North America Corporate Assessment Services Market Growth Insights to 2027 - AON, Arctic Shores, Aspiring Minds, Birkman International

The corporate assessment services market in North America is expected to grow from US$ 482.1 Mn in 2018 to US$ 731.6 Mn by the year 2027 with a CAGR of 4.9% from the year 2019 to 2027.

The market for corporate assessment services is fragmented with the presence of due to the presence of a significant number of companies operating in the market. Moreover, the strong presence of regional market players with limited geographic focus and a notable customer base within the local market has further boosted the overall competitiveness existing in the market. The companies operating in the corporate assessment services market are offering a wide range of assessment services for different hiring levels. Also, the service providers are focusing on offering cutting edge solutions to their clients by integrating advanced technologies such as AI and predictive analytics to provide the recruiters with actionable insights to help them during the hiring process.

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The List of Companies

1. AON PLC
2. Arctic Shores Limited
3. Aspiring Minds
4. Birkman International, Inc.
5. Development Dimensions International, Inc.
6. HireVue
7. Korn Ferry
8. IBM Corporation
9. Mettl Online Assessment
10. SHL

During the forecast period of 2019 to 2027, the cognitive by product is anticipated to be the largest contributor in the corporate assessment services market. Whereas, performance segment is projected to be the fastest-growing application with the highest CAGR over the forecast period.

Cognitive assessment is a type of pre-employment assessment that evaluates a candidate's aptitude to solve problems. Cognitive aptitude can be the optimal predictor of job performance. It includes multiple-choice items that evaluate several mental abilities, such as numerical and verbal ability, reasoning, and reading knowledge. Performance assessment tools need employees to demonstrate or prove that they have mastered the area being assessed.

Canada is anticipated to be the fastest growing country in the corporate assessment services market in 2018. The growing number of entrepreneurs and young jobseekers are one of the significant drivers for the corporate assessment services market in Canada. They often prefer an internet platform where they can find new and several forms of employment. The online exam uses the internet to conduct assessments where the applicants are assessed on a fully-automated platform. Thus, the rising preference among corporates to opt for online exams is anticipated to fuel the corporate assessment services market demand during the forecast period.

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