Cut-throat competition has made user research software a critical tool for many leading global companies. With the growing market demand for user research software, several companies are heavily investing in R&D to develop innovative technologies and stretch their business potential.
Efforts by Organizations to Gain Customer Trust and Loyalty to Drive the User Research Market
User Research Software is a valuable tool for improving enterprises’ business value. It helps the brand discover their customers and procure their trust and loyalty. Moreover, its ability to offer focused and comprehensive user research analysis allows businesses to get valuable insights and generate more profit. These factors are encouraging the adoption of user research software regardless of geography, organization size, or customer type. Recently, the market has started witnessing tremendous demand for the software from various leading multinational companies such as Siemens, Microsoft, IBM, Nokia, Motorola, and eBay.
User Research Software – A Solution to Generating Accurate Customer Data
User research software generates accurate and valuable customer experience data and provides a better understanding and a holistic view of customer activity across all departments, including sales, marketing, and customer support, among others. However, the software faces difficulty in collecting data from customers, which includes friendliness, social desirability, and familiarity. Furthermore, the insights gleaned from the data are as good as customers understanding and interpretation. The emergence of artificial intelligence has enabled industries to automate their processes. AI-based user research software is found to be beneficial for businesses in terms of saving money and time by automating complex & time-consuming processes.
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SMEs to Embrace User Research Software to Sustain their Presence Amidst Several Market Players
The Small and Medium Enterprise (SME) segment holds a considerable share in the global user research software market due to the rapid adoption of user research software by SMEs to remain viable in the competition. Besides, with the number of new entrants growing, SMEs are focusing on offering competitive pricing and quality product & services to enhance the user experience. Several players are adopting the software to identify loyal customers, retain them, gain customers’ confidence, and boost the revenue.
Several Countries to Adopt User Research Software to Survive in the Competitive Business Environment and Build Good Relations With Customers
North America is projected to dominate the global user research software market during the forecast period, 2019–2026. The strong presence of several established enterprises in the U.S and Canada is driving the demand for the market in the region. Several vendors engaged in providing user research software are focusing on the mergers and acquisitions to increase their market share. For instance, in January 2019, UserTesting Inc., acquired UserMuse, a market research service designed for business-to-business and business-to-customer operations. Moreover, in January 2018, UserZoom acquired WhatUsersDo to strengthen its market position and gain a competitive edge.
Europe is the second-largest region in the global user research software market. The U.K. is the primary contributor to the overall regional market growth, followed by Germany, Russia, and France.
The Asia-Pacific user research software market is projected to grow at a considerable CAGR during the forecast period. Recently, cut-throat international competition has made user research software a critical aspect for many leading Chinese companies. Lenovo, Huawei, Tencent, and Baidu are some of the leading enterprises, which have successfully implemented user experience research practices for boosting their business growth. Japan, India, and Korea are experiencing growth in the user research software. However, in some other parts of Asia, organizations are facing difficulties to establish their presence in the market. LAMEA is expected to witness considerable growth in the user research software market. South Africa, UAE, Saudi Arabia, and Morocco are some of the prominent countries exhibiting significant growth in the market. The use of mobile apps is growing consistently in this region, thereby stimulating market growth.
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