USD 13.51 billion
Global Assessment Services Market Size, Share, Growth Analysis, By Assessment Type(Aptitude Tests, Personality Tests), By Industry vertical(Information Technology (IT), Healthcare and Life Sciences), By Organization size(Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Delivery mode(Online Assessment Platforms, In-person Assessments) - Industry Forecast 2024-2031
Report ID:
SQMIG25R2020 |
Region:
Global |
Published Date: March, 2024
Pages:
223
|
Tables:
128 |
Figures:
77
Global Assessment Services Market Insights
Global Assessment Services Market size was valued at USD 13.51 billion in 2022 and is poised to grow from USD 14.82 billion in 2023 to USD 31.08 billion by 2031, growing at a CAGR of 9.7% in the forecast period (2024- 2031).
The global assessment services market is experiencing a profound transformation driven by advancements in technology and evolving educational and corporate needs. Educational institutions, employers, and certification bodies are increasingly relying on assessment services to gauge knowledge, skills, and competencies. Technology-driven solutions, such as online testing and automated scoring, have made assessments more accessible and efficient.
Furthermore, the growing importance of lifelong learning and the need to validate skills in a rapidly changing job market are expanding the market's scope. As a result, the assessment services market is poised for continued growth as it plays a pivotal role in shaping education and workforce development strategies.
However, ensuring the security and fairness of assessments and addressing privacy concerns remain ongoing challenges in this dynamic landscape.
US Assessment Services Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Online Assessment Platforms
Fastest Growth
Online Assessment Platforms
Growth Rate
9.7% CAGR
Global Assessment Services Market ($ Bn)
Country Share for NORTH AMERICA Region (%)
Global Assessment serivces market by Delivery mode ($ Bn)
Global Assessment serivces market by Delivery mode (%)
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Global Assessment Services Market Segmental Analysis
The global assessment services market is segmented into five major Assessment types, Industry Vertical, Organization size, Delivery mode and region. Based on Assessment type, the market is bifurcated as, Aptitude Tests, Personality Tests, Skill Tests, Behavioural Assessments, Psychometric Assessments, Career Assessments, Leadership Assessments, Others. On the basis of Industry vertical type the market is segmented as, Information Technology (IT), Healthcare and Life Sciences, Banking, Financial Services, and Insurance (BFSI), Manufacturing, Retail, Education, Government and Public Sector, Others. On the basis of Organization size is segmented as Small and Medium-sized Enterprises (SMEs), Large Enterprises. Based on delivery mode, it is divided into Online Assessment Platforms, In-person Assessments, Blended (Online and In-person). Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Assessment Services Market Analysis by Assessment Type
Psychometric assessments were considered to be dominating the global assessment services market. This dominance can be attributed to their versatility and effectiveness in evaluating a wide range of attributes, including cognitive abilities, personality traits, and behavioral tendencies. Psychometric assessments offer valuable insights for both educational and corporate purposes, aiding in recruitment, career development, and personal growth. Their ability to provide standardized, reliable, and objective data has made them a preferred choice for many organizations and educational institutions seeking to make informed decisions about individuals' suitability for specific roles or programs.
However, the personality tests have emerged as one of the fastest-growing segments. This growth can be attributed to several factors, including the increasing recognition of the importance of soft skills and personality traits in both education and the workplace. Personality assessments help employers and educational institutions understand an individual's behavioral tendencies, communication style, and cultural fit within organizations, making them valuable tools for hiring, team-building, and career development.
Assessment Services Market Analysis by Delivery Mode
Among the different delivery modes, the online assessment platform was gaining dominance in the global assessment services market. This shift was driven by several factors, including the increasing prevalence of digital learning and remote work environments, especially in the wake of the COVID-19 pandemic. Online assessment platforms offer the advantages of scalability, accessibility, and convenience, making them well-suited for educational institutions, corporations, and certification bodies looking to efficiently evaluate individuals' knowledge and skills across diverse geographical locations. Furthermore, these platforms often incorporate advanced features such as automated grading and data analytics, providing valuable insights to enhance the assessment process.
However, blended (Online and In-person) assessments are currently the fastest-growing mode of delivery in the global assessment services market, following closely behind online assessments. This growth can be attributed to the flexibility and adaptability that blended assessments offer. They combine the convenience of online assessment platforms with the assurance of in-person evaluation, making them suitable for a wide range of scenarios. Blended assessments are particularly valuable in education, certification programs, and corporate training, where a hybrid approach ensures the integrity of evaluations while accommodating varying needs and circumstances, including remote learning and on-site testing requirements.
Global Assessment services market by Delivery mode, 2023 (%)
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Global Assessment Services Market Regional Insights
North America continues to hold a significant share of the global assessment services market. This region's leadership is driven by several factors, including the presence of well-established educational and corporate sectors that heavily rely on assessment services. The United States and Canada remain key contributors to the market due to their extensive use of standardized testing for educational admissions, certifications, and employment assessments. Additionally, the region benefits from ongoing advancements in assessment technology and a strong demand for workforce development and skills validation.
