Consumer Video Feedback Software Market Dynamics by 2031
The consumer video feedback software market size is projected to reach US$ 3.36 billion by 2031 from US$ 1.77 billion in 2023. The market is expected to register a CAGR of 8.3% during 2023–2031. Increasing requirements for data-driven solutions for enhanced decision-making and growing FMCG and retail industry are likely to remain key trends and drivers in the market.
Consumer Video Feedback Software Market Analysis
The consumer video feedback software market is experiencing significant growth globally. This growth is attributed to the increasing requirements for data-driven solutions for enhanced decision-making and the growing FMCG and retail industry. Moreover, high growth potential in small and medium-sized enterprises sector and accentuating growth of cloud platforms based solutions across enterprises are anticipated to drive the consumer video feedback software market in the coming years.
Consumer Video Feedback Software Market Overview
Customer feedback software is a platform that facilitates businesses collect, analyze, and manage, feedback from their customers. This software naturally includes features such as surveys, analytics tools, and feedback forms to help companies gather insights into customer needs, preferences, and opinions.
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Consumer Video Feedback Software Market: Strategic Insights
Market Size Value in US$ 1,505.15 Million in 2021 Market Size Value by US$ 2,539.61 Million by 2028 Growth rate CAGR of 7.8% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Consumer Video Feedback Software Market: Strategic Insights
| Market Size Value in | US$ 1,505.15 Million in 2021 |
| Market Size Value by | US$ 2,539.61 Million by 2028 |
| Growth rate | CAGR of 7.8% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Consumer Video Feedback Software Market Drivers and Opportunities
Increasing Requirement of Data-Driven Solutions for Enhanced Decision-Making to Favor Market.
Data-driven decision-making (DDDM) is the procedure of using data to make verified and informed verified decisions to drive business growth. Fundamentally, using data for decision-making means driving towards key business targets by leveraging verified, analyzed information instead of merely shooting in the dark. Data-driven solutions are very crucial for businesses as data based decision making gives businesses the capabilities to create real-time insights and predictions to optimize their performance. This allows them to test the success of several strategies and make informed business decisions for sustainable growth. It also helps in continual organizational growth, knowledge & innovation, new business opportunities, better communication, fewer errors and less costs, and unrivaled adaptability. Thus, considering the above advantages and benefits is driving the consumer video feedback software market.
High growth potential in small and medium-sized enterprises sector.
Consumer video feedback software has some key features and components, such as sentiment analysis, that allow product teams to derive actionable insights from customer feedback data which is beneficial to informing business decisions. Additionally, there are numerous consumer video software available for small enterprises. For example, UXtweak, Respondent, VideoPeel, Dscout, Forsta, Userfeel, VideoAsk, Medallia Video, Plotto (Quantilope), Discuss, Qualtrics, UserTesting. Thus, considering the above parameters availability of the solutions is anticipated to hold various opportunities for the market in the coming years.
Consumer Video Feedback Software Market Report Segmentation Analysis.
Key segments that contributed to the derivation of the Consumer Video Feedback Software market analysis are deployment and end user.
- Based on deployment, the consumer video feedback software market is divided into cloud and on-premise. The cloud segment is anticipated to hold a significant market share in the forecast period.
- Based on the end user, the consumer video feedback software market is divided into FMCG, BFSI, electronics, IT and telecom, retail, hospitality, and other end users. The FMCG segment is anticipated to hold a significant market share in the forecast period.
Consumer Video Feedback Software Market Share Analysis by Geography
The geographic scope of the consumer video feedback software market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the consumer video feedback software market. The North America market is segmented into US, Canada, and Mexico. The market is experiencing a significant growth. This growth is attributed to factors such as increasing requirements for data-driven solutions for enhanced decision-making and the growing FMCG and retail industry in the region. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of consumer video feedback software market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the consumer video feedback software market.
Consumer Video Feedback Software Market Report Scope
Consumer Video Feedback Software Market News and Recent Developments
The consumer video feedback software market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the consumer video feedback software market are listed below:
- Meta Platforms opened a new tab and launched two new AI-based features for video editing that could be used for posting to Instagram or Facebook. (Source: Meta Platforms, Press Company Website, November 2023)
Consumer Video Feedback Software Market Report Coverage and Deliverables
The “Consumer Video Feedback Software Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Consumer video feedback software market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Consumer video feedback software market trends as well as market dynamics such as drivers, restraints, and key opportunities.
- Detailed PEST/Porter’s Five Forces and SWOT analysis.
- Consumer video feedback software market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the consumer video feedback software market.
- Detailed company profiles.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Deployment and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The expected CAGR of the consumer video feedback software market is 8.3%.
The global consumer video feedback software market is expected to reach US$ 3.36 billion by 2031.
The key players holding majority shares in the global consumer video feedback software market are BEUMER Group GmbH & co KG, FEECO International Inc, Gough & Co (Engineering) Ltd, KWS Manufacturing Co Ltd, Motridal SpA, Skandia Elevator AB, Sukup Manufacturing Co, Satake Corp, Ryson International Inc, AGCO Corp.
The accentuating growth of cloud platform based solutions across enterprise is anticipated to drive the market in the forecast period.
Increasing requirements for data-driven solutions for enhanced decision-making and growing FMCG and retail industry are some of the factors driving the consumer video feedback software market.
North America is anticipated to dominate the consumer video feedback software market in 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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