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

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September 2023

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Statistics on " Market research industry "

• Revenue of the market research industry worldwide by country or region 2009-2022
• Distribution of global market research revenue by region 2022
• Market research revenue worldwide by client sector 2022
• Annual growth in market research revenue worldwide by region 2022
• Market share of the market research industry worldwide by country 2022
• Countries with the largest established research revenue worldwide 2022
• Research revenue of IQVIA worldwide 2013-2023
• Number of IQVIA employees worldwide 2014-2023
• Revenue of Ipsos worldwide 2000-2023
• Number of Ipsos employees worldwide 2000-2023
• Annual revenue of Gartner 2012-2023 by segment
• Number of employees in Gartner worldwide 2010-2023
• Market research: research services contributing the most to revenues 2022, by type
• Sectors concentrating the most spending on market research 2022, by client's sector
• Global spending on market research services in 2022, by survey type
• Most used qualitative methods used in the market research industry worldwide 2022
• Emerging market research approaches used worldwide 2022
• Distribution of global market research spend by project type 2022

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• Premium Statistic Revenue of the market research industry worldwide 2008-2023
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• Premium Statistic Revenue of Kantar worldwide 2006-2023
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Research methods

• Premium Statistic Market research: research services contributing the most to revenues 2022, by type
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• Premium Statistic Market research revenue in Canada 2009-2022, with 2023 forecast
• Premium Statistic Countries with the largest market research revenue worldwide 2022
• Premium Statistic Market research revenue in the UK 2009-2022, with 2023 forecast
• Premium Statistic Global revenue of traditional market research 2014-2018
• Premium Statistic Market research revenue growth worldwide 2009-2022
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• Premium Statistic Share of employees in the research area in Romania 2021, by sector of activity
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• Premium Statistic Colombia: new tools used by market research firms 2021
• Premium Statistic Number of employees with a PhD diploma working in the R&D sector in Romania 2017-2019
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These Are the World’s 10 Largest Market Research Companies

This article is included in these additional categories: brand-related | business of marketing | industries | market research | marketing budgets | top brands.

In fact, the US accounts for more than half of Nielsen’s global revenues. Research released earlier this year [pdf] by the AMA revealed that Nielsen’s US revenues totaled more than $3.6 billion, or around 57% of its global revenues.

Next on the list of the largest companies globally is Kantar, which generated roughly $3.85 billion in revenues last year. To put Nielsen’s size in context, Kantar’s global revenues were only slightly more than Nielsen’s US total.

Like Nielsen, Kantar’s home country is the UK, though it does the bulk of its business (80.8%) outside of the UK. Kantar is third on the list of US research companies, though, sitting behind QuintilesIMS, a healthcare-focused company.

QuintilesIMS – formed through a merger last year of Quintiles and IMS Health – is a US-based company. It ranks third globally ($3.3 billion), actually deriving the majority (59%) of its revenues outside the US.

Its followed in the global rankings by Ipsos (#4; $1.96 billion) and GfK (#5; $1.68 billion). Those companies sit 5th and 7th, respectively, on the list of top firms by US revenues.

Rounding out the top 10 globally are:

• IRI (US): $1.027 billion;
• Westat (US): $511.5 million;
• Wood MacKenzie (UK): $442.8 million;
• INTAGE Holdings Inc. (Japan): $441.6 million; and
• Dunnhumby (UK): $429 million.

It’s worth noting that the list does not include comScore (#10 on the list last year), for which financial statements were not available. It also excludes Rentrak, which merged with comScore early last year, and J.D. Power, which did not disclose its financial information. The AMA notes that these companies together represent upwards of $750 million in annual revenues.

Fastest-Growing Companies

There were few major moves within the top 25, with no company improving by more than 3 spots this year. New additions included BVA (#16), Mintel (#18), and NRC Health (#23).

Some companies enjoyed faster growth rates than others, though.

Among the top 10, #8 Wood MacKenzie sported the highest growth, of 21.4%, followed by #9 INTAGE, which grew by 17.5%.

QuintilesIMS – the third-largest company – experienced double-digit growth of 13%, while Nielsen and Kantar had more modest rises (2.2% and 3.7%, respectively).

Among the top 25, all but 7 grew revenues last year, with none declining by more than 3.1%. The aggregate growth rate for the top 25 global market research companies was 4.6% (3.3% when adjusted for inflation), to $22.5 billion.

US CMOs Put the Brakes on Marketing Research Spending?

Separately, the latest iteration of The CMO Survey indicates that US CMOs will increase their spending on marketing research and intelligence by 3.4% over the next year.

While that’s a solid level of planned growth, it’s down from the 5.3% forecast earlier this year by CMOs.

In this latest survey, expected growth in marketing research and intelligence investments were highest for:

• B2B Services companies (4.9%) and B2B Product companies (4.6%); as well as
• Companies in the CPG (6.8%) and Banking/Finance/Insurance (6.6%) sectors.

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ESOMAR publishes the Global Top-50 Insights Companies 2022 ranking

IQVIA takes 1st place, the tech-enabled industry continues to grow

ESOMAR released its annual Global Top-50 Insights Companies ranking. This compilation serves two purposes: to acknowledge the largest players moving the insights industry forward and to get a sense of the overall health of the profession worldwide. It includes an expanded definition of the industry beyond its established meaning, with companies in the MarTech arena, consultancies, self-serve platforms, social listening, sample panel providers, or enterprise feedback management firms.

Drivers of growth

After the grisly pandemic, 2021 witnessed a sectorial recovery fuelled by technology's continuous growth, aggressive players' aggressive consolidation, and dazzling investment levels.

Sectorial recovery

The global top-50 companies grew by 14% in 2021, after the sluggish growth registered in 2020. The strong performance of these companies will likely see their combined market share increase slightly during 2021 as they surpass global growth rates.

The necessity many companies had of treading unexplored technological paths to deliver insights, has proved promising for the industry and its future by attracting unprecedented levels of investment in 2021.

Growth of technology

In recent years, the technological side of the industry has shown consistent levels of growth, generally surpassing the most established counterpart. Industrial segments like Digital Data Analytics or Social Listening and Communities (MarTech) grew at stupendous levels during 2021 and expanded by almost one-fourth over that year.

While initially research, data collection, and project scope were the drivers of pricing, it has now transitioned to the specific tools that allow the emergence of insights, also referred to as SaaS, or the availability to crunch large datasets, known as DaaS. The industry is changing in such a fundamental way that it creates unanticipated corporate profitability opportunities. This is already reflected in this year’s ranking.

Consolidation of players

The number of mergers and acquisitions (M&A) in the industry has been fuelled by what until very recently has been easy access to capital and the need to expand the portfolio of products and services.

Probably the biggest arena for consolidation was found in the MarTech sector, where a number of the largest players declared notable growth originating from, precisely, mergers and acquisitions. The most representative example of this is Lightspeed, with a growth of 227% over the year (moving to 32nd place in the ranking).

All in all, up to 20 of the Top-50 companies in the ranking, that is almost 50% of the total turnover reported by the entire ranking, saw a degree of M&A involvement in 2021.

Investment in the industry

Easy access to financial resources, high levels of industry consolidation, and sustained levels of capital return have turned the insights industry into an attractive ground for investors. The Cambiar Capital Funding Index for 2021 estimated investments at USD9 billion, with an observed frenzy into platforms.

Democratised data collection over the years, and movement towards democratising analysis, point to services (consultancy, advisory, etc.) as the remaining pocket of excellent returns.

This notion still seems largely absent from many research agencies, as it is not uncommon for the reporting part of a project to be included in the budget at no extra cost. It is striking to think of all the added value that is being given for free while a parallel sector of the industry is reaping sustained profits from these services.

The ranking in perspective

According to preliminary figures, ESOMAR estimates the share of the Global Top-50 Insights Companies to sit at 53.9%, a slight increase of decimal points to the level estimated for 2020.

The Global Top-50 Insights Companies are a mix of all these three realms: 37% of the turnover is taken by 14 companies related to the established industry, 30% is taken by 17 tech-enabled companies, and 33% by reporting companies.

It is possible to estimate the share of the largest companies within their assigned turnover segment. The result talks about high levels of consolidation within the industry, especially in the reporting sector, where firms like Gartner, IHS Markit, Deloitte, McKinsey & Co. and others hold prominent leadership positions. They represent up to 73% (US$ 20.05bn) of the sector’s global turnover. On the other hand, the technology-enabled industry seems to have the largest room for consolidation, with leading companies representing a share of 41% (US$ 22.15bn).

Fastest growing

With an increase of 227% in turnover, the MarTech (or Digital Data Analytics) company Lightspeed is a witness to the fast-paced capital outpour through rounds of investment and M&As after its 2020 IPO.

In second place and with a growth of 47% is another MarTech company, Hubspot, which surpassed a USD1 billion turnover in 2021 for the first time.

Lastly, Qualtrics, placed within the Self-service Platforms sector, grew 41% over 2021.

ESOMAR’s Global Top-10 Insights Companies

1.     iqvia.

Turnover (USD million): 5,209

Annual growth (2020-21): 19.6%

Market share (%): 5.5%

2.     Gartner

Turnover (USD million): 4,734

Annual growth (2020-21): 15.5%

Market share (%): 5.0%

3.     Salesforce

Turnover (USD million): 3,902

Annual growth (2020-21): 25.9%

Market share (%): 4.1%

4.     Adobe

Turnover (USD million): 3,867

Annual growth (2020-21): 23.7%

5.     The Nielsen Company

Turnover (USD million): 3,500

Annual growth (2020-21): -44.4% (due to split)

Market share (%): 3.7%

6.     Kantar

Turnover (USD million): 3,029

Annual growth (2020-21): 8.7%

Market share (%): 3.2%

7.     Ipsos

Turnover (USD million): 2,539

Annual growth (2020-21): 21.0%

Market share (%): 2.7%

8.     IHS Markit

Turnover (USD million): 2,133

Annual growth (2020-21): 13.2%

Market share (%): 2.3%

9.     CoStar Group

Turnover (USD million): 1,944

Annual growth (2020-21): 17.2%

Market share (%): 2.1%

10.  NielsenIQ

Turnover (USD million): 1,844

Annual growth (2020-21): N/A

Market share (%): 1.9%

Xabier Palacio

Xabier is Senior Manager at ESOMAR's Intelligence Unit and coordinates the production of reports, such as ESOMAR's flagship Global Market Research besides analysing global trends within market research, improving established publications and producing new ones to increase the value for our members and the industry.

Originally from Spain, Xabier has been living in the Netherlands for a number of years, where he studied a Master in International Economics followed by a Master in Marketing at the Erasmus University of Rotterdam. He is fluent in Spanish and English, has a decent command of Dutch, and loves music about as much as analysis.

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2020 Top 50 U.S. Market Research and Data Analytics Companies

Diane Bowers

A full ranking of the top market research and data analytics companies in the U.S. for 2020

The “2020 Top 50 U.S. Report”—formerly known as “The Gold Report”—is developed by Diane Bowers and produced in partnership with the Insights Association and Michigan State University . The report is also sponsored by the AMA, ESOMAR and the Global Research Business Network . The report includes a ranking of the top 50 companies, a breakdown of trends by Bowers , and an analysis of the market research and analytics industry  by Michael Brereton, Melanie Courtright and Reg Baker.

50. RTi Research

Founded: 1979 2019 U.S. revenue: $12.9 million Percent change from 2018: -3% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $12.9 million U.S. employees: 45

In a world awash in data, the challenge is to turn data into something meaningful, something that can be communicated simply and acted upon effectively. RTi Research meets that challenge head-on, turning data into meaning through smart research design, flawless execution and innovative storytelling. Everything the company does is aimed at helping its clients move their ideas and insights through their organizations to influence change. 

RTi has conducted research in just about every category in the U.S. and globally. Informed by 40 years of experience across categories and cultures, RTi knows what works and what doesn’t, when to leverage new technology and methods, and when traditional approaches are best.

49. Hypothesis

Founded: 2000 2019 U.S. revenue: $18.3 million Percent change from 2018: -4.7% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $18.3 million U.S. employees: 61

Hypothesis uses insights, strategy and design to help important brands do amazing things. The company specializes in tough questions that take creative, multidimensional approaches, thoughtful strategy and a broad business perspective. Hypothesis’ approach combines inventive consumer-centric qualitative research, advanced analytics, strategic thinking and data visualization. Its award-winning design team translates complex information into compelling, easy-to-understand deliverables to socialize learnings and engage teams. 

In 2018, Hypothesis added important new capabilities with the launch of Momentum, a strategy that turns insight into application with downstream marketing and implementation planning. The Momentum team has worked alongside Hypothesis consultants on strategic engagements with clients focused on brand strategy, product development, and led dozens of workshops with senior and C-level executives to socialize insights and ideate on next steps. 

In 2019, Hypothesis’ focus on growth continued with its expansion to the Midwest and establishment of its Chicago office. From this office, the company will be able to service new and current clients in the Midwest and on the East Coast.

48. Bellomy Research

Founded: 1976 2019 U.S. revenue: $21 million Percent change from 2018: 1.4% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $21 million U.S. employees: 116

Bellomy is a privately held, family-owned, full-service market intelligence company. Bellomy focuses on driving successful business outcomes through the design and delivery of solutions that yield deeper customer understanding. The company surrounds its clients’ business challenges with an unparalleled mix of knowledge and experience, marketing science and proprietary research technology. 

Bellomy’s work involves both B2C and B2B environments—with qualitative and quantitative insight solutions spanning market segmentation, customer experience and journeys (including digital user experiences), brand equity, product innovation, shopper insights, marketing optimization, social research platforms and research technology. Bellomy works with clients across a broad range of categories and industries including consumer packaged goods, financial services, automotive, retail, restaurant and hospitality, telecommunications and technology, apparel and textiles, utilities, healthcare, insurance and home improvement.

Bellomy serves as an extension of its clients’ marketing research and customer experience departments by integrating a broad set of capabilities and areas of expertise, including segmentation, customer (and digital experience), shopper insights, social research platforms, brand equity, product innovation and marketing optimization. In addition, Bellomy clients leverage SmartIDEAS, the firm’s enterprise consumer knowledge and insight platform. 

47. Edelman Intelligence

Founded: 1999 2019 U.S. revenue: $21 million Percent change from 2018: 12.9% 2019 non-U.S. revenue: $11.5 million Percent from outside U.S.: 35.4% 2019 worldwide revenue: $32.5 million U.S. employees: 131

Edelman Intelligence (EI) is the global research and analytics consultancy of Edelman, the world’s largest global communications firm. Based in New York, with employees in 18 offices internationally, EI houses more than 200 consultants, strategists, researchers, data scientists, data visualization specialists and analysts worldwide. Its specialists are method-agnostic and leverage the best of primary and secondary research, advanced analytics and business science to solve business and communications issues for its clients. EI’s offering spans the full spectrum of client needs, from mapping the current environment and targeting key audiences, to optimizing content and measuring business impact. 

EI partners with early-stage start-ups and Fortune 100 companies alike, providing strategic research, analytics, and insights-based marketing and communications counsel for a broad range of stakeholders and scopes, including government and public affairs, corporate reputation and risk strategy, crisis and issues management, employee experience and talent advisory, executive positioning, strategic communications and public relations, marketing and branding strategy, customer experience and insights, mergers, acquisitions and market entry strategy and more.

