Some modern market research experts prophesize the imminent demise of market research as we know it, due to the emergence of newer transformative technologies. The main contention these skeptics put forward is that technology will hijack the role of human intelligence and render it useless. However, this is a grossly exaggerated notion. Current market research trends suggest newer innovations are changing the way researchers work, but they are not facing an existential threat in the foreseeable future-not by a long shot.
Against this backdrop, let's see how market research in 2018 will evolve. According to a report from the Business Research Company, two years down the line the global market research industry is expected to gain a size of $115 billion at a CAGR of 6.3%. This clearly shows that we are all set to see growth in this segment.
Market research is a core part of long-term business growth it offers insights that capture the data from competition and partners so that a thorough analysis can be made. This data will serve as a reference to actuate the marketing strategies and improve customer experience. Here is a compilation of market research in 2018 and beyond -
Every year brings with it a bunch of possibilities and a few annoying questions in the form of challenges. Market research trends and forecast that have been enumerated above also reflect that duality. Researchers do have the ability to overcome any challenge. However, to deliver value to clients, they must quickly wrap their mind around the ongoing changes in the sector.
Market research is an activity that is vital for all types of business. Any investment into market research can deliver usable insights only if the research was conducted with correct questions, right audience, appropriate tools, and then analyzed effectively. Outsource2india has been providing a wide range of research and analysis services to companies across the globe for 19 years. Our market research experts leverage the latest technologies to deliver accurate and cost-effective results in the shortest possible time. Apart from general market research, we also offer services like financial research, pharmaceutical research, business research, media research, and business analytics.
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