Background Screening Solutions Industry 2021

 The global employment screening services market size was valued at $4.06 billion in 2018, and is projected to reach $7.64 billion by 2026, growing at a CAGR of 8.3% from 2019 to 2026. Employment screening refers to a process where the employer verifies the behavior as well as screens candidates for drugs. The key objective of employment screening services is to identify the authenticity of a candidate for the security of the organization and to safeguard the organization from fraudulent candidates. Numerous benefits provided by the employment screening services include reduced workforce violence, protect negligent hiring, and meet the regulatory, insurance, and customer requirements of the organization. 

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Rise in illegal activities and money laundering cases in organizations is encouraging the employers to adopt various employment screening services. Furthermore, untapped potential of emerging markets and increase in startup organizations are anticipated to provide lucrative opportunities for the employment screening services market growth. 

The global employment screening services market is expected to be driven by improved quality of workforce, enhanced regulatory compliance with respect to employment, and merits associated with employment screening in organizations. Moreover, urgent requirement of background checking is expected to increase the demand for employment screening services during the forecast period. However, technology risks and discrimination concerns associated with employment screening are anticipated to restrain market growth. Furthermore, untapped potential of emerging markets and increase in startup organizations are anticipated to provide lucrative opportunities for employment screening services market trends.