Global Corporate Assessment Services
Market Report
2024
The Global Corporate Assessment Services market was estimated at USD 5.5 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 5% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global corporate assessment services market was estimated at USD 5.5 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 5% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Corporate Assessment Services Market Sales Revenue 2022 | $ 5.5 Billion |
Global Corporate Assessment Services Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5% |
Market Split by Product Type |
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Market Split by Sectors |
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Market Split by Service Type |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Corporate Assessment Services Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The corporate assessment services market is a dynamic and essential segment within the broader human resources and talent management landscape. It encompasses a range of specialized services to evaluate and analyze various aspects of an organization's workforce, including skills, competencies, potential, and performance. These assessments are crucial for making informed decisions about talent acquisition, development, succession planning, leadership identification, and overall organizational effectiveness. The market operates across diverse industries and sectors, meeting the needs of businesses of all sizes, from small enterprises to multinational corporations. With the increasing emphasis on data-driven HR practices, the corporate assessment services market is important in helping organizations optimize their human capital strategies and align their workforce with strategic goals.
The corporate assessment service market is expected to grow substantially in the upcoming years due to various factors, including increased demand for employee training and development programs, increased adoption of online assessment services, and a growing emphasis on talent management and succession planning. Key players actively invest in product development and strategic alliances to grow their separate product ranges and establish a strong presence in the worldwide market.
For instance, in September 2020, IBM introduced a new corporate security assessment service focused on business risk. The program is intended to assist businesses in identifying and prioritizing security issues based on their potential impact on corporate operations, financial performance, and reputation.
(Source:newsroom.ibm.com/2020-09-22-IBM-Brings-Risk-Analytics-to-Security-Decision-Making)
The corporate assessment services industry is witnessing a significant trend toward digitization and adopting advanced technologies. Traditional assessment methods are being augmented or replaced by digital platforms, AI-driven tools, and data analytics. Virtual assessments enable organizations to evaluate candidates and employees remotely, enhancing efficiency and expanding geographical reach. AI-powered assessments provide insights into behavioral traits, cognitive abilities, and job fit, leading to more accurate hiring decisions and personalized development plans. This trend reflects the industry's evolution towards innovative, scalable, and data-rich assessment solutions.
For instance, in February 2023, the UAE's Ministry of Health and Prevention (MoHAP) inaugurated a 3D digital metaverse assessments service at Arab Health, allowing MoHAP to assess doctors and allied health practitioners using securely and remotely metaverse. Through artificial intelligence (AI), the service will improve the delivery of government and private healthcare services and streamline processes and procedures while ensuring data security. It will use AI technology to guarantee that medical certificates and personal data match during the assessment.
Budget limitations and cost considerations largely restrain the corporate assessment services market. Organizations might reevaluate their spending priorities, especially during economic downturns or periods of financial uncertainty, such as the COVID-19 pandemic. Investing in assessment services, particularly comprehensive or technology-driven solutions, can be considered an additional expense. Organizations might postpone or reduce assessment initiatives to allocate resources elsewhere. Moreover, smaller businesses or those in emerging markets may find premium assessment services cost-prohibitive, limiting their access to comprehensive assessment solutions and potentially impacting market growth in certain segments or regions.
The corporate assessment services market experienced a notable impact from the COVID-19 pandemic as organizations globally faced unprecedented challenges. The sudden shift to remote work disrupted traditional assessment methods, necessitating the rapid adoption of virtual and digital assessment solutions to remotely evaluate employee performance, skills, and potential. Business uncertainty prompted a greater focus on strategic workforce planning, with assessments used to identify critical talent, assess leadership capabilities for crisis management, and align skills with evolving business needs. On the other hand, the pandemic highlighted the significance of agile assessment strategies in navigating uncertainties, fostering skill development, and ensuring the right talent alignment for business continuity and recovery.
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The global market for corporate assessment services is fairly fragmented, with a few large and medium-sized firms accounting for the vast bulk of market revenue. Major players are implementing various methods, including mergers & acquisitions, strategic agreements & contracts, and developing, testing, and introducing more effective assessment services.
September 2021: Mercer l Mettl, a worldwide online talent assessments firm, has developed an innovative digital platform to perform virtual campus hiring drives to accelerate school recruiting processes influenced by COVID-19. The cutting-edge software allows businesses to recreate the step-by-step procedure of a traditional campus hiring drive by moving it online.
January 2020: SHL collaborated with IBM Corporation to provide premier talent assessments to businesses worldwide. The collaboration was formed to provide a transition path for Kenexa Assessment clients. SHL now provides IBM Kenexa Assessment test materials and its full talent assessments product through its revolutionary Talent Central platform.
Top Companies Market Share in Corporate Assessment Services Industry: (In no particular order of Rank)
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According to Cognitive Market Research, Asia Pacific dominated the global market in 2022 and accounted for a share of more than 40% of the global revenue. Asia Pacific region is experiencing robust economic growth and industrial expansion, resulting in a proliferation of businesses and industries across diverse sectors. As companies strive for competitiveness and efficiency, the demand for accurate and strategic talent assessments increases. The region's dynamic business landscape, characterized by established corporations and burgeoning startups, fuels the need for comprehensive assessment solutions to optimize workforce performance and drive organizational success.
According to Cognitive Market Research, China is expected to achieve the fastest growth rate within the Asia Pacific corporate assessment services market in the projected period. China's remarkable economic growth and status as a global manufacturing and technological hub have expanded diverse industries, ranging from manufacturing and technology to finance and healthcare. Besides, the rapid adoption of digital transformation and cutting-edge technologies has propelled the integration of digital assessment tools and platforms in China. The country's tech-savvy population and its position as an innovator in artificial intelligence and data analytics drive the demand for advanced assessment methodologies that align with these trends.
