Asia Pacific Employment Screening Services Market

Asia Pacific Employment Screening Services Market

Dublin, Feb. 07, 2022 (GLOBE NEWSWIRE) -- The "Asia Pacific Employment Screening Services Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Services, End-User Industry, and Organization Size" report has been added to ResearchAndMarkets.com's offering.

The market is expected to reach US$ 1,283.72 million by 2028 from US$ 955.23 million in 2021. The market is estimated to grow at a CAGR of 4.3% from 2021 to 2028.

The increase in mobile workforce and job immigrants owing to globalization are the major factor driving the growth of the APAC employment screening services. However, lack of defined regulations in certain countries hinder the growth of APAC employment screening services.

The COVID-19 pandemic has severely impacted APAC due to wide disease spread; countries in this region are among the highly populated, which leads to the greater risk infection spread. Many global brands and technological companies are headquartered in the region.

According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. The COVID-19 pandemic, according to the Asia-Pacific Employment and Social Outlook 2020, would have wiped out 81 million workers by 2020. As per the quarterly data available for 2020, employment levels fell in virtually all economies, compared to those in 2019. Working hours in Asia and the Pacific countries fell by 15.2% in the second quarter and 10.7% in the third quarter of 2020, compared to pre-crisis levels.

Working-hour losses are also contributed to the fact that millions of people left the labor force or lost their jobs due to plummeted growth of enterprises. Thus, the employment screening service providers experienced adversely effects in APAC countries during the first three quarters of 2020. However, with the gradual opening of economic activity across the region, the demand for skilled workforce has begun to rise across all industries from the end of 2020, thereby contributing to the employment screening services market growth.

Authbridge Research Services Private Limited; Capita plc; First Advantage; Hireright, LLC; Pinkerton Consulting & Investigations, Inc; Sterling Talent Solutions are among the leading companies in the APAC employment screening services. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, 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.

The market for employment screening services is segmented into services, end-user, organization size, and country.

• Based on services the employment screening services market has been segmented on the basis of service into background screening, verification, and medical and drug testing. The verification segment dominated the employment screening services market in 2020.

• Based on background screening services the employment screening services market has been segmented into credit check, criminal record.

• Based on verification services the employment screening services market has been segmented into qualification, employment history verification, reference, and others.

• Based on End-user industry the employment screening services market has been segmented into IT & telecom, BFSI, government agencies, travel & hospitality, manufacturing, retail, healthcare, and others. The IT & telecom segment dominated the employment screening services market in 2020.

• Based on organization size the employment screening services market has been segmented into large-size enterprise and SMEs. The large-size enterprise segment dominated the employment screening services market in 2020.

Key Topics Covered

1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. APAC Employment Screening Services Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Asia Pacific PEST Analysis
4.3 Expert Opinion

5. APAC Employment Screening Services Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Demand for Time Efficient Selection Systems Owing to Rising Number of Job Applicants
5.1.2 Increase in the Mobile Workforce and Job Immigrants Owing to Globalization
5.1.3 Need to Mitigate Risks for An Organization on Account of Increasing Fraudulent Applications
5.2 Market Restraints
5.2.1 Lack of Defined Regulations in Certain Countries
5.2.2 Concerns Related to Confidentiality of Individuals
5.3 Market Opportunities
5.3.1 Introduction of Big Data
5.4 Future Trends
5.4.1 Legal Compliance
5.4.2 Demand of Enterprise Level Software and Database
5.4.3 Growing Adoption of Advanced Technologies Such as Blockchain in Employee Screening Industry
5.4.4 Modifications in Background Screening Processes
5.4.5 Increase in Continuous Screening Processes Among Organizations
5.5 Impact Analysis of Drivers and Restraints

6. Employment Screening Services Market - APAC Analysis
6.1 APAC Employment Screening Services Market Overview
6.2 APAC Employment Screening Services Market Forecast and Analysis

7. APAC Employment Screening Services Market Analysis - By Services

8. APAC Employment Screening Services Market Analysis - By End-user Industry

9. APAC Employment Screening Services Market - By Organization Size

10. APAC Employment Screening Services Market - Country Analysis

11. Impact of COVID-19 Pandemic on APAC Employment Screening Services Market

12. Industry Landscape
12.1 Market Initiatives
12.2 Mergers and Acquisitions
12.3 New Developments

13. APAC Employment Screening Services Market - Company Profiles
13.1 Authbridge Research Services Private Limited
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Capita plc
13.3 First Advantage
13.4 Hireright, LLC
13.5 Pinkerton Consulting & Investigations, Inc.
13.6 Sterling Talent Solutions

For more information about this report visit https://www.researchandmarkets.com/r/a6i82f

Attachment

• Asia Pacific Employment Screening Services Market

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