Others segment to dominate Asia Pacific Personality Assessment Solutions Market during 2020–2028
According to The Insight Partners market research study on “Asia Pacific Personality Assessment Solutions Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Delivery Model and End-User,” is expected to reach US$ 4,823.20 million by 2028 from US$ 1,989.81 million in 2021. The market is estimated to grow at a CAGR of 13.5% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific personality assessment solutions market along with the drivers and restraints pertaining to the market growth. Pros of personality assessment solutions, boosting adoption of personality assessment solutions for recruitment process, and thriving adoption of cloud-based personality assessment solutions are the major factor driving the growth of the Asia Pacific personality assessment solutions market. However, challenges related with personality assessment solutions hinder the growth of Asia Pacific personality assessment solutions market.
In 2020, because of many cases in China, the Asia Pacific region was greatly affected by COVID-19. The country also homes the most significant population worldwide, thereby imposing greater risk on many individuals; it is also a world leader of many world-wide brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other significant economies outside China, such as India, Australia, and Japan, and is experiencing low inflation. Further, in 2021, the offices are operating fluently with the uplifting of lockdown and ongoing vaccination process. Due to the high presence of the IT sector, the personality assessment solutions market is growing irrespective of the COVID-19 impact. Due to the pandemic, there is a rush towards new-age technology-aided recruitment/HR tools. Corporates want to have data-based and analysis-driven inputs to make recruitment decisions. They employ various modern tools to ensure candidates and personality assessment solutions are one of them. For instance, according to the Economic Times of May 2021, pre-employment technical assessments, advanced coding simulators, and online coding interviews are in huge demand for hiring software developers, data scientists, data mining professionals, and front-end and back-end developers in the Asia Pacific. Moreover, in 2021, after the colleges are being re-opened with remote studying facilities, the personality assessment solutions help students decide their career path.
The Asia Pacific personality assessment solutions market is segmented on the basis of delivery model, end-user, and country. Based on delivery model, the personality assessment solutions market is segmented into in-house and outsourced. In 2020, outsourced segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. On the basis of end-user, the personality assessment solutions market is segmented into corporate/enterprise, academic/education, and government. In 2020, corporate/enterprise segment held the largest share in the market and academic/education is expected to be the fastest growing segment during the forecast period. Further based on corporate/enterprise, the personality assessment solutions market is segmented into BFSI, hospitality, IT & Telecom, media & entertainment, healthcare & pharmaceutical, and others. In 2020, others segment held the largest share in the market and hospitality is expected to be the fastest growing segment during the forecast period. Based on country the market is segmented into the China, Japan, India, Australia, South Korea, and Rest of APAC. In 2020, China held the largest share in the market and Rest of APAC is expected to be the fastest growing country during the forecast period.
Criteria Corp; Hogan Assessments; Development Dimensions International, Inc.; Persona Labs; SHL; TTI Success Insights; Aon plc.; and Mercer LLC are among the leading companies in the Asia Pacific personality assessment solutions market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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