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Research Outline

Prepared for David R. | Delivered December 8, 2020

Market Value and Market Size

Goals

To provide the US data and global data for the market value or market size, including the number of students who take university admissions tests (ACT, SAT, GMAT, GRE, LSAT, MCAT, DAT, PSAT), job placement psychometrics, vocational training, national government education programs (K-12) in developed and developing countries, corporate training, certification training, and social programs.

Early Findings

University Admission Tests

  • In 2019, the SAT Reasoning Test including the essay "costs $64.50 ($93.50 if registering late) and the AP exams cost $94 each" while "the SAT Subject Tests cost a baseline of $26 with a $22 fee for each test. " Also, "SAT score reports cost $12 per college for 1–2-week electronic delivery, or 2–4-week paper or disk delivery, depending on what method the school requires ($31 extra for two-day processing)."
  • Because of the "College Board’s monopoly in administering exams, they generated $1.1 billion of revenue in 2017 and likely generated over $1 billion in revenue in 2019."
  • According to the 2019 SAT Suite of Assessments Program Results, "over 2.2 million students in the class of 2019 took the SAT, an increase of 4% over the class of 2018."
  • The number of students who take the GRE General Test each year is more than "half-a-million individuals from over 160 countries." In October 2020, "ETS has raised the GRE General Test fee from US $205 to US $213."
  • There is a "total of 250,884 GMAT exams were taken by prospective business school students around the world in testing year 2017 (TY2017), which ran from July 1, 2016 through June 30, 2017."

Vocational Training

  • According to a market report, "the Global Vocational Training Market value was USD 23,714.7 million" in 2018 and "experts have anticipated that by the end of the year 2025, the value will reach $58,885.2 million."

Corporate Training

  • According to the Research and Markets report, "the global corporate training market and it is poised to grow by USD 52.7 bn during 2020-2024, progressing at a CAGR of 10% during the forecast period."
  • According to Forbes, "over $87.6 billion was spent on corporate training and development across the United States" in 2018.

Summary of Findings

  • We have provided the number of students and the market value for some university tests as well as for the vocational and corporate training. The values are also placed in this attached spreadsheet.
  • The number of students or market value for both US and global data is not available for some tests and training. For some, we can only provide US data or global data but not both.