Over the five years through 2024-25, revenue is set to climb at a compound annual rate of 2% to £6.4 billion. This growth stems from recovering business confidence, which was previously shaken by Brexit, the COVID-19 pandemic and soaring inflation, deterring investments. Mounting demand for online and digital research services and intense political activity has also fuelled expansion. Facing stiff competition, market research and public opinion polling companies have innovated to gain a competitive edge, embracing acquisitions in order to gain access to new technology and niche markets, as well as heavily investing in technology to improve data collection and analysis. The shift towards digital advertising has driven the adoption of advanced data gathering and research methods to better understand online consumer behaviour, though there’s been a growing trend towards in-house research as an alternative. Revenue saw a 16.3% downturn in 2020-21, a reflection of the financial strain created by COVID-19 curtailing spending on research activities. The severity of this decline, however, was cushioned by increased market research investment from the public sector and private companies looking to navigate the aftermath of the pandemic. Revenue is forecast to grow by 2.7% in 2024-25, propelled by easing inflationary pressures and the collective effort of businesses to stabilise the economy and financial markets. Public-sector demand is also escalating, driven by the General Election and the continued political discourse necessitating insights into public opinion. Looking ahead, revenue is projected to rise at a compound annual rate of 3.1% over the five years through 2029-30, reaching £7.5 billion. Growth will be fuelled by a rebound in business confidence and an uptick in spending. Demand for companies specialising in web-based market research and social media marketing is expected to surge, supported by strong advertising activity and a mounting need for media research. As e-commerce continues on a steady growth path, there will likely be an increased emphasis on investing in novel research technologies and specialised data analytics capabilities.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market research and public opinion polling companies offer valuable insights into consumer behaviour, values and opinions for businesses, media and public-sector departments. Demand for market research is heavily reliant on business investment and technological advancements, with research companies examining target markets to help businesses tailor their products, services and marketing strategies. The advent of digital platforms and advanced analytics is reshaping the market landscape, providing more efficient data collection methods and insights essential for strategic decision-making. Revenue is expected to expand at a compound annual rate of 2.3% over the five years through 2025 to €2.1 billion, despite being forecast to dip by 2.2% in 2025. The COVID-19 pandemic brought adverse economic conditions, reducing business spending on non-essential services like market research. A decline in advertising spend further hit demand in 2020. However, as restrictions eased, revenue shot up in 2021, as businesses aimed to understand how consumer behaviour was changing in the post-pandemic landscape. Digital advertising's recovery also supported this rebound. Following this, though, inflationary pressures and geopolitical tensions in late 2022 and 2023 curbed spending, as businesses grappled with higher operational costs, leading to a downturn in revenue for market research companies. Prolonged uncertainty and political instability further subdued business investment through 2024 and into 2025, reflected in stagnant demand for market research services. Improving economic conditions are anticipated to bolster the industry’s prospects in the coming years. As inflation eases and interest rates fall, businesses will increase R&D activities, renewing demand for detailed market insights. Opportunities will arise from strengthened collaborations with advertising agencies, aligning strategies based on data-driven insights. Technological advancements will continue to drive innovation, with AI and mobile technologies reshaping data collection and interpretation processes. However, advancing technology will also create challenges as more businesses leverage advanced tech like Gen AI to set up in-house market research solutions, reducing spending on external research companies. At the same time, social media will continue to offer real-time public opinion insights, optimising audience segmentation and sentiment analysis. Data privacy regulations like the GDPR will necessitate balancing innovation with compliance, presenting operational burdens.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.

Market researchers investigate clients' target markets' behaviour, values and opinions, providing insights that allow them to tailor their products, services and marketing. Researchers rely on high European research and development expenditure to fuel demand for market research. Increased digitalisation has opened new doors for market research providers while intensifying competition. Artificial intelligence is increasingly important in analysing, identifying and generating research insights from social media posts using a flood of data. Meanwhile, digital surveys have allowed research companies to expand their outreach, save resources and costs and often attain more accurate and comprehensive insights for clients. Over the five years through 2024, industry revenue is expected to contract at a compound annual rate of 3.6% to €27.2 billion. The COVID-19 outbreak and ensuring low business sentiment took a toll on market research budgets. A sharp contraction in business sentiment squeezed corporate profit, discouraging companies from investing in research and development activities and negatively affecting professional research providers in 2022. A greater availability of data and alternative research methods means that researchers are competing more and more with in-house research departments. In 2024, industry revenue is expected to drop by 3.1% as consumers lower their private consumption expenditure, reducing consumer research activity. Over the five years through 2029, industry revenue is forecast to climb at a compound annual rate of 2.9% to reach €31.4 billion. Over the coming years, market research companies will face higher external competition from technology specialists leveraging insights internally, constraining revenue growth. Nonetheless, researchers will benefit from increasing online advertising activity. Those incorporating advanced data analytics systems and digital market research technology will remain competitive and benefit from greater digitalisation. Smart mobile surveys will also become an invaluable tool for consumer research companies.