The global market research industry reached a record high market size of approximately ** billion U.S. dollars in 2023. Over the last decade, the global market research industry has performed contrary to broader economic trends as the industry has continued to grow. Figures for 2023 signaled an increase of about *** billion U.S. dollars compared to the previous year. Market research industryMarket research is the activity of gathering information about markets in which an organization sells their produces and/or services. This often includes detailed qualitative understandings of consumer attitudes and preferences through tools such interviews, surveys, and increasingly, big-data analytics. The leading market research company worldwide was U.S.-based Gartner in 2022. Slow growth in EuropeWhile growth in the United States has been significant, the revenue of the market research industry in Europe grew just slightly since 2014. Some analysts expect this poor performance to continue into the near future for *** reasons. First is the short- and mid-term uncertainty created by Brexit, impacting the reliability of any market research conducted prior to the issue being resolved. Second is the implementation of the EU General Data Protection Regulation (GDPR) laws in May 2018, which limit what companies are able to do with personal data. A majority of IT professionals in France, Germany and the UK agree the GDPR laws will prevent personal data being passed on to third parties, reducing the amount of data available to researchers in Europe compared to other regions.

Due to the ever-increasing amount of gathered and analyzed data, the global revenue of the market research industry has experienced strong growth in recent years. The North American market was the largest, valued at almost ** billion U.S. dollars in 2023, with the United States accounting for more than half of the global market. Market research industry The market research industry includes any organized activity aimed at gathering information about a specific industry, market, or group of customers. Market research relies on various types of services such as statistics, models, surveys, and, increasingly, big data analytics as a key instrument to meet customers’ needs and to direct investments in R&D and in new markets. In recent years, new technologies and new devices led to the emergence of new research methods such as big data analytics, mobile surveys, and behavioral economic models. Leading market research companies With a total revenue of roughly *** billion U.S dollars in 2023, Gartner was the leading market research company worldwide. Headquartered in Connecticut in the United States, Gartner is a global market research company operating worldwide. Their nearest global competitor, U.S. company IQVIA, reported *** billion U.S. dollars in global revenue in 2023.

In 2023, the established market with the largest market research revenue was the United States, with a total nationwide turnover of almost ***billion U.S. dollars. The United Kingdom was second in the list and had a revenue of approximately ** billion U.S. less than that of the United States.

In 2023, the total market research revenue generated in the United States reached over ** billion U.S. dollars. This was a significant increase of roughly *** billion U.S. dollars when compared to the previous year. The industry has been predicted to grow by a similar amount in 2024.

In 2023, roughly ** percent of the global spending made on market research services came from the manufacturing sector of non-durables. Furthermore, almost ** percent of the global spending on market research was from pharmaceutical manufacturing.

In 2023, the ************* had the vast majority of the market share of the global market research industry. Its closest competitor in the United Kingdom had ** percent of the share, compared to over ** percent in the United States.

In 2022, online surveys were by far the most used traditional quantitative methodologies in the market research industry worldwide. During the survey, 85 percent of respondents stated that they regularly used online surveys as one of their three most used methods. Moreover, nine percent of respondents stated that they used online surveys only occasionally.

In 2023, around ** percent of the global spending made on market research was directed to market measurement surveys. In the same year, a further ** percent of this spending was absorbed by CRM systems/customer satisfaction.

This statistic displays the market research tools most used by professionals in the market research industry in the United States in 2017 and 2018. During the 2018 the survey, ** percent of respondents stated they usef Microsoft Excel, compared to ** percent in the 2017 survey.

In 2023, the region that had the highest growth rate in market research revenue was **************************. The United States had the lowest growth rate of *** percent, with Europe slightly ahead on four percent.

In 2022, ************** were the most used traditional qualitative methodologies in the market research industry worldwide. During the survey, ** percent of respondents stated that they regularly used this method. Second in the list was data visualization/dashboards, where ** percent of respondents gave this as their answer.

In 2022, research ************ was the most used emerging research approach in the market research industry worldwide. During the survey, almost ** percent of respondents stated that they used research gamification surveys to conduct market research.

In 2023, the client sector with the highest share of market research revenue worldwide was media and broadcasting, with **** percent of the total share. Second in the list was consumer non-durables, with **** percent of the share worldwide.

The global big data market is forecasted to grow to 103 billion U.S. dollars by 2027, more than double its expected market size in 2018. With a share of 45 percent, the software segment would become the large big data market segment by 2027. What is Big data? Big data is a term that refers to the kind of data sets that are too large or too complex for traditional data processing applications. It is defined as having one or some of the following characteristics: high volume, high velocity or high variety. Fast-growing mobile data traffic, cloud computing traffic, as well as the rapid development of technologies such as artificial intelligence (AI) and the Internet of Things (IoT) all contribute to the increasing volume and complexity of data sets. Big data analytics Advanced analytics tools, such as predictive analytics and data mining, help to extract value from the data and generate new business insights. The global big data and business analytics market was valued at 169 billion U.S. dollars in 2018 and is expected to grow to 274 billion U.S. dollars in 2022. As of November 2018, 45 percent of professionals in the market research industry reportedly used big data analytics as a research method.

This statistic shows the revenue of the industry “advertising and market research“ in the United Kingdom by segment from 2012 to 2019, with a forecast to 2025. It is projected that the revenue of advertising and market research in the United Kingdom will amount to approximately ***** billion U.S. Dollars by 2025.

In 2023, the region with the highest share of global market research revenue was the ************* with over **** of the global turnover. Europe, on the other hand, was responsible for *********** of the global revenue.

In 2021, Gartner was the leading company in the market research and data analytics sector in the United States. Roughly ** million U.S. dollars separated the top two companies, as Nielsen generated a revenue of approximately *** billion U.S. dollars compared to the **** billion U.S. dollars generated by Gartner.

The revenue is forecast to experience significant growth in all regions in 2029. From the selected regions, the ranking by revenue in the data center market is forecast to be led by the United States with 212.06 billion U.S. dollars. In contrast, the ranking is trailed by the United Kingdom with 23.76 billion U.S. dollars, recording a difference of 188.3 billion U.S. dollars to the United States. Find further statistics on other topics such as a comparison of the revenue in the world and a comparison of the revenue in the United States.The Statista Market Insights cover a broad range of additional markets.

In 2023, the leading market research company in terms of global research revenue was Gartner, generating approximately *** billion U.S. dollars. In the same year, American company IQVIA accrued roughly *** billion U.S. dollars. Market research companies - global players Market research is an important business strategy involving the gathering of information about an organization’s target market. In terms of global research revenue, American company Gartner was the leading market research company worldwide. Headquartered in the United States, the number of employees working for the company totaled ****** people in 2023. The sixth largest market research company in terms of global research revenue was Kantar. Kantar Group is a UK-based international network of ** companies, including Millward Brown and IMRB International. In 2022, the research revenue of Kantar amounted to approximately ***** billion U.S. dollars. Another European leader, and ranked seventh in the global ranking, was Ipsos. The company had a research revenue of over *** billion U.S. dollars. The largest share of market research revenue made by Ipsos was generated in Europe, the Middle East and Africa in 2023. United States dominant in a global market The global revenue of the market research industry reached over ** billion U.S. dollars in 2023, over half of which came from the United States. The number of full-time employees working for the top ten market research companies in the United States totaled almost ****** in 2020.

The share of organizations using text analytics in market research worldwide increased overall from 2014 to 2020. During the 2020 survey, ** percent of respondents mentioned they used text analytics as a research method.