STATE OF THE INDUSTRY
The pre-employment background screening industry represents a $2 billion domestic market, according to KPMG. The top screening firms listed here account for 78.2 million screenings within the past year. Most of the larger screening firms are rapidly expanding their global services, although few have developed an extensive physical presence overseas.
The screening industry is in a state of massive consolidation, with the larger companies buying up scores of smaller firms and rapidly expanding market share and geographic reach. Size is an advantage, with the larger firms better positioned to make critical investments in technology and staffing and able to handle increasingly complex compliance requirements. Pricing remains the key factor in driving client purchasing decisions, according to KPMG. Costs are falling with the proliferation of searchable databases and the continued automation of the interaction between clients and providers.
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