Online Assessment Software Global Market Report 2024

The online assessment software market size has grown rapidly in recent years. It will grow from $3.35 billion in 2023 to $3.91 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth observed in the historic period can be attributed to a combination of factors including significant global events and crises, educational reform initiatives, adherence to regulatory compliance, and shifts in pedagogical approaches.

The online assessment software market size is expected to see rapid growth in the next few years. It will grow to $7.27 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The forecasted growth can be attributed to the increasing adoption of remote and hybrid learning models, ongoing technological innovations, and a heightened focus on accessibility and inclusivity within educational systems. Key trends anticipated in the forecast period encompass the implementation of blockchain-based credentialing and digital certificates, the integration of gamification and interactive assessment methods, and a continued emphasis on enhancing accessibility and inclusivity in education.

The upward trend in the adoption of remote work practices is poised to drive the expansion of the online assessment software market. Remote work practices, characterized by work conducted outside traditional office environments, are gaining prominence due to technological advancements, cost efficiencies, access to talent, heightened productivity, and evolving work culture. Online assessment software, designed for remote work scenarios, facilitates assessment processes irrespective of participants' physical locations. For instance, according to reports from Forbes Media LLC in June 2023, 12.7% of full-time employees and 28.2% in a hybrid model are working remotely in the US. The projection indicates an estimated 32.6 million people working remotely by 2025, underlining the significant role of remote work adoption in propelling the growth of the online assessment software market.

Prominent players in the online assessment software market are prioritizing the digitalization of academic exams to align with the evolving landscape of education and recruitment practices. This entails leveraging online platforms or software applications that facilitate the creation, administration, and management of assessments via web browsers. For example, in February 2021, Mercer LLC introduced its web-based examination platform aimed at digitizing academic exams. This comprehensive solution offers a range of tools for virtual assessments, online exams, and talent evaluations, including remote proctoring, skill assessment, and customizable evaluation options. Additionally, features such as remote proctoring, automated grading, real-time monitoring, streamlined administration, and expedited turnaround times augment the platform's utility across diverse organizational contexts.

In March 2021, Civica Group completed the acquisition of Calibrand Ltd., a UK-based developer of online assessment software, for an undisclosed sum. This strategic move underscores Civica's commitment to bolstering its digital assessment capabilities, fostering skilled workplaces, and aligning with its cloud strategy. Calibrand Ltd.'s expertise in online assessment software is expected to complement Civica's existing global assessment solutions, enhancing its position in the market and enabling the delivery of comprehensive assessment solutions throughout the employment lifecycle.

Major companies operating in the online assessment software market are Mercer LLC, McGraw-Hill Education Holdings LLC., Blackboard Inc., Pearson VUE, Edmentum Inc., Desire2Learn Incorporated, PSI Services LLC, Canvas by Instructure Inc., Moodle Pty Ltd., Mettl, Top Hat Monocle Corp., Questionmark Computing Limited., Talview Inc., TestReach Limited., Schoology Inc., ProProfs Quiz Maker., ProctorU Inc., Learnosity Ltd., ExamSoft Assessment Solutions., iSpring Solutions Inc., Kryterion Inc., WizIQ Inc., Respondus Inc., Think Exam, Surpass Ltd.

North America was the largest region in the online assessment software market in 2023. The regions covered in the online assessment software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the online assessment software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Online assessment software encompasses specialized computer programs or platforms crafted to streamline the creation, administration, and evaluation of assessments, tests, quizzes, surveys, or exams via the internet. These solutions are tailored to simplify the assessment process, enabling educators, trainers, employers, or organizations to efficiently conduct assessments remotely.

Online assessment software comprises several main types, including remote or online assessment software, question paper management software, on-screen marking software, and others. Remote or online assessment software denotes digital platforms or tools specifically crafted to streamline evaluation, testing, and assessments. This category encompasses various components such as solutions and services and finds application across diverse sectors including large enterprises, small and medium enterprises (SMEs), and end-users such as education, corporate, government, and healthcare.

The online assessment software market research report is one of a series of new reports that provides online assessment software market statistics, including online assessment software industry global market size, regional shares, competitors with a online assessment software market share, detailed online assessment software market segments, market trends and opportunities, and any further data you may need to thrive in the online assessment software industry. This online assessment software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The online assessment software market consists of revenues earned by entities by services such as platform provisioning, consultation and training, security services, customization services, scalability services, integration services, and accessibility services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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