The global market for non-subscription market research services is estimated at $65-70 billion, representing the custom, ad-hoc, and consulting segment of the broader industry. The market is projected to grow at a 3-year CAGR of est. 4.5%, driven by the corporate need for granular, customer-specific insights in a data-rich environment. The most significant opportunity lies in leveraging AI to deliver deeper predictive insights at speed, while the primary threat is the rapid pace of technology obsolescence, which could render traditional methodologies and providers irrelevant.
The Global Total Addressable Market (TAM) for non-subscription market research services is currently estimated at $68 billion. This segment, which includes custom quantitative and qualitative studies, consulting engagements, and ad-hoc data analysis, is projected to grow at a CAGR of est. 5.1% over the next five years. Growth is fueled by increasing business complexity and the demand for tailored strategies that cannot be met by syndicated reports alone. The three largest geographic markets are 1. North America (est. 40%), 2. Europe (est. 32%), and 3. Asia-Pacific (est. 20%).
| Year | Global TAM (est. USD) | 5-Yr CAGR (Projected) |
|---|---|---|
| 2024 | $68 Billion | 5.1% |
| 2026 | $75 Billion | 5.1% |
| 2029 | $87 Billion | 5.1% |
Barriers to entry are High, predicated on brand reputation, access to proprietary global consumer panels, deep vertical expertise, and significant capital investment in technology platforms.
⮕ Tier 1 Leaders * NielsenIQ: Global leader in fast-moving consumer goods (FMCG) measurement, offering unparalleled retail data and analytics. * Kantar: Deep expertise in brand strategy and qualitative insights, known for its consulting-led approach to consumer behavior. * Ipsos: Specialist in survey-based research, with strong capabilities in public opinion polling, advertising effectiveness, and brand health tracking. * Gartner: Dominant in the technology sector, providing executive-level advisory, peer insights, and custom research for IT decision-makers.
⮕ Emerging/Niche Players * Qualtrics (NASDAQ:XM): Technology-first provider focused on Experience Management (XM) platforms, enabling clients to conduct their own research but also offering full-service support. * Suzy: Offers an "always-on" consumer insights platform for real-time feedback, challenging traditional project timelines with agile, iterative research. * Circana: Formed by the merger of IRI and NPD, provides deep data and analytics on consumer purchase behavior across a wide range of industries. * Forrester (NASDAQ:FORR): Niche focus on the business impact of technology, providing research and advisory for marketing and technology leaders.
Pricing is predominantly project-based, using a fixed-fee model derived from project scope (methodology, sample size, geographic reach, analytical complexity). The price build-up is heavily weighted towards skilled labor, which can account for 60-70% of total project cost. Engagements are typically structured as a Statement of Work (SOW) with defined deliverables, such as a final report, presentation, or data tables. For open-ended strategic advisory, a Time & Materials (T&M) model based on consultant day-rates is common.
Value-based pricing is emerging for high-impact projects, where fees are tied to the strategic value of the insights rather than the direct cost of labor. The most volatile cost elements are talent, respondent access, and technology licensing. These inputs are subject to market pressures that can impact project margins and final client pricing.
est. +8-12% YoYest. +5-10% YoYest. +15-20% YoYMarket share is estimated for the total market research industry, as non-subscription specific data is not publicly available.
| Supplier | Region(s) | Est. Market Share | Stock Exchange:Ticker | Notable Capability |
|---|---|---|---|---|
| NielsenIQ | Global | est. 8-10% | Private | FMCG retail measurement & consumer intelligence |
| Kantar | Global | est. 6-8% | Private | Brand equity consulting & qualitative insights |
| Ipsos | Global | est. 4-6% | EPA:IPS | Large-scale survey research & ad testing |
| Gartner | Global | est. 3-5% | NYSE:IT | IT research & C-level executive advisory |
| Circana | Global | est. 3-5% | Private | Consumer purchase behavior data (CPG, Retail) |
| Qualtrics | Global | est. 2-4% | NASDAQ:XM | Experience Management (XM) software & services |
| Forrester | Global | est. 1-2% | NASDAQ:FORR | Technology strategy for business leaders |
North Carolina presents a strong and growing demand profile for custom market research, driven by its key economic hubs. The Research Triangle Park (RTP) area fuels demand from the technology, life sciences, and biotech sectors for research on B2B tech adoption, patient journey mapping, and clinical trial recruitment. The Charlotte financial center drives needs for insights into consumer banking behavior, wealth management trends, and fintech adoption. While major supplier HQs are not located in-state, all Tier 1 firms maintain a significant presence to service key accounts. The state's world-class university system provides a rich talent pipeline for analysts, though competition for data scientists in the RTP area is intense, putting upward pressure on labor costs.
| Risk Category | Rating | Justification |
|---|---|---|
| Supply Risk | Low | Highly fragmented market with numerous global, regional, and boutique suppliers, ensuring high availability and competitive tension. |
| Price Volatility | Medium | Driven primarily by specialized labor costs. While competition mitigates drastic swings, wage inflation for data scientists presents a persistent upward pressure. |
| ESG Scrutiny | Low | As a professional service, the direct environmental footprint is minimal. Scrutiny is focused on data ethics, privacy, and responsible AI use, not traditional ESG metrics. |
| Geopolitical Risk | Low | Services are largely digital and can be delivered from anywhere. Risk is isolated to specific projects requiring on-the-ground research in politically unstable regions. |
| Technology Obsolescence | High | The rapid evolution of AI and data analytics tools poses a significant threat. Suppliers who fail to invest and adapt their methodologies risk becoming irrelevant within 3-5 years. |
Unbundle Research for Efficiency. For rapid, directional needs (e.g., ad concept tests), bypass traditional Tier 1 RFPs. Engage agile, tech-enabled providers to reduce turnaround from weeks to under 72 hours and cut project costs by an est. 20-30%. Reserve full-service firms for foundational, strategic studies where deep consultative support is critical.
Mandate AI Utilization in RFPs. For all projects over $100k, require suppliers to specify how they will leverage AI/ML for data synthesis, predictive analysis, or insight generation. Prioritize partners who can demonstrate quantifiable improvements in speed or analytical depth over those using AI as a marketing term, ensuring our spend funds next-generation capabilities.