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Background Check Services Market Analysis
Background check services category spend growth, background check services price trends, background check services supply market analysis and regional spend segmentation insights are offered in this report.
Spend growth of this market has the potential to touch a value of over USD 800 million with spend momentum accelerate at a CAGR of more than 4% between 2018-2023. In the sports industry, drug check tests are the mandatory during the enrollment process of players. Buyers from this industry prefer to outsource these tests to be conducted by experts. Such a preference will contribute to spend growth in the background check services market during the forecast period. To keep the workplace free from drug abuse, employers across the globe have mandated the maintenance of thorough drug test records for their employees. This will increase scopes of drug testing service providers and drive investments in the background check services market.
Top Spending Regions in the Background Check Services Market
In terms of spend growth, North will dominate the background check services market and will account for a substantial share in spend growth in the global market.
The dominance of this region is substantiated by the concentration of the global background check service providers who offer online platforms that assist buyers in conducting background checks of employees. In the US, background check services are in high demand from the healthcare industry. The professional credibility of the physicians and nurses are determined by conducting an employment background check on them. Prevalence of the DOT regulations mandates drug testing on potential hires in the transportation industry. This will propel the overall demand for background check services in the US during the forecast period.
In Europe, the increase in the demand for financial check services from government agencies such as the European Commission will drive spend growth in the background check services market in the region. The growth of temporary/contingent workers is expected to drive the demand growth in the background check services market to ensure workplace safety.
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Insights Offered in this Background Check Services Market Report
Insights into Some of the Leading Background Check Services Service Providers
The supply market dynamics hint at a substantial hike in suppliers’ OPEX which will drive buyer’s procurement spend. Keeping such dynamics in mind, strategic selection of suppliers and maintaining an effective supplier relationship management are observed to facilitate buyers with optimized procurement expenditure and better category management in the background check services market. This background check services market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies for the top background check service providers. The top background check services suppliers highlighted in this report include:
Criteria to select suppliers in this dynamic background check services market is subject to change based on the day-to-day market outlook. Get a free demo of our procurement platform to gain immediate access into real-time insights to the changing suppliers selection criteria.
SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.