NEWS4 September 2023

US market research industry up 14.3%

Data analytics Financials News North America Trends

US – The US insights and analytics marketplace grew 14.3% in the past year to a total of $71bn, according to data from the Insights Association.

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The growth in the research market in the US was led by strong gains in research technology sectors, such as digital data analytics, enterprise feedback management and self-service platforms.

However, established, traditional market research posted the smallest gains of any segment of the US industry.

The data is based on a survey of Insights Association members, and is carried out in collaboration with Michael Brereton at Michigan State University with estimates provided by Esomar and Outsell Inc.

Of this year’s top 10 insights and analytics organisations, Gartner came in first place with revenue of $3.5bn.

Nielsen was in second place with $2.98bn and Salesforce was third with $2.93bn.

The rest of the top 10 were IQVIA, Adobe, CoStar Group, Circana, S&P Global (HIS Markit), Booz Allen Hamilton and HubSpot.

Melanie Courtright, chief executive at the Insights Association, said: “Our analysis highlights the continued evolution of the industry and details the ‘firsts’ we are seeing for the traditional versus restech sectors.

“In addition, the top 50 company ranking includes some surprises following mergers and acquisitions, while IA’s top 25 member organisations continue to show strength within the mature established marketing research sector.”