MONTRÉAL: Today, Thursday, the final day of its annual Congress, ESOMAR (the European Society for Opinion and Marketing Research) has issued its twentieth Global Market Research Report. Its verdict? Booming!
The industry's global revenues rose in 2007 to over $28 billion (€18.99bn; £15.09bn), a growth rate of 6.5% year-on-year that betters the sector's six-year average of 6% and the global economy this current year.
Of the five largest markets, Germany experienced good gains, taking third position from France with a spend of $2,659 million, while the US and the UK held their lead in first and second positions respectively with spends of $8,726m and $2,771m.
German-headquartered GfK moved from fifth to fourth in the largest companies category, while The Nielsen Company continues to dominate, increasing its revenue in 2007 by $524m. The largest gains recorded were made by online specialists.
The report, produced with the cooperation of KPMG Advisory, covers such issues as …
- Global and regional highlights and 5-year trend data;
- Turnover and growth data on 74 countries;
- Breakdowns of sources of turnover, spend by research method and design;
- A new section on pricing;
- Assessment of the outlook, key developments and competitive environment;
- Expert insights on current and future research needs in six industry sectors: fast-moving consumer goods, retail, pharmaceutical & healthcare, Automotive, financial services and telecoms, media & entertainment;
- Overview of the top 25 research companies and key financial figures of the top 10 firms;
- A revamped industry journal providing a clearer overview of the main events in the industry during the past 18 months.
Enthuses ESOMAR director-general Veronique Jeannin
: "This report is hugely important for our industry and everyone who takes an interest in market research.
"It clearly confirms that market research in all its many facets has become a key business tool and that its use and influence is growing year on year."
Data sourced from ESOMAR; additional content by WARC staff