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Top 11 Market Research Trends in 2024 to Keep an Eye Out for

Market research is a continually evolving sector that has helped brands, organizations, individual researchers, the market research industry, and academicians stay above the curve. Research functions only grew in a global economy that took a significant hit in 2020. 

If anything, focusing on conducting smarter, more efficient, and impactful research has been on the rise. No longer has research stayed primitive with long boring surveys sent to thousands of respondents hoping for a response. Market research has evolved because the importance of insightful data is now evident to everyone. 

From transactional data to customer data, position metrics to consumer research, and opinion research to academic research, differentiating between the right data and noise has become extremely important. 

Therefore, conducting smarter research is now the need of the hour. In a mostly open-ended ecosystem, it is tough to get a consensus. Still, surprisingly enough, most researchers, brands, and facilitators of research agree on emerging trends to keep an eye out for in 2023 and beyond.

LEARN ABOUT: Market research vs marketing research

We have listed the research trends that we think will be the most defining factors for the global market research market in 2023 and beyond.

Top 11 Market Research Trends in 2023 to Keep an Eye Out for

Data can be construed differently by different people. What’s unchallengeable is that there is now a technological advancement in collecting and analyzing data. 

Social media plays a vital role in gathering sentiments; there is an advancement in psychological, economic, and scientific knowledge in data collection. These factors have led to market research evolution, and 2023 will see a marked shift in collecting transactional data. 

In no particular order you should keep an eye out for these research trends in 2023 and beyond to fortify your decision-making ability.

Smarter, shorter surveys

This trend gets talked about a lot, but the truth is that most researchers and research tools do not allow the ability to conduct smarter surveys. However, at the turn of 2020 and beyond, collecting the right data with good survey response rates and honest feedback is becoming increasingly important. 

Capturing transactional data at the point of experience with a smart, short, and efficient survey helps with better data collection and consumer insights. Negating demographic data collection when that information is already available and using smarter research questions at the point of experience will help reduce survey fatigue and collect data that matters.

For example, to collect choice-based data that is a cornerstone of most research projects, adding an anchored MaxDiff question in your choice-based scaling will allow you to get deeper insights without having to conduct multiple follow-up studies. 

Similarly, deploying omnichannel surveys at various touchpoints helps you collect the correct transactional data without compromising data quality.  

DIY in-house research 

For a long time, research has been considered a complex and labor-intensive process requiring extreme special qualifications to get right. In 2023, there will be a marked shift towards DIY in-house research with smarter research tools .

Simple to understand and deploy platforms without the need for complex scripting and powerful research questions is the way forward.

Conducting market research tools is the ability to collect quantitative and qualitative data with the bonus of having a good respondent base in one location. Gone are the days when each component required going to different platforms.

This will make the management of market research easier for all the stakeholders. DIY research and do-it-together (DIT) research, where the research tool provider chips with specialized research service

Longitudinal tracking

One of the biggest market research trends going into 2023 and beyond will be longitudinal studies and tracking. For far too long, research has relied on broken-down respondent sets that do not help gather a macro-level view of data and insights.

With the help of community management platforms , longitudinal research helps track behavior changes and derive market research industry trends in between external and internal factors on research and insights.

LEARN ABOUT:  Market research industry

Not just that, longitudinal tracking also helps with quicker and faster turnaround research from members who matter the most to you and insights you can trust and co-create with. Having a ready set of opt-in research-ready respondents can help with ongoing monitoring studies and expedite your experience transformation initiatives. 

Online qualitative research

One market research trend that has been a definite by-product impact of COVID-19 is online qualitative research. With limitations on in-person focus groups and other qualitative research methods, migrating this model online for continued tracking is the only option.

LEARN ABOUT: Qualitative Interview

But now that online focus groups are making an in-road in research models for research managers globally, there is a definite shift in understanding its value and importance. From using the right tool to manage data collection to gamification and digital rewards, moving your offline focus groups online has multiple benefits.

The ability to moderate video discussions while collecting data from a diverse target audience limited by geographical boundaries is a huge bonus.

Quality data collection

In a recent live video I did with the VP of Products at QuestionPro, Anup Surendran, we spoke about how hyper-personalization will help with better-quality data and insights. Going into 2023 and beyond, with the increase in the number of surveys a person is expected to respond to, standing out and collecting quality data will be challenging.

Personalizing data collection at the point of experience with intercept studies and smarter shorter surveys helps with data collection.

High-quality survey data reduces the time to market and aids insights management at costs that don’t cost an arm and a leg. Putting together studies that aid with high-frequency research and non-intrusive hyper-personalization will see higher levels of success going into 2023 and beyond. 

Instant responses 

Heading to a meeting and want some quick insights? Cannot choose between two names for a new product line and want quick responses?

Who wouldn’t like immediate insights from a group of respondents when you are stuck somewhere? In 2023, there will be a marked shift towards high-cadence, high-frequency studies with very high turnaround times. 

Small surveys or polls that are set up and deployed within minutes and answers and analysis within minutes are the future of market research. Using a smart product that allows you to tap into a pre-defined and mobile-ready respondent population, the scope for quick turnaround studies is very high.

Using your existing technology stack and internal communication tools, and CRM, the use cases would be limitless if you could create and push out studies that offer you responses representing a larger population. 

We at QuestionPro are building a mechanism that provides you with quick turnaround response times for short studies using our proprietary global panel of respondents to help you go from perceptions to decisions within minutes. 

Non-intrusive transactional studies

The biggest pet peeve of people not wanting to participate in research studies and respond to surveys is the many pointless questions and many such surveys.

But what if you could gather customer delight with a customer experience platform that leverages non-intrusive transactional studies that are highly engaging, short, and compelling to respond to? 

There will be a marked shift towards smarter customer engagement and monitoring studies that do not require respondents to fill in pointless surveys that include demographic data and repetitive information and can help manage customer satisfaction and legitimate NPS scores.  

With the help of smart intercept studies, scores from across various touchpoints help draw a better understanding of customer delight and help show vectors and factors that could lead to customer churn. 

Emotive surveys

One of the biggest trends in market research that I am most excited about is the added use of technology to capture respondent behavior and data with various factors like facial recognition and contactless surveys . 

Surveys that help you capture customer insights where respondents do not have to interact with an external device and sentiments directly are captured just by facial and visual cues will be extremely important going into 2023 and beyond.

A simple question, for example, at a point of experience where facial recognition captures respondent sentiments will go a long way in offering mature insights for brands.

Crowdsourced research 

Crowdsourcing in market research helps solve problems at scale with lower costs and makes it to our top 11 market research trends to keep an eye out for 2023. Since crowdsourcing uses the quali-quant method, the insights you can get from a diverse audience base are tremendous. 

Not only can it help solve problems, but it also helps to get an idea of a more extensive and varied population. The only drawback of this method is that for a brand to effectively leverage this model, there has to be an advantage of scale, which increases crowdsourcing’s success and feasibility.

Social listening 

Due to a large social media footprint, it is becoming increasingly important to listen to social media’s happening and derive sentiments from conversations. Since social media is highly emotive, there is a broader scope to get to the root of ideas, complaints, purchase behavior, macro, and micro trends, etc. 

Using social listening, you can isolate the data you care about and look for short-term indicators around consumer research. This is the future of ethnographic research. While social listening doesn’t make sense for all market researchers and brands, if done well, it can help to identify actionable vectors at a very early stage. 

AI-assisted data collection

Two common themes arose from market research in 2020 – personalization and convenience. Using AI-assisted data collection helps in advancing research for brands and researchers. The right data going to the right stakeholders in real time define the success metrics of market research. 

By limiting human interactions but increasing milestones and points of experience-based smart research, there is greater success in collecting the right data. This helps focus on deriving insights from the data and not on the data collection itself.

For long-form data and open-ended data, AI-based research and sentiment analysis help derive insights from text-based data without intervening and manually interpreting it.

 How QuestionPro helps in market research trends?

QuestionPro is a comprehensive online survey and market research platform that provides a variety of features and tools to help organizations remain ahead of market research trends. Here’s how QuestionPro can assist you:

Advanced survey creation

QuestionPro makes developing surveys with skip logic, several question kinds, and advanced customization easy. This flexibility lets researchers build surveys that follow market research trends and best practices.

Mobile-friendly surveys

QuestionPro lets researchers design mobile surveys. Given the rising trend of mobile survey participation, this assures a smooth and easy survey experience for respondents.

Automated survey distribution

QuestionPro distributes surveys via email, social media, and embedded surveys. These distribution choices help researchers to contact more respondents through digital media.

Advanced analytics and reporting

QuestionPro has comprehensive analytics and reporting tools that allow researchers to examine survey data and provide actionable insights. Researchers can use trend analysis, cross-tabulations, and statistical analysis tools to find patterns, trends, and correlations in data.

2023 will be a huge year for market research, and we are excited to play a pivotal role in making research easy and accessible to everyone. What market research trends are you looking forward to, and are you keeping an eye out for going into 2023 and beyond?

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By examining market trend data, investors can have a better understanding of how various assets have performed over time and make more informed decisions about where to put their money.

Artificial intelligence is the market research trend. It saves time and money and may increase data quality. In fact, 31% of researchers and brands believe an automated data quality solution can alleviate multiple business difficulties.

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How to Do Market Research: The Complete Guide

Learn how to do market research with this step-by-step guide, complete with templates, tools and real-world examples.

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What are your customers’ needs? How does your product compare to the competition? What are the emerging trends and opportunities in your industry? If these questions keep you up at night, it’s time to conduct market research.

Market research plays a pivotal role in your ability to stay competitive and relevant, helping you anticipate shifts in consumer behavior and industry dynamics. It involves gathering these insights using a wide range of techniques, from surveys and interviews to data analysis and observational studies.

In this guide, we’ll explore why market research is crucial, the various types of market research, the methods used in data collection, and how to effectively conduct market research to drive informed decision-making and success.

What is market research?

Market research is the systematic process of gathering, analyzing and interpreting information about a specific market or industry. The purpose of market research is to offer valuable insight into the preferences and behaviors of your target audience, and anticipate shifts in market trends and the competitive landscape. This information helps you make data-driven decisions, develop effective strategies for your business, and maximize your chances of long-term growth.

Why is market research important? 

By understanding the significance of market research, you can make sure you’re asking the right questions and using the process to your advantage. Some of the benefits of market research include:

• Informed decision-making: Market research provides you with the data and insights you need to make smart decisions for your business. It helps you identify opportunities, assess risks and tailor your strategies to meet the demands of the market. Without market research, decisions are often based on assumptions or guesswork, leading to costly mistakes.
• Customer-centric approach: A cornerstone of market research involves developing a deep understanding of customer needs and preferences. This gives you valuable insights into your target audience, helping you develop products, services and marketing campaigns that resonate with your customers.
• Competitive advantage: By conducting market research, you’ll gain a competitive edge. You’ll be able to identify gaps in the market, analyze competitor strengths and weaknesses, and position your business strategically. This enables you to create unique value propositions, differentiate yourself from competitors, and seize opportunities that others may overlook.
• Risk mitigation: Market research helps you anticipate market shifts and potential challenges. By identifying threats early, you can proactively adjust their strategies to mitigate risks and respond effectively to changing circumstances. This proactive approach is particularly valuable in volatile industries.
• Resource optimization: Conducting market research allows organizations to allocate their time, money and resources more efficiently. It ensures that investments are made in areas with the highest potential return on investment, reducing wasted resources and improving overall business performance.
• Adaptation to market trends: Markets evolve rapidly, driven by technological advancements, cultural shifts and changing consumer attitudes. Market research ensures that you stay ahead of these trends and adapt your offerings accordingly so you can avoid becoming obsolete. 

As you can see, market research empowers businesses to make data-driven decisions, cater to customer needs, outperform competitors, mitigate risks, optimize resources and stay agile in a dynamic marketplace. These benefits make it a huge industry; the global market research services market is expected to grow from $76.37 billion in 2021 to $108.57 billion in 2026 . Now, let’s dig into the different types of market research that can help you achieve these benefits.

Types of market research 

• Qualitative research
• Quantitative research
• Exploratory research
• Descriptive research
• Causal research
• Cross-sectional research
• Longitudinal research

Despite its advantages, 23% of organizations don’t have a clear market research strategy. Part of developing a strategy involves choosing the right type of market research for your business goals. The most commonly used approaches include:

1. Qualitative research

Qualitative research focuses on understanding the underlying motivations, attitudes and perceptions of individuals or groups. It is typically conducted through techniques like in-depth interviews, focus groups and content analysis — methods we’ll discuss further in the sections below. Qualitative research provides rich, nuanced insights that can inform product development, marketing strategies and brand positioning.

2. Quantitative research

Quantitative research, in contrast to qualitative research, involves the collection and analysis of numerical data, often through surveys, experiments and structured questionnaires. This approach allows for statistical analysis and the measurement of trends, making it suitable for large-scale market studies and hypothesis testing. While it’s worthwhile using a mix of qualitative and quantitative research, most businesses prioritize the latter because it is scientific, measurable and easily replicated across different experiments.