Key accomplishments in 2019 included advancement of its Edelman Trust Management (ETM) capabilities, including an evolution of its offering focused specifically on providing guidance for measuring and building trust in brands. Developed building from its 20-plus years studying trust through the Edelman Trust Barometer and the initial iteration of ETM (which explores corporate trust), this proprietary model for brand trust measurement was created in partnership with renowned academics from Harvard Business School and INSEAD, Edelman Brand experts and external marketing thought leaders. In recent months, this model has been engineered to consider fundamental transformations to consumer/brand relationship dynamics that the COVID-19 pandemic has accelerated.

46. KS&R

Founded: 1983 2019 U.S. revenue: $21.7 million Percent change from 2018: -1.4% 2019 non-U.S. revenue: $3.6 million Percent from outside U.S.: 14.2% 2019 worldwide revenue: $25.3 million U.S. employees: 100

KS&R is a privately held strategic consultancy and full-service marketing research company. For nine consecutive years, KS&R has received the highest Gold Index composite score of any provider in the Prevision/Inside Research survey of marketing research buyers. This is a testament to the company’s passion for excellence and client-first business philosophy—wherein KS&R empowers its clients with timely, fact-based insights so they can make smarter decisions and be confident in their actions.

KS&R creates and executes global custom market research solutions for some of the best-known corporations in the world in more than 100 countries and 50 languages. It has extensive and diverse industry experience with particular strength in healthcare (pharma and device), technology, entercom, transportation, professional services, and retail and e-commerce. Team members often include business strategists with client-side experience and deep industry knowledge.

In 2019, KS&R leveraged its expansive network of pharmacy panels to build world-class capabilities for pharma inventory measurement and healthcare insights. Its marketing scientists have driven marked advances in pricing decision support, which have now been validated by positive in-market results. KS&R expanded its portfolio to include insights fusion across multiple channels of content (primary research, social media, web-based information, etc.). And finally, it introduced its KS&R Win-Loss program that provides actionable insights for how organizations can improve their value proposition and sales performance to close more deals.

Founded: 1911 2019 U.S. revenue: $22.7 million Percent change from 2018: 12.9% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $22.7 million U.S. employees: 78

NAXION guides strategic business decisions globally in healthcare, information technology, financial services, energy, heavy equipment and other B2B markets, drawing on depth of marketing experience in key verticals and skilled application of sophisticated and inventive methodologies. The firm’s NAscence Group helps life science innovators develop commercialization strategy through clinical trials design and selection of target indications, forecasting, brand planning and other research-based consulting services.

Engagements routinely include market segmentation, opportunity assessment and innovation, demand forecasting and pricing, positioning, brand health, market monitoring and lifecycle management. The firm deploys multiple data streams including primary research (qualitative and quantitative), secondary data, customer databases and other complex datasets to develop an integrative perspective on business problems. The firm also builds custom panels for B2B markets.

Project leaders with sector experience and research proficiency are supported by in-house methodologists and a wide portfolio of advanced analytic tools, including proprietary modeling services and software, all of them highly customized. The firm continues to invest significant resources in intellectual capital to enhance enterprise decision support with cutting-edge methods, including specialized “small data” choice models, new predictive techniques using big data and brand-customized text analytics. Its Farsight suite supports the building of highly dynamic models capable of producing forecasts for complex market scenarios, including paradigm-shift technologies, and gives market monitoring programs a forward-looking perspective that guides timely market interventions. Other services include litigation and regulatory support, often involving expert testimony in cases involving trademark confusion, deceptive advertising and brand equity. NAXION’s strong commitment to operational excellence is reflected in ISO certification and in-house operations capabilities to deliver exceptional levels of quality control. 

Founded: 1991 2019 U.S. revenue: $24.2 million Percent change from 2018: -3.6% 2019 non-U.S. revenue: $1.2 million Percent from outside U.S.: 4.7% 2019 worldwide revenue: $25.4 million U.S. employees: 144

Gongos is a consultative agency that places customers at the heart of business strategy. Partnering with insights, analytics, marketing, strategy and customer experience groups, Gongos operationalizes customer centricity by helping companies both understand their customer needs and deliver on them better than anyone else.

From product innovation to portfolio management, customer experience to consumer journeys, pricing strategies to marketing optimization, and trend analysis to predictive modeling, Gongos provides both outside-in and inside-out approaches across organizations to drive greater customer attraction, retention and lifetime value.

Gongos further serves as a translator to help cross-functional teams fuel the competency to gain and apply consumer wisdom, transform decisions into action and navigate organizational change. Coalescing enterprise data with primary research and curating insights for multiple audiences further empowers stakeholders to achieve greater ROI by ensuring information is designed to influence actions and behaviors from executives to the frontline. 

Gongos’ consultative tools stem from change management principles that help organizations navigate the transformation often necessary to create a more outside-in perspective as they reorient around the customer. Gongos’ approaches to engage multiple audiences include communication strategies and tactics grounded in frameworks such as its adoption-to-advocacy model and human-centered design.

43. Maru/Matchbox **

Founded: 2016 2019 U.S. revenue: $28 million Percent change from 2018: 3.7% 2019 non-U.S. revenue: $14 million Percent from outside U.S.: 33.3% 2019 worldwide revenue: $42 million U.S. employees: 150

Maru/Matchbox began disrupting the market research industry in 2000. Powered by proprietary technology, its expert teams are deeply invested in key sectors of the economy, including consumer goods and services, financial services, retail, technology, healthcare, public services, and media and entertainment. Maru/Marchbox provides organizations with the tools and insights to connect with the people that matter most, so they can build and maintain a competitive advantage. 

In 2019, Maru/Matchbox released a series of innovative research solutions. 

• Digital Media Measurement is a campaign evaluation approach that enables clients to better understand how content, channels and brands interact to deliver effective communication. 
• Creative Insight measures people’s implicit and explicit responses to advertising, giving clients a complete picture of how their ad is working. It is designed to evaluate any type of ad or brand communication, across all channels, with best-in-class benchmarks.
• Lissted analyzes how members of communities relevant to clients react to content, tweets and even websites. 
• Brand Emotion utilizes visual semiotics to identify and leverage the emotional profile of a brand. 

Maru/Matchbox continues to demonstrate innovation and thought leadership through relentless publication of articles and whitepapers.

42. Chadwick Martin Bailey (CMB)

Founded: 1984 2019 U.S. revenue: $28.7 million Percent change from 2018: 20.6% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $28.7 million U.S. employees: 90

CMB is a research and strategy firm, helping the world’s leading brands engage, innovate and grow amid deep disruption. The company leverages the best of advanced analytics, consumer psychology and market strategy to tackle critical business initiatives, including market identification, segmentation, brand health, loyalty and advocacy, and product and service development.

For more than 35 years, CMB has helped the most successful brands and their executives give voice to their market through a relentless business decision focus, creative problem-solving and storytelling, deeply consultative approach and flawless execution. With dedicated financial services, media and entertainment, tech and telecom, retail and healthcare practices, CMB’s expert teams understand the complex and evolving technological, social, cultural and economic forces that drive disruption and create opportunity.

In 2020, CMB continued its growth trajectory, including building expertise in gaming and digital platforms and expanding its qualitative and advanced analytics teams. A thought leader in the application of consumer psychology to real world business issues, CMB conducted self-funded research among tens of thousands of consumers to capture the four core benefits that motivate decision-making—identity, emotion, social and functional—providing an in-depth look at more than 80 global brands. Further self-funded research explored the accelerating journey and path to purchase of today’s gamers.

41. Screen Engine/ASI

Founded: 2010 2019 U.S. revenue: $33 million Percent change from 2018: 10% 2019 non-U.S. revenue: $1.9 million Percent from outside U.S.: 5.4% 2019 worldwide revenue: $34.9 million U.S. employees: 132

Screen Engine/ASI is a research-based consumer insights firm that stands for delivering its entertainment and media clients actionable insights and recommendations, not simply data. SE/ASI strives to help clients mitigate risk and maximize the potential for success. Through its Motion Picture and TV Groups, SE/ASI works across all distribution platforms for both domestic and internationally produced content. 

The company is centered on assessing the “abilities” of content as it migrates from the earliest stages of development through multi-channel distribution. The Motion Picture Group is the leader in traditional and digital in theater and online recruited audience screenings. Offerings also include PostTrak, a syndicated domestic and international in-theater exit poll, and ScreenExperts, an early assessment of critical response, creative ad testing, positioning and brand studies, custom work, and location-based and online focus group research. A cross-platform team within this group works with home entertainment, over-the-top and gaming clients. 

The TV group is the leader in location-based ViewTrac dial testing of pilots, programs and ongoing series and conducts online dial testing as well. Other offerings include location-based and online focus groups, promo testing, positioning and brand studies, and a variety of custom studies including custom trackers. SE/ASI syndicates Tracktion trackers including a TV tracker, a theatrical movie tracker, a home entertainment tracker and a premium video-on-demand tracker. All groups work in the company’s media lab equipped for biometric and new technology research. When appropriate, SE/ASI engages in advanced analytics techniques including, but not limited to, segmentation, conjoint, maxdiff and TURF analysis. 

40. MarketVision Research

Founded: 1983 2019 U.S. revenue: $33.2 million Percent change from 2018: 2.5% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $33.2 million U.S. employees: 140

MarketVision Research is a full-service marketing research firm, providing clients with actionable insights about their markets, customers, brands and products. Research areas of focus include product and portfolio development, pricing, branding, segmentation and customer experience. The company offers a full suite of quantitative and qualitative research capabilities and works across industry groups. These include:

• Optimization and discrete choice modeling as it applies to product and service development, branding, packaging and pricing.
• Online communities that are managed and developed entirely in-house with a focus on improving participant engagement and with additional support for mobile participation.
• Hybrid research, which uses 20 in-house moderators, along with marketing science professionals and global project managers, to facilitate qualitative and quantitative research seamlessly.

39. The Link Group

Founded: 1994 2019 U.S. revenue: $34.2 million Percent change from 2018: 23.9% 2019 non-U.S. revenue: $0.3 million Percent from outside U.S.: 0.9% 2019 worldwide revenue: $34.5 million U.S. employees: 85

The Link Group executes research for Fortune 500 firms in the healthcare, retail, CPG and finance industries across both qualitative and quantitative methodologies and around the globe. TLG attributes its success to its core business philosophy: smarter research and better service. Its commitment to smarter research has allowed the company to take a creative, custom approach to its clients’ business needs that results in actionable and insightful reports. TLG delivers better service by maintaining a consistent research team across projects, allowing the team to anticipate and respond to client needs. This business philosophy has resulted in 99% of revenue coming from repeat clients.

This past year, TLG has continued to hone its research approaches to help elevate traditional research methods. For its messaging and positioning work, TLG developed a framework that triangulates quantitative survey data to determine how well messaging concepts will activate, communicate and engage the customer. In its segmentation studies, TLG blends science and art to create models that align with the client’s brand strategic vision by creating differences that are meaningful and actionable from a marketing perspective. TLG has leveraged its knowledge of behavioral economics to develop a validated, proprietary quantitative methodology—LinkEQ—that allows the company to reveal latent emotional associations.

Founded: 1983 2019 U.S. revenue: $34.3 million Percent change from 2018: -1.2% 2019 non-U.S. revenue: $1.2 million Percent from outside U.S.: 3.4% 2019 worldwide revenue: $35.5 million U.S. employees: 233

SSRS is a full-service market and survey research firm led by a core of dedicated professionals with advanced degrees in the social sciences. 

SSRS surveys support numerous media and academic partners looking to report on public attitudes and beliefs about a wide range of salient issues such as elections and public policy. SSRS is the polling partner for CNN, and conducts public opinion polling for ABC News, The Washington Post, Politico and CBS News. 

Beyond national polls, SSRS regularly conducts research at a state level, and among subpopulations such as Latinos and political partisans, and specializes in reaching hard-to-reach and low-incidence populations. SSRS has extensive experience in public policy, public affairs and health policy research. Since the Affordable Care Act was signed into law, SSRS has completed numerous studies surrounding its implementation and assessing Americans’ attitudes and experiences with the law. 

Since 2016, SSRS conducts the monthly Kaiser Family Foundation Health Tracking Poll. SSRS is well-known for its weekly telephone Omnibus poll. The firm also offers the SSRS Opinion Panel, which allows clients to conduct probabilistic surveys quickly at low cost. The SSRS/Luker on Trends Sports Poll is the first and longest-running tracking study focusing on sports in the U.S. 

37. BVA Group **

Founded: 1970 2019 U.S. revenue: $36 million Percent change from 2018: 2.6% 2019 non-U.S. revenue: $147 million Percent from outside U.S.: 80.3% 2019 worldwide revenue: $183 million U.S. employees: 120

BVA Group is a fast-growing research and consulting firm, an expert in behavioral science, ranked in the top 20 worldwide agencies. BVA brings data to life and converts deep understanding of customers and citizens into behavior change strategies. BVA operates both for public and private clients with methodologies fueled by data science and behavioral science. 

Its FMCG specialist—PRS IN VIVO—is a global leader in packaging and shopper research. PRS IN VIVO helps consumer marketers to succeed through: 

• In-store and online studies to better understand shopper behavior, in both physical and e-commerce shopping contexts.
• Qualitative studies to develop, screen and refine new product, packaging and merchandising concepts.
• Quantitative studies to pre-test and quantify new packaging, merchandising and display systems (for physical stores and e-commerce).
• Volume forecasting and product testing for both innovations and brand restages.
• “Nudge” initiatives to facilitate behavioral change, create new consumer habits and drive category growth. 

BVA Group is a European leader in customer experience research. More than 100 leading brands use BVA’s behavioral insights to provide seamless shopper journeys and design successful new products and services, including solutions from its multi-awarded Global Nudge-Unit.

36. radius | illumination

Founded: 1960 2019 U.S. revenue: $42 million Percent change from 2018: — 2019 non-U.S. revenue: $1 million Percent from outside U.S.: 2.3% 2019 worldwide revenue: $43 million U.S. employees: 127

Radius│illumination is the product of a merger between Radius Global Market Research and Illumination Research in 2018. Together, it’s one of the largest independent custom insights providers in the world. Its focus is on guiding brands at critical points along their growth journey, tackling issues such as identifying compelling innovations, creating relevant customer segmentations and developing strategies for deeper loyalty and engagement.

Radius | illumination partners with Fortune 500 leaders as well as challenger, disruptor and emerging brands in the U.S., Europe, Asia and the Middle East. Its top sectors include financial services, personal care, healthcare and pharmaceuticals, technology, home improvement and durables, media and entertainment, packaged foods, beverage, retail and transportation.

Its 2020 initiatives to fuel brand growth for its clients include:

• Provide agile and robust solutions such as InnovationSprint to accelerate new product and service development.
• Increase its information design capabilities so clients can easily take action on the results.
• Focus on driving deeper insights by combining its advanced analytics strength with immersive customer understanding in its designs.
• Expand solutions through the integration of new technologies and behavioral approaches.

