Global research turnover hit $28bn in '07, says Esomar
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GLOBAL-- Worldwide market research turnover topped $28bn last year, according to the latest report from industry association Esomar.
Growth was 6.5% – beating the average of 6% over the past six years – but marginally down on 2006's growth rate of 6.8%.
Veronique Jeannin, director general of the association, said the report “clearly confirms that market research in all its many facets has become a key business tool and that its use and influence is growing year on year”.
She added: “Few, if any, businesses with serious aspirations to be a major player in their markets can do so without harnessing the benefits and insights provided by professional market research.”
The US remains the largest research market with turnover of $8.7bn, followed by the UK, which Esomar pegged at $2.8bn. Germany had a good year, overtaking France to become the third largest market with a research spend of $2.7bn.
Author: Brian Tarran
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