3. Exploratory research

Whether you’re conducting qualitative or quantitative research or a mix of both, exploratory research is often the first step. Its primary goal is to help you understand a market or problem so you can gain insights and identify potential issues or opportunities. This type of market research is less structured and is typically conducted through open-ended interviews, focus groups or secondary data analysis. Exploratory research is valuable when entering new markets or exploring new product ideas.

4. Descriptive research

As its name implies, descriptive research seeks to describe a market, population or phenomenon in detail. It involves collecting and summarizing data to answer questions about audience demographics and behaviors, market size, and current trends. Surveys, observational studies and content analysis are common methods used in descriptive research. 

5. Causal research

Causal research aims to establish cause-and-effect relationships between variables. It investigates whether changes in one variable result in changes in another. Experimental designs, A/B testing and regression analysis are common causal research methods. This sheds light on how specific marketing strategies or product changes impact consumer behavior.

6. Cross-sectional research

Cross-sectional market research involves collecting data from a sample of the population at a single point in time. It is used to analyze differences, relationships or trends among various groups within a population. Cross-sectional studies are helpful for market segmentation, identifying target audiences and assessing market trends at a specific moment.

7. Longitudinal research

Longitudinal research, in contrast to cross-sectional research, collects data from the same subjects over an extended period. This allows for the analysis of trends, changes and developments over time. Longitudinal studies are useful for tracking long-term developments in consumer preferences, brand loyalty and market dynamics.

Each type of market research has its strengths and weaknesses, and the method you choose depends on your specific research goals and the depth of understanding you’re aiming to achieve. In the following sections, we’ll delve into primary and secondary research approaches and specific research methods.

Primary vs. secondary market research

Market research of all types can be broadly categorized into two main approaches: primary research and secondary research. By understanding the differences between these approaches, you can better determine the most appropriate research method for your specific goals.

Primary market research 

Primary research involves the collection of original data straight from the source. Typically, this involves communicating directly with your target audience — through surveys, interviews, focus groups and more — to gather information. Here are some key attributes of primary market research:

• Customized data: Primary research provides data that is tailored to your research needs. You design a custom research study and gather information specific to your goals.
• Up-to-date insights: Because primary research involves communicating with customers, the data you collect reflects the most current market conditions and consumer behaviors.
• Time-consuming and resource-intensive: Despite its advantages, primary research can be labor-intensive and costly, especially when dealing with large sample sizes or complex study designs. Whether you hire a market research consultant, agency or use an in-house team, primary research studies consume a large amount of resources and time.

Secondary market research 

Secondary research, on the other hand, involves analyzing data that has already been compiled by third-party sources, such as online research tools, databases, news sites, industry reports and academic studies.

Here are the main characteristics of secondary market research:

• Cost-effective: Secondary research is generally more cost-effective than primary research since it doesn’t require building a research plan from scratch. You and your team can look at databases, websites and publications on an ongoing basis, without needing to design a custom experiment or hire a consultant. 
• Leverages multiple sources: Data tools and software extract data from multiple places across the web, and then consolidate that information within a single platform. This means you’ll get a greater amount of data and a wider scope from secondary research.
• Quick to access: You can access a wide range of information rapidly — often in seconds — if you’re using online research tools and databases. Because of this, you can act on insights sooner, rather than taking the time to develop an experiment. 

So, when should you use primary vs. secondary research? In practice, many market research projects incorporate both primary and secondary research to take advantage of the strengths of each approach.

One rule of thumb is to focus on secondary research to obtain background information, market trends or industry benchmarks. It is especially valuable for conducting preliminary research, competitor analysis, or when time and budget constraints are tight. Then, if you still have knowledge gaps or need to answer specific questions unique to your business model, use primary research to create a custom experiment. 

Market research methods

• Surveys and questionnaires
• Focus groups
• Observational research
• Online research tools
• Experiments
• Content analysis
• Ethnographic research

How do primary and secondary research approaches translate into specific research methods? Let’s take a look at the different ways you can gather data: 

1. Surveys and questionnaires

Surveys and questionnaires are popular methods for collecting structured data from a large number of respondents. They involve a set of predetermined questions that participants answer. Surveys can be conducted through various channels, including online tools, telephone interviews and in-person or online questionnaires. They are useful for gathering quantitative data and assessing customer demographics, opinions, preferences and needs. On average, customer surveys have a 33% response rate , so keep that in mind as you consider your sample size.

2. Interviews

Interviews are in-depth conversations with individuals or groups to gather qualitative insights. They can be structured (with predefined questions) or unstructured (with open-ended discussions). Interviews are valuable for exploring complex topics, uncovering motivations and obtaining detailed feedback. 

3. Focus groups

The most common primary research methods are in-depth webcam interviews and focus groups. Focus groups are a small gathering of participants who discuss a specific topic or product under the guidance of a moderator. These discussions are valuable for primary market research because they reveal insights into consumer attitudes, perceptions and emotions. Focus groups are especially useful for idea generation, concept testing and understanding group dynamics within your target audience.

4. Observational research

Observational research involves observing and recording participant behavior in a natural setting. This method is particularly valuable when studying consumer behavior in physical spaces, such as retail stores or public places. In some types of observational research, participants are aware you’re watching them; in other cases, you discreetly watch consumers without their knowledge, as they use your product. Either way, observational research provides firsthand insights into how people interact with products or environments.

5. Online research tools

You and your team can do your own secondary market research using online tools. These tools include data prospecting platforms and databases, as well as online surveys, social media listening, web analytics and sentiment analysis platforms. They help you gather data from online sources, monitor industry trends, track competitors, understand consumer preferences and keep tabs on online behavior. We’ll talk more about choosing the right market research tools in the sections that follow.

6. Experiments

Market research experiments are controlled tests of variables to determine causal relationships. While experiments are often associated with scientific research, they are also used in market research to assess the impact of specific marketing strategies, product features, or pricing and packaging changes.

7. Content analysis

Content analysis involves the systematic examination of textual, visual or audio content to identify patterns, themes and trends. It’s commonly applied to customer reviews, social media posts and other forms of online content to analyze consumer opinions and sentiments.

8. Ethnographic research

Ethnographic research immerses researchers into the daily lives of consumers to understand their behavior and culture. This method is particularly valuable when studying niche markets or exploring the cultural context of consumer choices.

How to do market research

• Set clear objectives
• Identify your target audience
• Choose your research methods
• Use the right market research tools
• Collect data
• Analyze data 
• Interpret your findings
• Identify opportunities and challenges
• Make informed business decisions
• Monitor and adapt

Now that you have gained insights into the various market research methods at your disposal, let’s delve into the practical aspects of how to conduct market research effectively. Here’s a quick step-by-step overview, from defining objectives to monitoring market shifts.

1. Set clear objectives

When you set clear and specific goals, you’re essentially creating a compass to guide your research questions and methodology. Start by precisely defining what you want to achieve. Are you launching a new product and want to understand its viability in the market? Are you evaluating customer satisfaction with a product redesign? 

Start by creating SMART goals — objectives that are specific, measurable, achievable, relevant and time-bound. Not only will this clarify your research focus from the outset, but it will also help you track progress and benchmark your success throughout the process. 

You should also consult with key stakeholders and team members to ensure alignment on your research objectives before diving into data collecting. This will help you gain diverse perspectives and insights that will shape your research approach.

2. Identify your target audience

Next, you’ll need to pinpoint your target audience to determine who should be included in your research. Begin by creating detailed buyer personas or stakeholder profiles. Consider demographic factors like age, gender, income and location, but also delve into psychographics, such as interests, values and pain points.

The more specific your target audience, the more accurate and actionable your research will be. Additionally, segment your audience if your research objectives involve studying different groups, such as current customers and potential leads.

If you already have existing customers, you can also hold conversations with them to better understand your target market. From there, you can refine your buyer personas and tailor your research methods accordingly.

3. Choose your research methods

Selecting the right research methods is crucial for gathering high-quality data. Start by considering the nature of your research objectives. If you’re exploring consumer preferences, surveys and interviews can provide valuable insights. For in-depth understanding, focus groups or observational research might be suitable. Consider using a mix of quantitative and qualitative methods to gain a well-rounded perspective. 

You’ll also need to consider your budget. Think about what you can realistically achieve using the time and resources available to you. If you have a fairly generous budget, you may want to try a mix of primary and secondary research approaches. If you’re doing market research for a startup , on the other hand, chances are your budget is somewhat limited. If that’s the case, try addressing your goals with secondary research tools before investing time and effort in a primary research study. 

4. Use the right market research tools

Whether you’re conducting primary or secondary research, you’ll need to choose the right tools. These can help you do anything from sending surveys to customers to monitoring trends and analyzing data. Here are some examples of popular market research tools:

• Market research software: Crunchbase is a platform that provides best-in-class company data, making it valuable for market research on growing companies and industries. You can use Crunchbase to access trusted, first-party funding data, revenue data, news and firmographics, enabling you to monitor industry trends and understand customer needs.

• Survey and questionnaire tools: SurveyMonkey is a widely used online survey platform that allows you to create, distribute and analyze surveys. Google Forms is a free tool that lets you create surveys and collect responses through Google Drive.
• Data analysis software: Microsoft Excel and Google Sheets are useful for conducting statistical analyses. SPSS is a powerful statistical analysis software used for data processing, analysis and reporting.
• Social listening tools: Brandwatch is a social listening and analytics platform that helps you monitor social media conversations, track sentiment and analyze trends. Mention is a media monitoring tool that allows you to track mentions of your brand, competitors and keywords across various online sources.
• Data visualization platforms: Tableau is a data visualization tool that helps you create interactive and shareable dashboards and reports. Power BI by Microsoft is a business analytics tool for creating interactive visualizations and reports.

5. Collect data

There’s an infinite amount of data you could be collecting using these tools, so you’ll need to be intentional about going after the data that aligns with your research goals. Implement your chosen research methods, whether it’s distributing surveys, conducting interviews or pulling from secondary research platforms. Pay close attention to data quality and accuracy, and stick to a standardized process to streamline data capture and reduce errors. 

6. Analyze data

Once data is collected, you’ll need to analyze it systematically. Use statistical software or analysis tools to identify patterns, trends and correlations. For qualitative data, employ thematic analysis to extract common themes and insights. Visualize your findings with charts, graphs and tables to make complex data more understandable.

If you’re not proficient in data analysis, consider outsourcing or collaborating with a data analyst who can assist in processing and interpreting your data accurately.

7. Interpret your findings

Interpreting your market research findings involves understanding what the data means in the context of your objectives. Are there significant trends that uncover the answers to your initial research questions? Consider the implications of your findings on your business strategy. It’s essential to move beyond raw data and extract actionable insights that inform decision-making.

Hold a cross-functional meeting or workshop with relevant team members to collectively interpret the findings. Different perspectives can lead to more comprehensive insights and innovative solutions.

8. Identify opportunities and challenges

Use your research findings to identify potential growth opportunities and challenges within your market. What segments of your audience are underserved or overlooked? Are there emerging trends you can capitalize on? Conversely, what obstacles or competitors could hinder your progress?

Lay out this information in a clear and organized way by conducting a SWOT analysis, which stands for strengths, weaknesses, opportunities and threats. Jot down notes for each of these areas to provide a structured overview of gaps and hurdles in the market.

9. Make informed business decisions

Market research is only valuable if it leads to informed decisions for your company. Based on your insights, devise actionable strategies and initiatives that align with your research objectives. Whether it’s refining your product, targeting new customer segments or adjusting pricing, ensure your decisions are rooted in the data.

At this point, it’s also crucial to keep your team aligned and accountable. Create an action plan that outlines specific steps, responsibilities and timelines for implementing the recommendations derived from your research. 

10. Monitor and adapt

Market research isn’t a one-time activity; it’s an ongoing process. Continuously monitor market conditions, customer behaviors and industry trends. Set up mechanisms to collect real-time data and feedback. As you gather new information, be prepared to adapt your strategies and tactics accordingly. Regularly revisiting your research ensures your business remains agile and reflects changing market dynamics and consumer preferences.

Online market research sources

As you go through the steps above, you’ll want to turn to trusted, reputable sources to gather your data. Here’s a list to get you started:

• Crunchbase: As mentioned above, Crunchbase is an online platform with an extensive dataset, allowing you to access in-depth insights on market trends, consumer behavior and competitive analysis. You can also customize your search options to tailor your research to specific industries, geographic regions or customer personas.

