Candidate Skills Assessment Market

Asia-Pacific is expected to witness significant growth during the forecast period, owing to rise in use of skill assessment services in recruitment positions.

PORTLAND , PORTLAND, OR, UNITED STATE, July 21, 2022 /EINPresswire.com/ -- Rise in need for efficiency & transparency in the hiring process, surge in adoption of pre-employment screening tests, and increase in internet users drive the growth of the global candidate skills assessment market.

However, lack of security standards and high cost restrain the market to some extent. On the other hand, technological advancement in pre-employment assessment services present new opportunities in the upcoming years.

According to the report published by Allied Market Research, the global candidate skills assessment market generated $1.93 billion in 2020, and is projected to reach $5.64 billion by 2030, witnessing a CAGR of 11.6% from 2021 to 2030.

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COVID-19 scenario:

• Due to the outbreak of the COVID-19 pandemic, the global candidate skills assessment market witnessed a sudden decline in 2020, owing to implementation of various skill enhancement campaigns by governments in majority of countries and businesses across the globe.

• However, the demand for candidate skills assessment software is increasing, coupled with rise in demand for skilled labor, thereby, leading to a mixed impact on the global candidate skills assessment market.

The report offers detailed segmentation of the global candidate skills assessment market based on component, deployment model, product type, end user, and region.

Based on component, the software segment held the highest market share in 2020, holding more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. However, the service segment is estimated to register the highest CAGR of 14.0% from 2021 to 2030.

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Based on end user, the corporate segment held the largest market share in 2020, holding nearly two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the education segment is projected to register the highest CAGR of 13.5% from 2021 to 2030.

Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 15.2% during the forecast period.

Leading players of the global candidate skills assessment industry analyzed in the research include Athena Assessment Inc., Berke, Devskiller, eSkill, HackerRank, HireVue, iMocha, Kandio, Mercer Mettl Assessments, and The Predictive Index.

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Key Benefits For Stakeholders

• The study provides an in-depth analysis of the candidate skills assessment market forecast along with the current trends and future estimations to explain the imminent investment pockets.

• Information about key drivers, restraints, & opportunities and their impact analysis on the global candidate skills assessment market is provided in the report.

• Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.

• The quantitative analysis of the market from 2020 to 2030 is provided to determine the market potential.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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