Academic/Education is expected to be the fastest growing segment during the forecast period 2021–2028

According to a new market research study on “Europe Personality Assessment Solutions Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Delivery Model and End-User,” is expected to reach US$ 6,255.34 million by 2028 from US$ 2,825.98 million in 2021. The market is estimated to grow at a CAGR of 12.0% from 2021 to 2028. The report provides trends prevailing in the Europe personality assessment solutions market along with the drivers and restraints pertaining to the market growth. Need of personality assessment solutions in educational sector for career guidance support, fostering adoption of cloud-based personality assessment solutions and surging adoption of personality assessment solutions for recruitment process are the major factor driving the growth of the Europe personality assessment solutions market. However, concerns related with personality assessment solutions hinder the growth of Europe personality assessment solutions market.

In 2020, the impact of COVID-19 differed from country to country across the European region as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict and longer lockdown periods or social isolation. However, Western European countries such as Germany, France, Russia, the United Kingdom, and others have seen a comparatively modest decrease in their growth activities because of the robust healthcare system. To protect its citizens from the virus, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus. Further, in 2021, the offices are operating fluently with the uplifting of lockdown and ongoing vaccination process. In starting of 2020, the economic activity in many sectors having ground to a near standstill, many businesses are struggling to uphold their financial obligations. And with uncertainty looming large, many companies are considering adjustments in their workforce. This could put millions of jobs at risk through reductions in hours or pay, temporary furloughs, or permanent layoffs. For instance, according to McKinsey & Company data of April 2020, the COVID-19 crisis could leave up to 59 million jobs at risk in Europe, a staggering 26% of total employment in the 27 member countries of the European Union plus the United Kingdom. Further, in mid-2020 and 2021, the businesses have adopted the online requirement process due to remote working, resulting in the high adoption of personality assessment solutions. Therefore, COVID-19 somehow has a positive impact on market growth.

The Europe personality assessment solutions market is segmented on the basis of delivery model, end-user, and country. Based on delivery model, the personality assessment solutions market is segmented into in-house and outsourced. In 2020, outsourced segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. On the basis of end-user, the personality assessment solutions market is segmented into corporate/enterprise, academic/education, and government. In 2020, corporate/enterprise segment held the largest share in the market and academic/education is expected to be the fastest growing segment during the forecast period. Further based on corporate/enterprise, the personality assessment solutions market is segmented into BFSI, hospitality, IT & Telecom, media & entertainment, healthcare & pharmaceutical, and others. In 2020, others segment held the largest share in the market and hospitality is expected to be the fastest growing segment during the forecast period. Based on country the market is segmented into Germany, Russia, the UK, Italy, France, and Rest of Europe. In 2020, Rest of Europe held the largest share in the market and Germany is expected to be the fastest growing country during the forecast period.

Criteria Corp; Hogan Assessments; Development Dimensions International, Inc.; Persona Labs; SHL; TTI Success Insights; Aon plc.; Mercer LLC; and SIGMA Assessment Systems Inc. are among the leading companies in the Europe personality assessment solutions market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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