The global assessment services market is projected to be worth USD 11.47 Billion by 2027, according to a current analysis by Emergen Research. The assessment services market is projected to observe a high demand by the year 2027. The growing necessity of competition-conducting authorities’ associated with tests, such as TOEFL and PAPI 3, to sign up specialist exam-conducting firms and growing inclination among the various sectors to opt online computer-based tests drives the market growth. Concentrating on professional developments through assessment services help employees in developing their skills and improving their performance. These services are used as training to accommodate new employees, educate current employees’ new skills for the same job, and promote employees into positions requiring different skill sets.
The latest report has been drafted, keeping in mind the current COVID-19 situation many vital aspects of the global Assessment Services market on both global and regional levels. The research focuses on the significant market changes that followed the COVID-19 outbreak. The report offers an accurate estimation of the market value, size, and revenue share in the post-COVID-19 scenario, alongside encapsulating the present and future effects of the pandemic. The report further details the key points of the Assessment Services market, including the latest market standards, regulations, and policy changes imposed by the government for the upcoming years. The report also involves the application of several advanced analytical tools, such as SWOT analysis and Porter’s Five Forces analysis, to pinpoint the current growth trends and operating patterns of the players.
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Key Highlights From The Report
- In January 2020, SHL, a company involved in providing assessment services, entered into a strategic alliance with IBM Corporation for offering talent assessments services to businesses worldwide.
- Ford Motor, a leading automotive manufacturer, conducts the “One Ford” assessment, a psychometric test, to ascertain whether the personal values and skills are in alignment with the company’s values. The test is intended to assess a candidate’s aptitude to perform in a team while achieving work excellence.
- The MCCEE is a screening examination that evaluates the basic medical knowledge and problem solving of a candidate at a level similar to a minimally skilled medical student carrying out his or her medical study in Canada and about to go for supervised practice.
- The market in the Asia Pacific region, led by China, is projected to grow at the fastest rate of 8.5% in the period 2020-2027, attributed to a growing number of competitive certifications tests, the increasing necessity for skill assessment for better employability, and the rising labor force population in the region.
- Key market participants comprise Korn Ferry, Pearson VUE, IBM Corporation, TeamLease, Aon PLC, DDI, Mettl, Hogan Assessment Systems Inc., PSI Services LLC, and Talent Plus Inc., among others.
Assessment Services Market Segmentation:
Emergen Research has segmented the global assessment services market on the basis of product type, services type, medium, sectors, and region:
- Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Psychometric Test
- Aptitude Tests
- Coding Tests
- Services Type Outlook (Revenue, USD Billion; 2017-2027)
- Entrance Assessment Services
- Recruitment & Promotion Assessment Services
- Certification Assessment
- Pre-Employment Assessment Service
- Development Assessment Service
- Medium Outlook (Revenue, USD Billion; 2017-2027)
- Sectors Outlook (Revenue, USD Billion; 2017-2027)
- Higher Education
Regional analysis provided in the report covers the key regions of North America, Europe, Latin America, AsiaPacific, and Middle East & Africa. Additionally, the report offers a country-wise analysis of the Assessment Services industry with respect to the import/export analysis, production and consumption pattern, supply and demand ratio, revenue share, market share and size, and other key aspects.
- North America(U.S.A., Canada)
- Europe(U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific(India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America(Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa(Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Focal Points of the Global Assessment Services Market Report:
- Market Coverage: This section of the report covers significant details on the key manufacturers, vital market segments, product innovation scope, and the forecast years. Additionally, it describes in detail the range of the product and the global Assessment Servicesmarket segmentation based on product type and application spectrum.
- Executive Summary: In this chapter, the global market growth rate, competitive landscape, drivers and constraints, trends, limitations, and the key market segments have been discussed at length.
- Regional Analysis: The report offers meaningful insights into the import and export trends, production and consumption capacities, estimated revenue share, and key players of each region dominating the market
- Competitive Landscape: The report also discusses the course of development of each market player in this industry vertical during the forecast period. It further details on the firms, industries, organizations, vendors, and local manufacturers engaged in this industry. The leading products and services to gain global and regional market shares form the competitive landscape of the Assessment Services industry.
- Manufacturers’ portfolios: This section includes detailed information regarding the product portfolio of each local and global manufacturer, their strengths and weaknesses, product profiles, production value and capacity, and other vital information.
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Assessment Services Market Segmentation & Impact Analysis
4.1. Assessment Services Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. A rise in the number of competitive & certification tests
188.8.131.52. Surging demand for skill assessment for better employability
184.108.40.206. A rapid growth in the youth labor force population
220.127.116.11. Growing competition conducting authorities’ requirement to sign up specialist examination conducting firms
18.104.22.168. Growing inclination amongst the corporates and governments to opt for online computer-based tests
4.2.3. Market restraints analysis
22.214.171.124. Budget concerns
126.96.36.199. Concerns associated with network connectivity
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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About Emergen Research
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