The Marketing Research And Analysis Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Marketing Research And Analysis Services, The marketing research and analysis services market size has grown steadily in recent years. It will grow from $13.57 billion in 2023 to $13.97 billion in 2024 at a compound annual growth rate (CAGR) of 3.0%. The growth in the historic period can be attributed to rise in research and development (r&d) investments, strong economic growth in emerging markets, increased internet penetration, increase in consumption of big data and rapid urbanization
The marketing research and analysis services market size is expected to see steady growth in the next few years. It will grow to $15.64 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to increase in digitalization, increase in data driven businesses, increasing focus on customer satisfaction and increasing demand for sampling. Major trends in the forecast period include leveraging artificial intelligence for efficient, accurate and low-cost data collection, adopting agile market research methodologies to generate faster actionable data and insights, investing in virtual reality technology to understand customers’ decision-making process, focusing on innovative and advanced sampling techniques and methods, adopting micro surveys, to garner quick, real-time insights from respondents, adopting longitudinal research and tracking, focusing on social listening and leveraging blockchain to increase participation rates, improve quality and to address privacy concerns.
The companies operating in the various industries are concentrating on increasing profits and expanding their consumer base by focusing on customer satisfaction. This is likely to act as a major driver for the development of the marketing research and analysis services industry over the forthcoming years. Customer satisfaction leads to increased revenues and profitability, along with improved levels of customer retention. Marketing research and analysis help companies achieve these goals. For instance, marketing research helps companies to understand their target customers, access key competitors, track customer satisfaction across multiple channels, identify areas of improvement for their business, and redefine business strategies to improve the performance of the business.
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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
Artificial intelligence is a leading trend in the market research and analysis services industry. Increasing usage of the internet is forcing companies to make their products available online. Consumers rely on reviews, consumer surveys, and questionnaires before making a purchase. AI will ease the task of field engagement to perform these applications. For instance, Google Home, Amazon’s Echo, and other chatbots are creating a wave of artificial intelligence (AI) in market analysis. Artificial intelligence is significantly contributing to the growth of market analysis by eliminating the traditional research methods, including surveys and qualitative research. Moreover, data scientists are expected to play a crucial role in enterprises in gathering valuable insights on consumer behaviour patterns through AI tools and social media platforms. Thus, artificial intelligence is anticipated to gain popularity in the marketing research and analysis services market.
The marketing research and analysis services market report table of contents includes:
1. Executive Summary
2. Marketing Research And Analysis Services Market Characteristics
3. Marketing Research And Analysis Services Market Trends And Strategies
4. Marketing Research And Analysis Services Market – Macro Economic Scenario
5. Global Marketing Research And Analysis Services Market Size and Growth
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26. South America Marketing Research And Analysis Services Market
27. Brazil Marketing Research And Analysis Services Market
28. Middle East Marketing Research And Analysis Services Market
29. Africa Marketing Research And Analysis Services Market
30. Marketing Research And Analysis Services Market Competitive Landscape And Company Profiles
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