“Global Online Survey Software Market to reach a market value of 9.5 Billion by 2031 growing at a CAGR of 13.9%”
The Global Online Survey Software Market size is expected to reach $9.5 million by 2031, rising at a market growth of 13.9% CAGR during the forecast period.
The North America region witnessed 36% revenue share in the online survey software market in 2023. This can be attributed to several factors, including the high adoption of advanced technologies and the presence of major players in the software industry. Organizations in North America are increasingly leveraging online survey tools to gather insights on customer satisfaction, employee engagement, and market trends, which has propelled the growth of this segment.
Organizations are increasingly shifting from intuition-based to data-driven decision-making processes. Data allows businesses to base their strategies on concrete evidence rather than assumptions. This software facilitates the collection of data from various stakeholders, including customers, employees, and market participants, enabling organizations to make informed decisions grounded in real-time feedback. This shift toward data-driven practices boosts the demand for survey software to streamline data collection and analysis. Hence, the rise of data-driven decision-making in organizations propels the market's growth.
Additionally, As organizations strive to create a positive workplace culture, understanding employee needs and expectations has become crucial. This software enables companies to gather valuable employee insights regarding job satisfaction, work environment, and career aspirations. This data helps organizations tailor their policies and practices to align with employee expectations, fostering a more engaged workforce. The increasing focus on understanding employee perspectives propels the demand for survey solutions that can effectively capture feedback. Therefore, the rising demand for employee engagement and feedback mechanisms propels the market's growth.
However, As data breaches and cyberattacks become increasingly common, organizations and respondents are becoming more wary of sharing personal information through online survey platforms. High-profile incidents of data leaks can lead to a general erosion of trust in digital platforms, making companies hesitant to utilize online surveys for fear of exposing sensitive information. This erosion of trust can lead to decreased participation rates and lower-quality data, as potential respondents may opt out of surveys due to concerns about how their data will be handled. Thus, concerns regarding data privacy and security breaches in online surveys are hampering the market's growth.
On the basis of deployment, this software market is segmented into cloud and on-premise. In 2023, the on-premise segment attained 29% revenue share in this software market. This segment appeals to organizations that prefer to maintain control over their data and software infrastructure. On-premises solutions can enhance security and compliance, which is particularly important for sensitive information industries.
By application, this software market is divided into retail, BFSI, medical & media, education & public sector, automotive, airline & travel, and others. In 2023, the BFSI segment registered 19% revenue share in this software market. This dominance can be attributed to the sector’s ongoing commitment to enhancing customer engagement and understanding client needs. Financial institutions increasingly rely on online surveys to gather feedback on services, assess customer satisfaction, and conduct market research.
Based on enterprise size, this software market is categorized into SMEs and large enterprises. In 2023, the large enterprises segment registered 47% revenue share in this software market. This trend can be attributed to large organizations' substantial investments in data-driven decision-making and customer feedback initiatives. Large enterprises often require comprehensive survey solutions that offer advanced analytics, customization, and integration capabilities, allowing them to gather insights from a vast audience and drive strategic initiatives.
Based on product, this software market is divided into enterprise grade and individual grade. The individual grade segment procured 39% revenue share in this software market in 2023. The rise of self-service survey platforms and the growing trend of personal research and feedback collection have fuelled this segment's growth. Individual grade solutions are typically easier to use and offer a more straightforward approach, allowing users to create surveys quickly and efficiently without requiring extensive technical expertise.
Free Valuable Insights: Global Online Survey Software Market size to reach USD 9.5 Billion by 2031
Region-wise, the online survey software market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 28% revenue share in the online survey software market. This growth can be linked to the rapid digital transformation occurring across various industries in countries such as India, China, and Japan. As businesses in the Asia Pacific region increasingly recognize the importance of customer feedback and market research, the demand for online survey software has surged.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 3.4 Billion |
| Market size forecast in 2031 | USD 9.5 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 13.9% from 2024 to 2031 |
| Number of Pages | 244 |
| Number of Tables | 450 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Deployment, Application, Enterprise Size, Region |
| Country scope |
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| Companies Included | Google LLC, Zoho Corporation Pvt. Ltd., Alchemer LLC, Qualtrics, LLC (Silver Lake Technology Management, L.L.C.), Typeform, SurveyMonkey Inc. (STG Partners, LLC), Sogolytics LLC, QuestionPro Inc., Formstack LLC, and Medallia Inc. |
By Product
By Deployment
By Application
By Enterprise Size
By Geography
This Market size is expected to reach $9.5 million by 2031.
The Rise Of Data-Driven Decision Making In Organizations are driving the Market in coming years, however, Concerns Regarding Data Privacy And Security Breaches In Online Surveys restraints the growth of the Market.
Google LLC, Zoho Corporation Pvt. Ltd., Alchemer LLC, Qualtrics, LLC (Silver Lake Technology Management, L.L.C.), Typeform, SurveyMonkey Inc. (STG Partners, LLC), Sogolytics LLC, QuestionPro Inc., Formstack LLC, and Medallia Inc.
The expected CAGR of this Market is 13.9% from 2024 to 2031.
The Retail Segment led the maximum revenue in the Market by Application in 2023, thereby, achieving a market value of $1.7 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3.3 million by 2031.
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