Business

Assessment Services Market Growth, Recent Trends, Industry Analysis, Outlook

A novel report on global Assessment Services market is published by Emergen Research, offering current developments and emerging trends of the market. The report offers a comprehensive overview of the market along with details about market size, market share, revenue growth, and top companies. The report covers all crucial and essential information related to global Assessment Services market to help readers, investors, clients to gain a thorough understanding of the market and invest accordingly. Various advanced statistical tools such as SWOT analysis or Porter’s Five Forces are used in the report.

The global assessment services market size reached USD 12.32 Billion in 2021 and is expected to register a revenue CAGR of 7.3% during the forecast period, according to latest analysis by Emergen Research. Increasing number of competitive examinations and certifications and rising need for skill assessment for increasing employability are some key factors driving global assessment services market revenue growth.

Rising necessity among competition-conducting bodies associated with tests such as TOEFL and PAPI 3 to sign up specialist exam-conducting firms and growing inclination among various sectors to opt for online computer-based tests are other key factors driving revenue growth of the global market. Focus on professional development through assessment services helps employees to develop their skills and improve performance. These services are used as part of training to accommodate new employees, educate current employees and impart new skills for the same job, and promote employees into positions requiring different skill sets.

The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Assessment Services market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.

Companies profiled in the global Assessment Services market:

Korn Ferry, Pearson Education Inc., Aon Plc, TeamLease, Development Dimensions International, Inc., Mercer LLC, PSI Services LLC, Hogan Assessments, Talent Plus Inc., and IBM Corporation

The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.

Key Highlights from the Report

  • Coding test segment accounted for significantly large revenue share in 2021. Evaluating coding skills of programmers has emerged as an essential procedure in recruitment in IT and software firms. These types of assessment tests are generally conducted to hire a software developer or programmer. The different screening methods for hiring a programmer are a coding test or programming test, an online code test or software test, and an online proctored code test.
  • K-12 includes 12 years – from Kindergarten to 12th grade – and steady increasing competitiveness among school students and study efforts and options for preparation for competitive exams from an early age is driving revenue growth of this segment. For instance, Byju’s Think & Learn is a K-12 based online platform that offers plenty of courses focusing on India’s K-12 students. The company provides improved learning services through online, next-level, intuitive graphical programs and enhanced self-assessment services.
  • Entrance assessment services are a way for educational institutes and organizations to understand the potential of a student or candidate. It is usually used as an educational skills assessment by schools and colleges as a part of the general admission process. The primary purpose of entrance assessment services is to help the client ascertain that all the selected individuals possess the required skills and proficiencies needed to face the challenges in the specific job role or educational program.

Assessment Services Market segmentation

Type Outlook:

  • Product Type Outlook (Revenue, USD Billion; 2019–2030)

    • Psychometric Test
    • Aptitude Tests
    • Coding Tests
    • Others
  • Product Type Outlook (Revenue, USD Billion; 2019–2030)

    • Psychometric Test
    • Aptitude Tests
    • Coding Tests
    • Others
  • Product Type Outlook (Revenue, USD Billion; 2019–2030)

    • Psychometric Test
    • Aptitude Tests
    • Coding Tests
    • Others

Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Regional Outlook of Assessment Services Market:

  • North America
    • S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • K.
    • Italy
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • A.E.
    • South Africa
    • Rest of MEA

Key Features of the Assessment Services Market Report:

  • The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
  • The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
  • Evaluation of key current and emerging market trends and growth prospects
  • It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
  • Brief overview of industry with regards to research and development, technological advancements, and product development
  • In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario

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