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The Synergy Between E-Commerce Expansion And Feedback Management Software: Strategic Insights Driving Feedback And Reviews Management Software Market Momentum in 2025
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Is the Expected CAGR for the Feedback And Reviews Management Software Market Through 2025?
In recent times, the market size for feedback and reviews management software has seen substantial growth. It is projected to increase from $14.32 billion in 2024 to $16.73 billion in 2025, witnessing a compound annual growth rate (CAGR) of 16.9%. The spectacular growth in the historical span is due to factors such as the emergence of online review platforms, recognition of the significance of reputation management in diverse businesses, increase in the demand for software solutions facilitating customer engagement, heightened competition, and an uptick in compliance with regulations and standards.
What's the Projected Size of the Global Feedback And Reviews Management Software Market by 2029?
Predictions suggest a swift expansion in the feedback and reviews management software market in the coming years, with an estimated worth of $29.92 billion by 2029, having a compound annual growth rate (CAGR) of 15.6%. The growth during this period is attributed to an increase in the use of omnichannel feedback collection methods, growing emphasis on immediate feedback collection and interpretation, surge in the need for actionable interpretations, an enhanced focus on personalized customer experiences, and a rise in the importance of reputation tracking and management. Significant trends for this forecast period include the incorporation of AI and ML technologies, the usage of real-time feedback analysis capabilities, amalgamation with customer relationship management (CRM) and customer experience (CX) platforms, and a consistent focus on customization in customer experiences.
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Top Growth Drivers in the Feedback And Reviews Management Software Industry: What's Accelerating the Market?
Rising advancements in the e-commerce sector are predicted to boost the development of the feedback and reviews management software market. The e-commerce industry is primarily concerned with carrying out trade transactions digitally, predominantly via the Internet. Factors contributing to the expansion of e-commerce include growing Internet accessibility, shifts in consumer behavior, and the internationalization of markets. Feedback and review management software is a major enhancement to online and e-commerce platforms as they equip businesses with critical insights into customer satisfaction, facilitating the improvement of products, services, and the overall user experience. For example, data from the United States Census Bureau, a US government agency, revealed that in February 2024, total US e-commerce sales hit an estimated $1,118.7 billion in 2023, a notable surge of 7.6% (±1.2%) from the data collected in 2022. Further, e-commerce sales in the US in 2023 constituted 15.4% of all sales, a rise from 14.7% in 2022. Thus, the growth of the e-commerce industry is fueling the expansion of the feedback and reviews management software market.
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What Trends Will Shape the Feedback And Reviews Management Software Market Through 2029 and Beyond?
Companies leading the feedback and reviews management software market are leveraging new technology solutions to boost their market revenues. These solutions, such as online review management platforms, are designed to facilitate businesses in keeping track, managing, and reacting to customer reviews and feedback across various online channels and review websites. For illustration, GINIX, a UK-based company specializing in providing online review management services, debuted a novel online review management platform specially tailored for IT companies in May 2024. GINIX provides a comprehensive technology bundle that enables IT firms to actively control their online reputation through effective tracking, analyzing, and engaging methodologies. This state-of-the-art software assures fast response times to fresh assessments and increases positive evaluation, while also offering accurate statistical data, giving them an edge over their competitors.
What Are the Main Segments in the Feedback And Reviews Management Software Market?
The feedback and reviews management softwaremarket 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 Top Companies are Driving Growth in the Feedback And Reviews Management Software Market?
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 Will Dominate the Feedback And Reviews Management Software Market Through 2029?
North America was the largest region in the feedback and reviews management software market in 2024. 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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