Candidate Skills Assessment Market Research | Industry Size USD 5.64 Billion by 2030

Candidate Skills Assessment Industry Introduction:

The global candidate skills assessment size was valued at $ 1.93 billion in 2020, and is projected to reach $ 5.64 billion by 2030, growing at a CAGR of 11.6% from 2021 to 2030.

Candidate skill assessment helps users to be aware of the areas that need development. In addition, increasing demand from competition-conducting authorities to enroll specialist exam-conducting companies and rise in preference among governments and corporates to opt for online exams is anticipated to drive the candidate skills assessment share in the coming years. Furthermore, deployment of this technology is making recruitment method more effective and helping employers connect with potential candidates through aptitude tests.

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Candidate Skills Assessment Market Drivers:

• Increasing demand for skilled workers: In a rapidly changing job market, businesses are looking for employees with the right skills to fill open positions. Skills assessments help companies identify the candidates with the most relevant skills and experience.

• Automation of hiring processes: Many companies are turning to automation to streamline their hiring processes. Skills assessments can be administered online, reducing the time and resources needed to evaluate candidates.

• Growth of remote work: The COVID-19 pandemic has accelerated the trend towards remote work, which has increased the demand for skills assessments that can be administered remotely. This trend is likely to continue, as many companies have embraced remote work as a permanent solution.

• Emphasis on diversity and inclusion: Companies are increasingly focused on building diverse and inclusive workforces. Skills assessments can help eliminate bias in the hiring process and ensure that all candidates are evaluated fairly.

• Technological advances: Advances in technology have made it easier and more efficient to administer skills assessments. Machine learning and artificial intelligence can help analyze assessment data and provide insights into candidate performance.

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Candidate Skills Assessment Market Trends:

• Focus on soft skills: While technical skills are still important, many companies are placing a greater emphasis on soft skills such as communication, collaboration, and problem-solving. Skills assessments are increasingly being used to evaluate these skills, in addition to technical competencies.

• Gamification of assessments: Skills assessments are being gamified to make them more engaging and interactive. This approach can help increase candidate participation and provide a more accurate evaluation of their abilities.

• Personalization of assessments: Companies are seeking more personalized assessments that are tailored to specific job roles and industries. This approach can help identify the most relevant skills for a given position and improve the accuracy of the evaluation.

• Integration with applicant tracking systems (ATS): Skills assessments are being integrated with ATS to streamline the hiring process. This integration can help automate candidate evaluation and reduce the time and resources needed to identify the best candidates.

• Use of artificial intelligence (AI): AI is being increasingly used in skills assessments to provide more accurate evaluations and reduce bias in the hiring process. Machine learning algorithms can analyze large volumes of data to identify patterns and provide insights into candidate performance.

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The key players profiled in the candidate skills assessment analysis are Athena Assessment Inc., Berke, Devskiller, eSkill, HackerRank, HireVue, iMocha, Kandio, Mercer Mettl Assessments, and The Predictive Index. These players have adopted various strategies to increase their candidate skills assessment market penetration and strengthen their position in the industry.

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