Market Overview:
The global talent assessment market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for pre-hire and post-hire assessment services across different industries. The entrance assessment services segment is expected to account for the largest share of the global talent assessment market in 2018, followed by recruitment & promotion assessment services and certification assessment services segments. North America is expected to account for the largest share of the global talent assessment market in 2018, followed by Europe, Asia Pacific, Latin America and Middle East & Africa.
Product Definition:
Talent assessment is the process of assessing an individual's natural talents and abilities in order to identify their areas of strengths and weaknesses. The purpose of talent assessment is to help individuals, groups, or organizations identify and develop their most talented members in order to improve overall performance. Talent assessment can be used for a variety of purposes, including employee selection, career planning, team building, and organizational development.
Pre-hire Assessment:
Pre-hire assessment is a process that is used to identify the potential of an individual in a job interview before he or she applies for a position. It helps employers determine if the person applying for the position has the required skills and knowledge needed to do the job. The assessment can be done by using tests, projects or any other method based on information provided by candidate.
The process involves analyzing various aspects of an individual’s resume such as education, work experience.
Post-hire Assessment:
Post-hire assessment is a process that is used to determine an individual's or group's performance after they have been employed. It can be used in talent management, personnel selection and development, succession planning, training evaluation and many more areas. Talent assessment market has witnessed significant growth over the past few years owing to the growing demand for employee screening solutions with advanced technologies such as AI (Artificial Intelligence) and Machine Learning (ML).
Application Insights:
The employment assessment segment dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growing need for skilled manpower across various industries is anticipated to drive this growth. The rise in cross-border M&A activities, expansion of portfolio companies, and rapid growth of startups are some of the factors that will fuel industry expansion over the next few years.
The entrance assessment services segment held a significant share in 2017 due to high demand for resume screening and interview preparation services across all industries globally. Companies are focusing on building their brand image by offering excellent customer service which includes pre-hire as well as post-hire assessments.
Regional Analysis:
The North American region dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The increasing number of multinational companies in Canada and the U.S., coupled with a growing preference for hiring candidates from outside North America, is expected to drive growth in this region.
Asia Pacific is anticipated to be one of the fastest-growing regions over the forecast period owing to an increase in demand from countries such as China, India, South Korea, Singapore and Japan among others. An increase in outsourcing activities due to cost-effectiveness benefits has encouraged several organizations across various industry verticals including IT & telecom; banking & financial services; healthcare & life sciences; manufacturing etc.;to outsource their staffing needs thereby driving regional growth.
Growth Factors:
- Increasing demand for skilled workforce: The need for a skilled and qualified workforce is increasing day by day. This has led to the growth of the talent assessment market as organizations are looking for better ways to identify and assess the skills of their employees.
- Rapid technological advancements: The advancement of technology has led to changes in the way businesses operate. This has resulted in an increased demand for talented employees who can keep up with the latest trends and technologies. Talent assessment tools help organizations identify such employees quickly and efficiently.
- globalization of businesses: With businesses becoming increasingly global, there is a greater need for standardized talent assessment methods that can be used across different geographies. Talent assessment tools help organizations compare candidates against each other easily and make informed decisions about hiring them based on their qualifications alone rather than cultural biases or preconceived notions about certain nationalities or regions etcetera . 4) Emergence of big data & analytics: The use of big data & analytics is growing rapidly across industries, including HR & talent management domains . This has led to an increase in demand for talent assessment solutions that can effectively leverage these technologies to provide valuable insights about candidates’ skills, competencies, etcetera . 5) Growing focus on employee retention: Organizations are realizing that it is more cost-effective to retain existing employees than hire new ones from outside . As a result, they are focusing more on identifying employee development needs early on and implementing measures to address them proactively
Scope Of The Report
Report Attributes
Report Details
Report Title
Talent Assessment Market Research Report
By Type
Pre-hire Assessment, Post-hire Assessment
By Application
Entrance Assessment Services, Recruitment & Promotion Assessment Services, Certification Assessment Services
By Companies
Mercer, PSI, AON, IBM, CEB, DDI, TeamLease, Aspiring Minds, Korn Ferry, Chandler Macleod, Hogan Assessments, TTI Success Insights, Performanse, Psytech, NSEIT, Mettl, MeritTrac, Talent Plus, AssessFirst, PerformanSe
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Talent Assessment Market Report Segments:
The global Talent Assessment market is segmented on the basis of:
Types
Pre-hire Assessment, Post-hire Assessment
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Entrance Assessment Services, Recruitment & Promotion Assessment Services, Certification Assessment Services
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Mercer
- PSI
- AON
- IBM
- CEB
- DDI
- TeamLease
- Aspiring Minds
- Korn Ferry
- Chandler Macleod
- Hogan Assessments
- TTI Success Insights
- Performanse
- Psytech
- NSEIT
- Mettl
- MeritTrac
- Talent Plus
- AssessFirst
- PerformanSe
Highlights of The Talent Assessment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Pre-hire Assessment
- Post-hire Assessment
- By Application:
- Entrance Assessment Services
- Recruitment & Promotion Assessment Services
- Certification Assessment Services
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Talent Assessment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Talent assessment is the process of assessing a person's natural abilities and potential in order to identify their strengths and areas for improvement.
