Drivers of our $142bn insights industry
4 min readA US$ 142 billion insights industry – What has changed since 2022? How ESOMAR’s global survey has adapted to the evolving realities of the industry?
The rapid advancements that allowed Artificial Intelligence (AI) to become commonplace over the past couple of years shook the insights industry to its core and allowed for a discussion that has raged on without signs of abatement.
This article, an excerpt from ESOMAR's Global Market Research 2023 report, explores how project types and study designs are evolving over time and identifies trends that were already growing and have accelerated.
Technological advancements have reshaped market research, but it's not that simple. Here, we provide an edited extract of a chapter that can be found in ESOMAR’s Global Market Research report.
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As portions of the research function were transferred from the agency side to the client side, so did the professionals themselves.
What happens when social shifts, regulations and new technologies impact the fundamental business models the industry (any industry!) has relied on for years?
Challenges for insight generation come from within
ESOMAR’s Global Users & Buyers of Insights 2023 report shows that around half of all projects (48%) are conducted internally, with signs hinting at a preference for simpler, likely cheaper projects being chosen for internalisation.
Is the eternal risk of complete internalisation real?