About Background Screening
In today’s business world, they using software to check the background of job candidates to check either they have any criminal background or not. With the increasing number of hiring across developed regions and to enhance their hiring results. They are adopting background screening requiring background checks. The market size of the Background screening Services in growing in the United States with a rate of 4.3% annually between 2015 and 2020.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The background screening market is complex and dynamic, due to the presence of numerous players offering different services and targeting different segments of the market. The market for background screening services is expanding, catering to the needs of companies and organizations seeking to verify the backgrounds of potential employees or clients. As pre-employment screening continues to rise in popularity and regulatory standards for background checks become more stringent, the market is poised to continue growing in the foreseeable future. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Background Screening market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sterling Infosystems (United States), First Aduvatage (United States), HireRight (United States), Kroll (United States), Employment Screening Resources (United States), Accurate Background (United States), Employment Background Investigations (United States), Neeyamo (India) and Mintz Global Screening (Canada) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are International Screening Solutions (United States), Huaxia Credit (China) and MultiLatin (Mexico).
Segmentation Overview
AMA Research has segmented the market of Global Background Screening market by Type (Criminal History Check, Prior Employment Verification, Education Verification, Reference Check, Drug Screening, Sexual Offender Registry Check, Credit Background Check and Social Media & Internet Check), Application (Commercial and Private) and Region.
On the basis of geography, the market of Background Screening 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). If we see Market by Deployment Mode, the sub-segment i.e. Cloud-Based Type will boost the Background Screening market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. Banking & Financial Sector will boost the Background Screening market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Adoption of Technological Development Including Big Data Analytics, and Others by Background Screening Providers, High Availability Enterprise Level Software for Background Screening and Growing Presence of Mobile-Based Pre-Employment Screening Technology
Market Growth Drivers:
Increasing Trend of Changing Jobs in Developed Regions and Growing Awareness Regarding the Advantages Including Enhanced Regulatory Compliance Associated with Background Screening
Challenges:
Growing Concerns Related to Confidentiality of Individuals
Restraints:
Manual records help in delaying the Background screening process
Opportunities:
Increase in Number of New Market Entrants and Growing Standards of Living Generated with Higher Job Opportunities in Developing Countries
Market Leaders and their expansionary development strategies
In January 2023, Sterling Check Corp. announced the acquisition of Socrates Ltd., the largest independent screening company in Latin America. The acquisition aimed to expand the company's global presence and serve the hiring needs of both multi-national and local clients in the region.
In Nov 2019, First Advantage announced its acquisition by Symphony Technology Group. With this strategic initiative to gain major market share. With the help of this alliance, the company aims to enhance its customer base, and focusing towards the technological development.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Background Screening Providers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.