However, Asia Pacific stands out as the fastest growing in the global assessment services market. The region's remarkable growth is attributed to several key factors. First, the Asia Pacific boasts a burgeoning education sector, with increasing investments in both public and private education. Second, the demand for professional certifications and skills validation is surging in this region, driven by a rapidly evolving job market. Additionally, advancements in technology have made online and computer-based testing more accessible, catering to the diverse needs of learners and organizations.
Global Assessment services market by Geography, 2024-2031
- Largest
- Fastest
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Global Assessment Services Market Dynamics
Assessment Services Market Drivers
Increasing Emphasis on Education Quality
- The focus on improving education quality and outcomes worldwide is a significant driver of the assessment services market. Governments, educational institutions, and stakeholders are increasingly recognizing the importance of accurate and reliable assessments to measure student performance, identify areas for improvement, and drive educational reforms.
Assessment Services Market Restraints
Bias and Fairness Concerns
- Assessment services need to address concerns related to bias, fairness, and inclusivity. Bias can occur in assessment content, scoring methods, or administration, leading to unequal opportunities and outcomes. Ensuring that assessments are free from cultural, gender, and socioeconomic biases is crucial for maintaining trust and integrity in the market. Mitigating bias and enhancing fairness in assessments requires ongoing research, validation, and continuous improvement processes.
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Global Assessment Services Market Competitive Landscape
The global assessment services landscape is marked by a competitive environment where numerous providers vie to meet the evolving needs of educational institutions, corporations, and other entities. These providers offer a diverse range of assessment and testing solutions, encompassing academic evaluations, employee assessments, and professional certifications.
Notably, technology plays a pivotal role, with many companies leveraging advanced platforms and AI-driven tools to deliver efficient and secure assessment experiences. Collaborations with educational institutions and organizations to develop customized assessment solutions are increasingly common, enhancing the market's adaptability. Moreover, ongoing efforts to address issues of fairness, accessibility, and data security underscore the industry's commitment to delivering reliable and unbiased assessment services in an ever-evolving landscape.
Assessment Services Market Top Player’s Company Profiles
- EB, now part of Gartner (US)
- SHL (UK)
- Hogan Assessments (US)
- Talent Q, a part of Korn Ferry (UK)
- Cognizant (US)
- IBM Corporation (US)
- Pearson PLC (UK)
- Mercer LLC (US)
- Deloitte (US)
- Korn Ferry (US)
- PwC (US)
- Prometric (US)
- DDI (Development Dimensions International) (US)
- Mettl (India)
- Cubiks (UK)
- Assessment Systems Corporation (US)
- Saville Assessment (UK)
- AssessmentDay (UK)
- Wonderlic, Inc. (US)
- Cut-e Group (Norway)
Assessment Services Market Recent Developments
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In February 2024, the National Cyber Security Centre (NCSC) warned of an expected expansion in worldwide ransomware dangers fueled by advancements in artificial intelligence.
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In February 2024, IBM is extending its scope of expert services custom-made for Cisco clients with new contributions for Cisco SDN and SD-WAN clients, alongside a remote evaluation service for Cisco network infrastructure. IBM's Technology Lifecycle Services (TLS) group currently offers help for Cisco's software-characterized networking and SD-WAN solutions, as well as presenting the IBM Network Health Check for Cisco networking.
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In October 2023, there is an emphasis on sustainably creating global blue carbon to address environmental change and receive financial rewards through global cooperation.
Global Assessment Services Key Market Trends
- Micro-Credentials and Digital Badges: Micro-credentials, which validate specific skills or accomplishments, and digital badges are gaining traction as portable and verifiable forms of recognition. Assessment services are increasingly incorporating these credentials and badges into their offerings. This trend allows individuals to showcase their skills and achievements in a granular and easily shareable format, supporting lifelong learning and career advancement.
Global Assessment Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global assessment services market analysis, the global assessment services market is undergoing dynamic changes driven by the evolving demands of education, employment, and professional development.
Advancements in technology have propelled the market's expansion, with online platforms and sophisticated tools reshaping assessment methodologies. A significant trend is the increasing focus on personalized assessment, tailoring evaluations to individuals' unique strengths and skills.
Additionally, the COVID-19 pandemic accelerated the adoption of remote testing, ushering in new challenges and opportunities for secure and efficient virtual assessment. As organizations and institutions recognize the critical role of assessments in talent acquisition, learning, and skills validation, the market continues to diversify its offerings to cater to various sectors, including education, corporate, and government.
The need for fairness, transparency, and data privacy remains a central concern, prompting continuous innovation in test design, delivery, and result analysis. Amidst these transformations, the global assessment services market remains poised for further expansion, playing a pivotal role in shaping the future of learning and professional growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 13.51 billion |
| Market size value in 2031 | USD 31.08 billion |
| Growth Rate | 9.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Assessment Services Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Assessment Services Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Assessment Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Assessment Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Assessment Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Assessment Services Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Assessment Services Market Report Snapshots
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