35. Market Force **

Founded: 2005 2019 U.S. revenue: $50 million Percent change from 2018: 2% 2019 non-U.S. revenue: $7 million Percent from outside U.S.: 12.3% 2019 worldwide revenue: $57 million U.S. employees: 375

Market Force Information provides location-level customer experience management solutions to protect clients’ brand reputation, delight their customers and make them more money. 

Market Force operates at scale across the globe. Each month, the company:

• Completes more than 100,000 mystery shops.
• Collects, processes and analyzes millions of employee and customer experience surveys.
• Manages more than 100,000 inbound calls to its contact center.
• Hosts more than 1 million user logins on its KnowledgeForce reporting platform.

Market Force’s multi-location solutions provide a robust framework for measuring and improving operational excellence, customer experience and financial KPIs. Measurement channels include mystery shopping, customer experience surveys, contact center calls, social media and employee engagement surveys via the KnowledgeForce technology platform and Eyes:On mobile app. Market Force employs predictive analytics to determine what matters most and the ROI for investing in improvements. The firm takes a dual-headed approach to market research services (e.g., customer segmentation, attitude trial and usage studies and custom research projects) and strategic advisory services to design and implement effective measurement systems and improve performance.

Founded: 1991 2019 U.S. revenue: $52 million Percent change from 2018: 4% 2019 non-U.S. revenue: $6 million Percent from outside U.S.: 10.3% 2019 worldwide revenue: $58 million U.S. employees: 400

As a leading customer experience management firm, SMG helps clients get smarter about their customers and employees to drive changes that boost customer loyalty and improve business performance. SMG combines technology and services to collect, analyze and share feedback and behavioral data, so it’s easier for clients to deliver and activate customer insights across their enterprise.

SMG partners with more than 350 brands around the globe to create better customer and employee experiences, which drive loyalty and performance. SMG uniquely combines technology and insights to help clients listen better, act faster and outperform competitors. SMG is a technology-enabled research firm with a global footprint—evaluating more than 150 million surveys annually, in 50 languages across 125 countries. 

Strategic solutions include omniCXTM, Brand Research and Employee Engagement. SMG’s omniCX solution uses multiple research methodologies in capturing solicited and unsolicited consumer feedback across in-store, online, contact center and social channels. Results are aggregated and reported via smg360TM—a real-time, role-based reporting platform providing access to all customer and related data. 

SMG’s research professionals partner with clients to derive business-changing insights. Within Brand Research, SMG offers traditional brand tracking as well as access to dynamic customer and competitor data through market intelligence tool BrandGeek. Fueled by SurveyMini—SMG’s location-based mobile research app—BrandGeek contains consumer feedback and behavioral data relating to more than 4,500 brands across more than 500,000 locations.

33. Hanover Research

Founded: 2003 2019 U.S. revenue: $52.7 million Percent change from 2018: 14.1% 2019 non-U.S. revenue: $2.6 million Percent from outside U.S.: 4.7% 2019 worldwide revenue: $55.3 million U.S. employees: 358

Hanover Research is a brain trust designed to level the information playing field. Hanover is made up of hundreds of researchers who support thousands of organizational decisions every year. One of the industry’s fastest-growing companies, Hanover attributes this market success to its unique positioning as the only firm that provides tailored research through an annual, fixed-fee model. 

Hanover serves more than 1,000 organizations and companies worldwide from established global organizations, to emerging companies to educational institutions. Hanover’s research informs decisions at any level and across any department capitalizing on the exposure to myriad industries and challenges. 

Founded in 2003, Hanover operates on an annual fixed-fee model, and partnership provides its clients with access to a team of high-caliber researchers, survey experts, analysts and statisticians with diverse skills in market research, information services and analytics. There is no limit on the type of challenge that can be asked for on the quantitative and qualitative approaches Hanover uses to deliver solutions—most of which are very difficult to replicate internally.

Hanover’s custom research services include:

• Secondary research: market segmentation and evaluation; labor and demographic trends and forecasts; vendor and product reviews; best practices reports. 
• Survey: survey design, administration and analysis; open-ended response coding. 
• Qualitative primary research: focus group design and administration; in-depth interview design, outreach, administration and analysis. 
• Data analysis: data segmentation and mining; conjoint analysis; linear regression; descriptive and predictive analytics; data forecasting and modeling. 

32. Directions Research

Founded: 1988 2019 U.S. revenue: $54.2 million Percent change from 2018: 17.8% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $54.2 million U.S. employees: 181

Independently recognized as one of the leading business decision insight firms in the nation, Directions Research combines a highly experienced staff with a unique mix of innovative and proven approaches to answer pressing business issues. Directions and SEEK routinely combine primary and connected data from multiple sources to create holistic and actionable analytic stories for their clients. Through digital dashboards, infographics, written reports and other unique visualizations, the firm communicates its knowledge in a manner that is right for today’s leaders. 

Directions and SEEK excel in innovation, optimization, customer and brand experience, brand strategy, strategic business intelligence and visualization across a wide range of industries. The firm offers B2C and B2B services globally, surveying audiences using a broad selection of data collection techniques and combining those insights with existing client knowledge. Directions’ and SEEK’s staff have an excellent mix of client- and supplier-side experience. The organization allows senior researchers to work with clients on a day-to-day basis.

SEEK (acquired in 2018) is a qualitative insight and innovation consultancy, operating as an independent but connected division of Directions. SEEK empathically connects brands with the humans they serve, transforming the brand-to-consumer relationship into a human-to-human one. The SEEK approach builds brand advocacy for clients with the human-centric approach to innovation, activating empathy as an innate problem-solving capability.

31. Fors Marsh Group (FMG) *

Founded: 2002 2019 U.S. revenue: $57.5 million Percent change from 2018: 22.1% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $57.5 million U.S. employees: 263

FMG applies behavioral and data science to improve organizational processes, business solutions and customer experiences. This work is conducted within seven core U.S. markets: health, defense, technology, finance, homeland security, policy and consumer. 

FMG’s work for its clients wins industry and federal awards. FMG has been named as a top market research company by GreenBook and the American Advertising Federation and has been named to the American Marketing Association’s list of top market research companies in the U.S. for five consecutive years. FMG was also a finalist for the American Council for Technology and Industry Advisory Council’s Igniting Innovation 2018 award for creating an innovative e-learning program that improved program awareness and usability for the General Services Administration’s Center for Acquisition Professional Excellence. 

For 2019 and beyond, FMG is focused on continuing this momentum and expanding in important areas. In its human capital practice, FMG is furthering its work in the cybersecurity industry to help the Department of Defense attract top cyber talent and to protect the nation’s infrastructure. FMG is also expanding its efforts in public service recruiting through new partnerships with the U.S. Army, U.S. National Guard and AmeriCorps. The company is proud that its partnership with these institutions will help shape the future of the U.S. For its health division, FMG is leveraging its deep experience in health communications to fight the opioid crisis by reducing stigma and removing barriers that victims face in receiving help—potentially one of the biggest challenges facing America today. 

30. National Research Group (NRG) **

Founded: 1978 2019 U.S. revenue: $59 million Percent change from 2018: 1.7% 2019 non-U.S. revenue: $4 million Percent from outside U.S.: 6.3% 2019 worldwide revenue: $63 million U.S. employees: 200

National Research Group, acquired by Stagwell Media from Nielsen in 2015, is a leading global insights and strategy firm at the intersection of entertainment and technology. Rooted in four decades of industry expertise, the world’s leading marketers turn to NRG for insights into growth and strategy for any content, anywhere, on any device. Working at the confluence of content, culture and technology, NRG offers bold insights for storytellers everywhere. 

Some agencies specialize in qual, others focus on quant—but NRG connects the two disciplines with hybrid teams expert in both modalities. The company is a one-stop, custom consultancy that tailors its approach to solve clients’ biggest challenges. 

The foundation of NRG’s qualitative work is a team of passionate, subject matter experts who connect deeply with consumers in any environment. NRG uses qual to discover the subconscious drivers that fuel our quantitative truths. Its quantitative work is anchored in sophisticated techniques with a focus on agility, creativity and rigor. NRG is method-agnostic and works collaboratively with its clients to solve complex problems in a simple way.

29. Cello Health * **

Founded: 2004 2019 U.S. revenue: $64.5 million Percent change from 2018: 23.3% 2019 non-U.S. revenue: $58.5 million Percent from outside U.S.: 47.6% 2019 worldwide revenue: $123 million U.S. employees: 260

Cello Health consists of four global capabilities that enable the company to offer best-in-class services and an integrated partnership approach to its clients. This unique mix of capabilities, combined with its collaborative approach, results in a unique fusion of expertise, providing powerful advisory and implementation solutions.

• Cello Health Insight is a global marketing research company, providing business intelligence to the healthcare and pharmaceutical sectors. Cello Health Insight specializes in getting to the heart of its clients’ questions, using a large pool of creative and academic resources and providing design of materials and deliverables through a hand-picked project team—selected to best meet the needs of each individual project.
• Cello Health Consulting is the strategic consulting arm of Cello Health, focused on delivering business results by unlocking the potential within organizations, people, assets and brands. Cello Health Consulting works alongside clients to create practical solutions that ensure buy-in and build relationships. 
• Cello Health Communications combines science, strategy and creativity to unlock the potential of brands and assets. Its services underpin differentiated positioning and deliver brand optimization, focusing on multiple areas of development and launch, through commercial maturity.
• Cello Signal is a full-service digital capability bringing impactful messages alive in communications campaigns, content and film.

28. Macromill Group **

Founded: 2000 2019 U.S. revenue: $68.5 million Percent change from 2018: 2.2% 2019 non-U.S. revenue: $260 million Percent from outside U.S.: 79.1% 2019 worldwide revenue: $328.5 million U.S. employees: 275

Macromill Group is a rapidly growing global market research and digital marketing solutions provider bringing together the collective power of its specialist companies to provide innovative data and insights that drive clients’ smarter decisions. Macromill’s industry-leading digital research solutions deliver rapid and cost-effective solutions to the challenges businesses face today. 

The group’s leading business units are Macromill and MetrixLab. Macromill stands at the forefront of innovation, delivering unique marketing solutions. It offers exclusive access to the highest-quality online panels with more than 2 million members. Using its self-developed platform AIRs, Macromill provides full-service online research including automated survey creation and completion, data tabulation and analysis. Today, its business portfolio includes services such as offline quantitative research, mobile research, point-of-service database research (QPR), digital marketing (Accessmill), a DIY survey platform (Questant) and more. 

Metrixlab turns data from online surveys, social media, mobile devices and enterprise systems into valuable business information and actionable consumer insights. This helps leading companies drive product innovation, brand engagement and customer value. Owned and group panels provide expansive access to global respondents in mature and emerging markets. Its teams deliver strategic and tactical decision support by pushing the boundaries of data analysis innovation, combining cutting-edge technology with data science and proven marketing research methodologies. Clients across the globe rely on the company’s hyper-efficient data and insights ecosystem to deliver fast and affordable results.

27. C Space **

Founded: 1999 2019 U.S. revenue: $70 million Percent change from 2018: 2.9% 2019 non-U.S. revenue: $18 million Percent from outside U.S.: 20.5% 2019 worldwide revenue: $88 million U.S. employees: 354

C Space, part of the Interbrand Group, is a global customer agency that marries art and science to create rapid customer insight and business change. 

C Space works with some of the world’s best-known brands—such as Walmart, Samsung, IKEA and more—to build customers into the ways companies work and deliver on customer-inspired growth. By building real, ongoing relationships with customers—online and in-person—brands can stay relevant, deliver superior experiences, launch successful products and build loyalty. Through its “customer as a service” approach of research, consulting and communications, C Space helps businesses minimize risk and maximize growth.

The company integrates customers into the ways its clients work. By bringing stakeholders together around the customer, C Space’s clients create greater clarity and alignment in the actions that will most effectively drive customer growth.

C Space’s customized programs are tailored based on specific business needs and include private online communities, immersive storytelling, data and analytics, activation events, innovation projects and business consulting. C Space continues to invest in its people, existing capabilities like data and analytics, as well as new initiatives.

26. Engine Insights**

Founded: 2004 2019 U.S. revenue: $71 million Percent change from 2018: 4.4% 2019 non-U.S. revenue: $44 million Percent from outside U.S.: 38.3% 2019 worldwide revenue: $115 million U.S. employees: 240

Engine is a new kind of data-driven marketing solutions company. Powered by data, driven by results and guided by people, Engine helps its clients make connections that count—leading to bottom-line growth, an inspired workplace and business transformation. 

Engine Insights (formerly ORC International) connects traditional market research with cutting-edge products to deliver clients a 360-degree view of their customers, employees and markets. Engine’s extended suite of solutions and products are designed to support business growth, from helping clients understand and outperform the competition to operationalizing both survey and behavioral data to identify, attract, engage and retain their audiences.

Engine Insights’ client services and products include custom research and omnibus surveys; customer experience, customer retention and brand engagement studies; and data management and data analytics. 

These services help clients:

• Think beyond products and services to drive business revenue.
• Use insights to inform more relevant messaging and creative.
• Get a complete 360-degree view of their customers.
• Segment audiences for better targeting.
• Develop the perfect product and take it to market.
• Create unique experiences that engage their customers and keep them loyal for a lifetime.
• Build an internal culture that attracts, retains and engages the best talent.

Founded: 1931 2019 U.S. revenue: $71.1 million Percent change from 2018: 9% 2019 non-U.S. revenue: $6.9 million Percent from outside U.S.: 8.8% 2019 worldwide revenue: $78 million U.S. employees: 253

Since 1931, Burke has consistently redefined expectations in the marketing research industry. From segmentation to customer engagement programs, product innovation and brand tracking, Burke prides itself on designing and executing objectives-driven quantitative and qualitative research. Working across a variety of industries, Burke helps its clients gain actionable perspective on their most critical business challenges, providing a range of solutions from agile to integrated strategic decision support.

Today, Burke continues to push the boundaries of what marketing research can be, seamlessly uniting research, strategy and education. Backed by Seed Strategy—its strategic consulting subsidiary—Burke has the capabilities to support its clients throughout every phase of the product or service life cycle, with expertise in strategy, innovation, branding and marketing. In addition, Burke provides comprehensive training on research fundamentals and best practices through the Burke Institute—its dedicated education division and the industry’s leader in research and insights training. Wherever its clients find themselves on the path to success, Burke is uniquely equipped to help them move forward with clarity, confidence and purpose.

Continuing its long tradition of research innovation, Burke recently unveiled two new offerings: Geode|AI, an integrated insights system that analyzes multiple data sources to uncover patterns, relationships and critical insights that are often hidden; and Quantiment, a robust machine-learning solution that jointly extracts richer insights from structured and unstructured data.

24. YouGov *

Founded: 2000 2019 U.S. revenue: $76.8 million Percent change from 2018: 11.8% 2019 non-U.S. revenue: $107.5 million Percent from outside U.S.: 58.3% 2019 worldwide revenue: $184.3 million U.S. employees: 212

YouGov is a global provider of analysis and data generated by consumer panels in 42 markets. Its core offering of opinion data is derived from the proprietary YouGov Global Panel of more than 9 million people. The YouGov Global Panel provides the company with thousands of data points on consumer attitudes, opinions and behavior. YouGov captures these streams of data in the YouGov Cube, its unique connected data library that holds more than 10 years of historic single-source data. In 2019, YouGov panelists completed more than 25 million surveys.

