Assessment Training Is Fastest Growing Segment Fueling The Growth Of Assessment Services Market


https://www.coherentmarketinsights.com/market-insight/assessment-services-market-5935
Assessment Services Market 


The global Assessment Services Market is estimated to be valued at US$ 14.83 Bn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview

Assessment services are used by companies to evaluate job applicants and current employees. It helps employers in screening of the candidates based on their skills, qualifications and personality. Common assessments tools include psychometric tests, coding challenges, games simulations and video interviews.

Market key trends

One of the key trends in the assessment services market is the growing adoption of adaptive assessment and artificial intelligence. Adaptive assessment allows personalized evaluation by adjusting difficulty of questions based on candidate's responses. It provides comprehensive analysis of skills in less time. AI is being used for proctoring exams remotely to prevent cheating and also for analyzing interview responses, resumes to hire best fitting candidates. Gamification of assessments is another trend where core job skills are evaluated through simulations and games to evaluate real-time decision making of candidates in interactive scenarios. This helps in assessing soft skills and suitability of candidates for roles.

Segment Analysis

The global assessment services market is segmented on the basis of type, delivery mode, enterprise size and industry vertical. The skills assessment segment is expected to dominate the market during the forecast period due to increasing focus of organizations on evaluating skills and competencies of candidates to select best suitable talent.

Key Takeaways

The global Assessment Services Market Demand is expected to witness high growth, exhibiting CAGR of 9.7% over the forecast period, due to increasing focus of organizations on employing technically skilled and competent workforce.

Regional Analysis:
North America is expected to dominate the assessment services market during the forecast period. This is attributed to presence of major assessment service providers and early adoption of technologies in the region. Asia Pacific region is expected to grow at the fastest pace due to rising number of startups and increasing investments in people assessment practices in countries like India and China.

Key Players:
Key players operating in the assessment services market are CEB, now part of Gartner, SHL, Hogan Assessments, Talent Q, a part of Korn Ferry, Cognizant, IBM Corporation, Pearson PLC, Mercer LLC, Deloitte, Korn Ferry, PwC, Prometric, DDI (Development Dimensions International), Mettl, Cubiks.


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