Emerging Trends to Drive Employment Screening Services Market Growth at 9.4% CAGR Through 2029

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Employment Screening Services Market Size Growth Forecast: What to Expect by 2025?
The market for employment screening services has seen a steady expansion in recent years. Predicted growth will propel the market from a size of $4.73 billion in 2024, reaching $4.94 billion in the following year. This rise, at a compound annual growth rate (CAGR) of 4.5%, can be linked back to factors like heightened focus on workplace security, the necessity for regulatory compliance, a globalizing workforce, the need for quality and suitable talent, as well as an uptick in resume fraud incidents.

How Will the Employment Screening Services Market Size Evolve and Grow by 2029?
Expectations are high for the employment screening services market in the upcoming years, with strong growth foreseen. By 2029 the estimated value of the market will be $7.09 billion, marking a compound annual growth rate (CAGR) of 9.4%. This expanded growth during the forecast period can be due to factors such as the increased focus on remote employment background checks, advanced screening technologies being utilized, the growing relevance of diversity and inclusion screening, growth in the gig economy and freelance work, along with higher demand for remote hiring. Major market trends to take note of within the forecast period would be the addition of artificial intelligence in screening procedures, ongoing monitoring and post-employment screening, a heightened focus on candidate experience, the use of biometric authentication for identity verification, and the adoption of blockchain for a secure and transparent process of credential verification.

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What Drivers Are Propelling the Growth of Employment Screening Services Market Forward?
The employment screening services market is anticipated to grow due to the increasing need to curb deceitful actions committed by employees. These deceptive actions are conscious behaviours aimed at gaining unauthorized advantages such as money or property. There is a growing necessity to limit such actions by recently recruited employees in order to prevent monetary and reputational harm to the organization. For example, in February 2024, the Federal Trade Commission, a US government agency, indicated that consumers had lost over $10 billion to fraud in 2023. This was a noteworthy event as losses had hit this threshold for the first time, marking a 14% rise compared to the losses reported in 2022. Hence, the escalating necessity to cut down deceptive acts by employees is fuelling the progression of the employment screening services market.

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Which Emerging Trends Are Transforming the Employment Screening Services Market in 2025?
Prominent companies in the event management software industry are creating novel solutions like criminal monitoring systems, aiming to go beyond employers' expectations. The said solution continually supervises to bolster the integrity and security of the workforce, thereby establishing new benchmarks in the field. It offers immediate insights and bolsters the competitive edge for clients and their staff. For instance, in April 2023, Brand Kraken, a corporation based in the United States offering human resources services, unveiled its criminal monitoring system. It is an exhaustive global employment background screening and drug testing platform, intended to set new benchmarks in the industry by providing consistent criminal monitoring beyond the initial background checks. It aims to surpass employer and employee requirements while safeguarding workforce integrity and security. The motive behind the introduction is to propose an inventive and superior solution.

What Are the Key Segments in the Employment Screening Services Market?
The employment screening servicesmarket 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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Who Are the Key Players Shaping the Employment Screening Services Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Employment Screening Services Market?
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

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