• Academic databases: Academic databases, such as ProQuest and JSTOR , are treasure troves of scholarly research papers, studies and academic journals. They offer in-depth analyses of various subjects, including market trends, consumer preferences and industry-specific insights. Researchers can access a wealth of peer-reviewed publications to gain a deeper understanding of their research topics.
• Government and NGO databases: Government agencies, nongovernmental organizations and other institutions frequently maintain databases containing valuable economic, demographic and industry-related data. These sources offer credible statistics and reports on a wide range of topics, making them essential for market researchers. Examples include the U.S. Census Bureau , the Bureau of Labor Statistics and the Pew Research Center .
• Industry reports: Industry reports and market studies are comprehensive documents prepared by research firms, industry associations and consulting companies. They provide in-depth insights into specific markets, including market size, trends, competitive analysis and consumer behavior. You can find this information by looking at relevant industry association databases; examples include the American Marketing Association and the National Retail Federation .
• Social media and online communities: Social media platforms like LinkedIn or Twitter (X) , forums such as Reddit and Quora , and review platforms such as G2 can provide real-time insights into consumer sentiment, opinions and trends. 

Market research examples

At this point, you have market research tools and data sources — but how do you act on the data you gather? Let’s go over some real-world examples that illustrate the practical application of market research across various industries. These examples showcase how market research can lead to smart decision-making and successful business decisions.

Example 1: Apple’s iPhone launch

Apple ’s iconic iPhone launch in 2007 serves as a prime example of market research driving product innovation in tech. Before the iPhone’s release, Apple conducted extensive market research to understand consumer preferences, pain points and unmet needs in the mobile phone industry. This research led to the development of a touchscreen smartphone with a user-friendly interface, addressing consumer demands for a more intuitive and versatile device. The result was a revolutionary product that disrupted the market and redefined the smartphone industry.

Example 2: McDonald’s global expansion

McDonald’s successful global expansion strategy demonstrates the importance of market research when expanding into new territories. Before entering a new market, McDonald’s conducts thorough research to understand local tastes, preferences and cultural nuances. This research informs menu customization, marketing strategies and store design. For instance, in India, McDonald’s offers a menu tailored to local preferences, including vegetarian options. This market-specific approach has enabled McDonald’s to adapt and thrive in diverse global markets.

Example 3: Organic and sustainable farming

The shift toward organic and sustainable farming practices in the food industry is driven by market research that indicates increased consumer demand for healthier and environmentally friendly food options. As a result, food producers and retailers invest in sustainable sourcing and organic product lines — such as with these sustainable seafood startups — to align with this shift in consumer values. 

The bottom line? Market research has multiple use cases and is a critical practice for any industry. Whether it’s launching groundbreaking products, entering new markets or responding to changing consumer preferences, you can use market research to shape successful strategies and outcomes.

Market research templates

You finally have a strong understanding of how to do market research and apply it in the real world. Before we wrap up, here are some market research templates that you can use as a starting point for your projects:

• Smartsheet competitive analysis templates : These spreadsheets can serve as a framework for gathering information about the competitive landscape and obtaining valuable lessons to apply to your business strategy.
• SurveyMonkey product survey template : Customize the questions on this survey based on what you want to learn from your target customers.
• HubSpot templates : HubSpot offers a wide range of free templates you can use for market research, business planning and more.
• SCORE templates : SCORE is a nonprofit organization that provides templates for business plans, market analysis and financial projections.
• SBA.gov : The U.S. Small Business Administration offers templates for every aspect of your business, including market research, and is particularly valuable for new startups. 

Strengthen your business with market research

When conducted effectively, market research is like a guiding star. Equipped with the right tools and techniques, you can uncover valuable insights, stay competitive, foster innovation and navigate the complexities of your industry.

Throughout this guide, we’ve discussed the definition of market research, different research methods, and how to conduct it effectively. We’ve also explored various types of market research and shared practical insights and templates for getting started. 

Now, it’s time to start the research process. Trust in data, listen to the market and make informed decisions that guide your company toward lasting success.

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106+ Market Research Statistics: Market Size, Trends & Growth

Dive into the power of market research statistics, your compass in a dynamic business world. Learn how data-driven insights transform challenges into opportunities, guiding your path to resilience and growth.

Top Stats At A Glance

• The global market research industry generates more than $118 billion in annual revenue. 1
• Pharmaceutical companies account for 16.6% of global market research spending . 1
• 89% of market research suppliers and clients regularly use online surveys. 2
• 23% of organizations don’t have a clear market research strategy. 3
• 71% of market researchers are investing in CX software. 3

In the fast-paced realm of business, where change is constant and competition is fierce, market research statistics serve as the guiding stars for successful enterprises.

These statistics are the pulse of consumer behavior, industry trends, and strategic opportunities, providing businesses with the insights needed to navigate complexities and make informed decisions. This article explores the pivotal role of market research statistics in today's dynamic landscape.

Do you know? 👇🏻

What market share does the United States hold for market research?

The United States has a 53% market share in the market research industry.

From decoding consumer preferences to staying ahead of competitors, we'll uncover how leveraging statistical data can be a game-changer for businesses aiming not just to survive but to thrive in the modern marketplace. Join us as we unravel the transformative potential of data-driven decision-making.

General Market Research Industry Statistics 💨

Market research trends 📈, market research approaches 📝, wrapping up 🎁.

This section delves into the overarching trends, shifts, and dynamics that shape the global market research industry. Beyond the numbers, it unravels the intricate tapestry of challenges, successes, and the pivotal role market research plays in guiding business decisions.

• The global market research industry boasts an annual revenue exceeding $118 billion , with the United States alone contributing $62.64 billion to this total. 1
• Demonstrating a remarkable upward trajectory, global market research revenue has surged by 358% since 2009. 1
• Nielsen, securing its position as the leading market research company for the 6th consecutive year, reported $5.24 billion in revenue. 1
• Following closely, IQVIA secured a strong position as a top performer with $5.21 billion in revenue. 1
• Gartner demonstrated impressive financial performance, reporting $4.73 billion in revenue. 1
• SalesForce performed well, achieving a revenue of $3.9 billion . 1
• Adobe Systems also stood out as a top performer, with reported revenue of $3.87 billion . 1

• The United States dominates the market research industry with a substantial 53% market share, leaving the United Kingdom as its closest competitor with a 9% market share. 1
• Notable global market shares include China ( 3% ), India ( 2% ), and Australia ( 2% ), while the rest of the world collectively contributes 31% to the overall market. 1
• A significant portion, 20% of global market research spending , is allocated to CRM and customer satisfaction surveys. 1

• The majority, over 70% , of market research spending focuses on five key areas. 1
• The largest portion, 20.7% , is allocated to CRM and customer satisfaction surveys.
• User experience surveys account for 14.2% of market research spending .
• Audience research is a significant focus, representing 13.4% of the total spending .
• Usage and behavioral studies contribute significantly, comprising 11.7% of market research spending .
• Market measurement is also a priority, accounting for 11.6% of the overall spending .

Key Areas Of Market Research Spending

• Pharmaceutical companies take the lead, accounting for 16.6% of global market research spending . 1
• The primary contributors to market research spending are pharmaceutical companies ( 16.6% ), media and entertainment groups ( 15.5% ), and consumer goods producers ( 14.9% ). 1
• Other contributors include research institutes ( 1.8% ), tourism and recreation ( 1.6% ), and non-profit organizations ( 0.9% ). 1

In the realm of market research

70% of buyers prioritize business knowledge as a top skill for development, a sentiment shared by 56% of suppliers.

• Despite the industry's dynamism, 23% of organizations lack a clear market research strategy, and 26% of market researchers identify budget constraints as a hindrance to their strategies. 3

What is the global annual revenue of the market research industry, and how has it evolved over the years?

The global market research industry generates over $118 billion in annual revenue, reflecting a remarkable 358% increase since 2009.

Which country holds the largest market share in the market research industry, and what is the significance of its dominance?

The United States commands a substantial 53% market share in the market research industry, surpassing its closest competitor, the United Kingdom, which holds a 9% market share .

How is market research spending allocated across different sectors, and what are the key areas that attract the majority of investment?

Over 70% of all market research spending is directed towards five key areas: CRM and customer satisfaction surveys ( 20.7% ), user experience surveys ( 14.2% ), audience research ( 13.4% ), usage and behavioral studies ( 11.7% ), and market measurement ( 11.6% ).

Embarking on an exploration of Market Research Trends opens a window into the ever-evolving landscape where insights are gleaned and strategies are honed. In this section, we delve into the dynamic shifts that shape the methodologies and approaches within the market research sphere.

A substantial 90% of market researchers express regular utilization of online surveys. 4

• Industry experts predict a steady annual growth of 16% in the popularity of the online survey market until 2026. 4
• In contrast, only 60% of market researchers report regular use of mobile surveys. 4
• A significant 80% of market researchers express interest in acquiring best practice solutions for multicultural insights, research, and strategy. 5

of market researchers indicating increased usage of online/video focus groups compared to three years ago.

• Moreover, 90% are utilizing consumers' online video submissions and in-depth video interviews more frequently than in the past three years. 6
• A noteworthy shift is observed, with over half of market researchers estimating a decrease in their reliance on full-service research vendors. 7
• The inclination toward Do-It-Yourself (DIY) tools is prominent, as 70% of market researchers express a likelihood of transitioning to more DIY tools in the coming year. 7
• Despite a continued demand for market research, 56% of companies grapple with limited or shrinking budgets. 7
• The industry undergoes transformation as 60% of market researchers acknowledge that automation accelerates result delivery. 8
• Cost reduction benefits are reported by 50% of market researchers as a direct outcome of automation integration. 8
• A strong consensus of 80% of market researchers predicts the continued growth of automation as a prominent trend in the industry. 8

How prevalent are online surveys in current market research practices, and what is the projected growth of the online survey market?

Online surveys are extensively utilized, with nearly 90% of market researchers reporting regular use. The online survey market is expected to experience a robust 16% annual growth through 2026.

What level of interest exists among market researchers regarding multicultural insights, and how is this reflected in current industry trends?

A significant 80% of market researchers express interest in learning best practice solutions for multicultural insights, research, and strategy, indicating a growing focus on diverse perspectives within the industry.

How is the industry responding to the trend of increasing automation in market research, and what benefits do market researchers associate with this shift?

Automation is reshaping market research, with 60% of researchers leveraging it to deliver results faster, 50% experiencing cost reduction benefits, and an overwhelming 80% foreseeing continued growth in this transformative trend.

As technology evolves, so do the tools at the disposal of market researchers, and this journey through approaches illuminates the varied paths they navigate in the pursuit of comprehensive understanding.

• A significant 89% of both market research suppliers and clients regularly employ online surveys in their methodologies. 2
• Mobile surveys emerge as a widely adopted approach, with 60% of both clients and suppliers incorporating them into regular use. 2
• Proprietary panels gain prominence, with 45% of clients and suppliers reporting regular utilization of this market research approach. 2
• Online communities play a significant role, with 31% of clients and suppliers regularly employing them as part of their market research strategies. 2

• Online in-depth interviews conducted via webcam are a prevalent choice, with 41% of both clients and suppliers routinely employing this method.
• Online focus groups conducted through webcam interactions are widely used, with 40% of clients and suppliers regularly engaging in this qualitative market research approach.
• Online communities play a significant role, with 35% of clients and suppliers routinely utilizing them for qualitative market research.
• Telephone in-depth interviews constitute a notable approach, with 31% of both clients and suppliers incorporating them into their qualitative research strategies.
• In-person focus groups remain relevant, with 31% of clients and suppliers regularly opting for this traditional qualitative research method.

Utilization Of Qualitative Market Research Approaches

• The emergence of mobile-first surveys is noteworthy, with 64% already incorporating this technology, and an additional 13% considering its adoption in the near future. 2
• Customer surveys exhibit a 33% average response rate, with in-person surveys leading with the highest response rates at 57% . Conversely, in-app surveys perform less favorably with just a 13% response rate. 9
• A substantial 56.6% of global survey responses originate from mobile devices, surpassing the 40.2% from non-mobile users. 9
• Post the peak in May 2020, less than 2% of contemporary surveys make mention of the COVID-19 pandemic. 8
• A significant 71% of market researchers are investing in Customer Experience (CX) software, with other top investment areas including online consumer panels ( 69% ), market research online communities ( 63% ), and product testing software ( 62% ). 3

What is the prevalence of online surveys in market research, and how do they compare to other approaches?

Online surveys dominate market research approaches, with 89% of both suppliers and clients regularly utilizing them. Additional noteworthy approaches include mobile surveys ( 60% ), proprietary panels ( 45% ), and online communities ( 31% ).

How do different survey types vary in terms of response rates, and what are the preferred methods among respondents?

In-person surveys exhibit the highest response rates at 57% , outperforming other types such as mail surveys ( 50% ), email surveys ( 30% ), online surveys ( 29% ), and telephone surveys ( 18% ). In-app surveys have the lowest response rate at 13% .

What emerging trends are shaping market research, and how are researchers adapting to technological advancements?

