
User Research Repositories Software Market Size worth $364.00 Mn, By 2028 - Exclusive Study by The Insight Partners
User Research Repositories Software Market Size Growth fueled by Use of AI and Automated Analytics by 2028
NEW YORK, UNITED STATES, March 14, 2022 /EINPresswire.com/ -- According to our latest market study on “User Research Repositories Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market is expected to grow from US$ 120.68 million in 2021 to US$ 364.00 million by 2028; and is estimated to grow at a CAGR of 17.1% from 2021 to 2028.
Market Size Value in - US$ 120.68 million in 2021
Market Size Value by - US$ 364.00 million by 2028
Growth rate - CAGR of 17.1% from 2021 to 2028
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages - 154
No. Tables - 63
No. of Charts & Figures - 76
Historical data available - Yes
Segments covered - Type and Application
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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The COVID-19 outbreak has moderately impacted the non-core sectors, such as IT and telecom, and eCommerce. Industry verticals such as healthcare and the public sector have been significantly adopting Customer Experience Management (CEM) solutions during the pandemic. As SMEs are the backbone of many economies worldwide, improvements in CEM are critical for ensuring user retention and satisfaction. Therefore, enterprises across the world are investing in product strategies focused on efficient engagement with their consumers and increasing sales. The rising need for a digital tools are likely to increase the amount of work delivered through digital engagement models based on collaboration tools and platforms. These developments due to the pandemic are expected to propel the deployments of cloud-based user research repositories software for storage and analysis of customer experience information, which would fuel the market growth during the forecast period.
Various well-resourced research teams in large enterprises, such as Microsoft, WeWork, and Nasdaq, have designed and developed their own in-house research repository systems. For instance, Microsoft’s research team has developed the Human Insight System (HITS) to allow researchers to find insights while retraining the context without losing the integrity of the data.
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Growing Adoption of Software to Streamline Research Process to Drive Market Growth during Forecast Period
Research repositories is a centralized place to store the research data and organize it for easy access. User research repositories software enables the research team to discover insights beyond single research studies, ensuring the consistency of research. The software facilitates the search and discoverability of research data, allowing cross-referencing and meta-studies. Also, it enables the researchers to incorporate multiple feedback sources, improving the research quality due to the broad inclusion of user perspectives. Furthermore, different steps in the research process, such as planning, taking notes, transcribing interviews, collecting highlights, analyzing gathered information, clustering information, translating information into insights, and preparing engaging and rich reports, involve a broad range of tools and contexts switches. The repositories software combines analysis and repository in a single tool and minimizes separate tool switches to reduce the research time and improve the result quality. Additionally, the software allows multi-disciplinary researchers or stakeholders to analyze research data collaboratively, both on-premises and remotely, leading to increased awareness for user research and better results through diverse views.
Players operating in the user research repositories software market are mainly focused on the development of advanced and efficient products.
• In 2021, Boulder-based Tetra Insights, a research operations platform, announced that it raised a US$5 million Series A round from Access Venture Partners. The investment will accelerate the company’s growth and development of its proprietary technology.
• In 2021, Productboard, a customer-centric product management platform that empowers teams to deliver the right products to market faster, announced that it raised US$72 million in Series C funding led by Tiger Global Management with participation from existing investors Index Ventures, Kleiner Perkins, Sequoia Capital, and Bessemer Venture Partners.
• In 2021, Zeroheight announced that it raised a US$ 10 million Series A funding round led by Tribe Capital, with participation from Adobe, Y Combinator, FundersClub, and Expa, as well as angel investors including Tom Preston-Werner (co-founder of GitHub), Bradley Horowitz (VP Product at Google), Irene Au (built and ran UX design for Google), and Nick Caldwell (VP Engineering at Twitter).
• In 2020, Experience Dynamics was awarded a Top 1000 Global company recognition by the independent Washington DC-based business to business rating company Clutch. The award adds Experience Dynamics to a list of global companies providing exceptional consulting services in digital transformation and user experience design.
• In 2019, USER partnered with Singapore University of Technology and Design to provide a free workshop on user experience and the Singapore market for Estonian, a creative design center for designs, entrepreneurs, and the public sector.
• In 2018, Fuel Cycle, a leading all-in-one market research solution, announced a new strategic partnership with UserZoom, a leading UX insights company in UX research and usability testing, to optimize research capabilities in user experience. UserZoom’s mission is to scale UX research through speed and automation, which carefully aligns with Fuel Cycle’s commitment to empower continuous research that is up-to-speed with the demanding and ever-changing global market.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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