The market for Enterprise feedback management is anticipated to reach US$ 10,400 Million by 2032 from its current value of US$ 1,935 Million in 2022. Over the forecast period of 2022–2032, the market is anticipated to grow at a CAGR of 18.3%.
Software for enterprise feedback management gathers and preserves customer feedback, merges data, produces results, and helps to acquire consumer insights into the products or services provided by various businesses. The convergence of business information from various sources, including employees, partners, and social media, is one element of contemporary corporate feedback management.
To generate the data and insights necessary for a successful customer relationship management (CRM) strategy, many firms use survey software. Enterprise Feedback is used by a lot of small and medium-sized businesses.
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The enterprise feedback management (EFM) market refers to the market for software and services that help businesses collect, analyze, and act on customer feedback. EFM solutions allow organizations to gather feedback from multiple channels, such as surveys, social media, and email, and use that feedback to improve customer experience, product development, and overall business performance.
The EFM market has been growing rapidly in recent years, driven by the increasing importance of customer feedback and the need for businesses to understand and respond to their customers’ needs.
Factors driving the growth of the EFM market include the increasing demand for real-time customer feedback, the need to improve customer engagement and loyalty, and the growing importance of data analytics and artificial intelligence in customer experience management. However, the market is also facing challenges such as data privacy concerns, the need for effective data integration and analysis, and the difficulty of measuring the ROI of EFM initiatives.
Market Competition
- SIS International Research, founded in 1984, is a prominent full-service market research and market intelligence organization. On the basis of the feedback data sets, they undertake fieldwork, data collecting, strategic market intelligence, recruiting, and worldwide growth marketing consulting solutions. Their global coverage includes the entire United States, Latin America, Europe, and Asia.
- Momentive (previously SurveyMonkey) is a pioneer in agile experience management, creating powerful, purpose-built solutions that combine the best of humans and technology to redefine artificial intelligence. Momentive’s products, which include GetFeedback, SurveyMonkey, and brand and market analytics solutions, enable decision-makers at 345,000 businesses throughout the world to build extraordinary experiences
The key players of this market include
- IBM Corporation,
- Verint Systems Inc.,
- MaritzCX,
- MirrorWave,
- Qualtrics, LLC,
- SIS International Research,
- Momentive,
- Ipsos SA,
- InMoment, Inc.,
- Cvent, Inc.,
- Confirmit, Inc., and
- Ambivista etc.
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Key Segments Profiled In the Global Enterprise Feedback Management Market
Enterprise Feedback Management Market by Type:
- Small Enterprises
- Medium Enterprises
- Large Enterprises
Enterprise Feedback Management Market by Touch Point :
- Company Website
- Branch/Store
- Web
- Call Center
- Social Media
Enterprise Feedback Management Market by Verticals:
- Energy & Utilities
- BFSI
- Healthcare
- Automotive
- Transportation
- Consumer goods & Retail
- Media & Entertainment
- Hospitality
- Manufacturing
Enterprise Feedback Management Market by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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