Online Survey Tools: Introduction
- Online survey tools are software solutions, which are used to conduct various types of surveys such as cart abandonment surveys, product feedback surveys, market research surveys, and customer service feedback surveys. Online survey tools are primarily used by market research firms, and help customers to make a more informed decision before making a purchase.
- Online survey tools provide the ability to run, create, and interpret numerous types of surveys either on email, on the user’s own website, or on hosted web pages. The functioning of most online survey tools is based on a SaaS (Software as a Service) model. Some of the online survey tools offer their services for free and others offer only paid plans. For example, Google provides “Google Forms,” a free online survey software and questionnaire tool, that allows users to easily and quickly put together surveys via a drag & drop interface.
- The global online survey tools market is projected to expand at a rapid pace during the forecast period due to an increase in demand for online survey tools among organizations.
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Global Online Survey Tools Market: Dynamics
Global Online Survey Tools Market: Key Drivers and Restraints
- Growing demand to make smarter business decisions is estimated to boost the demand for online survey tools during the forecast period.
- Rising need to track consumer behavior in real-time to assist in decision making is also estimated to boost the demand for the software across the globe.
- Rise in adoption of marketing automation features is estimated to boost the demand for online survey tools across the globe. Online survey tools reduce the time and effort required for repetitive tasks and automates the whole process of surveys.
- Online survey tools provide the ability to automatically send the collected leads to an email processor, which makes the process easier; this is estimated to propel the market during the forecast period
- Increased demand for multiple surveys triggering options such as on-exit, on-load, on-click, on-scroll, etc. in real-time across the globe is anticipated to boost the demand for online survey tools during the forecast period.
- However, data security and privacy concerns are expected to hamper the online survey tools market during the forecast period
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Impact of COVID-19 on the Global Online Survey Tools Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown. Developed countries are strongly affected by this pandemic. Businesses have been adversely impacted in most countries due to partial or full lockdown. However, COVID-19 has a positive impact on the online survey tools market due to increasing use of online surveys tools or software across the globe to make more informed decisions before making any purchase. For instance, 2Checkout.com, Inc. conducts surveys to study the impact of COVID-19 on online businesses. The main aim of conducting this survey is to innovate, improve the offerings of merchants, optimize processes, and enhance communication between consumers and merchants. Additionally, International Trade Centre (ITC) conducts online worldwide surveys to assess the economic impact of the coronavirus pandemic on global businesses.
North America to Hold Major Share of the Global Online Survey Tools Market
- In terms of region, the global online survey tools market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global online survey tools market in 2019, due to the presence of financially strong, wealthy people in the region. The U.S. is the key country in the region because it has a strong economy and technologically advanced players.
- The online survey tools market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to rapid adoption of technology and advanced tools along with increased digitalization in the region.
Global Online Survey Tools Market: Competition Landscape
Several local, regional, and international players are active in the online survey tools market with strong presence. Rapid technological advancements have created significant opportunities in the global online survey tools market. Market players are gradually focusing on mergers and acquisition with technology partners to develop innovative and advanced solutions in order to improve their offerings and market reach.
Key Players Operating in the Global Online Survey Tools Market
- Client Heartbeat Pty Ltd.
- Formstack, LLC
- Google, LLC
- LimeSurvey GmbH
- Qriously Technologies
- SoGoSurvey LLC
- Survey Planet, LLC
- SurveyGizmo Limited
- Zoho Corporation Pvt. Ltd.
Global Online Survey Tools Market: Research Scope
Global Online Survey Tools Market, by Type
Global Online Survey Tools Market, by Deployment
Global Online Surveys Tools Market, by Survey Type
- Cart Abandonment Surveys
- Product Feedback Surveys
- Market Research Surveys
- Customer Service Feedback Surveys
Global Online Survey Tools Market, by Enterprise Size
- Small & Medium Enterprise
- Large Enterprises
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.