The Asia Pacific Corporate Assessment Service market is growing along with the Technology, Media and Telecommunications industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
Corporate valuation is a tool for assessing the performance of all major corporate systems and processes. Executives around the world rely on corporate reputation to gather more complete information about the departments and processes they manage and to help organizations compete more effectively.
The corporate assessment service market in Asia Pacific is expected to grow from US$ 713.2 Mn in 2019 to US$ 1,167.8 Mn by the year 2027 with a CAGR of 5.8% from the year 2020 to 2027.
The companies operating in the corporate assessment services market are offering services for various phases of a recruitment lifecycle, which includes pre-hire, post-hire, and talent development and training. The companies offering corporate assessment solutions are leveraging advanced technologies such as AI and predictive analytics to derive actionable insights from the objective data. The corporate assessment services offer various advantages over the traditional hiring process, such as greater flexibility, scalability, and better talent development and retention.
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Germany dominated the corporate assessment service market in 2018. The country is indulge in adopting and investing in advanced technologies. The companies in Germany are focused on technologically advanced assessment tools for hiring the right candidate for their organization, which helps them to increase the productivity of the business. After Germany, France dominated the Asia Pacific corporate assessment service market. The country’s high-education jobs, for engineers, managers, and health professionals, is rising. In 2019, household spending remained the backbone for growth as the unemployment rate fell in October. The country’s manufacturing industry is extremely diversified; though France is currently undergoing a de-industrialization process, which has resulted in the outsourcing of several activities.
These factors are expected to offer broad growth opportunities in the Technology, Media and Telecommunications industry and this is expected to cause the demand for Corporate Assessment Service assays in the market.
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- AON PLC
- Arctic Shores Limited
- Birkman International, Inc.
- Development Dimensions International, Inc.
- Harrison Assessments
- Korn Ferry
- IBM Corporation
- Mettl Online Assessment
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