Market Research in the US
The Market Research industry in the United States has experienced strong growth over the five years to 2019, encouraged by growth in research and development (R&D) and internet advertising expenditure, which have driven demand for industry services. During the current period, acquisitions among the industry's largest players were common. Major advertising agencies have also increasingly acquired market research companies to pursue value-added services in this complementary industry. The growing use of the internet by consumers and advertisers has driven market research providers to adjust services and has enabled new companies to enter the industry. Over the five years to 2024, revenue for the Market Research industry is anticipated to continue growing. Instituted interest rate hikes and increases in commodity prices are projected to put slight downward pressure on corporate profit growth, which typically has a relatively direct downstream impact on advertising and R&D expenditure.
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.
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