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Personality Assessment Solutions Market 2021 Major Manufacturers, Growth Opportunities, and Investment Feasibility 2031

The personality assessment solutions market is expected to exceed the value of US $ 22.56 billion by 2031, growing at a CAGR of 12.8% during the forecast period.

ALBANY, NY, USA, October 12, 2021 / – Personality assessment is the measure of personal characteristics. Personality tests are a valuable tool to better understand the personality traits, interaction style and behavioral tendencies of individuals and to assign appropriate training to individuals and help them attend favorable training courses.

There has been a huge need for newbie sales and customer relations personnel in various end-use industries such as banking, finance, and insurance. These sectors are getting organized and facing a significant need for front-line staff. On the other hand, there are businesses targeting rural markets such as agriculture and microfinance, which require staff for customer interaction in large numbers. Thus, pre-hire and post-hire assessment tools are both preferred based on industry requirements. This factor is likely to propel the growth of the global personality assessment solutions market during the forecast period.

Personality Assessment Solutions Market: Dynamic

The increasing digitization of the education sector is propelling the development of smart classrooms, meeting rooms, etc. In addition, the growing demand for hands-free speech reinforcement and recording is generating a demand for personality assessment solutions for training and development. In addition, the increase in disposable income allows consumers to spend more on education, training and development, which will likely lead to increased demand for personality assessment solutions during the forecast period. Additionally, training and development through the Internet of Things (IoT) and Blockchain technologies nurture authentic learning experiences by placing learners in the context of real-world experiences or challenges. The increase in internet penetration enables organizations to implement continuous and active training approaches to enable interns or employees to learn through hands-on experience, which is expected to drive demand for assessment solutions. personality.

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According to Amazon Web Service, the skilled digital workforce is expected to increase nine-fold by 2025 in India. India will need a total of 3.9 billion digital skills sessions over the next five years. The increasing demand for digital skills training in APAC countries such as India, Indonesia, Japan, South Korea, Australia, and Singapore, provides a lucrative opportunity for the business solutions market. personality assessment.

The COVID-19 pandemic has transformed the way people work, forcing human resources professionals to shift to AI-powered solutions that support a more adaptive, flexible and fluid workforce. According to PwC Survey 2021, around 24% of companies are currently using AI for recruiting and around 56% of companies are expected to consider adopting AI in the next few years. Implementing AI in assessment automates administrative tasks and reduces hassle for HR decision makers. For candidates, AI in assessment means they can respond to assessment tools in a more natural way. This factor is believed to positively drive the market and provide significant opportunities in the personality assessment solutions market.

Personality Assessment Solutions Market: Important Regions

North America is expected to hold a significant share of the global personality assessment solutions market in 2021, owing to the heavy use of personality assessment solutions for training, development and recruitment. North America is a hub for new technologies and innovation. According to TMR analysis, ~ 45% of US companies choose to incorporate personality testing into their hiring processes. The United States held the dominant position in the market and is expected to maintain its dominance during the forecast period. This is mainly due to the presence of well established and technologically advanced players in the region. The increase in the number of job seekers due to COVID-19 has increased the adoption of personality assessment solutions in the United States, where organizations are looking for solutions that will make their recruitment process more effective and efficient. .

However, the Asia-Pacific personality assessment solutions market is expected to grow at a strong pace during the forecast period. Asia Pacific is expected to experience the highest CAGR with major dominance of China, India, Japan, Australia and Singapore by the end of the forecast period. The governments of these countries are focused on adopting digital tools to reach their citizens digitally. Asia-Pacific has emerging economies that focus on improving digital businesses. Increased penetration of technology, increased pressure to improve digital skills to take advantage of new opportunities, embrace more skilled jobs, introduce innovations in local or global markets, increase the need to upgrade skills and have Need to acquire digital skills to get the new job opportunities are some of the major factors driving the demand for personality assessment solutions in the APAC region.

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Personality Assessment Solutions Market: Key Players

The major players operating in the global personality assessment solutions market are Aon plc., Criteria Corp., Development Dimensions International, Inc., Franklin Covey Co., Hogan Assessment Systems Inc., Mind Gym plc, Persona Labs, SHL, Sigma Assessment Systems Inc., The Myers & Briggs, Traitify, Inc., TTI Success Insights, Gallup, Inc. and Crystal Project, Inc.

Personality Assessment Solutions Market: Overview

The latest research report published by Transparency Market Research covers the Global Personality Assessment Solutions Market for the historical period of 2018-2019; 2020 is the actual year and the forecast period is 2021-2031. The growing adoption of personality assessment solutions for recruiting, the proliferation of SaaS solutions, the requirement for industry specific assessments / designation and the increased use of adaptive learning are just a few of the major factors driving the growth of the personality assessment solutions market during the forecast period.

In terms of revenue, the global personality assessment solutions market is expected to exceed the value of US $ 22.56 billion by 2031, with a CAGR of 12.8% during the forecast period.

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