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Marketing Research And Analysis Services Market Expansion Continues, with Forecast Valuation of $100.48 Billion by 2029
Marketing Research And Analysis Services Market
Marketing Research And Analysis Services Market Size Growth Forecast: What to Expect by 2025?
The market size for marketing research and analysis services has been showing consistent growth over recent years. It is expected to climb from $81.27 billion in 2024 up to $84.46 billion by 2025, corresponding to a compound annual growth rate (CAGR) of 3.9%. This upward trend during the historical period can be linked to the surge in research and development (R&D) investments, dynamic economic development in emerging markets, rising levels of internet accessibility, a surge in the utilization of big data, and swift urbanization.
How Will the Marketing Research And Analysis Services Market Size Evolve and Grow by 2029?
The forecast for the market size of marketing research and analysis services projects a consistent rise in the coming years, reaching a significant $100.48 billion by 2029 with a compound annual growth rate (CAGR) of 4.4%. This anticipated growth for the forecast phase is driven by several factors, including a surge in digitalization, growth in data-centric businesses, heightened emphasis on customer satisfaction, and increased demand for sampling. Key trends influencing this sector during the forecast period encompass utilizing artificial intelligence for enhanced, precise, and cost-efficient data collection, implementing agile market research methods, deploying virtual reality technology, focusing on revolutionary sampling techniques and methodology, deploying micro surveys for swift, real-time response acquisition, engaging in longitudinal research and tracking, prioritizing social listening, and using blockchain to elevate participation levels, enhance quality, and assuage privacy concerns.
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What Drivers Are Propelling the Growth of Marketing Research And Analysis Services Market Forward?
Businesses across different sectors are focusing their efforts on enhancing profit margins and broadening their consumer reach by prioritizing customer satisfaction. This approach is projected to be a significant momentum for the progression of the marketing research and analysis services industry in the upcoming years. Higher customer satisfaction results in greater revenues and profitability, alongside boosted customer retention rates. Marketing research and analytics assist businesses in achieving these objectives. For instance, marketing research enables businesses to comprehend their targeted customers, evaluate principal competitors, monitor customer satisfaction through several platforms, pinpoint areas that need enhancement in their enterprise, and restructure business strategies for better business performance.
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What Trends Will Shape the Marketing Research And Analysis Services Market Through 2029 and Beyond?
The use of artificial intelligence (AI) is a prominent development within the market research and analysis services industry. The rise in internet use has compelled companies to digitalize their products, leading consumers to depend heavily on reviews, consumer surveys, and questionnaires before buying. AI simplifies the task of field involvement for these tasks. Examples like Google Home, Amazon's Echo, and various chatbots demonstrate the surge in AI's influence over market analysis. AI significantly impacts market analysis growth by replacing traditional research methods such as surveys and qualitative analysis. It's also predicted that data scientists will have a significant part in companies, gathering critical insights about consumer behavior through AI technologies and social media platforms. Thus, artificial intelligence is expected to become increasingly popular in the marketing research and analysis services sector.
What Are the Key Segments in the Marketing Research And Analysis Services Market?
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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Who Are the Key Players Shaping the Marketing Research And Analysis Services Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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
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