Market Research Services Market Intelligence

Are you looking for answers on Market Research Services category?

Are you looking for answers on Market Research Services category?

  • What are the key trends in Market Research Services category?
  • Am I paying the right price?
  • Am I working with the right supplier?
  • What are the major challenges and risks in Market Research Services industry?
  • How is Market Research Services industry performing?

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Report Coverage

  • BREXIT–Impact on Sourcing Market Research Services

  • Global Market Research Industry Trends

  • Industry Affecting Factors

  • Supply Trends and Insights

Market Size

Market Size North America

$19.2 - 20.2 Bn

Market Size Europe

$18 - 19 Bn

Market Size Asia Pacific

$6.3 - 7.3 Bn

Market Size Latin America

$1.3 - 2.3 Bn

Table of contents

  1. Market Research Services Executive Summary
  2. Global MR Industry Outlook
  3. Supply Demand Trends
  4. BREXIT - Impact on Sourcing Market Research Services
  5. BREXIT Impact Update
  1. Market Research Services Market Analysis
  2. Global MR Market Maturity
  3. Global MR Industry Trends
  4. Regional Market Outlook
  5. Porter’s Five Forces Analysis
  1. Market Research Services Supply Analysis
  2. Supply Trends and Insights
  3. Key Global and Regional suppliers
  4. Supplier profiles
  5. SWOT Analysis
  1. Market Research Services Best Practices
  2. Sourcing Models Adoption
  3. Comparative Analysis
  4. Pros and Cons
  5. Key KPI and SLA Components
  1. Market Research Services End-user Industry Update
  2. Personal Products
  3. Alcohol
  4. Food and Soft Drinks
  1. Market Research Services Billing Rates for Market Research Services
  2. Market Research Billing Rates for US
  3. Market Research Billing Rates for UK

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Global Market Research Industry Outlook

  • The global market research industry was estimated at $44–45 billion during 2017
  • North America, Western Europe, and several markets in Asia Pacific (APAC) such as China, Japan, and Australia have high market maturity
  • Growth of APAC and Middle East was high in 2017 against the growth of LATAM, due to exchange rates and inflation that affected the performance of the region

market-research-services-market-size

Global Market Research Market Maturity

The penetration of market research is very low in Africa, parts of South America and Asian markets where buyers spend an average of 2–4 percent of their marketing spend on market research activities, while in developed markets the share of spend is between 10–20 percent of the marketing budgets

Global Market Research Industry Trends

  • Suppliers are increasing their geographic footprint as mature buyers move towards the consolidation of sourcing MR services and also widening their service portfolio to offer a wide range of client services and garner a bigger share of clients' market research spend
  • Suppliers are increasing their geographic footprint as mature buyers move towards the consolidation of sourcing MR services and also widening their service portfolio to offer a wide range of client services and garner a bigger share of clients' market research spend

Global Drivers and Constraints

Growing expansion on modern retail in the emerging markets is expected to strongly drive market research budgets in these markets, also growth in nontraditional market research studies due to the increasing adoption of technology by the consumers and by the service providers will be a major growth driver in mature markets

Drivers

Growing Penetration of Smart Devices

  • With increasing penetration of smartphones and Internet-enabled devices, data collection has become much easier and is also expected to reduce delivery lead times as well.

Segmented Market Research

  • Companies are increasingly realising that the 'one-size fits all' approach does not work in today's market place where customers have so many options available, so market segmentation research will continue to be of great interest to marketers.

Ever-changing Consumer Preference

  • One of the key drivers of consumer insights study is the significant need for buyers to stay up-to-date in understanding consumers' changing preference in addition to understanding the cultural difference. This mainly helps buyer to develop products and communicate better to their target audience

Constraints

Reusing Research

  • Clients are looking at opportunities to reuse previous research by slicing and dicing data and carrying out research on only those portions of data that are absolutely required, so that unnecessary research need not be carried out from scratch or duplicated.

Data Reliability

  • Majority of buyers face this serious challenge mainly due to lack of proper research design, unrepresentative sample selection, biased interviews, etc. This situation not only affects buyers' spend on market research but also force them to check for alternate solutions or engaging with consulting companies


 

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