Post by account_disabled on Jan 8, 2024 3:04:43 GMT -5
Without anything being able to foresee the drastic consequences of this year that we are experiencing as a result of COVID-19, according to the study carried out by ESOMAR worldwide (Global Market Research Report), the market research sector closed 2019 with growth 5.9% in absolute data and 3.9% once adjusted for inflation. For Spain, 2019 presents tighter figures, with a growth of 1.3% in absolute data and 0.6% after inflation. The 3% increase in online methodologies is the main factor in this increase. The objective of this global study is to become an increasingly accurate reflection of the sector that – like almost all of them – is undergoing profound transformation. In order to present a complete industry study, ESOMAR and each of the countries contributing to said study are making a great effort to include and quantify data from technology companies, consulting companies and other companies beyond the established ones. Therefore, the comparison with previous years is becoming increasingly complex and we must be cautious when establishing relative growth rates. To give an idea of the magnitudes we are talking about, if we only consider the data from established companies (those usually provided by ESOMAR), the turnover of market research would be around $42.5 billion . Including all areas of marketing research, the sector's total is estimated to reach $90 billion.
We highlight two changes in the applied methodology : – On the one hand, the inclusion and estimation of the business volume of the so-called technology companies confirms that the market research Email Data sector is growing above all due to the evolution of this type of companies, which They already constitute 52.7% of the total business volume and with a growth rate of 11.5%. – On the other hand, when analyzing the business volume by research method , an attempt has been made to include and estimate the volume generated by consulting-type companies , whose work is more directly related to the processing and interpretation of data and the creation of reports than with data collection. For this reason, in addition to the traditional breakdown between quantitative and qualitative research, the Reporting category has been incorporated , with a share of 21% of the total business volume. Beyond these 2 relevant methodological changes, we highlight other conclusions from the ESOMAR Global Market Research Report : – The boost for the sector worldwide has undoubtedly come from the US, which has made a great effort to include the entire industry in its data.
For this reason and for the strength of its technology companies that have presented excellent results, the US grows by 8.2% (6.3% taking into account inflation), which places it at a market share of 54% and growth of 9 quota points. – The biggest loser is Europe, which with a 26% market share presents a weaker comparative position. Despite this loss of quota, the figures by country are relatively stable. The UK manages to cope quite well with Brexit (gross 1.1%; net 0.8%), France grows 3% gross (net 1.7%) and Spain 1.3% (gross; 0.6% net) . Ukraine grows spectacularly (30.4% gross; 20.8% net) due to the population surveys on the occasion of the elections and Sweden also presents a marked growth (16.4% gross; 14.4% net) due to its increase of technology-based companies. – Asia continues to grow (2.7% after inflation) due to the strength of China (4%), Japan (4.4%) and South Korea (4.1%). – With high and irregular inflation, Latin America presents negative net growth of -3.3%. As an example, inflation in Argentina was 53.6%, so the turnover (positive in gross figures) is reduced to negative figures when inflation is applied. 2020: a turbulent year At the beginning of the year, expectations for 2020 and given the evolution of 2019, were around 3.9% growth. COVID has ruined all these forecasts. ESOMAR has collected impressions from more than 60 countries and a decrease of around -25.3% is expected.
We highlight two changes in the applied methodology : – On the one hand, the inclusion and estimation of the business volume of the so-called technology companies confirms that the market research Email Data sector is growing above all due to the evolution of this type of companies, which They already constitute 52.7% of the total business volume and with a growth rate of 11.5%. – On the other hand, when analyzing the business volume by research method , an attempt has been made to include and estimate the volume generated by consulting-type companies , whose work is more directly related to the processing and interpretation of data and the creation of reports than with data collection. For this reason, in addition to the traditional breakdown between quantitative and qualitative research, the Reporting category has been incorporated , with a share of 21% of the total business volume. Beyond these 2 relevant methodological changes, we highlight other conclusions from the ESOMAR Global Market Research Report : – The boost for the sector worldwide has undoubtedly come from the US, which has made a great effort to include the entire industry in its data.
For this reason and for the strength of its technology companies that have presented excellent results, the US grows by 8.2% (6.3% taking into account inflation), which places it at a market share of 54% and growth of 9 quota points. – The biggest loser is Europe, which with a 26% market share presents a weaker comparative position. Despite this loss of quota, the figures by country are relatively stable. The UK manages to cope quite well with Brexit (gross 1.1%; net 0.8%), France grows 3% gross (net 1.7%) and Spain 1.3% (gross; 0.6% net) . Ukraine grows spectacularly (30.4% gross; 20.8% net) due to the population surveys on the occasion of the elections and Sweden also presents a marked growth (16.4% gross; 14.4% net) due to its increase of technology-based companies. – Asia continues to grow (2.7% after inflation) due to the strength of China (4%), Japan (4.4%) and South Korea (4.1%). – With high and irregular inflation, Latin America presents negative net growth of -3.3%. As an example, inflation in Argentina was 53.6%, so the turnover (positive in gross figures) is reduced to negative figures when inflation is applied. 2020: a turbulent year At the beginning of the year, expectations for 2020 and given the evolution of 2019, were around 3.9% growth. COVID has ruined all these forecasts. ESOMAR has collected impressions from more than 60 countries and a decrease of around -25.3% is expected.