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Global Employment Screening Services Market Research Report: Forecast to 2025
Global Employment Screening Services Market is estimated to expand at a steady growth rate of CAGR of 7.8% during the forecast period. Employment screening is a system used to identify and verify the records of an individual, often before their employment. It consists of different types of verifications such as contractor screening, drug, and alcohol screening, sex offender checks, motor vehicle checks, employment eligibility verifications, fingerprint screening, global screening, medical compliance, resident monitoring, and rental payment history. It provides accurate and authentic information of the employees to avoid risks occurring in the selection process.
In 2018, the global employment screening services market was valued at USD 2,972.0 Million and is to reach USD 4,914.6 Million during the forecast period 2019–2025. The growth of the global market is propelled by growing urbanization, well-established infrastructures, wide-scale adoption of these solutions and services, and the presence of multinational companies worldwide. However, the rising prevalence regarding illegal activities and concerns regarding data theft and data loss are also fueling the market. The main restraining factor can be discrepancies in the work process during the review period.
Market Segmentation
The global employment screening services market has been segregated based on service type and end-user and region.
In terms of service type, the market has been bifurcated into criminal background check services, education and employment verification services, credit history checks, and drug & health screening. As per the study, the criminal background check service is estimated to lead the market by the end of the review period
Based on the end-user category the global market has been segmented into BFSI, Government, Information Technology, Industrial, and Others. The BFSI sector has led the global market in 2018 and is accounted to exhibit USD 1,517.6 million during the assessment period.
Regional Analysis
The region-specific analysis of the employment screening services market has been segmented into five different regions North America, Europe, Asia-Pacific, and the rest of the world.
In 2017, North America was the largest market employment screening services market followed by Europe. The regional market attributes are the presence of major sector companies, well-established infrastructures, and favorable adoption of these services. The second-largest market contribution is gripped by Europe owing to the presence of a large number of employers and employees. Asia-Pacific is evaluated to be the fastest-growing market from 2019 to 2025 due to the presence of densely populated emerging countries like China and India.
Major Players
The major companies studied to analyze the Global Employment Screening Services Market are Employment Screening Services, First Advantage Corporation (US), HireRight, Inc. (US), Paycor, Inc. (US), Capita PLC (UK), Experian Plc. (UK), Insperity, Inc. (US), InfoMart, Inc. (US), Paychex, Inc. (US), GoodHire (US), Peopletrail (US), BackgroundReport.com (US), Accurate Now (US), and Sterling (US) Inc. (the US), Automatic Data Processing, Inc. (the US), Employment Background Investigations, Inc (US), CareerBuilder Employment Screening, LLC (US), Sentinel Background Checks (US).
COVID 19 Impacts
We are continuously tracking the impact of COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations and many other useful insights.
Market Overview
Global Employment Screening Services Market is estimated to expand at a steady growth rate of CAGR of 7.8% during the forecast period. Employment screening is a system used to identify and verify the records of an individual, often before their employment. It consists of different types of verifications such as contractor screening, drug, and alcohol screening, sex offender checks, motor vehicle checks, employment eligibility verifications, fingerprint screening, global screening, medical compliance, resident monitoring, and rental payment history. It provides accurate and authentic information of the employees to avoid risks occurring in the selection process.
In 2018, the global employment screening services market was valued at USD 2,972.0 Million and is to reach USD 4,914.6 Million during the forecast period 2019–2025. The growth of the global market is propelled by growing urbanization, well-established infrastructures, wide-scale adoption of these solutions and services, and the presence of multinational companies worldwide. However, the rising prevalence regarding illegal activities and concerns regarding data theft and data loss are also fueling the market. The main restraining factor can be discrepancies in the work process during the review period.
Market Segmentation
The global employment screening services market has been segregated based on service type and end-user and region.
In terms of service type, the market has been bifurcated into criminal background check services, education and employment verification services, credit history checks, and drug & health screening. As per the study, the criminal background check service is estimated to lead the market by the end of the review period
Based on the end-user category the global market has been segmented into BFSI, Government, Information Technology, Industrial, and Others. The BFSI sector has led the global market in 2018 and is accounted to exhibit USD 1,517.6 million during the assessment period.
Regional Analysis
The region-specific analysis of the employment screening services market has been segmented into five different regions North America, Europe, Asia-Pacific, and the rest of the world.
In 2017, North America was the largest market employment screening services market followed by Europe. The regional market attributes are the presence of major sector companies, well-established infrastructures, and favorable adoption of these services. The second-largest market contribution is gripped by Europe owing to the presence of a large number of employers and employees. Asia-Pacific is evaluated to be the fastest-growing market from 2019 to 2025 due to the presence of densely populated emerging countries like China and India.
Major Players
The major companies studied to analyze the Global Employment Screening Services Market are Employment Screening Services, First Advantage Corporation (US), HireRight, Inc. (US), Paycor, Inc. (US), Capita PLC (UK), Experian Plc. (UK), Insperity, Inc. (US), InfoMart, Inc. (US), Paychex, Inc. (US), GoodHire (US), Peopletrail (US), BackgroundReport.com (US), Accurate Now (US), and Sterling (US) Inc. (the US), Automatic Data Processing, Inc. (the US), Employment Background Investigations, Inc (US), CareerBuilder Employment Screening, LLC (US), Sentinel Background Checks (US).
COVID 19 Impacts
We are continuously tracking the impact of COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations and many other useful insights.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
