Personality Assessment Solutions Market to Expand at CAGR of 12.8%; Advantages of Detailed Assessment of Individual Personality Traits for Work-related Outcomes Drives Demand, says TMR Study

- Increasing shift to cloud technologies for advantages of wide selection of talent, improved employee retention, and reduced turnover cost for organizations to spell growth

- Availability of complete packaged solutions for end-to-end requirement from personality assessment to succession planning and compensation management to career management of the digital workforce to create lucrative opportunities

ALBANY, N.Y., Dec. 1, 2021 /PRNewswire/ -- Personality Assessment Solutions Market – Overview

The personality assessment solutions market is projected to expand at a promising growth rate during the forecast period from 2021 to 2031. The tangible benefits of personality assessment solutions to gain insights into personality traits, behavioral tendencies, and interaction demeanor of individuals to put them on suitable training are some key factors driving the personality assessment solutions market.

The need to assess personality traits of prospective employees, particularly for entry-level sales and customer relationship roles in various end-use industries is compelling the need for personality assessment solutions. The expanding digitalization of the education sector that requires development of smart classrooms and digital meeting rooms is another key factor creating the demand in the personality assessment solutions market.

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The increasing practices of remote working is necessitating employers to adopt solutions for the science of personality of employees, and how it affects the performance of businesses. This is facilitated by the emergence of consulting companies that specialize in data-based personality insights for organizations to acquire the best talent and maximize business growth.

The personality assessment solutions market is projected to exceed the valuation of US$ 22.56 Bn by 2031.

Personality Assessment Solutions Market – Key Findings of Report

Consistent Development of Improved Solutions to Spell Growth

The need of businesses to have in-depth measurement of a candidate's vital work-relevant personality traits and behavioral tendencies is of significance today. The development of comprehensive personality mapping tools based on the Big Five Model of personality fuels the personality assessment solutions market.

Besides this, the demand for fake-resistant and scientific psychometric tools that can measure personality traits of candidates is on the rise. In order to serve this, enterprises in the personality assessment solutions market are developing platforms to predict the behavior and temperament of individuals and to obtain insights how the traits can affect the work performance. Such platforms are also designed to help employers acquire objective information about job applicants.

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The design and development of scientifically-driven personality assessment tools that can measure a gamut of as much as 20 personality traits related to job performance is the focus of enterprises in the personality assessment solutions market. This safeguards employers from legal risk that some have witnessed in the past for facing discrimination with personality assessment of individuals with mental illness.

Availability of Complete Packaged Solutions for Demanding Business Processes Creates Opportunities

The rise in the demand for digital workforce is leading to the adoption of personality assessment solutions. The availability of reliable personnel data is useful in today's fast paced business environments to handle economic volatility and make effective recruitment decisions for training and development. This is driving organizations to adopt packaged personality assessment solutions that are combined with succession planning software, compensation management, and career routing management solutions.

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Personality Assessment Solutions Market – Growth Drivers

• Increasing adoption of technology-driven solutions by business organizations to hire the best talent pool with overall improved recruitment process fuels the personality assessment solutions market
• Availability of mobile-friendly personality tests for a wider outreach stimulates growth of the personality assessment solutions market

Personality Assessment Solutions Market – Key Players

Some of the key players operating in the personality assessment solutions market are Aon plc., Development Dimensions International Inc., Hogan Assessment Systems Inc., TTI Success Insights, Crystal Project Inc., Criteria Corp., Franklin Covey Co., Mind Gym plc, SHL, The Myers & Briggs, Gallup Inc., and Tratify Inc.

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The personality assessment solutions market is segmented as follows;

Personality Assessment Solutions Market, by Component

• Solution
• Recruitment
• Training & Development
• Support Services

Personality Assessment Solutions Market, by Sourcing Type

• In-house
• Outsourced

Personality Assessment Solutions Market, by Offering

• Synchronous
• Asynchronous

Personality Assessment Solutions Market, by Channel (Provider)

• Corporate/Enterprise
• Academic/Education
• Government

Personality Assessment Solutions Market, by End-use Industry

• Banking, Financial Services & Insurance (BFSI)
• Manufacturing
• Hospitality
• IT & Telecom
• Education
• Fast-moving Consumer Goods (FMCG)
• Healthcare & Pharmaceuticals
• Others

Personality Assessment Solutions Market, by Region

• North America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
• South America

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