How large is the online assessment software market, and what is its growth trajectory?
The online assessment software market size has grown rapidly in recent years. It will grow from $3.91 billion in 2024 to $4.57 billion in 2025 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to global events and crises, educational reform initiatives, regulatory compliance, and pedagogical shifts.
The online assessment software market size is expected to see rapid growth in the next few years. It will grow to $8.47 billion in 2029 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to rise in remote and hybrid learning, continued technological Innovation, and focus on accessibility and inclusivity. Major trends in the forecast period include blockchain-based credentialing and digital certificates, gamification and interactive assessments, and emphasis on accessibility and inclusivity.
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What key drivers have fueled the online assessment software market’s development over the years?
The increasing adoption of remote work practices is expected to propel the growth of the online assessment software market going forward. Remote work practices refer to organizations and individuals’ strategies, methodologies, and guidelines to effectively conduct work outside of a traditional office environment. It arises because of technological advancements, cost savings, access to talent, increased productivity, and a changing work culture. Online assessment software used for remote work operates through various mechanisms to facilitate the assessment process regardless of the physical location of the participants. For instance, in June 2023, according to reports published by Forbes Media LLC, a US-based media company, around 12.7% of full-time employees are working from home in 2023, while 28.2% use a hybrid model in the US. Further, it is expected that 32.6 million people will be working remotely by 2025. Therefore, the increasing adoption of remote work practices is driving the growth of the online assessment software market.
What is the segmentation for the online assessment software market?
The online assessment software market covered in this report is segmented –
1) By Software Type: Remote Or Online Assessment Software, Question Paper Management Software, On Screen Marking Software, Other Software Types
2) By Component: Solutions, Services
3) By Application: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By End-User: Education, Corporate, Government, Healthcare
Subsegments:
1) By Remote Or Online Assessment Software: Virtual Examination Platforms, Online Proctoring Software, Remote Test Delivery Software
2) By Question Paper Management Software: Question Paper Creation Tools, Question Bank Management Systems, Question Paper Generation Software
3) By On-Screen Marking Software: Auto-grading Software, Manual Scoring Or Markup Tools, Online Answer Sheet Evaluation Platforms
4) By Other Software Types: Learning Management Systems (LMS), Content Authoring Tools, Analytics And Reporting Software
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Online Assessment Software Market Research, Forecast Report To 2034
Who are the most influential companies in the online assessment software market?
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
What are the top industry trends projected to impact the online assessment software market?
Major companies operating in the online assessment software market focus on digitalizing academic exams to adapt to the changing landscape of education and recruitment processes. This platform refers to an online system or software application that enables the creation, administration, and management of examinations or assessments entirely through a web browser. For instance, in June 2022, Testlify, a US-based talent assessment solutions company, launched its platform to optimize the hiring process. The platform provides a comprehensive library of over 1,200 customizable assessments for evaluating both technical and soft skills. It enables recruiters to create tailored assessments to better match job roles and incorporates advanced anti-cheating measures to ensure the integrity of the evaluation process.
What are the major regional insights for the online assessment software market, and which region holds the top position?
North America was the largest region in the online assessment software market in 2024. 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.
What Does The Online Assessment Software Market Report 2025 Offer?
The online assessment software market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Online assessment software refers to the specialized computer programs or platforms designed to facilitate the creation, administration, and evaluation of assessments, tests, quizzes, surveys, or exams over the internet. These software solutions offer functionalities to streamline the assessment process, making it easier for educators, trainers, employers, or organizations to conduct assessments remotely.
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Online Assessment Software Market Research, Forecast Report To 2034
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