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Feedback And Reviews Management Software Global Market Report 2024 by The Business Research Company | Qualtrics International Inc., Yext Inc., Semrush Holdings Inc., Birdeye Inc., Trustpilot Group plc, Podium Corporation Inc. , Reputation.com Inc., eKomi
Feedback And Reviews Management Software Market Trends
The feedback and reviews management software market size is expected to see rapid growth in the next few years. It will grow to $26.90 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to the expansion of omnichannel feedback collection methods, increasing emphasis on real-time feedback collection and analysis, rise in demand for actionable insights, increasing focus on personalization in customer experiences, and rise in emphasis on reputation monitoring and management. Major trends in the forecast period include the adoption of AI and ML technologies, the adoption of real-time feedback analysis capabilities, integration with customer relationship management (CRM) and customer experience (CX) platforms, and focus on personalization in customer experiences.
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Feedback And Reviews Management Software Market Major Segments
The feedback and reviews management software market covered in this report is segmented -
1) By Type: Customer, Employee, Client
2) By Deployment Mode: Cloud-Based, On-Premise
3) By Application: Large Enterprises, Small And Medium Sized Enterprises (SMEs)
4) By Industry Vertical: Banking, Financial Services, and Insurance (BFSI), Government And Public Sector, Retail And E-Commerce, Travel And Hospitality, Education, Healthcare And Life Sciences, IT And Telecom, Other Industry Vertical
Key Driver - The Synergy Between E-Commerce Expansion And Feedback Management Software
The expansion of the e-commerce industry is expected to propel the growth of the feedback and reviews management software market going forward. The e-commerce industry refers to the sector of the economy that focuses on conducting commercial transactions electronically, primarily over the Internet. The expansion of the e-commerce industry can be attributed to increasing Internet penetration, changing consumer preferences, and the globalization of markets. Feedback and review management software enhances online and e-commerce platforms by providing businesses with valuable insights into customer satisfaction, helping them improve products, services, and the overall user experience. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, total US e-commerce sales reached an estimated $1,118.7 billion in 2023. This marked a notable increase of 7.6% (±1.2%) compared to the figures recorded in 2022. Additionally, e-commerce sales in the US in 2023 accounted for 15.4% of total sales, up from 14.7% in 2022. Therefore, an expansion of the e-commerce industry is driving the growth of the feedback and reviews management software market.
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Prominent Trend - Increasing Focus On Launching Innovative Online Review Management Platforms For IT Companies
Major companies operating in the feedback and reviews management software market are focusing on developing advanced technological solutions, such as online review management platforms, to drive their revenues in the market. An online review management platform is a software solution designed to help businesses monitor, manage, and respond to customer reviews and feedback posted across various online platforms and review websites. For instance, in May 2024, GINIX, a UK-based provider of online review management solutions, launched its innovative online review management platform specifically designed for IT companies. GINIX offers a comprehensive suite of technologies that allow IT organizations to actively manage their online reputations through effective monitoring, analysis, and interaction techniques. This cutting-edge software ensures that businesses respond quickly to new evaluations, increasing positive feedback while providing precise statistics to outperform competitors.
Feedback And Reviews Management Software Market Players
Major companies operating in the feedback and reviews management software market are Qualtrics International Inc., Yext Inc., Semrush Holdings Inc., Birdeye Inc., Trustpilot Group plc, Podium Corporation Inc. , Reputation.com Inc., eKomi Holding GmbH, TrustRadius Inc., ReviewTrackers Inc., Listen360 Inc., CustomerGauge B.V., BrightLocal Services Ltd., PeerSpot Technologies, Customer Thermometer Ltd., Loopon AB, NiceJob Inc., ReviewPush, Grade.us LLC, ReputationStacker, Capterra Inc., ResellerRatings.com, Review Inc., BlueJay Reviews, Rize Reviews
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Largest And Fastest Growing Region In The Market
North America was the largest region in the feedback and reviews management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the feedback and reviews management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Feedback And Reviews Management Software Market Report Structure
3. Feedback And Reviews Management Software Market Trends And Strategies
4. Feedback And Reviews Management Software Market - Macro Economic Scenario
5. Feedback And Reviews Management Software Market Size And Growth
…..
27. Feedback And Reviews Management Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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