Market Overview:
The global voice of the customer (VoC) software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for customer feedback and insights across industries, rising adoption of cloud-based VoC solutions, and growing need for real-time customer engagement. On the basis of type, the global voice of the customer (VoC) software market can be segmented into on-premise VoC solutions and cloud-based VoC solutions. The on-premise VoC solution segment is expected to hold a larger share in terms of revenue than the cloud-based VoC solution segment during the forecast period. However, due to its advantages such as low cost and easy implementation,the cloud-based VoC solution segment is projected to grow at a higher CAGR than that of on premise VOC solutions during 2018–2030. Based on application,the global voice of customers (VoCs) software market can be divided into SMEs and large enterprises segments.
Product Definition:
Voice of the customer (VoC) software is a type of customer feedback software that allows businesses to collect and track customer feedback in real-time. VoC software can help businesses identify and address problems with their products or services, as well as get a better understanding of what their customers want.
On-premise:
On-premise is a term used to define software and services that are hosted on the customer's premises. In other words, it's an installation of the solution on computers present in the enterprise which allows customers to access solutions over a network. It provides several benefits such as high security, easy maintenance and deployment among others.
Cloud Based:
Cloud-based solutions are software-as-a-service solutions that provide a platform for applications to run. It is an on demand service model based on virtual servers and uses the internet as a medium to deliver content. The technology provides various benefits such as scalability, flexibility, and cost effectiveness which has resulted in increased adoption of cloud based services across various verticals including telecom & IT, banking & financial services, retail industry among others.
Application Insights:
The Small and Medium-sized Enterprises (SMEs) application segment accounted for the largest revenue share of over 60% in 2017. The VoC software helps SMEs to manage their customer relationships efficiently by tracking and monitoring all interactions with customers, prospects, and former employees. It also enables real-time communication between departments such as marketing, sales & support etc., which is crucial for managing the overall operations of an SME. Furthermore, it offers a single unified view of all customer interactions which is expected to drive its adoption among SMEs across the world.
The Large Enterprise application segment is anticipated to witness significant growth over the forecast period owing to various factors such as complexity in operations; need for centralizing data from multiple sources; need for handling large volumes of data; and growing demand from end users regarding improved operational efficiency.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period owing to early adoption of technology and presence of prominent players such as IBM Corporation; Oracle Corporation; Salesforce.com, Inc.; Microsoft Corporation; and Google, Inc.
Asia Pacific is anticipated to witness significant growth over the next eight years owing to increasing demand from SMEs for cost-effective solutions that enable them to engage with their customers more efficiently across various platforms such as social media, online chat/forums & review sites, etc., thus driving regional growth. Moreover rising disposable income coupled with growing consumer awareness regarding customer service standards are some other factors contributing toward regional growth.
Growth Factors:
- Increasing demand for customer feedback and insights to improve product quality and customer experience
- Rising need to reduce the time-to-market for new products and services
- Proliferation of digital channels that provide opportunities for two-way communication with customers
- Growing emphasis on customer retention and loyalty as a key business strategy
- Emergence of big data analytics that can help organizations derive valuable insights from VoC data
Scope Of The Report
Report Attributes
Report Details
Report Title
Voice of the Customer (VoC) Software Market Research Report
By Type
On-premise, Cloud Based
By Application
SMEs, Large Enterprises
By Companies
Qualtrics (SAP), Confirmit, Medallia, Ignite Technologies, Clarabridge, InMoment, Wootric, NICE, Verint ForeSee, MaritzCX, GetFeedback(SurveyMonkey), SurveySparrow, Qualaroo, QuestionPro, Synopticom
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Voice of the Customer (VoC) Software Market Report Segments:
The global Voice of the Customer (VoC) Software market is segmented on the basis of:
Types
On-premise, Cloud Based
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
SMEs, Large Enterprises
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Qualtrics (SAP)
- Confirmit
- Medallia
- Ignite Technologies
- Clarabridge
- InMoment
- Wootric
- NICE
- Verint ForeSee
- MaritzCX
- GetFeedback(SurveyMonkey)
- SurveySparrow
- Qualaroo
- QuestionPro
- Synopticom
Highlights of The Voice of the Customer (VoC) Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- On-premise
- Cloud Based
- By Application:
- SMEs
- Large Enterprises
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Voice of the Customer (VoC) Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Voice of the Customer (VoC) software is a customer service management system that helps organizations manage and track interactions with customers. VoC systems can help identify and resolve customer complaints, provide feedback to employees about their interactions with customers, and generate reports on customer behavior.