A notable trend is the rise of mobile-first surveys, with 64% already incorporating this technology. Additionally, 56.6% of global survey responses come from mobile devices. Beyond survey methods, 71% of market researchers are investing in Customer Experience (CX) software, indicative of the industry's embrace of technological advancements.

In the dynamic world of market research statistics, the prevalence of online surveys, the rise of mobile-first approaches, and strategic investments in Customer Experience (CX) software paint a picture of an industry navigating consumer trends and technological shifts.

These numbers aren't just data; they signify an adaptable industry shaping the strategies of the future. As we wrap up this exploration, market research stands as a powerful tool, continuously innovating in the ever-evolving landscape of business decision-making.

• Market Research Services Global Market Report by Globenewswire
• BUSINESS & INNOVATION by Greenbook
• Market Research Trends by Qualtrics
• Market Research Industry by Statista
• A Diversity Tool for Market Research and Insights Professionals by Medium
• Market Research Transcription Services by Verbit
• Market Research Survival Guide by Surveymonkey
• Marketing Research And Automation Can Co-Exist by Quirks
• What’s The Average Survey Response Rate? by Pointerpro

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Market research industry - statistics & facts

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Revenue of the market research industry worldwide from 2008 to 2023 with a forecast for 2024 (in billion U.S. dollars)

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Revenue of the market research industry worldwide from 2009 to 2022, by country or region (in billion U.S. dollars)

Distribution of global market research revenue by region 2022

Distribution of global market research revenue in 2022, by region

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Leading market research companies worldwide by global research revenue 2016-2022

Leading market research companies worldwide from 2016 to 2022, by global research revenue (in billion U.S. dollars)

Global leaders

• Premium Statistic Revenue of Kantar worldwide 2006-2023
• Premium Statistic Research revenue of IQVIA worldwide 2013-2023
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• Premium Statistic Revenue of Ipsos worldwide 2000-2023
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Revenue of Kantar worldwide 2006-2023

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Research methods

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Emerging research approaches used in the market research industry worldwide in 2022

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6 Market Research Industry Trends to Watch in 2022

Market researchers are experienced at studying trends to uncover customer preferences and needs, both current and future. But what about trends in the market research industry itself? We decided to turn the figurative camera around and ask six market research and insights leaders what trends they think will shape their industry in 2022 and beyond.

While each professional offered a different perspective, it was interesting to see several commonalities emerging. One thing that became clear across predictions was that while technology is enabling market research professionals to work more efficiently, analyze larger volumes of data, and make data-backed recommendations, the industry is still highly focused on the human –on both the employee and customer side.

You can check out the six predictions for 2022 market research trends below.

Taking Action: Inclusivity and Sustainability

Over the past several years, many market research teams have been taking a critical look at the ways they approach diversity, equity, and inclusion (both in their research and the workplace) as well as environmental sustainability. Zontziry ‘Z’ Johnson , co-host of the podcast MRXplorer , predicts that 2022 is the year these teams start putting DE&I and sustainability plans into action:

I think–and hope–2022 is the year we see the shift from talking about how to be more inclusive in our research and how to be more environmentally friendly in the ways we do business, to taking actions to improve. This includes putting better research practices into place, such as expanding the panel providers client-side researchers work with to improve the representativeness of their research; changing the way we ask demographic questions so they are more inclusive and therefore more reflective of our world; and maybe even seeing a balance of in-person events and the far more accessible virtual events to reduce the carbon footprint we create at the industry level. 

Empathy in Designing and Delivering Insights

As businesses shifted to working remotely and research teams recalibrated their priorities and methodologies in response to the covid-19 pandemic, the need to practice empathy came into sharp focus. Now, as many organizations shift to hybrid work models and in-person research slowly starts to come back, empathy must remain a priority. Danielle Todd , Head of Client Strategy at Relish , says:

Working at home blurred the line between professional and personal, and put a fresh lens on the importance of taking care of our whole selves, our families and communities, and our businesses. Whether that be through how we approach client challenges, or how we collaborate and work, or the pace we work at; the foundational driver in what we do should always be empathy. Empathy in the workplace is positively linked to employee happiness and performance , and (unsurprisingly) the associated positive impact on the bottom line is well appreciated and established. I imagine, after a particularly trying year, 2022 will focus on rebuilding businesses, brands, and teams with a well-deserved focus on empathy in how we design and deliver insight.

Social Listening Takes Center Stage

Social listening–the practice of monitoring and analyzing social media conversations about a brand or industry–is not new in the world of market research, but it may become an increasingly popular approach to understanding customers at a time when the average internet user spends almost two and a half hours on social media every day. Patrick Casey, Director of Growth Marketing at Felix Health , says:

In 2022, I forecast a greater demand in market research for social listening tools. Billions of people are creating and consuming content for social media on a daily basis. With the unveiling of the Metaverse, the lines between ‘real’ and ‘virtual’ may continue to be blurred even further. This could create a cornucopia of new, uncharted consumer insights and behavior metrics for marketers to research and discover as users explore a heavily augmented virtual reality. For the market research industry, this means that monitoring the popularity of search terms, brands, and phrases is a must if you wish to create relevant, multi-modal content for your target audience. With social listening tools, you can get an overview of these online conversations from a bird’s eye view, giving you an idea of market sentiment, short-term trends, and actionable opportunities.

User-Generated Content as a Data Source

With data privacy becoming an increasingly bigger concern for consumers, market researchers must focus on obtaining data from users who have actively opted in. Paul Sherman, CMO at Olive , believes that one of the ways market researchers will do this is by encouraging the sharing of user-generated content:

The defining trend of market research and customer insights in 2022 will be figuring out different ways to obtain customer data. Now that Google has cracked down on third-party cookies in Chrome and Apple has increased app-tracking privacy on their devices, companies have to find new and less intrusive ways to obtain web user data. I expect user-generated content to be the primary solution to this because customers give the data to you voluntarily while also having fun creating their own content (e.g. videos, written stories, etc.).

DSIGHT: Decision as Connected to Insight

It’s not just the ways that insights professionals collect data and conduct research that are evolving: it’s also the ways they share their findings with stakeholders and drive decisions. Dr. Eugene Roytburg, Co-Founder and CEO of Clearbox Decisions , believes the biggest trend we’ll see in 2022 is what he calls DSIGHT:

DSIGHT, a concatenation of D ecisions based on in SIGHT , will revolutionize how decisions will be made in the future with technology and AI to automate the bottom of the insights value chain (connecting and synthesizing data points via decision trees). This will free up and also guide insights professionals to drive insights creation, implications, recommendations and eventually, business decisions. Stronger and better conclusions and decisions will be more cost-effective and efficient by leveraging decision trees and cutting-edge AI technology.

Source: Clearbox Decisions

Balancing People and Technology

AI, technology, and automation are helping market research teams process large volumes of data, cut down on research project timelines, democratize insights across stakeholder groups, and drive decisions, but AI also provides insights professionals the ability to influence more than just marketing decisions across the business. In 2022, insights leaders will drive insights adoption across functional areas, and evolve into a truly insights- and marketing-led culture. According to Larisa Mats, Head of Consumer Insights at Brunswick (a Bloomfire customer):

In my experience, businesses are always trying to do more with the same (or fewer) people. The role of insights professionals continues to evolve with technological advances, but you still need human capital to think strategically and program machines. Developing deep consumer insights and applying them to the business in a strategic, thoughtful, carefully considered way to optimize brand growth will continue to rely on insights partners and thought leaders in the consumer research space. New tools, data streams, and technologies are a great start, but deep-rooted culture change requires work: finding insights champions on the brand/business teams, immersing them in the latest research and where to find it, brainstorming ways to build strategic action plans based on this new information, demonstrating the value of insights so it becomes embedded in their decision-making process. To maximize the utility of a knowledge platform like Bloomfire, business leaders across all levels and functional areas need to use the platform to share information and best practices, exchange ideas and collaborate–that is the power of democratizing knowledge.

​​Keeping an Eye on Market Research Trends in 2022

From an increasing focus on inclusivity and empathy to the adoption of insights sharing technologies that can be leveraged across teams, the trends that we’re seeing in market research now have the power to transform the industry. We’re excited to see what 2022 and the years to come bring, and we want to thank the market research professionals who shared their predictions with us. 

We first published our annual blog post on market research trends in 2020. We updated it with all new trends and predictions in December 2021.

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Market Research Report

2021 market research global trends.

For market researchers, COVID-19 accelerated a transformation that’s been a decade in the making — and it will completely reshape the industry in the coming years.

In our first annual study into the state of the market research industry, we surveyed more than 2,000 market research professionals from 16 countries to better understand how the industry reacted to COVID-19 in 2020 and how the dynamics of market research have changed.

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Table of Contents

30 market research statistics, facts and trends for 2024.

June 3, 2024

Key Market Research Statistics for 2024

• 23% of organizations lack a clear market research strategy. (Source: Qualtrics )
• 22% of market researchers face challenges with data quality, despite having access to the right tools. (Source: Qualtrics )
• Only 1 in 3 customer surveys receive a response. (Source: Pointerpro )
• Market research clients prioritize business knowledge as the most demanded skill. (Source: GreenBook )
• Roughly 47% of researchers worldwide report regular use of AI in their market research activities. (Source: Backlinko )
• In market research, a large number of survey respondents doesn’t guarantee high-quality data. (Source: AIMultiple )
• 70% of market research spending is allocated to 5 key areas: CRM and customer satisfaction surveys (20.7%), user experience surveys (14.2%), audience research (13.4%), usage and behavioral studies (11.7%), and market measurement (11.6%).  (Source: Exploding Topics )

Market Research Industry Growth Statistics

• The global market research industry grew by 8.4% annually. (Source: Statista )
• The revenue of the US Market Research Industry has increased at a 2.9% CAGR over five years, reaching an estimated $30.9 billion in 2023. (Source: IBISWorld )
• The United States saw the highest growth in market research revenue, while Africa, the Middle East, and the rest of the Americas experienced negative growth rates of -6% and -2.8%, respectively. (Source: Statista )
• Norway led European market research growth at almost 12%, followed by Ireland at 6.1%. (Source: Statista )

Market Research Industry Size Statistics and Facts

• In 2023, the global market research industry reached a record market size of about $84.3 billion. (Source: Statista )
• In 2023, the Market Research industry in the US employed 129,000 individuals.  (Source: IBISWorld )
• Leading market research companies include Kantar (UK), Gartner (US), IQVIA (US), Ipsos (France), and Salesforce (US). (Source: Statista )
• Approximately 17% of market research spending came from the Pharma sector, and nearly 16% from media and entertainment. (Source: Statista )
• 26% anticipate that AI will generate more market research jobs, while 35% predict a decrease; and 39% foresee no change. (Source: Qualtrics )

Market Research Industry Revenue Statistics

• The market research industry’s global revenue surpassed $84 billion in 2023, doubling since 2008. (Source: Statista )
• Ranked by market research turnover, the US market leads with $48 billion, followed by the UK ($9.1 billion) and China ($2.88 billion). (Source: Backlinko )
• North America leads in market research revenue, with over half of the total, followed by Europe with around one-quarter. (Source: Statista )
• Social media monitoring generated 2.7% of global market research revenue.  (Source: Statista )
• The global market research industry generates over $118 billion in annual revenue. (Source: Exploding Topics )

Market Research Methods Statistics

• 85% of suppliers and clients regularly use online surveys among their top 3 methods. (Source: Statista )
• A study finds that the average online survey response rates are 46% in the US, 36% in the UK, and 33% in the Netherlands. (Source: AIMultiple )
• Online or mobile quantitative research claimed 36% of US market research spending, while social media monitoring constituted merely 1%. (Source: Statista )
• 95% of market researchers favored online surveys, while data visualization or dashboards ranked second with a 90% response rate. (Source: Statista )
• Only 24% of market research professionals integrate customer feedback data into their decision-making processes. (Source: AIMultiple )

Market Research Industry Trends

• Research gamification emerged as the most used approach in the global market research industry, with nearly 40% of market researchers employing it. (Source: Statista )
• Online surveys dominated as the most used traditional qualitative methodology in the global market research industry. (Source: Statista )
• 90% of market researchers believe AI will significantly impact the industry within five years, but only 30% understand its potential outcome. (Source: Qualtrics )
• Market research shows that surveys are used by 95% of B2B firms to measure customer feedback. (Source: AIMultiple )

McKinsey Technology Trends Outlook 2023

After a tumultuous 2022 for technology investment and talent, the first half of 2023 has seen a resurgence of enthusiasm about technology’s potential to catalyze progress in business and society. Generative AI deserves much of the credit for ushering in this revival, but it stands as just one of many advances on the horizon that could drive sustainable, inclusive growth and solve complex global challenges.

To help executives track the latest developments, the McKinsey Technology Council  has once again identified and interpreted the most significant technology trends unfolding today. While many trends are in the early stages of adoption and scale, executives can use this research to plan ahead by developing an understanding of potential use cases and pinpointing the critical skills needed as they hire or upskill talent to bring these opportunities to fruition.

