Press release
Role Of Stable Economic Growth In Informed Decision-Making: A Key Factor Shaping the Future of the Market Research Services Market in 2025
Market Research Services
The anticipated steady economic development is set to fuel the expansion of the market research services sector. The term 'sustainable economic growth' pertains to economic progress that strives to meet human needs while preserving the environment and natural resources. Market research services can assist companies in pinpointing market trends and consumer actions, aiding them in taking knowledgeable decisions about their offerings. This can ensure businesses remain competitive and capable of adapting to market variations, thereby paving the way for steady economic growth. For example, the U.S. Bureau of Economic Analysis (BEA), a government body based in the United States, reported that the actual gross domestic product (GDP) saw a yearly enhancement of 2.1 percent in the US during the second quarter of 2023. As such, steady economic growth is fuelling the expansion of the market research services sector.
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What is the projected compound annual growth rate (CAGR) of the market research services market from 2025 to 2034, and what factors influence it?
The size of the market research services market has seen a consistent growth in the past few years. The market, which was worth $90.02 billion in 2024, is projected to expand to $93.29 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 3.6%. The surge witnessed in the historical period can be credited to an increase in R&D investments, the prevalence of political opinion polls, robust economic advancement in developing markets, enhanced internet accessibility, and a heightened cognizance of market research in end-use industries.
The anticipated steady rise in the market size for market research services within the next few years is good news, with projected growth set to reach $109.67 billion in 2029, boasting a compound annual growth rate (CAGR) of 4.1%. The escalation during the forecast period can be linked to a heightened emphasis on client satisfaction, outsourcing of backend operations to more affordable economies, a surge in demand for opinion polls, and a rise in data-centric business operations. Noteworthy trends during this forecast period include the integration of innovative technology such as eye-tracking, the utilization of agile market research methodologies, use of experimental research tools, a shift from traditional surveys to micro surveys, investments in virtual technologies, application of artificial intelligence, automation of research tasks, implementation of blockchain technology, and the consideration of chatbots to boost efficiency.
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What new trends are reshaping the market research services market and its opportunities?
Leading firms in the market research services field are embracing the use of AI-powered real-time research platforms like Meta AI to improve user interactions. This new assistant, which functions as a personal interactant, is accessible through WhatsApp, Messenger, and Instagram. Meta Platforms Inc., a US tech enterprise, released Meta AI in September 2023. This tool uses a purpose-built model that applies technology from Llama 2 and the most recent extensive language model (LLM) research. When engaged in text-based dialogues, Meta AI can obtain real-time data through its alliance with Bing search and also offers an image generation feature.
What are the major segments of the market research services market and their role in driving growth?
The market research services market covered in this report is segmented -
1) By Type: Marketing Research And Analysis Services, Public Opinion And Election Polling
2) By End Use Industry: FMCG, Media, Healthcare & Life Science, Professional Services, Others
Subsegments:
1) By Marketing Research And Analysis Services: Consumer Research And Behavior Analysis, Brand Perception And Awareness Studies, Product Testing And Development Research
2) By Public Opinion And Election Polling: Political Polling And Survey Services, Public Opinion Studies On Social Issues, Election Forecast Modeling And Analysis
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Which regions are key players in the growth of the market research services market?
North America was the largest region in the market research services market in 2024. Western Europe was the second largest region in the market research services market. The regions covered in the market research services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the market research services market?
Major companies operating in the market research services market include Nielsen Holdings Inc., IQVIA Holdings Inc., Gartner, Kantar Group, Ipsos Group S.A., GfK SE, Information Resources, Inc., Dynata, INTAGE Holdings Inc., Westat Inc., Global Vox Populi, RNB Research, Market Xcel Data Matrix Private Limited, Majestic MRSS, Hub of China, SIS International Research, Escalent (formerly Morpace), CIPMR, Adept Research, Tiny CX Freeform, Populix, Dataspring, Inkwood Research, Consumer Behavior Research Co., Ltd (CBR), Euromonitor International, IFF Research, Pharma Intelligence, Mintel, Dunnhumby, AMR Advanced Market Research GmbH, Wood Mackenzie, VCIOM (Russian Public Opinion Research Center), Business Analytica, Ateliar Market Research, Inquiry Market research, MAP Marketing Research, MAGRAM Market Research, Prodege LLC, The NPD Group, Inc., Forrester Research, ORC International Inc., Proactive Worldwide, Comscore, Stitch Marketing Research, Bauman Research & Consulting, LLC, Criba Research SA, Fine Research, AG3 Consulting, OnTarget, Arellano, Datum Internacional S.A., StatMark Group S.A., Brazil Market research, Ad hoc research, Al bar research, Inverita research, Eksen Research, C&O Marketing, Insight Scouts Research & Consultancy, Research & Consulting House (REACH), 4sight, Amass Market Research, Synergy Marketing and Consulting, Brandman Research, Geocartography Knowledge Group, ERA Research & Consultancy, Research Konnection, IVC Research Center, Omnibus, Sixth factor, Nagy Research MEACRO, Acnielsen Marketing & Media (Pty) Ltd., NOI Polls Limited, George, Klein and Associates (GK&A), BMI Research (Pty) Ltd, Plus 94 Research, African Response, Ley Hausen.
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What Is Covered In The Market Research Services Global Market Report?
• Market Size Forecast: Examine the market research services market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the market research services market for a structured understanding.
• Key Players Overview: Analyze major players in the market research services market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the market research services market.
• Segment Contributions: Evaluate how different segments drive overall growth in the market research services market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the market research services market.
• Industry Challenges: Identify potential risks and obstacles affecting the market research services market.
• Competitive Landscape: Review strategic developments in the market research services market, including expansions, agreements, and new product launches.
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