YouGov’s data-led offering supports and improves a wide spectrum of marketing activities of a customer base, including media owners, brands and media agencies. YouGov works with some of the world’s most recognized brands.

Its syndicated data products include the daily brand perception tracker, YouGov BrandIndex and the media planning and segmentation tool YouGov Profiles. Its market-leading YouGov RealTime service provides a fast and cost-effective solution for reaching nationally representative and specialist samples. YouGov’s Custom Research division offers a wide range of quantitative and qualitative research, tailored by sector specialist teams to meet users’ specific requirements. YouGov data is delivered through Crunch, the most advanced analytics tool for research data, combining fast processing with drag-and-drop simplicity. YouGov has a strong record for data accuracy and innovation. 

23. Phoenix Marketing International

Founded: 1999 2019 U.S. revenue: $77 million Percent change from 2018: -3.8% 2019 non-U.S. revenue: $4.5 million Percent from outside U.S.: 5.5% 2019 worldwide revenue: $81.5 million U.S. employees: 343

Global advertising and brand specialist Phoenix Marketing International operates in all major industries, utilizing modern technology, innovative research techniques and customized approaches to help clients elevate their brand, refine their communications and optimize their customer experience. 

With the launch of Phoenix’s AdPi Brand Effect Platform, clients now have access to continuous advertising measurement and performance improvement insights through a single platform, providing the ability to analyze their campaigns at any stage in the advertising life cycle, and the flexibility to draw upon each piece as needed. Through more than 20 years of experience and testing thousands of ads per month, Phoenix developed 19 category-specific ad measurement models that uncover the drivers and creative attributes that explain the “whys” behind an ad’s creative performance, with forward-looking estimates for ad memorability and brand linkage.

Phoenix continues to evolve its CX solution, launching Competitive Customer Experience, a measurement of how consumers perceive their overall experience with a brand, including key touchpoints along the journey. Grounding recent experiences with a client’s brand, competitor brands and non-categorical benchmarking, Phoenix is able to evaluate brand opinion, understand what drives great CX outside of the category, focus on emotional drivers of brand CX, and provide an external view of culture, consistency and brand promises.

22. Concentrix **

Founded: 1983 2019 U.S. revenue: $95 million Percent change from 2018: 11.8% 2019 non-U.S. revenue: $130 million Percent from outside U.S.: 57.8% 2019 worldwide revenue: $225 million U.S. employees: 253

Concentrix is a wholly owned subsidiary of SYNNEX Corp., specializing in technology-enabled customer engagement and improving business performance for clients around the world. With more than 225,000 staff in more than 40 countries, Concentrix provides services to clients in 10 industry verticals: automotive, banking and financial services, insurance, healthcare, technology, consumer electronics, media and communications, retail and e-commerce, travel and transportation, energy and the public sector. 

The Concentrix Voice of the Customer solution combines technology with experience management services provided by its in-house team of hundreds of CX professionals. 

Powered by analytic tools and artificial intelligence, its customer feedback platform ConcentrixCX helps companies listen, analyze and act on omnichannel customer feedback at any point in the customer journey, at scale. Features include data capture and integration, real-time reporting and analytics, and coaching and employee engagement tools. Concentrix continues to invest in enhanced platform functionality—for example, multi-source data expansion of its proprietary text analytics engine, including structured and unstructured customer feedback sources such as surveys, social, messaging, complaints and email. New digital data collection capabilities include a conversational feedback bot and embedded micro-journey surveys. 

Concentrix experience management services range from program management to strategic advisory services and are custom tailored to free clients’ internal teams to focus on transformational impact. Its CX experts specialize in quantitative and qualitative techniques, delivering data-driven insights through solutions such as survey design, relational loyalty research, CX journey analytics, digital channel optimization, customer segmentation, customer effort assessment and integrated CX analytics.

21. Escalent

Founded: 1975 2019 U.S. revenue: $97.1 million Percent change from 2018: -3.4% 2019 non-U.S. revenue: $5.5 million Percent from outside U.S.: 5.4% 2019 worldwide revenue: $102.6 million U.S. employees: 352

Escalent is a human behavior and analytics firm specializing in industries facing disruption. The company transforms data and insights into an understanding of what drives human behavior, and it helps businesses turn those drivers into actions that build brands, enhance customer experiences and inspire product innovation. 

Escalent specializes in automotive and mobility, consumer and retail, energy, financial services, health, technology and telecommunications. Focusing on select industries allows Escalent to function as a trusted business partner who knows the challenges its clients face and understands how to engage their most valuable audiences. 

Escalent has three centers of excellence: Qualitative Research combines emerging technologies, anthropology and ethnography to tap into human insights that reveal real needs and potential; Marketing & Data Sciences combine survey, behavioral, transactional and third-party data to solve tough research challenges; and Insight Communities provides private, online platforms for brands to engage with groups of stakeholders to quickly and easily draw insights.

20. dunnhumby **

Founded: 2001 2019 U.S. revenue: $100 million Percent change from 2018: -3.8% 2019 non-U.S. revenue: $335 million Percent from outside U.S.: 77% 2019 worldwide revenue: $435 million U.S. employees: 230

Dunnhumby is a customer science company that analyzes data and applies insights for almost 1 billion shoppers across the globe to create personalized customer experiences in digital, mobile and retail environments. Its strategic process, proprietary insights and multichannel media capabilities build loyalty with customers to drive competitive advantage and sustained growth for clients. Dunnhumby uses data and science to understand customers, then applies that insight to create personalized experiences that build lasting emotional connections with retailers and brands. It’s a strategy that demonstrates when companies know and treat their customers better than the competition, they earn more than their loyalty—they earn a competitive advantage.

Dunnhumby was established in the U.S. to help retailers and manufacturers put the customer at the heart of their business decisions. Analyzing data from millions of customers across the country, dunnhumby enables clients to use this insight to deliver a better shopping experiences and more relevant marketing to their customers.

By putting best customers at the center of every decision, dunnhumby’s approach delivers measurable value, competitive edge and even more customer data to fuel ongoing optimization, setting clients up for long-term success.

Dunnhumby serves a prestigious list of retailers and manufacturers in grocery, consumer goods, health, beauty, personal care, food service, apparel and advertising, among others. Clients include Tesco, Procter & Gamble, Coca-Cola, Macy’s and PepsiCo.

19. Informa Financial Intelligence**

Founded: 2016 2019 U.S. revenue: $107 million Percent change from 2018: 1.9% 2019 non-U.S. revenue: $36 million Percent from outside U.S.: 25.2% 2019 worldwide revenue: $143 million U.S. employees: 500

Informa Financial Intelligence is a leading provider of business intelligence, market research and expert analysis to the financial industry. The world’s top global financial institutions and banks look to Informa Financial Intelligence for its authority, precision and forward-focused analysis. 

Informa Financial Intelligence consists of key research, analysis and industry experts, such as Informa Research Services, EPFR Global, Informa Global Markets, iMoneyNet, Informa Investment Solutions, eBenchmarkers and Mapa Research.

Informa Financial Intelligence provides fund and wealth managers, traders, insurers, analysts, and investment and retail bankers with the intelligent advantage to make informed decisions, understand past trends, forecast future performance, drive profitability and increase returns.

Because of their strong background in the financial industry, the research teams of Informa Financial Intelligence are highly qualified to help financial institutions with their market research needs. Informa’s researchers are experts in benchmarking studies, competitive intelligence, new product development and usability testing, customer and member satisfaction and loyalty research, brand and advertising awareness research, and mystery shopping services for sales and service quality evaluation, legal and match pair testing, compliance, discrimination and misleading sales practices testing. Informa is considered a leader in the use of market research to limit the risk associated with allegations of discrimination, UDAAP (unfair, deceptive, or abusive acts or practices), predatory lending and misleading sales practices.

18. NRC Health

Founded: 1991 2019 U.S. revenue: $113 million Percent change from 2018: 10.8% 2019 non-U.S. revenue: $3.6 million Percent from outside U.S.: 3.1% 2019 worldwide revenue: $128 million U.S. employees: 448

NRC Health (formerly National Research Corp.) has helped healthcare organizations illuminate and improve the moments that matter to patients, residents, physicians, nurses and staff for more than 38 years. The company offers performance measurement and improvement services to hospitals, healthcare systems, physicians, health plans, senior care organizations, home health agencies and other healthcare organizations. 

NRC Health solutions help organizations stay at the forefront of healthcare by understanding the totality of healthcare consumer and staff experiences. Primary solutions include: 

• Experience solutions capture personal experiences, while delivering insights to power a new benchmark: n=1. Developing a longitudinal profile of customers’ healthcare wants and needs allows for organizational improvement, increased provider and staff engagement, loyal relationships and personal well-being. 
• The Loyalty Index, composed of seven aspects that combine to provide a 360-degree view of healthcare consumer loyalty—a single, trackable metric to identify emerging trends in consumer behavior and benchmark against peers. 
• Market Insights is a large U.S. consumer database that gives partners access to the opinions of 310,000 healthcare consumers in 300 markets, and access to resources to better understand target audiences and gauge consumer response to communications.
• The Transparency solution calculates star ratings from existing patient, resident and family survey data, and publishes those ratings to organizations’ websites. 
• The Governance Institute supports the efforts of healthcare boards across the nation—to lead stronger organizations and build healthier communities. NRC Health partners with organizations to improve governance efficiency and effective decision-making by providing trusted, independent information, tools and resources to board members, executives and physician leaders. 

17. MaritzCX **

Founded: 1973 2019 U.S. revenue: $118 million Percent change from 2018: — 2019 non-U.S. revenue: $44 million Percent from outside U.S.: 27.2% 2019 worldwide revenue: $162 million U.S. employees: 600

MaritzCX is a software and research company that focuses on customer experience management for big business. The company offers a unique combination of award-winning CX software, industry-leading data and research science, deep vertical market expertise and managed program services. MaritzCX provides a full-service professional CX approach designed to continuously improve the customer experience across an enterprise’s customers, employees, prospects and partners. 

MaritzCX’s research insights include its leading CXStandards competitive benchmarking research that delivers quarterly benchmarks for 55 CX categories across 16 industries. Its CXEvolution study of more than 10,000 practitioners’ feedback informed large enterprises of their CX gaps. 

The company’s focus is to leverage the MaritzCX platform, its industry-leading studies and research services to drive more meaningful experiences between its clients and their customers by adding product and research services and continued thought leadership in the CX market. In addition, MaritzCX has received CMS-certification for HCAHPS surveys, becoming the industry’s first CX platform company to offer an inclusive CX-based patient experience platform.

MaritzCX specializes in solutions for key industries, including automotive, financial services, retail, technology, B2B and more. Its global reach includes more than 900 full-time employees and 800-plus part-time or contract employees in 19 offices around the world. MaritzCX provides solutions to more than 500 clients and 1.6 million users who speak 72 languages in 100 countries. MaritzCX is committed to being its clients’ customer experience research partners.

In March 2020, InMoment acquired MaritzCX.

16. DRG (Decision Resources Group) **

Founded: 1990 2019 U.S. revenue: $140 million Percent change from 2018: 2.2% 2019 non-U.S. revenue: $53 million Percent from outside U.S.: 27.5% 2019 worldwide revenue: $193 million U.S. employees: 399

DRG, the Health Science & Analytics Division of Piramal Enterprises, is a global information and technology services company that provides proprietary data and solutions to the healthcare industry. DRG has brought together best-in-class companies to provide end-to-end solutions to complex challenges in healthcare. DRG reframes these challenges, enabling its customers to see the opportunities. Pharmaceutical, biotechnology, medical technology and managed care companies rely on this analysis and data to make informed decisions critical to their success.

Framing the current status and future trends in target healthcare markets using data, primary research and secondary research is a core competency of DRG. Product offerings include high‐value analytics, syndicated research, proprietary databases, decision support tools and advisory services.

DRG has a number of key specialties, including syndicated research focused on new therapeutic opportunities; portfolio planning, changing industry dynamics and global treatment patterns; insights and data on physician and consumer healthcare e‐marketing; and proprietary databases and analytics covering more than 90% of the U.S. managed care markets. 

15. Wood Mackenzie **

Founded: 1973 2019 U.S. revenue: $150 million Percent change from 2018: 3.4% 2019 non-U.S. revenue: $335 million Percent from outside U.S.: 69.1% 2019 worldwide revenue: $485 million U.S. employees: 337

Wood Mackenzie, a Verisk business, is a leading research and consultancy business for the global energy, chemicals, metals and mining industries. Wood Mackenzie launched in 1923 as a small, relatively unknown, Edinburgh, Scotland-based stockbroker. By the 1970s, it had become one of the top three stockbrokers in the UK, renowned for the quality of its equity research. 

Its success has always been underpinned by the clear and simple principle of providing trusted research and advice that would make a difference to clients. This was true when the first oil report was published by its equity analysts in 1973 and remains just as relevant to it today. So much so that, over the past four decades, Wood Mackenzie has drawn upon its heritage to create a global research and consultancy business that has grown alongside the needs of its clients. 

Having cultivated deep expertise in upstream oil and gas, Wood Mackenzie has carefully broadened its focus to deliver the same level of detailed insight for every interconnected sector of the energy, chemicals, metals and mining industries it now serves around the world. But heritage is more than just history. Its expert analysts and consultants have connected the company to some of the most significant events of our time—creating insight for governments, boards and CEOs who have helped shape the future direction of the world’s natural resources industries and their impact on society. 

14. Material *

Founded: 1973 2019 U.S. revenue: $166.7 million Percent change from 2018: 0.3% 2019 non-U.S. revenue: $57.9 million Percent from outside U.S.: 25.8% 2019 worldwide revenue: $224.6 million U.S. employees: 1,038

In 2019, Material (under the name LRW Group) acquired five companies: Killer Visual Strategies, an award-winning visual communication agency based in Seattle; Greenberg Strategy, a Bay Area research and strategy consultancy with a strong presence in the tech community; Karma Agency, a strategic communications firm based in Philadelphia; Salt Branding, a Bay Area consultancy; and T3, an Austin, Texas-based digital marketing agency. This year, Material is taking steps to unify these companies under one brand, integrating their services and building a collaboration that will provide seamless, end-to-end marketing solutions for clients. This year, LRW Group rebranded as Material, formally integrating 10 companies into one modern, unified offering.

Material is a radical collaboration of the top research and analytics firms seamlessly paired with the most creative and strategic marketing agencies, all with the shared mission of igniting growth for the world’s top B2B and B2C brands, from Fortune 500 companies to disruptive start-ups. Material offers a full range of marketing services—from data analytics and insights, to consulting and strategy development, to customer experience programs and creative executions. Material employs a roster of 1,200 strategists, creators, technologists, designers, researchers and storytellers that work side-by-side with clients to solve modern-day problems, build customer loyalty and make an impact on the world around us.

Founded: 1969 2019 U.S. revenue: $173.7 million Percent change from 2018: 0.5% 2019 non-U.S. revenue: $52.6 million Percent from outside U.S.: 23.2% 2019 worldwide revenue: $226.3 million U.S. employees: 5,311

ICF is a global consulting services provider with more than 7,000 professionals focused on making big things possible for its commercial and government clients in the U.S., Europe and Asia. 

