Online Survey Software Market: Current trends and future opportunities by 2025
The ever-changing consumer behaviour patterns and the increasing need among sellers to understand it has largely fueled the growth of the global online survey software market. The growing e-commerce activity that is indicative of the fluctuating and changing consumer spending habits can be effectively scrutinized through online survey software. Widespread internet penetration and the improving access to high-speed internet have drastically propelled the demand for online products and services. Additionally, the increasing expenditure on online marketing have resulted in surveys being conducted to allow companies to reach out to a wider audience in the remotest areas. All of these factors will be collectively responsible for the soaring revenues of the global online survey software market in the near future.
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Global Online Survey Software Market: Key Trends
The global online survey software market is likely to witness intense competition in the coming years due to a presence of large number of national and international players in the market. These companies are expected to compete on the basis of technologies, product differentiation, services, quality, and price modeling among others. The geographical reach of these companies is also projected to be instrumental in defining the growth of the global online survey software market.
Currently, the key users of global online survey software are market research firms, manufacturing units, financial services, and the retail sector. Of these, the market research firms hold a lion’s share in the global market and are expected to dominate in the revenue contributions in the coming years as well. Market research firms extensively use online software solutions, implementation of advanced software, data analytics tools, cloud-based online survey software, along with other features to implement web-based surveys for qualitative and quantitative analysis for various products and services. Analysts project that advantages such as efficient management of complex market research projects, swift data collection, ability to collect responses from global respondents, and tremendous help in generating accurate report based on the collected information is making these software famous amongst market research firms.
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Global Online Survey Software Market: Market Potential
Expansion is expected to be an important move for several online survey software companies. For instance, US-based Qualtrics stated that it intends to expand to Asia Pacific region along with its plans to tap into the Australian market. In line with this move, the company plans to open offices in Brisbane, Singapore, and Japan in the coming few years. The talk about Qualtrics going public has also been going around in the industry. Qualtrics recently announced the launch of its new product, the XM Platform, which brings together brand, product, employee, and customer experience to help users understand their consumers better.
Global Online Survey Software Market: Regional Outlook
From a geographic point of view, the global online survey software market is segmented into the Americas, Europe, the Middle East and Africa, and Asia Pacific. The Americas held a dominant share in the global market in 2016. The region is estimated to continue its dominance in the coming years due to a high adoption rate of technology. Users are opting for cloud-based online surveys as opposed to on-premise methods due to their convenience and ease of access. The online survey software market in the Americas will also be propelled by the strong presence of leading players in the region.
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Key Players Mentioned in this Report are:
Some of the leading players operating in the global online survey software market are CloudCherry, Getfeedback, Campaign Monitor, Medallia, Inqwise, QuestionPro, SoGoSurvey, Toluna, Zoho, SurveyGizmo, Confirmit, Qualtrics, and SurveyMonkey.
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