What is Smart Personality Assessment Systems?
Smart personality assessment systems are used to take personality tests and measure human characteristic patterns of traits in different situations. The personality test is widely used during the hiring process to learn about the strength and weaknesses, traits, and behavior of a candidate. Personality assessment is also performed for various purposes such as psychotherapy settings to quickly gather information about the patient, in forensic settings, child custody disputes, school psychology, and counseling. The system helps users to assess people easily and accurately with the different types of assessment tools.
The market study is broken down by Type (Self-Report Inventories and Projective Tests), by Application (Assessing Theories, Evaluating the Effectiveness of Therapy, Diagnosing Psychological Problems, Screening Job Candidates and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Assessment Systems International (Czech Republic), Mettl (Mercer LLC) (United States) and SHL (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Smart Personality Assessment Systems market by Type, Application and Region.
On the basis of geography, the market of Smart Personality Assessment Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Vertical, the sub-segment i.e. BFSI will boost the Smart Personality Assessment Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. Small & Medium Businesses will boost the Smart Personality Assessment Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2019, SHL completed the acquisition of Aspiring Minds to expand its portfolio and offer a comprehensive portfolio of innovative assessment and AI capabilities. Aspiring Minds is a global leader in assessments and credentialing and offers an AI-powered suite of assessment and interviewing tools to companies and institutions worldwide. With the extended portfolio of Aspiring minds, SHL can help customers with an AI-powered platform of meaningful and unbiased talent data.
Market Trend
- Increased Focus on Research & Development of Cutting-Edge Personality Assessment Tools
Market Drivers
- Growing Preference towards the Personality or Behavioral Assessment of Candidates during Hiring Process and Forensic Settings
Opportunities
- The Use of New Technologies by the psychologists to Diagnose Problems and Measure Effectiveness of Therapy
Restraints
- Inadequate Funding and High Cost of Smart Personality Assessment Systems
Challenges
- Less Accuracy and Reliability of Some Assessment Systems
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Smart Personality Assessment Systems Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.