While most of us groan at the mere sight of a survey invitation, the global market research industry quietly roared to a staggering $82.1 billion in revenue in 2022, driven by a digital transformation that sees online surveys now accounting for nearly half of that immense total and mobile-first approaches contributing another $12.4 billion.
Key Takeaways
- The global market research industry generated $82.1 billion in revenue in 2022
- North America's market research sector reached $28.5 billion in 2023, representing 35% of global revenue
- Asia-Pacific market research market grew by 7.2% annually from 2020-2023
- Face-to-face surveys declined to 15% of total methods in 2023 from 25% in 2019
- Online surveys comprised 62% of all data collection in 2023 globally
- Telephone surveys dropped to 8% usage rate in market research by 2023
- Global average survey response rate fell to 33% in 2023 from 40% in 2019
- Millennials respond to 2.1x more surveys monthly than Boomers in 2023
- 68% of consumers prefer short surveys under 5 minutes duration 2023
- World market research workforce totals 1.2 million professionals in 2023
- U.S. employs 152,000 market research analysts with 8% job growth projected
- Top 10 global agencies control 22% of industry revenue in 2022
- AI integration expected in 55% of surveys by 2025 per industry forecast
- Blockchain for survey data security piloted by 12% of firms in 2023
- Voice-activated surveys projected to reach 20% market share by 2027
The multi-billion dollar global survey industry continues expanding across regions and methods.
Company and Employment Data
- World market research workforce totals 1.2 million professionals in 2023
- U.S. employs 152,000 market research analysts with 8% job growth projected
- Top 10 global agencies control 22% of industry revenue in 2022
- Kantar Group revenue from surveys hit $4.1 billion in fiscal 2023
- Ipsos employs 19,000 staff across 100+ countries for survey operations 2023
- Nielsen's survey division generates $3.2 billion annually as of 2023
- 45% of market research firms are independent agencies in 2023
- Average salary for survey researchers in U.S. is $81,420 per year 2023
- Freelance survey specialists grew 25% to 120,000 globally since 2020
- 67% of companies outsource survey work to specialized firms 2023
- SurveyMonkey has 1 million+ paying business subscribers in 2023
- Qualtrics workforce expanded to 5,200 employees post-SAP acquisition 2023
- Asia hosts 35% of global market research firms totaling 42,000 entities 2023
- Entry-level survey roles require bachelor's degree in 92% of job postings 2023
- Remote work adopted by 78% of survey industry professionals post-2020
- Training hours per employee average 42 annually in top agencies 2023
Company and Employment Data Interpretation
The survey industry, it seems, is a sprawling and fragmented empire where a million-strong global army of analysts, largely freelancing and working from home, chases the billions controlled by a few giant firms, all to ask the one burning question every company is outsourcing: "What do people *actually* want?"
Emerging Trends and Technologies
- AI integration expected in 55% of surveys by 2025 per industry forecast
- Blockchain for survey data security piloted by 12% of firms in 2023
- Voice-activated surveys projected to reach 20% market share by 2027
- VR/AR immersive surveys tested by 8% of innovative brands in 2023
- Predictive analytics in survey data used by 49% of enterprises 2023
- Zero-party data collection via surveys up 34% YoY in 2023
- Sustainability-focused surveys increased 27% in corporate use 2023
- Real-time feedback loops implemented in 61% of customer surveys 2023
- Multilingual AI translation covers 95% of surveys automatically by 2024
- Employee experience surveys digitized 92% across industries 2023
- Neuromarketing surveys with EEG rose 18% in adoption 2023
- Hyper-personalized surveys boost engagement by 40% per 2023 tests
- Cloud-based survey platforms hold 73% market share in 2023
- ESG reporting relies on surveys for 68% of data points in 2023
- Metaverse-based survey events planned by 5% of agencies for 2024
Emerging Trends and Technologies Interpretation
The future of surveys is a fascinatingly dystopian yet optimistic landscape where AI will probably write the questions, blockchain will guard your answers, voice assistants will nag you for feedback, and brands in the metaverse will finally ask, via hyper-personalized VR, if their ESG scores make them look fat.
