The Business Research Company’s Market Research Services Global Market Report 2021 – COVID-19 Impact And Recovery
According to the new market research report ‘Market Research Services Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the market research services market is expected to grow from $71.86 billion in 2020 to $75.66 billion in 2021 at a compound annual growth rate (CAGR) of 5.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $90.79 billion in 2025 at a CAGR of 5%. The market research services market growth is aided by stable economic growth forecasted in many developed and developing countries.
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The market research services market consists of the sales of market research services and related goods by entities (organizations, sole traders and partnerships) that plan, develop, create and manage activities for studying and analyzing markets according to client’s specifications. Market research establishments undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client.
Trends In The Global Market Research Services Market
Many market research companies are suggesting their clients to implement virtual reality technologies to understand customer decision making process. Virtual reality is a computer-generated simulation of a three-dimensional image, sound and other sensations that replicate an environment and also simulates an individual’s presence in the environment. This technology enables companies to generate critical consumer insights without having to invest in trial and error processes in physical stores and collect opinions from target respondents. Virtual reality technology enable companies collect data efficiently from a large sample size with minimum investment. For instance, Nestle implemented Decision Insights virtual store to determine prices and placements of 15 new stock keeping units of ice cream cups. After implementing research recommendations ice cream sales increased by 53%.
Global Market Research Services Market Segments:
The global market research services market is further segmented:
By Type: Marketing Research And Analysis Services, Public Opinion And Election Polling
By End Use Industry: IT Services, Manufacturing, Financial Services, Construction, Others
By Geography: The global market research services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American market research services market accounts for the largest share in the global market research services market.
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Market Research Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides market research services global market overviews, analyzes and forecasts market size and growth for the global market research services market, market research services global market share, market research services global market players, market research services market segments and geographies, market research services global market’s leading competitors’ revenues, profiles and market shares. The market research services global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Market Research Services Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Research Services Market Organizations Covered: Nielsen Holdings plc, WPP PLC, Ipsos SA, GfK GROUP, Westat Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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Here is a list of reports from The Business Research Company similar to the Market Research Services Global Market Report 2021:
Professional Services Global Market Report 2021, COVID-19 Impact And Recovery
Public Opinion And Election Polling Global Market Report 2021, COVID-19 Impact And Recovery
Legal Services Global Market Report 2021, COVID-19 Impact And Recovery
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Source: EIN Presswire