Group
McGraw–Hill Education
National Center for Fair & Open Testing
OpenEd
Pacific Metrics
Pearson Education
Penguin Random House
Powerscore
PrepFactory
Princeton University
Shmoop
Square Peg Capital
ST Unitas
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 17
TestMax
The Princeton Review
TPR Education
Triumph Learning
Tutor.com
University of Delaware
Varsity Tutors
Veritas Prep
WeSpeke
Worcester State University
Yale University
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 18
DISCLAIMER
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any
form by any means, electronic, mechanical, photocopying, recording or otherwise, without the
prior permission of the publisher, Indalytics Advisors Private Limited.
The information contained in this report is of a general nature and is not intended to address any
particular individual or entity’s circumstances. Although proper care has been taken to provide
accurate and timely information, there can be no guarantee that such information is accurate as
of the date it is received or that it will continue to be accurate in the future. The publisher should
not be held liable for any discrepancy in the information. No one should act upon such information
without appropriate professional advice after a thorough examination of the particular situation.
Publication Volume: MSR-17-IN-01
Publication Date – April 2017
© 2017 Indalytics Advisors Private Limited
For further information, please contact info@indalytics.com
US TEST PREPARATION MARKET TO 2021
©Indalytics Advisors Indalytics.com Page 19
NOTES

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US Test Preparation Market to 2021 - Report Brief - Indalytics Advisors

  • 1. US TEST PREPARATION MARKET TO 2021 US TEST PREPARATION MARKET TO 2021 Indalytics Advisors business@indalytics.com Indalytics.com April 2017
  • 2. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 1 TABLE OF CONTENT • Market size of US test preparation sector o Test Preparation for Standardized Tests at School Level o Test Preparation for Standardized Tests at Undergraduate Level o Test Preparation for Standardized Tests at Postgraduate and Professional Level • Types of Test Preparation for Standardized Tests o Type of Test Preparation — By Segment Growth • Forecasted Market Size of US Test Preparation Sector • Drivers Impacting growth of US Test Preparation o Growth in Population o Financial Stability Linked to Education o Increasing Internet Penetration o Demand from Other Countries • Trends in the US Test Preparation Space o Colleges and Universities dropping Standardized Tests o Increasing Competition from Free Substitutes o Focus on Online Test Preparation o Test Preparation Companies going for Expansion o Investments in the US Test Preparation Space • Five Forces Analysis of the US Test Preparation Sector o Threat of New Entrants o Threats of Substitutes o Bargaining Power of Buyers o Bargaining Power of Suppliers o Intensity of Competitive Rivalry • Pest Analysis of US Test Preparation Sector
  • 3. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 2 o Political o Economic o Social o Technological • List of Players o Test Makers ▪ ACT, Inc. ▪ American Council on Education ▪ Association of American Medical Colleges ▪ College Board ▪ Educational Testing Service ▪ Graduate Management Admission Council ▪ Law School Admission Council o Third–party test providers ▪ Barron’s Educational Series ▪ Houghton Mifflin Harcourt ▪ Huntington Learning Centers ▪ Kaplan, Inc. ▪ Knewton, Inc. ▪ McGraw–Hill Education ▪ Manhattan Review ▪ PowerScore, Inc. ▪ The Princeton Review ▪ Veritas Prep • Annexure
  • 4. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 3 LIST OF FIGURES • Figure 1: US test preparation market size — 2016 (E) • Figure 2: US test preparation market size — School Level Tests — 2016 (E) • Figure 3: US test preparation market size — Undergraduate Level Tests — 2016 (E) • Figure 4: US test preparation market size — Postgraduate and Professional Level Tests — 2016 (E) • Figure 5: US test preparation market size — By types of test preparation — 2016 (E) • Figure 6: Market size of test preparation in the US — Books, Practice Tests and Study Material — 2013–2016 (E) • Figure 7: Market size of test preparation in the US — Full–time coaching and private tutoring — 2013–2016 (E) • Figure 8: Market size of test preparation in the US — Online tutoring — 2013–2016 (E) • Figure 9: Market size of test preparation in the US — Mobile Applications — 2013–2016 (E) • Figure 10: Growth rate of market size of test preparation in the US — By types of test preparation — 2013–2016 (E) • Figure 11: Market size of test preparation in the US — By Types and Levels of Preparation — 2013– 2016 (E) • Figure 12: Forecasted Market Size of US Test Preparation — 2016 (E)–2021 (F) • Figure 13: Population of US — 2016 (E)–2021 (F) • Figure 14: Population of US — By Test Preparation Age Group — 2016 (E) • Figure 15: Median earnings in the US — By educational attainment • Figure 16: Unemployment rate in the US — By educational attainment • Figure 17: US Internet penetration • Figure 18: US fixed broadband subscribers • Figure 19: US Internet usage – By age-group • Figure 20: US Internet usage – By educational attainment
