The research study covers the present scenario and growth prospects of the global online survey software market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Analysts have presented the various facets of the market with a focus on identifying the key industry influencers.
The increasing Internet penetration worldwide and the high usage of mobile devices has a positive impact on the market growth. Mobile and application-based surveys are gaining traction. Enterprises are using smart devices to create surveys and collect data from respondents. The service enables users to collect the data of a respondent at any time and from any place.
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Technavio ICT analysts highlight the following three factors that are contributing to the growth of the global online survey software market:
Growing need for digital transformation
The adoption of digital solutions and devices in organizations enables the implementation of online survey software. Enterprises use the data gathered from survey-based research to transform end-to-end ICT infrastructure. Digital transformation among target consumers, such as SMEs, create opportunities for IT companies and OEMs to market their products and services effectively.
Amrita Choudhury, a lead enterprise application research analyst at Technavio, says, “Online survey-based research is gaining popularity as enterprises use online surveys to get feedback about new products and services. The data that is gathered from surveys helps in analyzing the market potential of IT solutions and services that are used for digital transformation.”
Increased use of online survey software among SMBs
SMBs are the key target segment for market researchers, government surveys, and technology firms. This is because they play a critical role in the growth of the economy worldwide. The requirements of these establishments are different compared to large organizations. This is due to budget constraints and infrastructure development requirements. This sector contributes to the GDP, employment, and exports of a country.
“Market research firms conduct online surveys to gather business-related information. Governments and international organizations also use online survey software to conduct several types of business-related research among SMBs,” adds Amrita.
Rise in volume of e-commerce transactions
Most companies are concerned about the quality and functionality of their e-commerce divisions. This is because disruptions in the user experience may affect the existing and prospective customer base. This has created a need for robust IT systems that enable a scalable and reliable online presence and cater to the growing customer demand.
The demand for online products and services is on the rise in both developed and developing nations. Retailers in developing countries, such as Brazil and India, are investing in e-commerce platforms. The need for interactive commerce has increased as a result of widespread Internet penetration, high-speed Internet with better functionalities, and improvements in Internet applications.
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