Clients work with ICF on issues that matter profoundly to their success, whether it’s a product or program that matters to the business or a social issue or policy that matters to the world. ICF offers comprehensive survey research services that empower clients to gain valuable and actionable insights on issues that matter. 

For more than 40 years, ICF has demonstrated design, methodological and statistical knowledge through the implementation of large and complex survey research projects. Its clients consist of U.S. federal, state and local agencies, universities, nonprofits and commercial organizations. 

Its survey research services include: 

• Analyzing, reporting and presenting findings.
• Conducting surveys through a variety of data collection methods. 
• Designing samples, data collection protocols and instruments.
• Protecting all processes and data through quality assurance and system security.

ICF recently completed the installation of a state-of-the-art, fully integrated and security-enhanced data collection system, allowing the company to securely and most efficiently collect survey research data across all modes. ICF continues to be dedicated to solving the world’s most complex challenges and tackle problems with ingenuity on issues that matter profoundly to its clients.

12. J.D. Power **

Founded: 1968 2019 U.S. revenue: $217 million Percent change from 2018: 3.3% 2019 non-U.S. revenue: $113 million Percent from outside U.S.: 34.2% 2019 worldwide revenue: $330 million U.S. employees: 744

J.D. Power is a global leader in consumer insights, advisory services and data and analytics. Those capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. J.D. Power offers market research, forecasting, consulting, training and consumer surveys of product and service quality, customer satisfaction and buyer behavior. The company’s independent industry benchmark studies, innovative data and analytics products, and customized advisory services provide insights and help companies improve quality, engagement and business performance.

Annual syndicated studies are based on survey responses from millions of consumers and business customers worldwide. The firm does not review, judge or test products and services for its syndicated studies. It relies on the opinions and perspectives of consumers who have used the products and services being rated. 

J.D. Power is most often recognized for its work in the automotive industry, where its metrics have become the industry standard for measuring product quality and customer satisfaction. A team of associates worldwide conducts quality and customer satisfaction research across industries including automotive, financial services, insurance, telecommunications, travel, healthcare utilities and consumer electronics. 

11. Forrester Research Services **

Founded: 1983 2019 U.S. revenue: $233.7 million Percent change from 2018: 32.9% 2019 non-U.S. revenue: $65 million Percent from outside U.S.: 21.8% 2019 worldwide revenue: $298.7 million U.S. employees: 525

Forrester Research Services is the research component of Forrester, one of the most influential research and advisory firms in the world. Forrester works with business and technology leaders to develop customer-obsessed strategies that drive growth. Its unique insights are grounded in annual surveys of more than 675,000 consumers and business leaders worldwide, rigorous and objective methodologies, and the shared wisdom of its most innovative clients. 

Forrester’s research offerings consist of a library of cross-linked documents that interconnect its playbooks, reports, data, product rankings, best practices, evaluation tools and research archives. Research access is provided through role-based websites that facilitate client access to research and tools that are most relevant to their professional roles, including community tools that allow interaction between and among clients and analysts.

Forrester’s research and decision tools enable clients to better anticipate and capitalize on the disruptive forces affecting their businesses and organizations, providing insights and frameworks to drive growth in a complex and dynamic market. 

Founded: 1934 2019 U.S. revenue: $320 million Percent change from 2018: 3.2% 2019 non-U.S. revenue: $1,280 million Percent from outside U.S.: 80% 2019 worldwide revenue: $1,600 million U.S. employees: 860

GfK connects data and science. Innovative research solutions provide answers for key business questions around consumers, markets, brands and media—now and in the future. As a research and analytics partner, GfK promises its clients all over the world “Growth from knowledge.” 

The increasing speed of product innovation, the rise of new channels and emerging customer needs are all part of business today. GfK’s clients are businesses around the globe. To make the best possible business decisions every day, they need more than purely descriptive data—they require actionable recommendations based on advanced analytics and powered by leading-edge technology. GfK is in the unique position to leverage proprietary and third-party data to create indispensable predictive market and consumer insights and recommendations.

GfK’s industry focus provides its market researchers with a thorough understanding of business issues and questions specific to their concerns. Industries covered include automotive, consumer goods, fashion and lifestyle, media and entertainment, retail, technology, and travel and hospitality.

9. comScore * **

Founded: 1999 2019 U.S. revenue: $336.1 million Percent change from 2018: -6.5% 2019 non-U.S. revenue: $52.5 million Percent from outside U.S.: 13.5% 2019 worldwide revenue: $388.6 million U.S. employees: 870

ComScore is a global information and analytics company that measures advertising, content and the consumer audiences of each across media platforms. ComScore creates its products using a global data platform that combines information on digital platforms (smartphones, tablets and computers), television and movie screens with demographics and other descriptive information. 

ComScore has developed proprietary data science that enables measurement of person-level and household-level audiences, removing duplicated viewing across devices and over time. This combination of data and methods enables a common standard for buyers and sellers to transact on advertising. This helps companies across the media ecosystem better understand and monetize their audiences and develop marketing plans and products to more efficiently and effectively reach those audiences. ComScore’s ability to unify behavioral and other descriptive data enables it to provide audience ratings, advertising verification and granular consumer segments that describe hundreds of millions of consumers. 

ComScore offers several solutions to help advertisers maximize cross-platform marketing effectiveness—be it measuring brand impact, viewability or ad and audience delivery validation—as well as power cross-platform advertising for better targeting and stronger advertising ROI. ComScore Advanced Audience segments go beyond age and gender to help advertisers better target consumers based on lifestyles, behaviors, demographics and interests. ComScore pioneered this concept in digital, local and national TV. 

8. The NPD Group

Founded: 1966 2019 U.S. revenue: $339.5 million Percent change from 2018: 8.6% 2019 non-U.S. revenue: $104.5 million Percent from outside U.S.: 23.5% 2019 worldwide revenue: $444 million U.S. employees: 1,185

NPD’s global information and advisory services help the world’s leading brands achieve data-driven growth. NPD combines data, industry expertise and prescriptive analytics across more than 20 industries to help its clients measure markets, predict trends and improve performance.

NPD syndicated services include retail tracking, distributor tracking and consumer tracking. NPD offers weekly data, store-level enabled data for looking at geographies or custom store groupings and account-level information for participating retailers. Point-of-sale data is collected from more than 600,000 doors worldwide, plus e-commerce and mobile platforms. Consumer information is collected via online surveys and NPD’s Checkout service, which uses receipt harvesting to track and analyze purchasing and behavior. Prescriptive analytics include market forecasting, new product forecasting, pricing and promotion evaluation and segmentation. 

With deep expertise in more than 20 industries, NPD provides thought leadership to the C-suites of many of the world’s leading brands. Senior industry advisors are available for strategy sessions to guide long-range planning or address specific needs, such as preparing for earnings calls. Topics include industry and category performance, the state of retail and winning strategies of best-in-class companies.

7. Westat **

Founded: 1963 2019 U.S. revenue: $590 million Percent change from 2018: 3.5% 2019 non-U.S. revenue: $7 million Percent from outside U.S.: 1.2% 2019 worldwide revenue: $597 million U.S. employees: 1,900

Westat is a 100% employee-owned research and professional services company. Westat provides extensive survey design and operations capabilities in support of modern data collection from households, institutions, businesses and individuals. Westat applies multiple modes of data collection and survey management to achieve maximum response rates.

The company’s focus areas and capabilities include: 

• Statistical analysis and methodological research in survey design, experiments and testing, data science and analytics, statistical disclosure control and qualitative research.
• Program, process and outcome evaluation using diverse methodologies from design to implementation to guide each program to success.
• Health research, including behavioral and mental health, clinical studies and clinical trials, public and international health, healthcare delivery, patient safety and health communications campaigns.
• Social policy research and technical assistance for implementing innovative evaluation, quality improvement and service delivery systems.
• Education programs for supporting teachers, conducting evaluations and providing technical assistance.
• Transportation studies of travel behaviors, safety and human factors using advanced technologies such as instrumented vehicles and simulators, field observational studies, and online and mobile device-based surveys.

To support its research projects, Westat designs tailor-made approaches for clients as well as invests in many general and specialized IT technologies and products. Westat also provides licensing, training and support for Blaise, a major data collection software system produced by Statistics Netherlands and used internationally. 

Founded: 1975 2019 U.S. revenue: $682 million Percent change from 2018: 16.2% 2019 non-U.S. revenue: $1,685 million Percent from outside U.S.: 71.2% 2019 worldwide revenue: $2,367 million U.S. employees: 2,025

Ipsos, through its subsidiaries, engages in collecting, processing and delivering survey data for brands, companies and institutions primarily in Europe, the Middle East, Africa, the Americas and Asia Pacific. It explores market potential and market trends, tests products and advertising, helps clients build long-term relationships with customers, studies audiences and their perceptions of various media and measures public opinion trends. Ipsos offers advertising research services, including advertising tracking and brand equity evaluation services that help advertisers in the development, evaluation and improvement of their advertising efforts.

It also provides marketing research services that help clients to identify business opportunities and innovation platforms, develop strategies at point of sale, generate insights and ideas, develop and optimize their mix, and model and forecast sales volumes, as well as offers custom innovative products and solutions to address stakeholder experience and brand-building business goals.

In this unique year, Ipsos has remained strong and reaffirmed its ambition and sense of purpose to deliver reliable information for a true understanding of society, markets and people. Ipsos activates this vision for more than 5,000 customers through its presence in 90 markets both globally and locally. Ipsos covers the whole information production and analysis chain, from the collection of raw data to the activation of the insights. It has a solid tradition of innovation expressed by new methodological developments and continuously renewed product range.

5. Information Resources, Inc. (IRI) **

Founded: 1979 2019 U.S. revenue: $815 million Percent change from 2018: 1.9% 2019 non-U.S. revenue: $510 million Percent from outside U.S.: 38.5% 2019 worldwide revenue: $1,325 million U.S. employees: 3,639

IRI is a leading provider of big data, predictive analytics and forward-looking insights that help consumer packaged goods, over-the-counter healthcare organizations, retailers, financial services and media companies grow their businesses. A confluence of major external events—a change in consumer buying habits, big data coming into its own, advanced analytics and personalized consumer activation—is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quest to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth.

In 2019, IRI announced the integration of artificial intelligence and machine learning into its leading suite of analytics solutions, retained 100% of its major CPG clients and welcomed new strategic partnerships with top retailers in the U.S. IRI added several innovators to its leadership team while continuing to invest in its employees by providing ongoing training. 

4. Kantar **

Founded: 1993 2019 U.S. revenue: $950 million Percent change from 2018: 2.7% 2019 non-U.S. revenue: $2,900 million Percent from outside U.S.: 75.3% 2019 worldwide revenue: $3,850 million U.S. employees: 3,585

Kantar is one of the world’s largest data, insights and consulting companies, bringing together some of the world’s leading research, data and insights expertise. Kantar’s offer covers the breadth of techniques and technologies, from purchase and media data to predicting long-term trends; from neuroscience to exit polls; from large-scale quantitative studies to qualitative research, incorporating ethnography and semiotics. 

In April 2019, all services and offerings of the various Kantar companies were combined under the Kantar brand name. This operational change enables Kantar to build platforms and offers on a global scale and to remove barriers to collaboration and co-creation within the organization to better meet clients’ needs. 

As part of this branding strategy, Kantar launched several initiatives:

• Kantar Marketplace, a global on-demand research and insights store.
• Kantar’s new Brand Guidance System that intelligently integrates validated survey measures with social, search, sales media and behavioral data to provide actionable insights to optimize brand or campaign performance.
• Integration of big data, artificial intelligence and analytical capabilities from across the company into one resource that unlocks deeper insights to fuel growth.

3. Gartner Research **

Founded: 1972 2019 U.S. revenue: $1,800 million Percent change from 2018: 4.7% 2019 non-U.S. revenue: $1,474.5 million Percent from outside U.S.: 45% 2019 worldwide revenue: $3,274.5 million U.S. employees: 4,500

Gartner Research delivers independent, objective advice to leaders across an enterprise through subscription services that include on-demand access to published research content, data and benchmarks, and direct access to a network of approximately 2,300 research experts located around the globe. Gartner Research is the fundamental building block for all Gartner products and services. It combines its proprietary research methodologies with extensive industry and academic relationships to create Gartner products and services that address each role across an enterprise. Gartner’s research agenda is defined by clients’ needs, focusing on the critical issues, opportunities and challenges they face every day. Its proprietary research content, presented in the form of reports, briefings, updates and related tools, is delivered directly to the client’s desktop via its website or product-specific portals.

Within the research segment, Global Technology Sales sells products and services to users and providers of technology, while Global Business Sales sells products and services to all other functional leaders, such as supply chain, marketing, human resources, finance, legal and sales. 

2. IQVIA * **

Founded: 2016 2019 U.S. revenue: $2,220 million Percent change from 2018: 8.6% 2019 non-U.S. revenue: $2,166 million Percent from outside U.S.: 49.4% 2019 worldwide revenue: $4,386 million U.S. employees: 6,000

IQVIA is a global provider of information, innovative technology solutions and contract research services focused on helping healthcare clients find better solutions for patients. Formed through the 2016 merger of Quintiles and IMS Health, IQVIA applies human data science—leveraging the analytic rigor and clarity of data science to the ever-expanding scope of human science—to enable companies to reimagine and develop new approaches to clinical development and commercialization, speed innovation and accelerate improvements in healthcare outcomes. 

IQVIA has three operating segments: Technology & Analytics Solutions, Research & Development Solutions and Contract Sales & Medical Solutions. Powered by the IQVIA CORE, IQVIA delivers unique and actionable insights at the intersection of large-scale analytics, transformative technology and extensive domain expertise, as well as execution capabilities to help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures.

IQVIA has one of the largest and most comprehensive collections of healthcare information in the world, which includes more than 800 million comprehensive, longitudinal, non-identified patient records spanning sales, prescription and promotional data, medical claims, electronic medical records, genomics and social media. Its scaled and growing information set contains more than 35 petabytes of proprietary data sourced from more than 150,000 data suppliers and covering more than 1 million data feeds globally. Based on this data, IQVIA delivers information and insights on more than 85% of the world’s pharmaceuticals, helping its clients run their organizations more efficiently and make better decisions to improve their clinical, commercial and financial performance. 

1. Nielsen **

Founded: 1923 2019 U.S. revenue: $3,875 million Percent change from 2018: 1.6% 2019 non-U.S. revenue: $2,623 million Percent from outside U.S.: 40.4% 2019 worldwide revenue: $6,498 million U.S. employees: 10,300

Nielsen is a global measurement and data analytics company that provides a complete and trusted view of consumers and markets worldwide. Nielsen is divided into two business units: Nielsen Global Media and Nielsen Global Connect. 

Nielsen Global Media provides media and advertising clients with unbiased and reliable metrics that create the shared understanding of the industry required for markets to function, enabling its clients to grow and succeed across the $600 billion global advertising market. Nielsen Global Media helps clients define exactly who they want to reach and optimize the outcomes they can achieve. The company’s cross-platform measurement strategy brings together the best of TV and digital measurement to ensure a more functional marketplace for the industry.

