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Global Corporate Assessment Services Market Share Is Expected to Grow At A CAGR Value Of Around 6.10% By 2028

08-Jun-2022 | Facts and Factors

According to Facts and Factors, the global corporate assessment services market was valued at USD 3,183.50 million in 2021 and is predicted to increase at a CAGR of 6.10% to USD 4504.48 million by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.

The number of job immigrants has increased as a result of globalization, primarily in industrialized countries. Apparel, textiles, leather, agriculture, information technology, and other industries are seeing an increase in employment immigration. One of the key elements pushing the adoption of Big Data applications in assessment service offerings has been the internet. Search engines, advertisers, social networking sites, and others may now easily obtain massive amounts of data about employees thanks to the Internet. Businesses can leverage the data acquired via Big Data technology to boost internal promotions. The growing need for skill evaluation to improve employability and general organization efficiency, as well as an increase in the number of competitive assessments across the education sector, have hastened assessment adoption.

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Browse the full “Corporate Assessment Services Market By Product (Psychometric Tests, Aptitude Tests, Coding Tests, Job Specific Functional Tests, Others), By Application (Campus Recruitment, Entrance Assessment Services, Recruitment & Promotion Assessment Services, Certification Assessment Services), By Hiring Phase (Pre-Hire, Post-Hire), By Hiring Level (Executive, Entry Level, Professional, Others), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast 2022 – 2028"  report at https://www.fnfresearch.com/corporate-assessment-services-market

For employees' professional growth, the majority of corporate evaluation services incorporate exercises and training. Employees can strengthen their abilities and improve their performance by focusing on professional development through assessment services. These services are used to train new employees, educate current employees on new skillsets required for their present responsibilities, and promote individuals into jobs needing different skillsets. Assessment services ensure that personnel is up to speed on changing job requirements and changes in the relevant industries outside and inside conditions.

Based on the hiring phase, the global corporate assessment services market is divided into pre-hire and post-hire segments. To hire any candidate, a company must go through a step-by-step procedure to identify its needs, recruit, and finally hire the best candidates. Most organizations have a hiring process; however, each company's hiring procedure is distinct. Various companies conduct the hiring process, which includes the pre-hire and post-hire processes, all over the world. Assessment tests are popular among employers because they significantly minimize the cost and time associated with recruiting.

Based on the hiring level, companies employ corporate assessment services at numerous hiring levels, including executive, entry-level, professional, and others. Corporate assessment services are utilized at the executive level for leadership development and determining an individual's ability to succeed and make a positive effect in a key leadership job. At the entry level of the employment process, corporate evaluation tools are used to analyze the candidates' talents and skills. Companies use corporate assessment services to identify, attract, shortlist, and develop people at the professional level.

North America accounted for the biggest revenue share in the assessment services market in 2021, owing to a growing emphasis on tests and custom-made assessment services to support selection and staffing services for educational institutions and professional organizations. Individual evaluation as part of the recruitment process is critical in identifying whether a possible applicant is a good match for the post and the company. These evaluation services assist businesses to find the best candidates for their jobs, as well as candidates in educational institutions and organizations.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 3,183.50 Million

Projected Market Size in 2028

USD 4,504.48 Million

CAGR Growth Rate

6.10% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

AON Plc, Arctic Shores Limited, Aspiring Minds, Birkman International, Inc., Development Dimensions International, Inc., HireVue, Korn Ferry, IBM Corporation, Mettl Online Assessment, SHL, and Others

Key Segment

By Product, Application, Hiring Phase, Hiring Level, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Key players involved in Global Corporate Assessment Services Market are AON Plc, Arctic Shores Limited, Aspiring Minds, Birkman International, Inc., Development Dimensions International, Inc., HireVue, Korn Ferry, IBM Corporation, Mettl Online Assessment, SHL, and others.

The Global Corporate Assessment Services Market is segmented as follows:

By Product

  • Psychometric Tests
  • Aptitude Tests
  • Coding Tests
  • Job Specific Functional Tests
  • Others

By Application

  • Campus Recruitment
  • Entrance Assessment Services
  • Recruitment & Promotion Assessment Services
  • Certification Assessment Services

By Hiring Phase

  • Pre-Hire
  • Post-Hire

By Hiring Level

  • Executive
  • Entry Level
  • Professional
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

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