Market Research & Public Opinion Polling

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Industry Structure, How Firms Opertate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Quarterly Insight, Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 4,100 market research and public opinion polling firms in the US gather, record, tabulate, analyze, and present marketing and public opinion data. Major market research service categories include research conducted over the Internet; research conducted by telephone; face-to-face methods; focus groups; and polling services. More specific types of services include audience measurement; custom research; syndicated research; advisory and consulting services; data collection; and data analytics.

Competition from Alternative Service Providers

Market research and public opinion polling firms face competition from a variety of sources, including strategy consulting firms, client in-house market research departments, publicly available information, and data providers, such as digital media measurement services and print and media firms.

Vulnerability to Economic Conditions

Demand for market research services is sensitive to economic conditions and typically drops during periods of uncertainty.

Industry size & Structure

The average market research firm operates out of a single location, employs about 18-19 workers, and generates $5-6 million annually.

    • The market research and public opinion polling industry consists of about 4,100 firms that employ 77,800 workers and generate $22 billion annually.
    • The industry is concentrated at the top and fragmented at the bottom; the top 50 companies account for 58% of industry revenue.
    • Large firms, which include Gartner, NPD, and Forrester Research, may have international operations.
                                Industry Forecast
                                Market Research & Public Opinion Polling Industry Growth
                                Source: Vertical IQ and Inforum

                                Coronavirus Update

                                May 16, 2022 - Podcasting Draws Advertisers’ Interest
                                • Podcast advertising is growing faster than any other segment in US media, and that’s fueling a battle among audience measurement firms, according to Advertising Age. The roughly $11 billion radio market has only one substantial measurement player — Nielsen — but the $1.4 billion podcast industry has at least five. Market research firms may benefit from increasing interest in podcast advertising. The space is attracting money from bigger brand advertisers more interested in ad impressions and audience numbers that can be fed into marketing-mix models, according to executives in the space.
                                • Commercial use of personal data has grown exponentially for the past two decades, but consumer mistrust, government action, and competition for customers may reverse the trend, according to the Harvard Business Review. The data economy was structured around a “digital curtain” designed to obscure the industry’s practices from lawmakers and the public. Data was considered company property and a proprietary secret, even though the data originated from customers’ private behavior. Countries now treat personal data as an asset owned by individuals and held in trust by firms. Access to data by market research firms may be curtailed as a result.
                                • Retail openings are expected to outnumber planned retail closures in 2022, according to Coresight Research. About 1,910 openings are expected, compared with 742 planned closures over the course of the year. That would continue a trend from 2021 when major retailers announced 5,083 store openings compared to 5,079 store closures, and it is an improvement over 2019, when a record 9,300 stores closed.
                                • Marketing expenditure has begun to outpace sales growth in some sectors during the coronavirus pandemic, according to consulting firm McKinsey. The situation may be reversed by 2023 with a strategic approach, the company says. Market research firms may be negatively affected if attempts to reverse the trend result in reduced expenditures on research.
                                • Commercial bankruptcy filings decreased 4% month over month in April after increasing 26% month over month in March, according to Epiq Bankruptcy Solutions. Commercial bankruptcies decreased 5.4% month over month in February, and 11.2% month over month in January. Commercial bankruptcies were down 16% year over year in April. Small business bankruptcy filings known as subchapter V cases, a new type of filing that went into effect in February 2020 under the Small Business Reorganization Act, decreased 40% month over month in April after hitting record numbers in March.
                                Get A Demo

                                Vertical IQ’s Industry Intelligence Platform

                                See for yourself why nearly 40,000 users trust Vertical IQ for their industry research and call preparation needs. Our easy-to-digest industry insights save call preparation time and help differentiate you from the competition.

                                Build valuable, lasting relationships by having smarter conversations -
                                check out Vertical IQ today.

                                Request A Demo