At a CAGR of 11.9% the market for User Experience (UX) Research Software is anticipated to surpass USD 356.0 Million by 2027
The
global User Experience (UX)
Research Software Market was anticipated to account for
approximately USD 183.8 Million. Further, the worldwide market is projected to
generate nearly USD 356.0 Million by the end of the year 2026. However, it is
estimated to account for the market value at a CAGR of 11.9% in the assessment
period.
The
increasing online commerce business, the growing digitization initiatives, and
the growing adoption of mobile marketing among different vertices are some of
the important growth driving factors for the User Experience (UX) Research Software
Market during the analysis period. In addition, the UX
research software vendors and manufacturers have significant growth
opportunities due to the new technology implementation and digitalization, such
as incorporating artificial intelligence and IoT technology in UX research
software, which is growing the attention of enterprises and governments. Apart
from these, the UX research software includes many benefits such as increasing
professionalism, flexibility, and cost savings that are fuelling the demand for
the global market among all the verticals.
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Market segmentation
As
per the User
Experience (UX) Research Software Market report, the
current market has been segmented based on types and applications.
Depending
on the type segment, the current market has been classified into on-premises
and cloud-based. Of these, the cloud segment was projected to lead the global
market for the year 2019 and is further estimated to continue its leading
position during the assessment timeframe. Moreover, this segment is estimated
to account for a higher CAGR of 13.3% in the analysis period. The demand for
the cloud segment is fuelling because of its scalable and powerful quality that
possesses flexible pricing to grab the attention of different enterprises.
The
User Experience (UX) Research Software industry has been segregated into SMEs
(small and medium enterprises) and large enterprises in terms of the
application segment. In 2019, the large enterprise segment was projected to
lead the global market and is further anticipated to continue its leading
position in the further coming years. This segment is expanding due to the
adoption of advanced software to gain more customers and enhance their
marketing activities. On the contrary, the EMEs segment is predicted to account
for a higher CAGR of 15.8% in the assessment timeframe of 2020 to 2030.
Regional analysis
According
to the User
Experience (UX) Research Software Market analysis, the
global market has been segregated into various geographical regions such as the
Middle East & Africa, North America, Asia-Pacific, Europe, South America,
and other parts of the world.
Among
all, the North American market for User Experience (UX) Research Software was
estimated to dominate the market for the year 2019 by generating a market value
of USD 86.9 million. Further, this region is anticipated to expand at
approximately USD 255.4 million by the end of the year 2030 and is estimated to
account for a CAGR of 10.5% during the forecast period. Apart from these
regions, the Asia Pacific User
Experience (UX) Research Software Market is projected to
show the highest CAGR of 17.3% between the period of 2020 to 2030.
Competitive Analysis:
The
Key Players of the Global User Experience (UX) Research Software Market include
UserTesting (US), Qualtrics (US), Hotjar (Malta), Lookback (California),
UserZoom (London), Validately (New York), Userlytics (California), UsabilityHub
(Victoria), TryMyUI (California), Woopra (San Francisco, CA), Usabilla
(Amsterdam), TechSmith (US), and User Interviews (New York).
Industry News
In
August 2020, TechSmith Relay became rebranded with TechSmith Knowmia, which is
considered a great solution to provide Zoom integration.
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