Test preparation, also known as exam preparation, is an educational training program designed to improve the test taker’s performance on standardized tests. Many test developers have introduced various solutions, such as practice papers, crash courses, class curricula, mock tests, in-person or online tutoring packages, etc. These solutions aim to improve the test-takers skills and capabilities through practice and exposure to problems like the actual test.
The test preparation market in India is expected to reach INR 1,032.79 Bn by 2027, expanding at a compound annual growth rate (CAGR) of ~23.24% during the 2023 – 2027 forecast period. The test preparation industry is divided into two segments: offline test preparation centers and online test preparation. The test preparation market has a moderately fragmented competitive structure because of players separating themselves into different test preparation segments and product offerings.
Impact of COVID-19:
The COVID-19 pandemic has had a mixed impact on the Indian test preparation market. Leading EdTech companies reacted immediately to the demand by providing a combination of free trial access, steep discounts, and a constantly evolving content and offering package. Some EdTech platforms such as BYJU’S and Unacademy have seen their user-base (paid and free) more than double, in both, the K12 and post-K12 segments.
Key growth drivers of the market:
The increasing number of students enrolling in test preparation courses is one of the main factors fueling growth in the test preparation market in India. There is an increase in the number of students participating in test preparation classes as a result of increased student competition and a sharp decline in the test pass rate for competitive tests.
Key deterrents to the growth of the market:
Due to inadequate teaching practices in schools and colleges and student demand to acquire the necessary knowledge to finish the curriculum, the market for private tutors has grown. Majority of the test preparation courses are very expensive. As a result, many students prefer to prepare for exams by solving test papers.