Online Survey Software
Business for Sale Industry Economics
2002 - 2020
2020 - 2026
The Online Survey Software industry develops software for use in market research, product testing and a variety of other customizable uses such as employee satisfaction or consumer preferences.
Industry operators offer clients a product that is less costly to run but also more time efficient, interactive and can be easily integrated with data analytics platforms.
As a result, many companies have reduced their use of traditional market research activities, which rely on physical results collection and often generate lower response rates as well as lower operational efficiency.
Instead, users are increasingly opting to extract feedback using services provided by online survey software companies, at a fraction of the cost.
The Online Survey Software industry is engaged in the development of software for market research, product testing and other surveying purposes such as assessing consumer and employee satisfaction levels.
The industry has benefited from expanding popularity over the five years to 2020, with favorable pricing and high user accessibility compared with traditional survey and consumer feedback methods.
Furthermore, rising consumer spending and research and development expenditure, two key determinants of industry demand, increased during the period, which contributed to industry revenue expansion.
Businesses that largely rely on consumer spending have increased their advertising expenditure, which includes online customer satisfaction and market research surveys.
Moreover, industry leaders have bolstered revenue by offering data analytics platforms that interface with survey results.
Altogether, industry revenue has increased at an annualized rate of 8.0% to $917.0 million over the five years to 2020.
The Online Survey Software industry is anticipated to continue its sizable expansion over the five years to 2025.
Increasing disposable income and corporate profit, both of which are anticipated to rebound from declines in 2020 due to the COVID-19 (coronavirus) pandemic, are expected to stimulate greater consumer spending levels and incite growing demand for online survey software during the period.
As a result, revenue for the industry is set to increase as businesses expand marketing and research budgets.
Many companies are still transitioning from traditional market research and surveying methods to internet-based technology, which will continue to drive demand during the period.
Overall, industry revenue is expected to increase at an annualized rate of 5.3% to $1.2 billion over the five years to 2025.
This industry develops online survey software for use in market research, product testing, and gathering information on customer and employee satisfaction.
Online surveys ask respondents a list of specific questions to gauge their opinions. Results are then collated and supplied to the author of the questions.
The Online Survey Software sector has a low capital intensity, despite the fact that per-unit labor expenses fall after the online survey software is built. The ratio of depreciation to wages is known as capital intensity.
On average, operators in the business spend only $0.05 on capital for every dollar spent on labor. In 2020, depreciation will contribute for just 1.9 percent of industry income, owing to firms’ investments in online survey software and data storage servers.
Most software businesses simply require a small amount of money, such as computers and office space. Software is an intangible product that necessitates the use of highly trained workers as well as a large amount of time. Programmers, marketers, managers, and attorneys are all needed to create a computer program.
The revenue volatility in the Online Survey Software market is low to moderate. This rapidly expanding business is inextricably related to corporate research and advertising investment, as well as total earnings.
Businesses raise their research expenditures as profits rise, in order to fine-tune their product offerings to a more focused clientele. Corporations study consumers’ preferences, frequently through surveys, as per capita disposable income rises and consumers increase their expenditures.
Although revenue growth has been favorable each year, the sector has grown at a different pace each year, owing to swings in corporate profit and disposable income.