The new ESOMAR global market research industry report for 2011 shows that the industry has now grown to US $31.2 billion in 2010.
This represents an overall growth of 5.2% and 2.8% after adjustment for inflation – a significant improvement on 2009 but in line with expectations of economic recovery.
Some of the key highlights of this report include:
- After falls in several regions in 2009, the 2010 growth trends extend across all regions of the world, with the single exception of the Middle East
- Recovery in Latin America is stronger than anticipated; the region reports growth of 20.4% year to year and 13.9% once inflation is taken into account
- The other main emerging regions: Asia Pacific and Africa, welcome less accelerated improvements but nonetheless, still report growth against their 2009 performance (3.5% and 4.3% respectively – after inflation)
- Europe experienced the softest increase globally (3.3% in total and 1% once adjusted for inflation). However, Europe still does account for the largest share of research spend globally with 42% of the market (based on turnover value)
- North America is still second in terms of research spend (34% = $10,614 million) and growth adjusted for inflation showed net growth of 3.1% in 2010
For a more detailed look at the figures visit: http://www.esomar.org