Market Research Of Global Online Survey Software Market By Knowledge Sourcing Intelligence
The global
online survey software market was valued at US$4.065 billion in 2017 and is
expected to grow at a CAGR of 11.25% to reach a market size of US$6.929 billion
by the year 2022. Online survey
software is used for designing online surveys to better understand the
perception of an individual about a particular product, brand, and political
scenario among others. The increase in internet access to the consumers has
resulted in firms strategizing their online marketing techniques which
involves conducting significant numbers of online surveys to better understand
the market demands and public preference for products.
The growing
integration among the key economies has led to the increasing adoption of
technology which has urged the need for the internet
accessibility. The major factor that has led to the deep penetration of the
internet among the general population is the rapid increase in the number of
smartphone users, on account of growing smartphone shipment over
the past decade, and thus improving the internet penetration rapidly,
more specifically in the developing economies. Market Research is done by
the knowledge sourcing industry due to the huge scope with the respective
industry.
Sample view of global online survey software market share
According to the World
Bank, the percentage of the population using the internet increased from 6.77% in
2000 to 45.91% in 2016. Simultaneously, the number of households with broadband
access has increased significantly in both developed and developing economies.
For instance, in the Netherlands, households with internet access increased
from 53.9% in 2005 to 79.5% in 2010, similarly, in Turkey, it increased from
1.7% in 2005 to 33.7% in 2010 according to the Organization for Economic
Cooperation (OECD). Moreover, according to the United Nations, the global
population is expected to reach 9.8 billion by 2050 which will further
increase the use of the internet in the future. The growing internet penetration
will increase the trend of conducting online surveys and as such will continue
to drive the demand for online survey software.
GLOBAL ONLINE SURVEY
SOFTWARE MARKET BY APPLICATION
By application, the global online survey software market is segmented
as retail, market research, healthcare, financial services, and
manufacturing. Retail application accounted for the largest market share in
2016 owing to the continuous development of new products across the FMCG
industry. Booming the e-commerce industry further contributes to the growth of
online survey software for the retail market. Healthcare will witness a CAGR of XX%
between 2017 and 2022 since online surveys help to gather and analyze data for
conducting basic research, clinical trials, or epidemiological studies. Rising
global population and incidence of chronic diseases is encouraging online
survey software providers to tap this application market share by way of
launching new products and services. In 2016, one of the world’s fastest
growing online survey forms and application provider GetFeedback extended the
capabilities of Salesforce Health Cloud with integrated, mobile-ready surveys
and forms to empower healthcare organizations to collect patient feedback
effectively.
Sample view of global online survey software market share
RETAIL
The retail online survey software market
will grow at a CAGR of XX% during the forecast period to reach a total market
size of US$XX.XXX billion by 2022 from US$XX.XXX billion in 2017. The booming e-commerce industry is the major driver of the retail online survey software
market. Increasing penetration of smartphones and internet connectivity
has fueled the adoption of online surveys by the existing e-commerce
websites to know about the market in a particular region or a country that helps
the company to allocate its resources efficiently and effectively. New entrants
in the online retail industry also conduct online consumer-centric surveys to
invest strategically in the region or country where the demand for their
services is high. Retailers are conducting online surveys to know to study consumer behavior and preferences regarding online shopping so as to get
both global and local insights into the specific customer group they want to
target. For instance, Amazon sends an online survey feedback form to its
customers regarding their shopping experience with them. This helps the company
to improve its services while gaining the confidence of customers. All these
factors lead to the expanding demand for online survey software globally which
will fuel the overall market growth. Health Cloud with integrated, mobile-ready
surveys and forms to empower healthcare organizations to collect patient
feedback effectively.
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