Wonder

Log in

Research Outline

Prepared for Nic D. | Delivered April 17, 2020

US Market Research

Goals

To provide the market size, growth rate, future projections, and current trends in US Market Research. To also provide the profile of organizations that hire research companies, sponsor independent research, and/or subscribe to research products.

Early Findings

Market Size and Growth

  • The US Market Research industry is currently valued at $22.02 billion. It is expected to grow by a CAGR of 2.2% in 2020. On average, the US Market Research industry grew 1.1% annually between 2015 and 2020.
  • The primary negative factors "affecting this industry are high competition and low barriers to entry." However, the "increased R&D expenditure is expected to positively affect industry revenue."
  • There are 42,029 businesses and 134,750 jobs in the US Market Research industry.


Future Projections

  • The total spend on social listening and analytics from market research budgets is expected to reach $16 Billion by 2023.
  • It is expected that "market research online communities will replace a lot of the asking questions part of market research."
  • Experts think that "artificial intelligence will become mainstream in analyzing data for customer insights" by 2022.