Corporate Assessment Services Market Size
[ 170 + Pages Research Report ] to surpass USD 3,357.1 million by 2030 from USD 6,366.6 million in 2020 at a CAGR of 6.7% in the coming years, i.e., 2021-30.
Companies utilize online corporate evaluation services to evaluate and train staff. Various key players provide solutions that allow companies to assess an applicant based on different parameters. In different areas, the online market for corporate evaluation services will increase at a high rate during the prediction period. Several new players appear in the market and the competition is increasing.
Market Highlights
The global Corporate Assessment Services Market is expected to project a notable CAGR of 6.7% in 2030.
Global Corporate Assessment Services market to surpass USD 3,357.1 million by 2030 from USD 6,366.6 million in 2020 at a CAGR of 6.7% in the coming years, i.e., 2021-30. The expansion of the online corporate assessment market is anticipated to be driven by an increase of focus on the evaluation of the applicant on different parameters, technological developments, and a growing focus on efficiencies and costs associated with the recruitment process. The growing popularity of gamification and consciousness about brain awareness are the main factors that create opportunities for market operators to build a strong client base.
Global Corporate Assessment Services Market: Segments
Coding test segment to grow with the highest CAGR during 2020-30
The global Corporate Assessment Services Market is segmented by product Type into Psychometric tests, Aptitude Tests, Coding Tests, and Others. During the projected timeline, the Coding test is expected to have the highest market share. The assessment of programmers' coding skills has proved to be an essential recruitment procedure in IT and software companies. In principle, these kinds of evaluation tests are executed to employ a programmer or software developer. An online code test or programming test, an online code test or a software test, and an online protocol code test are different screening methods for hiring programmers. In the virtual environment, all employers use code tests to recruit developers. If you have time, network capacity, and logistics, you hire a provider to test it or do it yourselves. Booking.com, ZS associates, Adobe, Societe Generale, Cognizant, HCL, and DRG are organizations that use coding testing.
Recruitment & Promotion segment to grow with the highest CAGR during 2020-30
Global Corporate Assessment Services Market is divided by services into Entrance Assessment Services, Recruitment & Promotion Assessment Services, Certification Assessment, Pre-Employment Assessment services, and Development Assessment services. The recruitment and promotion process is simplified and simplified by assessing the candidates' job-specific skills before they are recruited or promoted. The technical skills, knowledge, behavioral features, cognitive skills, and language skills required to play a particular role can be assembled through recruitment and promotional evaluation services. The promotion service helps organizations identify skills that an efficient employee possesses. The organization can hire or promote job-fit candidates through recruiting and promotion.
Market Dynamics
Drivers
Expansion of corporate market
The expansion of the online corporate assessment market is anticipated to be driven by an increase of focus on the evaluation of the applicant on different parameters, technological developments, and a growing focus on efficiencies and costs associated with the recruitment process.
Growing consciousness about gamification
The growing popularity of gamification and consciousness about brain awareness are the main factors that create opportunities for market operators to build a strong client base.
Restraint
Lack of regulation
Concerns related to network connectivity and budgetary allocation reliability and consistency may create obstacles to the future growth of the market.
Global Corporate Assessment Services Market: Key Players
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DDI
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- HireVue
- Aspiring Minds
- Arctic Shores Limited
- SHL
- Mettl Online Assessment
- IBM Corporation
- Development Dimensions International, Inc.
- Korn Ferry
- AON PLC
- Birkman International, Inc.
- Other Prominent Players
Global Corporate Assessment Services Market: Regions
Global Corporate Assessment Services Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. During the projected timeline, North America ought to have the highest share in the total market for Corporate Assessment Services. Compared to the rest of the world, the market in Northern America is most successful, due to a growing focus on testing and customized assessments in assistance of educational institutions and professional organizations' choice and personal service. In the United States, companies prefer evaluation services as they dramatically reduce hiring and recruitment times and costs. Tests can also prevent interviewers, based on intentional or unintentional prejudice, from recruiting or rejecting candidates. In addition, given that evaluation tests can be done remotely and electronically, the pool of aspiring candidates is increased.
Global Corporate Assessment Services Market is further segmented by region into:
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North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
The global Corporate Assessment Services Market report also contains an analysis on:
Corporate Assessment Services Market Segments
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By Product Type:
- Psychometric Test
- Aptitude Tests
- Coding Tests
- Others
- By Service
- Entrance Assessment Services
- Recruitment & Promotion Assessment Services
- Certification Assessment
- Pre-Employment Assessment Service
- Development Assessment Service
- Corporate Assessment Services Dynamics
- Corporate Assessment Services Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
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