$34.7bn
$X.Xbn
129k
42,268
$XX.Xbn
Market Research companies have benefited from research and development (R&D) expenditure growth as companies develop new products to satisfy consumer demand. Although revenue endured a slight dip in 2020 because of the pandemic, downstream companies continue to rely on market research to create new products and campaigns that fit ever-changing consumer preferences. The recent hike in economic uncertainty has supported demand for market research firms, as downstream companies aim to better understand the market and focus spending on campaigns with higher chances of succeeding. This era of economic uncertainty has underscored the importance of understanding consumer interaction, driving demand for both qualitative and quantitative research methods to shape business strategies. These trends have led to revenue growing at a CAGR of 3.3% to $34.7 billion over the next five years, including a 3.6% gain in 2024 alone.
Industry revenue has grown at a CAGR of 3.3 % over the past five years, to reach an estimated $34.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Iqvia Holdings Inc. | 2,518.3 | 172.6 | 6.9 | |
Nielsen Holdings Plc | 2,085.9 | 93.1 | 4.5 | |
Ipsos | 1,040.0 | 95.7 | 9.2 |
To view the market share and analysis for all 35 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Quantitative research, Qualitative research and Other. Quantitative research is the largest segment of the Market Research in the US.
Quantitative research is the most popular service
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.
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NAICS 54191 - Market Research in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Digital tools reshape market research. Volatile corporate profit and advertising expenditure have pushed companies to adopt cost-effective, digital market research methods. T...
Learn about an industry's products and services, markets and trends in international trade.
Reliance on quantitative data increases alongside technology. Due to widespread internet use, quantitative data is becoming easier to collect, leading to a better understandi...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Companies follow major markets. This has led market research companies to base operations in metropolitan cities, including Los Angeles and New York City.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Price and quality are the two main factors affecting competition. Companies that provide accurate insights on time and within budget benefit from repeat customers. Substitute...
Learn about the performance of the top companies in the industry.
IQVIA has fully acquired Q2 Diagnostics from Quest Diagnostics, enhancing its service offerings. Shortly after, it secured a deal to purchase Rules Based Medicine from Myriad...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
An improving economy leads to revenue growth. Rising consumer spending and corporate profit have boosted advertising and research and development expenditures, both of which ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Market research firms are under pressure from DIY tools. Self-service platforms offer affordable market research options, forcing traditional agencies to lower prices and cut...
Including values and annual change:
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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The market size of the Market Research in the US industry in United States is $34.7bn in 2024.
There are 42,268 businesses in the Market Research in the US industry in United States, which has grown at a CAGR of 0.3 % between 2019 and 2024.
The market size of the Market Research in the US industry in United States has been growing at a CAGR of 3.3 % between 2019 and 2024.
Over the next five years, the Market Research in the US industry in United States is expected to grow.
The biggest companies operating in the Market Research market in United States are Iqvia Holdings Inc., Nielsen Holdings Plc and Ipsos
Broadcast media rating and Marketing analysis or research are part of the Market Research in the US industry.
The company holding the most market share in United States is Iqvia Holdings Inc..
The level of competition is high and increasing in the Market Research in the US industry in United States.