July 13, 2020
As per the report titled ‘Global English Proficiency Test Market: Insights, Trends and Forecast (2019-2024)’, available with Market Study Report LLC, global English proficiency test market is anticipated to record substantial gains through 2024.
Growing requirement for English proficiency among candidates to utilize maximum opportunities and overcome communication barriers in the growing economic diversification is driving the industry growth. Moreover, rapid globalization, rising demand for English language certificates by multinational organizations from employees, training initiatives by companies, spike in number of immigrants & international students in foreign universities, and growing awareness regarding English assessment tests & programs are the other rationales contributing to global English proficiency market growth.
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Moreover, advancements in English tests, along with increasing digitalization and implementation of computer-based tests across the globe is expected to enhance the market outlook in the coming years. However, rising costs of English proficiency tests and geopolitical issues may hinder the industry growth over the study period.
Based on the testing system, global English proficiency test market is categorized into IELTS, TOEFL, and others, wherein the foremost segment currently holds majority market share, owing to high acceptance rate of candidates with IELTS certification in several universities and institutions globally.
On the geographical front, Asia Pacific English proficiency test market will continue to register a strong CAGR through 2024, on account of rising per capita income, increasing number of candidates studying abroad, rising awareness about various proficiency tests, and lucrative employment opportunities in foreign countries.