Our analysis examines quantitative measures of interest, innovation, and investment to gauge the momentum of each trend. Recognizing the long-term nature and interdependence of these trends, we also delve into underlying technologies, uncertainties, and questions surrounding each trend. This year, we added an important new dimension for analysis—talent. We provide data on talent supply-and-demand dynamics for the roles of most relevance to each trend. (For more, please see the sidebar, “Research methodology.”)

New and notable

All of last year’s 14 trends remain on our list, though some experienced accelerating momentum and investment, while others saw a downshift. One new trend, generative AI, made a loud entrance and has already shown potential for transformative business impact.

Research methodology

To assess the development of each technology trend, our team collected data on five tangible measures of activity: search engine queries, news publications, patents, research publications, and investment. For each measure, we used a defined set of data sources to find occurrences of keywords associated with each of the 15 trends, screened those occurrences for valid mentions of activity, and indexed the resulting numbers of mentions on a 0–1 scoring scale that is relative to the trends studied. The innovation score combines the patents and research scores; the interest score combines the news and search scores. (While we recognize that an interest score can be inflated by deliberate efforts to stimulate news and search activity, we believe that each score fairly reflects the extent of discussion and debate about a given trend.) Investment measures the flows of funding from the capital markets into companies linked with the trend. Data sources for the scores include the following:

• Patents. Data on patent filings are sourced from Google Patents.
• Research. Data on research publications are sourced from the Lens (www.lens.org).
• News. Data on news publications are sourced from Factiva.
• Searches. Data on search engine queries are sourced from Google Trends.
• Investment. Data on private-market and public-market capital raises are sourced from PitchBook.
• Talent demand. Number of job postings is sourced from McKinsey’s proprietary Organizational Data Platform, which stores licensed, de-identified data on professional profiles and job postings. Data is drawn primarily from English-speaking countries.

In addition, we updated the selection and definition of trends from last year’s study to reflect the evolution of technology trends:

• The generative-AI trend was added since last year’s study.
• We adjusted the definitions of electrification and renewables (previously called future of clean energy) and climate technologies beyond electrification and renewables (previously called future of sustainable consumption).
• Data sources were updated. This year, we included only closed deals in PitchBook data, which revised downward the investment numbers for 2018–22. For future of space technologies investments, we used research from McKinsey’s Aerospace & Defense Practice.

This new entrant represents the next frontier of AI. Building upon existing technologies such as applied AI and industrializing machine learning, generative AI has high potential and applicability across most industries. Interest in the topic (as gauged by news and internet searches) increased threefold from 2021 to 2022. As we recently wrote, generative AI and other foundational models  change the AI game by taking assistive technology to a new level, reducing application development time, and bringing powerful capabilities to nontechnical users. Generative AI is poised to add as much as $4.4 trillion in economic value from a combination of specific use cases and more diffuse uses—such as assisting with email drafts—that increase productivity. Still, while generative AI can unlock significant value, firms should not underestimate the economic significance and the growth potential that underlying AI technologies and industrializing machine learning can bring to various industries.

Investment in most tech trends tightened year over year, but the potential for future growth remains high, as further indicated by the recent rebound in tech valuations. Indeed, absolute investments remained strong in 2022, at more than $1 trillion combined, indicating great faith in the value potential of these trends. Trust architectures and digital identity grew the most out of last year’s 14 trends, increasing by nearly 50 percent as security, privacy, and resilience become increasingly critical across industries. Investment in other trends—such as applied AI, advanced connectivity, and cloud and edge computing—declined, but that is likely due, at least in part, to their maturity. More mature technologies can be more sensitive to short-term budget dynamics than more nascent technologies with longer investment time horizons, such as climate and mobility technologies. Also, as some technologies become more profitable, they can often scale further with lower marginal investment. Given that these technologies have applications in most industries, we have little doubt that mainstream adoption will continue to grow.

Organizations shouldn’t focus too heavily on the trends that are garnering the most attention. By focusing on only the most hyped trends, they may miss out on the significant value potential of other technologies and hinder the chance for purposeful capability building. Instead, companies seeking longer-term growth should focus on a portfolio-oriented investment across the tech trends most important to their business. Technologies such as cloud and edge computing and the future of bioengineering have shown steady increases in innovation and continue to have expanded use cases across industries. In fact, more than 400 edge use cases across various industries have been identified, and edge computing is projected to win double-digit growth globally over the next five years. Additionally, nascent technologies, such as quantum, continue to evolve and show significant potential for value creation. Our updated analysis for 2023 shows that the four industries likely to see the earliest economic impact from quantum computing—automotive, chemicals, financial services, and life sciences—stand to potentially gain up to $1.3 trillion in value by 2035. By carefully assessing the evolving landscape and considering a balanced approach, businesses can capitalize on both established and emerging technologies to propel innovation and achieve sustainable growth.

Tech talent dynamics

We can’t overstate the importance of talent as a key source in developing a competitive edge. A lack of talent is a top issue constraining growth. There’s a wide gap between the demand for people with the skills needed to capture value from the tech trends and available talent: our survey of 3.5 million job postings in these tech trends found that many of the skills in greatest demand have less than half as many qualified practitioners per posting as the global average. Companies should be on top of the talent market, ready to respond to notable shifts and to deliver a strong value proposition to the technologists they hope to hire and retain. For instance, recent layoffs in the tech sector may present a silver lining for other industries that have struggled to win the attention of attractive candidates and retain senior tech talent. In addition, some of these technologies will accelerate the pace of workforce transformation. In the coming decade, 20 to 30 percent of the time that workers spend on the job could be transformed by automation technologies, leading to significant shifts in the skills required to be successful. And companies should continue to look at how they can adjust roles or upskill individuals to meet their tailored job requirements. Job postings in fields related to tech trends grew at a very healthy 15 percent between 2021 and 2022, even though global job postings overall decreased by 13 percent. Applied AI and next-generation software development together posted nearly one million jobs between 2018 and 2022. Next-generation software development saw the most significant growth in number of jobs (exhibit).

Image description:

Small multiples of 15 slope charts show the number of job postings in different fields related to tech trends from 2021 to 2022. Overall growth of all fields combined was about 400,000 jobs, with applied AI having the most job postings in 2022 and experiencing a 6% increase from 2021. Next-generation software development had the second-highest number of job postings in 2022 and had 29% growth from 2021. Other categories shown, from most job postings to least in 2022, are as follows: cloud and edge computing, trust architecture and digital identity, future of mobility, electrification and renewables, climate tech beyond electrification and renewables, advanced connectivity, immersive-reality technologies, industrializing machine learning, Web3, future of bioengineering, future of space technologies, generative AI, and quantum technologies.

End of image description.

This bright outlook for practitioners in most fields highlights the challenge facing employers who are struggling to find enough talent to keep up with their demands. The shortage of qualified talent has been a persistent limiting factor in the growth of many high-tech fields, including AI, quantum technologies, space technologies, and electrification and renewables. The talent crunch is particularly pronounced for trends such as cloud computing and industrializing machine learning, which are required across most industries. It’s also a major challenge in areas that employ highly specialized professionals, such as the future of mobility and quantum computing (see interactive).

Michael Chui is a McKinsey Global Institute partner in McKinsey’s Bay Area office, where Mena Issler is an associate partner, Roger Roberts  is a partner, and Lareina Yee  is a senior partner.

The authors wish to thank the following McKinsey colleagues for their contributions to this research: Bharat Bahl, Soumya Banerjee, Arjita Bhan, Tanmay Bhatnagar, Jim Boehm, Andreas Breiter, Tom Brennan, Ryan Brukardt, Kevin Buehler, Zina Cole, Santiago Comella-Dorda, Brian Constantine, Daniela Cuneo, Wendy Cyffka, Chris Daehnick, Ian De Bode, Andrea Del Miglio, Jonathan DePrizio, Ivan Dyakonov, Torgyn Erland, Robin Giesbrecht, Carlo Giovine, Liz Grennan, Ferry Grijpink, Harsh Gupta, Martin Harrysson, David Harvey, Kersten Heineke, Matt Higginson, Alharith Hussin, Tore Johnston, Philipp Kampshoff, Hamza Khan, Nayur Khan, Naomi Kim, Jesse Klempner, Kelly Kochanski, Matej Macak, Stephanie Madner, Aishwarya Mohapatra, Timo Möller, Matt Mrozek, Evan Nazareth, Peter Noteboom, Anna Orthofer, Katherine Ottenbreit, Eric Parsonnet, Mark Patel, Bruce Philp, Fabian Queder, Robin Riedel, Tanya Rodchenko, Lucy Shenton, Henning Soller, Naveen Srikakulam, Shivam Srivastava, Bhargs Srivathsan, Erika Stanzl, Brooke Stokes, Malin Strandell-Jansson, Daniel Wallance, Allen Weinberg, Olivia White, Martin Wrulich, Perez Yeptho, Matija Zesko, Felix Ziegler, and Delphine Zurkiya.

They also wish to thank the external members of the McKinsey Technology Council.

This interactive was designed, developed, and edited by McKinsey Global Publishing’s Nayomi Chibana, Victor Cuevas, Richard Johnson, Stephanie Jones, Stephen Landau, LaShon Malone, Kanika Punwani, Katie Shearer, Rick Tetzeli, Sneha Vats, and Jessica Wang.

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The 50 Most Innovative Companies in Market Research

The heavily anticipated GRIT ‘Top 50 Most Innovative Suppliers’ list is here.

by Leonard Murphy

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What is GRIT?

The GRIT (GreenBook Research Industry Trends) Report is the leading survey of the insights industry worldwide. Over 30,000 market researchers, marketers, and executives—both clients & suppliers—use each edition to understand the trends impacting the industry and profession. They see GRIT as an invaluable resource to future-proof their organizations and careers, in ways both strategic and tactical.

The Business & Innovation Edition looks at the insights industry and individual organizations (on both sides of the table) in the context of their external environment. The report explores the challenges this environment creates and the opportunities it presents. We look at how external changes spur innovation and how they impact business outcomes, expectations, and strategies.

What is the GRIT Top 50?

For almost a decade, the GRIT Top 50 has become one of the key metrics many companies use to understand their position in the marketplace. It has also become a badge of “bragging rights”, with many companies proudly proclaiming their rankings in their own marketing campaigns. However, being on the GRIT Top 50 serves a far more useful purpose than an accolade; fundamentally, it is a brand tracker using the attribute of “innovation” as the key metric. It has become a reliable way for the players in the insights and analytics ecosystem to measure their own brand awareness and perception. 

The Process

The process is simple. Each year we measure how insights Suppliers and Clients are leveraging the brand attribute of innovation through a simple question series:

• Using an unaided awareness verbatim question, we ask respondents to list the insights and analytics Suppliers they consider to be most innovative.
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Now, after providing the appropriate context and other details, without further ado, here are the Top 10 most innovative suppliers from the GRIT Top 50 rankings:

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Scientific breakthroughs: 2024 emerging trends to watch

December 28, 2023

Across disciplines and industries, scientific discoveries happen every day, so how can you stay ahead of emerging trends in a thriving landscape? At CAS, we have a unique view of recent scientific breakthroughs, the historical discoveries they were built upon, and the expertise to navigate the opportunities ahead. In 2023, we identified the top scientific breakthroughs , and 2024 has even more to offer. New trends to watch include the accelerated expansion of green chemistry, the clinical validation of CRISPR, the rise of biomaterials, and the renewed progress in treating the undruggable, from cancer to neurodegenerative diseases. To hear what the experts from Lawrence Liverpool National Lab and Oak Ridge National Lab are saying on this topic, join us for a free webinar on January 25 from 10:00 to 11:30 a.m. EDT for a panel discussion on the trends to watch in 2024.

The ascension of AI in R&D

While the future of AI has always been forward-looking, the AI revolution in chemistry and drug discovery has yet to be fully realized. While there have been some high-profile set-backs , several breakthroughs should be watched closely as the field continues to evolve. Generative AI is making an impact in drug discovery , machine learning is being used more in environmental research , and large language models like ChatGPT are being tested in healthcare applications and clinical settings.

Many scientists are keeping an eye on AlphaFold, DeepMind’s protein structure prediction software that revolutionized how proteins are understood. DeepMind and Isomorphic Labs have recently announced how their latest model shows improved accuracy, can generate predictions for almost all molecules in the Protein Data Bank, and expand coverage to ligands, nucleic acids, and posttranslational modifications . Therapeutic antibody discovery driven by AI is also gaining popularity , and platforms such as the RubrYc Therapeutics antibody discovery engine will help advance research in this area.

Though many look at AI development with excitement, concerns over accurate and accessible training data , fairness and bias , lack of regulatory oversight , impact on academia, scholarly research and publishing , hallucinations in large language models , and even concerns over infodemic threats to public health are being discussed. However, continuous improvement is inevitable with AI, so expect to see many new developments and innovations throughout 2024.

