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Surge in demand for skill assessment for better employability is one of the significant factors driving market revenue growth
VANCOUVER, BRITISH COLUMBIA, CANADA, July 19, 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.
The Global Assessment Services Market report is a detailed study of the different segments of the market, factors driving and restraining the growth of the market, and regional landscape based on the data gathered from both primary and secondary sources of data collection, along with the research methodology employed for analysis provided in the study. The market overview, SWOT analysis, and insights into the strategies adopted by key players operating in the Assessment Services market help understand the market forces and how those can be exploited to benefit from future opportunities.
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.
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Key Market Players mentioned in this 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.
Some Key Highlights from the Report
Coding test segment accounted for significantly large revenue share in 2021. Evaluating coding skills of programmers has emerged as an essential procedure in recruitment in IT and software firms. These types of assessment tests are generally conducted to hire a software developer or programmer. The different screening methods for hiring a programmer are a coding test or programming test, an online code test or software test, and an online proctored code test.
K-12 includes 12 years โ from Kindergarten to 12th grade โ and steady increasing competitiveness among school students and study efforts and options for preparation for competitive exams from an early age is driving revenue growth of this segment. For instance, Byjuโs Think & Learn is a K-12 based online platform that offers plenty of courses focusing on India's K-12 students. The company provides improved learning services through online, next-level, intuitive graphical programs and enhanced self-assessment services.
Entrance assessment services are a way for educational institutes and organizations to understand the potential of a student or candidate. It is usually used as an educational skills assessment by schools and colleges as a part of the general admission process. The primary purpose of entrance assessment services is to help the client ascertain that all the selected individuals possess the required skills and proficiencies needed to face the challenges in the specific job role or educational program.
ย The research study gives a comprehensive analysis of the market with the help of several analytical tools and helps identify and capitalize on the growth prospects existing in the Assessment Services Market. It also offers accurate insights into the prevalent business strategies. The market overview gives growth estimations based on historical analysis and a detailed evaluation of the gross revenue, demand and supply dynamics, volume, market share, pricing structure, and profit margin for each market segment. The regional analysis takes into consideration the overall sales and CAGR to underline the leading companies in each regional market based on product types and product applications.
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; 2019โ2030)
Psychometric Test
Aptitude Tests
Coding Tests
Others
Service Type Outlook (Revenue, USD Billion; 2019โ2030)
Entrance Assessment Services
Recruitment & Promotion Assessment Services
Certification Assessment
Pre-Employment Assessment Service
Development Assessment Service
Medium Outlook (Revenue, USD Billion; 2019โ2030)
Online
Offline
Sectors Outlook (Revenue, USD Billion; 2019โ2030)
K-12
Higher Education
Corporate
Government
View Exhaustive Market Research Report @ https://www.emergenresearch.com/industry-report/assessment-services-market
The report offers three types of Assessment Servicess and uses analytical tools like Porterโs Five Forces analysis, SWOT analysis, and both qualitative and quantitative assessment of the market. It estimates the market size in the forecast duration by studying its value, volume, market share, growth rate, and other market essentials. It gives extensive company profiles, wherein the analysts explain the expansion tactics adopted by market leaders, including both long- and short-term strategies, and other vital competitive factors of significant businesses in the global Assessment Services market.
The report provides an in-depth study of the product, application, and regional segments of the global nano- and micro-satellite industry. As part of the regional analysis, the report includes an assessment of the leading regions of North America, Europe, India, China, and the EMEA.
Reasons to buy this report:
It evaluates a comprehensive structure and overview of the Assessment Services Industry.
It provides accurate insights into critical factors like drivers and constraints, growth rate, value, volume, market share, and overall revenue.
It studies the growth prospects, challenges, drivers and restraints operating in the market.
It allows the reader to understand the Assessment Services market competition by assessing the top vendors, with elaborate company profiles, gross revenue, profit margin, import-export status, and global market share.
It brings to light the pricing structure, demand and supply dynamics, value chain analysis, SWOT analysis to support the formulation of lucrative business strategies.
It lists the data sources referred to during the study, detailed research methodology and other vital findings.
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The Assessment Services Market report also includes an investment analysis and growth trend analysis to help readers maximize their return on investment. It highlights the growth opportunities existing in the global Assessment Services market segments. It offers an extensive investigation of the import-export status and the rates of production and consumption. The Assessment Services Market report also provides some of the essential market aspects to draw a forecast for the coming years based on the information derived as part of the historical analysis and an analysis of the current market scenario.
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