Employment Screening Services Market to 2027 - Global Analysis and Forecasts by Services, End-User Industry, Organization Size

PUNE, INDIA, January 17, 2020 /EINPresswire.com/ -- Employment screening services market in global is expected to grow from US$ 4.12 Bn in 2018 to US$ 6.25 Bn by the year 2027. This represents a CAGR of 4.8% from the year 2019 to 2027.

Europe was the leading geographic market, and it is anticipated to be the highest revenue contributor throughout the forecast period. North America's employment screening services market size is expected to gradually increase in the coming years till 2027, owing to the highest adoption of employment screening services in the region.

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The employment landscape has transformed radically after the financial crisis of 2008. The global upsurge in Internet users and the groundbreaking changes in the human resource management industry have created a rich atmosphere for screening service to propagate. A large number of industries across the globe are currently stimulated by the candidate-driven employment market where companies are keen to decrease the time-to-hire ratios. Since hiring delays impacts an organization both in terms of time and cost. Companies are these days competing for the best candidates and therefore are putting more emphasis on crafting a positive onboarding experience, which also includes the background screening process of employees.

Besides this, international recruitment has also created a large number of new opportunities for organizations in different sectors. However, hiring workers/employees from overseas can creates some crucial legal and logistical difficulty in hiring departments. Organizations with high incomes spend an excessive amount of money on employing and onboarding processes. To deploy best practices in the hiring and onboarding program, companies conduct an exhaustive background screening. Background screening cost much lesser to companies when compared to the expense of drug abuse in the workplace and the potentially disastrous costs of fraud

The global employment screening services market has been segmented on the basis of service into background screening, verification, and medical and drug testing. The market has been further segmented by applications into IT & telecom, BFSI, government agencies, travel & hospitality, manufacturing, retail, healthcare, and others. Based on organization size the employment screening services is bifurcated into large-size enterprise and SMEs. Geographically, the employment screening services market is classified as North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

The employment screening services market ecosystem consists of well-established players as well as emerging companies. Some of the key players operating in the employment screening services market are Pinkerton Corporate Risk Management, HireRight, LLC, A-Check America, Inc., Verity Screening Solutions LLC, Capita Plc, Triton, DataFlow Group, Sterling Talent Solutions, First Advantage, Accurate Background, AuthBridge, Insperity and GoodHire and among others. Several other manufacturers are also functioning in the industry, and are contributing substantial revenues year on year, thereby, driving the market growth.

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Table of Content:

1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Employee Screening Services Market – By Services
1.3.2 Global Employee Screening Services Market – By Background Screening
1.3.3 Global Employee Screening Services Market – By Verification
1.3.4 Global Employee Screening Services Market – By Application
1.3.5 Global Employee Screening Services Market – By Organization Size
1.3.6 Global Employee Screening Services Market – By Geography

2. Key Takeaways

3. Research Methodology
Coverage
Secondary Research
Primary Research

4. Employment Screening Services Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South America PEST Analysis
4.3 Expert Opinion

5. Employment Screening Services Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Demand for time efficient selection systems owing to rising number of job applicants
5.1.2 Increase in the mobile workforce and job immigrants owing to globalization
5.1.3 Need to mitigate risks for an organization on account of increasing fraudulent applications
5.2 Key Market Restraints
5.2.1 Lack of defined regulations in certain countries
5.2.2 Concerns related to confidentiality of individuals
5.3 Key Market Opportunities
5.3.1 Introduction of Big Data
5.4 Future Trends
5.4.1 Legal Compliance
5.4.2 Demand of Enterprise level software and database
5.4.3 Growing adoption of advanced technologies such as blockchain in employee screening industry
5.5 Impact Analysis of Drivers and Restraints

Continue……………

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