What is the key market trend for Global Reference Check Software Market?

Use of AI & Predictive Analytics: Increasing use of advanced technologies such as artificial intelligence, predictive analytics, machine learning, etc. Could help reference check software companies improve the efficacy of their offerings by streamlining the hiring process more. This can also help HR teams eliminate unnecessary references that are of no use by using the predictive analytics tech.

Reference Check Software Market Size, Share, Growth Analysis, By Type(Cloud-based, and Web-based), By Application(Large Enterprises, Small and Medium Enterprises (SMEs)), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Reference Check Software Market?

Global Reference Check Software Market size was valued at USD 250 million in 2022 and is poised to grow from USD 269.5 million in 2023 to USD 491.48 million by 2031, growing at a CAGR of 7.8% in the forecast period (2024-2031).

Report ID: SQMIG45E2241 | Region: Global | Published Date: April, 2024
Pages: 194 | Tables: 61 | Figures: 67

Reference Check Software Market News

In June 2023, Cangrade, a renowned provider of AI-based hiring and talent management solutions, launched its new reference check software. The new solution is capable of automating the enrire reference checking process for HR.

In August 2023, Weekday, a start-up focusing on revolutionizing the reference check process launched from stealth with a USD 2.2 million funding. The company aims to redefine the landscape with trusted references.

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Reference Check Software Market size was valued at USD 250 million in 2022 and is poised to grow from USD 269.5 million in 2023 to USD 491.48 million by 2031, growing at a CAGR of 7.8% in the forecast period (2024-2031).

Reference check software providers can focus on collaborating and partnering with enterprises to create solutions that are specifically tailored to their needs. Reference check software market players can also focus on integrating advanced technologies such as machine learning and artificial intelligence to improve the efficiency and credibility of reference check software. Ensuring data privacy of candidates will be a crucial aspect that all reference check software companies should focus on going forward. 'CareerPlug', 'Checkster', 'EZFacility', 'SkillSurvey Inc.', 'Outmatch', 'Oleeo PLC', 'Hireology', 'HealthcareSource HR, Inc.', 'VICTIG', 'Mindbody', 'HireRight LLC', 'Xref'

Every company needs the best talent for themselves, and recommendations have been crucial in determining how a job applicant fares in their respective expertise. This is why the need for better talent will also boost the demand for better reference check software.

North America is estimated to account for a robust chunk of the reference check software market share owing to the presence of several multinational organizations in this region. Rapid adoption of advanced hiring solutions by companies in this region to optimize hiring process is also allowing it to dominate the landscape. The United States is estimated to lead the reference check software demand outlook in this region followed by Canada.

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Reference Check Software Market Size, Share, Growth Analysis, By Type(Cloud-based, and Web-based), By Application(Large Enterprises, Small and Medium Enterprises (SMEs)), By Region - Industry Forecast 2024-2031

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