Global Online Survey Software Market (2020 to 2025) - Featuring Medallia, Confirmit & Inqwise Among Others

DUBLIN, Sept. 1, 2020 /PRNewswire/ -- The "Online Survey Software Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.

Global Online Survey Software Market is projected to grow at a CAGR of 13.04% during the forecast period, reaching a total market size of US$10.162 billion in 2025 from US$4.870 billion in 2019

The online survey software is been designed for carrying out surveys online for reaching a wider customer base. These surveys are usually done for knowing the perception of individuals about a particular product, brand, and political scenario among others. The market is growing due to increasing internet penetration and being a cost-effective way of carrying out surveys. The rise in usage of social media is also a factor for use of online surveys as companies are targeting niche customers segments through social media, thereby growing the market for the online survey software in the forecast period. This software enables users to transport the result directly to spreadsheets or statistical programs for detailed analysis which helps in saving time and raising efficiency.

According to the World Bank Data, the number of people using the internet has grown two folds in a decade from 22.96% in 2008 to 49.72% in 2017. This increase in usage of the internet has given rise to the number of people using internet applications around the world. The increase in the internet user population is thus, one of the major factors behind the growing market of online survey software. This is because more companies are carrying out primary research using online survey software for better connectivity and wider reach towards its target customers.

Retail is widely using online survey software for understanding consumer behavior

The retail segment is majorly using online survey software for knowing consumer feedback for improving their services and products. The increasing internet usage and growing advancement in technology have boosted the market growth of online survey software as more people can connect by using smart devices through the internet. The booming e-commerce industry is also a major driver for the online survey software market. E-commerce being a growing industry is majorly focusing on improving its services and products by taking feedback from its customers through online survey software. Companies such as Amazon, Zomato and other e-commerce companies are continuously taking feedback surveys through their customers for knowing their views regarding their services and how to serve them better.

Companies majorly prefer a one-time charge

Many enterprises prefer more of a one-time charge or single price model as it avoids tiered payment plans that are generally associate with the subscription type survey software models. This type of product provides better control over their survey data cost-effectively. It is majorly used by market research firms who are dealing with customer-oriented services. For example, SurveyMonkey provides an enterprise plan that includes enhanced security and compliance features that secure sensitive survey data with SSO, HIPAA and GDPR compliance.

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SOURCE Research and Markets

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