Global candidate skills assessment market was worth US$ 2.31 Bn in 2022, according to a new report published by Absolute Markets Insights. The market is anticipated to gain CAGR of 12.1% from 2023 to 2031. In order to grow sustainably, every business organization needs manpower, and this is where candidate skills assessment tools and solutions come into the play. Candidate skills assessment basically is the process of evaluating a job candidate’s skills, knowledge, and abilities that are related to the position they are applying for. This can be done through various methods, such as tests, simulations, interviews, and work samples. The purpose of candidate skills assessment is to determine whether the candidate has the required skills and experience to perform the job effectively. It can also help identify any gaps in the candidate’s skill set, which may require further training or development. Assessments can be specific to the job requirements, such as technical skills or industry-specific knowledge, or they can be more general, such as problem-solving, communication, or teamwork skills. The results of the assessment can be used to make informed hiring decisions and to guide onboarding and training processes for new hires. Candidate skills assessment is used for several reasons, like to determine whether one is job fit or not. This can be done by evaluating a candidate’s skills, knowledge, and abilities related to the position they are applying for, assessments can help determine whether the candidate is a good fit for the job.
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The global candidate skills assessment market is taking big steps on the path of growth since last few years. The surging demand for efficient and effective hiring of candidates is rampantly driving the growth of the global candidate skills assessment market. Meanwhile, there are certain concerns related to results that are inaccurate, which is playing as a restraining factor for the growth of the global candidate skills assessment market. On the other hand, the global candidate skills assessment market is forecasted to see immense growth due to surge in the incorporation of advanced tests for better assessment.
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Global Candidate Skills Assessment Market Report Highlights
- On the basis of the offerings, the global candidate skills assessment market is segmented into solutions and services. As there is rising demand for recruitment solutions across the globe, the solutions related to candidate skills assessment are being adopted. And this is the reason why the solutions segment is earning huge amount of money for this market.
- Along with analyzing various aspects of human intelligence like softs skills. Background check is also important. And this is where companies like hackerRank and Mocha Technologies are working relentlessly to provide great solutions.
- The region of Asia Pacific is forecasted to make humungous amount of money for the global candidate skills assessment market a fastest rate during the forecast period 2023-2031. Several multinational companies are entering countries like India, where the talent is found extensively. Identifying right talent is the need of the hour in the region and hence the market is growing.
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Key Market Participants: Global Candidate Skills Assessment Market
- Alooba Pty Ltd.
- Cavintek, Inc
- Codility Ltd
- Harver B.V.
- HireVue, Inc.
- ISV. Online
- MOCHA TECHNOLOGIES
- Other Market Participants
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Global Candidate Skills Assessment Market Segmentation
Absolute Markets Insights has segmented into the global candidate skills assessment market on the basis of offerings, test type, deployment, pricing model, organization size industry and region further into countries.
Global Candidate Skills Assessment Market Offerings Outlook (Revenue, USD Million, 2015 – 2031)
Global Candidate Skills Assessment Market Test Type Outlook (Revenue, USD Million, 2015 – 2031)
- Hard skills assessments tests
- Soft skills assessment tests
- Coding assessment
- Cognitive ability tests
- Personality tests
- Psychometric tests
- Situational judgement tests
Global Candidate Skills Assessment Market Deployment Outlook (Revenue, USD Million, 2015 – 2031)
- Cloud based
Global Candidate Skills Assessment Market Pricing Model Outlook (Revenue, USD Million, 2015 – 2031)
- Pay Per Position
- Subscription Based
Global Candidate Skills Assessment Market Organization Size Outlook (Revenue, USD Million, 2015 – 2031)
- Small and Medium Sized Organizations
- Large scale Organizations
Global Candidate Skills Assessment Market Regional Outlook (Revenue, USD Million, 2015 – 2031)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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