Feedback and Reviews Management Software Global Market Report 2024

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 increase observed during the historical period can be ascribed to the emergence of online review platforms, the increasing acknowledgment of the significance of reputation management for businesses spanning various industries, the growing demand for software solutions facilitating customer engagement, heightened competition, and enhanced 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 $26.9 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The anticipated growth in the forecast period can be attributed to the expansion of omnichannel feedback collection methods, a heightened emphasis on real-time feedback collection and analysis, an increased demand for actionable insights, a growing focus on personalization in customer experiences, and an intensified emphasis on reputation monitoring and management. Key trends expected during this period encompass the adoption of AI and ML technologies, the integration of real-time feedback analysis capabilities, integration with customer relationship management (CRM) and customer experience (CX) platforms, and a focus on personalization in customer experiences.

The rapid expansion of the e-commerce industry is expected to drive the growth of the feedback and reviews management software market in the foreseeable future. The e-commerce sector encompasses commercial transactions conducted electronically, primarily over the Internet. This expansion is fueled by increasing Internet penetration, evolving consumer preferences, and the globalization of markets. Feedback and review management software enriches online and e-commerce platforms by offering businesses valuable insights into customer satisfaction, enabling them to enhance products, services, and the overall user experience. For example, in February 2024, according to the United States Census Bureau, total US e-commerce sales in 2023 reached an estimated$1.11 trillion, marking a significant increase of 7.6% (±1.2%) compared to 2022 figures. Additionally, e-commerce sales in the US accounted for 15.4% of total sales in 2023, up from 14.7% in 2022. Hence, the expansion of the e-commerce industry is a driving force behind the growth of the feedback and reviews management software market.

Key players in the feedback and reviews management software market are concentrating on developing advanced technological solutions, such as online review management platforms, to bolster their presence and revenues in the market. An online review management platform is a software solution tailored to assist businesses in monitoring, managing, and responding to customer reviews and feedback across various online platforms and review websites. For instance, in May 2024, GINIX, a UK-based provider of online review management solutions, introduced its innovative online review management platform specifically tailored for IT companies. GINIX offers a comprehensive suite of technologies enabling IT organizations to actively manage their online reputations through effective monitoring, analysis, and interaction techniques. This cutting-edge software ensures businesses respond promptly to new evaluations, fostering positive feedback while providing precise statistics to surpass competitors.

In May 2022, DISQO Inc., a US-based customer experience (CX) platform company, acquired Feedback Loop Inc. for an undisclosed sum. This acquisition is aimed at enhancing DISQO's customer experience platform by integrating Feedback Loop's agile consumer feedback technology. It enables DISQO to provide swift and seamless consumer feedback solutions for product and marketing professionals, from early-stage discovery to ideation and design. Feedback Loop Inc. specializes in providing software solutions for managing customer feedback, product concept testing, and review management.

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.

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. The countries covered in the feedback and reviews management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Feedback and review management software are digital solutions tailored to collect, analyze, and respond to customer feedback and reviews across diverse online platforms. These tools empower businesses to monitor customer sentiment, extract actionable insights, and interact with customers to enhance their experiences and reputation.

The primary types of feedback and review management software comprise customer, employee, and client feedback management systems. Customer feedback management pertains to individuals or entities purchasing goods or services from a business. These software applications are available in various deployment modes, including cloud-based and on-premise solutions, catering to both large enterprises and small and medium-sized enterprises (SMEs). They find utility across numerous industry verticals, including banking, financial services, and insurance (BFSI), government and public sectors, retail and e-commerce, travel and hospitality, education, healthcare and life sciences, IT and telecom, among others.

The feedback and reviews management software market research report is one of a series of new reports that provides feedback and reviews management software market statistics, including the feedback and reviews management software industry global market size, regional shares, competitors with feedback and reviews management software market share, detailed feedback and reviews management software market segments, market trends, and opportunities, and any further data you may need to thrive in the feedback and reviews management software industry. This feedback and reviews management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The feedback and review management software market includes revenues earned by entities by providing services such as sentiment analysis, reporting and analytics, moderation and filtering, and feedback collection. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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