Inside the $153bn Insights Industry

The following article is an excerpt from Esomar’s Global Market Research 2025. This flagship report of ESOMAR, often dubbed as the “Bible of Market Research”, provides you with the most comprehensive overview of the state of the insights industry and the market research sector around the world using data collected by national research associations, leading companies, independent analysts, and ESOMAR representatives.

As the industry reflects ongoing changes, Esomar’s global survey on the insights industry, shared with the world’s associations as well as ESOMAR representatives and experts, continues to adapt to its demands and shifting dynamics. Continuing from last year's edition, the questionnaire proposes a funnel-like approach where the respondent first estimates the size of the overall insights industry in their country, before then drilling down to understand the specifics of the market research sector. Isolating the market research activity allows for a better understanding of its practices and how they intersect with the other two sectors—research software and consultancy and business services —as illustrated in the image below.

Globally, the insights industry is estimated to have surpassed US$150 billion as of 2024 and is expected to surpass US$160 billion by the end of this year. Of these, the market research sector accounts for US$56 billion, the research software sector for US$62 billion, and the reporting sector for US$35 billion. Please turn to Chapter 9 to access this data in more detail.

When breaking down the US$56 billion market research sector, approximately 62% is attributed to full-service and market research services (including fieldwork), 31% to firms providing subscription-based and research software services, and the remaining 7% to consultancy services. For the first time, these results can be compared with the Global Market Research 2024 edition, reflecting the methodological changes introduced last year. The comparison shows that the share of global turnover related to firms within the market research sector conducting market research declined by about 3 percentage points compared to 2023. This result reflects a progressive shift towards either offering more research software services or a higher demand from clients for these tools provided by the market research firms.

When looking at where growth came from in 2024, one sector clearly stands out: the research software sector, which continues to drive most of the growth of the insights industry.

While 2023 was a year characterised by limited industry growth resulting from the relatively high interest rates imposed as a response to post-pandemic inflation, 2024 gave signs of incipient recovery. By sector, market research reflected the characteristics of a mature and consolidated industry, expanding by 4.8%. In contrast, research software continued to lead with growth of 11.5%, while the reporting sector advanced at a steady pace of 8%.

A more heterogeneous industry makes the role of Esomar and the other associations around the world even more consequential. The revision of the 2025 ICC/Esomar code, combined with our collaborative efforts to ensure ethical and fair practises, will help ensure the industry's longevity and success for years to come.

The saga continues in Esomar’s Global Market Research 2025. Download your copy now!