Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "Assessment Services Market, By Assessment Type, By Industry Vertical and By Geography- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global assessment services market is anticipated to achieve substantial growth, projected to reach a valuation of $28.34 billion by the year 2030, reflecting a robust Compound Annual Growth Rate (CAGR) of 9.7% over the forecast period.
Critical Role of Assessment Services
Assessment services play an integral role across various domains such as education, recruitment, and professional development. They offer invaluable insights and evaluations that support informed decision-making processes. These services involve systematic data collection, analysis, and interpretation to measure knowledge, skills, abilities, and competencies. Assessments not only gauge performance, strengths, and areas for improvement but also guide the decision-making process.
Employing diverse methods such as tests, interviews, simulations, and performance evaluations, assessment services offer standardized and objective approaches to evaluate individuals' capabilities, academic achievements, job qualifications, and growth potential. As the focus on data-driven decision-making intensifies, assessment services continue to evolve, integrating innovative technologies and methodologies to ensure fairness, validity, and reliability throughout the assessment process.
Market Drivers and Opportunities
The global assessment services market is expected to experience growth driven by increasing emphasis on education quality and technological advancements.
Moreover, the demand for personalized learning, globalization, international benchmarking, skills gap assessment and training, gamified and simulation-based assessments, and digital credentials are anticipated to propel market growth. These trends cater to the evolving needs of education and employment sectors, creating opportunities for growth and innovation.
Challenges and Restraints
However, the market may face challenges such as resistance to change, standardization issues, and concerns related to bias and fairness. These factors might hinder the growth of the assessment services market over the forecast period.
Market Dynamics Overview:
Drivers:
- Increasing emphasis on education quality
- Technological advancements
Restraints:
- Standardization challenges
- Bias and fairness concerns
Opportunities:
- Skills gap assessment and training
- Gamified and simulation-based assessments
Key Features and Insights:
- This report offers insights into potential revenue opportunities across segments and presents attractive investment propositions for the market.
- It provides key insights into market drivers, restraints, opportunities, trends, and competitive strategies.
- Profiles of key players are included, highlighting company highlights, product portfolios, financial performance, and strategies.
- Stakeholders can make informed decisions regarding product launches, upgrades, market expansion, and marketing tactics based on insights from this report.
Detailed Segmentation:
Assessment Types:
- Aptitude Tests
- Personality Tests
- Skill Tests
- Behavioral Assessments
- Psychometric Assessments
- Career Assessments
- Leadership Assessments
- Others
Industry Verticals:
- Information Technology (IT)
- Healthcare and Life Sciences
- Banking, Financial Services, and Insurance (BFSI)
- Manufacturing
- Retail
- Education
- Government and Public Sector
- Others
Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Delivery Modes:
- Online Assessment Platforms
- In-person Assessments
- Blended (Online and In-person)
Regions:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Company Profiles:
- 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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 162 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $14.83 Billion |
| Forecasted Market Value (USD) by 2030 | $28.34 Billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ffkkwh
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