Uploaded on Mar 27, 2020
Employment Screening Services Market Growth
Employment Screening Services Market Growth
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.
Segmentation
On the basis of service type, the employment screening services market growth 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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