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.

global online survey software market
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. 

global online survey software market
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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