Some of the major players in the talent assessment market are Mercer, PSI, AON, IBM, CEB, DDI, TeamLease, Aspiring Minds, Korn Ferry, Chandler Macleod, Hogan Assessments, TTI Success Insights, Performanse, Psytech, NSEIT, Mettl, MeritTrac, Talent Plus, AssessFirst, PerformanSe.
The talent assessment market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Talent Assessment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Talent Assessment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Talent Assessment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Talent Assessment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Talent Assessment Market Size & Forecast, 2018-2028
4.5.1 Talent Assessment Market Size and Y-o-Y Growth
4.5.2 Talent Assessment Market Absolute $ Opportunity
Chapter 5 Global Talent Assessment Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Talent Assessment Market Size Forecast by Type
5.2.1 Pre-hire Assessment
5.2.2 Post-hire Assessment
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Talent Assessment Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Talent Assessment Market Size Forecast by Applications
6.2.1 Entrance Assessment Services
6.2.2 Recruitment & Promotion Assessment Services
6.2.3 Certification Assessment Services
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Talent Assessment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Talent Assessment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Talent Assessment Analysis and Forecast
9.1 Introduction
9.2 North America Talent Assessment Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Talent Assessment Market Size Forecast by Type
9.6.1 Pre-hire Assessment
9.6.2 Post-hire Assessment
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Talent Assessment Market Size Forecast by Applications
9.10.1 Entrance Assessment Services
9.10.2 Recruitment & Promotion Assessment Services
9.10.3 Certification Assessment Services
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Talent Assessment Analysis and Forecast
10.1 Introduction
10.2 Europe Talent Assessment Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Talent Assessment Market Size Forecast by Type
10.6.1 Pre-hire Assessment
10.6.2 Post-hire Assessment
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Talent Assessment Market Size Forecast by Applications
10.10.1 Entrance Assessment Services
10.10.2 Recruitment & Promotion Assessment Services
10.10.3 Certification Assessment Services
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Talent Assessment Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Talent Assessment Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Talent Assessment Market Size Forecast by Type
11.6.1 Pre-hire Assessment
11.6.2 Post-hire Assessment
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Talent Assessment Market Size Forecast by Applications
11.10.1 Entrance Assessment Services
11.10.2 Recruitment & Promotion Assessment Services
11.10.3 Certification Assessment Services
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Talent Assessment Analysis and Forecast
12.1 Introduction
12.2 Latin America Talent Assessment Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Talent Assessment Market Size Forecast by Type
12.6.1 Pre-hire Assessment
12.6.2 Post-hire Assessment
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Talent Assessment Market Size Forecast by Applications
12.10.1 Entrance Assessment Services
12.10.2 Recruitment & Promotion Assessment Services
12.10.3 Certification Assessment Services
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Talent Assessment Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Talent Assessment Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Talent Assessment Market Size Forecast by Type
13.6.1 Pre-hire Assessment
13.6.2 Post-hire Assessment
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Talent Assessment Market Size Forecast by Applications
13.10.1 Entrance Assessment Services
13.10.2 Recruitment & Promotion Assessment Services
13.10.3 Certification Assessment Services
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Talent Assessment Market: Competitive Dashboard
14.2 Global Talent Assessment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Mercer
14.3.2 PSI
14.3.3 AON
14.3.4 IBM
14.3.5 CEB
14.3.6 DDI
14.3.7 TeamLease
14.3.8 Aspiring Minds
14.3.9 Korn Ferry
14.3.10 Chandler Macleod
14.3.11 Hogan Assessments
14.3.12 TTI Success Insights
14.3.13 Performanse
14.3.14 Psytech
14.3.15 NSEIT
14.3.16 Mettl
14.3.17 MeritTrac
14.3.18 Talent Plus
14.3.19 AssessFirst
14.3.20 PerformanSe
