Employment Screening Services Market Outstanding Growth, Current Trends, Future Growth Study and Strategic Assessment

Market Overview:

Market Research Future (MRFR) expects the global employment screening services market to exceed USD 7.26 Billion at a CAGR of 8.2% from 2020 to 2030 (forecast period).

Employment screening is the method of identifying and checking an individual's records, often before their employment. Verification of any applicant on the basis of their resume is difficult, as not all employees provide accurate data and may exaggerate or forge personal details. Employment screening software allows employers to fulfill their compliance, regulatory and legal requirements by setting an objective benchmark for the recruitment of employees; thus, mitigating the risks associated with the selection of fraudulent employees. Employment screening services include several types of background checks, such as contractor screening, drug, and alcohol screening, sex offender checks, medical compliance, motor vehicle checks, global screening, employment eligibility verifications, fingerprint screening, resident monitoring, and rental payment history.

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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.

COVID-19 Impact

The global pandemic has impacted the employment screening services market. In order to contain the effects and spread of coronavirus, the employment screening and background checking companies have implied remote working systems. Nevertheless, companies have to deal with service disruptions in several areas. In another way, the effect of COVID-19 on sectors associated with the employment screening market, including BFSI and IT, has declined consumer demand.

Regional Analysis

Globally, the employment screening services market covers opportunities for 5 different regions—North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

North America was leading the employment screening services market in 2017. This can be attributed to the abundance of companies making their base in the U.S. and Canada. Mitigation of hiring risks and assistance in making informed decisions can fuel the market growth. APAC, on the other hand, is expected to be the fastest-growing market over the forecast period, whereas Europe is expected to be at the second spot in the employment screening services market in terms of market share during the assessment period. Rise of theft and employee drug abuse is primarily responsible for driving the market growth in the region.

Competitive Outlook

First Advantage Corporation, Capita PLC, BackgroundReport.com, Employment Screening Services, Inc., CareerBuilder Employment Screening, LLC, Experian Plc., HireRight, Inc., Sterling, InfoMart, Inc., Paychex, Inc., Peopletrail, Sentinel Background Checks, Employment Background Investigations, Inc, Insperity, Inc., Accurate Now, GoodHire, Automatic Data Processing, Inc., and Paycor, Inc. are key players of the global employment screening services market.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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