Customer Feedback Devices Market Scope
Customer feedback is an essential component of every successful company relationship. As a result, gathering consumer input should be at the heart of any customer experience (CX) initiative. Customer feedback is essential because it informs a firm about what its customers are thinking, feeling, and experiencing when they interact with it. The firm may then utilize this data to make more informed, customer-focused decisions. Customer feedback devices are used to collect feedback from customers to get an idea about what they are thinking about the product or service. North America and Europe are the largest markets of customer feedback devices followed by the Asia Pacific.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | FeedbackNow (Switzerland), EMSE A.S. (Chile), QMETRIX (Canada), Shenzhen Jiatean Technology Company (China), Shenzhen Yu Chuang Xing Ye Technology Company (China), Guangzhou Ideal Running Technology (China), Madbee Mobility Solutions Private Limited (India), Raivens Technologies Private Limited (India), RMAX Technologies (India) and Signal Circuits Private Limited (India) |
CAGR | % |
Players in this market are primarily small to medium companies that offer electronic devices to businesses. The increasing prevalence of online feedback collection is the major challenge in front of this industry as services like google offer review functionality. Innovation is necessary to survive in this market. The market is fragmented and does not have any distinct leader.
FeedbackNow (Switzerland), EMSE A.S. (Chile), QMETRIX (Canada), Shenzhen Jiatean Technology Company (China), Shenzhen Yu Chuang Xing Ye Technology Company (China), Guangzhou Ideal Running Technology (China), Madbee Mobility Solutions Private Limited (India), Raivens Technologies Private Limited (India), RMAX Technologies (India) and Signal Circuits Private Limited (India) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Customer Feedback Devices market by Type , by Application (Airports, Stations, Malls, Hotels and Others) and Region with country level break-up.
On the basis of geography, the market of Customer Feedback Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In October 2023, Touchpoint announced a partnership with Qualtrics, a leading provider of cloud-based customer experience management (CXM) software. The partnership will integrate Touchpoint's customer feedback devices with Qualtrics' CXM platform, enabling businesses to collect real-time customer feedback and analyze it alongside their other CX data.
In October 2023, Touchpoint has launched new customer device . The device boasts a user-friendly touch-screen interface, supports multiple languages, and enables feedback collection on a wide range of topics. The device's sleek and modern design seamlessly integrates into retail environments, encouraging customers to provide their valuable input.
Influencing Trend:
Introduction Of Touch-Screen Customer Feedback Devices
Market Growth Drivers:
Need Of Customer Feedback Devices to Collect the Feedback from Customers and Demand Of Customer Feedback Devices to Get Comments on The Service or Product Provided
Challenges:
Increasing Use of Online Customer Feedbacks and Many Customers May Not Be Willing to Give Feedback
Restraints:
Introduction Of Touch-Screen Customer Feedback Devices
Opportunities:
Growing Adoption of Customer Feedback Devices from Airports Will Boost Its Demand and Rise In Consumption of Customer Feedback Devices by Hospitality Industry Will Increase Its Demand
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Customer Feedback Devices Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations, End-Use Industries and Others