Increasing number of internet users and Career Advancement Preferences is increasing the demand for online as well as offline test preparation market in India.
The number of internet users in India has been increasing at a phenomenal pace. Major players in the test preparation market in India have made their presence felt online by introducing online modules. As the number of internet users would grow, it would lead to an increase in the number of e-enrollments.
The online test preparation companies would be able to serve a wider user base in the coming years. Owing to this the revenue of the test preparation companies would experience a surge in business. The number of internet users in India is expected to grow at a CAGR of 13.8%. The number of internet users is expected to enhance from 402 million in FY’2015 to 766 million by FY’2020.
The online test preparation market is majorly dominated by aspirants who are under the age group 19-25 and greater than 25. The online test preparation market has grown at an unprecedented CAGR of 17.8% during the period FY’2010-FY’2015. The rapid growth in this segment can be attributed to increased number of students appearing for the entrance exams enrolling themselves under e-learning courses. The online courses do not span over long durations and sessions can be availed as per the convenience of the user. It has been estimated that around 4 crore students took the competitive exams in FY’2015.
The market is anticipated to grow at a rapid pace with stringent competition in the industry. The market is highly competitive due to the increased growth opportunities and entry of several startups in the period 2010-2015. Toppr, Testbook, Handa ka Fanda and Mockbank were established in 2013. The year 2012 also witnessed the establishment of major startups like Embibe and Examify. The competition is expected to tighten and only a few players would be able to survive in the coming years. In addition the increasing focus of major test preparation centers such as TIME, Career Launcher, Aakash and others towards online content offering has also vibrated the market growth. In FY’2015, online test preparation market has contributed 15% share in terms of revenues while 20% enrollments are observed to be online.
The report titled “India Test Preparation Market Outlook to 2020 – Growing Target Base and Surge in Web Analytics to Drive Growth in Online Space” provides detailed overview on the test preparation coaching in India, with focus on the online test preparation market and its segments. This report helps reader to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for test preparation companies, companies dealing with delivery of content for competitive exams, new entrants planning to enter India test preparation market and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
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