What are the Historic and Projected Trends in Employment Screening Services Market Size?
The employment screening services market has been witnessing steady growth in recent years. The market size is projected to grow from $4.73 billion in 2024 to $4.96 billion in 2025, representing a compound annual growth rate (CAGR) of 4.9%. This growth in the historic period is driven by increased concerns about workplace security, regulatory compliance requirements, the globalization of the workforce, the demand for talent quality and fit, and the rising incidence of resume fraud.
The employment screening services market is expected to see robust growth in the future, increasing to $7.19 billion in 2029 at a compound annual growth rate (CAGR) of 9.7%. The projected growth during the forecast period is expected to be influenced by factors such as the emphasis on remote work background checks, the adoption of advanced screening technologies, the growing importance of diversity and inclusion screening, the expansion of the gig economy and freelance work, and the growing demand for remote hiring. Emerging trends that may significantly impact the market during the forecast period include the integration of artificial intelligence in screening processes, continuous monitoring and post-hire screening, enhanced focus on the candidate experience, biometric authentication for identity verification, and blockchain for secure and transparent credential verification.
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What are the Key Drivers for the Employment Screening Services Market?
The employment screening services market growth is anticipated to be fueled by the rising need to reduce fraudulent activities done by employees. Fraudulent activities pertain to deliberate acts aimed at obtaining an unauthorized benefit, such as money or property. For instance, in February 2024, the Federal Trade Commission revealed that consumers reported losing over $10 billion to fraud in 2023, marking the first time that losses have reached this level, a 14% increase compared to losses reported in 2022. Consequently, the rising need to curb fraudulent activities by employees is propelling growth in the employment screening services market.
What Are the Main Segments in the Employment Screening Services Market?
The employment screening services market report covers the following segments:
1) Background Screening
2) Verification
3) Driver Management
4) Medical And Drug Testing
5) Qualification
6) Employment History Verification
7) Reference
8) Other Verifications
9) Credit Check
10) Criminal Record
11) Healthcare
12) IT Or Technology Or Media
13) Financial Services
14) Staffing
15) Retail
16) Industrial
17) Travel And Hospitality
18) Government And Education
19) Transportation
20) Other Applications
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Which Companies Are Leading the Employment Screening Services Market?
Major companies operating in the employment screening services 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., 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.
What are the Emerging Trends in the Employment Screening Services Market?
Companies in the event management software market are developing innovative solutions like criminal monitoring solutions to cater to and exceed employer needs. For instance, in April 2023, Brand Kraken launched its criminal monitoring solution, a comprehensive global employment background screening and drug testing platform that guarantees constant criminal monitoring beyond the initial background checks, which is aimed at exceeding employer and employee needs while ensuring workforce integrity and security.
Which Region is the Fastest Growing in the Employment Screening Services Market?
North America was the largest region in the employment screening services market in 2024. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period. The regions covered in the employment screening services market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does the Employment Screening Services Market Report 2025 Have to Offer?
An employment screening service is a process of examining a candidate and verifying their behavior, credentials, criminal history, and the like to guard businesses from fraudulent employees. These services are used by hiring companies to assess the prospective hires’ suitability for the job and potential safety risks. The Employment Screening Services Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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