Report : Latin America Online Exam Proctoring Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Advanced Automated Proctoring, Recorded Proctoring, and Live Online Proctoring) and End User (Schools & Universities, Enterprises, and Government)
At 11.3% CAGR, the Latin America Online Exam Proctoring Market is speculated to be worth US$ 46.61 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Latin America online exam proctoring market was valued at US$ 24.46 million in 2022 and is expected to reach US$ 46.61 million by 2028, registering a CAGR of 11.3% from 2022 to 2028. Cost-Effective operations of online exam proctoring and tremendous growth in e-learning are the critical factors attributed to the Latin America online exam proctoring market expansion.
The COVID-19 pandemic has led to several drastic changes in the education sector due to the imposition of social distancing and lockdown restrictions around the world; sudden rise in the number of online exams and assessments due to the temporary dismissal of classroom learning at private learning centers and public educational institutions, leading to the adoption of online learning, is boosting the demand for online exam proctoring solutions. The low cost of managing online assessment centers is another factor boosting the Latin America online exam proctoring market. Online proctoring cuts costs for organizations by ruling out the necessity of arranging in-person invigilators and test centers, which nullifies huge administrative burden and costs. These solutions are generally more helpful to the organization when trying to run test centers in remote locations.
Moreover, online exam proctoring providers can modify and update their products as per the client’s budget requirements. Online exam proctoring price range varies and depends on the type of examination, length and frequency of the exam and the required level of proctoring. For instance,
• Examity’s online proctoring solution starts at US$17/hour per student, including live authentication and proctoring.
• Proctortrack’s online proctoring solution costs US$5 per one exam hour. Whereas Examus offers greater flexibility and cost from US$0.5 to US$5 for one exam hour, based on chosen model.
Thus, cost-effective operations of online exam proctoring is driving the Latin America online exam proctoring market growth.
On the contrary, slow internet speed and technical complexities hurdles the growth of Latin America online exam proctoring market.
Based on type, the Latin America online exam proctoring market is segmented into advanced automated proctoring, recorded proctoring, and live online proctoring. The live online proctoring segment held 53.0% share of Latin America online exam proctoring market, amassing US$ 12.97 million. It is projected to garner US$ 24.41 million by 2028 to expand at 11.1% CAGR during 2022–2028.
Based on end user, the Latin America online exam proctoring market is segmented into schools & universities, enterprises, and government. The schools & universities segment held 62.2% share of the Latin America online exam proctoring market in 2022, amassing US$ 15.22 million. It is projected to garner US$ 29.91 million by 2028 to expand at 11.9% CAGR during 2022–2028.
Based on country, the Latin America online exam proctoring market has been categorized into Brazil, Argentina, Chile, Colombia, Peru, and the Rest of Latin America. Our regional analysis states that Brazil captured 55.3% share of Latin America online exam proctoring market in 2022. It was assessed at US$ 13.53 million in 2022 and is likely to hit US$ 26.36 million by 2028, exhibiting a CAGR of 11.8% during the forecast period.
Key players profiles in the Latin America online exam proctoring market report are Examity, Inc.; Honorlock Inc.; Inspera AS; Meazure Inc; Mettl; Proctortrack; and PSI Services LLC among others.
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