Consumer Survey Analysis: Revolutionizing User Experience
Cutting-edge UI/UX Survey for Enhanced Consumer Satisfaction
July 2023
70
About the Report
About the Report
Market Overview:
UX/UI is a trending software, which is used for providing better interface for smooth navigation in mobile apps. Apps in Fintech are especially in need for better customer experience. The major Trending technological advancements like Augmented Reality (AR) Virtual Reality (VR) Voice UI and AI technology etc. made it accessible. Major companies operating in micro lending loan apps has a great optimization features for UX/UI, which are much, needed like user-centered design etc.
Adherence to UI/UX laws and principles is strongly recommended. Here are three essential laws: Hick's Law: Simplify the user interface and reduce decision-making time by limiting the number of choices available. Fitts's Law: Design interactive elements in a way that gives ease of use, considering factors such as size and distance, to enhance user interaction. Goal Gradient Effect: Leverage the psychological tendency for users to be motivated by nearing completion to encourage engagement and progress within the app.
UX/UI Survey Analysis
- The major growth factors of UX/UI market are the heavy demand of users on types of enterprises like small, medium and big. Between 2021 and 2022, there were ~34 million more internet users in India.
- The second-largest IM service users and the most significant social media users worldwide are found in India.
- Apps like True balance has been in demand for simple personal loans for small amount. India has emerged as the world's third-largest fintech market.
Competitive Landscape:
At present, over 2,200 companies are operating in the fintech segment in India. Companies offer customers the easy acess for personal loans by applying on their respective apps. Companies usually took keen interest in betterment of UX/UI softwares in their apps. Apps like Kreditbee, CashE, StashFin and True balance. Majority of the Micro lending Loan App companies are majorily working on their UX/UI lookout. The True Balance app received better average rating for visual appeal, indicating that respondents found its design and interface to be pleasing. Other apps like Kreditbee and StashFin are also working for better customer base.
Recent Developments:
- Trending technical upgrades is making UX/UI easily accessible and in making smooth interface. Like in AR is a great start. Using body and face tracking, as well as advanced scene depth sensing, companies are already working on camera filters that accomplish this.
- Also, Artificial intelligence powers facial and spatial recognition software needed for AR to function. AR and AI solutions can work together to provide innovative solutions.
- Major micro loan providing players are doing surveys of various customers, which are users of various loan apps for better quality of feedback on which they could work on in the future.
Scope Of The Report
Scope of the Report
- Insights on KreditBee and True Balance (Frequency of app usage, Visual appeal of the app, Content loading speed, Experience of bugs or glitches, User-friendliness, etc.)
- Insights on Stashfin and CASHe (Frequency of app usage, Visual appeal of the app, Content loading speed, Experience of bugs or glitches, User-friendliness, etc.)
- Audit analysis of various phases of UX/UI which is useable in applications like true balance.
- Competitive analysis of various applications and player swhich are used in the report with deep dive in their positives and negatives.
- The key recommendations for improvement have been highlighted, and their priority/importance is indicated by a meter located in the bottom-right corner.
Products
Products
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:
- Bank Companies
- Third-Party Loan Providers
- Potential Market Entrants
- UX/UI design service Companies
- Personal loan service Companies
- User interface developing companies
- Industry Associations
- Consulting Agencies
- Government Bodies & Regulating Authorities
Time Period Captured in the Report:
- Year of Survey: 2023
Companies
Major Players Mentioned in the Report:
Personal loan application Players
- True balance
- Kreditbee
- CashE
- StashFin
Table of Contents
Table of Contents
1. Executive Summary
1.1 Executive Summary: True Balance Ui/Ux Project
2. App Overview: KreditBee, True Balance, CASHe, and Stashfin
2.1 Overview of Kreditbee and True balance (Ratings, downloads, reviews, rankings, and Highlighted features of the apps)
2.2 Overview of Stashfin and CASHe (Ratings, downloads, reviews, rankings, and Highlighted features of the apps)
3. Survey Findings: Insights on the KreditBee, True Balance, Stashfin, and CASHe App
3.1 Insights on KreditBee and True Balance (Frequency of app usage, Visual appeal of the app, Content loading speed, Experience of bugs or glitches, User-friendliness, etc.)
3.2 Insights on Stashfin and CASHe (Frequency of app usage, Visual appeal of the app, Content loading speed, Experience of bugs or glitches, User-friendliness, etc.)
4. Ui/Ux Audit and Competitive Analysis
4.1 Ui/Ux Audit on 8 Different Parameters
4.2 Competitive Analysis on 9 Different Parameters
4.3 Comparison of Visual Appeal Across Four Apps
4.4 Best UI/UX Practices by KreditBee, Stashfin, and CASHe
4.5 Suboptimal UI/UX Practices by KreditBee, Stashfin, and CASHe
5. Key UI/UX Recommendations for True Balance App
5.1 Key Recommendations Parameters to Optimize True Balance UI/UX for a better User Experience
5.2 User-Centered Design and Visual Hierarchy
5.3 Navigation and Information Architecture and Simplicity and Minimalism
5.4 Recommendations, User Guidance and Accessibility and Inclusivity
6. Subjective Interview Findings and App Glitches/Errors and Essential Principles and UI/UX Theories to Consider
6.1 True Balance App Glitches/Errors
6.2 Hick’s Law
6.3 Fitt’s Law
6.4 The Goal-Gradient Effect
7. Research Methodology
7.1 Market Definitions and Assumptions
7.2 Survey – Steps Involved in Conducting Survey
7.3 Survey – Research Approach
7.4 Sample Questions – Survey
Disclaimer
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Research Methodology
Research Methodology
Step: 1 Identifying Key Variables:
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.
Step: 2 Market Building:
Collating statistics on UX/UI over the years, penetration of marketplaces and service providers ratio to compute revenue generated for services. We will also review service quality statistics to understand revenue generated which can ensure accuracy behind the data points shared.
Step: 3 Validating and Finalizing:
Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.
Step: 4 Research output:
Our team has approached multiple UI UX service providing channels and understand nature of product segments and sales, consumer preference and other parameters, which supported us validate statistics derived through bottom to top approach from UI UX service providers.
Frequently Asked Questions
Frequently Asked Questions
01 What are the major technological advancements in UI/UX market?
The major technological advancements are Augmented Reality (AR) Virtual Reality (VR) Voice UI and AI technology.
02 What are the growth drivers of UX/UI market?
The major driver in the UX/UI market are the heavy demand of users on types of enterprises like small, medium and big.
03 Which are the major players in UX/UI market in India ?
The major players are True balance, Kreditbee, CashE and StashFin whoich are majorly operating in the mARKET.
04 Which UI/UX laws and principles are recommended in the market?
The major laws which are focused while adhereing the market are THE Hick's Laws, Fitts's Law and Goal Gradient Effect.
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