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Top Market Research Companies in India 2025

Published on Oct 14, 2024

In the age of technology and innovation, market research has become an integral part of any business, and the need for accurate market intelligence has only amplified. Today, it has become easier for businesses to reach their target audience through effective research and aid business solutions that promote growth and innovation. Due to its diverse and rich population, India has become one of the leading countries for providing market research services to various businesses.

Market Research - Introduction

Business strategies cannot work without market research. It is not only key for understanding your audience but also assists in capturing useful data that can later be turned into actionable insights. Businesses can even utilize it to understand how their competitors function in the market, which makes it a crucial step for growing businesses. From startups to global corporations, companies rely on market research to adapt to market demands and deliver value to their customers.

Importance of Market Research

Market research is crucial for businesses, regardless of size or industry. Here’s why:

Competitive Strategy: Businesses use market research as an insightful resource for making critical decisions such as product development, marketing strategy revisions, or expansion plans.
Analysis Of Customer Buying Behavior: It assists in understanding the needs and wants of customers, which in turn helps businesses develop products or services that align with the customer's desires.
Market Gaps: Businesses can identify unexplored segments in the market or innovations in products by studying the trends and demand in the market.
Market Positioning: Businesses can assess their competitors to the extent of their existing and potential offerings, which can aid them in improving their own positioning.
Business Viability: Having in-depth knowledge of a target market assures companies that they are taking strategic actions while minimizing the risks of losses.

List of Top 5 Market Research Companies in India

The best market research companies in India are given below.

SG Analytics

SG Analytics is a prominent market research and analytics consulting service that provides organizations with actionable insights from a variety of industries. The company conducts market research for small businesses and specializes in data analytics and business information to businesses so they can make informed strategic decisions.

Core Services

Market Research Consulting Services: SG Analytics specializes in qualitative and quantitative market research. They provide comprehensive market research consulting services, including insights into consumer behavior, market trends, competitive analysis, and product management. By employing a broad global panel of over 4 million respondents, SG Analytics ensures that organizations receive trustworthy and data-driven insights to support sound decision-making.
Primary and Secondary Research: SG Analytics does extensive primary market research, including surveys, telephonic interviews, focus groups, and UX research, to deliver first-hand data. They also provide secondary market research services, which include obtaining and evaluating existing data from internal and external sources to support business strategy.
Quantitative and Qualitative Research: SG Analytics conducts quantitative market research to gather statistical data that helps organizations understand customer preferences and trends. Their qualitative market research methodologies, which include focus groups and in-depth interviews, provide valuable insights into customer experiences and perspectives.
Impact on businesses: SG Analytics enhances organizations' market strategy by giving important insights into customer wants and competitive situations. Their market research solutions, which include market segmentation, product creation, and pricing strategy, help firms optimize their products, improve marketing efficiency, and increase consumer satisfaction. SG Analytics also helps with competitor analysis, allowing organizations to stay ahead in competitive markets.
Innovations: SG Analytics uses new technologies like data analytics and AI to improve the speed and accuracy of their research. Their unique use of technology provides clients with real-time, actionable insights, providing them a competitive advantage in the marketplace.

market research firms in India

Nielsen India

Nielsen India, a leading market research company, has been providing actionable insights since 1992. The organization combines worldwide knowledge with a thorough understanding of India's diversified market, allowing businesses to efficiently navigate consumer behavior and industry trends.

Core Services

NielsenIQ Connect: This innovative platform combines data from several sources to provide organizations with a comprehensive perspective of consumer behavior, market trends, and competitive landscapes. NielsenIQ Connect helps organizations make more confident data-driven decisions by leveraging AI and advanced analytics.
Consumer Panels: Nielsen India uses a variety of consumer panels to track real-time purchasing behavior across demographics. These panels offer significant insights into consumer preferences, allowing firms to improve their product offers, pricing tactics, and marketing efforts.
Retail Measurement Services: These services assist firms in determining their market share, monitoring category performance, and evaluating the efficiency of their retail strategies. Nielsen India gives actionable insights by measuring sales across many channels.
Impact on Businesses: Nielsen India's services help firms make informed, data-driven decisions, particularly when introducing new products or updating marketing strategies. Its brand performance monitoring tools enable businesses to track the efficacy of their campaigns in real time, while media measurement services ensure that advertising budgets are spent wisely by giving data on audience reach, program popularity, and ad effectiveness.
Innovations: To stay competitive, Nielsen India is increasingly relying on artificial intelligence and predictive analytics. These improvements improve its capacity to accurately estimate industry trends and customer behavior, providing organizations with actionable information to steer long-term strategy. The introduction of AI-powered solutions enables Nielsen to provide faster, more trustworthy data, ensuring that organizations can respond rapidly to market movements.

