ID: MRFR/ICT/7221-CR | January 2020 | Region: Global | 92 pages
Global Reference Check Software Market is expected to register a CAGR of 7.6% during the forecast period, 2019–2025.
Reference check software automates the process of contacting and questioning the references of the job applicants. It allows HR professionals to obtain comprehensive and accurate information about potential employees efficiently. The software application is deployed and operated by two modes, namely web-based and cloud-based. Both these types are convenient, and intuitive and help the HR professional to automate reference check questions.
The global reference check software market generated a revenue of USD 216.1 Million in 2018 and is expected to reach a market value of USD 360.3 Million by 2025, exhibiting a CAGR of 7.6%. The increasing need to simplify reference checking processes and integration of reference checking with applicant tracking systems are the primary factors driving the growth of the global reference check software market.
Based on the type, the Global Reference Check Software Market has been segmented into Cloud-Based and Web-Based. One of the benefits of cloud-based software is that it can be used with either a web-based login or a private login through a virtual private network (VPN) or with an application program interface (API) interface built into the existing corporate networking system.
Global Reference Check Software Market, by Region, 2018 (%)
Source: - MRFR Analysis
The reference check software market, by region, has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South and Central America. North America accounted for the largest market share of around 37% in 2018, with a market value of USD 80.1 Million; the market is expected to register a CAGR of 7.2% during the forecast period. Europe was the second-largest market in 2018, valued at USD 59.8 Million; the market is projected to register the highest CAGR of 8.7%. However, the market in Asia-Pacific was expected to register a CAGR of 8.0%. North America is expected to dominate the global reference check software market in terms of market share during the forecast period due to the high utilization of the software among SMEs and large enterprises. Among the North American countries, the US accounts for the largest market share due to the presence of major players such as Hireology Inc. and Outmatch, followed by Canada and Mexico.
Among the European countries, currently, Germany is dominating the market with a share of 38% and is the fastest-growing country-level market in the region, followed by the UK with a 29% market share. The growth in the reference check software market in Germany is due to a rise in the use of reference check software in the BFSI, automotive, and manufacturing industries.
The Key Players of the Global Reference Check Software Market are HireRight, LLC, Hireology, Checkster, Xref, Outmatch, SkillSurvey Inc, VICTIG, HealthcareSource HR, Inc, Oleeo PLC, and CareerPlug.
Key Questions Addressed by the report
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Typ, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||HireRight, LLC, Hireology, Checkster, Xref, Outmatch, SkillSurvey Inc, VICTIG, HealthcareSource HR, Inc, Oleeo PLC, and CareerPlug.|
|Key Market Opportunities||The increasing need to simplify reference checking processes and integration of reference checking with applicant tracking systems are the primary factors driving the growth of the global reference check software market.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The elevated use of the software among SMEs is projected to spur the market in the upcoming period.
Outmatch, Checkster, Xref, Hireology, HealthcareSource HR, Inc, SkillSurvey Inc, VICTIG, and Oleeo PLC are spurring the global market.
A CAGR of 7.6% is estimated to power the market in the coming years.
A USD 360.3 Million income level is estimated to be gained by the market in the forecast period.
The North American region is estimated to expand its share of 37% in 2018.
Germany is forecasted to lead the market in the forecast period.
The cloud-based and web-based segments are sued to understand the market better.