A recent report published by Infinium Global Research on the personality assessment solutions market provides an in-depth analysis of segments
and sub-segments in the global as well as regional personality assessment solutions
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional personality assessment solutions market
over the short term as well as the long term. The report is a comprehensive
presentation of trends, forecasts, and dollar values of the global personality
assessment solutions market. According to the report, the global personality
assessment solutions market is projected to grow at a CAGR of 12.33% over the
forecast period of 2021-2027.
The personality assessment solutions market was valued at USD 7551.3
billion in 2021 and is expected to reach USD 15171.3 billion in 2027, with a
CAGR of 12.33% during the forecast period. Personality assessment solutions
contain a sequence of scientifically designed scenarios and questions that
allow the assessment of applicants on characteristics like motivation level,
thinking style, capabilities, leadership qualities, generic personality traits,
and social skills. Performance analysis on applicant personality assessments
helps recruiters to spot potential employees. The scope of personality
assessments helps the hiring process. It has an important role in employee
development. Organizational culture and the growth of employees’ potential have
positively influenced business growth. The rising utilization of technological
advancement is taken into account as a crucial factor that may propel the world
questionnaire solution market. The personality test solution is utilized in
various sectors like corporate, government, and industrial sectors.
Continuous Improved and development in advanced solutions is the
major driving factor for the expansion of the personality assessment solutions
market during the forecast period. The rising utilization of personality assessment
solutions for the recruitment process is anticipated to drive market growth.
The requirement of questionnaire solutions in the educational sector for career
guidance support will propel the market growth. Various benefits and increasing
utilization of cloud-based personality inventory solutions will boost the
market growth. The rise in the demand for the digital workforce is resulting in
the adoption of personality inventory solutions. The provision of reliable
personnel data is helpful in today's fast-paced business environments to handle
economic volatility and make effective recruitment decisions for training and
development. This can be driving organizations to adopt packaged questionnaire
solutions that are combined with succession planning software, compensation
management, and career routing management solutions. Technical issues
associated with personality inventory solutions are expected to restrain the
expansion of the market during the forecast period.
Based on region, the global personality assessment solutions
market has been segregated into North America, Asia Pacific, Europe, &
Africa. North America is anticipated to capture the very best market share of
the personality assessment solutions market within the forecast period. North
America is a major contributor to the world personality assessment solutions
market. North America is one of the critical regions for the questionnaire
solution market in terms of the adoption and growth of recent technologies
thanks to favorable government policies to increase innovation, the presence of
a considerable industrial base, and high purchasing power, especially in
countries like the US and Canada. The Asia Pacific is anticipated to dominate
the market growth during the forecast period. The rising use of personality
assessment solutions from educational sectors in developing countries like
India and China will expand the expansion of the region.
The report on the global personality assessment solutions market
covers segments such as delivery model, channel provider, and end-user. On the
basis of delivery model, the sub-markets include in-house, and outsourced. On
the basis of channel provider, the sub-markets include corporate/enterprise,
and government. On the basis of end-user, the sub-markets include banking and
financial services, hospitality, education, media & entertainment,
healthcare & pharmaceuticals, and others.
The report provides profiles of the companies in the market such
as Criteria Corp., Hogan Assessments, Development Dimensions International,
Inc., Persona Labs, SIGMA Assessment Systems Inc., Paradox, Inc., TTI Success
Insights, Mercer LLC, Thomas International Ltd, and The Predictive Index.
The report provides deep insights into demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the personality
assessment solutions market. Moreover, the study highlights current market
trends and provides forecasts from 2021-2027. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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