Segments covered: By type – Quantitative, Qualitative, Primary, Secondary; By end-use sector – IT services, manufacturing, financial services, construction, healthcare, other
LONDON, July 27. 2021 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the Marketing Research and Analytics Services Market, growth over the historical period of the Market Research Agency industries is driven by 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 negatively impacted growth during the historical period were privacy and security concerns, shortage of skilled workers, and companies increasingly preferring third-party survey companies over market research.
Market size And Growth
The global market for marketing research and analysis services is expected to grow from $65.08 billion in 2020 for $68.73 billion 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 had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market should reach $83.39 billion in 2025 at a CAGR of 5%.
North America was the greater region in the market for market research and analysis services, representing 33.3% of the global market in 2020. It was followed by Western Europe, Asia-Pacific and other regions. In the future, the fastest growing regions on the market for marketing research and analysis services will be South America and the Middle Eastyouwhere growth will be at CAGRs of 12.3% and 7.7% respectively from 2020 to 2025.
The Business Research Societythe report entitled Global Marketing Research and Analytics Services Market Report 2021: COVID 19 Impact and Recovery to 2030 Covers major Marketing Research and Analytics Services companies, Marketing Research and Analytics Services market share by company, Marketing Research and Analytics Services manufacturers, Marketing Research and Analytics Services market size and analysis services and market forecasts for marketing research and analysis services. The report also covers the global Marketing Research and Analytics Services market and its segments.
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Main market opportunities By Segment
The best growth potential of the Segmented Marketing Research and Analytics Services Market by type will arise in the quantitative research marketwho will win $14,048.0 million in global annual sales by 2025. Highest Growth Potential for Segmented Marketing Agency Market Research by research source will arise in the primary research marketwho will win $16,213.7 million global annual sales by 2025, by end-use industry will arise in the media and broadcasting marketwho will win $5,374.3 million in global annual sales by 2025. Marketing research and analytics services market to gain the most in the UNITED STATES to $3,084.1 million.
Market trends And Strategies
Market trend-based strategies for the Marketing Research and Analytics Services market include adoption of advanced technologies, agile market research for faster insights, increased use of experimental research tools, virtual reality technology to conduct market research, AI-powered market research to reduce costs and faster delivery, automation of marketing research and analysis services, blockchain, chatbots, employment of qualified country researchers in development and longitudinal market research and monitoring.
These advanced technologies can be found, for example, in eye tracking technology to generate consumer insights. Marketing research and analytics services companies are increasingly focusing on examining customers’ emotional connection to products. Market researchers collect and analyze customers’ unconscious brain reactions through neuromarketing tools, such as emotion measurement, eye tracking, and other implicit priming tests.
Eye tracking technology is useful in gauging consumer reaction to products without any bias or error. This technology is used to study consumer behavior when shopping, where researchers can capture the actual reaction and time spent looking at a particular product or group, allowing researchers to provide unbiased information. An example of successful implementation of eye tracking technology includes the Tobii Pro glasses which help understand consumer behavior while shopping and give insight into consumer actions.
Global Marketing Research and Analytics Services Market Report 2021: COVID 19 Impact and Recovery to 2030 is part of a series of new reports from The Business Research Society which provide market overviews, analyze and forecast market size and growth for the overall market, segments and geographies, trends, drivers, restraints, revenue, profiles and market shares of key 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 based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
Here is A List of similar reports from the trade research company:
Market Research Services Market – By Type (Marketing Research & Analytics Services, Public Opinion And Election Polls), By End-Use Sector (Consumer Goods, Media, Professional Services, Healthcare, Others) And By Region, Opportunities & Strategies – Global Forecast to 2023
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