  • 5. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 4 • Figure 21: US Internet usage – places of accessing internet — By age-group • Figure 22: Student Visa (F1) Issued by the US — 2010–2016 • Figure 23: % of student visa (F1) issued by the US — by countries — 2016 • Figure 24: % of US to non–US test–takers in standardized tests — 2016 • Figure 25: Five forces analysis of the US test preparation space • Figure 26: US government funding in education — 2015–2021(F) • Figure 27: US education budget — % of total budget — 2015–2021 (F) • Figure 28: US higher education budget — % of total education budget — 2017(F) • Figure 29: US gross domestic product, constant prices — 2015–2021(F) • Figure 30: US gross national savings — 2015–2021(F) • Figure 31: US Inflation — average consumer prices — 2015–2021(F) • Figure 32: % Enrollment in the US — By age groups — 2016 • Figure 33: % Enrollment in the US — By gender • Figure 34: % Enrollment in the US — By nativity • Figure 35: % of Employed undergraduate students in the US • Figure 36: US Gross enrollment ratio — Primary, Secondary, Tertiary
  • 6. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 5 PUBLICATION DATE April 2017 NUMBER OF PAGES 82 PRICE OF THE REPORT Single User: US$1,500 Multi User/ Enterprise: US$3,750 Visit www.indalytics.com or write to us at info@indalytics.com to know more about the report.
  • 7. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 6 ABOUT THE REPORT The report ‘US Test Preparation Market to 2021’ is a comprehensive study on test preparation for various standardized tests in the US. The report discusses the current and forecasted market size of test preparation space, followed by the key trends, as well as drivers that will impact growth of the sector. It discusses the five forces analysis of test preparation, as well as the PEST analysis of the US, with respect to the test preparation market. The report follows the NAICS code 611691 (Exam Preparation & Tutoring Industry), and also mentions the key test preparation players in the US.
  • 8. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 7 EXECUTIVE SUMMARY The test preparation sector for standardized tests in the US is estimated to be US$XX.XX billion by the end of 2016. Test preparation done at school level constitutes XX.XX% of the market, while preparation at undergraduate, and postgraduate and professional level constitute XX.XX% and XX.XX% respectively. At the school level, the major tests that constitute approximately three–fourth of the test preparation revenue are the AP Tests, PSAT/NMSQT, and GED. At the undergraduate level, ACT constitutes almost half of the market, followed by an approximately XX.XX% share by SAT. At postgraduate and professional level, the major tests are GRE, GMAT and LSAT. Full–time coaching and private tutoring, because of its high-ticket size, constitute approximately XX.XX% of the test preparation market. It is followed by online tutoring at approximately XX.XX% of the market. There is a major difference between the dynamics of test preparation space for school and undergraduate education — and postgraduate and higher education. Since more students, in case of school and undergraduate education, take full– time coaching and private tutoring, the average fee for the same is high, and the average price of books and online study material is low. While, in case of postgraduate and professional education, the average price of books and online study material is high, as more test takers prefer them over full–time coaching and private tutoring.
  • 9. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 8 The sector is witnessing several trends, such as colleges and universities dropping standardized tests, increasing competition from free substitutes, and online test preparation providers from across the globe. The test preparation sector for standardized tests in the US is forecasted to reach US$XX.XX billion by 2021, growing at a compound annual growth rate (CAGR) of XX.XX%. The growth will be driven by several factors such as growth in population and more financial stability in the US, increase in employment, more use of technology, and increased demand from students from other countries.
  • 10. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 9 RESEARCH METHODOLOGY Market size of test preparation sector is defined as the total revenue generated by the sector. It is a product of the total number of test takers who took test preparation, and the ticket size of various test preparation resources. All the data present in this report is sourced through legal and ethical competitive intelligence. The research includes both secondary research, as well as primary research including interviews and surveys. SECONDARY RESEARCH Secondary research was conducted to gather relevant, latest and authentic data from various sources. This data is used to understand the sector, identify various trends and players, and calculate the number of students taking various tests. The sources used for secondary data include: • White Papers, Reports, and Research Material from Test Makers • White Papers, Reports, and Research Material from various government organizations • Analyst Reports • Annual Reports and Filings • Companies’ Social Media Activities
  • 11. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 10 • Company Websites • Events and Conferences • Industry Organizations • Webinars and News Releases PRIMARY RESEARCH More than 1,000 students were surveyed and more than 30 test preparation providers were interviewed for this report. Data and insights from them were used to determine various factors, such as: • % of students taking full–time tuitions, online tuitions, study material etc. • Psyche of students, while spending on test preparation. • Average fee for various types of tuitions, study material and books. The sample size was kept a minimum 1,000 students and 30 test preparation providers, so as to get a normal distribution bell curve, without any exceptions and variances.