North America is the fastest-growing region in the global corporate assessment services market. North America is at the forefront of digital transformation, artificial intelligence, and data analytics. This tech-savvy environment paves the way for integrating cutting-edge digital assessment tools that provide insightful and actionable workforce data. The robust regional regulatory environment and compliance standards also contribute to the need for accurate employee assessments. Compliance with industry regulations and ethical standards requires thorough evaluations of employee competencies and adherence to organizational policies.
The current report Scope analyzes Corporate Assessment Services Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Corporate Assessment Services Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Corporate Assessment Services Industry growth. Corporate Assessment Services market has been segmented with the help of its Product Type, Sectors Service Type, and others. Corporate Assessment Services market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, aptitude tests are the most frequently utilized product type in the global market for corporate assessment services. Aptitude tests have emerged as the leading product choice due to their versatility, objectivity, and ability to assess a wide range of cognitive skills and abilities. These tests give organizations valuable insights into candidates' problem-solving capabilities, critical thinking skills, numerical and verbal reasoning, and overall cognitive aptitude. Organizations recognize that utilizing aptitude tests in their assessment strategies helps them make more informed and unbiased decisions, leading to a more diverse and qualified workforce.
Coding tests have become the second-most used product type category within the corporate assessment services market due to their significance in evaluating practical skills and technical understanding. The popularity of coding tests can also be attributed to their relevance in technical roles, particularly within IT, software development, and engineering sectors. Organizations seeking to fill roles that require coding expertise, such as software engineers or developers, rely on coding tests to differentiate between candidates based on their practical coding abilities.
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According to Cognitive Market Research, the corporate sector segment leads the global corporate assessment services market. Corporations across diverse industries recognize the critical importance of talent acquisition, development, and retention in maintaining competitiveness and achieving organizational goals. As a result, they heavily invest in robust assessment strategies to identify top talent, enhance workforce capabilities, and align with evolving industry demands.
On the other hand, the government segment emerges as the fastest-growing market segment. The digital transformation of government services and operations has driven the adoption of online and technology-enabled assessment methods. Remote proctoring, online exams, and interactive assessments have become essential tools to evaluate candidates and employees efficiently, even in remote work settings.
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The importance of the entrance assessment services category in the corporate assessment services market can be linked to its critical role in expediting the recruitment and admissions procedures of educational institutions and organizations. Entrance assessments are a key tool for educational institutions, enabling them to identify and select the most qualified candidates for admissions. Moreover, the digital transformation of educational processes has amplified the adoption of entrance assessment services. This digital accessibility enables institutions to reach a broader pool of candidates, including those from remote areas.
According to Cognitive Market Research, recruitment & promotion assessment is the second-most popular service type. These services comprehensively evaluate candidates' competencies, skills, and potential to excel in specific roles, making them essential for recruitment and promotion decision-making. This holistic evaluation ensures that candidates are selected for the right roles, contributing to higher performance and reduced turnover.
Senior Analyst at Cognitive Market Research
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.
I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building. I fulfill data requirements with thorough research and analytics. ME and My research team provide intelligence on industry stats, market structure, company profiles/Competition Analysis, Forecast Mapping, and Recently started providing the COVID-19 Impact Analysis.
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The Global Corporate Assessment Services Market is witnessing significant growth in the near future.
In 2023, the Psychometric Test segment accounted for noticeable share of global Corporate Assessment Services Market and is projected to experience significant growth in the near future.
The K-12 segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies AON (U.K.) , IBM (U.S.) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
https://www.epa.gov/regulatory-information-sector/construction-sector-naics-23
https://www.usace.army.mil/Missions/Civil-Works/Engineering-and-Construction/
https://www.abs.gov.au/statistics/industry/building-and-construction
https://business.gov.au/planning/industry-information/construction-industry
https://www.usitc.gov/research_and_analysis/tradeshifts/2021/footwear
Disclaimer:
Product Type | Psychometric Test, Aptitude Tests, Coding Tests, Others |
Sectors | K-12, Higher Education, Corporate, Government |
Service Type | Entrance Assessment Services, Recruitment & Promotion Assessment Services, Certification Assessment, Pre-Employment Assessment Service, Development Assessment Service |
List of Competitors | AON (U.K.), CEB (U.S.), IBM (U.S.), Pearson Vue (U.S.), PSI (U.S.), Tata Consultancy Services (India), Prometric (U.S.), Korn Ferry (U.S.), Mercer (U.S.), Hogan Assessments (U.S.), DDI (U.S.), Aspiring Minds (India), Yardstick (Canada), Chandler Macleod (Australia), TeamLease (India), NSEIT (India) |
This chapter will help you gain GLOBAL Market Analysis of Corporate Assessment Services. Further deep in this chapter, you will be able to review Global Corporate Assessment Services Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Corporate Assessment Services Market Trends North America Corporate Assessment Services Technological Road Map North America Corporate Assessment Services Market Drivers North America Corporate Assessment Services Market Restraints North America Corporate Assessment Services Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
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Chapter 11 Market Split by Sectors Analysis 2019 -2031
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Chapter 12 Market Split by Service Type Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Corporate Assessment Services market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Psychometric Test have a significant impact on Corporate Assessment Services market? |
What are the key factors affecting the Psychometric Test and Aptitude Tests of Corporate Assessment Services Market? |
What is the CAGR/Growth Rate of K-12 during the forecast period? |
By type, which segment accounted for largest share of the global Corporate Assessment Services Market? |
Which region is expected to dominate the global Corporate Assessment Services Market within the forecast period? |
Segmentation Level Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Service Level Customization |
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