Global Reference Check Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Reference Check Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Reference Check Software market finds that the global Reference Check Software market reached a value of USD 262.1 million in 2022. It’s expected that the market will achieve USD 403.37 million by 2028, exhibiting a CAGR of 7.45% during the forecast period.

Influence of COVID-19 Outbreak on Reference Check Software Industry Development

Although enterprise employees can work online, the communication efficiency of the home office is low, the communication cost is increased, and the work efficiency of employees is significantly reduced compared with before. At the same time, COVID-19 has hit other industries seriously. Some small and medium-sized downstream customers in the Reference Check Software industry may experience a huge business crisis or even bankruptcy. The reduction of customers will also have a negative impact on the development of the industry.

During the COVID-19 pandemic, less powerful companies in the industry cannot withstand the negative impact of the epidemic and maybe annexed or even face bankruptcy. With the increase in industry integration speed, large enterprises will have a more complete scale and industrial chain after integration, and the survived small enterprises can also find opportunities in it. Additionally, the crisis of COVID-19 can bring dislocated development opportunities for SMEs who are deeply intensively working in a specific segment.

Drivers

First, the reference check can quickly verify the information provided by the candidates, and efficiently and quickly filter a batch of resumes that do not meet the requirements for the company. Second, the software can provide other information about the candidate's skills, performance, knowledge, and work experience from sources other than the candidate himself, and assist the human resources department to verify the authenticity of the recruiter's information in a short time. The two characteristics of reference inspection enable the product to quickly improve the efficiency of recruitment work and become the driving factor for the demand for reference inspection.

Some recruiters do not rely on the opinions of a few references but rely on intuition, decisions based on interviews or phone calls with candidates. Although intuition can sometimes filter out half of the truth and forgers, it does not meet the recruitment criteria. If you use the reference inspection product, you can make the recruitment work have rational conditional judgments and perceptual ability judgments, and check those factors that are difficult to measure through the interview, which can make the recruitment process more comprehensive.

In addition, rational judgment under the same standard can make recruitment fairer, so that the judgment of recruitment ability is not affected by factors such as appearance and emotion.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

HireRight is one of the major players operating in the Reference Check Software market, holding a share of 28.54% in 2020.

HireRight, Inc. provides on-demand employment screening solutions. The Company offers services including criminal, motor vehicle, and public records searches, as well as employment, education, and professional license verifications, credit checks, drug, and health screening services.

Hireology Inc. develops selection management systems. The Company offers an online platform that allows companies to identify and organize their hiring process and leverage data to make better hiring decisions. Hireology offers its products to banks, financial institutions, health care, dealer networks, and other multi-site operators.

Segmentation Overview:

By type, Web Based segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Large Enterprises segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Reference Check Software market covered in Chapter 3:

HireRight
Referoo
VICTIG Screening Solutions
Hireology
OutMatch
Xref
Vitay
HealthcareSource
Checkster
SkillSurvey

In Chapter 4 and Chapter 14.2, on the basis of types, the Reference Check Software market from 2018 to 2029 is primarily split into:

Cloud Based
Web Based

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Reference Check Software market from 2018 to 2029 covers:

Large Enterprises
SMEs

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)