Report : South America Personality Assessment Solutions Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Delivery Model (In-house and Outsourced) and End-User (Corporate/Enterprise, Academic/Education, and Government)
IT & Telecom is expected to be the fastest growing segment during the forecast period 2021–2028
According to a new market research study on “South America 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$ 214.00 million by 2028 from US$ 119.57 million in 2021. The market is estimated to grow at a CAGR of 8.7% from 2021 to 2028. The report provides trends prevailing in the South America personality assessment solutions market along with the drivers and restraints pertaining to the market growth. Increasing adoption of personality assessment solutions for recruitment process, elevating adoption of cloud-based personality assessment solutions, and necessity of personality assessment solutions in educational sector for career guidance support are the major factor driving the growth of the South America personality assessment solutions market. However, hindrances related with personality assessment solutions hinder the growth of South America personality assessment solutions market.
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.
The South America 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 Brazil, Argentina and Rest of South America. In 2020, Brazil held the largest share in the market and it is also 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.; and Mercer LLC are among the leading companies in the South America 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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