Corporate Assessment Services Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[227+ Pages Report] 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 4,504.48 million by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.

Market Overview

Assessment services are defined as the systematic gathering, review, and use of data about academic support, educational programming, business solutions, and social services in order to improve quality, plan ahead and make quick decisions. As advanced digital assessment systems offer a wide range of functions, the introduction of new technologies and software applications has revolutionized the nature and usage of assessment in numerous ways. Assessment services are extremely beneficial in higher education because they provide numerous benefits such as improved student learning, development, and engagement, robust programs and services, accurate need assessments and growing opportunities for improvement, and improved communication and collaboration among departments and offices. Increased demand 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 the use of assessment services in recent years.

Increased demand for assessment services from competition-conducting authorities to enroll in specialist exam-conducting businesses, as well as an increasing inclination among governments and corporations to put applicants through online exams, are driving market revenue growth. Other major factors driving revenue growth of the global assessment services market include an increase in the number of courses in the education industry, a shift in preference towards online tests or assessments due to the steady digitization trend, and a focus on reducing the use of paper to conduct tests at domestic and international levels without the need to travel at the applicants' convenience and time. Due to a shift in preference for conducting numerous competitive exams, the demand for e-Books, online and digital content, and interactive study tools is expanding.

Impact of COVID – 19

COVID-19 began in December 2019 in Wuhan (China) and has since spread rapidly throughout the world. Due to lockdowns, travel bans, and business shutdowns, the COVID-19 has had an impact on economies and industries in a number of countries. The closure of various plants and factories has disrupted global supply chains, affecting global manufacturing, delivery schedules, and product sales. Few companies have already announced possible delays in product deliveries and a drop in future product sales. Furthermore, global travel bans imposed by countries have an impact on business collaborations and partnership opportunities.

The complete research study looks at both the qualitative and quantitative aspects of the global corporate assessment services market. Both the demand and supply sides of the market have been investigated. The demand side study examines market income in various regions before comparing it to all of the major countries. The supply-side research examines the industry's top rivals, as well as their regional and global presence and strategies. Each major country in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America is thoroughly investigated.

Segmentation Analysis

The global Corporate Assessment Services market is segregated based on product, application, hiring phase and hiring level.

Based on the product, Psychometric tests are commonly used as part of the hiring process to analyze a candidate's abilities, IQ, and personality. Recruiters use the test findings to judge whether or not the candidate is a good fit for the firm. Personality profiling (a form of the psychometric test) is commonly used as a stepping stone in the hiring process. It can also be done after a thorough examination of specific abilities. During telephone interviews, various companies pose questions about qualities and personality that are administered verbally. Competency tests are a form of personality test used in the recruitment process by big corporations all over the world.

As per the application, the certification assessment services segment is expected to grow at a rapid pace during the forecast period. Professional certification, academic degrees, and product certification, among other accreditations, are all reviewed as part of certification assessment services. Certification evaluation services are commonly used in professional settings as well as educational institutions. Using these services, businesses can verify that certifications supplied by individuals are genuine.

Report Scope

Regional Landscape

With an increasing emphasis on tests and custom-made assessment services to support selection and staffing services for educational institutions and professional organizations, North America accounted for the largest revenue share in the assessment services market in 2021. Individual evaluation as part of the hiring process is crucial in determining whether a candidate is a suitable fit for the job and the firm. These evaluation services help businesses, as well as educational institutions and organizations, locate the finest candidates for their jobs.

Competitive Landscape

List of Key Players in the Global Corporate Assessment Services Market:

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

The global corporate assessment services market is segmented as follows:

By Product Segment Analysis

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

By Application Segment Analysis

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

By Hiring Phase Segment Analysis

• Pre-Hire
• Post-Hire

By Hiring Level Segment Analysis

• Executive
• Entry Level
• Professional
• Others

By Regional Segment Analysis

• 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