Ipsos India

Ipsos India, a part of the global Ipsos Group, is one of India's most well-known market research companies. Since its beginning, Ipsos India has provided creative and analytical data to help organizations understand consumer behavior, market dynamics, and competitive landscapes. With its global expertise and local knowledge, Ipsos India provides personalized solutions to businesses navigating the complicated Indian market.

Core Services

Consumer Research: Ipsos India specializes in analyzing consumer preferences, habits, and attitudes. Using advanced survey methodology and qualitative research, it provides detailed insights into the wants and expectations of various consumer categories, allowing firms to efficiently design their products and services.
Brand Health Tracking: Ipsos's brand health tracking solutions enable organizations to analyze their brand's market performance. This service monitors key performance factors such as brand recognition, loyalty, and perceptions, allowing businesses to understand how customers perceive their brand changes to improve their market position.
Advertising Research: Ipsos India's advertising research services are focused on determining the success of advertising campaigns. Ipsos' pre- and post-campaign evaluations provide useful insight into consumer recall, ad effectiveness, and overall campaign impact, assisting firms in optimizing their advertising strategies.
Impact on businesses: Ipsos India's insights assist organizations traverse complex market environments by allowing for data-driven decision-making. Its customer research enables businesses to better understand consumers' requirements and preferences, resulting in more effective product development and marketing tactics. Brand health tracking systems provide organizations with constant input, allowing them to alter their tactics for improved brand positioning.
Innovations: Ipsos India is progressively using digital research technologies and artificial intelligence to improve data collecting and analysis. Ipsos India provides faster and more accurate insights through online panels, smartphone polls, and AI-powered analytics. These advancements allow organizations to make decisions in real time and stay ahead of the competition.

Markets and Markets

Markets and Markets is a top global market research and consulting organization with a significant presence in India. The organization is well-known for its broad industry studies and data-driven insights, and it specializes in assisting businesses of all sizes to understand market trends, competitive landscapes, and new prospects. Markets and Markets combines research experience and technology to provide actionable insights for businesses looking to compete in the ever-changing global market.

Core Services

Market Research Reports: Markets and Markets provides in-depth market research reports across industries, including healthcare, information technology, chemicals, and consumer products. These papers provide market size, growth estimates, trends, and competitive information to help organizations make informed decisions.
Custom Research: The organization also offers customized research solutions to satisfy the unique needs of its clientele. Markets and Markets provides specialized insights and strategic advice that promote success in competitive markets by knowing each company's specific issues and objectives.
Competitive Market Intelligence: Markets and Markets specializes in competition intelligence, which assists organizations in tracking competitor activity, analyzing industry trends, and understanding market dynamics. This tool allows businesses to discover opportunities and dangers, which helps them stay ahead of the competition.
Impact on businesses: markets and Markets help firms navigate complex marketplaces by providing in-depth analysis and forecasts. Companies benefit from their market research studies because they provide insights into industry trends, growth opportunities, and market dynamics that aid in product creation and strategic planning. The competitive intelligence service helps organizations remain ahead by delivering real-time information about competitor activity.
Innovation: Markets and Markets uses cutting-edge technologies such as artificial intelligence, machine learning, and big data analytics in its research methodology. These advancements improve the accuracy and speed of data processing, enabling the organization to give faster, more accurate insights to businesses in a continuously changing industry.