‘Greener’ green chemistry

Green chemistry is a rapidly evolving field that is constantly seeking innovative ways to minimize the environmental impact of chemical processes. Here are several emerging trends that are seeing significant breakthroughs:

• Improving green chemistry predictions/outcomes : One of the biggest challenges in green chemistry is predicting the environmental impact of new chemicals and processes. Researchers are developing new computational tools and models that can help predict these impacts with greater accuracy. This will allow chemists to design safer and more environmentally friendly chemicals.
• Reducing plastics: More than 350 million tons of plastic waste is generated every year. Across the landscape of manufacturers, suppliers, and retailers, reducing the use of single-use plastics and microplastics is critical. New value-driven approaches by innovators like MiTerro that reuse industrial by-products and biomass waste for eco-friendly and cheaper plastic replacements will soon be industry expectations. Lowering costs and plastic footprints will be important throughout the entire supply chain.    
• Alternative battery chemistry: In the battery and energy storage space, finding alternatives to scarce " endangered elements" like lithium and cobalt will be critical. While essential components of many batteries, they are becoming scarce and expensive. New investments in lithium iron phosphate (LFP) batteries that do not use nickel and cobalt have expanded , with 45% of the EV market share being projected for LFP in 2029. Continued research is projected for more development in alternative materials like sodium, iron, and magnesium, which are more abundant, less expensive, and more sustainable.
• More sustainable catalysts : Catalysts speed up a chemical reaction or decrease the energy required without getting consumed. Noble metals are excellent catalysts; however, they are expensive and their mining causes environmental damage. Even non-noble metal catalysts can also be toxic due to contamination and challenges with their disposal. Sustainable catalysts are made of earth-abundant elements that are also non-toxic in nature. In recent years, there has been a growing focus on developing sustainable catalysts that are more environmentally friendly and less reliant on precious metals. New developments with catalysts, their roles, and environmental impact will drive meaningful progress in reducing carbon footprints.  
• Recycling lithium-ion batteries: Lithium-ion recycling has seen increased investments with more than 800 patents already published in 2023. The use of solid electrolytes or liquid nonflammable electrolytes may improve the safety and durability of LIBs and reduce their material use. Finally, a method to manufacture electrodes without solvent s could reduce the use of deprecated solvents such as N-methylpyrrolidinone, which require recycling and careful handling to prevent emissions.

Rise of biomaterials

New materials for biomedical applications could revolutionize many healthcare segments in 2024. One example is bioelectronic materials, which form interfaces between electronic devices and the human body, such as the brain-computer interface system being developed by Neuralink. This system, which uses a network of biocompatible electrodes implanted directly in the brain, was given FDA approval to begin human trials in 2023.

• Bioelectronic materials: are often hybrids or composites, incorporating nanoscale materials, highly engineered conductive polymers, and bioresorbable substances. Recently developed devices can be implanted, used temporarily, and then safely reabsorbed by the body without the need for removal. This has been demonstrated by a fully bioresorbable, combined sensor-wireless power receiver made from zinc and the biodegradable polymer, poly(lactic acid).
• Natural biomaterials: that are biocompatible and naturally derived (such as chitosan, cellulose nanomaterials, and silk) are used to make advanced multifunctional biomaterials in 2023. For example, they designed an injectable hydrogel brain implant for treating Parkinson’s disease, which is based on reversible crosslinks formed between chitosan, tannic acid, and gold nanoparticles.
• Bioinks : are used for 3D printing of organs and transplant development which could revolutionize patient care. Currently, these models are used for studying organ architecture like 3D-printed heart models for cardiac disorders and 3D-printed lung models to test the efficacy of drugs. Specialized bioinks enhance the quality, efficacy, and versatility of 3D-printed organs, structures, and outcomes. Finally, new approaches like volumetric additive manufacturing (VAM) of pristine silk- based bioinks are unlocking new frontiers of innovation for 3D printing.

To the moon and beyond

The global Artemis program is a NASA-led international space exploration program that aims to land the first woman and the first person of color on the Moon by 2025 as part of the long-term goal of establishing a sustainable human presence on the Moon. Additionally, the NASA mission called Europa Clipper, scheduled for a 2024 launch, will orbit around Jupiter and fly by Europa , one of Jupiter’s moons, to study the presence of water and its habitability. China’s mission, Chang’e 6 , plans to bring samples from the moon back to Earth for further studies. The Martian Moons Exploration (MMX) mission by Japan’s JAXA plans to bring back samples from Phobos, one of the Mars moons. Boeing is also expected to do a test flight of its reusable space capsule Starliner , which can take people to low-earth orbit.

The R&D impact of Artemis extends to more fields than just aerospace engineering, though:

• Robotics: Robots will play a critical role in the Artemis program, performing many tasks, such as collecting samples, building infrastructure, and conducting scientific research. This will drive the development of new robotic technologies, including autonomous systems and dexterous manipulators.
• Space medicine: The Artemis program will require the development of new technologies to protect astronauts from the hazards of space travel, such as radiation exposure and microgravity. This will include scientific discoveries in medical diagnostics, therapeutics, and countermeasures.
• Earth science: The Artemis program will provide a unique opportunity to study the Moon and its environment. This will lead to new insights into the Earth's history, geology, and climate.
• Materials science: The extreme space environment will require new materials that are lightweight, durable, and radiation resistant. This will have applications in many industries, including aerospace, construction, and energy.
• Information technology: The Artemis program will generate a massive amount of data, which will need to be processed, analyzed, and shared in real time. This will drive the development of new IT technologies, such as cloud computing, artificial intelligence, and machine learning.

The CRISPR pay-off

After years of research, setbacks, and minimal progress, the first formal evidence of CRISPR as a therapeutic platform technology in the clinic was realized. Intellia Therapeutics received FDA clearance to initiate a pivotal phase 3 trial of a new drug for the treatment of hATTR, and using the same Cas9 mRNA, got a new medicine treating a different disease, angioedema. This was achieved by only changing 20 nucleotides of the guide RNA, suggesting that CRISPR can be used as a therapeutic platform technology in the clinic.

The second great moment for CRISPR drug development technology came when Vertex and CRISPR Therapeutics announced the authorization of the first CRISPR/Cas9 gene-edited therapy, CASGEVY™, by the United Kingdom MHRA, for the treatment of sickle cell disease and transfusion-dependent beta-thalassemia. This was the first approval of a CRISPR-based therapy for human use and is a landmark moment in realizing the potential of CRISPR to improve human health.

In addition to its remarkable genome editing capability, the CRISPR-Cas system has proven to be effective in many applications, including early cancer diagnosis . CRISPR-based genome and transcriptome engineering and CRISPR-Cas12a and CRISPR-Cas13a appear to have the necessary characteristics to be robust detection tools for cancer therapy and diagnostics. CRISPR-Cas-based biosensing system gives rise to a new era for precise diagnoses of early-stage cancers.

MIT engineers have also designed a new nanoparticle DNA-encoded nanosensor for urinary biomarkers that could enable early cancer diagnoses with a simple urine test. The sensors, which can detect cancerous proteins, could also distinguish the type of tumor or how it responds to treatment.

Ending cancer

The immuno-oncology field has seen tremendous growth in the last few years. Approved products such as cytokines, vaccines, tumor-directed monoclonal antibodies, and immune checkpoint blockers continue to grow in market size. Novel therapies like TAC01-HER2 are currently undergoing clinical trials. This unique therapy uses autologous T cells, which have been genetically engineered to incorporate T cell Antigen Coupler (TAC) receptors that recognize human epidermal growth factor receptor 2 (HER2) presence on tumor cells to remove them. This could be a promising therapy for metastatic, HER2-positive solid tumors.

Another promising strategy aims to use the CAR-T cells against solid tumors in conjunction with a vaccine that boosts immune response. Immune boosting helps the body create more host T cells that can target other tumor antigens that CAR-T cells cannot kill.

Another notable trend is the development of improved and effective personalized therapies. For instance, a recently developed personalized RNA neoantigen vaccine, based on uridine mRNA–lipoplex nanoparticles, was found effective against pancreatic ductal adenocarcinoma (PDAC). Major challenges in immuno-oncology are therapy resistance, lack of predictable biomarkers, and tumor heterogenicity. As a result, devising novel treatment strategies could be a future research focus.

Decarbonizing energy

Multiple well-funded efforts are underway to decarbonize energy production by replacing fossil fuel-based energy sources with sources that generate no (or much less) CO2 in 2024.

One of these efforts is to incorporate large-scale energy storage devices into the existing power grid. These are an important part of enabling the use of renewable sources since they provide additional supply and demand for electricity to complement renewable sources. Several types of grid-scale storage that vary in the amount of energy they can store and how quickly they can discharge it into the grid are under development. Some are physical (flywheels, pumped hydro, and compressed air) and some are chemical (traditional batteries, flow batteries , supercapacitors, and hydrogen ), but all are the subject of active chemistry and materials development research. The U.S. government is encouraging development in this area through tax credits as part of the Inflation Reduction Act and a $7 billion program to establish regional hydrogen hubs.

Meanwhile, nuclear power will continue to be an active R&D area in 2024. In nuclear fission, multiple companies are developing small modular reactors (SMRs) for use in electricity production and chemical manufacturing, including hydrogen. The development of nuclear fusion reactors involves fundamental research in physics and materials science. One major challenge is finding a material that can be used for the wall of the reactor facing the fusion plasma; so far, candidate materials have included high-entropy alloys and even molten metals .

Neurodegenerative diseases

Neurodegenerative diseases are a major public health concern, being a leading cause of death and disability worldwide. While there is currently no cure for any neurodegenerative disease, new scientific discoveries and understandings of these pathways may be the key to helping patient outcomes.

• Alzheimer’s disease: Two immunotherapeutics have received FDA approval to reduce both cognitive and functional decline in individuals living with early Alzheimer's disease. Aducannumab (Aduhelm®) received accelerated approval in 2021 and is the first new treatment approved for Alzheimer’s since 2003 and the first therapy targeting the disease pathophysiology, reducing beta-amyloid plaques in the brains of early Alzheimer’s disease patients. Lecanemab (Leqembi®) received traditional approval in 2023 and is the first drug targeting Alzheimer’s disease pathophysiology to show clinical benefits, reducing the rate of disease progression and slowing cognitive and functional decline in adults with early stages of the disease.
• Parkinson’s disease: New treatment modalities outside of pharmaceuticals and deep brain stimulation are being researched and approved by the FDA for the treatment of Parkinson’s disease symptoms. The non-invasive medical device, Exablate Neuro (approved by the FDA in 2021), uses focused ultrasound on one side of the brain to provide relief from severe symptoms such as tremors, limb rigidity, and dyskinesia. 2023 brought major news for Parkinson’s disease research with the validation of the biomarker alpha-synuclein. Researchers have developed a tool called the α-synuclein seeding amplification assay which detects the biomarker in the spinal fluid of people diagnosed with Parkinson’s disease and individuals who have not shown clinical symptoms.
• Amyotrophic lateral sclerosis (ALS): Two pharmaceuticals have seen FDA approval in the past two years to slow disease progression in individuals with ALS. Relyvrio ® was approved in 2022 and acts by preventing or slowing more neuron cell death in patients with ALS. Tofersen (Qalsody®), an antisense oligonucleotide, was approved in 2023 under the accelerated approval pathway. Tofersen targets RNA produced from mutated superoxide dismutase 1 (SOD1) genes to eliminate toxic SOD1 protein production. Recently published genetic research on how mutations contribute to ALS is ongoing with researchers recently discovering how NEK1 gene mutations lead to ALS. This discovery suggests a possible rational therapeutic approach to stabilizing microtubules in ALS patients.

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Top New Trends in Market Research for the Future

Business leaders know that the top trends in market research provide valuable actionable insights such as how your target demographic perceives your company and your products. They are a powerful and helpful tool that businesses and brands use to connect to customers and improve the overall consumer experience. Well-planned research helps remove guesswork from business decisions.

Market research plays a vital role in developing your services and products and how to bring them to key markets. It can serve as a deeper insight that lets you see who your potential customers could be. It is essential to know current trends in market research techniques so that you can make smart, informed decisions. It also helps you prepare to take the next step for your business.

Find your bootcamp match

What is market research.

Market research is the process of gathering data to identify whether or not certain products or business services will perform well. Through market research methods, you’ll be able to determine demographics, economic shifts, purchase behavior, monthly patterns, and seasonal patterns of both potential and current customers. This will provide you with actionable insight.

You can utilize the data from your market research to improve or create a product that your target market will love. The information you’ll get from market research participants is highly valuable. With an accurate representation of your target customers, and their corresponding feedback, you will be able to create business strategies that can decrease financial risks.

What Is the Current State of Market Research?

