PUBLISHER: The Business Research Company | PRODUCT CODE: 1436547
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436547
Online survey tools are software applications designed to facilitate the creation, management, and analysis of diverse survey formats directly on users' websites, emails, or dedicated web pages. These tools are tailored to gather feedback or data, providing actionable insights through online channels specifically geared towards collecting information.
Online survey software products primarily fall into two categories such as individual grade and enterprise grade. Enterprise-grade solutions are designed to seamlessly integrate into existing infrastructures with low complexity and offer transparent proxy support. They are deployed either on the cloud or on-premises, catering to organizations across small-scale, medium-sized, and large enterprises. Various pricing models within the online survey software domain include one-time licenses, annual subscriptions, and monthly subscriptions. Industries utilizing these online survey software solutions encompass education, public sector, automotive, airline and travel, BFSI (banking, financial services, and insurance), retail, medical, and media sectors.
The online survey software market research report is one of a series of new reports from The Business Research Company that provides online survey software market statistics, including online survey software industry global market size, regional shares, competitors with an online survey software market share, detailed online survey software market segments, market trends and opportunities, and any further data you may need to thrive in the online survey software industry. This online survey software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The online survey software market size has grown rapidly in recent years. It will grow from $3.11 billion in 2023 to $3.56 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth observed in the historical period can be attributed to the early adoption of the internet, cost efficiency measures, globalization, the surge in e-commerce, advancements in data security, and the widespread proliferation of mobile devices.
The online survey software market size is expected to see rapid growth in the next few years. It will grow to $6.33 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The anticipated growth in the forecast period can be attributed to a heightened focus on data analytics, a diversification of survey types, the implementation of user-friendly interfaces, and enhanced security measures. Key trends in the forecast period encompass rapid technological evolution, continuous advancements, integration with other tools, mobile responsiveness and accessibility, as well as advanced analytics and reporting capabilities.
The expanding reach and availability of the internet stand as key drivers propelling the growth of the online survey software market. The increased penetration of the internet holds substantial potential for driving growth across critical economic sectors such as education, healthcare, energy, and governance. Notably, the surge in internet penetration has led to a remarkable upswing in online survey activities over the past decade, largely attributed to both the increased accessibility of the internet and the cost-effectiveness of conducting web-based surveys compared to alternative methods. For instance, as per the ITU's data in 2021, approximately 4.9 billion individuals, accounting for 63% of the global population, were internet users-a notable 17% surge from 2019, encompassing 782 million newly connected individuals. However, despite this significant progress, approximately 2.9 billion people still lack internet connectivity. Consequently, the anticipated continued rise in internet penetration and its availability is expected to fuel the heightened utilization of online survey software in the upcoming forecast period.
The escalating demand for virtual learning stands poised to significantly drive the growth trajectory of the online survey software market in the foreseeable future. Virtual learning denotes an educational setting where learners engage in a digitally-driven curriculum, receiving instruction from educators who deliver lectures through online video or audio platforms. Online survey software plays a pivotal role in the realm of virtual learning by facilitating the efficient collection of student feedback, evaluating the efficacy of courses, and empowering educators to make data-informed enhancements, thereby enriching the overall quality of the virtual learning experience. For instance, data from The World Economic Forum in January 2022 revealed a notable surge in online course registrations on Coursera, reaching 92 million students in 2021-an impressive 29% increase compared to the 71 million students registered in 2020. Consequently, the burgeoning demand for virtual learning emerges as a primary driver propelling the growth of the online survey software market.
Advancements in technology are becoming increasingly prominent within the online survey software market. Major players within this sector are strategically focusing on introducing innovative products to gain a competitive advantage and solidify their market positions. Notably, in January 2022, Snap Surveys Ltd., a US-based company, unveiled the Employee Engagement Survey and the Employee Engagement and Enablement Survey. These surveys are pre-designed and ready to deploy, aiming to capture employee perspectives on crucial topics including job satisfaction, managerial efficacy, and organizational values. Customizable for each organization, these surveys offer valuable insights into employee motivation, perceptions of value, and the overall organizational outlook. This initiative reflects a strategic approach to leverage technology for enhancing employee engagement and fostering a deeper understanding of workforce sentiments for organizations utilizing these survey tools.
Key players in the online survey software market are intensifying their efforts towards introducing cutting-edge survey platforms, such as Build with AI, as a means to establish a competitive advantage. Build with AI stands out as a feature leveraging artificial intelligence to aid users in crafting surveys, enhancing question quality, and optimizing survey design to elevate data collection and analysis. A prime illustration unfolded in November 2023 when SurveyMonkey, a US-based survey company, unveiled Build with AI, harnessing OpenAI's GPT technology to automate survey creation. This innovative feature allows users to outline their survey objectives, prompting the AI to generate a tailored survey accordingly. The generated surveys encompass a range of question types including multiple-choice, checkbox, NPS, name, email, address, phone, and open-text questions. Users retain the flexibility to edit the generated survey, refine it with an edited prompt, or explore alternative survey creation methods, ensuring a customizable and user-centric approach to survey design and deployment.
In October 2021, Qualtrics, an American experience management company, completed the acquisition of Clarabridge for an undisclosed amount. This strategic move by Qualtrics aims to broaden its product portfolio and strengthen its global business presence in the conversational analytics sector. Clarabridge, an American-based company, specializes in providing customer experience software as a service, leveraging AI-powered text and speech analytics to enhance its offerings.
Major companies operating in the online survey software market report are Google LLC, Qualtrics, Zoho Corporation Pvt. Ltd., SVMK Inc. (SurveyMonkey), Confirmit AS, Automattic (CrowdSignal), QuestionPro, Typeform S.L., Formstack LLC, SurveySparrow Inc., Alchemer (SurveyGizmo), Rybbon Inc., Qualaroo Inc., Questionnaire, Voxco Insights Platform, Snap Surveys Ltd., SoGoSurvey Inc., Formsite LLC, QuickTapSurvey, AskNicely, Checkbox Survey Inc., SurveyMethods, SurveyNuts, Novi Systems Inc. (Novi Survey), Feedbackify Ltd., Enalyzer, Dobility Inc. (SurveyCTO), Pollfish, Survey Anyplace, SurveyLegend AB, Qwary, Responster, Obsurvey Ltd., WorldAPP
North America was the largest region in the online survey software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the online survey software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the online survey software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The online survey software market includes revenues earned by entities by identifying critical business opportunities and market trends that are useful in the growth of the business economy. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Online Survey Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on online survey software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for online survey software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The online survey software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.