US Market Research
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.
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.
- 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.
Proposed next steps:
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As this research could only provide the market size, growth rate, and future projections in the US Market Research industry, we recommend further research to provide 2-3 growth trends in the said market. For each, we will name what the trend is, why it is a trend, and 1-2 thought leaders or industry experts discussing the trend.
Additionally, we recommend providing a profile of companies/organizations that hire research companies, sponsor independent research, and/or subscribe to research products. We will provide the industries these companies/organizations belong, their size (small, medium, or large), and the kind of information they are typically interested in.