NEWS: Top UK market research firms generate £3bn
(Above: The top 10 agencies ranked by turnover. Source: Research Live Industry Report).
The latest Market Research Society (MRS) League Tables are published in the Research Live Industry Report 2018 (based on 2016 financial data, analysed in 2017).
The report shows strong, if slowing, growth for research, with the combined turnover of the top 100 individual agencies amounting to just over £3bn in turnover during 2016 – 2.8 per cent year-on-year growth.
Overall, 67 of the Top 100 individual agencies recorded growth, with the top 10 accounting for just over half (50.8 per cent) of total turnover.
The UK research industry remains larger per head than anywhere else in the world, with £61 spent on research per capita. This exceeds the equivalent figures for the USA (£45), Germany (£27) and France (£25).
Jane Frost, CEO of MRS, said: “The majority of companies that responded to the MRS Industry Survey 2017 are optimistic that their revenues will grow year on year, and the story of steadily expanding investment in qualitative research remains a positive one.
“However, growth for the top 100 individual agencies has slowed, demonstrating that the path to higher turnover is seldom smooth. As we are faced with the uncertainty of Brexit and an increasingly volatile economic landscape there will be some difficult times ahead, but I am confident that as a sector we are well equipped to face these challenges head on.”
Download the report here.