ESOMAR Global Market Research Report
SLOWDOWN IN MARKET RESEARCH REVENUES CONFIRMED
10 of the top 25 market research markets show a decline in revenues
Amsterdam Sept 8th, 2009 – Global market research revenues reached US$32bn in 2008 – an overall growth of 4.5 percent (net 0.4 percent) according to the ESOMAR Global Market Research Report.
Although global revenues showed a 4.5 percent increase over 2007 this only equates to a net 0.4 percent increase after taking into account inflation. Market research revenues in 28 countries showed a decline after inflation, including 10 of the top 25 market research markets.
Gunilla Broadbent, ESOMAR President said, “The Global Market Research Report provides an excellent overview and benchmark of performance, and an insight into the dynamics of the emerging markets. Our strong industry growth rate may have reached an inflection point in some regions but this is clearly linked to the economic downturn. The sustained growth in some emerging markets, particularly Latin America, is encouraging.”
North America is responsible for nearly one third of all global marketing research revenue and was most clearly impacted by the downturn. US growth was 1.6 percent year-to-year, but after adjustment for inflation, net growth is a negative 2.1 percent. Canada fared just as badly with a decline of 2.2 percent after inflation.
Like North America, Europe also includes some of the mature market research markets. Performance was mostly disappointing, slowing to 4.7 percent (0.9 percent after inflation), but the UK and Germany managed to buck the trend both posting 2.5 percent net growth.
According to Jennifer Granger, Market Analyst at ESOMAR, “The economic downturn has clearly resulted in soft performances in most countries and regions compared to 2007 but the pattern is complex and results are highly scattered. There have been large and notable falls but also some continuing strong performances.”
The strongest performing region is Latin America where growth rates increased over 2007. The region grew at 5.6 percent after inflation (13.4 percent actual). Argentina, Peru and Panama all experienced double-digit gains after inflation. The previously buoyant Asia Pacific region shows a softening in growth rates. It achieved 6.3 percent year-to-year growth and just 2.1 percent after inflation, but still fared better than most other regions.
Research Methodologies
Quantitative research methods account for 80% of global research spend, with qualitative accounting for 14%. Desk and secondary research account for 6%.
Online research and online traffic/audience measurement now accounts for 10% or more of overall research spending in 22 countries. This is up from 18 countries in 2007.
In Highlights:
- Global market research revenue grows to US $32 billion in 2008, representing a growth rate of 4.5% and 0.4% after adjustment for inflation
- Performance in North America is poor, with absolute growth of 1.5% and a decline of 2.1% after inflation
- Growth in Europe slows to 4.7% year-to-year and just 0.9% after inflation is factored in
- Asia Pacific region shows a softening in growth rates, to 6.3% year-to-year, and just 2.1% after inflation
- Latin America is the only region in which research actually grew at a higher rate than in 2007
About the Global Market Research Report:
The report is conducted by ESOMAR annually and includes:
- Global & regional highlights and 5-year trend data
- Revenue and growth data on 74 countries
- Breakdowns of sources of revenue, spend by research method and design
- A revamped trends chapter, including an industry outlook from market analysts and industry leaders, an overview of the competitive landscape and a new section on innovation
- An overview of the top 25 research companies and key financial figures of the top 10 firms
ESOMAR’s Global Market Research Report will be available from September 16th. To see a preview please go to www.esomar.org/publications/GMR2009
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ABOUT
ESOMAR
ESOMAR is the world organization for enabling better research into
markets, consumers and societies. With 5,000 members in 100 countries, ESOMAR’s
aim is to promote the value of market and opinion research in illuminating real
issues and bringing about effective decision-making. For more information on
ESOMAR, please visit www.esomar.org.
For more information on the Congress and to register, go to www.esomar.org/web/2009-congress.
For further information, please contact:
Jenny Hall
Telephone: +31-20-589.7850
Email Address: j.hall@esomar.org
