Every year ESOMAR, the world organization of professionals market research, conducts a global survey which is performed by collecting information among member institutes in 106 countries and regions, the survey is carried out during the second and third quarters of the year.
Within the research sector, ESOMAR distinguishes three segments: the research segment “based on established methodologies”, which uses long-standing methodologies, with a proven track record, in -depth and refined over time. The segment of “technology-enabled” research includes research methods that could not have existed without the contribution of technology. The reporting segment: includes companies specializing in market consulting, business consulting, secondary data, reporting. A residual segment is then identified which remains “undeclared” globally.
Here are the key points that emerge in the ESOMAR 2022 annual report
- – Overall, the market research industry has grown very significantly and has experienced an unprecedented year of growth. 2021 saw this industry grow by 15% taking its global revenue from 102 billion dollars to nearly 119 billion dollars.
- – Globally, the five largest countries for research are the United States with a global share of 53%, the United Kingdom with 9%, China with 3%, India with 2% and the new Australia arrived with 2%.
- – Growth within the industry was primarily fueled by the technology-enabled research segment, where strong investment inflows coupled with promising returns resulted in faster growth leading this segment to experience a net increase in turnover on a +18.9% per annum. This trend is particularly marked in the United States, where growth in this segment stood at +24.3%
- – The research segment based on consolidated methodologies, while growing at an excellent rate of around +5%, shows an increase not comparable to that enabled by technology. The growth of the segment based on more traditional research methods is more marked in Europe, with an absolute increase of +9,2%
- – Globally, the research segment remains relatively stable to 23%, losing one point from the previous year
- ESOMAR predicts that 2022 will witness further expansion of the sector which is expected to exceed 130 billion dollars in revenue this year, translating into global net growth of +5.2%, growth mainly fueled by the Asia Pacific and Europe, with net growth of +10.4% and +7,2% respectively. The United States will remain the driving force not only of the sector but, more specifically, of the segment of research “based on consolidated methodologies”, but the expected high level of inflation will reduce growth expectations in this country to a net +3.0%.
From 2022, therefore, an increasing number of countries will exit the production “valley” that was created during the pandemic and following the serious macroeconomic disturbances of the last two years. All EU countries should do so by declaring higher turnover than in 2019.