Employment Screening Services Market Research Report- Forecast till 2025
The global employment screening services market is garnering exponential traction. The market growth attributes to the wide-scale adoption of these solutions and services. Besides, the large numbers of competitors offering employment screening solutions in the market drive market growth, increasing market competition worldwide. Moreover, the availability of best-in-class and innovative screening solutions escalate market growth.
According to Market Research Future (MRFR), the global employment screening services market valuation is poised to reach USD 4,914.6 MN by 2025, growing at 7.8% CAGR during the review period (2019–2025). Increasing numbers of start-ups and small and medium enterprises boost the growth of the market, creating substantial market demand. Also, the benefits that employment screening services offer, such as reduced risks associated with the selection of fraudulent employees, push the growth of the market.
Additionally, increasing uptake of employment screening services and technological advances accelerate market growth. Also, the proliferation of HR management services and cloud solutions drive market growth, bringing various customization options. Moreover, the emergence of rapidly evolving IoT in wired & wireless technology positively impacts the market growth.
Growing numbers of enterprises, alongside the efficacy of these systems that demonstrate high reliability, increases the uptake of employment screening services. On the other hand, discrepancies in the work process are a significant factor forecasted to impede the market growth. Also, high initial investments required to implement employment screening services act as major hurdles to market growth. Nevertheless, the growing fraudulent employment cases would support market growth throughout the assessment period.
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The report is segmented into three dynamics;
By Services : Criminal Background Check Services, Education & Employment Verification Services, Credit History Checks, Drug & Health Screening, and others.
By End User : BFSI, Government, Information Technology, Industrial, and others.
By Regions : North America, Europe, APAC, and Rest-of-the-World.
Employment Screening Services Market – Geographical Analysis
North America dominates the global for the employment screening services market. The largest market share attributes to the rising demand for employment screening services and increasing numbers of enterprises and corporate sectors. The early adoption of advanced technologies and cloud-based services substantiate the growth of the regional market.
Besides, leading innovations and technological advances in HRM solutions drive regional market growth. Moreover, high investments in research and developments and high economic growth are the major factors foster regional market growth. The North American employment screening services market is poised to retain its dominance throughout the forecast period.
The employment screening services market in the Asia Pacific region is emerging as the fastest-growing space globally. Factors such as the growing government initiatives supporting digitalization and the increasing adoption of cloud-based services in the region boost market growth. Emerging economies like India, China, and South Korea lead the regional market. The APAC employment screening services market is expected to grow significantly during the forecast period.
Global Employment Screening Services Market — Competitive Landscape
Highly competitive, the employment screening services market appears fragmented due to the presence of several notable players. Industry players initiate strategic approaches such as mergers & acquisitions, collaboration, expansion, and technology launch to gain a larger competitive share. Screening service providers strive to offer user-friendly and highly efficient employment screening systems and support services to the end-users.
These players also make substantial R & D investments in developing innovative screening solutions that are entirely different on a level than their competition. A considerable amount of investments go into expansion plans to increase global reach and to gain diverse expertise.
Players leading the employment screening services market are Automatic Data Processing, Inc. (US), Employment Screening Services, Inc. (US), Employment Background Investigations, Inc (US), Sentinel Background Checks (US), CareerBuilder Employment Screening, LLC (US), First Advantage Corporation (US), Paycor, Inc. (US), HireRight, Inc. (US), Capita PLC (UK), Insperity, Inc. (US), Experian Plc. (UK), InfoMart, Inc. (US), GoodHire (US), Paychex, Inc. (US), Peopletrail (US), Accurate Now (US), BackgroundReport.com (US), and Sterling (US), among others.
August 27, 2020 —- Accurate Background, a leading provider of compliant, automated workforce screening solutions, announced that the Hospital Association of Southern California (HASC) and Hospital Council – Northern & Central California (Hospital Council) have exclusively endorsed Accurate’s employee background and screening services. The endorsement provides member hospitals with a comprehensive portfolio of employment screening, verifications, and compliance tools.
March 26, 2020, Accurate Background completed the acquisition of CareerBuilder Employment Screening (CBES). The combined entity would increase the adoption of its background checks, drug & health testing, I-9 verifications, and services portfolio, delivering technology innovation, customer service, and candidate experience at scale.
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Employment Screening Services Market Research Report: By Services (Criminal Background Check Services, Education and Employment Verification Services, Credit History Checks, Drug & Health Screening), End User (BFSI, Government, Information Technology, and Industrial) and Region (North America, South America, Europe, Asia- Pacific, and Middle East and Africa) – Forecast till 2025
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