Employment Screening Services Market is estimated to be US$ 11.58 billion by 2030 with a CAGR of 9.0% during the forecast period
Employment Screening Services Market accounted for US$ 4.95 billion in 2020 and is estimated to be US$ 11.58 billion by 2030 and is anticipated to register a CAGR of 9.0%. The practise of analysing an applicant in order to safeguard a company from a dishonest employee is known as employment screening. In general, it looks at the candidate's behaviour, criminal history, qualifications, and social media accounts. It also includes drug testing, which benefits the company by lowering workplace violence and preventing wrong hiring, among other things. It's frequently used in banking and finance, as well as in IT and other areas. Employment screening services assist in determining a candidate's authenticity for the organization's security and to protect it from fraudulent candidates.
The report " Global Employment Screening Services Market, By Product Type (Criminal Background Checks, Education & Employment Verification, Credit History Checks, and Drug & Health Screening), By Application (Banking & Financial Sector, Government Agencies, and Information Technology), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029’’
Key Highlights:
- In August 2021, HireRight, a leading provider of global background screening services and workforce solutions, announced the release of its 2021 U.S. Transportation Spotlight Report.
- In September 2020, OneTrust, LLC unveiled its GRC solution for the integrated risk management platform, which streamlines audits, implements dynamic business controls, and connects departments for managing risks.
Analyst View:
Some of the primary factors driving the employment screening services market expansion are a growing focus on improved workforce quality and greater regulatory compliance. Additionally, rising nations, particularly emerging economies such as Australia, China, India, Singapore, and South Korea, provide considerable prospects for employment screening services to expand and strengthen their capabilities. This is due to the fact that growing economies such as India and China are densely populated and hence have significant job prospects, which will give profitable chances for the employment screening services market in the next years.
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Key Market Insights from the report:
The Global Employment Screening Services Market accounted for US$ 4.95 billion in 2020 and is estimated to be US$ 11.58 billion by 2030 and is anticipated to register a CAGR of 9.0%. The Global Employment Screening Services market is segmented based on the product type, application, and region.
- By Product type, the market is segmented into Criminal Background Checks, Education & Employment Verification, Credit History Checks, and Drug & Health Screening.
- By Application, the market is segmented into Banking & Financial Sector, Government Agencies, and Information Technology.
- By Region, the Global Fibre Optics is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the worldwide Employment Screening Services Market in 2020, and this trend is projected to continue during the forecast period.
Competitive Landscape:
The key players operating in the global Employment Screening Services Market includes Accurate Background, LLC., A-Check America, Inc., AuthBridge, Capita PLC, Dataflow Group, First Advantage, GoodHire, HireRight LLC, Insperity, Inc. and Pinkerton Corporate Risk Management.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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