Background Screening Solutions Market Scope
Background Screening solution is a process by which a candidate or company uses to verify that a person is who they claim to be and provides an opportunity for someone to check candidate's criminal record, education, employment history, and other activities that happened in the past in order to confirm their validity. The Frequency, Purpose, and legitimacy of background checks vary between countries, industries, and individuals. It has wide application in various industries. The demand in the market is huge that is propelling market growth over the forecast period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Accurate (United States), InfoMart (Japan), Checkr’s (United States), IntelliCorp (United Kingdom), EBI (India), Employment Screening Resources (United States), SterlingOne (United States), GoodEmployee.com (India), Asurint (United States), Trusted Employees (United States), Onfido (United Kingdom), Justifacts (United States), Verified Credentials (United States), HireRight (United States), GoodHire (United States), HireRight, LLC (United States) and Others |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. The market is expected to grow in the Information and banking industry. It has wide application for Criminal Monitoring and more etc. Several companies such as Accurate, InfoMart are operating in the market to provide customers better offer with various features & unique offering services. The market is a partially fragmented market with the presence of several market players and local players. The market has huge demand that is triggering the market growth over the forecast period
Accurate (United States), InfoMart (Japan), Checkr’s (United States), IntelliCorp (United Kingdom), EBI (India), Employment Screening Resources (United States), SterlingOne (United States), GoodEmployee.com (India), Asurint (United States), Trusted Employees (United States), Onfido (United Kingdom), Justifacts (United States), Verified Credentials (United States), HireRight (United States), GoodHire (United States), HireRight, LLC (United States) and Others are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Background Screening Solutions market by Type and Region with country level break-up.
On the basis of geography, the market of Background Screening Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In March 2023, Accurate Background, the world’s largest privately held provider of compliant background checks, drug and health screening, and monitoring solutions acquired of VerifyNow Pty Ltd, an employment screening provider in Australia. The acquisition complements Accurate’s global strategy and expands its portfolio of international compliance-driven employment screening solutions.
In May 5, 2022, a HireRight, a global family of background screening company launched of its range of background screening solutions for small and medium-sized motor carriers. Leveraging backgroundchecks.com’s self-service platform, this new suite of solutions will allow trucking companies to quickly and easily order robust and competitively priced background checks to help them mitigate their employment risk and comply with their U.S. Department of Transportation (DOT) obligations.
Influencing Trend:
Artificial intelligence and machine learning has the potential to make screening employees more efficient and less biased
Market Growth Drivers:
Growing trend of hiring employees from different parts of the world and Companies are increasingly recognizing the importance of thorough employee screening to ensure a safe and secure work environment.
Challenges:
Handling sensitive personal information raises concerns about data security and privacy.
Restraints:
A large number of local vendors are hampering the quality of the service.
Opportunities:
Remote employee and remote help to reduce the manual work than traditional and its help to reduce time
Key Target Audience
Third-Party vendor, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End-use Industry