  • 12. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 11 DISCLAIMER • Market size of standardized tests does not include the official testing fee for the tests — that is taken by test takers. • This report only covers the standardized tests, which are conducted at national level, and are not confined to specific states. Therefore, tests such as California Basic Educational Skills Test (CBEST); Cooperative Admissions Examination Program (COOP); California State University Entry-Level Mathematics (CSU ELM); California State University English Placement Test (CSU EPT); and NYS Regents Exam are not included in the research and report. • In order to derive the averages, the exceptional cases have not been considered. E.g. Veritas Prep’s number of tutoring hours is more than the average, and hence was not considered to get the average number of tutoring hours. • The report is focused on the US. Therefore, the number of students — taking US–based tests — from across the globe were considered.
  • 13. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 12 LIST OF TESTS MENTIONED IN THE REPORT ACT American College Testing AP Tests Advanced Placement tests ASVAB Armed Services Vocational Aptitude Battery CAIA Chartered Alternative Investment Analyst CFA Chartered Financial Analyst CFP Certified Financial Planner CPA Certified Public Accountant DAT Dental Admission Test FRM Financial Risk Manager GED General Educational Development GMAT Graduate Management Admission Test GRE Graduate Record Examinations HiSET High School Equivalency Test HSPT High School Proficiency Assessment
  • 14. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 13 ISEE Independent School Entrance Examination LSAT Law School Admission Test MAT Miller Analogies Test MCAT Medical College Admission Test OAT Optometry Admission Test PCAT Pharmacy College Admission Test PSAT/NMSQT Preliminary SAT/National Merit Scholarship Qualifying Test SAT Scholastic Assessment Test SSAT Secondary School Admission Test TASC Test Assessing Secondary Completion TOEFL Test of English as a Foreign Language TOEIC Test of English for International Communication USMLE United States Medical Licensing Examination
  • 15. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 14 REPORT SAMPLE MARKET SIZE OF US TEST PREPARATION SECTOR Test preparation market for standardized tests in the US is estimated to be US$XX.XX billion at the end of 2016. While XX.XX% (US$XX.XX billion) of the market is estimated to be comprising of standardized tests at the school level, XX.XX% (US$XX.XX billion) of the total market comprises of tests — which are taken for undergraduate courses. Further, XX.XX% (US$XX.XX billion) of the market is for test preparation for postgraduate and professional courses. FIGURE 1: US TEST PREPARATION MARKET SIZE — 2016 (E) Source: Indalytics Advisors School Level XX.XX%Undergraduate Level XX.XX% Graduate / Professional Level XX.XX% Year = 2016 (E) Total Market Size: US$XX.XX billion
  • 16. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 15 FIGURE 2: MARKET SIZE OF TEST PREPARATION IN THE US — BY TYPES AND LEVELS OF PREPARATION — 2013–2016 (E) Source: Indalytics Advisors XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% XX.XX% School Level Undergraduate Level Graduate / Professional Level US Test Prepration Full-time Coaching and Private Tutoring Online Tutoring Books, Practice Tests, and Study Material Mobile Apps Year = 2016 (E) Total Market Size: US$XX.XX billion
  • 17. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 16 ORGANIZATIONS MENTIONED IN THE REPORT ACT Admissions Hero American Council on Education Anna Maria College Apollo Global Management Association of American Medical Colleges Atlas Venture Barron’s Educational Series Boston Latin School College Board CollegeVine Columbia University Educational Testing Service EMPOWERgre FairTest Graduate Management Admission Council gWhiz Hampshire College Higher Learning Technologies Houghton Mifflin Harcourt Huntington Learning Center Kaplan Test Prep Khan Academy Knewton Law School Admission Council LTG Exam Platform Macmillan Education Magoosh Manhattan Review Match Group McGraw–Hill Education National Center for Fair & Open Testing OpenEd Pacific Metrics Pearson Education Penguin Random House Powerscore PrepFactory Princeton University Shmoop Square Peg Capital ST Unitas
  • 18. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 17 TestMax The Princeton Review TPR Education Triumph Learning Tutor.com University of Delaware Varsity Tutors Veritas Prep WeSpeke Worcester State University Yale University
  • 19. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 18 DISCLAIMER No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, Indalytics Advisors Private Limited. The information contained in this report is of a general nature and is not intended to address any particular individual or entity’s circumstances. Although proper care has been taken to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. The publisher should not be held liable for any discrepancy in the information. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. Publication Volume: MSR-17-IN-01 Publication Date – April 2017 © 2017 Indalytics Advisors Private Limited For further information, please contact info@indalytics.com
  • 20. US TEST PREPARATION MARKET TO 2021 ©Indalytics Advisors Indalytics.com Page 19 NOTES