Global Employment Screening Services Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Employment Screening Services to process of accessing credibility of information submitted by a candidate seeking job in an organization. Organizations collaborate with employment screening service providers to conduct background verification to access different information including criminal background check, educational certificate verification and family & police verification among others. The increasing hiring rate and stringent compliances from regulatory authorities as well as strategic initiatives from leading market players are key factors accelerating the market growth.
According to Statista - in 2019, the rate of hiring among graduates in India was estimated at 22% and it further increased to 26% in 2020. Moreover, as per the US Bureau of Labor Statics estimates - in September 2022, the total nonfarm payroll employment increased by 263,000 whereas unemployment rate reduced to 3.5 percent from around 5 percent in September 2021. Furthermore, the number of unemployed persons reduced to 5.8 million. Also, growing incidences of fake documents submission to seek employment and increasing penetration of screening service providers in emerging markets. However, lack of penetration from SMEs due to budget constraints impedes the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Employment Screening Services Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to presence of leading service providers as well as stringent regulations from government authorities in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising expansion of labor-intensive industries such as retail and healthcare as well as increasing incidences of fake information submission in during job interviews in the region.
Major market players included in this report are:
Recent Developments in the Market:
In December 2021, USA based ClearStar, Inc. a leader in background and medical screening services acquired California, USA based Employment Screening Resources (ESR), a leading provider of background screening services.
In April 2022, California, USA based provider of compliant, background checks, drug and health screening, and monitoring solutions Accurate Background, announced global expansion with commencement of two new office in Thane and Hyderabad, India. This expansion is intended to enhance its background screening services in South Asia region.
Global Employment Screening Services Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Service, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Criminal Background Checks
Education & Employment Verification
Credit History Checks
Drug & Health Screening
Rest of the World