Asia Pacific Personality Assessment Solutions Market
No. of Pages: 113 | Report Code: TIPRE00026151 | Category: Technology, Media and Telecommunications
No. of Pages: 113 | Report Code: TIPRE00026151 | Category: Technology, Media and Telecommunications
The increasing number of internet users is one of the factors for the growth of the personality assessment solutions market. As according to Statista data of 2021, China had a total of 854 million internet users in the second quarter of 2021, followed by India with 560 million internet users, and Japan with 118.63 million internet uses. Further, in 2020, South Korea had around 47 million internet users. This figure is projected to grow to ~48.13 million internet users by 2026. Similarly, in Australia there were 22.31 million internet users in January 2021. The number of internet users in Australia increased by 265 thousand (+1.2%) between 2019 and 2021. With the growing internet users across the region, the need of online recruitment process is growing, which ultimately drives the personality assessment solutions market growth. Every organization has unique recruiting needs, and as the organization grows, the needs change. Growth occurs rapidly in a few organizations, and it becomes almost impossible to meet the recruiting needs unless the process is changed. For example, Groupon, operated as gaopeng.com in China, is a daily deal website featuring regional and local deals on activities, restaurants, products, services, and more. Groupon is growing and presently operating in 48 countries. Fabian Kast, Groupon China's Head of Recruitment, met with the daunting task of setting up multiple offices across different cities with teams that were supposed to hire for various positions simultaneously. Using recruitment software from Recruiterbox made it easy for Groupon to employ an efficient workforce for different departments across different countries remotely. Thus, online recruitment helps saves traveling cost and time in recruiting in different countries at the same time. With the growing online recruitment, the demand for personality assessment solutions is also growing for selecting right candidates.
In 2020, because of many cases in China, the Asia Pacific region was greatly affected by COVID-19. The country also homes the most significant population worldwide, thereby imposing greater risk on many individuals; it is also a world leader of many world-wide brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other significant economies outside China, such as India, Australia, and Japan, and is experiencing low inflation. Further, in 2021, the offices are operating fluently with the uplifting of lockdown and ongoing vaccination process. Due to the high presence of the IT sector, the personality assessment solutions market is growing irrespective of the COVID-19 impact. Due to the pandemic, there is a rush towards new-age technology-aided recruitment/HR tools. Corporates want to have data-based and analysis-driven inputs to make recruitment decisions. They employ various modern tools to ensure candidates and personality assessment solutions are one of them. For instance, according to the Economic Times of May 2021, pre-employment technical assessments, advanced coding simulators, and online coding interviews are in huge demand for hiring software developers, data scientists, data mining professionals, and front-end and back-end developers in the Asia Pacific. Moreover, in 2021, after the colleges are being re-opened with remote studying facilities, the personality assessment solutions help students decide their career path.
Strategic insights for the Asia Pacific Personality Assessment Solutions 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.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,989.81 Million |
| Market Size by 2028 | US$ 4,823.20 Million |
| Global CAGR (2021 - 2028) | 13.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Delivery Model
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Personality Assessment Solutions 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.
The personality assessment solutions market in Asia Pacific is expected to grow from US$ 1,989.81 million in 2021 to US$ 4,823.20 million by 2028; it is estimated to grow at a CAGR of 13.5% from 2021 to 2028. According to the Statista data, as of January 2021, there were 4.66 billion internet users present globally (59% of the world population). From this total, 92.6% (4.32 billion) accessed the internet through mobile devices, till 2020, APAC was the region with the most significant number of online users with over 2.5 billion. In 2020, China dominated the market share globally, followed by India, China had more than 854 million internet users, and India had around 560 million internet users. Therefore, digitalization and the internet are in the initial phase. The continuous growth in the internet users also let the industries transform their business to the digital platform. The need for cloud technology has positively impacted companies because of the storage and data transfer facilities. Most importantly, the use of the cloud is cost-effective, thereby leading businesses to pay for the service as per their use. This factor has influenced the market growth. The cloud-based deployment of personality assessment solutions has been gaining popularity over the past few years. This is primarily due to the development of cloud infrastructure that has enabled easy availability of cloud storage and affordable pricing. Furthermore, training and development courses are made available to students to prepare them for academics, as well as professional sectors, and with cloud technology, there is no issue about the storage capacity. Additionally, it has been observed that businesses are moving toward adopting SaaS-based personality assessment solutions. The high cost of hardware, software, and data center operations are divided among customers by the vendor in the SaaS-based model, thereby allowing customers to avail top of the line infrastructure at a lower cost. Therefore, cloud-based personality assessment solutions will be in huge demand because of less cost and high availability of storage capacity. Thus, with the high penetration.
In terms of delivery type, the outsourced segment accounted for the largest share of the Asia Pacific personality assessment solutions market in 2020. In terms of end-user, the corporate/enterprise segment accounted for the largest share of the Asia Pacific personality assessment solutions market in 2020.
A few major primary and secondary sources referred to for preparing this report on the personality assessment solutions market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Criteria Corp; Hogan Assessments; Development Dimensions International, Inc.; Persona Labs; SHL; TTI Success Insights; Aon plc.; and Mercer LLC among others.
The Asia Pacific Personality Assessment Solutions Market is valued at US$ 1,989.81 Million in 2021, it is projected to reach US$ 4,823.20 Million by 2028.
As per our report Asia Pacific Personality Assessment Solutions Market, the market size is valued at US$ 1,989.81 Million in 2021, projecting it to reach US$ 4,823.20 Million by 2028. This translates to a CAGR of approximately 13.5% during the forecast period.
The Asia Pacific Personality Assessment Solutions Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Personality Assessment Solutions Market report:
The Asia Pacific Personality Assessment Solutions Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Personality Assessment Solutions Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Personality Assessment Solutions Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
UK+442030260021, US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Asia Pacific Personality Assessment Solutions Market
