ESOMAR Global Market Research Report - Slowdown in Market Research Revenues Confirmed

Reineke Reitsma [Posted by Reineke Reitsma]

Esomar published their annual global market research report and it shows that 10 of the top 25 market research markets show a decline in revenues. Some 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

The good news is that the industry still manages to show global growth in very challenging times. The bad news: most of us work in or with the US, which is responsible for nearly one third of all global marketing research revenue and is most impacted by the downturn.

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