Report : North America Employment Screening Services Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Services (Background Check, Verification, and Medical & Drug Testing), End-User Industry (IT & Telecom, BFSI, Government Agencies, Travel & Hospitality, Manufacturing, Retail, Healthcare, and Others), and Organization Size (SMEs and Large Enterprise)
At 8.4% CAGR, the North America Employment Screening Services Market is speculated to be worth US$ 4,204.88 million by 2028, says Business Market Insights
According to Business Market Insights research, the North America employment screening services market was valued at US$ 2,809.45 million in 2023 and is expected to reach US$ 4,204.88 million by 2028, registering a CAGR of 8.4% from 2023 to 2028. Demand for time efficient selection systems owing to rising number of job applicants, increase in job immigrants amid globalization, and need to mitigate risks associated with fraudulent activities of applicants are the critical factors attributed to the North America employment screening services market expansion.
In the process of globalization, highly advanced countries have experienced a large incoming of job immigrants. According to Migration Data Portal, there were 169 million international migrant workers in the world in 2019. There has been an increased influx of immigrants in low-skilled and highly professional jobs in the US, Canada, and other developed countries. Notable job opportunities for immigrants occur in private sector, textile, apparel, and leather manufacturing; agriculture; information technology, computers, and other electronics; and administrative and support services sectors. In 2017, ~29 million immigrants were working or looking for work in the US, making up ~17% of the total civilian labor force. Mischievous immigrants may pose a risk to an organization's security and, eventually, to a country. As a result, countries offering job opportunities have laid down various regulations and prerequisites for job applicants. A survey conducted by the Society for Human Resource Management (SHRM) has identified a need for a comprehensive employment screening service for job immigrants because of several factors. These factors include the focus on security post-7/11 incident, the rising number of terrorist activities worldwide, legislation or modifications rolled out by newly appointed governments, availability of technologically advanced solutions for quicker and efficient background investigations, an upsurge in the frequency of misrepresentation of credentials by applicants, and growing competition among applicants due to the scarcity of jobs post-recession. Thus, a tremendous increase in the number of job immigrants, as well as growing fraudulent activities by applicants, bolsters the demand for a thorough background check during the candidate screening process, thereby driving the growth of the North America employment screening services market.
On the contrary, concerns related to confidentiality of candidate data hampers the North America Employment Screening Services Market.
Based on services, the North America employment screening services market is segmented into background check, verification, and medical & drug testing. The verification segment held 55.5% share of North America Employment Screening Services Market in 2023, amassing US$ 1,559.72 million. It is projected to garner US$ 2,272.78 million by 2028 to expand at 7.8% CAGR during 2023–2028.
Based on end-user industry, the North America employment screening services market is segmented into IT & Telecom, BFSI, government agencies, travel & hospitality, manufacturing, retail, healthcare, and others. The IT & Telecom segment held 30.3% share of North America Employment Screening Services Market in 2023, amassing US$ 851.42 million. It is projected to garner US$ 1,371.88 million by 2028 to expand at 10.0% CAGR during 2023–2028.
Based on organization size, the North America employment screening services market is segmented into SMEs and large enterprise. The large enterprise segment held 64.8% share of North America Employment Screening Services Market in 2023, amassing US$ 1,819.35 million. It is projected to garner US$ 2,688.99 million by 2028 to expand at 8.1% CAGR during 2023–2028.
Based on country, the North America employment screening services market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 78.9% share of North America Employment Screening Services Market in 2023. It was assessed at US$ 2,217.35 million in 2023 and is likely to hit US$ 3,242.38 million by 2028, exhibiting a CAGR of 7.9% during the forecast period.
Key players dominating the North America employment screening services market are Accurate Background Holdings LLC; A-Check America Inc; First Advantage Corp; HireRight holdings Corp; Inflection Risk Solutions LLC; Insperity Inc; Pinkerton Consulting & Investigations Inc; Sterling Check Corp; Triton Inc; and Verity Screening Solutions LLC, among others.
- In 2020, Accurate Background, LLC, a leading provider of compliant background checks, substance and health screening, and Form I-9 verifications, reported today that it has added new services to its COVID-19 Program to assist businesses in hiring and thriving during the pandemic.
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