Global revenue of the market research industry by region 2009-2020

Due to the ever-increasing amount of data gathered, and then analyzed, the global revenue of the market research industry has experienced strong growth in recent years. The United States market appears to be the largest, valued at 48 billion U.S. dollars in 2020 and accounting for more than half of the global market.

Market research industry

The market research industry includes any organized activity aimed at gathering information about a specific industry, market, or group of customers. Market research relies on tools such as statistics, models, surveys, and, increasingly, big data analytics, and is a key instrument to meet customers’ needs and to direct investments in R&D and in new markets. In recent years, new technologies and new devices led to the emergence of new research methods such as big data analytics, mobile surveys, and behavioral economic models.

Leading market research companies

With a total revenue of 6.5 billion U.S dollars in 2019, Nielsen is the largest market research company in both the U.S. market and globally. Headquartered in New York City, Nielsen is a global market research company operating worldwide. Their nearest global competitor, U.S. company Gartner Inc., reported 4.25 billion U.S. dollars in global revenue for 2019, while their nearest competitor in the U.S. market, IQVIA, generated 2.2 billion U.S. dollars in revenue in the United States that same year.