Report : Corporate Assessment Services Market to 2027 - Global Analysis and Forecast by Product (Cognitive, Personality, Knowledge, Performance, Company Fit, Others); Application (Campus Recruitment, Entrance Assessment Services, Recruitment & Promotion Assessment Services, and Certification Assessment Services); Hiring Phase (Pre-Hire, and Post-Hire); Hiring Level (Executive, Entry Level, Professional, and Others)
The global corporate assessment services market was valued US$ 2.71 Bn in 2018 and is expected to reach US$ 4.69 Bn by 2027 with a CAGR growth rate of 6.5% in the forecast period from 2019 to 2027.
Corporate assessment services assist the organizations in identifying, hiring, and developing the best-fit talent for a given profile. With the growing focus towards hiring the perfect fit for a job role and efficiency in managing the recruitment process, companies are shifting towards corporate assessment services. The traditional assessment process is time-consuming and involves high costs, and the corporate assessment tools assist the organizations in efficiently managing the recruitment process and reading the time and cost associated with it. In the current competitive environment, companies are using corporate assessment tools to effectively engage and recruit and retain experienced professionals to achieve a competitive advantage over other companies.
The rate of unemployment has been high in the past. However, it has decreased in the recent years due to the rising number of young jobseekers and growing economic growth of various countries in APAC, including India and China. The developments in youth labor markets in North America, Sub-Saharan Africa, and Europe have attracted more talent toward these regions, which led to the increase in employment rate during 2010-2016. Strong internet infrastructure in various regions has enabled applicants to search for jobs in various industries anytime and anywhere. The robust internet infrastructure providing an online platform for hiring process is also benefitting the employers looking for potential candidates from different areas of the world. A rising number of young jobseekers is one of the substantial factors boosting the adoption of corporate assessment services as this rise is compelling organizations to conduct the process of recruitment with the assistance of tools such as cognitive, personality, language proficiency tools, and so on. They can also access online platforms for assessing tests along with figuring out new forms of work in several industries, which can provide flexibility to them while searching a job.
The report segments the global corporate assessment services market as follows:
Global Corporate Assessment Services Market - By Product
Global Corporate Assessment Services Market - By Application
Global Corporate Assessment Services Market - By Hiring Phase
Global Corporate Assessment Services Market - By Hiring Level
Global Corporate Assessment Services Market - By Geography
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