Assessment Services Market Recent Trends, Growth, Industry Analysis, Outlook, Insights, Share and Forecasts Report 2030
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Surge in demand for skill assessment for better employability is one of the significant factors driving market revenue growth
VANCOUVER, BC, CANADA, April 5, 2022 /EINPresswire.com/ -- The global assessment services market size reached USD 12.32 Billion in 2021 and is expected to register a revenue CAGR of 7.3% during the forecast period, according to latest analysis by Emergen Research. Increasing number of competitive examinations and certifications and rising need for skill assessment for increasing employability are some key factors driving global assessment services market revenue growth.
Rising necessity among competition-conducting bodies associated with tests such as TOEFL and PAPI 3 to sign up specialist exam-conducting firms and growing inclination among various sectors to opt for online computer-based tests are other key factors driving revenue growth of the global market. Focus on professional development through assessment services helps employees to develop their skills and improve performance. These services are used as part of training to accommodate new employees, educate current employees and impart new skills for the same job, and promote employees into positions requiring different skill sets.
The market intelligence reports on Assessment Services market dives deep into aspects including but not limited to the market size, growth and share across different regions to keep the stakeholders and business owners informed and help them make a wise business decision. For data-savvy product owners, sophisticated business evangelists and information-focused filed marketing personnel, looking to incorporate qualitative figures into their fundamental perspective the report presents an unrivalled statistical data on both past and future industry trends.
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Increasing younger labor force is a key factor propelling market growth. Corporates and governments emphasize on screening for a candidate to be put through evaluation tests to suit organizational requirements. According to data published by the US Bureau of Labor Statistics, the youth labor force expands considerably between April and July each year. Large numbers of high school and college students usually seek summer jobs during this period, and several graduates step into the labor market to search for or commence permanent occupations. In the summer of 2020, the youth labor force increased by 19.8% – equivalent to 3.6 million individuals – to an overall 21.5 million labor force in July compared to 18.8 million in 2019.
The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities,
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
Korn Ferry, Pearson Education Inc., Aon Plc, TeamLease, Development Dimensions International, Inc., Mercer LLC, PSI Services LLC, Hogan Assessments, Talent Plus Inc., and IBM Corporation.
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Furthermore, the report divides the Assessment Services market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global assessment services market on the basis of product type, service type, medium, sectors, and region:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
Psychometric Test
Aptitude Tests
Coding Tests
Others
Service Type Outlook (Revenue, USD Billion; 2019–2030)
Entrance Assessment Services
Recruitment & Promotion Assessment Services
Certification Assessment
Pre-Employment Assessment Service
Development Assessment Service
Medium Outlook (Revenue, USD Billion; 2019–2030)
Online
Offline
Sectors Outlook (Revenue, USD Billion; 2019–2030)
K-12
Higher Education
Corporate
Government
The study delivers real answers for questions about market segmentation by types, region and application to power the overall market research for the forecast period. Subject matter experts behind the market analysis have collaborated with some of the highly acclaimed business owners to track records and estimate what is happening in areas such as technology innovation, production volume, end-use and product pricing. Research analysts have further remodeled their approach to present a report uniquely positioned to offer unmatched information on prominent manufactures, new entrants, exiting white spaces, acquisitions and mergers, collaborations and product launches.
Overview of the Assessment Services Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Assessment Services industry
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