Europe Corporate Assessment Service Market to 2027 - Regional Analysis and Forecasts by Product (Cognitive, Personality, Knowledge, Performance, Company Fit, and Others); Application (Campus Recruitment, Entrance Assessment Services, Recruitment & Promotion Assessment Services, and Certification Assessment Services); Hiring Phase (Pre-Hire, and Post-Hire); Hiring Level (Executive, Entry Level, Professional, and Others)
The Europe corporate assessment service market accounted for US$ 713.2 Mn in 2018 and is expected to grow at a CAGR of 5.8% over the forecast period 2019–2027, to account for US$ 1,167.8 Mn 2027. As the businesses compete for the top candidates, they spend a large sum of money and time on recruitment and advertising. The careful use of corporate assessment services can result in increased productivity, cost savings, and better retention of the top candidates. In Europe, corporate assessment services have evolved substantially in recent years as data and analytics have become more crucial in the business environment. These services are used to hire employees, assess employees for different roles, identify them with high leadership potential, compare talent within an organization against industry benchmarks, understand talent strengths and gaps, and develop their long-term value. Like North America and Europe also invests substantially in advanced technologies in the corporate industry, developments in technology mean that more tools are accessible online and with immediate reporting and feedback.
In Europe region, Germany is the leading country which dominates the corporate assessment service market. The growth in the jobs in Europe is due to the focus on online corporate assessment services and various technological innovations for the hiring process. The growing preference among the corporates and governments to choose online exams is expected to drive the corporate assessment services market in Europe during the forecast period. Many European companies indicate that implementing corporate assessment services lead to increased job satisfaction among employees, higher staff retention, and higher quality recruitment. Hence, the above factors are expected to drive the corporate assessment services market in Europe during the forecast period.
The corporate assessment service market on the basis of hiring level is segmented into executive, entry level, professional, and others. During the forecast period of 2019 to 2027, the pre-hire hiring phase is anticipated to be the largest contributor in the corporate assessment service market and is projected to be the fastest growing segment with the highest CAGR over the forecast period.
The overall corporate assessment service market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the corporate assessment service market. It also provides an overview and forecast for the corporate assessment service market based on all the segmentation provided with respect to the Europe region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the corporate assessment service market. Some of the players present in corporate assessment service market are AON PLC, Arctic Shores Limited, Birkman International, Inc., Development Dimensions International, Inc., Harrison Assessments, HireVue, Korn Ferry, IBM Corporation, Mettl Online Assessment, and SHL among others.
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