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2025 Feedback And Reviews Management Software Market Outlook: Key Indicators Shaping Growth Through 2034
Feedback And Reviews Management Software Market
What Will the Feedback And Reviews Management Software Industry Market Size Be by 2025?
The market size for feedback and reviews management software has experienced swift growth in the past few years. The prediction for its expansion is from $14.32 billion in 2024 up to $16.8 billion in 2025, with a compound annual growth rate (CAGR) of 17.3%. The historical growth surge can be traced back to the emergence of online review platforms, an increased understanding of the significance of managing reputation in diverse industries, a heightened demand for software that boosts customer engagement, escalating competition, and a rise in compliance with rules and standards.
What's the Long-Term Growth Forecast for the Feedback And Reviews Management Software Market Size Through 2029?
The market for feedback and reviews management software is predicted to witness a significant surge in the coming years, expanding to a value of $31.5 billion by 2029, with a compound annual growth rate (CAGR) of 17.0%. This growth for the forecasted period is primarily due to the broadening scope of omnichannel feedback collection avenues, heightened emphasis on gathering and examining up-to-the-minute feedback, increased demand for implementable insights, a growing focus on individualization of customer experiences, and boosted attention towards reputation surveillance and administration. Noteworthy trends for the upcoming period include the incorporation of AI and machine learning technology, the introduction of real-time feedback analysis features, synergy with customer relationship management (CRM) and customer experience (CX) platforms, and a dedication to personalized customer experiences.
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What Are the Key Growth Drivers Fueling the Feedback And Reviews Management Software Market Expansion?
The growth of the feedback and reviews management software market is projected to be driven by the expanding e-commerce industry. The e-commerce industry, which conducts commercial transactions primarily online, has seen immense growth due to factors such as increased internet accessibility, changes in consumer behavior, and international market integration. Feedback and review management software play a critical role in online retailing, supplying businesses with vital data on customer satisfaction, thereby enabling the enhancement of products, services, and overall user experience. For example, data from the United States Census Bureau, a US government agency, revealed that the total sales of US e-commerce were an estimated $1,118.7 billion in 2023, marking a significant 7.6% (±1.2%) increase from 2022. Moreover, e-commerce sales in the US in 2023 represented 15.4% of all sales, a rise from 14.7% in 2022. Therefore, the growth of the e-commerce industry is contributing significantly to the expansion of the feedback and reviews management software market.
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What Are the Key Trends Driving Feedback And Reviews Management Software Market Growth?
Dominant enterprises active in the feedback and review management software market are strategically investing in the development of advanced technology products, such as online review management systems, to stimulate their earnings in the market. The concept of an online review management system is a software tool created to assist companies in controlling, supervising, and reacting to consumer reviews and feedback shared on various web platforms and review sites. For instance, in May 2024, GINIX, a company based in the UK which specializes in online review management solutions, presented its creative online review management platform tailored specifically for IT organizations. GINIX provides a complete range of technologies that enable IT companies to be proactive in managing their online reputations through robust monitoring, analytical, and engagement methods. This advanced software guarantees that businesses can act swiftly to fresh evaluations, boosting positive feedback whilst supplying exact statistics to eclipse competitors.
How Is the Feedback And Reviews Management Software Market Segmented?
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
Subsegments:
1) By Customer: Product Review Management Software, Customer Satisfaction (CSAT) Survey Tools, Net Promoter Score (NPS) Tools, Online Reputation Management Software, Customer Feedback Analytics Platforms, Multichannel Feedback Collection Tools (Web, Mobile, Email)
2) By Employee: Employee Engagement Platforms, Performance Review Software, Pulse Survey Tools, Employee Experience Management Software, 360-degree Tools, Employee Satisfaction And Wellness Platforms, Employee Recognition And Rewards Systems
3) By Client: Client Satisfaction Survey Tools, Client Relationship Management (CRM) Feedback Systems, B2B Client Feedback Platforms, Project Or Service Review Management Software, Client Retention And Loyalty Tools, Client Feedback Analysis And Reporting Software
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Which Companies Are Leading the Charge in Feedback And Reviews Management Software Market Innovation?
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
Which Regions Are Leading the Global Feedback And Reviews Management Software Market in Revenue?
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.
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