- Online survey tools are software solutions, which are used to conduct various types of surveys such as cart abandonment surveys, product feedback surveys, market research surveys, and customer service feedback surveys. Online survey tools are primarily used by market research firms, and help customers to make a more informed decision before making a purchase.
- Online survey tools provide the ability to run, create, and interpret numerous types of surveys either on email, on the user’s own website, or on hosted web pages. The functioning of most online survey tools is based on a SaaS (Software as a Service) model. Some of the online survey tools offer their services for free and others offer only paid plans. For example, Google provides “Google Forms,” a free online survey software and questionnaire tool, that allows users to easily and quickly put together surveys via a drag & drop interface.
- The global online survey tools market is projected to expand at a rapid pace during the forecast period due to an increase in demand for online survey tools among organizations.
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Global Online Survey Tools Market: Dynamics
Global Online Survey Tools Market: Key Drivers and Restraints
- Growing demand to make smarter business decisions is estimated to boost the demand for online survey tools during the forecast period.
- Rising need to track consumer behavior in real-time to assist in decision making is also estimated to boost the demand for the software across the globe.
- Rise in adoption of marketing automation features is estimated to boost the demand for online survey tools across the globe. Online survey tools reduce the time and effort required for repetitive tasks and automates the whole process of surveys.
- Online survey tools provide the ability to automatically send the collected leads to an email processor, which makes the process easier; this is estimated to propel the market during the forecast period
- Increased demand for multiple surveys triggering options such as on-exit, on-load, on-click, on-scroll, etc. in real-time across the globe is anticipated to boost the demand for online survey tools during the forecast period.
- However, data security and privacy concerns are expected to hamper the online survey tools market during the forecast period
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Impact of COVID-19 on the Global Online Survey Tools Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown. Developed countries are strongly affected by this pandemic. Businesses have been adversely impacted in most countries due to partial or full lockdown. However, COVID-19 has a positive impact on the online survey tools market due to increasing use of online surveys tools or software across the globe to make more informed decisions before making any purchase. For instance, 2Checkout.com, Inc. conducts surveys to study the impact of COVID-19 on online businesses. The main aim of conducting this survey is to innovate, improve the offerings of merchants, optimize processes, and enhance communication between consumers and merchants. Additionally, International Trade Centre (ITC) conducts online worldwide surveys to assess the economic impact of the coronavirus pandemic on global businesses.