ESOMAR Global Market Research Report - 2021 (Highlights)

ESOMAR Recently released their 2021 Global Market research industry report and we wanted to share some of the most interesting statistics they released.

With the state of the UK in recent times from Covid-19 and Brexit, it’s been a challenging year for the whole country and presented unprecedented challenges to the insights sector across the globe.

However, the ESOMAR report gives promising information into the future of the industry. Looking at the industry across the UK, they estimate that the insights industry is now worth an estimated ￡7Billion - a 40% increase over 5 years on the previous estimate (in 2016) of ￡5billion.

The insight industry has weathered the problems from Brexit and covid much better than expected – originally, an estimated drop of -15% in revenue was predicted, the current estimate now sits at -4.7%. This can be credited largely due to the strength of the UK industry and its ability to adapt to change, with the initial struggles of performing face-to-face research, switching to alternative methodology to continue research.?

They believe the main driving force behind this increase in value, despite the challenges of the last year are down to the rapidly evolving technology components of research which saw an estimated growth of 8.4%. Because of this, the more traditional side of research saw a decline of 4.4% - unsurprisingly with the limitations imposed on face-to-face research and the need to shift towards more automated and tech focused solutions. The report goes on to mention that throughout 2021 global outputs are expected to increase by 5.9% resuming the healthy levels of growth the industry typically experiences, hopefully surpassing US$90 Billion

You can really see this kind of change from a recruitment perspective with the market being busier than ever in recent years, with agencies and clients looking for an ever-evolving skillset across the industry as we move into a more tech and data solutions-oriented market.?

To purchase the full report, click here: https://shop.esomar.org/knowledge-center/library-2021/Global-Market-Research-2021-pub2955