Nielsen Global Connect provides consumer packaged goods manufacturers and retailers with accurate, actionable information and a complete picture of the complex and changing marketplace that brands need to innovate and grow their businesses. Nielsen Global Connect provides data and builds tools that use predictive models to turn observations in the marketplace into business decisions and winning solutions. The business’ data and insights, combined with its open, cloud-native measurement and analytics platform that democratizes the power of data, continue to provide an essential foundation that makes markets possible in the rapidly evolving world of commerce. With Nielsen Global Connect’s set of guiding truths, businesses have the tools to create new opportunities.

* ‘% change’ calculation reflects adjustment of previously reported 2018 U.S. research revenue due to acquisition or divestiture activity or other business change during 2019.

** Some or all figures are not made available by this company so instead are based on research and estimation by the report author.

Diane Bowers is a consultant to research and data analytics businesses and industry associations in the U.S. and internationally. She previously served as the president of CASRO, board chair of the Global Research Business Network, a board member of the Americas Research Industry Alliance and a board member of The Roper Center for Public Opinion Research at Cornell University. She is also a past president of the Market Research Council and the Research Industry Coalition, and a long-time member of American Association for Public Opinion Research, AMA and ESOMAR.

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13 Top Market Research Companies in 2024

Your choice of market research firms — from traditional firms like Ipsos and Kantar to innovative platforms like StartUs Insights — can significantly influence strategic decision-making and product development. Ensuring that your selected partner offers the specific industry insights and data depth required is crucial for receiving accurate information that can drive your business strategy and innovation forward.

Market research companies play a pivotal role in simplifying the complexities of today’s business environment, blending traditional and innovative methodologies for exhaustive market insights.

Traditional market intelligence companies have evolved, while non-traditional entities are transforming the sector through the early identification of startups, scaleups, emerging companies, future trends, and technologies to provide a 360° view of opportunities.

13 Top Market Research Companies:

• Frost & Sullivan
• StartUs Insights
• Zion Market Research
• MarketsandMarkets
• Forrester Research
• Kantar Group
• Kline & Company
• MarketResearch

Credit: Ipsos

Ipsos connects businesses with online communities, offering insights across multiple industries including retail, healthcare, transportation, politics, and automotive. With Ipsos, companies can:

• Assemble custom panels of consumers
• Conduct brand, packaging, and product testing
• Develop studies on healthcare quality and patient satisfaction
• Engage in public opinion polling

Ipsos’ customizable services and global reach provide businesses with the insights required to make informed decisions.

2. Frost & Sullivan

Credit: Frost & Sullivan

Frost & Sullivan is renowned for its extensive industry research and strategy solutions, focusing on innovation opportunities, market trends, and disruptive technologies. Collaborating with Frost & Sullivan offers businesses:

• Detailed market research and analysis
• Growth strategy consulting

Frost & Sullivan’s strategic insights enable companies to identify growth opportunities and navigate market challenges.

3. StartUs Insights

Credit: StartUs Insights

StartUs Insights is a non-traditional market research company that specializes in identifying startups, scaleups, and emerging technologies early on. With access to data on over 4.7 million startups, scaleups, and tech companies, as well as 20 000 trends & technologies, we leverage both AI and human expertise to deliver tailored market reports and custom research services. This unique approach enables businesses to proactively engage with the latest innovations and market shifts across more than 20 industries, including automotive, pharmaceuticals, logistics, mobility, biotechnology, manufacturing, and energy. Services offered by StartUs Insights include:

• Customized market research reports plus competitive intelligence
• Tailored startup and technology scouting
• Innovation scouting and technology tracking
• Detailed analysis of industry trends

Collaborating with StartUs Insights allows you to make informed, confident decisions that not only future-proof your business but also foster strategic growth. To explore how StartUs Insights can transform your market research approach, get in touch for a free consultation.

4. Zion Market Research

Credit: Zion Market Research

Zion Market Research provides comprehensive market research reports, offering insights into global and regional markets across various industry sectors such as healthcare, technology, chemicals, and consumer goods. Working with Zion Market Research, businesses benefit from:

• Extensive market analysis and forecasting
• Sector-specific research reports
• In-depth studies on consumer behavior and market trends
• Custom research services tailored to specific business needs

Zion Market Research’s deep industry knowledge enables companies to navigate market dynamics effectively, ensuring strategic decision-making.

5. MarketsandMarkets

Credit: MarketsandMarkets

MarketsandMarkets is known for its focus on identifying high-growth emerging markets and the technologies driving these sectors. Its market research reports and custom research services are designed to provide:

• Comprehensive market analysis and forecasts
• Insights into technological advancements and innovations
• Custom research tailored to client-specific requirements

By partnering with MarketsandMarkets, organizations gain access to actionable insights that support strategic planning.

6. TrendFeedr

Credit: TrendFeedr

TrendFeedr is an innovative market research platform designed to keep businesses ahead of the curve by identifying and analyzing over 20 000 trends in real-time. TrendFeedr.com specializes in sifting through data from industry reports, company websites, news outlets, social media, and more to deliver actionable insights directly relevant to your market. Services provided by TrendFeedr.com include:

• Real-time trend tracking and analysis
• Competitive intelligence gathering
• Customizable alerts for emerging trends and technologies

With TrendFeedr.com, companies can rapidly adapt to market changes, identify new opportunities, and stay competitive in their respective industries. Moreover, the platform’s focus on emerging trends makes it an invaluable tool for businesses looking to innovate and grow.

7. Forrester Research

Credit: Forrester Research

Forrester Research offers detailed market analysis with a focus on the impact of technology on businesses and consumers. Companies working with Forrester can access:

• Strategic market research reports
• Consumer and business technology insights
• Custom advisory services

Forrester’s forward-looking research assists businesses in anticipating customer needs and technological shifts, enabling them to stay ahead in a rapidly evolving market.

Credit: Mintel

Mintel provides comprehensive market analysis, insights, and forecasts across a range of sectors, including consumer goods, finance, and automotive. Mintel’s services allow businesses to:

• Understand market trends and consumer behavior
• Test and develop new products
• Conduct brand and packaging research

Mintel’s global presence and in-depth industry knowledge empower companies to make strategic decisions.

9. Kantar Group

Credit: Kantar Group

Kantar Group delivers services that cover brand guidance, media effectiveness, creative excellence, and retail & shopper insights. Kantar enables businesses to:

• Understand and leverage brand equity
• Optimize media planning and effectiveness
• Enhance creative development and execution
• Gain insights into shopper behavior and retail strategies

Kantar’s comprehensive approach to market research enables companies to achieve brand and business growth.

10. Gartner

Credit: Gartner

Gartner provides technology-related insights through its research and advisory services that inform business decisions in IT, marketing, and supply chain management. Gartner allows organizations to:

• Navigate IT investments and strategies
• Develop marketing plans and customer engagement
• Optimize supply chain operations and management

Gartner’s expert analysis and advice support businesses in leveraging technology for strategic advantage.

Credit: IQVIA

Specializing in health information technology and clinical research, IQVIA offers:

• Data analytics and research services to the healthcare industry
• Insights into patient care, drug development, and market dynamics
• Custom solutions for healthcare organizations

IQVIA’s expertise in healthcare data and analytics enables businesses to improve patient outcomes and operational efficiency.

12. Kline & Company

Credit: Kline & Company

Kline & Company provides market research and management consulting services focusing on the chemicals, materials, energy, life sciences, and consumer products sectors. Kline offers:

• Market analysis and strategic planning
• Competitive intelligence and benchmarking
• Custom research and consulting services

Kline’s industry knowledge and strategic insights assist companies in navigating market complexities and identifying growth opportunities.

13. MarketResearch.com

Credit: MarketResearch.com

MarketResearch.com is a comprehensive source for market research reports and services, offering data from hundreds of research firms across a range of industries. Services include:

• Access to an extensive collection of market research reports
• Insights into industry trends, forecasts, and market analysis

MarketResearch.com’s vast resources and expertise allow businesses to make data-driven decisions.

Which Company’s Best Suited for Your Needs?

For tailored research insights that align closely with your specific business needs, consider partnering with specialized companies such as StartUs Insights , Zion Market Research, or MarketsandMarkets. These firms offer the expertise and depth of data necessary to dive deeper into emerging technologies and market trends.

If you’re leaning towards more autonomous or flexible market exploration, platforms like TrendFeedr.com may serve your needs more effectively, offering real-time trend analysis.

Ultimately, the selection of a market research partner should be informed by the relevance of their industry focus and the richness of their data sources. This ensures that the insights you receive are both precise and actionable, driving forward your strategy, product development, and broader business objectives.

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More From Forbes

Global top 10 best-selling smartphones: all from apple, samsung.

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Global best-selling smartphones for Q1 2024

Every single one of the top ten best-selling smartphones globally is from one of just two companies: Apple and Samsung. Counterpoint Research just released its report on the top ten best-selling phones, and it’s a pretty familiar story from last year: Apple and Samsung cleaned up.

One change: people are spending more for iPhones, with Apple’s pricy Pro line growing to represent half of all iPhone sales so far this year, up from just 24% in 2023. It’s not just the Pro models that are doing well: Apple’s bigger Max models are also cleaning up, a sign that people increasingly want larger smartphones, says Counterpoint.

Here are the top 10 best-selling models of smartphones globally for Q1 2024, along with the percentage of total smartphone sales they captured:

• iPhone 15 Pro Max: 4.4%
• iPhone 15: 4.3%
• iPhone 15 Pro: 3.7%
• iPhone 14: 1.9%
• Galaxy S24 Ultra: 1.9%
• Galaxy A15 5G: 1.5%
• Galaxy A54: 1.4%
• iPhone 15 Plus: 1.3%
• Galaxy S24: 1.0%
• Galaxy A34: 1.0%

In the same quarter a year ago, Apple also captured the top four global best-selling spots.

Samsung’s high-end Galaxy S24 Ultra also did well, just as Samsung unseated Apple as the phone maker shipping the most units globally.

“The strong performance of the S24 series can be attributed to Samsung’s early refresh of the series, and its efforts in generative AI (GenAI) technology,” Counterpoint says . “The S24 series was the first to reach the market with GenAI features and capabilities, allowing users to create unique content and experience a new level of interaction with their smartphones.”

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The downside of people choosing bigger, better, and more expensive phones: they’re also holding on to those phones for longer, and not upgrading as quickly. For Apple, Samsung, and other smartphone manufacturers, that means fewer sales per year even as cost per unit goes up.

That said, however, Q1 2024 also saw the highest smartphone revenue of any first quarter in history as the global smartphone market grew 6% to hit almost 300 million units shipped, Counterpoint reported just three days ago.

There’s clearly still a market for lower-end and less expensive phones: Apple’s iPhone 14 was the fourth-highest-selling model on the planet, and Samsung’s Galaxy A34 and A54, plus A15 5G, joined its S24 and S24 Ultra model in the top ten.

As selling smartphone units gets harder, Apple is transferring some of its focus to better and more valuable services, which people buy regardless of whether they have a new phone or not. In its recent quarterly earnings report, Apple beat forecasts of $23.1 billion in services revenue, hitting $23.9 billion to go along with a flat quarter of $46 billion of revenue from iPhone sales.

That flat quarter is somewhat concerning, especially given that Apple’s new sales in the U.S.—traditionally a strong market for the company—hit the lowest point in six years last quarter.

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Forrester: To Achieve Sustainable Growth, B2B Firms Must Center Their Revenue Process On Customer Value

Unveiled at B2B Summit North America, the Forrester Opportunity Lifecycle framework breaks through silos to align marketing programs to revenue opportunity

AUSTIN, Texas, and CAMBRIDGE, Mass., May 6, 2024 — New research unveiled at Forrester’s (Nasdaq: FORR) B2B Summit North America , which kicked off today, asserts that changing buyer behaviors and expectations require a complete revenue process transformation for B2B firms to drive long-term, sustainable growth.  

Modern B2B buyers are digitally savvy and conduct their own buying research and therefore control their own buying journeys. Additionally, 71% of today’s B2B buyers are Millennials and Gen Zers , who bring different approaches and expectations to the buying process. These shifts require fundamental change and realignment across marketing, sales, and customer success functions to break through silos and put the customer first to create meaningful interactions both pre- and post-sale. Customer-obsessed companies grow revenue 28% faster and have 33% higher profitability growth and 43% better customer retention rates compared to non-customer-obsessed companies, Forrester data shows.  

At B2B Summit North America, Forrester will unveil the Forrester Opportunity Lifecycle, a new framework designed to help B2B organizations align their marketing, sales, and customer success teams around buyer and customer needs and implement revenue process transformation.  

To transform their revenue process, B2B leaders should consider following the four tenets of the Forrester Opportunity Lifecycle:  

• Share signals to create a unified view of the customer. Every interaction with members of a buying group produces signals that provide insight into their unique journeys. It’s imperative that these signals are gathered into a common view of the customer so that marketing, sales, and customer success teams can create consistent and coordinated interactions.  
• Shift from leads to opportunities and buying groups. Opportunities represent the most accurate view of what a provider does to support a customer’s buying decision. In addition to aligning to solutions and revenue, opportunities are also a key resource for sales to manage progress with prospects, customers, or buying groups.  
• Create shared customer-aligned goals between marketing, sales, and customer success teams. Historically, the revenue process has been constrained by a siloed approach to managing its key functions. Organizations need to create shared objectives to reflect that all customer-facing teams play a role in engaging with prospects and customers throughout the opportunity lifecycle.  
• Create experiences that provide the maximum value for buying group members. Buyers move at their own pace throughout the buying process, with members of the group having various goals in mind. Marketing, sales, and customer success teams should all be ready to engage with buyers when they become the team best suited to showcase value for buying group members.  

“B2B firms that only focus on revenue growth are hindering their long-term success,” said Srividya Sridharan, vice president and group research director at Forrester . “To meet evolving buyer expectations and needs, organizations should shift their perspective from being revenue-centric to being customer-obsessed. They must ensure that their revenue processes are designed to provide demonstrable value throughout the customer lifecycle.”  

Resources:  

• Download Forrester’s report, Embrace Revenue Process Transformation To Drive Long-Term, Durable Growth (client access required).  
• Learn how companies can begin transforming their revenue processes to better serve buyers and customers.  
• Follow  @Forrester  and #ForrB2BSummit for updates.  

About Forrester Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester’s proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; more than 100 million real-time feedback votes; and the shared wisdom of our clients. To learn more, visit Forrester.com.

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Climate risk and the opportunity for real estate

Climate change, previously a relatively peripheral concern for many real-estate players, has moved to the top of the agenda. Recently, investors  made net-zero commitments, regulators developed reporting standards, governments passed laws targeting emissions, employees demanded action, and tenants demanded more sustainable buildings. At the same time, the accelerating physical consequences of a changing climate are becoming more pronounced as communities face storms, floods, fires, extreme heat, and other risks.

These changes have brought a sense of urgency to the critical role of real-estate leaders in the climate transition, the period until 2050 during which the world will feel both the physical effects of climate change and the economic, social, and regulatory changes necessary to decarbonize. The climate transition not only creates new responsibilities for real-estate players to both revalue and future-proof their portfolios but also brings opportunities to create fresh sources of value.

