Escalating Fraudulent Activities Fueling Demand For Employee Screening Services: Key Factor Driving The Growth In The Employment Screening Services Market

The Employment Screening Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Employment Screening Services Market Size During the Forecast Period?
The market for employment screening services has been consistently expanding in the past few years. The market, which was valued at $4.73 billion in 2024, is set to increase to $4.96 billion in 2025, experiencing a compound annual growth rate (CAGR) of 4.9%. Factors contributing to this growth in the historic timeline include heightened awareness around workplace safety, the need for regulatory adherence, the globalization of the workforce, the quest for high-quality and suitable talent, as well as the increasing occurrences of resume fraud.

Strong expansion is anticipated for the employment screening services market in the coming years, with its value projected to reach $7.19 billion by 2029 from a compound annual growth rate (CAGR) of 9.7%. Several factors are contributing to this predicted surge, including increased attention to background checks for remote work, implementation of advanced screening technologies, recognition of diversity and inclusion screening, the rise of the gig economy and freelance job market, as well as the increasing need for remote recruitment. The future trends to look out for encompass the utilization of artificial intelligence in screening procedures, uninterrupted monitoring and post-employment screening, amplified focus on candidate experience, the use of biometric verification for identity proof, and the adoption of blockchain for a secure and transparent validation of credentials.

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What Are the High-Growth Segments in the Employment Screening Services Market?
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 Or Technology Or Media, Financial Services, Staffing, Retail, Industrial, Travel And Hospitality, Government And Education, Transportation, Other Applications

Subsegments:
1) By Background Screening: Criminal Record Checks, Employment History Verification, Education Verification, Credit History Checks
2) By Verification: Identity Verification, Professional License Verification, Reference Checks
3) By Driver Management: Motor Vehicle Record Checks, Driver Qualification File Management, Fleet Safety Compliance Services
4) By Medical And Drug Testing: Pre-Employment Drug Testing, Random Drug Testing, Health Screening Services

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What Key Drivers Are Expected to Influence Future Employment Screening Services Market Growth?
The increasing demand to curb illicit actions conducted by workers is anticipated to fuel the advancement of the employment screening services market in the future. Illicit actions constitute planned deeds intended for an unauthorized advantage, like money or property. There's an escalating requirement to reduce such actions undertaken by newly hired staff to prevent financial and reputational harm to the organization. For instance, in February 2024, the Federal Trade Commission, a government agency based in the US, reported that consumers had lost over $10 billion to fraud in 2023. This record-breaking loss marks the first time that these losses reached this magnitude, showing a 14% rise compared to losses reported in 2022. Hence, the growing demand to mitigate illicit actions executed by workers is propelling the growth of the employment screening services market.

Which Companies Hold the Largest Share Across Different Employment Screening Services Market Segments?
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 Trends Are Driving Growth in The Employment Screening Services Market?
Leading businesses in the event management software market are crafting ingenious solutions such as criminal monitoring applications to surpass employer expectations. The criminal monitoring system ensures constant oversight to bolster workforce honesty and safety, thereby establishing fresh benchmarks in the sector. It yields real-time data and augments competitive edge for clients and their employees. For example, in April 2023, Brand Kraken, an American firm offering HR services, rolled out its criminal monitoring software, a thorough international employment background verification and drug testing platform. The aim is to set new norms in the sector by facilitating ongoing criminal surveillance beyond the preliminary background assessments, with the goal of not only meeting but exceeding employer and employee needs, while ensuring workforce trustworthiness and safety. The motive behind this launch is to propose a novel and superior solution.

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What Are the Emerging Geographies for The Employment Screening Services Market Growth?
North America was the largest region in the employment screening services market in 2024. 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

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Employment Screening Services Market?
2. What is the CAGR expected in the Employment Screening Services Market?
3. What Are the Key Innovations Transforming the Employment Screening Services Industry?
4. Which Region Is Leading the Employment Screening Services Market?

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