NEW
YORK, June 24, 2024 /PRNewswire/ -- The
global online survey software market size is estimated to
grow by USD 5.56 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of about 13.21% during the forecast
period.
The online survey software market is thriving, driven by the
increasing demand for real-time data and the power of AI and
machine learning (ML).
Research report provides comprehensive data on impact of trend.
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These technologies offer significant advantages, including:
- Automated data analysis: Saves time and reduces
errors by automating the analysis of survey responses.
- Personalized surveys: Boosts engagement and response
rates by tailoring surveys to individual respondents.
- Real-time insights: Enables businesses to make timely
decisions and adjustments based on up-to-date data.
This trend highlights the growing need for efficient and
accurate data analysis, real-time feedback, and a more engaging
survey experience.
Mobile-First Approach and Feature-Rich Solutions
The market is flooded with feature-rich survey software
solutions catering to various needs. E-commerce and profilers are
major users, and mobile learning and video surveys are gaining
traction. Popular features include checkboxes, open-ended
questions, and progress indicators. Businesses, particularly large
enterprises, leverage survey software for customer feedback and
market research. Popular options include Qualtrics and
SurveyMonkey.
Data Quality: A Critical Hurdle
Despite the market's growth, data quality and accuracy remain a
significant concern. Incomplete or unreliable data due to missing
information or poorly worded questions can lead to flawed
decision-making. Ensuring high-quality data is paramount for
businesses to gain valuable customer insights and make informed
decisions.
Market Segmentation: Diverse Needs
The online survey software market caters to a wide range of
users across various industries and company sizes. Here's a
breakdown of the market segmentation:
- End-users: Retail, financial services, healthcare,
manufacturing, and others.
- Application: Small and medium enterprises (SMEs)
and large enterprises.
- Geography: North America, Europe, Asia
Pacific (APAC), South
America, and the Middle
East and Africa.
The Retail Advantage
In the retail industry, online survey software plays a crucial
role in gathering customer feedback, conducting market research,
and obtaining employee insights. The user-friendly interface and
customizable features make it an essential tool for data-driven
businesses to make informed decisions, improve products, and
enhance customer experience.
Future Outlook: AI Revolutionizes Surveys
The online survey software market is expected to witness
continued growth due to factors like globalization, the rise of
e-commerce, and the increasing adoption of AI. AI-powered platforms
are revolutionizing the survey process by streamlining data
collection and analysis, with companies like Qualtrics,
Clarabridge, SurveyMonkey, Typeform, and SurveyGizmo leading the
charge.
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio