Market Research in the US - Industry Market Research Report

Market Research in the US - Industry Market Research Report

Market Research in the US

Market Research comprises companies that gather, analyze and present data on public opinions and consumer behavior and attitudes. The industry has benefited from research and development (R&D) expenditure growth as companies develop new products to satisfy consumer demand. Although revenue experienced a small dip in 2020 due to the pandemic, downstream companies continue to rely on market research to create new products and campaigns that fit ever-changing consumer preferences. During times of economic uncertainty, market research capabilities are in high demand, as companies focus spending on campaigns with higher chances of succeeding. These trends result in revenue growing at a CAGR of 3.3% to $31.6 billion over the next five years, including 3.2% in 2023 alone.

Companies in this industry systematically gather, record, tabulate and present marketing and public opinion data. Examples of industry services include political polling, sampling and statistical services, broadcast media rating services and market analysis services. Operators that conduct experimental or scientific research in fields, such as economics or engineering, are not included in this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.