Consumer Video Feedback Software Market By Business Top Key Players, Growth, Trend, Segmentation, Revenue and Industry Expansion Forecast Report, The Insight Partners

According to our latest market study on "Consumer Video Feedback Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Deployment and End User," the market is expected to grow from US$ 1,505.15 million in 2021 to US$ 2,539.61 million by 2028; it is expected to grow at a CAGR of 7.8% from 2021 to 2028.

The consumer video feedback software market is dominated by large enterprises, especially in North America and Europe. Complex large-scale operations, high operational costs, prevailing trend of real-time work, and fast adoption of advanced solutions are among key factors driving the demand for consumer video feedback software solutions and services across large enterprises globally. Additionally, large enterprises are in the forefront of digital transformation to improve operations and enhance process security. However, SMEs are witnessing huge growth in adopting consumer video feedback software by replacing traditional feedback solutions. On the other side, the lack of awareness and trained resources to handle the advanced solutions at potential cost hinders the adoption of consumer video feedback software among SMEs.

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The consumer video feedback software is majorly being used as research software and survey software to collect real-time feedback from the customers. This solution basically focuses on collecting and managing data and analyzing video insights exclusively, instead of text-based, quantitative feedback. The rising adoption of advanced cloud-based video feedback permits the customers to offer candid, off-the-cuff answers to open-ended questions, empowering them to contextualize and emotionally engage with qualitative insights. The consumer video feedback software is a data-driven solution for effective decision-making by enabling the targeting of current customers for video feedback or source video feedback from an outside audience, allowing the consumers to record video feedback with the help of their smartphones or tablets. It also provides video analysis features such as keyword analysis, human or computer transcription, or sentiment scoring, that assist the users to precisely manage, tag, sort, analyze, and share individual video responses with customers or stakeholders.

The Key Players In The Global Consumer Video Feedback Software Market Are:

•UserTesting
•dscout, Inc.
•FocusVision
•Qualtrics
•Medallia Inc.
•Voxpopme Ltd.
•Product Peel, Inc.
•Typeform
•Phonic Inc.
•Discuss.io

Impact of COVID-19 Pandemic on Consumer Video Feedback Software Market

According to the latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among worst-affected countries due to the COVID-19 pandemic. In 2020, the world economy suffered significant consequences, and the effects are expected to endure to some extent. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the infection have led to disruptions in primary industries, such as FMCG, BFSI, electronics, IT and telecom, retail, and hospitality. Due to the COVID-19 outbreak, a sharp decline in the growth of these industries restrains the growth of consumer video feedback software market to some extent.
The FMCG sector has been flourishing since the last two decades owing to the rising disposal income among masses coupled with the increasing adoption of modern lifestyle, especially in Asia-Pacific. Modern and fast-paced lifestyle has led to lesser time available at the disposal among individuals, which has propelled the adoption of packed consumer products in food, beverage, and personal healthcare industries. Moreover, with the growing competition, the FMCG companies are investing significantly in research activities and tools, such as consumer video feedback software, for studying the consumer behavior to offer better customer experience and product offering. For instance, Unilever, a prominent FMCG company, leveraged consumer video feedback software to study customer experience while shopping their products on e-commerce platforms. Moreover, as the consumer preference for FMCG products changes from region to region coupled with growing competition in the market, the adoption of analytical tools such as consumer video feedback software is projected to witness significant traction during the forecast period.

The Segments and Sub-Section of Consumer Video Feedback Software Market are shown below:

By Deployment (Cloud and On Premise)

By End User (FMCG, BFSI, Electronics, IT and Telecom, Retail, Hospitality, and Other End Users)

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The FMCG combines consumer goods with different product categories, consisting of marketing, production, and distribution of health, home, personal care, and food & drink items. The rising disposable income of consumers allows them to spend a substantial amount on luxury personal care, as well as other products. Furthermore, the increase in trend of R&D for the new brands & products, online shopping, and expansion of the FMCG network, specifically in the rural areas of the developing countries, is anticipated to create a significant opportunity for the FMCG market players. Recently, the growing concerns of consumers related to their health and personal hygiene and selection of essential products as per their hygienic compatibility, are constantly changing their purchasing decisions. With the adoption of advanced technological solutions in the FMCG industry, consumer video feedback software procurement is also growing. In the FMCG industry, the feedback survey of personal care products by the consumers takes time to time to efficiently analyze the feedback data and meet their requirement.

The Insight Partners Consumer Video Feedback Software Market Research Report Scenario includes:

•The report provides qualitative and quantitative trends of global Consumer Video Feedback Software Market across type, type of products, service, and geography.
•The report starts with the key takeaways (Chapter Two), highlighting the key trends and outlook of the global Consumer Video Feedback Software Market.
•Chapter Three provides the research methodology of the study.
•Chapter Four further provides PEST analysis for each region.
•Chapter Five highlights the key industry dynamics in the Consumer Video Feedback Software Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
•Chapter Six discusses the global Consumer Video Feedback Software Market scenario, in terms of historical market revenues, and forecast till the year 2028.
•Chapter Seven to ten discuss Consumer Video Feedback Software Market segments by type, type of application, service, and geography across North America, Europe, Asia-Pacific, Middle East and Africa, South and Central America. They cover market revenue forecast, and factors driving and governing growth.
•Chapter Eleven describes the industry landscape analysis. It provides detailed description of various business activities such as market initiatives, new developments, mergers and joint ventures globally along with a competitive landscape.
•Chapter Twelve provides the detailed profiles of the key companies operating in the global Consumer Video Feedback Software Market. The companies have been profiled on the basis of their key facts, business description, products and services, financial overview, SWOT analysis, and key developments.
•Chapter Thirteen, i.e. the appendix is inclusive of a brief overview of the company, glossary of terms, contact information, and the disclaimer section.

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