Product Tour Software Market Size, Share, Growth, and Industry Analysis, By Type (Cloud-based and On-premises), By Application (SMEs and Large Enterprises) and Regional Insights and Forecast To 2032

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PRODUCT TOUR SOFTWARE MARKET REPORT OVERVIEW

The Product Tour Software Market size was valued at approximately USD 0.5 billion in 2023 and is expected to reach USD 1.2 billion by 2032, growing at a compound annual growth rate (CAGR) of about 10% from 2023 to 2032.

The market for Product Tour Software has been growing at an exponential growth rate as various businesses realize the importance of keeping improving the user onboarding journey. This software enables organizations to develop media guides, navigation tours and instructions that ease the usage of their sites or products to the users. Service factors include increase in SaaS adoption, need for superior usability, and hence, lower customer attrition by making both product and service easy to use by investing customers. Most industries such as the technology, e-commerce, and finance sectors are integrating product tour software in their industries with the main aim of improving on the training section of the onboarding programs and also making the experiences of the customer optimal.

Over the last few years, the market has gone through the phase of revolution where in new vendors introducing new improved features like guided tours, data analysis, AI and the ability to make on boarding more personal by changing the flow according to the use by the user. They are gradually becoming critical in the dynamic new economy that characterizes the current business environment, because they facilitate a better understanding of the consumers’ needs and a more persuasive presentation of why the purchased product is useful. It is foreseeing a further growth in the market with more attention on the user interfaces and the product tour software being complemented with other CRM and marketing automation tools.

COVID-19 IMPACT

"Increased Demand for Digital Solutions to Boost Market Growth Significantly"

The global COVID-19 pandemic has been unprecedented and staggering, with the product tour software 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.

Due to the outbreak of COVID-19, and with work moving online and online business becoming the new normal, companies required efficient means of onboarding and training their users remotely. Product tour application was required to assist customers and employees to get familiar with new technological tools in a short time without personal training.

COVID-19 magnified the demand for SaaS products in different market sectors because organizations needed to move to a cloud-based model. As a result, global product tour software market has risen steeply to help such new tools be adopted quickly and enable users to get the most from them. The market is anticipated to boost the product tour software market growth following the pandemic.

LATEST TRENDS

"Interactive and Gamified Onboarding to Drive Market Growth"

The application of Artificial Intelligence (AI) is being used in product tour software to help implement user experience. Through machine learning, the usage and involvement of any user with a certain product is enhanced by giving them relevant tours depending on their activity profile. As an incentive to capture users’ attention, firms are adding interactivity and gamification features to product tours. Things such as quizzes, rewards, and the opportunities to see our progress make the onboarding process even more engaging and thus more effective concerning the percentage of users completing them and knowledge retention. These latest developments are anticipated to boost theproduct tour software market share.

PRODUCT TOUR SOFTWARE MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Cloud-based and On-premises.

• Cloud-Based Product Tour Software: This category is installed on the vendor’s hardware and can be used only through the web browser. It is flexible, highly scalable and easy to deploy, allowing its user to build and control product tours from any place without having to own infrastructure. Saas solutions are widely used, especially, due to the opportunity to implement it very quickly, and costs significantly less than the installation of an on-premises solution, and moreover, it is usually updated automatically.

• On-Premises Product Tour Software: On-premises is deployed, procured, and run on the company’s own hardware and software framework. Hence it gives better control of data security and flexibility; well suited for industries that have regulatory compliance requirements or for those that require special configuration. However, it generally demands more substantial initial investments in hardware, technical staff and technical support on the regular basis.

By Application

Based on application the global market can be categorized into SMEs and Large Enterprises.

• SMEs (Small and Medium-Sized Enterprises): Product tour software is employed by the SMEs in order to minimize the customer support services since it helps users to get familiar with products easily. The software assists such businesses manage press and increase user satisfaction and loyalty with a relatively small budget, which gives them a fighting chance against larger companies. SMEs are also more inclined towards cloud-based solutions because are affordable to implement and use.

• Large Enterprises: Product tour software is used by large-scale businesses to implement and improve the onboarding process for numerous and diverse users, for operations that are international in character. Such companies need more sophisticated functions, like artificial intelligence-based personalisation or advanced data processing and compatibility with other applications used in a business. To enhance the scalability and data control solutions that are on-premises or exceptionally configurable cloud ones are chosen.

DRIVING FACTORS

"Increasing Focus on Customer Experience to Boost the Market"

As organizations turn their attention towards the need for providing the best customer experience, there is increased need for tools that will help to increase user experience right from the onset. Product tour software serves the purpose of giving the companies a way on how to give customers a proper and easy manner on how to start using the product and hence enhancing the customer satisfaction, while preventing churns. Consumers now demand persona interaction with the various digital product they come across. The market is being spurred by product tour software that incorporates AI and machine learning to help companies change the nature of production tour with customized information depending on how the user is using the software for onboarding.

"Shift to Remote Work and Digital Transformation to Expand the Market"

Another trend that has been brought to the forefront because of the pandemic is the flexibility of work and an increased use of online onboarding and training. Product tour software has thus emerged as a fundamental tool to aiding businesses move to digital in that it assists them in taking new users through their systems without actually having to train them physically. Techniques like no-code or low-coded applications give the products and the small to medium enterprises the abilities needed to create and use the product tour without the need to hire specialized programmers. Such democratization of product tour creation is leading to the market development as more people are provided with these tools. These factors are anticipated to drive theproduct tour software market share.

RESTRAINING FACTOR

"Limited Customization and Flexibility to Potentially Impede Market Growth"

It can be observed that some of the product tour software solutions can be rigid in terms of customization or flexible for some operations of businesses. If the software cannot be customized to suit or it does not merge well with other applications then the companies may go for other solutions or stick to non-automated onboarding which will put the market in check. Product tour software also requires the integration of different programs like the Customer Relationship Management (CRM) platforms, content management systems, or other SaaS tools, and when it comes to integration, it may take a lot of time. This complexity may mean that some firms are locked out of the possibility of using product tour solutions, especially if they do not possess the technical know-how of dealing with integration challenges.The factors are anticipated to hinder the growth of theproduct tour software market growth.

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PRODUCT TOUR SOFTWARE MARKET REGIONAL INSIGHTS

"North America is Dominating the Market with Strong Focus on Customer Experience and Early Adopters of Emerging Technologies"

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

Customer experience is one of the most significant values that is implemented and promoted by businesses across North America where numerous tools that improve users’ experience are invested in. Product tour software is used to deliver onboarding experiences that are engaging and relevant given its centrality to customer satisfaction enhancement and reduction of churn in the region. An increasing number of product tour software applications involve artificial intelligence/machine learning and allied technologies that have become industry standards for product development in North American companies. This early market adoption contributes greatly to the maturation of the market and it puts the region as one of the most developed in the industry. North America, especially the United States is a world’s most adopter of SaaS (Software as a Service) and cloud technologies. A strong business culture of technology use means that the product tour software is popular in this region because organizations must bring their users up to speed.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

The product tour software market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, materials, and smart features in product tour software, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Top Product Tour Software Companies

• Whatfix [India]
• UserPilot [Canada]
• Pendo [U.S.]
• Appcues [U.S.]
• Intercom [U.S.]

INDUSTRIAL DEVELOPMENT

June 2023: UserPilot 2. 0 released new options for building engaging product guides and onboarding flow. New in this update, enhanced segmentation and personalization features that give businesses ways to customize tours based on their visitors’ activities and interests. The upgrade provides additional statistics for the users’ activity and the efficiency of the occurring tours.

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.