The user research repositories software market is expected to grow from US$ 106.04 million in 2020 to US$ 364.00 million by 2028; it is estimated to grow at a CAGR of 17.1% from 2021 to 2028.
Growing digitalization and rising internet penetration worldwide influence businesses to accelerate their digital transformation and take necessary steps to deliver an engaging Digital Experience (DX).Nearly half of the tech companies comment that improving customer experience and satisfaction were among the leading factors to start a digital transformation.
Large enterprises offering digital experiences, such as Amazon and Google, rely on a considerable amount of customer feedback data that provides a foundation for improving their digital product.The UX data requires to be easily accessible to all stakeholders engaged in product development to streamline the process of user research.
The user research repositories software provides a platform to store the vast pool of customer/user-based data and collaborate it with product developers, marketers, and researchers to deduce useful insight using analytics tools.The growing need to keep the user experience at the priority of product development has resulted in an increase in the amount of feedbacks and surveys taken from the customers.
Therefore, the advent of a vast amount of research data pertaining to user’s digital experience is creating ample opportunities for key players in the user research repositories software market.
Progress in COVID-19 vaccination programs and businesses reopening is fuelling the demand for user research repository software in the coming years.While the first half of 2020 witnessed reduced sales revenue due to the lockdown and halted operations of several industries, online sales were surged significantly in the second half of 2020.
Market players are investing in customer experience management technologies to boost sales and generate revenues.There is an increasing trend of using artificial intelligence, cloud technology, edge computing, machine learning, and IoT technology in North America.
Further, the advent of 5G technology, combined with IoT, is expected to create lucrative opportunities in maximizing efficiency and minimizing wastage of resources across various industry verticals. Thus, post the COVID-19 pandemic, the user research repositories software market is expected grow at a significant pace.
The user research repositories software market is segmented on the basis of type, application, and geography.Based on type, the market is bifurcated into cloud-based and on-premises.
Based on application, the user research repositories software market is segmented into government, retail and e-commerce, healthcare and life sciences, BFSI, transportation and logistics, telecom and IT, manufacturing, and others. Geographically, the market is broadly segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, Japan, South Korea, Singapore, and the Rest of APAC), Middle East and Africa (South Africa, Saudi Arabia, the UAE, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).
Crayon Bits, LLC; Usertimes Solutions GmbH; Tetra Insights, Inc.; Savio Technology Inc.; Reveall B.V.; Productboard, Inc.; UserZoom; Dovetail Research Pty. Ltd.; Condens Insights GmbH; and Aurelius Lab, LLC. are among the key players operating in the global user research repositories software market and profiled in the market study.
The overall global user research repositories software market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the user research repositories software market with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the user research repositories software market.