Median Research & Consulting

Median Research & Consulting is an established market research and consulting organization in India that provides thorough insights across a wide range of sectors. With a focus on providing reliable and useful data, the company assists businesses in understanding customer preferences, competitive landscapes, and marketing trends. Median Research & Consulting is dedicated to offering data-driven solutions that help firms make strategic decisions in a variety of industries.

Core Services

Market Research Services: Median Research & Consulting provides a host of market research services, including qualitative and quantitative research. Their services are intended to help organizations better understand customer behavior, market dynamics, and new trends. Median's surveys, focus groups, and in-depth interviews give essential insights that help firms stay competitive.
Competitive Intelligence: The company specializes in competitive intelligence, which helps organizations track and analyze rival actions. By analyzing the tactics, strengths, and vulnerabilities of significant market participants, Median assists clients in making educated decisions that will keep them competitive.
Customer Satisfaction Surveys: Median Research & Consulting offers customized customer satisfaction surveys to assist organizations in assessing customer experiences and discovering areas for development. These surveys provide significant insights into client expectations, allowing firms to strengthen their offers and increase customer retention.
Impact on businesses: Median Research & Consulting helps firms connect their plans with market demands. Market research services provide firms with a thorough grasp of customer preferences and market trends, allowing them to make data-driven decisions. Competitive intelligence services enable organizations to monitor rival moves and alter their tactics to attain market leadership.
Innovations: Median Research & Consulting uses cutting-edge technology like data analytics and artificial intelligence to enhance data collecting accuracy and speed. These advancements ensure that organizations receive current, trustworthy insights, enabling them to stay updated with market trends and competition.

top 10 market research companies in India

Why India is a Hub for Market Research Services?

India is today perceived as a global hub for market research services due to its unique combination of cost-effectiveness, technological expertise, and market diversity. Here's why the country stands out in the field:

Cost-Effectiveness

With excellent quality market research services available at competitive rates, India emerges as one of the most favorable locations for businesses globally. What’s more, the combination of low operational costs and skilled professionals allows companies to achieve top-notch results on a reasonable budget.

Skilled Workforce

India is home to a vast pool of analysts, statisticians, and a large base of data scientists. They have expertise in qualitative market research and quantitative research, ensuring thorough insights are drawn. Their proficiency in English further enhances their ability to be more appealing to a wider audience.

Technological Advancements

Indian businesses have complemented new-age technologies like big data analytics, artificial intelligence, and machine learning. Integrating these tools with traditional or existing research techniques results in actionable and resourceful information for businesses around the world.

Government Support and Policies

Market research industry growth has also been aided due to programs such as Digital India and Internet penetration. These policies facilitate innovation, enhance accessibility to data, and ensure that the research growth environment is optimal.

Role of Market Research Companies

Market research agencies in India help businesses understand their customers, competitors, and market conditions. They also help in making decisions by providing accurate, insightful information that helps the business grow. Below are the key roles of market research firms:

Market Trend Analysis

The companies conducting market research assist businesses in pinpointing future potential trends, allowing them to anticipate changes in consumer behavior, technology, and the market. Moreover, early trend identification aids organizations in redesigning their business strategies and products to accommodate consumer demands.

Customer Insights

These firms focus on comprehending the various factors that affect customer decisions by accumulating a database of customer preferences and actions. This makes it possible for businesses and their marketing teams to ensure that their products are properly designed and positioned in the market.

Competitive Analysis

Research firms analyze the competitors’ strengths, weaknesses, and strategies. They provide the insight one requires to stand out in the market. After going through the analysis, companies can understand the gaps and formulate their strategies accordingly.

Risk Management

The research firms also analyze risks, including economic and market risks, so that the businesses can make wise choices. By understanding risks, companies can develop strategies to mitigate or avoid them.

Market Segmentation

By taking into consideration factors such as demographics or behavioral patterns, market research firms assist in determining whether or not a particular business is targeting the correct audience and improving marketing efficiency. This improves customer engagement and optimizes marketing efforts.

Product Development and Innovation

These businesses work with companies to assist them in recognizing consumer needs and developing new ideas for products and services to fill market gaps. Their insights ensure that new products meet market demand and reduce the risk of failure.

