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The online survey software market size is estimated to increase by USD 4.39 billion between 2022 and 2027. The market size is forecast to grow at a CAGR of 11.89%. The growth of the market depends on several factors, including the growing demand for real-time data collection and analysis, the growing popularity of online surveys among companies for market research and customer feedback, and the proliferation of government surveys. Online survey software is a type of computer program or application that helps businesses and researchers create and administer surveys on the Internet. It enables the creation of customized surveys with a variety of question types and allows for easy distribution to a large number of respondents. The software often includes features to collect and analyze the data, providing valuable insights for decision-making purposes.
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The growing popularity of online surveys among companies for market research and customer feedback. Among companies for conducting market research and obtaining valuable customer feedback, online surveys have gained significant popularity which has led to the growth and proliferation of the global market. Their cost-effectiveness is one of the major driving factors. Conventional methods of market research, such as face-to-face interviews or telephone questionnaires, can be costly and time-consuming. Online options deliver flexibility and convenience for both the businesses conducting the research and the participants.
Moreover, according to their specific research objectives, companies can design and customize the questions. Also, they can set up automated reminders and follow-ups to increase response rates. On the other hand, participants can complete the questionnaires at their convenience, eliminating the necessity for planning conflicts and lowering the chances of non-response bias. Therefore, such factors are anticipated to augment the adoption of the software, which will fuel the growth of the global market during the forecast period.
The rise in the adoption of AI and ML technologies in software is an emerging trend shaping market growth. The market is experiencing a major increase in the adoption of AI and ML technologies. This trend is driven by many factors, such as the rising demand for more efficient and accurate data analysis, the need for real-time insights, and the urge to improve the overall experience for respondents. In addition to automating data analysis, AI and ML technologies can also improve the questionnaire experience for respondents. For instance, software can use AI algorithms to dynamically personalize surveys based on the respondent's previous responses or demographic information. The software can improve engagement and response rates, by tailoring the content to each individual, leading to richer and more accurate data.
Similarly, the integration of AI and ML technologies in software allows real-time insights and feedback. It can take days or even weeks to collate and analyze the results with traditional methods. Nevertheless, AI-powered software can deliver instant feedback and analysis, permitting organizations to make timely adjustments or decisions based on the data. Therefore, such factors are anticipated to augment the adoption of the software, which will boost the growth of the global market during the forecast period.
System integration and interoperability issues are significant challenges hindering market growth. The emerging cutting-edge technology in many industry verticals, such as BFSI, telecom, and the public sector, is rapidly growing which gives rise to several system integrations and interoperability issues. Companies should provide unified online software solutions that can be seamlessly incorporated into the IT infrastructure of organizations. Technical problems during business operations can incur costs and lower the efficiency of survey-based market research processes. With the operating systems that are used by enterprises, the software should be compatible.
Moreover, organizations that use multiple versions of operating systems on their mobile devices may face software implementation issues. However, the interoperability problems of the software may force users to move to open-source online software. Consequently, such factors are anticipated to lower the adoption, which may adversely influence the growth of the market in focus during the forecast period.
The market share growth by the retail segment will be significant during the forecast period. Retail in the global market is a growing industry, delivering various solutions for businesses and organizations to collect valuable feedback from their customers and stakeholders. The global market has witnessed significant growth, presenting multiple opportunities for retailers to capitalize on with advancements in technology and the increasing demand for more efficient data collection methods.
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The retail segment was the largest and was valued at USD 1.14 billion in 2017. The rising demand for real-time data and the need to comprehend customer preferences and opinions. Retailers who capitalize on this market can advantage of the ability to tailor their products and services to customer needs, enhancing customer satisfaction and driving business growth. Companies can gain a competitive edge and strengthen their position in the industry by actively participating in the retail sector of the market. Thus, such benefits are anticipated to increase the adoption in the retail segment, which will drive the growth during the forecast period.
In recent years, the free segment in the market has been gaining significant traction. This segment allows users to access basic functions without any financial obligation. It also serves as a great starting point for those new to the software. Users can familiarize themselves with the basic features and functions of tools without feeling pressure to commit financially. Companies that offer a free version of their software can demonstrate the value and capabilities of their product, with the ultimate goal of converting free users into paying customers through upgraded plans or additional features. As a result, the benefits mentioned above are likely to increase demand for online software with free services, driving growth.
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North America is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America holds a major position in the market which can be attributed to various factors, such as advanced technological infrastructure and a highly digitalized economy. The region's strong presence in the market is also attributed to its successful business ecosystem. North America has an extensive number of startups and established enterprises that largely depend on market research and consumer feedback. Companies can make informed decisions, enhancing their competitiveness by leveraging the insights obtained from online surveys.
Furthermore, the region holds a major position in terms of technological advancements, with continuous investments in AI and machine learning (ML). Such advanced technologies further enhance the capabilities of the software, allowing for advanced analytics and real-time data processing. Such technological progressiveness gives North American businesses a competitive advantage, attracting users from across the globe. Therefore, such factors are expected to drive the market growth in the region during the forecast period.
The Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
LimeSurvey GmbH - The company offers online survey software such as Customer Survey which provides customer questionnaires, customer votes, and customer polls.
Medallia Inc. - The company offers online survey software such as checkmarket for self-service surveys.
Methods Group LLC - The company offers online survey software for design, customize, launch, and management.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Market is experiencing robust growth due to the intersection of several key factors. Globalization has opened up markets, driving demand for efficient data collection methods like e-commerce and AI-driven survey platforms. With data security improvements, businesses and educators can trust online tools to protect sensitive information. The proliferation of mobile devices and widespread internet access further expands the reach of virtual learning and participation. Educators utilize these platforms to enhance curriculum effectiveness and gather insights into learners' needs. Professors and educators leverage AI-driven survey platforms like Build with AI and Clarabridge to streamline feedback collection, improving course effectiveness. As virtual learning becomes increasingly prevalent, online survey software plays an integral role in shaping educational strategies and meeting the evolving needs of learners.
Online Survey Software Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.89% |
Market growth 2023-2027 |
USD 4.39 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.24 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 30% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alchemer LLC, Checkbox Survey Inc., IdWeb Srl, LimeSurvey GmbH, Medallia Inc., Methods Group LLC, NICEREPLY, Outside Software Inc., Qualtrics LLC, QuestionPro Inc., SAP SE, SmartSurvey Ltd., SoGoSurvey LLC, Survey Monkey Inc., Survey Planet LLC, Toluna Group, TYPEFORM SL, WorkTango Inc., WorldAPP Inc., and Zoho Corp. Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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