Market research strategies have been affected by the pandemic, according to the State of Marketing 2021 report from Salesforce Research. This is primarily due to major shifts in customer habits and shopping trends. As many businesses and companies needed to undergo a digital transformation and adapt to the changes, the market research industry continues to grow.

According to Statista, the industry surpassed $73.4 billion in revenue in 2019, which is two times more than the industry was valued at in 2008. This means that businesses increasingly view market research as an essential tool for richer insights into consumer behavior and preferences.

Impact of Remote Work on Market Research

Remote work doesn’t directly impact market research. However, it affects consumer behavior, which is one of the critical components of market research. According to a report by McKinsey , people who are working remotely have different wants and needs. It is probable that consumer spending will fluctuate through 2024.

According to a study from The New Consumer , 45 percent of consumers are now inclined to do their grocery shopping online. The remote workforce might have different preferences, but they mostly prefer home delivery services and invest in electronics and home tech support. These are all important insights that companies gain from different types of market research technology.

Top Challenges in Market Research

There have been dramatic changes in the market research industry, especially within the last two years. With that, it’s expected that consumer insights will be more in demand. At the same time, there are many challenges that can trouble a market research company.

• Difficulty in acquiring data: Government regulations have been stricter, especially regarding data privacy and security. Collecting personal data and ensuring security has been a real challenge since consumers became more careful, especially with sharing their details and thoughts. This can result in unreliable and incomplete responses as well as poor sampling.
• Intense competition with instant experts: Market research is now facing a time when self-proclaimed experts are given a chance to voice opinions. These “experts” are often considered equally as valid as market researchers who have undergone a long research process to get facts. Because of this, market research reports must now be presented entertainingly or sensationalized.
• Social media channels as resources: There is a great difficulty with using social media data, which challenges researchers to create new types of market research technology. The problem here is that the data from these channels can be disorganized and hard to interpret. That means the industry needs well-trained researchers to quantify qualitative data.
• Rise of mobile technology: The industry is also trying to deal with the emerging challenge of getting information from mobile phones. The industry must develop dynamic methods for data collection in order to get accurate information from mobile devices.
• Diversity of international markets: Every country has a different culture. Getting an accurate picture of consumer behavior requires insight professionals to take the culture of market research participants into consideration. With that, you have to cross-check the data you can get from market research against cultural factors that can potentially skew data.

What Are Some Future Trends in Market Research?

There are different market research trends that professionals understand well, and others that have just emerged because of the changes that are happening all around the world. Nevertheless, it is essential to take note of these common themes and be prepared for what’s about to come, especially if you are in the industry.

Augmented Reality and Virtual Reality

Virtual environments have given opportunities for product concept testing, understanding consumer behavior towards a developing product, and early-stage product feasibility analysis. With that comes a new approach to market research.

Virtual reality as a research method can be considered the biggest trend for the market research industry as it taps into the experience-driven market. Testing a virtual product with your target audience can help predicate consumer trends in an efficient way.

Why Is This Trend Important?

This trend is important because virtual reality can serve as yet another powerful market research tool to gain richer insights. However, market researchers need to ensure that they are keeping up with this rapidly changing technology.

Technology Playing a Big Role

Technology plays a pivotal role in collating data from different sources and helping market researchers analyze, interpret, and share their findings. Market research technology will continue to be part of collaborative research.

You can use different tools to keep up with marketing research technology. This trend is significant because many businesses and companies expect that the data they access will come from various sources that can only be accessed through technology.

Microdata Getting More Attention

Many people know about big data, but microdata is now gaining prominence. Companies now see that effective business decisions can come from individual customer’s behavior obtained from micro-level data patterns.

While big data has played an essential role in traditional methods, microdata or individual customer activity is now necessary to answer tough business questions. It’s essential that market research is adaptable and that market research teams can adjust with the new shifts and demands of the industry.

Online Qualitative Research and Social Listening

Due to the pandemic, it was challenging to do in-person focus groups and conduct qualitative research methods. Everyone has shifted online. With that, it’s essential to know what’s going on  when it comes to social media platforms in order to gather ideas and poll audiences.

This trend is significant because you’ll be able to learn about buying behavior, complaints, and other micro and macro trends. Social listening might not always be applicable, but it is an excellent tool that market researchers can utilize in addition to traditional methods.

Real-Time vs. Agile Market Research

These two elements are essential and complementary. To be effective in the market research industry, you must combine reliable data and results. For example, real-time data will tell you when there are search queries for a product. On the other hand, online survey data can help you pinpoint the triggers and marketing efforts that led to a purchase.

This trend is significant because both are part of the future of market research. Both of the tools mentioned are crucial to getting data and drawing out information that can increase consumer purchases over a period of time.

Essential Market Research Skills for Today’s Professionals

If you’re doing research and inferring a lot of information from different data, there are skills that you need to either already have or learn. These skills are essential to be able to conduct successful market research. They will also help you handle the enormous amounts of data you’ll get.

• Data analysis skills : You’ll be collecting large amounts of data, so that means you should know the four data analysis types. These include descriptive, diagnostic, predictive, and prescriptive data. This skill will help you gain powerful insights.
• Interpersonal skills : The data obtained from market research needs to be communicated to stakeholders, peers, and other professionals, which is where interpersonal skills come in. It is essential that you have strong communication skills and can share information with clarity and accuracy.
• Data collection skills : Besides analyzing the data you will get, market research also requires professionals who know how to collect it. This means you have to understand how to conduct focus groups or customer interviews. You should also know how to create surveys and be able to determine what approach to market research is best for your needs.
• Organization skills : There are tools that can help you organize the data you get. However, it is also crucial that you know how to categorize and group the information from market research yourself.
• Problem solving skills : You’ll inevitably face roadblocks or challenges when you’re conducting research or getting data. The important thing is to brainstorm potential solutions and work through any issues.

Can a Coding Bootcamp Help Me Prepare for the Future of Market Research

Yes, a coding bootcamp can be helpful for you to learn about different marketing practices that will affect the future of market research. It could be helpful to learn skills such as cyber security, data analytics, software development, and web development, even if they are not directly foundational in market research. Many of the best coding bootcamps can help you to gain additional skills.

Top Market Research Bootcamps

Digital marketing covers topics including market research. You can check out the list below to learn more about these bootcamps. The following bootcamps, though focused on digital and online marketing, will also help you build a foundation in market research.

Current Trends in Market Research: Take the Next Step in Your Career

There are different trends in market research that are important to adapt to. Most of these trends sprung up during the last two years during the pandemic. To prepare for future trends it is important to engage with the greater market research community. Keeping track of customer behavior helps the market researchers adjust and find the best ways to get information from the consumer.

Consciously working to develop the skills needed to be in this industry are very important. You’ll have to know how to properly collect data, organize it, and share it with top management. There isn’t a specific marketing research degree, but marketing courses can be helpful to expand your knowledge further.

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Trends in Market Research FAQ

Types of market research include primary research, qualitative research, quantitative research, customer research, and competitor research. Primary research means you collect the data itself. Data from qualitative research is non-numerical, while quantitative is numerical. Customer research focuses on knowing the customer, and competitor research is understanding your competition.

An example of a trend in market research is the use of microdata. This trend aims at focusing on individual consumer behaviors.

Market research is essential because it gives you insights about your products based on the customers’ behavior and their response towards your company.

The best market research methodology often utilizes questionnaires and online surveys. However, the best methodology will depend on what you are looking for and the purpose of the study.

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Market Research in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Instant access to hundreds of data points and trends.

• Market estimates from
• Competitive analysis, industry segmentation, financial benchmarks
• Incorporates SWOT, Porter's Five Forces and risk management frameworks
• PDF report or online database with Word, Excel and PowerPoint export options

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Industry statistics and trends.

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Market Research in the US

Industry Revenue

Total value and annual change from . Includes 5-year outlook.

Access the 5-year outlook with purchase. View purchase options

Trends and Insights

Market size is projected to over the next five years.

Market share concentration for the Market Research industry in the US is , which means the top four companies generate of industry revenue.

The average concentration in the sector in the United States is .

Products & Services Segmentation

Industry revenue broken down by key product and services lines.

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Table of Contents

About this industry, industry definition, what's included in this industry, industry code, related industries, domestic industries, competitors, complementors, international industries, performance, key takeaways, revenue highlights, employment highlights, business highlights, profit highlights, current performance.

What's driving current industry performance in the Market Research in the US industry?

What's driving the Market Research in the US industry outlook?

What influences volatility in the Market Research in the US industry?

• Industry Volatility vs. Revenue Growth Matrix

What determines the industry life cycle stage in the Market Research in the US industry?

• Industry Life Cycle Matrix

Products and Markets

Products and services.

• Products and Services Segmentation

How are the Market Research in the US industry's products and services performing?

What are innovations in the Market Research in the US industry's products and services?

Major Markets

• Major Market Segmentation

What influences demand in the Market Research in the US industry?

International Trade

• Industry Concentration of Imports by Country
• Industry Concentration of Exports by Country
• Industry Trade Balance by Country

What are the import trends in the Market Research in the US industry?

What are the export trends in the Market Research in the US industry?

Geographic Breakdown

Business locations.

• Share of Total Industry Establishments by Region ( )

Data Tables

• Number of Establishments by Region ( )
• Share of Establishments vs. Population of Each Region

What regions are businesses in the Market Research in the US industry located?

Competitive Forces

Concentration.

• Combined Market Share of the Four Largest Companies in This Industry ( )
• Share of Total Enterprises by Employment Size

What impacts market share in the Market Research in the US industry?

Barriers to Entry

What challenges do potential entrants in the Market Research in the US industry?

Substitutes

What are substitutes in the Market Research in the US industry?

Buyer and Supplier Power

• Upstream Buyers and Downstream Suppliers in the Market Research in the US industry

What power do buyers and suppliers have over the Market Research industry in the US?

Market Share

Top companies by market share:

• Market share
• Profit Margin

Company Snapshots

Company details, summary, charts and analysis available for

Company Details

• Total revenue
• Total operating income
• Total employees
• Industry market share

Company Summary

• Description
• Brands and trading names
• Other industries

What's influencing the company's performance?

External Environment

External drivers.

What demographic and macroeconomic factors impact the Market Research in the US industry?

Regulation and Policy

What regulations impact the Market Research in the US industry?

What assistance is available to the Market Research in the US industry?

Financial Benchmarks

Cost structure.

• Share of Economy vs. Investment Matrix
• Depreciation

What trends impact cost in the Market Research in the US industry?

Financial Ratios

• 3-4 Industry Multiples (2018-2023)
• 15-20 Income Statement Line Items (2018-2023)
• 20-30 Balance Sheet Line Items (2018-2023)
• 7-10 Liquidity Ratios (2018-2023)
• 1-5 Coverage Ratios (2018-2023)
• 3-4 Leverage Ratios (2018-2023)
• 3-5 Operating Ratios (2018-2023)
• 5 Cash Flow and Debt Service Ratios (2018-2023)
• 1 Tax Structure Ratio (2018-2023)

Data tables

• IVA/Revenue ( )
• Imports/Demand ( )
• Exports/Revenue ( )
• Revenue per Employee ( )
• Wages/Revenue ( )
• Employees per Establishment ( )
• Average Wage ( )

Key Statistics

Industry data.

Including values and annual change:

• Revenue ( )
• Establishments ( )
• Enterprises ( )
• Employment ( )
• Exports ( )
• Imports ( )

Frequently Asked Questions

What is the market size of the market research industry in the us.

The market size of the Market Research industry in the US is measured at in .

How fast is the Market Research in the US market projected to grow in the future?

Over the next five years, the Market Research in the US market is expected to . See purchase options to view the full report and get access to IBISWorld's forecast for the Market Research in the US from up to .

What factors are influencing the Market Research industry in the US market trends?

Key drivers of the Market Research in the US market include .

What are the main product lines for the Market Research in the US market?

The Market Research in the US market offers products and services including .

Which companies are the largest players in the Market Research industry in the US?

Top companies in the Market Research industry in the US, based on the revenue generated within the industry, includes .

How many people are employed in the Market Research industry in the US?

The Market Research industry in the US has employees in United States in .

How concentrated is the Market Research market in the United States?

Market share concentration is for the Market Research industry in the US, with the top four companies generating of market revenue in United States in . The level of competition is overall, but is highest among smaller industry players.

Methodology

Where does ibisworld source its data.

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.

Deeper industry insights drive better business outcomes. See for yourself with your report or membership purchase.

Discover how 30+ pages of industry data and analysis can give you the edge you need..

Trend Research: How to Find Relevant Trends

Most people discover trends by browsing social media, reading industry forums, or talking to industry experts. Yet this process is time-consuming, and you might still overlook the most important emerging trends.

Even after discovering a few trend ideas, you'll have to weed out the fads and buzzwords from legitimate trends worth investing in.

In this post, we'll show you how to research trends using a simple three-step process that makes it easy to quickly discover new trends, analyze their stability and growth potential, and monitor important activity.

