According to a new report published by Progressive Markets Report, titled, “Employment Screening Services Market by Application: Global Opportunity Analysis and Industry Forecast, 2012-2022,” the global employment screening services market was valued at $2,126 million in 2012, and is projected to reach $4,743 million by 2022, growing at a CAGR of 7.7% from 2017 to 2022. United States is anticipated to be the highest revenue contributor during the forecast period.
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Employment screening refers to the credibility check undertaken by different organizations before hiring an employee in an organization. Employers use this service to consolidate an array of employment, financial, criminal, educational, and other records about an individual for recruitment purpose.
The growth of the employment screening services market is expected to be driven by opportunities in untapped, emerging markets and increase in advancement in the information technology & human resources sectors. Moreover, the emphasis given by newer organizations and start-ups for background checking is expected to increase the demand for employment screening services during the forecast period
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However, risks associated with the safeguarding and disposal of information collected during the hiring process are expected to impede market growth. Conversely, different factors such as a large population base and urgent need for employment screening in this region provide ample opportunities for market growth. In the application segment, verification of education and employment accounted for nearly 34.7% of the share in 2012. The criminal background checks application segment is anticipated to grow at the highest CAGR of 9.9% from 2017 to 2022, owing to its immense necessity with respect to hiring new employees in an organization.
The study offers a comprehensive analysis of the key manufacturers operating in the global employment screening services industry. An overview of each market player is provided in the study to assist market players, new entrants, investors, and stakeholders determine steps to be taken to achieve growth in the future.
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The report highlights their overview, business performance, key strategic moves & developments, and global market share with respect to these market players in the report. Important market players studied in the report include First Advantage, HireRight, LLC, Employment Screening Services, Inc., DataFlow Group, Lowers Risk Group, Insperity, GoodHire, Capita PLC, InfoMart, Inc., Employment Screening Resources, PreHire Screening Services, Mintz Global Screening, Verifile Ltd, Triton, Agenda Screening Services, Paychex, Inc., Experian, ADP, LLC., REED, A-Check America, Inc., S2Verify, LLC, CareerBuilder, LLC., Mind Your Business, ClearCare, and Paycor, Inc. Information about the players assists in assessing the competitiveness prevailing in the global market.
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