Making the Grade: Expanding Enrollment and Improving Disposable Incomes Will Likely Drive Industry Growth
Growth in education funding and income levels have bolstered demand for testing and educational support services. However, this growth is offset by a stagnating number of high school graduates who potentially require test preparation materials before taking the SAT and ACT exams. In 2020, the COVID-19 outbreak led to the cancellations of multiple test exams and school closures throughout the country. Fortunately, demand for these services has resumed thanks to the rollout of vaccines. Ultimately, industry revenue expanded at a CAGR of 3.6% to $26.1 billion over the past five years, including a decline of 1.3% in 2023 alone.
Operators in this industry provide noninstructional support services for education industries. The major segments of this industry are educational testing services and educational consultants. This industry does not include computer software designers that develop education support software; those operations are included in the IT Consulting industry (report 54151).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Pearson Plc
- Educational Testing Service
Methodology
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