According to The 2013 Honomichl Global Top 25 report, the top 25 research companies saw aggregated revenues of $8.8bn in 2012 compared with 2011 – 0.5% growth once inflation was taken into account.

However, 11 of the global top 25 saw revenues decline or not grow enough in 2012 to cover the 2.1% inflation.

Syndicated services companies fared the best in 2012 with eight of thee database companies benefiting through revenues from clients under long-term contract with revenues at 3.5% while ad hoc survey firm took a hit from declining revenue.

Author of the report Jack Honomichl wrote: “The eight database companies are pretty much the backbone of the research industry this year and their contractual relations with clients provide a safety net for industry fortunes during harsh economic times.”

In addition, the report found that catering for client needs saw 13 companies buy 31 firms in 2012 compared with 24 in 2011, leading to 54% of the global top 25 firms’ revenues coming from outside their home countries.

“If one of your largest clients decides to expand into China, it behoves you to be part of its expansion and the quickest way to do that is to buy a Chinese research firm,” wrote Honomichl.