Press release
Online Assessment Software Global Market Reach $7.27 Billion at a CAGR of 16.8% By 2028, Key Factors behind Market's Exponential Growth
Online Assessment Software Market
According to The Business Research Company's, The online assessment software market size has grown rapidly in recent years. It will grow from $3.35 billion in 2023 to $3.91 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to global events and crises, educational reform initiatives, regulatory compliance, and pedagogical shifts.
The online assessment software market size is expected to see rapid growth in the next few years. It will grow to $7.27 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to rise in remote and hybrid learning, continued technological Innovation, and focus on accessibility and inclusivity. Major trends in the forecast period include blockchain-based credentialing and digital certificates, gamification and interactive assessments, and emphasis on accessibility and inclusivity.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/online-assessment-software-global-market-report
Market Drivers and Trends:
The increasing adoption of remote work practices is expected to propel the growth of the online assessment software market going forward. Remote work practices refer to organizations and individuals' strategies, methodologies, and guidelines to effectively conduct work outside of a traditional office environment. It arises because of technological advancements, cost savings, access to talent, increased productivity, and a changing work culture. Online assessment software used for remote work operates through various mechanisms to facilitate the assessment process regardless of the physical location of the participants. For instance, in June 2023, according to reports published by Forbes Media LLC, a US-based media company, around 12.7% of full-time employees are working from home in 2023, while 28.2% use a hybrid model in the US. Further, it is expected that 32.6 million people will be working remotely by 2025. Therefore, the increasing adoption of remote work practices is driving the growth of the online assessment software market.
Major companies operating in the online assessment software market focus on digitalizing academic exams to adapt to the changing landscape of education and recruitment processes. This platform refers to an online system or software application that enables the creation, administration, and management of examinations or assessments entirely through a web browser. For instance, in February 2021, Mercer LLC, a US-based financial services company, launched its web-based examination platform to digitize academic exams. This platform offers a comprehensive suite of tools for conducting virtual assessments, online exams, and talent evaluations. It provides remote proctoring, skill evaluation, and customizable assessments to cater to various organizational needs. Additionally, it features remote proctoring, automated grading, real-time monitoring, streamlined administration, and faster turnaround.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=14763&type=smp
Major Key Players of the Market:
Mercer LLC, McGraw-Hill Education Holdings LLC, Blackboard Inc, Pearson VUE, Edmentum Inc, Desire2Learn Incorporated, PSI Services LLC, Canvas by Instructure Inc, Moodle Pty Ltd, Mettl, Top Hat Monocle Corp, Questionmark Computing Limited, Talview Inc, TestReach Limited, Schoology Inc, ProProfs Quiz Maker, ProctorU Inc, Learnosity Ltd, ExamSoft Assessment Solutions, iSpring Solutions Inc, Kryterion Inc, WizIQ Inc, Respondus Inc, Think Exam, Surpass Ltd
Online Assessment Software Market 2024 Key Insights:
• The online assessment software market size is expected to see rapid growth in the next few years. It will grow to $7.27 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%.
• The Rise Of Remote Work And Its Impact On The Online Assessment Software Market
• Innovative Solutions Driving The Evolution Of Online Assessment Software
• North America was the largest region in the online assessment software market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=14763&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Online Assessment Software Global Market Reach $7.27 Billion at a CAGR of 16.8% By 2028, Key Factors behind Market's Exponential Growth here
News-ID: 3692518 • Views: …
More Releases from The Business research company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Assessment
3 Best Assessment Help Websites in Australia | Assessment Help For Students
Are you a student struggling with deadlines and complex assignments? You're not alone! Thousands of students across Australia are turning to assessment help services to get expert guidance, improve grades, and reduce academic stress.
From online assessment help to professional assessment writers, here's everything you need to know - including the top 3 websites offering the best assessment help in Australia.
[https://www.assessmenthelper.com/]
Assessment Help Australia: Your Go-To Support for Academic Success
Students across the…
5 Best Assessment Help Websites In Australia | Assessment Help For Students
Looking for Assessment Help Australia? Look no further! Here are the top 5 Assessment Help Websites in Australia that can supercharge your academic journey. The world of academic support is at your fingertips. Whether it's complex subjects, tight deadlines, or a need for expert guidance, Online Assessment Help for students have got you covered.
[https://assessmenthelper.com/]
"Why stress when you can access expert assistance? Get the grades you deserve with tailored guidance and…
Online Assessment Help UK: Top 3 Assessment Help Websites for Students
In today's fast-paced academic world, students often struggle to complete their assignments and assessments on time. Whether you need assessment help, instant assessment help, or expert guidance for university projects, finding the right assessment help UK service can make all the difference.
(https://thestudenthelpline.io/au/assessment-help.php)
If you are a student searching for assessment help for university students, this article introduces the top 3 best assessment help UK websites that offer high-quality support. These platforms…
Shaping the Future of Assessment: The 2025 International e-Assessment Conference
The e-Assessment Association is delighted to announce that the 2025 International e-Assessment Conference and Awards, the world's premier event dedicated to digital assessment, takes place from 9th-11th June 2025 in London.
Under the theme Shaping the Future of Assessment: Innovation, Inclusion, and Integrity in a Digital World, this year's conference will showcase the latest advancements in technology-driven assessment, bringing together visionaries, educators, policymakers, and technology pioneers to explore transformative innovations shaping…
Assessment Help UK By Best Assessment Writers
In today's competitive academic environment, students face immense pressure to excel in their studies. Juggling multiple assignments, tight deadlines, and exam preparations can be overwhelming. This is where Assessment Help UK services come into play, offering a lifeline to students who seek professional assistance to achieve their academic goals. With the support of the best expert writers, you can now navigate your assessments with confidence and ease.
Get up to 50%…
Personality Assessment Solutions Market May Set New Growth Story | Hogan Assessm …
Advance Market Analytics added research publication document on Worldwide Personality Assessment Solutions Market breaking major business segments and highlighting wider level geographies to get deep dive analysis on market data. The study is a perfect balance bridging both qualitative and quantitative information of Worldwide Personality Assessment Solutions market. The study provides valuable market size data for historical (Volume** & Value) from 2018 to 2022 which is estimated and forecasted till…
