Employment Screening Services Market, Segment Research Study, And Top Key Players Analysis Employment Background Investigations, Inc (US),Sentinel Background Checks (US)
Market Scenario:
According to market
research, the worldwide Employment
Screening Services Market was worth USD 2,972.0
million in 2019. It is likely to reach a market sum of USD 7.26 Billion by the
end of the year 2030, at a compound annual growth rate of CAGR of 8.2 percent
over the forecast timeframe 2020–2030. As part of the global market, employment
screening is defined as finding and confirming a person's previous records,
usually done before being hired. Because not all workers give correct data and
may embellish or fabricate personal information, verifying the identity of any
individual depends on their CV may be difficult. Employment screening
technology lends help to employers in meeting their financial, legislative, and
legal obligations by establishing an objective standard for securing
employment.
The process of employment
screening helps various businesses authenticate people before hiring them to
work in their company. Such services assure employers that the information
supplied to them through the person is correct and that the expertise and
credentials shown on the cv are appropriate. This testing contributes to the
overall security and integrity of the company. It also maintains the firm's
adherence to regulatory requirements. The worldwide market is very competitive
for several reasons, including urbanization, well-developed facilities, and
international corporations.
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Segmentation:
The market is segmented
based on service type, end-user, and geography. The global employment screening
services market trends are ready to witness decent growth during the forecast
period.
By Application:
The market is segmented
into criminal background checks, credit history checks, education, and
employment verification services based on the application. And drug and health
screening.
By end-users:
The market is segmented
into BFSI, information technology, government, and industrial based on the
propulsion types.
Competitive Outlook:
Employment Screening
Services, Inc. (US),First Advantage Corporation (US),Employment Background
Investigations, Inc (US),Sentinel Background Checks (US),CareerBuilder
Employment Screening, LLC (US),Automatic Data Processing, Inc. (US)F,irst
Advantage Corporation (US),HireRight, Inc. (US)
Regional Analysis:
The employment screening services market has been
segmented into five distinct regions across the globe: North America, Europe,
Asia-Pacific, and the rest of the world. According to the International Labor
Organization, North America dominated the employment screening market accounted
in the year 2017. During the ongoing forecast period, the Asia-Pacific region
is anticipated to be the fastest industry, while Europe is likely to be the
second-largest market in terms of profitability in the employment screening
service market globally throughout the evaluation period.
Industry News
Sterling Student, a
screening system that enables colleges to do background investigations on
students pursuing degrees, apprenticeships, and jobs in professions and areas considered
high-risk for public safety, was introduced in May 2019.
A partnership with Workday is on the cards. Workday is an enterprise
cloud application provider for finance and human resource management. The
partnership was announced in April 2019. The partnership will allow ESS to
provide skilled professionals with practical and customized background
screening bundles while also reducing time spent on the recruiting process.
Table of Contents:
1 Executive
Summary
2 Scope of the
Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued….
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