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Market Research

The Industry Today

Globally, the market research industry generates $40 billion in revenue, with the United States market research industry representing $20 billion of that business. Kantar Group and Nielsen account for a large percentage of the market share, as reported by the research group IBISWorld. In 2016, there were 41,373 market research businesses in the United States. The market research industry experienced a slump from about 2007 through 2010, during the recession. The economy has been improving the past few years and companies have had more money to invest in developing new products and learning more about how to attract customers, and have been able to allocate more money for market research. A growing number of companies have purchased quantitative research rather than qualitative research: The global research company ESOMAR reported that in 2014, approximately 68 percent of global research spending was on quantitative, survey-based research, and 32 percent was spent on qualitative research.

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