The employment screening services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Employment Screening Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The employment screening services market size has grown strongly in recent years. It will grow from $4.56 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increased concerns about workplace security, regulatory compliance requirements, globalization of workforce, demand for talent quality and fit, rising incidence of resume fraud.
The employment screening services market size is expected to see strong growth in the next few years. It will grow to $6.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to emphasis on remote work background checks, adoption of advanced screening technologies, growing importance of diversity and inclusion screening, expansion of gig economy and freelance work, growing demand for remote hiring. Major trends in the forecast period include integration of artificial intelligence in screening processes, continuous monitoring and post-hire screening, enhanced focus on candidate experience, biometric authentication for identity verification, blockchain for secure and transparent credential verification.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The rising need to reduce fraudulent activities done by employees is expected to propel the growth of the employment screening services market going forward. Fraudulent activities refer to deliberate acts with the intention of obtaining an unauthorized benefit, such as money or property. The rising need to reduce fraudulent activities by newly hired employees with the intent of preventing financial and reputational loss to the organization. For instance, according to a 2021 study carried out by Experian, an Australia-based data analytics company, more than 45% of businesses in India have seen an increase in fraud amid the pandemic. Therefore, the rising need to reduce fraudulent activities done by employees is driving the employment screening services market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The employment screening services market covered in this report is 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
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Regional Insights –
North America was the largest region in the employment screening services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the employment screening services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the employment screening services market report are 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.
Table of Contents
1. Executive Summary
2. Employment Screening Services Market Report Structure
3. Employment Screening Services Market Trends And Strategies
4. Employment Screening Services Market – Macro Economic Scenario
5. Employment Screening Services Market Size And Growth
…..
27. Employment Screening Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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