Overview and Scope
Feedback and review management software refers to digital solutions designed to collect, analyze, and respond to customer feedback and reviews across various online platforms. These software tools enable businesses to monitor customer sentiment, gather actionable insights, and engage with customers to improve their experiences and reputation.
Sizing and Forecast
The feedback and reviews management software market size has grown rapidly in recent years. It will grow from $12.25 billion in 2023 to $14.32 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to the rise of online review platforms, growth in recognition of the importance of reputation management for businesses across various industries, rise in demand for software solutions that facilitate customer engagement, increase in competition, and rise in compliance with regulations and standards.
The feedback and reviews management software market size is expected to see rapid growth in the next few years. It will grow to $26.90 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to the expansion of omnichannel feedback collection methods, increasing emphasis on real-time feedback collection and analysis, rise in demand for actionable insights, increasing focus on personalization in customer experiences, and rise in emphasis on reputation monitoring and management. Major trends in the forecast period include the adoption of AI and ML technologies, the adoption of real-time feedback analysis capabilities, integration with customer relationship management (CRM) and customer experience (CX) platforms, and focus on personalization in customer experiences.
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Segmentation & Regional Insights
The feedback and reviews management software market covered in this report is segmented –
1) By Type: Customer, Employee, Client
2) By Deployment Mode: Cloud-Based, On-Premise
3) By Application: Large Enterprises, Small And Medium Sized Enterprises (SMEs)
4) By Industry Vertical: Banking, Financial Services, and Insurance (BFSI), Government And Public Sector, Retail And E-Commerce, Travel And Hospitality, Education, Healthcare And Life Sciences, IT And Telecom, Other Industry Vertical
North America was the largest region in the feedback and reviews management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the feedback and reviews management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The expansion of the e-commerce industry is expected to propel the growth of the feedback and reviews management software market going forward. The e-commerce industry refers to the sector of the economy that focuses on conducting commercial transactions electronically, primarily over the Internet. The expansion of the e-commerce industry can be attributed to increasing Internet penetration, changing consumer preferences, and the globalization of markets. Feedback and review management software enhances online and e-commerce platforms by providing businesses with valuable insights into customer satisfaction, helping them improve products, services, and the overall user experience. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, total US e-commerce sales reached an estimated $1,118.7 billion in 2023. This marked a notable increase of 7.6% (±1.2%) compared to the figures recorded in 2022. Additionally, e-commerce sales in the US in 2023 accounted for 15.4% of total sales, up from 14.7% in 2022. Therefore, an expansion of the e-commerce industry is driving the growth of the feedback and reviews management software market.
Key Industry Players
Major companies operating in the feedback and reviews management software market are Qualtrics International Inc., Yext Inc., Semrush Holdings Inc., Birdeye Inc., Trustpilot Group plc, Podium Corporation Inc. , Reputation.com Inc., eKomi Holding GmbH, TrustRadius Inc., ReviewTrackers Inc., Listen360 Inc., CustomerGauge B.V., BrightLocal Services Ltd., PeerSpot Technologies, Customer Thermometer Ltd., Loopon AB, NiceJob Inc., ReviewPush, Grade.us LLC, ReputationStacker, Capterra Inc., ResellerRatings.com, Review Inc., BlueJay Reviews, Rize Reviews
The feedback and reviews management software market report table of contents includes:
1. Executive Summary
2. Feedback And Reviews Management Software Market Characteristics
3. Feedback And Reviews Management Software Market Trends And Strategies
4. Feedback And Reviews Management Software Market – Macro Economic Scenario
5. Global Feedback And Reviews Management Software Market Size and Growth
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32. Global Feedback And Reviews Management Software Market Competitive Benchmarking
33. Global Feedback And Reviews Management Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Feedback And Reviews Management Software Market
35. Feedback And Reviews Management Software Market Future Outlook and Potential Analysis
36. Appendix
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