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Employment Screening Services Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, November 4, 2024 /EINPresswire / -- The employment screening services market has experienced strong growth, projected to increase from $4.56 billion in 2023 to $4.84 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.1%. This growth can be attributed to several factors, including heightened concerns regarding workplace security, the necessity for regulatory compliance, the globalization of the workforce, and a growing demand for quality talent that fits organizational needs. Additionally, the rising incidence of resume fraud has further fueled the demand for comprehensive employment screening services, as businesses seek to verify the backgrounds and qualifications of potential employees.
What Is The Estimated Market Size Of The Global Employment Screening Services Market And Its Annual Growth Rate?
The employment screening services market is projected to continue its strong growth, expected to reach $6.48 billion by 2028, with a compound annual growth rate (CAGR) of 7.5%. This growth during the forecast period can be attributed to several key factors. There is an increasing emphasis on conducting thorough background checks for remote work, along with the adoption of advanced screening technologies that enhance the efficiency and effectiveness of the hiring process. Additionally, the growing importance of diversity and inclusion screening has become a priority for many organizations. The expansion of the gig economy and freelance work also contributes to this trend, as companies seek to verify the credentials of a more diverse workforce.
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Growth Driver Of The Employment Screening Services Market
The increasing need to mitigate fraudulent activities perpetrated by employees is expected to significantly drive the growth of the employment screening services market. Fraudulent activities encompass deliberate actions aimed at obtaining unauthorized benefits, such as money or property. Organizations are increasingly recognizing the importance of thorough background checks to prevent financial and reputational losses that can result from hiring individuals with questionable histories. As businesses strive to create a safer work environment and safeguard their assets, they are investing in comprehensive employment screening services. These services help ensure that new hires possess the integrity and qualifications necessary to maintain organizational trust and security, thereby fueling the demand for effective screening solutions.
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Who Are the Leading Competitors in the Employment Screening Services Market Share?
Key players in the market include Automatic Data Processing Inc., Capita plc, CareerBuilder LLC, Experian plc, First Advantage Corporation, HireRight LLC, Sterling Talent Solutions Corp., GoodHire LLC, InfoMart Inc., Accurate Background LLC, Pre-employ. com Inc., Sterling Infosystems Inc., IntelliCorp Records Inc., Backgrounds Online Inc., Corporate Screening Services Inc., Shield Screening LLC, A-Check Global Inc., Universal Background Screening Inc., ClearStar Inc., Trusted Employees & Partners LLC, DataCheck Inc., Advanced Research Systems Inc., Edge Information Management Inc., Orange Tree Employment Screening LLC, General Information Services Inc., Verified Credentials LLC, Background Investigation Bureau, RiskAware LLC, Proforma Screening Solutions LLC, Peopletrail LLC, Backgrounds Plus Inc.
Which Key Trends Are Driving Employment Screening Services Market Growth?
Major companies in the event management software market are focusing on developing innovative solutions like criminal monitoring systems to address and surpass the needs of employers. These criminal monitoring solutions deliver continuous oversight to enhance workforce integrity and security, setting new industry standards
How Is The Global Employment Screening Services Market Segmented?
1) By Services: Background Screening, Verification, Driver Management, Medical And Drug Testing
2) By Verification: Qualification, Employment History Verification, Reference, Other Verifications
3) By Background Screening: Credit Check, Criminal Record
4) By Application: Healthcare, IT/Technology/Media, Financial Services, Staffing, Retail, Industrial, Travel And Hospitality, Government And Education, Transportation, Other Applications
Geographical Insights: North America Leading The Employment Screening Services Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Employment Screening Services Market Definition
Employment screening services involve the thorough examination of candidates to verify their credentials, behavior, and criminal history, thereby safeguarding businesses from potential fraudulent employees. These services are utilized by companies during the hiring process to assess the suitability of prospective hires for specific roles and to identify any safety risks that may arise from their backgrounds. By implementing effective employment screening, organizations can ensure a more secure workplace and enhance overall talent quality, contributing to better team dynamics and productivity.
Employment Screening Services Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global employment screening services market report covering trends, opportunities, strategies, and more
The Employment Screening Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on employment screening services market size, employment screening services market drivers and trends, employment screening services market major players and employment screening services market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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