Public Opinion Monitoring System Market Size, Share, Growth, and Industry Analysis, By Type (Cloud Services & Client-side Services), By Application (Software Development & Estate Development) and Regional Insights and Forecast to 2032

• 

   Request a Free Sample To Get More Information on this Market

PUBLIC OPINION MONITORING SYSTEM MARKET REPORT OVERVIEW

The Public Opinion Monitoring System Market size was valued at approximately USD 2.9 billion in 2023 and is expected to reach USD 5.4 billion by 2032, growing at a compound annual growth rate (CAGR) of about 7.4% from 2024 to 2032.

The public opinion monitoring system market is expanding rapidly over the years as many organizations and governments focus on public opinion for their decision-making process. The use of these systems involves the employment of sophisticated technologies such as AI and machine learning to scour social media and news, among other sources, to determine public sentiment. The use of public opinion monitoring systems aids in the establishment of an organization’s understanding of public opinion, strengthening of the organization’s objectives and planning processes, and controlling of risks associated with organizational reputation. The requirements for such systems are derived from the requirement for now information and the increasing significance of digital interaction. For this reason, the market growth rate is projected to increase in the following years.

COVID-19 Impact: Market Growth during Pandemic due to Real-time Insights

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The growth of the public opinion monitoring system market was greatly attributed to the COVID-19 pandemic, as organizations and governments concerned with public opinion had to gain real-time data during the pandemic. Because ofthe concerns of the public, misinformation that people received, and their adherence to measures such as wearing masks, the need for these systems was justified. It therefore brought large-scale purchasing of sophisticated monitoring technologies that can still be seen to be driving the market even after COVID-19 as the stakeholders acknowledge the importance of constant public sentiment analysis.

LATEST TRENDS

"Technology boosts market growth by enhancing accurate public sentiment analysis"

Some of the trends that the public opinion monitoring system market has been going through include the inclusion of AI and machine learning, the use of big data and data analytics, and real-time sentiment analysis. One of the observable trends is that of the natural language processing (NLP) technology that improves the capacities of accurately identifying and analyzing sentiments from various data sources. This trend is leading to faster, more accurate, and relevant information that will help manage an organization better. Thus, it can be noted that with the advancement of the NLP technology, this area of the monitoring of public opinions has become more significant.

PUBLIC OPINION MONITORING SYSTEM MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Cloud Services & Client-side Services

• Cloud Services: Public opinion monitoring through cloud-based systems provides a flexible and efficient integrated system that provides an organization with real-time data and analysis. They offer lower cost, and the solutions have high flexibility and require little or no infrastructure. This type has become overwhelming popular for implementation because of its flexibility to integrate into other systems as well as constant software enhancements.

• Client-side Services: Client-side services are the customized actionable solutions that are hosted on the organization's own server, offering better control over data and security. These systems are perfect for organizations that have some particular laws relating to data privacy and for organizations that might need some special features. They have the potential to be more expensive in comparison with the traditional ones, but they provide increased possibilities for fine tuning and data security.

By Application

Based on application the global market can be categorized into Software Development & Estate Development

• Software Development: In the field of software development, the monitoring of public opinion somehow makes the developers assess the opinion of the users and direct them towards feature modifications as well as new product creation. Such systems help in knowing the type of feedback or sentiments that the users have towards various products and services, hence enabling firms to meet market needs. Understanding trends and the feedback of the users allows developers to provide a better user experience, thus improving customers’ satisfaction.

• Estate Development: The estate development utilizes the public opinion monitoring system that helps to determine the feelings and the wishes of the public as far as several new projects are concerned. It enables developers to know the cultures, attitudes, or expectations of the local people, hence improving planning and managing stakeholders. This way, developers are able to manage risk factors, enhance communication with the public, and specifically address their needs and wants in a more efficient manner.

DRIVING FACTORS

"Demand for timely public sentiment analysis drives global market growth"

Companies and governments are now more and more demanding timely information about the attitudes of the population in order to react to the emerging problems and situations. Many issues came to light with the emergence of COVID-19, one of which was figuring out the general mood of the public to better regulate its actions and responses. This demand is pushing organizations to embrace better public opinion monitoring systems resulting global Public Opinion Monitoring System Market growth.

"AI and machine learning technologies enhance market growth through improved analysis"

Employing the AI and machine learning technologies in POXM means that a larger amount of data from different sources, including social media and news outlets, can be analyzed in a more effective manner. Such developments improve the capacity to identify patterns and trends concerning the sentiments of the public. These technologies advance and further support the expansion of the market by presenting better analysis-related features.

RESTRAINING FACTORS

"Data privacy concerns may hinder market growth due to regulatory challenges"

One of the most effective threats to the growth of the public opinion monitoring system market is the issue of data privacy and security. Due to growing concerns on regulation and increased awareness on issues to do with data privacy, there are issues that organizations encounter while getting data and analyzing it to correspond to individuals’ privacy legislation. This may in a way hinder the expansion and use of these monitoring systems.

PUBLIC OPINION MONITORING SYSTEM MARKET REGIONAL INSIGHTS

"North America dominate market advanced tech and high demand drive market growth"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America holds the largest public opinion monitoring system market share owing to advanced technology adoption and high use of AI and big data. The market has a large number of reputed market players and has a high demand from government institutions and business and media houses, which are fueling the growth of the market. Further, the consideration of real-time public sentiment analysis and increasing emphasis on regulatory compliance also add to North America’s strong position in this segment.

KEY INDUSTRY PLAYERS

"Key industry leaders drive market growth through AI investments and innovations"

The leaders of the key industries in the sphere of the public opinion monitoring system market continue investing in extensive technologies such as artificial intelligence and machine learning for increasing the efficiency of data processing. They are also increasing their range of services, entering into new collaborations, and adapting to meet customers’ needs while acquiring more precise and useful data, which affects markets and maintains competitiveness.

List of Top Public Opinion Monitoring System Companies

• Xalted (India)
• YiFang (Taiwan)
• Red Wheat (U.S)
• Civiw (U.S)
• Knowlesys (U.S)

INDUSTRIAL DEVELOPMENT

July 2024, Brandwatch, an AI-based digital consumer intelligence firm, released Brandwatch Vision, another enhanced AI system for monitoring public sentiments of brands in the consumer market based on machine learning algorithms capable of analyzing images and text data from social media and news feeds. It advances Brandwatch’s capacity to better gather and provide more precise public opinions to its clients.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.