South America Personality Assessment Solutions Market

Market Introduction

The personality assessment solutions market in South America is segmented into Brazil, Argentina, and the Rest of South America. The number of people using internet is notably increasing in South America. As of 2021, Chile had 14,864,456 internet users, which is ~79.4% of its population. In other countries such as Panama, Colombia, and Uruguay, the count of internet users was 2,371,852 (56.8% of total population), 30,548,252 (61.5% of total population) and 2,360,269 (68.4% of total population), respectively. Growing population of internet users increases the usage of online assessment tools, which are used for analyzing behavior of a particular individual. In 2020, the industrial sector contributed about 19.68% to the GDP of Costa Rica and 68.85% came from the services sector. In 2020, the services sector accounted for ~71.01% of the GDP of Panama, while ~23.6% contribution was from the industrial sector. In the financial year 2020, the industrial sector contributed for ~23.78% of GDP of Colombia, while the services sector accounted for ~59.68%. Considering these figures, trends suggest that such high growth in industrial and manufacturing sectors is expected to create numerous job opportunities in the region. The Hire Talent, McQuaig, and Hogan Assessments are among the famous personality assessment tools used in Brazil. Owing to the availability to huge amounts of unique and economic agricultural products, many international food & beverage brands have their production units situated in Brazil. Also, the food & beverages industry is capitalizing on upgrading its facilities for enhancing production scale and quality. Chemical and pharmaceutical industries are the significant industries, which are experiencing a constant growth since years across South America. South America is characterized by a mixed growth scenario, with several countries having complex political and macroeconomic environments. Despite several challenges, the positive initiatives taken by governments are helping economies to grow at a reasonable pace and invest in renewable sectors. Several nations in the region lack the resources and infrastructure required for expanding electric power plants throughout the region. The increase in investment in the energy & power sector across the region drives employment opportunities in South America. Owing to all the mentioned factors, the need for employee assessment is likely to increase in this region to a considerable extent in coming years.

Brazil has the most significant number of cases with COVID-19, followed by Ecuador, Chile, Peru, and Argentina, amongst others. In 2020, the covid-19 pandemic led to the closure of all economic activities across the region to combat the spread of the virus. The government of SAM has taken an array of actions to protect their citizens and contain COVID-19’s spread. At the beginning of 2020, the COVID-19 outbreak has majorly caused the recruitment process in several organizations. Further, in 2021, with the uplifting of lockdown and ongoing vaccination process, the offices are operating fluently, and colleges are also working with remote studying facilities. In 2021, ongoing campus hiring processes and selecting through online assessments, video interviewing, and post-hiring engagement are successfully being done online with implementing new personality assessment solutions. Further, sector-wise, IT & ITES companies, automobile, FMCG, eCommerce, life sciences, and manufacturing have adopted these new-age technologies for their recruitment needs. And taking online personality assessment test of interviewers help recruiters in saving their time and helps in selecting the right candidate. The COVID-19 pandemic has been mainly brought to the digital platform, and thus, the personality assessment solutions have a significant impact on market growth.

South America Personality Assessment Solutions Strategic Insights

Strategic insights for the South America 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.

South America Personality Assessment Solutions Report Scope

South America Personality Assessment Solutions Regional Insights

The geographic scope of the South America 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 South America is expected to grow from US$ 119.57 million in 2021 to US$ 214.00 million by 2028; it is estimated to grow at a CAGR of 8.7% from 2021 to 2028. With several career paths available, students start preparing to figure out which career option would be their best fit and accordingly choose the higher education program. They are often confused about which bachelors’ program to pursue after high school. Most individuals are forced to make career decisions at a young age. These decisions put students on an irreversible path toward a career that they might fail in, and by the time they realize that job is not a good fit for them, it is already too late. Thus, students' personality assessments are an in-depth assessment of the test taker’s strengths, weaknesses, beliefs, and other personality traits that reveal crucial information about the individual’s psychological makeup. These questions help provide an understanding of the user’s psyche and categorize their characteristics. Therefore, there will always be a need for personality assessment solutions in the educational sector.

Key Market Segments

In terms of delivery type, the outsourced segment accounted for the largest share of the South America personality assessment solutions market in 2020. In terms of end-user, the corporate/enterprise segment accounted for the largest share of the South America personality assessment solutions market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the personality assessment solutions market in South America 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.

Reasons to buy report

• To understand the South America personality assessment solutions market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for South America personality assessment solutions market
• Efficiently plan M&A and partnership deals in South America personality assessment solutions market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form South America personality assessment solutions market
• Obtain market revenue forecast for market by various segments from 2021-2028 in South America region.

South America Personality Assessment Solutions Market Segmentation

South America Personality Assessment Solutions Market – By Delivery Model

• In-House
• Outsourced

South America Personality Assessment Solutions Market – By

End-User

• Corporate/Enterprise

• BFSI
• Hospitality
• IT & Telecom
• Media & Entertainment
• Healthcare & Pharmaceutical
• Others

• Academic/Education
• Government

South America Personality Assessment Solutions Market – By Country

• Brazil
• Argentina
• Rest of South America

South America Personality Assessment Solutions Market – Companies Mentioned

• Criteria Corp                                                                                              
• Hogan Assessments                                                                                  
• Development Dimensions International, Inc.                                      
• Persona Labs                                                                                              
• SHL                                                                                                                             
• TTI Success Insights                
• Aon plc.          
• Mercer LLC