Europe Consumer Video Feedback Software Market
No. of Pages: 79 | Report Code: TIPRE00024722 | Category: Technology, Media and Telecommunications
No. of Pages: 79 | Report Code: TIPRE00024722 | Category: Technology, Media and Telecommunications
Germany, Italy, Russia, France, the UK, and Italy are among major countries in Europe. Western Europe is known for its high standard of living, with residents experiencing high income levels. It is one of the wealthiest parts in Europe, with more GDP per capita than the other parts owing to factors such as the high purchasing power of masses coupled with positive outlook for the adoption of new technologies and products. Organizations from various verticals highly emphasize on investing market research activities and tools including consumer video feedback software. Numerous industries such as retail, telecom, hospitality, FMCG, and media are adopting advance data collection and analytical tools to enhance customer experience and product offering. For instance, ExterionMedia, an advertisement firm, was awarded £1 billion advertising contract for the London underground rail estate. To gather primary data from commuters, ExterionMedia opted to use consumer video feedback tools instead of conventional feedback tools or techniques. The strategy allowed commuters to share their feedback in their own words. By using consumer video feedback tools, ExterionMedia was able to understand commuters’ perspectives easily and deploy full-motion advertisements, which were engaging. Further, one of the Europe’s leading retailers’ chains, Asda Stores Ltd., started using consumer feedback software for collecting primary data from its poll of 18 million customers. By using consumer feedback software tool, the Asda Stores Ltd. was able to interpret difficulties faced by customers and analyze their emotions, which a conventional text-based data gathering tools misses out. As a result, Asda Stores Ltd. has deployed 165,000 dedicated personnel to enhance its customer experiences across all touchpoints, which led to improve its customer retention rate. Also, by using advance data gathering and analytics tools including consumer video feedback software, Schneider Electric SE (a German electronics giant) was able to interpret its customer behavior over its websites and easily diagnose the shortcoming of customers, which resulted in increase its net satisfaction scores by 34 points within 24 months. Further, several end-to-end technology providers and startup companies are increasingly investing in data gathering and analytics tools to enhance their offering. They use customer video feedbacks as a marketing tool to strongarm their business image. In addition, amid COVID-19 outbreak, the use of consumer video feedback software in the entire European market has accelerated. Organizations are using various tools, such as consumer video feedback software to understand customers behavior and improve their experience in the pandemic. Meanwhile, the high penetration rate of internet coupled with government initiatives, such as The European Digital Strategy, is among other factors bolstering the adoption of consumer video feedback software in Europe.
The impact of COVID-19 differed from country to country across Europe as selected countries witnessed an increase in the number of recorded COVID-19 cases and subsequently attracted strict lockdown and social isolation. However, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of the robust healthcare system. All major retail stores (except stores that were offering essentials), restaurants, and hotels had shut down their services for at least five months in all the major European economies. Many small retailers who were planning to implement consumer video feedback software in the beginning of 2020 have postponed their software implementation process. However, with slow recovery from COVID-19 cases in the beginning of 2021, many retail stores, hospitality, and FMCG industry in countries such as the UK and Germany have started rebounding in terms of sales. The footfall in malls and restaurants in 2021 is slowly reaching the pre lockdown situation, thereby helping the Europe consumer video feedback software market to recover.
Strategic insights for the Europe Consumer Video Feedback Software provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 398.59 Million |
| Market Size by 2028 | US$ 638.02 Million |
| Global CAGR (2021 - 2028) | 7.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Deployment
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Consumer Video Feedback Software refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The consumer video feedback software market in Europe is expected to grow from US$ 398.59 million in 2021 to US$ 638.02 million by 2028; it is estimated to grow at a CAGR of 7.0% from 2021 to 2028. Huge growth potential in small and medium-sized enterprises (SMEs) sector; consumer video feedback software market is presently dominated by large enterprise customers across various countries in Europe. Complex large-scale operations, high operational costs, prevailing trend of real-time work, and fast adoption of advanced solutions are some of the key reasons that are driving the demand for consumer video feedback software solutions and services across large enterprises. Additionally, large enterprises are also in the forefront of digital transformation to improve operations and enhance process security; however, SMEs are witnessing huge growth in adopting advanced technology solutions such as consumer video feedback software by replacing traditional feedback solutions. The lack of awareness and trained resources to handle the advanced solutions at potential cost and high productivity, which has impacted negatively toward the adoption among SMEs. However, with the growing popularity of cloud-based consumer video feedback software, SMEs are increasing investing in such solutions, thereby offering a huge growth opportunity for the market players that are operating in the Europe consumer video feedback software market. Likewise, the growing trend of digital transformation among these enterprises to improve business processes by analyzing the data, enhancing productivity, and reducing costs, will further boost the adoption of consumer video feedback solutions and services among SMEs. This, in turn, will provide growth opportunities to the market players during the forecast period.
On basis of deployment, the Europe consumer video feedback software market is categorized as cloud and on-premises. In 2020, the cloud segment held the largest share Europe consumer video feedback software market. Based on end user, the market is segmented into FMCG, BFSI, electronics, IT and telecom, retail, hospitality, and other end users. In 2020, the FMCG segment held the largest share Europe consumer video feedback software market.
A few major primary and secondary sources referred to for preparing this report on the consumer video feedback software market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are FocusVision
The Europe Consumer Video Feedback Software Market is valued at US$ 398.59 Million in 2021, it is projected to reach US$ 638.02 Million by 2028.
As per our report Europe Consumer Video Feedback Software Market, the market size is valued at US$ 398.59 Million in 2021, projecting it to reach US$ 638.02 Million by 2028. This translates to a CAGR of approximately 7.0% during the forecast period.
The Europe Consumer Video Feedback Software Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Consumer Video Feedback Software Market report:
The Europe Consumer Video Feedback Software Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Consumer Video Feedback Software Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Consumer Video Feedback Software Market value chain can benefit from the information contained in a comprehensive market report.
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