English Proficiency Test Market was valued at USD 1703.40 Million in 2021, and is expected to reach USD 3235.55 Million by 2029, exhibiting a CAGR of 8.35% during the forecast period (2022-2029)
English Proficiency Test Market Overview:
The English Proficiency Test market study gives a complete view of the competition, including the market share and company profiles of the worldwide industry’s leading competitors. The scope of the research includes a full assessment of the English Proficiency Test r Market, as well as the reasons for variations in the industry’s growth across a number of sectors.
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research’s market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.
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Corporate communication is one of the most critical functions faced by various employees working in Asia Pacific organizations. Pertaining to this fact, several companies operating in different countries in Asia Pacific undertaking initiatives to enhance the proficiency of English language among the employees. This factor is boosting the demand for digital English language learning through corporate sectors in Asia Pacific region, further driving the English Proficiency Test Market during the forecast period. The corporate English language learning training is majorly focused towards the information technology enabled services (ITES) including business process outsourcing individuals and knowledge process outsourcing individuals and also towards the professionals engaged in interaction with English-speaking country clients.
An increasing trend among the Asian students to enrol themselves in universities located in the western countries for higher education including post-graduation is expected to drive the growth of the English Proficiency Test Market. Majority of the candidates from Asian countries especially India and China enroll themselves for Test of English as a Foreign Language (TOEFL), International English Language Testing System (IELTS), and Test of English for International Communication (TOEIC), among others. The Test of English as a Foreign Language (TOEFL), International English Language Testing System (IELTS) are the tests conducted to asses a non-native candidate’s English fluency level. Pertaining to the fact that, these examinations and the universities and schools which accept these examinations qualified students, require proper English speaking and writing skills. This factor is expected to increase the demand for English proficiency test among students, further driving the growth of the English Proficiency Test Market.
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Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary research included a review of the leading manufacturers’ annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are utilized to compute percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data.
The biggest players in the English Proficiency Test r market are as follows:
• New Oriental Education & Technology Group Inc.
• British Council
• McGraw Hill Education
• Transparent Language
• Wall Street English
• Cambridge Assessment English
• Global Education Group Inc.
• Houghton Mifflin Harcourt
• Sanako Corporation
• Inlingua International
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the English Proficiency Test r market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on English Proficiency Test Market:
End-user industries where English Proficiency Test r are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for English Proficiency Test r manufacturers, affecting the English Proficiency Test r market’s growth in 2020. End-user business demand for English Proficiency Test r has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
Key Questions Answered in the English Proficiency Test Market Report are:
- In 2021, which segment accounted for the most share of the English Proficiency Test r market?
- What is the competitive landscape of the English Proficiency Test r market?
- What are the key factors influencing English Proficiency Test r market growth?
- In the English Proficiency Test r market, which region has the most market share?
- What will be the CAGR of the English Proficiency Test r market during the forecast period (2022-2027)?