Candidate Skills Assessment Market Growth Trends Analysis and Dynamic Demand, Forecast 2023 to 2032

The candidate skills assessment market was valued at $2.3 billion in 2022, and is estimated to reach $7.4 billion by 2032, growing at a CAGR of 12.6% from 2023 to 2032.

Candidate skills assessment market refers to the industry or market segment that provides tools, services, and platforms for evaluating and measuring the skills of job candidates. This market has become increasingly important as businesses seek efficient and effective ways to assess the qualifications and capabilities of potential employees. Furthermore, the key component of candidate skills assessment market include online testing platforms, customized assessments, data analytics and reporting, integration with application tracking systems, industry specific solutions and others.

Request Sample Report: https://www.alliedmarketresearch.com/request-sample/A14269

Major market players adopted various strategies to increase the competition and offer enhanced services to their customers in the candidate skills assessment market.For instance, in August 2021, iMocha launched AI-englishpro platform to empower organizations to build winning customer-facing teams. The platform empowers allow employers to objectively and accurately assess candidates business English competence. By using an unbiased, AI-powered, and straightforward approach, recruiters and hiring managers can create successful customer-facing teams by assessing candidates' Business English fluency with AI-English Pro. The assessment tool is particularly helpful for lateral hiring, university recruitment, campus employment, and learning and development programs within an enterprise. Furthermore, in June 2023, Dassault Systemes partnered with Cranfield University to deliver a new 3D experience education centre of excellence. The campus facility will provide experiential, initial and lifelong learning with Dassault Systemes 3D experience platform that enables the existing and future workforce to accelerate the digital and sustainable transformation of the aerospace industry. Therefore, such strategies foster candidate skills assessment market share growth in the ICT sector.

Based on component, the software segment dominated the market in 2022. This is attributed to the large number of candidate skills assessment software providers available in the market. However, the service segment is expected to grow in the future. This is attributed to the growing demand for skills assessment service and gradually increasing candidate skills assessment service providers.

Based on region, North America dominated the market in 2022. This is attributed to the increasing rise of competition between service providers. In addition, key players in the region are providing more security for data by ensuring quick access and greater outreach. However, the Asia-Pacific region is expected to grow in the future, owing to the large number of technological start-ups and large investment of IT companies growing in the region.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/14638

Employers are increasingly recognizing the importance of soft skills such as communication, adaptability and emotional intelligence, thus driving the importance of candidate skills assessment platform as the platform possess the feature to evaluate both technical and soft skills of candidate. In addition, integration of artificial intelligence (AI) and machine learning (ML) in skills assessment tool is on the rise. These technologies are helping to automate certain aspects of assessment process such as analysis and data insights generation. Furthermore, game playing elements are being incorporated into skill assessment platforms, thus making the assessment process more engaging and interactive. Moreover, due to rapid technological changes, organizations are placing greater emphasis on continuous learning and up-skilling. The technology is not only getting used in assessment but it is also getting used in training and development. All these factors are driving candidate skills assessment market size growth."

COVID-Impact

Covid-19 has increased demand for remote assessments. Currently employers are looking for tools and platforms to evaluate candidate skills effectively without the requirement for in-person interactions. In addition, after the COVID impact, companies are preferring adoption of virtual interview and assessment platforms to streamline hiring process, as it is provides flexibility, saves time and reduces cost. Furthermore, the rise of online learning and certification is on horizon. In addition, increasing integration of artificial intelligence and automation in candidate skill assessment platform is in-process, as this is helping in analyzing and evaluating candidate performance more efficiently.

Buy Now and Get Discount : https://www.alliedmarketresearch.com/candidate-skills-assessment-market/purchase-options

Key findings of the study

By component, the software segment led the candidate skills assessment market forecast in terms of revenue in 2022.
By deployment mode, on-premise segment led the candidate skills assessment market analysis in terms of revenue in 2022.
By product type, aptitude/psychometric test segment led the candidate skills assessment industry in terms of revenue in 2022.
By end-user, corporate segment led the candidate skills assessment industry in terms of revenue in 2022.
By process, assessment segment led the candidate skills assessment market in terms of revenue in 2022.
By region, North America generated the highest revenue in 2022.

The report analyzes the profiles of key players operating in the candidate skills assessment market such as The Predictive Index., Berke, Mercer Mettl Assessments, eSkill, Devskiller, HackerRank, iMocha, Kandio, Athena Assessment Inc., and HireVue. These players have adopted various strategies to increase their market penetration and strengthen their position in the candidate skills assessment market.

Read More: https://www.alliedmarketresearch.com/press-release/candidate-skills-assessment-market.html

David Correa
1209 Orange Street
Corporation Trust Center
Wilmington
New Castle
Delaware 19801
USA Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.