New York, US, June 17, 2021 (GLOBE NEWSWIRE) — Market Overview:
The global Reference Check Software Market generated a revenue of USD 216.1 Million in 2018 and is anticipated to touch USD 360.3 million by 2025 at a 7.6% CAGR, reveals the current Market Research Future (MRFR) report. Global Reference Check Software Market research report information By Type, Application and Region – Forecast till 2027.
Reference check software assists organizations for automating the process to contact and question reference of job applicants. Such software help organizations to get potential hire references quickly and efficiently. Besides, it is used by talent recruiters and hiring managers to find the background of a specific candidate and assist them to decide whether to hire them or not. With the help of this software, there will not be any need for manual phone calls, email conversations, or other digital method that saves time of companies and increase the demand for reference check software solutions. Some of the benefits of using this software include verifying the information’s truthfulness offered by the applicant, check whether the applicant possesses any criminal history or background, check whether the applicant possesses the right skills set for the job, help in identifying the applicant’s behavior during their time working with the earlier employers, and help in predicting the success in one’s new job.
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Dominant Key Players on Reference Check Software market covered are:
- Oleeo PLC
- HealthcareSource HR
- SkillSurvey Inc
Market USP exclusively encompassed:
As per the MRFR report, there are numerous factors that are propelling the reference check software market share. Some of these entail the increasing need for simplifying reference checking processes, the integration of reference checking with applicant tracking systems, use of machine learning technology, rising adoption of reference checking software by various industry verticals like automotive, retail, healthcare and BFSI, and adoption of new technologies like artificial intelligence in reference software. The additional factors fuelling market growth include the increasing use of reference check software among large enterprises and small and medium enterprises to verify the background of candidates, and employment opportunities in different end use industries.
Browse In-depth Market Research Report (92 Pages) on Reference Check Software:
On the contrary, inaccuracies in reference check software may limit the global reference check software market growth over the forecast period.
Segmentation Of Market Covered In The Research:
The MRFR report throws light on an inclusive analysis of the reference check software market based on application and type.
By type, the global reference check software market is segmented into web-based and cloud-based.
By application, the global reference check software market is segmented into small and medium enterprises (SMEs), and large enterprises.
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Geographically, the global reference check software market is bifurcated into Europe, the Asia Pacific (APAC), the Middle East and Africa (MEA), North America, and South & Central America.
North America to Steer Reference Check Software Market
Europe to Hold Second-Largest Share in Reference Check Software Market.
APAC to Have Significant Growth in Reference Check Software Market
The COVID-19 outbreak has resulted in a dramatic loss of human lives across the globe and presents an unprecedented challenge to the globe of work. Job loss is amid the most severe instant impact of this crisis. This outbreak and the subsequent nationwide lockdown have altered the landscape of the employment sector. Either employees were laid off or were ordered leave without pay. Most companies across the globe had fired a huge number of employees due to the shutdown of their operations. It is, however, estimated that in the post COVID-era, companies would largely adopt reference check software to make recruitment easy and also hire potential employees. This will also save resources and time for companies that will improve efficiency. This, in turn, may have a positive impact on the market growth.
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