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Global revenue of market research from 2008 to 2017

Global revenue of market research from 2008 to 2017 (in billion U.S. dollars)

by E. Mazareanu, last edited Aug 9, 2019
Global revenue of market research from 2008 to 2017 The global market research industry has contracted slightly in recent years, dropping from a peak of 46.13 billion U.S. dollars in 2014 to around 45.83 billion in 2017. Over the last decade, the global market research industry has performed contrary to broader economic trends.
Market research industry

Market research is the activity of gathering information about markets in which an organization sells their produces and/or services. This often includes detailed qualitative understandings of consumer attitudes and preferences through tools such interviews, surveys, and increasingly big-data analytics. The largest market research company in the world is U.S.-based Nielsen Holdings.

Reasons for decline

While growth in North America has been consistent, the European market has contracted significantly since 2014. Some analysts expect this poor performance to continue into the near future for two reasons. First is the short- and mid-term uncertainty created by Brexit, impacting the reliability of any market research conducted prior to the issue being resolved. Second is the implementation of the EU General Data Protection Regulation (GDPR) laws in May 2018, which limit what companies are able to do with personal data. A majority of IT professionals in France, Germany and the U.K. agree the GDPR laws will prevent personal data being passed on to third parties, reducing the amount of data available to researchers in Europe compared to other regions.
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Global revenue of market research from 2008 to 2017 (in billion U.S. dollars)

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