Europe Corporate Assessment Service Market, Size, Segment and Growth by Forecast Period: (2019-2027)

Europe Corporate Assessment Service Market

The corporate assessment services market in Europe is projected to grow from US$ 713.2 million in 2018 to US$ 1,167.8 million by 2027, at a compound annual growth rate (CAGR) of 5.8% from 2019 to 2027.

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Companies operating in this market offer a range of services across the recruitment lifecycle, including pre-hire assessments, post-hire evaluations, and talent development and training. These service providers are increasingly leveraging advanced technologies such as artificial intelligence (AI) and predictive analytics to extract actionable insights from objective data. Compared to traditional hiring methods, corporate assessment services offer numerous advantages, including improved flexibility, scalability, and enhanced talent development and retention.

During the forecast period, the entrance assessment segment is expected to be the largest contributor by application. Meanwhile, the recruitment and promotion assessment services segment is projected to register the highest growth rate, emerging as the fastest-growing application category.

The rising emphasis on hiring candidates who are the best fit for specific roles, along with the need for efficiently managing large applicant pools, is driving demand for entrance assessment services. On the other hand, promotion assessment services enable employers to evaluate the skills and competencies of employees for specific roles, offering a fast, reliable, and transparent method for promotion decisions.

Germany led the European corporate assessment services market in 2018. The country has shown strong commitment to adopting and investing in advanced technologies. German companies are increasingly using technologically sophisticated assessment tools to improve hiring accuracy and business productivity. France followed Germany in market share, driven by a growing number of high-education job opportunities for engineers, managers, and healthcare professionals. In 2019, household spending played a key role in economic growth, supported by a decline in unemployment. Although France is experiencing a period of de-industrialization leading to the outsourcing of several functions, its manufacturing sector remains highly diversified.

The chart below illustrates the revenue share of the Rest of Europe in the corporate assessment services market over the forecast period:

Europe Corporate Assessment Service Strategic Insights

Strategic insights for the Europe Corporate Assessment Service provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Market leaders and key company profiles

  AON PLC

  Arctic Shores Limited

  Birkman International, Inc.

  Development Dimensions International, Inc.

  Harrison Assessments

  HireVue

  Korn Ferry

  IBM Corporation

  Mettl Online Assessment

  SHL

Europe Corporate Assessment Service Regional Insights

The geographic scope of the Europe Corporate Assessment Service refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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Author's Bio
Akshay
Senior Market Research Expert at Business Market Insights