Employment Screening Services Market Key Players, Supply, Consumption, Demand, Growth, Application, Analysis and Forecast to 2027 | Coronavirus Effects
Market Highlights
Employment
screening services identify and verify the past records of an employee to check
the accuracy of an applicant's claims. Employment screening helps companies
screen candidates for drugs and assess their behavior. It is extensively used
in the hiring process. Market Research Future (MRFR) has recently released an
in-depth study on the global employment screening services market and has
outlined the various factors which can impact the market over the forecast
period of 2017-2023. MRFR has projected the employment screening services
market to reach a valuation of USD 4 Bn at a CAGR of 8% over the review period.
Various
countries have their own set of rules pertaining to employee verification or
background verification. This a
significant factor which is spurring the growth of the employment screening
services market. Growing incidences of illegal activities and money laundering
in organizations has further prompted the use of employment screening services.
Rise in number of immigrants who are increasingly migrating to different
destinations for better job opportunities has added to the growth of the
market. Immigrants pose the maximum amount of threat to any organizations and
even to countries which necessitate employment screening. Moreover, concerns related to confidential
data theft has also impacted the market growth considerably. Besides, growing
number of start-ups providing employment screening services are likely to
catapult the growth of the market over the forecast period.
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Segmentation
On
the basis of service type, the employment screening services market has been
segmented into criminal background check services, credit history checks,
education, and employment verification services, drug & health screening,
and others.
By
end-user, the employment screening services market is segmented into banking
and financial services institute, government, information technology,
industrial, and others.
Regional Analysis
By
region, the employment screening services market has been segmented into North
America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The
employment screening services market is majorly dominated by North America and
is anticipated to expand at the highest rate over the forecast period. The
region, especially the US, experiences a high inflow of immigrants who either
come for jobs or higher studies. Moreover, the region boasts of one of the
largest IT sectors of the world which results in increased demand for screening
services. Strict rules and regulations in developed countries such as the US
and Canada also act in favor of the market. In the US, the FCRA (Fair Credit Reporting
Act) regulates the use of consumer reports holding the records of citizens. In
addition, the presence of various key players in the region and highly
supportive government policies are factors motivating the growth of the market.
Europe
accounts for the second largest share of the market. The presence of banking
and financial companies in the region, and growing IT industry in the region
are propelling the growth of the market.
The
APAC employment screening services market is set to showcase the highest growth
rate over the forecast period. initiatives undertaken by the governments in the
region to improve workplace safety and security has induced high demand within
the market. Moreover, intensifying digitization in the region is prompting
enterprises to transform the work process which too is a key factor in shaping
the growth of the APAC market.
Competitive Landscape
The
notable players in the employment screening services market include HireRight,
Inc (U.S.), Automatic Data Processing, Inc (U.S.), Insperity, Inc (U.S.), First
Advantage Corporation (U.S.), Capita plc (U.K), Reed (U.K), CareerBuilder
(U.S.), Paycor, Inc (U.S.), Paychex, Inc (U.S.), Employment Screening Services,
Inc (U.S.), and Experian plc (Ireland).
Other
prominent market players include Insperity, Inc (U.S.), Pinkerton Corporate
Risk Management (U.S.), DataFlow Group (UAE), Lowers Risk Group (U.S.),
Sterling Talent Solutions (U.S.), GoodHire (U.S.), Verity Screening Solutions
LLC (U.S.), A-Check America, Inc. (U.S.), AuthBridge (India), and Accurate
Background, LLC (U.S.).
Industry Updates
May 2019 - Sterling, a leading service provider
of background and identity services, announced the relaunch of Sterling
Student, it's screening solution which allows universities run background
checks on students seeking employment, admission, or internships related to
safety-sensitive positions and fields.
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List of Tables
Table1
World Population By Major Regions (2017 To 2030)
Table2
Global Employment Screening Services Market: By Region, 2017-2023
Table3
North America Employment Screening Services Market: By Country, 2017-2023
Table4
Europe Employment Screening Services Market: By Country, 2017-2023
Table5
Asia Pacific Employment Screening Services Market: By Country, 2017-2023
Table6
The Middle East & Africa Employment Screening Services Market: By Country,
2017-2023
Table7
Latin America Employment Screening Services Market: By Country, 2017-2023
Table8
Global Employment Screening Services By Service Type Market: By Regions,
2017-2023
Table9
North America Employment Screening Services By Service Type Market: By Country,
2017-2023
Table10
Europe Employment Screening Services By Service Type Market: By Country,
2017-2023
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