Dublin, Jan. 21, 2022 (GLOBE NEWSWIRE) -- The "Personality Assessment Solution Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.
The global personality assessment solutions market is expected to grow from US$ 7,421.59 million in 2021 to US$ 16,461.43 million by 2028; it is estimated to grow at a CAGR of 12.1% during 2021-2028.
Using personality assessment tests with current employees and sharing the results can help team members better understand each other. When employees understand how their co-workers and managers prefer to communicate, they become more productive and comfortably adapt to the environment. Moreover, the personality test for employee development helps HRs gain insight into how an employee can be groomed for future roles by highlighting their potential personality traits. For instance, if an individual shows a high presence of mind, critical thinking abilities, and stress managing abilities, that person can be put in a strategic leadership role.
The solution can also gauge employee agility, their preferred mode of learning, and how they respond to change. All these data insights can be effectively used to make the right decisions in organizational planning, promotions and appraisals, as well as leadership development. With the ongoing COVID-19 pandemic, there has been a growth in remote working and the hiring process is being conducted online. This may not be able to test the proper knowledge about the employee, so with a personality assessment test, the supervisors will get to know about his/her skills and give training on where they are lacking. For instance, Aon plc. provides personality assessment for working employees.
The personality assessment solutions market is segmented on the basis of delivery model, end-user, and geography. Based on delivery model, the market is bifurcated into in-house and outsourced. The outsourced segment represented a larger share of the overall market in 2020. In terms of end-user, the personality assessment solutions market is segmented into corporate/enterprise, academic/education, and government. In 2020, the corporate/enterprise segment accounted for the substantial share of the market. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Europe accounted for the significant share in the global market.
In 2020, the impact of COVID-19 pandemic differed from country to country across Europe as selected countries such as France, Spain, Italy among other witnessed an increase in the number of COVID-19 confirmed cases and subsequently experienced strict and longer lockdown periods or social isolation. However, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of the robust healthcare system. To protect citizens from the virus spread, the European government made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus. Further, in 2021, the offices are operating fluently with the uplifting of lockdown and ongoing vaccination process.
In the beginning of 2020, the economic activity in many sectors were having ground to a near standstill, many businesses were struggling to uphold their financial obligations. With uncertainty looming large, many companies are considering adjustments in their workforce. This could put millions of jobs at risk through reductions in hours or pay, temporary furloughs, or permanent layoffs. For instance, according to McKinsey & Company data of April 2020, the COVID-19 crisis could leave up to 59 million jobs at risk in Europe, a staggering 26% of total employment in the 27 member countries of the European Union and the UK. Further, in mid-2020 and 2021, the businesses have adopted the online requirement process due to remote working, resulting in the high adoption of personality assessment solutions. Therefore, the COVID-19 pandemic somehow has a positive impact on the personality assessment solutions market growth.
A few major players operating in the global personality assessment solutions market are Criteria Corp.; Hogan Assessments; Development Dimensions International, Inc.; Persona Labs; SHL; SIGMA Assessment Systems Inc.; Paradox, Inc.; TTI Success Insights; Aon plc.; and Mercer LLC.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global personality assessment solutions market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global personality assessment solutions market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Personality Assessment Solutions Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 APAC- PEST Analysis
4.2.4 Middle East and Africa - PEST Analysis
4.2.5 South America - PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Personality Assessment Solutions Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Adoption of Personality Assessment Solutions for Recruitment Process
5.1.2 Requirement of Personality Assessment Solutions in Educational Sector for Career Guidance Support
5.2 Market Restraints
5.2.1 Issues Related with Personality Assessment Solutions
5.3 Market Opportunities
5.3.1 Benefits of Personality Assessment Solutions
5.4 Future Trends
5.4.1 Escalating Adoption of Cloud-Based Personality Assessment Solutions
5.5 Impact Analysis of Drivers and Restraints
6. Personality Assessment Solutions Market - Global Analysis
6.1 Personality Assessment Solutions Market Global Overview
6.2 Personality Assessment Solutions Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Personality Assessment Solutions Market Analysis - By Delivery Model
7.1 Overview
7.2 Personality Assessment Solutions Market, By Product Type (2020 and 2028)
7.3 In-House
7.3.1 Overview
7.3.2 In-House: Personality Assessment Solutions Market - Revenue, and Forecast to 2028 (US$ Million)
7.4 Outsourced
7.4.1 Overview
7.4.2 Outsourced: Personality Assessment Solutions Market - Revenue, and Forecast to 2028 (US$ Million)
8. Personality Assessment Solutions Market Analysis - By End User
8.1 Overview
8.2 Personality Assessment Solutions Market, By End-User (2020 and 2028)
8.3 Corporate/Enterprise
8.3.1 Overview
8.3.2 Corporate/Enterprise: Personality Assessment Solutions Market - Revenue, and Forecast to 2028 (US$ Million)
8.3.2.1 BFSI
8.3.2.1.1 Overview
8.3.2.1.2 BFSI: Personality Assessment Solutions Market - Revenue, and Forecast to 2028 (US$ Million)
8.3.2.2 Hospitality
8.3.2.2.1 Overview
8.3.2.2.2 Hospitality: Personality Assessment Solutions Market - Revenue, and Forecast to 2028 (US$ Million)
8.3.2.3 IT & Telecom
8.3.2.3.1 Overview
8.3.2.3.2 IT & Telecom: Personality Assessment Solutions Market - Revenue, and Forecast to 2028 (US$ Million)
8.3.2.4 Media & Entertainment
8.3.2.4.1 Overview
8.3.2.4.2 Media & Entertainment: Personality Assessment Solutions Market - Revenue, and Forecast to 2028 (US$ Million)
8.3.2.5 Healthcare & Pharmaceuticals
8.3.2.5.1 Overview
8.3.2.5.2 Healthcare & Pharmaceuticals: Personality Assessment Solutions Market - Revenue, and Forecast to 2028 (US$ Million)
8.3.2.6 Others
8.3.2.6.1 Overview
8.3.2.6.2 Others: Personality Assessment Solutions Market - Revenue, and Forecast to 2028 (US$ Million)
8.4 Academic /Education
8.4.1 Overview
8.4.2 Academic / Education: Personality Assessment Solutions Market - Revenue, and Forecast to 2028 (US$ Million)
8.5 Government
8.5.1 Overview
8.5.2 Government: Personality Assessment Solutions Market - Revenue, and Forecast to 2028 (US$ Million)
9. Personality Assessment Solutions Market - Geographic Analysis
10. Impact of COVID-19 Pandemic on Global Personality Assessment Solutions Market
10.1 Overview
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 APAC: Impact Assessment of COVID-19 Pandemic
10.5 MEA: Impact Assessment of COVID-19 Pandemic
10.6 SAM Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Market Initiative
11.2 Merger and Acquisition
11.3 New Development
12. Company Profiles
12.1 Criteria Corp.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Hogan Assessments
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Development Dimensions International, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Persona Labs
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 SHL
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 SIGMA Assessment Systems Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Paradox, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 TTI Success Insights
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Aon plc.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Mercer LLC
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Eightfold AI
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 Thomas International Ltd
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
12.13 Culture Index
12.13.1 Key Facts
12.13.2 Business Description
12.13.3 Products and Services
12.13.4 Financial Overview
12.13.5 SWOT Analysis
12.13.6 Key Developments
12.14 The Predictive Index
12.14.1 Key Facts
12.14.2 Business Description
12.14.3 Products and Services
12.14.4 Financial Overview
12.14.5 SWOT Analysis
12.14.6 Key Developments
13. Appendix
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