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.

In 2020, Nielsen was the leading market research and data analytics company in the United States in terms of revenue. Nielsen generated nearly 3.7 billion U.S. dollars in revenue in the United States, while abroad it generated over 2.6 billion U.S. dollars. Second in the ranking was IQVIA, whose revenues reached 4.35 billion euros dollars worldwide.

The Company Research Services industry is composed of businesses that conduct research on management teams, strategic developments and the financial operations of companies in the private and public sectors. Company research services are predominantly catered toward financial institutions, such as asset managers, bankers, equity traders and sales departments. As a result, demand for company research services is tied to corporate profit and research budget levels. For much of the past five years, growth in both corporate profit and the number of businesses in the United States have fueled industry growth. Uncertainty in financial markets can also drive new demand for research services, as companies seek out additional information before making investments in the business environment. Consequently, industry revenue is projected to expand at a CAGR of 2.2% to $2.1 billion over the five years to 2023. Meanwhile, as corporate profit has increased, industry companies have been able to increase prices, supporting their own profit growth.While the past five years have overall been positive for the Company Research Services industry, industry operations were briefly disrupted in 2020 when the COVID-19 pandemic halted the US economy. Stringent safety restrictions and massive uncertainty caused corporate profit to fall, as many companies had to limit capital expenditures to avoid bankruptcy. Uncertainty fell as the pandemic passed in 2021, leading to higher spending from downstream markets. After a bumpy 2022 due to economic uncertainty, growth is expected to resume in 2023, with revenue expected to rise an estimated 3.1% in the year.The industry is expected to see continued strength over the five years to 2028. The industry is expected to benefit from growing demand from the finance and insurance industries, which account for the largest share of revenue. In particular, heightened regulation regarding risk management will prompt companies to invest in company research that will better inform decisions. Marketing services are also expected to expand over the five years to 2028 as companies develop tools to help corporate sales teams expand operations. Overall, industry revenue is expected to rise at an annualized rate of 1.8% to $2.3 billion over the five years to 2028.

Nielsen IQ was the largest market research company in Poland in 2023, with order revenues of *** million zloty. It was followed by Kantar Polska and GfK.

Market Research companies have benefited from research and development (R&D) expenditure growth as companies develop new products to satisfy consumer demand. Downstream companies continue to rely on market research to create new products and campaigns that fit ever-changing consumer preferences. As companies strive to enhance consumer-centric strategies amid increased consumer spending, demand for tailored market research solutions has surged. High corporate profit levels have enabled businesses to invest in research and development. The digital shift has further transformed the landscape, with companies pioneering new research tools to tap into the vast potential of big data to enhance accessibility and participation. These trends have led to revenue growing at a CAGR of 3.9% to $36.6 billion over the next five years, including a 2.4% gain in 2025 alone. Consumers' and advertisers' growing reliance on the internet has led to new metrics market researchers can use to better understand consumers. These have allowed new companies to enter the industry and driven providers to adjust services and implement new technologies. The rising use of social media has also contributed to the growing demand for market research. These technological advancements improved data collection and analysis methods, offering actionable insights that helped companies refine marketing strategies and develop better products. New opportunities continue to drive revenue growth, but expansions to services and onboarding of new technology have cut into industry profit. Companies will strengthen their R&D budgets as economic conditions improve, further driving demand for advanced market research tools. The proliferation of online commerce and smart technologies will give researchers unprecedented access to consumer data. Technological developments, such as artificial intelligence (AI), are poised to create new metrics based on human reactions, which companies can leverage to better understand consumer behavior and preferences. These new technologies will develop new market research opportunities. Access to these metrics, however, will lead to tightening data privacy regulations. There's a growing emphasis on ethical practices, transparency and data security. This will shape consumer trust and industry standards, creating new opportunities and challenges in a rapidly evolving marketplace. Revenue is poised to grow at a CAGR of 2.2% to $40.9 billion through the end of 2030.

As of October 20123, Roof productions Oy ranked first with an annual turnover of **** million euros in Finland. The second largest player in the Finnish advertising industry was Bob the Robot Oy with a turnover of roughly **** million euros, followed by HexTop Oy with **** million euros in turnover.

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.

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China's economic growth and expanding business market have created opportunities for market research firms. The Market Research industry has developed rapidly over the past five years. Several specialized local research enterprises have entered the market, fueled partly by increased foreign capital in the industry. Industry revenue is expected to grow at a CAGR of 5.5% over the five years through 2023 to total $8.3 billion. This trend includes an anticipated increase of 7.1% in the current year. Although industry profit is high at 15.4% of industry revenue, it has fallen from 17.0% in 2013 due to rising labor costs and increasing competition.China's economy is anticipated to grow and become more globalized over the next five years, driving demand for industry services. The ongoing structural reform of domestic companies will further increase demand for market research services. Industry revenue will grow at a CAGR of 6.5% over the five years through 2028 to total $11.4 billion. The degree of specialization in the industry will likely increase, with customers from the automobile, pharmaceutical, information technology, telecommunication, consumer electronic product, financial, and government sectors accounting for the most significant market shares.Although industry operators will remain highly concentrated in Beijing, Shanghai and Guangzhou over the next several years, some midsized cities such as Chengdu, Xi'an, and Shenyang are projected to become regional centers and gain some market share. The industry will continue contending with issues such as collecting accurate data, gaining access to sales channels and finding appropriate domestic and international business partners over the next five years.

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.

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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.