It is projected that in 2023, the adoption of enterprise feedback management systems in Korea could reach a total valuation of US$ 114.7 million. Furthermore, the nation's enterprise feedback management demand is expected to soar at an 8.9% CAGR over the next 10 years. According to our research report, by 2033, the adoption of enterprise feedback management systems is anticipated to bring in around US$ 266.0 million in revenue in Korea.
Key Insights on the Enterprise Feedback Management Sector of Korea
| Attributes | Details |
|---|---|
| Industry size of Korea in 2023 | US$ 114.7 million |
| Expected Industry Size of Korea by 2033 | US$ 266.0 million |
| Forecasted CAGR between 2023 to 2033 | 8.9% |
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The enterprise management industry in Korea is expected to witness a significant presence of large enterprises, exerting dominance over the sector during the forecast period. As of 2023, these large-scale corporations already command a substantial share of the industry, accounting for an impressive 61.2%. The growing adoption of enterprise feedback solutions in large corporations for the ability to automate resource allocation and strategic decision-making is a primary factor. This indicates that the industry is currently being driven by the activities and initiatives of these key players, who possess the capacity to implement sophisticated feedback management systems on a substantial scale.
| Enterprise Feedback Management in Korea based on Enterprise Size | Large Enterprises |
|---|---|
| Total Share (2023) | 61.2% |
Large businesses are common in this industry, which can be linked to their innate ability to invest in cutting-edge technology and solutions. As a result, they can fully utilize corporate feedback management to boost customer engagement, operational effectiveness, and overall performance. Their significant industry share indicates both their commitment to using cutting-edge procedures to keep a competitive advantage in Korea and their effect on the industry landscape.
Based on end user verticals that utilize enterprise feedback management solutions, the BFSI segment was figured out to leading demand generator in Korea. Given the complex nature of work in banking, financial services, and insurance firms, this segment is poised to garner higher traction in the coming days. The BFSI sector places a high priority on customer satisfaction and experience. As a result, these institutions can obtain important information from their customers directly by using feedback management solutions. As a result, companies can be better able to tailor their services and products to satisfy customer requirements.
| Enterprise Feedback Management in Korea based on End User Verticals | Banking, Financial Services, and Insurance (BFSI) Sector |
|---|---|
| Total Share (2023) | 22.7% |
The BFSI industry operates in a highly competitive environment where it is crucial to remain aware of customer demands and act quickly to address grievances. These organizations are given the means and capacities to accomplish exactly that by enterprise feedback management, assuring their agility and responsiveness in a constantly changing industry. Besides BFSI, the media and entertainment industry is a remarkably growing segment in Korea that is anticipated to boost the adoption in several media houses.
Principal Consultant
The demand for enterprise feedback management is relatively new in Korea, resulting in fewer service providers and less competition in the Korean landscape. The expansion of enterprise-wide digital transformation programs and the increasing integration of CRM software have opened up new opportunities for the feedback management system industry in Korea.
Many businesses in Korea are now placing emphasis on the development of cutting-edge enterprise feedback management technology solutions, such as real-time text and speech analytics capabilities. Therefore, the unrealized potential of this emerging economy combined with the growing use of artificial intelligence to enhance consumer interaction could lead to profitable development prospects.
Recent Developments in Enterprise Feedback Management in Korea
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | US$ 114.7 million |
| Projected Industry Size by 2033 | US$ 266.0 million |
| Anticipated CAGR between 2023 to 2033 | 8.9% CAGR |
| Historical Analysis of Demand for Enterprise Feedback Management in Korea | 2018 to 2022 |
| Demand Forecast for Enterprise Feedback Management in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Enterprise Feedback Management in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Korea Providers |
| Key Cities Profiled | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | K-Feedback; Znbox; Netizen Corporation; Prime Research; VOZGROW; CustomerGauge; FeedZ; GetFeedback; InMoment; Medallia; QuestionPro; Qualtrics; Survicate |
The anticipated CAGR for enterprise feedback management in Korea through 2033 is 8.9%.
Demand for enterprise feedback management in Korea is likely to be US$ 266.0 million by 2033.
Enterprise feedback management service providers in Korea are improving CX and refining products to boost sales.
Large Enterprises currently create higher demand in Korea with 61.2% revenue share in 2023.
BFSI sector currently garners 22.7% of total demand for enterprise feedback management in Korea.
1. Executive Summary
1.1. Korea Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.7. Regional Parent Market Outlook
4. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Solution
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Solution, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Solution, 2023 to 2033
5.3.1. (EFM) Suite
5.3.1.1. Cloud-based/Web-based
5.3.1.2. On-Premises
5.3.2. Services
5.3.2.1. Implementation & Integration
5.3.2.2. Consulting Services
5.3.2.3. Support & Maintenance
5.4. Y-o-Y Growth Trend Analysis By Solution, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Solution, 2023 to 2033
6. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Enterprise Size, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Enterprise Size, 2023 to 2033
6.3.1. SMEs
6.3.2. Large Enterprises
6.4. Y-o-Y Growth Trend Analysis By Enterprise Size, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Enterprise Size, 2023 to 2033
7. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Industry
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Industry, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Industry, 2023 to 2033
7.3.1. BFSI
7.3.2. Retail & CPG
7.3.3. IT & Telecom
7.3.4. Healthcare
7.3.5. Media & Entertainment
7.3.6. Travel & Hospitality
7.3.7. Government
7.3.8. Others
7.4. Y-o-Y Growth Trend Analysis By Industry, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Industry, 2023 to 2033
8. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
8.3.1. South Gyeongsang
8.3.2. North Jeolla
8.3.3. South Jeolla
8.3.4. Jeju
8.3.5. Rest of Korea
8.4. Market Attractiveness Analysis By Region
9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Solution
9.2.2. By Enterprise Size
9.2.3. By Industry
9.3. Market Attractiveness Analysis
9.3.1. By Solution
9.3.2. By Enterprise Size
9.3.3. By Industry
9.4. Key Takeaways
10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Solution
10.2.2. By Enterprise Size
10.2.3. By Industry
10.3. Market Attractiveness Analysis
10.3.1. By Solution
10.3.2. By Enterprise Size
10.3.3. By Industry
10.4. Key Takeaways
11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Solution
11.2.2. By Enterprise Size
11.2.3. By Industry
11.3. Market Attractiveness Analysis
11.3.1. By Solution
11.3.2. By Enterprise Size
11.3.3. By Industry
11.4. Key Takeaways
12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Solution
12.2.2. By Enterprise Size
12.2.3. By Industry
12.3. Market Attractiveness Analysis
12.3.1. By Solution
12.3.2. By Enterprise Size
12.3.3. By Industry
12.4. Key Takeaways
13. Rest of Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Solution
13.2.2. By Enterprise Size
13.2.3. By Industry
13.3. Market Attractiveness Analysis
13.3.1. By Solution
13.3.2. By Enterprise Size
13.3.3. By Industry
13.4. Key Takeaways
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Solution
14.3.3. By Enterprise Size
14.3.4. By Industry
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. IBM Corporation
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Verint Systems Inc.
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. MaritzCX
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. MirrorWave
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. Qualtrics, LLC
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. Ipsos SA
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. InMoment, Inc.
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. Cvent, Inc.
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. Confirmit, Inc.
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. Ambivista
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
Technology
July 2023
REP-GB-1573
342 pages
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Enterprise Feedback Management Industry Analysis in Korea
