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Market Research in Canada Industry Data and Analysis
Market research service providers benefited from stabilization of national economic conditions, higher digital activity across local markets and evolving insight demands that have shaped the broader research process. Although market researchers initially struggled amid inflationary pressures and DIY competition from competitors like SurveyMonkey, an evolving digital and consumer media landscape caused changes in how market research is conducted. Online interviews and focus groups allowed smaller providers to offset large-scale revenue losses. Market research is needed in times of economic uncertainty since it helps customers navigate unknown waters. Sector-wide clients, such as financial institutions and the public sector, were key accelerants of market research demand, taking advantage of significant rate cuts in 2025 to outsource market research operations. While DIY competition remains fierce, professional market research remains paramount for client success and to accurately gauge changing consumer habits and preferences. Revenue grew at a CAGR of 1.2% to an estimated $1.5 billion over the past five years, including an estimated 9.2% spike in 2026 alone.
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What's included in this industry analysis
IBISWorld's research coverage on the Market Research industry in Canada includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released January 2026.
About this industry
What's this industry report about?
The Market Research industry in Canada operates under the NAICS industry code 54191CA. The Market Research industry in Canada comprises operators that systematically gather, record, tabulate and present marketing and public opinion data. Examples of industry-relevant services include political polling, sampling and statistical services, broadcast media ratings and market analysis. Operators that conduct experimental or scientific research in fields such as economics or engineering are not included in this industry. Related terms covered in the Market Research industry in Canada include quantitative research, qualitative research and focus group.
What's included in this industry?
Products and services covered in Market Research industry in Canada include Quantitative market research services, Qualitative market research services and Other research methods.
What companies are included in this industry?
Companies covered in the Market Research industry in Canada include Ipsos Group SA, Nielsen Holdings NV and Leger Marketing Inc.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Market Research industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Market Research industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Market Research industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Market Research industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Market Research industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Market Research industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Market Research industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Market Research industry in Canada.
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Frequently Asked Questions
What is the market size of the Market Research industry in Canada in 2026?
The market size of the Market Research industry in Canada is $1.5bn in 2026.
How many businesses are there in the Market Research industry in Canada in 2026?
There are 3,278 businesses in the Market Research industry in Canada, which has grown at a CAGR of 5.5 % between 2021 and 2026.
How may import tariffs affect the Market Research industry in Canada?
The Market Research industry in Canada is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Market Research industry in Canada?
The Market Research industry in Canada is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Market Research industry in Canada grown or declined over the past 5 years?
The market size of the Market Research industry in Canada has been growing at a CAGR of 1.2 % between 2021 and 2026.
What is the forecast growth of the Market Research industry in Canada over the next 5 years?
Over the next five years, the Market Research industry in Canada is expected to grow.
What are the biggest companies in the Market Research industry in Canada?
The biggest companies operating in the Market Research industry in Canada are Ipsos Group SA, Nielsen Holdings NV and Leger Marketing Inc.
What does the Market Research industry in Canada include?
Quantitative market research services and Qualitative market research services are part of the Market Research industry in Canada.
Which companies have the highest market share in the Market Research industry in Canada?
The company holding the most market share in the Market Research industry in Canada is Ipsos Group SA.
How competitive is the Market Research industry in Canada?
The level of competition is high and steady in the Market Research industry in Canada.
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