Report : North America Consumer Video Feedback Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Deployment (Cloud and On Premise) and End User (FMCG, BFSI, Electronics, IT and Telecom, Retail, Hospitality, and Other End Users)
Cloud Segment to Dominate North America Consumer Video Feedback Software Market during 2020–2028
According to a new market research study on “North America Consumer Video Feedback Software Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Deployment and End User,” is expected to reach US$ 915.92 million by 2028 from US$ 535.53 million in 2021. The market is estimated to grow at a CAGR of 8.0% from 2021 to 2028. The report provides trends prevailing in the North America consumer video feedback software market along with the drivers and restraints pertaining to the market growth. Rising requirement for data driven solutions for enhanced decision-making are the major factor driving the growth of the North America consumer video feedback software market. However, lack of adoption in developing countries hinder the growth of North America consumer video feedback software market.
North America is one of the leading regions in terms of the development and adoption of new technologies; this is mainly owing to favorable government policies that boost innovation and strengthen the infrastructure capabilities. Hence, any impact on the growth of industrial sector hampers the economic growth of the region. Presently, the US is the world’s worst-affected country due to COVID-19 outbreak. Retail stores were affected severely in 2020 due to the pandemic. According to the real estate firm, CoStar Group, as many as 12,000 stores were temporarily shut in the US in 2020; J.C. Penney and GameStop were among the key retail brands that closed their stores in 2020. A similar trend was visible in the hospitality industry. However, the hospitality industry has been resilient in these times of the pandemic. Enterprises that were likely to implement consumer video feedback software in 2020 had to either delay the implementation plan or scrap it completely, thereby impacting the demand for this software. However, with the economic activities regaining their pace, the demand for consumer video feedback software is expected to rise
The North America consumer video feedback software market is segmented on basis of parameters such as deployment, end users, and country. On basis of deployment, the North America consumer video feedback software market is categorized as cloud and on-premises. In 2020, the cloud segment held the largest share North America consumer video feedback software market. Based on end-users 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 North America consumer video feedback software market. On basis of country, the North America consumer video feedback software market is categorized as US, Canada, and Mexico. In 2020, the US held the largest share North America consumer video feedback software market.
Discuss.io; dscout, Inc.; FocusVision; Medallia Inc.; Phonic Inc.; Product Peel, Inc.; Qualtrics; Typeform; UserTesting; and Voxpopme; are among the leading companies in the North America consumer video feedback software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Confirmit and FocusVision, two of the world's leading research technology businesses, have successfully completed their merger.
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