The combination of this economic transition and the physical risks of climate change has created a significant risk of mispricing real estate across markets and asset classes. For example, a major North American bank conducted analysis that found dozens of assets in its real-estate portfolio that would likely be exposed to significant devaluations within the next ten years due to factors including increased rates of flooding and job losses due to the climate transition. Additionally, a study of a diversified equity portfolio found that, absent mitigating actions, climate risks could reduce annual returns toward the end of the decade by as much as 40 percent.

Leading real-estate players will figure out which of their assets are mispriced and in what direction and use this insight to inform their investment, asset management, and disposition choices. They will also decarbonize their assets, attracting the trillions of dollars of capital that has been committed to net zero and the thousands of tenants that have made similar commitments. They will then create new revenue sources related to the climate transition.

Building climate intelligence is central to value creation and strategic differentiation in the real-estate industry. But the reverse is also true: real estate is central to global climate change mitigation efforts. Real estate drives approximately 39 percent of total global emissions. Approximately 11 percent of these emissions are generated by manufacturing materials used in buildings (including steel and cement), while the rest is emitted from buildings themselves and by generating the energy that powers buildings. 1 2019 global status report for buildings and construction , International Energy Agency, December 2019.

In addition to the scale of its contribution to total emissions, real estate is critical in global decarbonization efforts for reasons likely to be compelling for investors, tenants, and governments. Significant reductions in emissions associated with real estate can be achieved with positive economics through technologies that already exist. For example, upgrading to more energy-efficient lighting systems and installing better insulation have positive financial returns. Today, newer technologies also make low-carbon heating and cooling systems, such as heat pumps and energy-efficient air conditioning, more cost competitive in many markets and climates. These cost-effective upgrades can create meaningful change while also derisking assets.

We suggest three actions real-estate players can take to thrive throughout the climate transition:

• Incorporate climate change risks into asset and portfolio valuations. This requires building the analytical capabilities to understand both direct and indirect physical and transition risks.
• Decarbonize real-estate assets and portfolios.
• Create new sources of value and revenue streams for investors, tenants, and communities.

Fundamental changes brought on by the climate transition will open new dimensions of competitive differentiation and value creation for real-estate players. More important, leaders will make a valuable contribution to the world’s ability to meet the global climate challenge.

Incorporate climate change risks into asset and portfolio valuations

Climate change’s physical and transition risks touch almost every aspect of a building’s operations and value. Physical risks are hazards caused by a changing climate, including both acute events, such as floods, fires, extreme heat, and storms, and chronic conditions, such as steadily rising sea levels and changing average temperatures. Transition risks include changes in the economy, regulation, consumer behavior, technology, and other human responses to climate change.

We do mind the gap

As we work with real-estate firms, we notice that investment teams increasingly recognize the impact of climate change on asset values. As one leader of valuations at a major real-estate-services firm recently commented to us: “This is the greatest deviation between modeled valuation and actual price that I’ve ever seen, and it’s because of climate.” A chief operating officer of a diversified real-estate investor told us, “We’ve seen underperformance of a cluster of our assets due to climate-related factors that just weren’t considered in our investment theses.”

The industry at large senses how values are shifting. A recent survey of finance experts and professionals conducted by researchers at New York University found that those who think real-estate asset prices reflect climate risks “not enough” outnumber those who think they reflect climate risks “too much” by 67 to 1 (in comparison with stock prices, in which the ratio was 20 to 1). 1 Johannes Stroebel and Jeffrey Wurgler, “What do you think about climate finance?,” Harvard Law School Forum on Corporate Governance, September 3, 2021. The International Renewable Energy Agency has estimated that $7.5 trillion worth of real estate could be “stranded”; these are assets that will experience major write-downs in value given climate risks and the economic transition, making real estate one of the hardest-hit sectors. 2 Jean Eaglesham and Vipal Monga, “Trillions in assets may be left stranded as companies address climate change,” Wall Street Journal , November 20, 2021.

Physical and transition risks can affect assets, such as buildings, directly or indirectly, by having an impact on the markets with which the assets interact. A carbon-intensive building obviously faces regulatory, tenancy, investor, and other risks; over the long term, so does a building that exists in a carbon-intensive ecosystem. For example, a building supplied by a carbon-intensive energy grid or a carbon-intensive transportation system is exposed to the transition risks of those systems as well. All these changes add up to substantial valuation impacts for even diversified portfolios—an increasingly pressing concern for real-estate companies (see sidebar, “We do mind the gap”).

Physical risks, both direct and indirect, have an uneven effect on asset performance

Several major real-estate companies have recently conducted climate stress tests on their portfolios and found a significant impact on portfolio value, with potential losses for some debt portfolios doubling over the next several years. Notably, they found significant variation within the portfolios. Some assets, because of their carbon footprint, location, or tenant composition, would benefit from changes brought on by the climate transition, while others would suffer significant drops in value. The challenge for players is to determine which assets will be affected, in what ways, and how to respond. There is also opportunity for investors who can identify mispriced assets.

Direct physical consequences can be conspicuous: the value of homes in Florida exposed to changing climate-related risks are depressed by roughly $5 billion relative to unexposed homes. According to the Journal of Urban Economics , after Hurricane Sandy, housing prices were reduced by up to 8 percent in New York’s flood zones by 2017, reflecting a greater perception of risk by potential buyers. 2 Francesc Ortega and Süleyman Taspinar, “Rising sea levels and sinking property values: Hurricane Sandy and New York’s housing market,” Journal of Urban Economics , July 2018, Volume 106. In California, there has been a 61 percent annual jump in nonrenewals of insurance (due to higher prices and refused coverage) in areas of moderate-to-very-high fire risk. 3 Elaine Chen and Katherine Chiglinsky, “Many Californians being left without homeowners insurance due to wildfire risk,” Insurance Journal , December 4, 2020.

The indirect impacts of physical risk on assets can be harder to perceive, causing some real-estate players to underestimate them. For example, in 2020, the McKinsey Global Institute modeled expected changes in flooding due to climate change in Bristol, England . A cluster of major corporate headquarters was not directly affected, but the transportation arteries to and from the area were. The water may never enter the lobby of the building, but neither will the tenants.

The climate transition will affect both individual buildings and entire real-estate markets

The investments required to avoid or derisk the worst physical risks will drive a historic reallocation of capital . This will change the structure of our economy and impact the value of the markets, companies, and companies’ locations. These momentous changes require real-estate players to look ahead for regulatory, economic, and social changes that could impact assets.

Among the most direct climate-transition impacts are regulatory requirements to decarbonize buildings, such as New York City’s Local Law 97. In June 2019, the Urban Green Council found that retrofitting all 50,000 buildings covered by the law would create retrofit demand of up to $24.3 billion through 2030. 4 Justin Gerdes, “After pandemic, New York’s buildings face daunting decarbonization mandate,” Greentech Media, April 23, 2020. Standard property valuation models generally do not account for the capital costs required for a building to decarbonize, and investors and operators are often left with a major capital expense or tax that wasn’t considered in the investment memo.

There is also a host of less direct but potentially more significant transition risks that affect whole markets. For example, some carbon-intensive industries are already experiencing rapid declines or fluctuations. In Calgary, for example, the combination of oil price volatility and market-access issues (driven by climate change–related opposition to pipelines) has dramatically depressed revenues from some buildings. Vacancy rates in downtown Calgary reached about 30 percent, a record high, as of January 2021. Investors exposed to the Calgary market have seen their asset values drop precipitously and are left trying to either hold on and hope for a reversal of fortunes or exit the assets and take a significant loss.

Real-estate players should build the capabilities to understand climate-related impacts on asset performance and values

Real-estate owners and investors will need to improve their climate intelligence to understand the potential impact of revenue, operating costs, capital costs, and capitalization rate on assets. This includes developing the analytical capabilities to consistently assess both physical and transition risks. Analyses should encompass both direct effects on assets and indirect effects on the markets, systems, and societies with which assets interact (Exhibit 1).

Portfolio and asset managers can map, quantify, and forecast climate change’s asset value impact

To understand climate change impact on asset values, landlords and investors can develop the following capabilities to understand and quantify risks and opportunities:

• Prioritize. Create a detailed assessment of the asset or portfolio to determine which physical and transition risks are most important and which are less important (using criteria such as the probability of a risk occurring or the severity of that risk).
• Map building exposures. Determine which buildings are exposed to risks, either directly (for example, having to pay a carbon tax on building emissions) or indirectly (for example, exposure to reduction in occupancy as tenants’ industries decline because of a carbon tax), and the degree of exposure (for example, how high floodwaters would reach). This could require detailed modeling of physical hazards (for example, projected changes in flood risks as the climate changes) or macro- or microeconomic modeling (for example, projected GDP impacts based on the carbon price impact on a local geography’s energy production mix).
• Quantify portfolio impact. Combine assessments of the economic risks on individual buildings into an impact map that enables visualization of the entire portfolio (Exhibit 2). This requires combining knowledge of the potential risk or opportunity and an understanding of what drives the economics of a building (including drivers of net operating income, tenancy mix, and areas of cost variability).
• Take action. These capabilities cannot be isolated in a research or environmental, social, and governance (ESG) function but should directly inform investment management, lease pricing, capital attraction and investor relations, asset management, tenant attraction, development, and other core businesses. The processes within organizations must shift to ensure that climate-related insights can be a source of real competitive advantage.

A portfolio revaluation informed by climate change risks can lead to hard choices but will also open the door to acting on decarbonization and exploring new opportunities.

Decarbonize buildings and portfolios

McKinsey research estimates approximately $9.2 trillion in annual investment will be required globally to support the net-zero transition . If the world successfully decarbonizes, the 2050 economy will look fundamentally different from the current economy. If it doesn’t successfully decarbonize, the world will experience mounting physical risks that will strain the foundations of the global economy and society. In either case, the places where people live, work, shop, and play will fundamentally change.

Decarbonizing real estate requires considering a building’s ecosystem

Ultimately, the only way to reduce the risks of climate change is to decarbonize. Real-estate players have a wide array of options for how to proceed, including low-carbon development and construction ; building retrofits to improve energy efficiency; upgrades to heating, cooling, and lighting technology; and technology to manage demand and consumption. But decarbonization is not solely a technical challenge. To develop the most appropriate path, real-estate players need to understand the range of decarbonization options and their financial and strategic costs and benefits.

Decarbonizing real estate

To decarbonize, industry players can take the following steps:

• Understand the starting point. Quantify baseline emissions of each building. This helps real-estate players prioritize where to start (for example, individual buildings, asset classes, or regions) and determine how far there is to go to reach zero emissions.
• Set targets. Decide which type of decarbonization target to set. There is a range of potential target-setting standards that take different approaches (for example, measuring absolute emissions versus emissions intensity, or setting targets at the sector level versus asset level). Players should develop a “house view” on targets that achieve business, investor, stakeholder, regulatory, and other objectives.
• Identify decarbonization levers. Build an asset- or portfolio-level abatement curve. A marginal abatement cost curve  provides a clear view of the potential cost/return on investment of a given emissions-reduction lever along with the impact of that lever on emissions reduction. This approach can be complemented with market and policy scenarios that change the relative costs and benefits of each potential abatement lever.
• Execute. Set up the mechanisms to effectively deploy the decarbonization plan. These may involve making changes to financing and governance, stakeholder engagement (investors, joint-venture partners, operators, and tenants), and a range of operational and risk-management aspects of the business.
• Track and improve. As investors, lenders, and tenants make their own decarbonization commitments, they will need to demonstrate that their real estate is indeed decarbonizing. Thus, much of the value of decarbonizing will come from the ability to demonstrate emissions reduction to potential stakeholders. Building the ability to monitor and progressively reduce emissions on the path to net zero will create an opportunity for players to differentiate.

Create new sources of value and revenue streams for investors, tenants, and communities

As the economy decarbonizes, real-estate players can use their locations, connections to utility systems, local operational footprints, and climate intelligence to create new revenue streams, improve asset values, or launch entirely new businesses.

Opportunities include the following:

• Local energy generation and storage. Real-estate firms can use their physical presence to generate and store energy. For example, property developers have been outfitting buildings with solar arrays and batteries, helping to stabilize energy grids and reduce the costs associated with clean energy. 5 “5 ways clean tech is making commercial RE more energy efficient,” Jones Lang LaSalle, April 20, 2021.
• Green buildings to attract more tenants. Developers and property managers can invest in developing green buildings or retrofitting older buildings to make them green to meet the growing appetite for sustainable workplaces and homes.
• Green-building materials. Players can explore the advantages of green steel, tall timber, modular construction, and other emerging technologies and materials that may have additional benefits, such as faster and lower-cost construction.
• Extra services on-site. Firms can introduce new revenue streams, including vehicle charging, green-facilities management, and other on-site services that enable occupants’ sustainable preferences.
• Services for reducing and tracking emissions. Firms can support occupants by tracking emissions and offering solutions to reduce carbon footprints. These services could include smart sensors and tracking energy consumption through heating, cooling, lighting, and space management.
• Differentiated capital attraction. Given the volume of capital that has already been committed to achieving net zero, firms that are able to decarbonize will have an advantage in attracting capital. Real-estate players may, for example, create specific funds for net-zero buildings or investment themes that support community-scale decarbonization.

The coming climate transition will create seismic shifts in the real-estate industry, changing tenants’ and investors’ demands, the value of individual assets, and the fundamental approaches to developing and operating real estate. Smart players will get ahead of these changes and build climate intelligence early by understanding the implications for asset values, finding opportunities to decarbonize, and creating opportunity through supporting the transition.

Real estate not only will play a critical role in determining whether the world successfully decarbonizes but also will continue to reinvent the way we live, work, and play through these profound physical and economic changes.

This article was edited by Katy McLaughlin, a senior editor in the southern California office.

Explore a career with us

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Money blog: Loud budgeting - the taboo-busting money hack you can do without giving up daily coffee

Created accidentally by a comedian, "loud budgeting" is breaking down the taboo of speaking about money. Read this and the rest of our Weekend Money features, and leave a comment, and we'll be back with rolling personal finance and consumer news on Monday.

Sunday 12 May 2024 08:58, UK

Weekend Money

• 'Loud budgeting': The money-saving trend that has nothing to do with giving up your daily coffee
• What is most in-demand period property?
• £12m tea advert, downsizing, £320 tasting menus and job interview mistakes: What readers have said this week
• Free childcare applications about to open for new age band
• Where has huge week for UK economy left us?

Best of the week

• How to avoid a holiday data roaming charge (while still using the internet)
• Mortgage rates up again this week - here are the best deals on the market
• My daughter discovered undeclared £600 management fee after buying her flat - can we complain?
• Best of the Money blog - an archive

Ask a question or make a comment

By Jess Sharp , Money team 

Money saving trends are constantly popping up on social media - but one in particular has been gaining huge amounts of attention.

Created accidentally by a comedian, loud budgeting is breaking down the taboo of speaking about money.

The idea is based on being firmer/more vocal about your financial boundaries in social situations and setting out what you are happy to spend your money on, instead of "Keeping up with the Joneses". 

On TikTok alone, videos published under the hashtag #loudbudgeting have garnered more than 30 million views - and that figure is continuing to climb. 

We spoke to Lukas Battle - the 26-year-old who unintentionally created the trend as part of a comedy sketch. 

Based in New York, he came up with the term in a skit about the "quiet luxury" hype, which had spread online in 2023 inspired by shows like Succession. 

