LONDON, July 27, 2021 (GLOBE NEWSWIRE) – According to The Business Research Company’s research report on the Marketing Research and Analysis Services Market, the growth over the historical period for the Marketing Agency industries Market research results from an increase in research and development (R&D) investments, strong economic growth in emerging markets and a growing awareness of market research in end-use industries. Factors that hampered growth during the historic period were privacy and security concerns, the shortage of skilled workers, and companies increasingly preferring third-party investigation companies to market research.
Market size And Growth
The global market for marketing research and analysis services market is expected to grow by $ 65.08 billion in 2020 at 68.73 billion dollars in 2021 at a compound annual growth rate (CAGR) of 5.6%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach 83.39 billion dollars in 2025 at a CAGR of 5%.
North America was the larger region in the market for marketing research and analysis services, representing 33.3% global market share in 2020. It was followed by Western Europe, Asia-Pacific and other regions. In the future, the fastest growing regions in the market for marketing research and analysis services will be South America and the Middle Eastt, where growth will be at CAGRs of 12.3% and 7.7% from 2020-2025 respectively.
The Business Research Company report Marketing Research And Analysis Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030 covers leading marketing research and analysis services companies, market share of research services and Marketing analytics by company, Marketing research and analysis service manufacturers, Marketing Research and analysis services market size, and Marketing research and analysis services market forecast. The report also covers the global marketing research and analysis services market and its segments.
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Better market opportunities Through Segment
The best growth potential in the segmented marketing research and analysis services market by type will arise in the quantitative research market, who will win $ 14,048.0 million in global annual sales by 2025. Highest Growth Potential for Segmented Marketing Agency Market Research by search source will arise in the primary research market, who will win $ 16,213.7 million global annual sales by 2025, by end-use industry will arise in the media and broadcasting market, who will win $ 5,374.3 million global annual sales by 2025. The market for marketing research and analysis services market to gain the most in the United States at $ 3,084.1 million.
Market trends And Strategies
Market trend-based strategies for the Marketing Research and Analysis Services market include adoption of advanced technologies, agile market research for faster insights, increased use of experimental research tools, advanced technology virtual reality to conduct market research, AI-powered market research for lower costs and faster delivery, automation of marketing research and analysis services, blockchain, chatbots, employment of qualified researchers from countries to longitudinal market research and development and monitoring.
These advanced technologies are seen, for example, in eye tracking technology to generate consumer information. Marketing research and analysis services companies are increasingly focusing on examining the emotional connection of customers to products. Market researchers collect and analyze the unconscious reactions of customers’ brains using neuromarketing tools, such as emotion measurement, eye tracking, and other implicit priming tests.
Eye tracking technology is useful in gauging consumers’ reaction to products, without bias or errors. This technology is used to study consumer behavior during shopping, where researchers can capture actual reaction and time spent looking at a particular product or group, allowing researchers to provide unbiased information. An example of a successful implementation of eye tracking technology includes the Tobii Pro glasses which help understand consumer behavior while shopping and understand consumer actions.
Global Marketing Research and Analysis Services Market Report 2021: Impact and Recovery of COVID 19 to 2030 is part of a series of new reports from The Business Research Company that provide market overviews, analysis, and forecast market size and growth for the overall market, segments and geographies. , trends, drivers, restraints, revenues, profiles and market shares of major competitors in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives an in-depth analysis of the impact of COVID-19 on the market.
The reports are backed by 150,000 datasets, in-depth secondary research, and proprietary information from interviews with industry leaders. A team of highly experienced and expert analysts and modelers provide market analysis and forecast. The reports identify major countries and segments for opportunities and strategies based on market trends and approaches of major competitors.
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