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Marketing Research And Analysis Services Market Size Projected To Reach $99.44 Billion By 2034 With A Cagr Of 4.2%
Marketing Research And Analysis Services
What Is the Projected Growth of the Marketing Research And Analysis Services Market?
The market size for marketing research and analysis services has been consistently expanding over the past years. From 2024 to 2025, it is expected to increase from $81.32 billion to $84.37 billion, representing a compound annual growth rate (CAGR) of 3.7%. The historical growth is primarily due to enhanced spending on research and development (R&D), robust economic expansion in burgeoning markets, a rise in internet accessibility, heightened usage of big data, and swift urbanization.
Projections for the marketing research and analysis services market suggest a steady increase in size over the next few years. It is speculated to swell to a worth of $99.44 billion by 2029, expanding at a compound annual growth rate (CAGR) of 4.2%. The predicted growth in this period is likely due to the rise in digitalization, the growth of data-centric businesses, an intensified focus on customer satisfaction, and a higher demand for sampling. Some game-changing trends for the forecast period encompass the use of artificial intelligence for efficient, accurate, and cost-effective data gathering, the application of agile market research methodologies, investments in virtual reality technology, emphasis on innovative and advanced sampling techniques and methodologies, the use of micro surveys to attain rapid, real-time feedback from participants, the implementation of longitudinal research and monitoring, attention to social listening, and the exploitation of blockchain to amplify participation rates, enhance quality, and tackle privacy issues.
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What Are the Different Marketing Research And Analysis Services Market Segments?
The marketing research and analysis services market covered in this report is segmented -
1) By Type: Quantitative Research, Qualitative Research
2) By Research Source: Primary Research, Secondary Research
3) By End Use Industry: IT Services, Manufacturing, Financial Services, Construction, Healthcare, Other End Use Industries
Subsegments:
1) By Quantitative Research: Surveys And Questionnaires, Online Polls And Web-Based Research, Statistical Analysis And Data Mining
2) By Qualitative Research: Focus Groups And In-Depth Interviews, Ethnographic Studies And Observations, Content Analysis And Thematic Analysis
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What Are the Primary Drivers Shaping the Marketing Research And Analysis Services Market?
Firms across multiple sectors are keen on enhancing their profits and broadening their customer reach, and to achieve this, they are majorly focusing on customer gratification. This is anticipated to be a significant driving force for the growth of the marketing research and analysis sector in the forthcoming years. Higher customer contentment translates to increased revenue and profit margins, as well as superior customer retention rates. Marketing research and analysis are instrumental tools corporations use to achieve these objectives. For instance, marketing research aids businesses in comprehending their potential clients, assessing main rivals, monitoring customer satisfaction through various channels, pinpointing areas needing improvement, and reshaping business strategies to boost business performance.
Which Companies Are Leading in the Marketing Research And Analysis Services Market?
Major companies operating in the marketing research and analysis services market include Gartner, Inc, S&P Global Inc, Ipsos Group S.A., Moodys Corporation, GFK SE, Mintel, INTAGE Inc., Forrester Research Inc., GlobalData Plc, Global Vox Populi, Kantar IMRB, RNB Research, Market Xcel Data Matrix Private Limited, Majestic MRSS, Nielson, Hub of China, SIS International Research, Escalent, CIPMR, Adept Research, Tiny CX Freeform, Populix, Dataspring, Inkwood Research, Strategic Focus Research and Consultancy Ltd., QualWorld Asia, Acorn Marketing & Research Consultants Pte Ltd, Blackbox Research, My Source Solutions, Stitch Marketing Research, Dynamic Search Sdn. Bhd., Cardas Research & Consulting Sdn Bhd, The Research Alliance, Axanteus Research and Consumer Behavior Research Co., Ltd, Euromonitor International, IFF Research, Pharma Intelligence, Dunnhumby, AMR Advanced Market Research GmbH, Business Analytica, Ateliar Market Research, Inquiry Market research, MAP Marketing Research, MAGRAM Market Research, Prodege LLC, Westat, NPD Group, Inc., ORC International Inc., Dynata, IQVIA, Proactive Worldwide, Comscore, Information Resources, Inc., Bauman Research & Consulting LLC, Datum Internacional S.A., StatMark Group S.A., Brazil Market research, Ad hoc research and al bar research, C&O Marketing, Insight Scouts Research & Consultancy
What Trends Are Expected to Dominate the Marketing Research And Analysis Services Market in the Next 5 Years?
The prominence of artificial intelligence in the field of market research and analysis services is rapidly increasing. The surge in internet usage is compelling businesses to offer their products on digital platforms. Prior to purchases, customers depend on reviews, customer surveys, and questionnaires. AI technology is simplifying the process of field engagement for these applications. Examples such as Google Home, Amazon's Echo, and other chatbots highlight the growing impact of AI in market research. Artificial intelligence is revolutionizing market analysis by phasing out conventional research methods, such as surveys and qualitative research. Furthermore, data scientists are projected to have a significant impact in companies by extracting valuable consumer behaviour insights using AI tools and social media platforms. Hence, artificial intelligence is expected to become increasingly popular in the field of marketing research and analysis services.
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What Are the Top Revenue-Generating Geographies in the Marketing Research And Analysis Services Market?
North America was the largest region in the marketing research and analysis services market in 2024. Western Europe was the second largest region in the marketing research and analysis services market share. The regions covered in the marketing research and analysis services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Marketing Research And Analysis Services Market?
2. What is the CAGR expected in the Marketing Research And Analysis Services Market?
3. What Are the Key Innovations Transforming the Marketing Research And Analysis Services Industry?
4. Which Region Is Leading the Marketing Research And Analysis Services Market?
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