The term was used for humble bragging about your wealth with expensive items that were subtle in their design - for example, Gwyneth Paltrow's  £3,900 moss green wool coat from The Row, which she wore during her ski resort trial...

"I was never a big fan of the quiet luxury trend, so I just kind of switched the words and wrote 'loud budgeting is in'. I'm tired of spending money and I don't want to pretend to be rich," Lukas said. 

"That's how it started and then the TikTok comments were just obsessed with that original idea." 

This was the first time he mentioned it...

Lukas explained that it wasn't about "being poor" but about not being afraid of sharing your financial limits and "what's profitable for you personally". 

"It's not 'skip a coffee a day and you'll become a millionaire'."

While talking money has been seen as rude or taboo, he said it's something his generation is more comfortable doing. 

"I've seen more debate around the topic and I think people are really intrigued and attracted by the idea," he said. 

"It's just focusing your spending and time on things you enjoy and cutting out the things you might feel pressured to spend your money on."  

He has incorporated loud budgeting into his own life, telling his friends "it's free to go outside" and opting for cheaper dinner alternatives.

"Having the terminology and knowing it's a trend helps people understand it and there's no awkward conversation around it," he said. 

The trend has been a big hit with so-called American "finfluencers", or "financial influencers", but people in the UK have started practising it as well. 

Mia Westrap has taken up loud budgeting by embarking on a no-buy year and sharing her finances with her 11.3k TikTok followers. 

Earning roughly £2,100 a month, she spends around £1,200 on essentials, like rent, petrol and car insurance, but limits what else she can purchase. 

Clothes, fizzy drinks, beauty treatments, makeup, dinners out and train tickets are just some things on her "red list". 

The 26-year-old PHD student first came across the idea back in 2017, but decided to take up the challenge this year after realising she was living "pay check to pay check". 

She said her "biggest fear" in the beginning was that her friends wouldn't understand what she was doing, but she found loud budgeting helped. 

"I'm still trying my best to just go along with what everyone wants to do but I just won't spend money while we do it and my friends don't mind that, we don't make a big deal out of it," she said. 

So far, she has been able to save £1,700, and she said talking openly about her money has been "really helpful". 

"There's no way I could have got this far if I wasn't baring my soul to the internet about the money I have spent. It has been a really motivating factor."

Financial expert John Webb said loud budgeting has the ability to help many "feel empowered" and create a "more realistic" relationship with money.

"This is helping to normalise having open and honest conversations about finances," the consumer affair manager at Experien said. 

"It can also reduce the anxiety some might have by keeping their financial worries to themselves." 

However, he warned it's important to be cautious and to take the reality of life into consideration. 

"It could cause troubles within friendship groups if they're not on the same page as you or have different financial goals," he said.

"This challenge isn't meant to stop you from having fun, but it is designed to help people become more conscious and intentional when it comes to money, and reduce the stigma around talking about it." 

Rightmove's keyword tool shows Victorian-era houses are the most commonly searched period properties, with people drawn to their ornate designs and features.

Georgian and Edwardian-style are second and third respectively, followed by Tudor properties. Regency ranked in fifth place.

Rightmove property expert Tim Bannister said: "Home hunters continue to be captivated by the character and charm of properties that we see in period dramas.

"Victorian homes remain particularly popular, characterised by their historic charm, solid construction, and spacious interiors. You'll often find Victorian houses in some of the most desirable locations which include convenient access to schools and transport links."

Throughout the week Money blog readers have shared their thoughts on the stories we've been covering, with the most correspondence coming in on...

• A hotly contested debate on the best brand of tea
• Downsizing homes
• The cost of Michelin-starred food

Job interview mistakes

On Wednesday we reported on a new £12m ad from PG Tips in response to it falling behind rivals such as Twinings, Yorkshire Tea and Tetley....

We had lots of comments like this...

How on earth was the PG Tips advert so expensive? I prefer Tetley tea, PG Tips is never strong enough flavour for me. Shellyleppard

The reason for the sales drop with PG Tips could be because they increased the price and reduced the quantity of bags from 240 to 180 - it's obvious. Royston

And then this question which we've tried to answer below...

Why have PG Tips changed from Pyramid shape tea bags, to a square? Sam

Last year PG Tips said it was changing to a square bag that left more room for leaves to infuse, as the bags wouldn't fold over themselves.

We reported on data showing how downsizing could save you money for retirement - more than £400,000, in some regions, by swapping four beds for two.

Some of our readers shared their experiences...

We are downsizing and moving South so it's costing us £100k extra for a smaller place, all money from retirement fund. AlanNorth

Interesting read about downsizing for retirement. We recently did this to have the means to retire early at 52. However, we bought a house in the south of France for the price of a flat in our town in West Sussex. Now living the dream! OliSarah

How much should we pay for food?

Executive chef at London's two-Michelin-starred Ikoyi, Jeremy Chan, raised eyebrows when he suggested to the Money blog that Britons don't pay enough for restaurant food.

Ikoyi, the 35th best restaurant in the world, charges £320 for its tasting menu. 

"I don't think people pay enough money for food, I think we charge too little, [but] we want to always be accessible to as many people as possible, we're always trying our best to do that," he said, in a piece about his restaurant's tie up with Uber Eats... 

We had this in... 

Are they serious? That is two weeks' worth of food shopping for me, if the rich can afford this "tasting menu" then they need to be taxed even more by the government, it's just crazy! Steve T

If the rate of pay is proportionate to the vastly overpriced costs of the double Michelin star menu, I would gladly peel quail eggs for four-hour stints over continuing to be abused as a UK supply teacher. AndrewWard

Does this two-star Michelin star chef live in the real world? Who gives a toss if he stands and peels his quails eggs for four hours, and he can get the best turbot from the fishmonger fresh on a daily basis? It doesn't justify the outrageous price he is charging for his tasting menu. Topaztraveller

Chefs do make me laugh, a steak is just a steak, they don't make the meat! They just cook it like the rest of us, but we eat out because we can't be bothered cooking! StevieGrah

Finally, many of you reacted to this feature on common mistakes in job interviews...

Those 10 biggest mistakes people make in interviews is the dumbest thing I've ever read. They expect all that and they'll be offering a £25k a year job. Why wouldn't I want to know about benefits and basic sick pay? And also a limp handshake? How's that relevant to how you work? Jre90

Others brought their own tips...

Whenever I go for an interview I stick to three points: 1. Be yourself 2. Own the interview 3. Wear the clothes that match the job you are applying Kevin James Blakey

From Sunday, eligible working parents of children from nine-months-old in England will be able to register for access to up to 15 free hours of government-funded childcare per week.

This will then be granted from September. 

Check if you're eligible  here  - or read on for our explainer on free childcare across the UK.

Three and four year olds

In England, all parents of children aged three and four in England can claim 15 hours of free childcare per week, for 1,140 hours (38 weeks) a year, at an approved provider.

This is a universal offer open to all.

It can be extended to 30 hours where both parents (or the sole parent) are in work, earn the weekly minimum equivalent of 16 hours at the national minimum or living wage, and have an income of less than £100,000 per year.

Two year olds

Previously, only parents in receipt of certain benefits were eligible for 15 hours of free childcare.

But, as of last month, this was extended to working parents.

This is not a universal offer, however.

A working parent must earn more than £8,670 but less than £100,000 per year. For couples, the rule applies to both parents.

Nine months old

In September, this same 15-hour offer will be extended to working parents of children aged from nine months. From 12 May, those whose children will be at least nine months old on 31 August can apply to received the 15 hours of care from September.

From September 2025

The final change to the childcare offer in England will be rolled out in September 2025, when eligible working parents of all children under the age of five will be able to claim 30 hours of free childcare a week.

In some areas of Wales, the Flying Start early years programme offers 12.5 hours of free childcare for 39 weeks, for eligible children aged two to three. The scheme is based on your postcode area, though it is currently being expanded.

All three and four-year-olds are entitled to free early education of 10 hours per week in approved settings during term time under the Welsh government's childcare offer.

Some children of this age are entitled to up to 30 hours per week of free early education and childcare over 48 weeks of the year. The hours can be split - but at least 10 need to be used on early education.

To qualify for this, each parent must earn less than £100,000 per year, be employed and earn at least the equivalent of working 16 hours a week at the national minimum wage, or be enrolled on an undergraduate, postgraduate or further education course that is at least 10 weeks in length.

All three and four-year-olds living in Scotland are entitled to at least 1,140 hours per year of free childcare, with no work or earnings requirements for parents. 

This is usually taken as 30 hours per week over term time (38 weeks), though each provider will have their own approach.

Some households can claim free childcare for two-year-olds. To be eligible you have to be claiming certain benefits such as Income Support, Jobseeker's Allowance or Universal Credit, or have a child that is in the care of their local council or living with you under a guardianship order or kinship care order.

Northern Ireland

There is no scheme for free childcare in Northern Ireland. Some other limited support is available.

Working parents can access support from UK-wide schemes such as tax credits, Universal Credit, childcare vouchers and tax-free childcare.

Aside from this, all parents of children aged three or four can apply for at least 12.5 hours a week of funded pre-school education during term time. But over 90% of three-year-olds have a funded pre-school place - and of course this is different to childcare.

What other help could I be eligible for?

Tax-free childcare  - Working parents in the UK can claim up to £500 every three months (up to £2,000 a year) for each of their children to help with childcare costs. 

If the child is disabled, the amount goes up to £1,000 every three months (up to £4,000 a year).

To claim the benefit, parents will need to open a tax-free childcare account online. For every 80p paid into the account, the government will top it up by 20p.

The scheme is available until the September after the child turns 11.

Universal credit  - Working families on universal credit can claim back up to 85% of their monthly childcare costs, as long as the care is paid for upfront. The most you can claim per month is £951 for one child or £1,630 for two or more children.

Tax credits -  People claiming working tax credit can get up to 70% of what they pay for childcare if their costs are no more than £175 per week for one child or £300 per work for multiple children.

Two big economic moments dominated the news agenda in Money this week - interest rates and GDP.

As expected, the Bank of England held the base rate at 5.25% on Wednesday - but a shift in language was instructive about what may happen next.

Bank governor Andrew Bailey opened the door to a summer cut to 5%, telling reporters that an easing of rates at the next Monetary Policy Committee meeting on 20 June was neither ruled out nor a fait accompli.

More surprisingly, he suggested that rate cuts, when they start, could go deeper "than currently priced into market rates".

He refused to be drawn on what that path might look like - but markets had thought rates could bottom out at 4.5% or 4.75% this year, and potentially 3.5% or 4% next.

"To make sure that inflation stays around the 2% target - that inflation will neither be too high nor too low - it's likely that we will need to cut Bank rate over the coming quarters and make monetary policy somewhat less restrictive over the forecast period," Mr Bailey said.

You can read economics editor Ed Conway's analysis of the Bank's decision here ...

On Friday we discovered the UK is no longer in recession.

Gross domestic product (GDP) grew by 0.6% between January and March, the Office for National Statistics said.

This followed two consecutive quarters of the economy shrinking.

The data was more positive than anticipated.

"Britain is not just out of recession," wrote Conway. "It is out of recession with a bang."

The UK has seen its fastest growth since the tailend of the pandemic - and Conway picked out three other reasons for optimism.

1/ An economic growth rate of 0.6% is near enough to what economists used to call "trend growth". It's the kind of number that signifies the economy growing at more or less "normal" rates.

2/ 0.6% means the UK is, alongside Canada, the fastest-growing economy in the G7 (we've yet to hear from Japan, but economists expect its economy to contract in the first quarter).

3/ Third, it's not just gross domestic product that's up. So too is gross domestic product per head - the number you get when you divide our national income by every person in the country. After seven years without any growth, GDP per head rose by 0.4% in the first quarter.

GDP per head is a more accurate yardstick for the "feelgood factor", said Conway - perhaps meaning people will finally start to feel better off.

For more on where Friday's figures leaves us, listen to an Ian King Business Podcast special...

The Money blog is your place for consumer news, economic analysis and everything you need to know about the cost of living - bookmark news.sky.com/money .

It runs with live updates every weekday - while on Saturdays we scale back and offer you a selection of weekend reads.

Check them out this morning and we'll be back on Monday with rolling news and features.

The Money team is Emily Mee, Bhvishya Patel, Jess Sharp, Katie Williams, Brad Young and Ollie Cooper, with sub-editing by Isobel Souster. The blog is edited by Jimmy Rice.

If you've missed any of the features we've been running in Money this year, or want to check back on something you've previously seen in the blog, this archive of our most popular articles may help...

Loaves of bread have been recalled from shelves in Japan after they were found to contain the remains of a rat.

Production of the bread in Tokyo has been halted after parts of a "small animal" were found by at least two people.

Pasco Shikishima Corp, which produces the bread, said 104,000 packages have been recalled as it apologised and promised compensation.

A company representative told Sky News's US partner network, NBC News, that a "small black rat" was found in the bread. No customers were reported to have fallen ill as a result of ingesting the contaminated bread.

"We deeply apologise for the serious inconvenience and trouble this has caused to our customers, suppliers, and other concerned parties," the spokesman said.

Pasco added in a separate statement that "we will do our utmost to strengthen our quality controls so that this will never happen again. We ask for your understanding and your co-operation."

Japanese media reports said at least two people who bought the bread in the Gunma prefecture, north-west of Tokyo, complained to the company about finding a rodent in the bread.

Record levels of shoplifting appear to be declining as fewer shopkeepers reported thefts last year, new figures show. 

A survey by the Office for National Statistics shows 26% of retailers experienced customer theft in 2023, down from a record high of 28% in 2022.

This comes despite a number of reports suggesting shoplifting is becoming more frequent. 

A  separate ONS finding , which used police crime data, showed reports of shoplifting were at their highest level in 20 years in 2023, with law enforcements logging 430,000 instances of the crime.

Let's get you up to speed on the biggest business news of the past 24 hours. 

A privately owned used-car platform is circling Cazoo Group, its stricken US-listed rival, which is on the brink of administration.

Sky News has learnt that Motors.co.uk is a leading contender to acquire Cazoo's marketplace operation, which would include its brand and intellectual property assets.

The process to auction the used-car platform's constituent parts comes after it spent tens of millions of pounds on sponsorship deals in football, snooker and darts in a rapid attempt to gain market share.

The owner of British Airways has reported a sharp rise in profits amid soaring demand for trips and a fall in the cost of fuel.

International Airlines Group said its operating profit for the first three months of the year was €68m (£58.5m) - above expectations and up from €9m (£7.7m) during the same period in 2023.

The company, which also owns Aer Lingus, Iberia and Vueling, said earnings had soared thanks to strong demand, particularly over the Easter holidays.

The prospect of a strike across Tata Steel's UK operations has gained further traction after a key union secured support for industrial action.

Community, which has more than 3,000 members, said 85% voted in favour of fighting the India-owned company's plans for up to 2,800 job losses, the majority of them at the country's biggest steelworks in Port Talbot, South Wales.

Tata confirmed last month it was to press ahead with the closure of the blast furnaces at the plant, replacing them with electric arc furnaces to reduce emissions and costs.

In doing so, the company rejected an alternative plan put forward by the Community, GMB and Unite unions that, they said, would raise productivity and protect jobs across the supply chain.

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