Step 1: Identify Emerging Trends

You can find emerging trends in industry forums, podcasts, newsletters, and blog posts, but identifying just one or two trends can take hours.

A more efficient method is using a trend discovery tool that provides a database of emerging trends that you can filter by industry:

These tools make the discovery process faster, but trend suggestion quality varies depending on how each tool identifies and classifies trends.

So here are a few questions you can use to evaluate the trend quality of any trend discovery tool:

• How does it discover trends? Ideally, you want it to discover trends with AI or ML rather than a human analyst. Humans can only scan so much content, whereas AI and ML can scan millions of data points. So tools leveraging AI and ML are more likely to identify under-the-radar trends consistently.
• How does it define a trend? Does the tool qualify any popular topic as a trend? Or does it look at each topic's growth trajectory from the past several months and only qualify topics with steady compounding growth? Trend discovery tools that classify any popular topic as a trend may contain fads. And, you'll likely only see current trends rather than emerging trends.
• Are the trends relevant to your industry? Does it include pop culture trends, or does an analyst check each trend for business relevancy?

We struggled to find a trend discovery tool that consistently identified emerging trends relevant to business use cases. So we built our own trend discovery tool to meet our needs. Here's how Exploding Topics identifies and qualifies trends:

To discover trends with Exploding Topics, first select one of the dozens of B2B or B2C categories, ranging from artificial intelligence and sustainability to fitness and fashion:

Then, you’ll see hundreds of trending topics. Each topic is a brand name, product keyword, or industry topic.

The graph you see represents the topic’s Google Search volume trend, making it easy to gauge a topic’s growth trajectory at a glance:

To find the most promising trends, set the Status filter to "Exploding." You can also adjust the time period (e.g., three months, six months, one year, two years, five years, etc.), and the database automatically sorts topics with the strongest growth rate over that time period.

There are also a few other filter options, including:

• Growth: Fastest growth rate
• Trend Line: Most consistent compounding growth
• Discovered: The most recently discovered topics
• Search Volume: Topics with the highest search volume

You can click on any topic to see a forecast of its growth, the social media channel it’s trending on, and a number of related trending topics.

To save the topic, click "Track Topic" and add it to a Project.

Projects are files you create, and they make it easy to save and track trend ideas.

You can view all of your Projects in the Trend Tracking dashboard, and Exploding Topics will continue to update each topic's growth trajectory with real-time data.

This way, you never have to worry about managing spreadsheets.

Another trend discovery tool in Exploding Topics is the Meta Trends feature, which lists trending niches within broader markets.

Click on any of these meta trends to see a collection of the trending brands, products, and keywords within that niche.

Exploding Topics also has some other helpful trend discovery features.

The Trending Products dashboard is designed specifically for ecommerce brands and provides a database of trending product ideas.

You can sort the database by category (e.g., beauty, tech, fitness, health, etc.) and various other metrics, including:

• Monthly sales
• Review stars

You'll also see a graph of each product keyword's Google search volume trend.

Another feature is the Trending Startups database, which provides a list of growing brands.

This database is great for investors and entrepreneurs who want to find growing startups.

You can filter the database by category, growth rate, and other specific metrics, like total funding, employee headcount, and location.

If you want to see for yourself how Exploding Topics expedites the trend discovery process, you can sign up for Exploding Topics Pro for $1 .

If you'd rather manually research trends, here are a few tips.

First, you can use a tool like SparkToro to quickly generate a list of your industry's most popular podcasts, websites, forums, and social accounts.

Then, you can use an RSS feed like Feedly to create a curated news feed of content from the top blogs, newsletters, X accounts, and subreddits.

The downside is that Feedly only gives you a list of content. You might spot some trends from the titles of each piece of content, but it won't provide a specific list of trends.

Instead, you'll probably have to read the content to find new trends, and there's also the chance you may overlook emerging trends.

Another option is to use a tool like BuzzSumo . It offers a trend discovery feature that surfaces the most popular content in your industry.

This tool is great for content creators who want to view current industry trends and news, but it isn't designed for entrepreneurs or investors researching emerging market trends.

Step 2: Analyze Trend Growth

Once you have a list of trends, the next step is to weed out the fads from steady trends with long-term growth potential.

One easy way to quickly gauge a trend's growth is by looking at its historical Google Search volume data.

Steady compounding growth for that trend keyword is a good sign that demand will continue growing.

You’ll see a Google Search volume graph for each trend you find in Exploding Topics.

If you heard about a trend elsewhere and want to check its growth, you can type it into the Trends Search feature to instantly generate a report of its Google Search volume:

You can also use Google Trends.

Market forecast data can also help you gauge a market’s demand and stability.

Websites like Grand View Research , IBIS World , and MarketResearch.com offer some free market reports with this data.

The easiest way to find them is to Google the industry and “market report.”

Most provide a graph with market size data from the past several years and a forecast.

These reports also usually provide analysis to help you understand factors driving market growth.

For example, this report on the pet supplement market shows that demand is rising because there are more pet owners than ever before and pet owners are spending more money on their pets.

You can also gauge trend growth by looking at the growth patterns of the industry's leading brands.

To find leading brands, search the trend term and "brands" or "companies."

Then, you'll probably see a list of the top brands in the industry either directly from Google or in the organic search results:

If you're researching a trending ecommerce product, you can find leading brands by searching the trend keyword on Amazon:

Then, scroll down to see the list of top brands in the sidebar:

Once you have a list of brand names, type them into Google Trends to see an overview of their growth trend:

If most of these brands are growing, the trend is probably also growing.

If you're using Exploding Topics, you can also search each brand name in the Trends Search feature. Then, click "Track Topic" and save it to a Project.

For example, you can create a Project for all Pet Supplement brands.

Each trend saved to a Project is updated with real time data, so you can monitor growth just by glancing at the Trend Tracking dashboard:

This makes it easy to quickly gauge trend growth across the top brands in the industry.

Step 3: Monitor Trend Activity

All the trends you saved in Projects are automatically updated with real-time data, so you can just glance at the Trend Tracking dashboard to monitor trend growth.

If you're manually tracking trends, you can keep a spreadsheet with all the trends you want to track. Each month, you can type all of the trends into Google Trends and then download a CSV.

You can also use Google Alerts to monitor trends. This will help you stay up-to-date with the latest news on any of these trends, and it can help you identify industry influencers.

First, create an alert for the general trend term:

You can also create alerts for each of the top brands in the industry.

You can also use a competitive intelligence tool like Kompyte , AlphaSense , or Klue to monitor trends.

These tools make it easy to track any brand, and you can set alerts to be notified about:

• Marketing messaging changes
• Product launches
• Marketing strategy

You can also track hashtags for key trends you're monitoring.

For example, if you're monitoring the trend "ketamine therapy," you can track "#ketaminetherapy" in a tool like BrandMentions . This tool offers a free report that shows the most popular content across the web with that hashtag and other related hashtags.

If you're using the paid version of BrandMentions, you can schedule weekly reports for your tracked hashtags.

This is an easy way to stay up-to-date with the latest trend news and participate in important trend conversations.

Start Researching Trends In Your Industry Today

There are many methods to research trends, but most strategies are time-consuming, and you might overlook important emerging opportunities.

And even if you find a new trending topic, it's difficult to distinguish fads from long-term trends.

That's why we built Exploding Topics.

We wanted a method to quickly identify emerging trends and passively track them.

If this is a solution you're looking for, consider trying Exploding Topics Pro for $1 today.

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Q&A: What is the American Trends Panel, and how has it changed?

At Pew Research Center, we mostly survey the U.S. public through the American Trends Panel (ATP) – a randomly selected, nationally representative group of more than 12,000 adults who agree to take our polls on a regular basis. We created the panel in 2014 and have made several improvements to it since then.

In this Q&A, we chat with Dorene Asare-Marfo, senior panel manager of the ATP, about the fundamentals of the panel, some recent changes we’ve made to it, and more. (Read more about the ATP’s methodology .)

Let’s start with the basics. What is a survey panel? How do you get people to join one? How do participants take the surveys?

A survey panel is made up of a group of people who have agreed to regularly take surveys.

At the Center, we recruit people to the American Trends Panel using printed mailers that we send to a random sample of U.S. addresses. This way, nearly every American has a chance to be included. We ask a person who lives at the sampled address to take one of our surveys, and at the end of that survey, we invite them to take additional ones in the future.

To help persuade people to join the panel, we include a small amount of money in the mailers we send out. And for those who end up joining, we provide compensation for every survey they complete.

We typically send out one or two surveys each month, but not every panelist is asked to take each one. Rather than invite every panelist to every survey, we’ll often send a survey to a subset of panelists (e.g., to 5,000 or 10,000 of them).

The vast majority of ATP participants take our surveys online, using a smartphone, laptop or any internet-enabled device they prefer. But we also now give people the option to take surveys over the phone with an interviewer. This is to account for the fact that not everyone is online or feels comfortable taking surveys online.

Why did you create the American Trends Panel in the first place? 

It was very much a response to the challenges facing the survey research industry.

The model for most polling in the past few decades was “one-off” surveys. That is, each survey relied on a new sample of respondents who we interviewed once and never again. This was a workable model when response rates to surveys – particularly phone surveys – were a lot higher than they are now. But response rates have plummeted over the years, so the benefits of a panel approach became more apparent.

Panels are also cost-effective. While we devote a lot of resources to recruiting panelists and getting a good representative sample of the country, the people who ultimately join the panel tend to participate at high rates. Typically, more than 90% of the panelists we invite to take a particular survey end up doing so. Over time, this is a much more efficient and economical way to conduct high-quality surveys.

Having a panel also allows us to avoid asking some of the same questions every time we conduct a survey. For example, once we’ve collected our panelists’ basic demographic information – race, gender, age and so forth – we don’t need to ask those questions again in each survey.

One other important bonus is that a panel allows us to see how people’s attitudes and behaviors change – or don’t change – over time. For example, a few years ago, we  published a study  showing that most people who had voted for Donald Trump in 2016 continued to have very warm feelings about him in early 2018.

Are there any downsides to using a survey panel?

American Trends Panel participants take a lot of surveys. Like anything you do regularly, you become familiar with the experience, which can be good or bad.

The good part is that experienced panelists better understand what’s expected of them. They may gain trust in the survey research process, making them more honest and careful with their answers.

The downside is that they might become more interested in or knowledgeable about the topics we ask about, or they may change in other ways because of the experience of being part of the panel. In other words, panelists may no longer behave the way a fresh sample of people would. We call this “panel conditioning.”

We took a closer look at panel conditioning in 2021. The good news is we didn’t find any evidence that panel conditioning led to inaccurate estimates for news consumption, discussing politics, political partisanship or voting, though we did see that joining the panel led to a slight uptick in voter registration.

Another important thing to keep in mind is that having a survey panel is not necessarily a guarantee of quality. How the panel is constructed also matters. Some panels are recruited using “opt-in” methods, meaning that people can volunteer to take part. These panels may suffer from data quality problems because of the presence of people who are there only for the compensation and are providing insincere or sloppy responses to questions.

The ATP is much less likely to have this problem because we do not recruit via opt-in methods. Instead, we’re the ones selecting people for inclusion in our panel, and we use random sampling to do that. (Read more about some of the pitfalls of opt-in polling .)

When you recruit new people to the American Trends Panel, what kinds of people are you looking for?

Our main goal is to make sure the panel represents the general public – that is, people who live in the United States and are ages 18 and older. At the same time, we’re interested in understanding the views and experiences of many smaller groups in the population, so it’s essential for us to have enough people from those groups represented on the panel.

To do this, we’ve been using our annual recruitment efforts to target certain groups that the panel may be underrepresenting. For instance, we “oversampled” Hispanic, Black and Asian adults in 2019, 2022 and 2023, respectively. This year, we oversampled young adults, people who do not have a college degree, and certain religious minorities, including Muslim and Jewish Americans. Oversampling allows us to report on the opinions of small groups.

It’s important to note that any numbers we report about the whole population are statistically adjusted so that smaller subgroups are represented in their correct proportions.

What changes have you made to the American Trends Panel recently and why?

We’re always looking for ways to improve the panel, but this year brought an especially important change. We’ll now be giving our panelists the option to take our surveys over the phone with an interviewer, in addition to online. This is mostly aimed at people who don’t have internet access or who don’t want to take our surveys online.

For the last eight years, we included these people by providing them with an internet plan and a tablet that they could use to take our surveys. But over time, we found this was not as effective at capturing offline Americans as we’d hoped. So we felt that offering a phone option would be an improvement.

Another change is that a new vendor, SSRS, has taken over the data collection and panel maintenance responsibilities this year. They’ll handle various logistical tasks, such as taking the questionnaires we write and programming them for administration on the web and phone; handling panel relations and ensuring panelists get paid for each survey they take; collecting and cleaning the data we gather and sending it to us; and so much more.

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John Gramlich is an associate director at Pew Research Center .

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