The Business Research Company Global Market Research Services Market Report 2021 – Impact and Recovery of COVID-19
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According to the new market research report “Market Research Services Global Market Report 2021: COVID-19 Impact And Recovery” released by The Business Research Company, the market for market research services is expected to grow by $ 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 companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 90.79 billion in 2025 at a CAGR of 5%. The growth of the market research services market is aided by stable economic growth expected in many developed and developing countries.
Sample request for Global Market Research Services Market report:
The market research services market comprises the sales of market research services and related goods by entities (organizations, independent traders and partnerships) that plan, develop, create and manage research and marketing activities. market analysis according to customer specifications. Market research institutions undertake processes where human capital is the primary input. They make the knowledge and skills available to their employees, often on an assignment basis, where one person or team is responsible for delivering services to the client.
Global Market Research Services Market Trends
Many market research companies suggest their clients to implement virtual reality technologies to understand the decision-making process of clients. Virtual reality is a computer-generated simulation of a three-dimensional image, sound, and other sensations that mimic an environment and also simulate an individual’s presence in the environment. This technology allows companies to generate critical consumer information without having to invest in trial and error processes in physical stores and to collect the opinions of target respondents. Virtual reality technology enables businesses to efficiently collect data from a large sample size with minimal investment. For example, Nestlé set up a Decision Insights virtual store to determine the prices and locations of 15 new cup of ice cream storage units. After implementing the research recommendations, ice cream sales increased 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 surveys
By end-use sector: IT services, manufacturing, financial services, construction, other
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 for market research services represents the largest share of the global market for market research services.
Learn more about the Global Market Research Services Market report at:
Market Research Services Global Market Report 2021 is part of a series of new reports from The Business Research Company which provides market research services of global market overviews, analysis and forecast on market size and growth for Global Market Research Services Market, Global Market Research Services, Market Research Services Global Market Players, Market Segments and Geographies of Market Research Services, Revenue, profiles and market shares of the major competitors in the global market research services market. The Global Market Research Services Market report identifies key countries and segments for opportunities and strategies based on market trends and approaches of key competitors.
Read the 2021 Global Market Research Services Market Report from The Business Research Company for insight into the following:
Data segments: market size, global, by region and by country; Historical and forecast size, and growth rate 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, United States, South America, Middle East and Africa.
Country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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