June 16, 2024

Employment Screening Services Market Size, Share, Trends Report 2023-28

3 min read

IMARC Group, a leading market research company, has recently releases report titled “Employment Screening Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global employment screening services market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the employment screening services market?

The global employment screening services market size reached US$ 5.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8.25% during 2023-2028.

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What are employment screening services?

Employment screening services are specialized offerings that aid companies in verifying the credentials of potential employees. These services evaluate the accuracy of information provided by job candidates, including criminal backgrounds, educational qualifications, employment histories, and other pertinent details. The primary objective is to assist businesses in making informed hiring decisions, ensuring that they recruit trustworthy and competent personnel. Such services are crucial for organizations aiming to maintain a safe and compliant work environment. With the increasing importance of workplace integrity and security, these services have become an essential component of the recruitment process. As a result, employment screening services are extensively used across various sectors, from financial institutions to healthcare establishments, ensuring due diligence in hiring.

What are the growth prospects and trends in the employment screening services industry?

The global employment screening services market is primarily driven by the heightened need for businesses to maintain a transparent and secure working environment. Additionally, the rising incidents of corporate fraud, false resume claims, and other malpractices have further augmented the demand for rigorous background checks. In line with this, stricter regulatory compliance requirements across countries mandate thorough screenings, propelling the market growth. Moreover, advancements in digital technologies have streamlined and accelerated the screening processes, making them more accessible and efficient for businesses of all sizes. Along with this, the expanding global workforce mobility necessitates advanced cross-border verification processes, thus fueling market growth. Recognizing these needs, providers are continuously innovating and diversifying their services. Furthermore, the emerging trend of integrating artificial intelligence (AI) and machine learning (ML) in the screening process, promising higher accuracy and speed, is positively influencing the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Service:

  • Criminal Background Checks
  • Education and Employment Verification
  • Credit History Checks
  • Drug and Health Screening
  • Others

Breakup by Organization Size:

  • Small and Medium Enterprises
  • Large Enterprises

Breakup by Application:

  • Healthcare
  • IT & Technology and Media
  • Financial Services
  • Staffing
  • Retail
  • Travel and Hospitality
  • Government and Education
  • Transportation
  • Others

Breakup by Region:

  • North America (U.S. & Canada)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
  • Latin America (Brazil, Mexico)
  • Middle East & Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • A-Check America Inc
  • ADP Inc.
  • Capita PLC
  • CareerBuilder LLC
  • Experian plc
  • First Advantage
  • HireRight LLC
  • Insperity
  • Paychex Inc
  • Paycor Inc
  • REED
  • Sterling

Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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