Overview:
The global reference check software market is maintaining a standard growth trajectory and it is evident from the rise in revenue of the skill survey reference check software market and employment reference check software market. Market Research Future (MRFR) predicts that the Reference Check Software Market is expected to register a CAGR of 7.83% during the forecast period, 2020–2030. The global market would benefit from its ability to streamline the workflow, simplifying it, and integrate it with applicant tracking systems. This would also be cost-effective and timesaving, owing to which its popularity among large enterprises would be cemented and small & medium enterprises would take initiatives to install it.
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Key Players: -
- HireRight
- LLC
- Hireology
- Checkster
- Xref
- Outmatch
- SkillSurvey Inc
- VICTIG
- HealthcareSource HR
- Oleeo PLC
- and CareerPlug
Segmentation:
The global market report, as discussed by MRFR experts, was segmented into type and application to reveal data with the potential to impact strategies. These data were fetched by analysts and sieved using scientific methods and diverse parameters.
By type, the global report containing details of the reference check software market includes segments like cloud-based and web-based. The cloud-based login has significant market demand as it can be used with both web-based login and private login using a virtual private network (VPN) or a tool like application program interface (API) interface.
By application, the global report studying the reference check software market has segments like small & medium enterprises and large enterprises. Its intake is high among large enterprises.
Regional Analysis:
In 2018, North America topped the global market, with 37% of the total market share. Europe is following the trails and is expected to surpass in terms of acceleration during the forecast period by recording 8.7% CAGR.
Industry News:
In August 2020, researchers announced that IBM i developers would not have to experience much change while going for the application cross-referencing tasks as the recent fusion of the ARCAD Observer cross-referencing software with LPEX is going to provide them with all the comforts that they used to enjoy earlier.
This new LPEX integration is expected to transform the way IBM i developers used to work as it has enriched itself in the form of context-sensitive, “where used” impact analysis and dependency information.
LPEX integration was added in late June in ARCAD Observer version 12.1. This integration is the result of a collaboration between ARCAD’s research and development sector and IBM’s RDi development team.
During the COVID-19 crisis, a lot of companies faced a serious financial crunch and a lack of human resources. These factors were favorable for the uptake of the software. However, the financial crunch is like a double-edged sword where it also prevented many companies from installing such software and investing funds in that direction. Both these aspects could significantly transform the software for the reference check market.
Key Questions Addressed by the report
- What was the historic market size (2022)?
- Which segmentation (Type/ Application) is driving the market?
- What will be the growth rate by 2030?
- Who are the key players in this market?
- What are the strategies adopted by key players?
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