At a distance lies the Social Listening & Communities segment, valued at US$1.7 billion in the region. Despite its positive growth, it was the lowest one in the region, at 11.9% in absolute terms. It comes after significant expansion in 2021, perhaps boosted by increased demand during the pandemic; now, the segment seems to be showing signs of deceleration.
Starting at a much lower base are companies specialised in Self-serve Research Platforms, which represent an estimated turnover of US$689 million. Possibilities for expansion within this segment do not seem to have been exhausted after the increase in the pandemic and continue to grow at 28.8% in absolute terms during 2022,
The European Enterprise Feedback Management segment continued to expand during 2022 and, with an absolute growth of 17.9%, surpassed the half-billion-dollar level. Although positive, its modest growth will not be sufficient to overtake the Self-Serve Research Platforms segment anytime soon.
Overall, the Digital Data Analytics segment generated the largest added turnover for the industry during 2022 and will continue to modulate growth in upcoming years. It will be interesting to see how the remaining segments position themselves in the next few years.
If Europe were to follow the global trend, the turnover from the Data Analytics sector could surpass that of the Established Market Research sector in about 3-5 years!
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