NEW YORK, Aug. 18, 2021 /PRNewswire/ — The K-12 testing and assessment market is expected to grow by USD 7.76 billion during 2020-2024, progressing at a CAGR of about 10%. The report provides the market impact and new opportunities created due to the COVID-19 pandemic.
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K-12 Testing and Assessment Market: Increasing use of analytics to drive growth
Technological advances and the growing use of Bid Data in the educational industry have increased the scope for learning analytics. Many educational institutional institutions are including learning analytics and adaptive learning in their testing modules to provide a personalized form of learning to students. It also helps them capture useful information, predict progress, the outcome, and identify the needs of students. Many such benefits are increasing the demand for K-12 testing and assessment solutions, thereby driving the market growth.
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As per Technavio, the rising number of collaborations between schools and assessment companies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
K-12 Testing and Assessment Market: Rising number of collaborations between schools and assessment companies
Traditional assessment techniques require significant time, money, and effort. Also, they do not ensure quality and fair assessments. Hence, educational institutions are collaborating with assessment companies to provide proper means of assessment and reduce the pressure on teachers. For example, the Maryland State Department of Education has partnered with ETS (Education Technology Services) to deliver various assessment modules for schools in Maryland. The growing number of such collaborations between educational departments and vendors is expected to have a positive impact on the market during the forecast period.
«Growing government interventions on K-12 testing and assessment and technological advances will further boost market growth during the forecast period», says a senior analyst at Technavio.
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K-12 Testing and Assessment Market: Segmentation Analysis
This market research report segments the K-12 testing and assessment market by product (curriculum-based testing and non-curriculum-based testing), method (blended method, online method, and traditional method), and geography (North America, Europe, APAC, South America, and MEA).
North America led the K-12 testing and assessment market in 2020, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to the increasing number of students and teachers with a sound knowledge of advanced technology.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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