ENGLISH PROFICIENCY TEST MARKET: OVERVIEW
The Global English Proficiency Test Market was valued at USD 2.7 Billion in 2021 and is expected to reach USD 15.26 Billion by 2030, growing at a CAGR of 8.90 % during 2021-2030. The English language is the most widely learned language in the world. According to the British Council, an estimated 1.5 billion individuals worldwide are learning English at the moment. This can be linked to the English language's importance as a result of rising globalization. Higher education and dynamic international labor movement continue to drive global demand for English. The global English proficiency test market is growing at a double-digit rate year after year. Due to a surge in the number of students applying for study programs overseas, the volume of English proficiency tests has increased significantly. International students are nearly usually required by universities and colleges to demonstrate that they have a sufficient comprehension of the language required for their studies.
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The Covid-19 pandemic's forced lockdown and remote working were an unexpected reality check for businesses of all kinds. The pandemic's restrictions turned the world upside down, with industries like education and hospitality going bankrupt and countless businesses struggling to survive. In some ways, the global education crisis has acted as an unofficial catalyst. In the pandemic the education sector is fully disturbed. Since the COVID-19 epidemic, people's lives have been more centered on online learning. The pandemic has caused schools, universities, and businesses to operate remotely, which has increased the use of online learning. There is a plethora of online learning systems available. Different user verticals are also shaping the platforms. Top-tier colleges are also democratizing education by making courses available online.
ENGLISH PROFICIENCY TEST MARKET: TREND
Increasing Utilization of Online Platform for English Proficiency Test Propel Market Growth
Online platform aimed at boosting users' speaking, reading, listening, and writing abilities, as well as their English vocabulary and pronunciation. In addition to increasing job chances, knowing how to speak English allows to connect with people and learn about different cultures, regions, and lifestyles. The online program provides interactive live sessions from small to big groups that are led by qualified coaches and are based on a scientific learning technique to provide each child with an engaging peer learning experience. The curriculum combines a one-of-a-kind blend of research-based coursework, world-class teaching expertise, and modern technology.
ENGLISH PROFICIENCY TEST MARKET: DRIVERS
Growing Number of People who Wants to Study in Foreign Countries Drive Market Growth
The migration of qualified workers is a welcome development for a foreign country, but it can be beneficial or detrimental to their home country. Students with an overseas degree benefit from a high-quality education and high-paying jobs. Top-rated institutions in developed countries deliver world-class education to their pupils. Furthermore, studying abroad provides students with the opportunity to learn about different cultures and work ethics. This exposure will broaden their viewpoints and prepare them to work in a variety of settings. Another advantage of studying abroad is the opportunity to learn a second or third language. Over the last decade, the population of English learners has grown, thanks in part to national programs targeted at improving English proficiency. International students also represent a significant economic and international relations investment for American colleges due to their tuition and living expenses. As a result, from a financial aspect, international students contribute greatly to American colleges, and if their requirements are addressed, they can be the ideal bridge for future international students who will continue this contributing process. These are the major factor contributing the to drive the growth of the English Proficiency Test Market.
Global English Proficiency Test Market Report Coverage
|Market Size in 2021:||USD 2.7 Billion|
|Forecast Period 2021-2030 CAGR:||8.90 %|
|2030 Value Projection:||USD 15.26 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||225|
|Tables, Charts & Figures:||117|
|Segments covered:||COVID-19 Impact Analysis Report, By Application, By Test, By Region|
|Companies Covered:||Berlitz Languages, Pearson ELT, Sanako Corporation, Inlingua International, Houghton Mifflin Harcourt, McGraw-Hill Education, Rosetta Stone, Transparent Language, Voxy, and EF Education First.|
|Growth Drivers:||1)The Global English Proficiency Test Market is segmented by Application, Test, and Region. 2)The market for English Proficiency Test is very crowded with both small and big competitors.|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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ENGLISH PROFICIENCY TEST MARKET: RESTRAINT
High Cost of Investment in the Language Proficiency Institutes
Foreign language proficiency is also essential for America's national defense and diplomacy. Nonetheless, according to the US Government Accountability Office, roughly one-quarter of Foreign Service officers do not fulfil the language competence requirements that they should meet in order to perform their duties. People who speak English perform better on examinations, think more creatively, have access to a larger range of employment, and can fully enjoy and engage in other cultures or talk with people from various backgrounds.
Despite all of these compelling reasons to learn English, there has been a significant fall in foreign language training in American schools and institutions. Researchers at the Modern Language Association recently discovered that colleges have lost various English language programs due to their high cost, and that many institutes are not receiving student admissions due to their high fees, as people are more concerned about the high cost of investment in language proficiency institutes
ENGLISH PROFICIENCY TEST MARKET: SEGMENTATION
The Global English Proficiency Test Market is segmented by Application, Test, and Region. Based on the Application, the market is categorized into Graduates/ Undergraduates, Employers, and Others. Based on the Test market is segmented into the IELTS, TOEFL, CAE, CPE, and Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
ENGLISH PROFICIENCY TEST MARKET: BY REGION
Based on the Region, the English Proficiency Test Market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
The Asia Pacific market for English proficiency test is grow at fastest CAGR over the forecast period due to increasing awareness among candidates about the conduct of proficiency tests combined with employment opportunities in foreign countries. As the demand for English language education in Asia grows, so does the development and implementation of standardized tests at the local level. For example, nearly 6.9 million Chinese students studied abroad in 2017 for a better education and future career.
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ENGLISH PROFICIENCY TEST MARKET: COMPETITIVE LANDSCAPE
The market for English Proficiency Test is very crowded with both small and big competitors. The market seems to be moderately concentrated, and the big players mostly use product innovation and mergers & acquisitions to increase their market share and keep one step ahead of the competition. The companies featured in this study provide coaching and instruction to students and people for the preparation of English proficiency tests. These players have gotten the most out of the preparation for the examinations.
ENGLISH PROFICIENCY TEST MARKET: RECENT DEVELOPMENT
- May 2021 – ETS announced the launch of a brand-new English-language proficiency test, the TOEFL Essentials. The TOEFL Essentials exam replaces the TOEFL Family of Assessments' second high-stakes English-language proficiency test.
ENGLISH PROFICIENCY TEST MARKET: KEY PLAYERS
• British Council
• Educational Testing Service
• Cambridge Assessment English
• IDP Education
• Inlingua International Ltd.
• McGraw-Hill Education
• Pearson ELT
• Berlitz Corporation
SCOPE OF THE REPORT
The reports also assist in understanding the dynamic and structure of the English Proficiency Test market. The study serves as an investor's guide with its clear representation of competitive analysis of key competitors by product, price, financial condition, product portfolio, growth plans, and regional presence in the market for English Proficiency Test. The report covers the Global English Proficiency Test market segmented by application, test, and by region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables.
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