Global Employment Screening Services Market – Industry Trends and Forecast to 2029

Global Employment Screening Services Market, By Services (Background Check, Verification, and Medical & Drug Testing), End-Use Industry (IT & Telecom, BFSI, Government Agencies, Travel & Hospitality, Manufacturing, Retail, Healthcare, and Others), and Organization Size (SMEs and Large Enterprise) – Industry Trends and Forecast to 2029

Employment Screening Services Market Analysis and Size

A business and its employees are protected through background checks and cross-checking employment history with past employers. Choosing not to conduct employment screens in order to save money and time could result in workplace violence, lawsuits, and employee theft.

Data Bridge Market Research analyses that the employment screening services market was valued at USD 4500 million in 2021 and is expected to reach the value of USD 7789.84 million by 2029, at a CAGR of 7.1% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis and consumer behaviour.

Report Scope and Market Segmentation

Market Definition

Employment screening services are used in the hiring process to investigate job applicants' credit, criminal, driving, educational, and other background information. Location records, work experience, drug screening, address confirmation, bankruptcy checks, behaviour assessments, and personal and professional reference checks are also available. As these services are inexpensive and quick, they are widely used by organisations all over the world to assess applicants' skills for the position and to streamline and improve the effectiveness of the hiring process.

Global Employment Screening Services Market Dynamics

Drivers

• Growing globalization and the increase in number of job immigrants

Globalization has resulted in a massive influx of job immigrants, primarily to the world's most developed countries, seeking better living conditions and employment opportunities. In the United States, the United Kingdom, Germany, and Canada, there are now more immigrants working in both low- and high-skilled positions. The increased number of job immigrants and mobile workforce due to globalization, as well as the growing need to reduce fraudulent activities by applicants, are among the factors driving the demand for background check screening by various organizations, boosting the growth of the employment screening services market.

• Efficiency and effectiveness in comparison to the traditional methods

Using traditional background screening methods to hire new employees can be a lengthy and time-consuming. As a result, more employers are turning to employment screening services to improve the efficiency and effectiveness of their hiring processes. These services ensure that the information on a resume is correct and up to date. They aid in preventing negligent hiring, determining the authenticity of a candidate, and lowering the risk of workplace theft, abuse, and violence.

Opportunity

Several organizations offer tailored solutions to assist medical facilities and hospitals hire and retain productive employees. This, combined with the growing volume of medical data and the resulting need for more workers, is driving demand for employment screening services in healthcare organisations all over the world.

Restraints

Inconsistencies in the workflow that occur during the evaluation phase may be the most significant impediment to the global employment screening services market.

This employment screening services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the employment screening services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Employment Screening Services Market

During the initial phase of the pandemic, the Covid-19 pandemic had a negative impact on the employment screening services market. Because of strict lockdowns, travel bans, and mobility restrictions, various industry sectors such as manufacturing, transportation, and IT and telecommunications have limited the hiring process, decreasing demand for employment screening services. At the same time, a large number of people worked in the healthcare and retail sectors throughout the pandemic. The need for employee health and background checks has grown in these industries. Furthermore, the IT sector has been booming as a result of increased work-from-home opportunities and online education. As a result, the need for a new hiring process has increased in the IT sector, propelling employment screening forward.

Global Employment Screening Services Market Scope

The employment screening services market is segmented on the basis of services, end users and organization size. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Services

• Background Check
• Verification
• Medical & Drug Testing

End user

• IT & Telecom
• BFSI
• Government Agencies
• Travel & Hospitality
• Manufacturing
• Retail
• Healthcare
• Others

Organization size

• Small and medium enterprises
• Large enterprises

Employment Screening Services Market Regional Analysis/Insights

The employment screening services market is analysed and market size insights and trends are provided by country, services, end users and organization size as referenced above.

The countries covered in the employment screening services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the employment screening services market. North American region is one of the major IT hubs, the number of immigrants looking for work has increased. This drives the growth of the regional market. During the forecast period.

Asia-Pacific is expected to have the highest CAGR. Developing economies, especially China, South Korea, Australia, Singapore, and India, offer significant opportunities for employment screening services to improve and develop their capabilities. This is because India and China are densely populated and thus have plentiful job opportunities, which are likely to provide profitable opportunities for the region's employment screening services industry during the forecast period.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Employment Screening Services Market Share Analysis

The employment screening services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to employment screening services market.

Some of the major players operating in the employment screening services market are:

• InterGuard (U.S.)
• ActivTrak (U.S.)
• FairTrak (India)
• IMonitor Software (U.S.)
• Micro Focus (U.K.)
• Splunk Inc. (U.S.)
• WorkForce Software, LLC, (U.S)
• Workday, Inc, (U.S)
• Verint Systems Inc. (U.S.)
• dormakaba Group (Switzerland)
• Rapid7 (U.S.)
• Forcepoint (U.S.)
• Securonix (U.S.)
• ObserveIT (U.S.)
• Imperva (U.S.)
• One Identity LLC (U.S.)
• LogRhythm, Inc. (U.S.)
• SolarWinds Worldwide, LLC (Canada)