Some of the key players operating in the voice of the customer (voc) software market are Qualtrics (SAP), Confirmit, Medallia, Ignite Technologies, Clarabridge, InMoment, Wootric, NICE, Verint ForeSee, MaritzCX, GetFeedback(SurveyMonkey), SurveySparrow, Qualaroo, QuestionPro, Synopticom.
The voice of the customer (voc) software market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Voice of the Customer (VoC) Software Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Voice of the Customer (VoC) Software Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Voice of the Customer (VoC) Software Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Voice of the Customer (VoC) Software Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Voice of the Customer (VoC) Software Market Size & Forecast, 2018-2028 4.5.1 Voice of the Customer (VoC) Software Market Size and Y-o-Y Growth 4.5.2 Voice of the Customer (VoC) Software Market Absolute $ Opportunity
Chapter 5 Global Voice of the Customer (VoC) Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Voice of the Customer (VoC) Software Market Size Forecast by Type
5.2.1 On-premise
5.2.2 Cloud Based
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Voice of the Customer (VoC) Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Voice of the Customer (VoC) Software Market Size Forecast by Applications
6.2.1 SMEs
6.2.2 Large Enterprises
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Voice of the Customer (VoC) Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Voice of the Customer (VoC) Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Voice of the Customer (VoC) Software Analysis and Forecast
9.1 Introduction
9.2 North America Voice of the Customer (VoC) Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Voice of the Customer (VoC) Software Market Size Forecast by Type
9.6.1 On-premise
9.6.2 Cloud Based
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Voice of the Customer (VoC) Software Market Size Forecast by Applications
9.10.1 SMEs
9.10.2 Large Enterprises
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Voice of the Customer (VoC) Software Analysis and Forecast
10.1 Introduction
10.2 Europe Voice of the Customer (VoC) Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Voice of the Customer (VoC) Software Market Size Forecast by Type
10.6.1 On-premise
10.6.2 Cloud Based
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Voice of the Customer (VoC) Software Market Size Forecast by Applications
10.10.1 SMEs
10.10.2 Large Enterprises
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Voice of the Customer (VoC) Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Voice of the Customer (VoC) Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Voice of the Customer (VoC) Software Market Size Forecast by Type
11.6.1 On-premise
11.6.2 Cloud Based
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Voice of the Customer (VoC) Software Market Size Forecast by Applications
11.10.1 SMEs
11.10.2 Large Enterprises
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Voice of the Customer (VoC) Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Voice of the Customer (VoC) Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Voice of the Customer (VoC) Software Market Size Forecast by Type
12.6.1 On-premise
12.6.2 Cloud Based
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Voice of the Customer (VoC) Software Market Size Forecast by Applications
12.10.1 SMEs
12.10.2 Large Enterprises
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Voice of the Customer (VoC) Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Voice of the Customer (VoC) Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Voice of the Customer (VoC) Software Market Size Forecast by Type
13.6.1 On-premise
13.6.2 Cloud Based
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Voice of the Customer (VoC) Software Market Size Forecast by Applications
13.10.1 SMEs
13.10.2 Large Enterprises
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Voice of the Customer (VoC) Software Market: Competitive Dashboard
14.2 Global Voice of the Customer (VoC) Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Qualtrics (SAP)
14.3.2 Confirmit
14.3.3 Medallia
14.3.4 Ignite Technologies
14.3.5 Clarabridge
14.3.6 InMoment
14.3.7 Wootric
14.3.8 NICE
14.3.9 Verint ForeSee
14.3.10 MaritzCX
14.3.11 GetFeedback(SurveyMonkey)
14.3.12 SurveySparrow
14.3.13 Qualaroo
14.3.14 QuestionPro
14.3.15 Synopticom