Market Size and Revenue
- The global market research industry generated $82.1 billion in revenue in 2022
- North America's market research sector reached $28.5 billion in 2023, representing 35% of global revenue
- Asia-Pacific market research market grew by 7.2% annually from 2020-2023
- Europe's market research industry valued at $22.4 billion in 2022 with a CAGR of 4.5%
- The U.S. market research market size was $25.1 billion in 2023
- Latin America's market research revenue hit $4.2 billion in 2022, growing 6.8% YoY
- Middle East and Africa's market research sector expanded to $3.1 billion in 2023 at 5.9% CAGR
- Online survey segment accounted for 45% of total market research revenue in 2023
- Mobile-first surveys contributed $12.4 billion to the industry in 2022
- B2B market research services grew to $35.7 billion globally in 2023
- Consumer goods sector drove 28% of market research spending in 2022
- Healthcare market research revenue reached $9.8 billion in 2023
- Automotive industry's survey spending was $4.5 billion in 2022
- Financial services allocated $7.2 billion to market research in 2023
- Technology sector's market research budget hit $11.3 billion in 2022
- Projected global market research growth to $121.4 billion by 2028 at 5.2% CAGR
- Post-COVID recovery boosted industry revenue by 8.1% in 2021-2022
- Small business segment in market research grew 12% YoY in 2023
- Enterprise-level survey spending increased 9.4% to $45.2 billion in 2023
- DIY survey tools market valued at $2.8 billion in 2022
- The global market research industry generated $82.1 billion in revenue in 2022
- North America's market research sector reached $28.5 billion in 2023, representing 35% of global revenue
- Asia-Pacific market research market grew by 7.2% annually from 2020-2023
- Europe's market research industry valued at $22.4 billion in 2022 with a CAGR of 4.5%
- The U.S. market research market size was $25.1 billion in 2023
- Latin America's market research revenue hit $4.2 billion in 2022, growing 6.8% YoY
- Middle East and Africa's market research sector expanded to $3.1 billion in 2023 at 5.9% CAGR
- Online survey segment accounted for 45% of total market research revenue in 2023
- Mobile-first surveys contributed $12.4 billion to the industry in 2022
- B2B market research services grew to $35.7 billion globally in 2023
- Consumer goods sector drove 28% of market research spending in 2022
- Healthcare market research revenue reached $9.8 billion in 2023
Market Size and Revenue Interpretation
While the world spent over $80 billion last year to ask people what they want, the most expensive survey response might simply be a reminder that everyone, everywhere, is desperately trying to figure everyone else out.
Respondent Participation
- Global average survey response rate fell to 33% in 2023 from 40% in 2019
- Millennials respond to 2.1x more surveys monthly than Boomers in 2023
- 68% of consumers prefer short surveys under 5 minutes duration 2023
- Incentive usage boosted response rates by 19% on average in 2022 studies
- Female respondents 12% more likely to complete customer satisfaction surveys 2023
- 41% dropout rate occurs at first open-ended question in online surveys 2023
- Gen Z participation in paid surveys averaged 4.3 hours monthly in 2023
- 76% of respondents abandon surveys due to repetitive questions 2023
- Privacy concerns cause 29% of potential respondents to decline surveys 2023
- Mobile users complete 1.5x more surveys when optimized in 2023 data
- 62% of panel members participate in 5+ surveys per quarter globally 2023
- Urban respondents 18% more engaged than rural in online surveys 2023
- 53% prefer anonymous surveys for honest feedback on sensitive topics 2023
- Average time spent per survey response is 11.4 minutes in 2023 B2C
- 37% higher completion from gamified surveys vs standard formats 2023
Respondent Participation Interpretation
Survey fatigue is real—we're all drowning in questions—but the data shows we can fight back by respecting people's time with short, optimized, and engaging surveys that don't ask the same thing twice and occasionally offer a little reward for the trouble.
Survey Methodologies
- Face-to-face surveys declined to 15% of total methods in 2023 from 25% in 2019
- Online surveys comprised 62% of all data collection in 2023 globally
- Telephone surveys dropped to 8% usage rate in market research by 2023
- Mixed-mode surveys rose to 22% adoption in 2022 for higher accuracy
- Email surveys achieved 32% response rate average in B2B studies 2023
- Paper-based surveys now under 3% of total industry usage in 2023
- Voice-of-Customer (VoC) surveys used in 78% of enterprises in 2023
- NPS surveys conducted quarterly by 65% of Fortune 500 companies in 2022
- Longitudinal panel surveys grew 15% in usage for tracking trends 2023
- AI-assisted survey design implemented in 41% of agencies by 2023
- Mobile web surveys had 89% completion rates vs 76% desktop in 2023 tests
- 72% of surveys now include open-ended questions for qualitative depth in 2023
- Video response surveys adopted by 28% of brands for richer insights 2023
- 55% of researchers use branching logic in surveys to improve relevance 2023
Survey Methodologies Interpretation
The survey industry has become a digital fortress where email battles B2B indifference, AI plays architect to our curiosities, and we cling to open-ended questions like life rafts in a sea of data, all while the lonely landline and paper form fade into nostalgic artifacts.
Sources & References
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