Rise in demand for skill assessment for better employability is one of the key factors driving market revenue growth
VANCOUVER, BC, CANADA, March 14, 2022 /EINPresswire.com/ — Global valuation services market size to reach USD 12.32 billion in 2021 and is expected to register a revenue CAGR of 7.3% during the forecast period, latest analysis According to emerging research. Rising number of competitive examinations and certifications and increasing need for skill assessment to enhance employability are some of the key factors driving the global assessment services market revenue growth.
The growing need to sign up specialist test-conducting firms among competing test-conducting bodies such as the TOEFL and PAPI 3, and the growing inclination in various sectors to opt for online computer-based tests, are among the others driving the global market’s revenue growth. are major factors. The focus on professional development through appraisal services helps employees develop their skills and improve performance. These services are used as part of training to accommodate new employees, educate current employees and provide new skills for the same job, and promote employees to positions requiring different skill sets. goes.
The report throws light on the current as well as upcoming market trends. The report provides accurate information about pricing, capacity, value, gross revenue and market leverage. The primary objective of the report is to provide the readers, stakeholders, companies with in-depth details about the market size, revenue growth and overall market dynamics in order to consolidate their share in the global valuation services market. It provides in-depth information about various market segments such as product type, application and regional segmentation along with key factors, restrictions, limitations, challenges.
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Growth in youth labor force is a major factor driving the growth of the market. Corporates and Governments lay emphasis on screening a candidate through assessment tests in line with the organizational requirements. According to data published by the US Bureau of Labor Statistics, the youth labor force expands significantly between April and July each year. A large number of high school and college students typically look for summer jobs during this period, and many graduates enter the labor market to seek or start permanent occupations. In the summer of 2020, the youth labor force grew by 19.8% – the equivalent of 3.6 million individuals – compared to 18.8 million in 2019, to a total of 21.5 million labor force in July.
In addition, the report includes an in-depth analysis of the competitive landscape. This section includes a comprehensive overview of the company profile along with product profile, production capacity, development of products/services, pricing analysis, profit margin and manufacturing process. The report also covers strategic business measures taken by companies to achieve substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements and government deals.
Key companies covered in the report: Korn Ferry, Pearson Education Inc., AON plc, TeamLease, Development Dimensions International, Inc., Mercer LLC, PSI Services LLC, Hogan Assessment, Talent Plus Inc., and IBM Corporation.
The all-inclusive report of the Global Assessment Services Market shows that the Global Assessment Services Market is projected to grow at a steady CAGR during the forecast timeline. The report analyzed the key market drivers, restrictions, growth opportunities, investment opportunities, threats and limitations of the Valuation Services market. The report also presents accurate forecast estimates at the global and regional level to provide a better understanding of the market scope.
Emergen Research has segmented the global valuation services market on the basis of product type, service type, medium, regions and region:
Product Type Outlook (Revenue, USD billion; 2019–2030)
Service Type Outlook (revenue, USD billion; 2019–2030)
Admission Evaluation Services
Recruitment and Promotion Evaluation Services
pre-employment evaluation service
development evaluation service
Moderate Outlook (revenue, billion dollars; 2019–2030)
Sector Outlook (Revenue, USD billion; 2019–2030)
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The report also presents regional level analysis and market projections for the regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America (USA, Canada)
Europe (UK, Italy, Germany, France, rest of the EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of the Ministry of External Affairs)
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The report provides a comprehensive overview of the market size, share and growth rate over the forecast period.
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The study categorizes the market on the basis of product type, applications, end users, market value and volume, business scope and 5 key sectors.
It also provides regional market analysis and forecasts for key geographic regions of the region such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The research report also analyzes industry supply chain, sourcing strategy, upstream feedstock and downstream demand.
The study provides a comprehensive understanding of demand and supply dynamics including production and consumption rates and mapping of the overall market.
The report employs various analytical tools including SWOT analysis, Porter’s five forces analysis and pricing analysis to deliver accurate market information.
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