The global market research turnover grew to US.1 billion in 2012, representing a year-to-year growth of 3.2%, according to this year’s ESOMAR global market research report.
ESOMAR has released their much anticipated annual Global Market Research Report for 2013. For first time, this year ESOMAR used an expanded market definition and included estimated revenues of the “Advisory Services” sector. Consultancies such as Gartner, Forrester Research, Mintel, International Data Corporation, and Euromonitor were included, with adjusted turnover figures for 2011 and 2012.
“The inclusion of ‘Advisory Services’ adds an additional 15% to the previously measured market size, and now values our global industry at just short of US$40 billion”, notes Finn Raben, Director General, ESOMAR.
The addition of this new sector includes Gartner in the list of the top five market research companies, debuting in fifth place, only surpassed by GfK, Ipsos, Kantar and Nielsen.
Overall, strong-performing markets in Asia-Pacific, Africa, and Latin America were responsible for maintaining growth globally in 2012, countering losses and sluggish performances elsewhere.
Europe saw 21 markets decline as the eurozone continued to struggle. Germany, however, continued to buck the trend, recording positive growth of 5.8%. Turnover for the region dropped to US$15.6 billion, with year-to-year growth of 1.4%. The North American research market recorded a third successive year of growth, although net growth slipped to 0.4% as economic recovery stalled. Turnover increased to US$14.5 billion.
Asia-Pacific, previously the fastest growing region, is now second to Latin America, but recorded its strongest growth in five years, with six markets in the region posting double-digit growth rates. The total turnover increased by 4.8% to US$6.3 billion.
The biggest contributor is Japan, taking 35% of regional revenues. According to the report, the troubled country looks to be recovering after two years of decline as a result of economic upheaval following the Great East Japan Earthquake and the Fukushima nuclear disaster.
The Chinese research market, accounting for a growing share of the region, grew 11.1%, driven by its continuing growth in “scale”. “The smaller but fast-developing markets of Myanmar and Laos, and the more mature markets of Pakistan and Indonesia, all posted stronger growth than China”, says ESOMAR Market Intelligence Analyst, Eelco Snip.
He further adds that “Myanmar holds the title of regional star performer, reporting 88.5% net growth, and is expecting another year of vigorous growth as foreign investors enter the market looking for market information”. For the first time, detailed information is available on the research market in Myanmar.
Looking at the prospects for 2013, optimism has tempered. Of the countries that provided forecasts, 60% still expect the market research industry to grow in 2013. Robust growth expectations prevail in the markets of Myanmar (+70%), Ukraine (+18%), Kenya (+17%), Peru (+12%), and Turkey (+12%). ■
“Global Market Research 2013” is available for purchase via esomar.org/publications.