User Experience (UX) Research Software Market is Projected to Grow at a CAGR of 11.9% during the Forecast Period

MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global User Experience (UX) Research Software Market.

Market Overview

Global User Experience (UX) Research Software Market is projected to register a CAGR of 11.9% during the forecast period, 2023–2030. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years.

Global User Experience (UX) Research Software Market is expected to witness favorable growth during the forecast period. Factors such as the growth of online commerce businesses and the increasing adoption of mobile marketing are expected to drive the market during the study period. The increased influence of digital transformation creates a growth opportunity for the user experience (UX) research software market. However, network security issues are likely to restrain the growth of the global market.

Segmental Analysis

Global User Experience (UX) Research Software Market has been segmented based on Type, Application, and Region.

Based on type, the user experience (UX) research software market has been divided into cloud and on-premises. The cloud segment accounted for the larger market value in 2019, reaching a value of USD 107.2 million; it is expected to register a CAGR of 13.3% during the forecast period. The on-premises segment was valued at USD 76.6 million; it is projected to register a higher CAGR of 9.5%. The cloud possesses the capability to run large applications without the requirement of a supercomputer or a data center. The cloud applications are powerful and scalable and possess flexible pricing to attract various enterprises to move to the cloud. Cloud-based deployment is an emerging trend in UX research software. However, on-premises deployment is considered a safe and reachable alternative for several enterprises. One of the major advantages of on-premises deployment over the cloud is that it is highly secured against cyber-attacks and security breaches.

Based on application, the user experience (UX) research software market has been segmented into large enterprises and SMEs. The large enterprises segment held a larger market share in 2019, with a market value of USD 136.2 million; it is expected to register a CAGR of 10.1% during the forecast period. The SMEs segment was the second-largest market in 2019, valued at USD 47.6 million; it is projected to register a 15.8% CAGR. The adoption of the UX research software for large enterprises is comparatively more as compared to SMEs. Large enterprises adopt the software to boost their marketing activities and gain more customers. SMEs are increasingly using UX research and investing in the technology to identify and prove or disprove their assumptions, find commonalities across their target audience members, and recognize the audience's needs, goals, and mental models.

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).

Regional Analysis

The regional analysis for the global user experience (UX) research software has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. In 2019, North America accounted for the largest market share and it is expected to register notable growth during the study period. The Asia-Pacific market is expected to register the highest CAGR during the forecast period. This growth can be attributed to the increasing demand for automated solutions across various industry verticals.