Consolidation in the market research industry has led to the top 10 firms accounting for 58% of the global market research revenue.
It has been stated that there were 88 acquisitions in the past 18 months, leading to the dominance of the top 10 firms.
The global industry for market research has a turnover of $23.3bn, representing growth of 5.7% on 2004. Europe continues to dominate representing 45% of the market with $10.4bn, who are then followed by North America at $8.3bn – a share of 36%
One of the reasons suggested for this rise, is the growth of online research and how this has impacted on face-to-face research, which has decreased by 7% and telephone interviews which have increased 1% to 21%.
Nielson is the biggest market research firm in the world followed by Taylor Nelson Sofres. Us healthcare firm IMS is third and with the merger of GfK and NOP, this moves them up into 4th place, Kantar is at number 5.