Brand Perception and Positioning

Market research firms assess how customers perceive a brand, allowing companies to make informed decisions on how to strengthen their brand image and its positioning on the market. This assists in adding value to the customers’ brand as companies can relate better to their consumers.

Strategic Planning and Decision Making

Market research companies help businesses with important facts that enable them to make decisions regarding entering new markets, launching new products, or enhancing existing ones. Such useful facts and insights direct the company in the right direction, increasing its chances of success.

top market research companies in India

How to Choose the Right Market Research Company in India?

Choosing the right market research company is essential for gaining insights that help in making informed business decisions. With many options available in India, consider these key factors when selecting a firm.

Industry Expertise: Make sure the company has experience in your sector. Firms specializing in your industry understand the unique issues and can offer relevant, tailored insights. For example, a corporation with FMCG experience will better understand consumer behavior in that sector.
Research Methodology: Check the company's research methodologies. Different techniques, such as primary (surveys, interviews) and secondary (existing data), can provide unique insights. Choose a company that uses the methods that are most appropriate for your business objectives.
Reputation and Experience: Look for companies that have a solid reputation and a track record of providing important insights. Check client evaluations, case studies, and their industry track record to guarantee they can effectively satisfy your requirements.
Customization and Flexibility: The company should provide specialized research solutions. A good enterprise will offer tailored services that fit individual requirements, such as offering customized reports or modifying research scopes to deliver the insights you seek.

Benefits of Hiring a Professional Market Research Company

Here’s how businesses benefit from professional market research services:

Expertise and Knowledge: Professional market research companies hold extensive expertise and knowledge that are useful to any business. Professional market research firms facilitate intelligent business decisions through accurate analysis and insight by deploying proficient teams equipped with the best tools and methodologies.
Access to Advanced Tools and Technology: These firms use advanced tools and technologies like AI and data visualization to analyze large amounts of data. This helps them uncover deeper insights, which might be challenging for businesses to do on their own without these resources.
Time and Resource Savings: Outsourcing their market research to various firms enables businesses to save on both time and resources. Instead of wasting their time and energy on gathering and analyzing data, they are able to hire specialists to do that efficiently, allowing the business itself to focus on other issues that require their attention.
Reliable and Accurate Data: Market research companies use reliable and proven techniques to gather data, which gives credibility and accuracy to the data. This allows companies to make decisions with the right information, eliminating the risks that come with inaccurate data.
Better Decision-Making: With high-quality insights from market research firms, businesses can make smarter, data-driven decisions. This leads to more successful strategies and helps businesses adapt better to market trends and customer preferences.

Future Outlook of the Market Research Industry in India

Due to the changing tech landscape and the growing need for data-driven insights, the market research sector in India is expected to grow tremendously. Some of the key factors shaping its future include:

Increased need for data-driven insights: Businesses in India will increasingly rely on data to fine-tune strategies, develop goods, and focus marketing campaigns. This will increase the demand for market research that provides useful consumer and market insights.
Technological advancements: Artificial intelligence, ML, and big data are revolutionizing market research by allowing for faster analysis and richer insights. Real-time data from the IoT will also improve consumer tracking, making market research more efficient and precise.
Growth in Emerging Sectors: E-commerce, healthcare, finance, and electric cars are among the fastest-developing sectors in India. These industries will increase the demand for specialized market research to understand consumer preferences and optimize their offers.
Global Opportunities: Indian enterprises are increasingly catering to worldwide clients, strengthening India's status as a global research hub.

Conclusion - Top Market Research Companies

Market research is critical for firms to succeed in India's dynamic economy. Partnering with top firms such as Nielsen India, SG Analytics, and Ipsos India can help enterprises acquire a competitive advantage, find opportunities, and make data-driven decisions. As technology continues to alter the sector, Indian market research organizations are well-positioned to take the lead globally.

A leader in Market research, SG Analytics enables organizations to achieve actionable insights into products, technology, customers, competition, and the marketplace to make insight-driven decisions. Contact us today if you are an enterprise looking to make critical data-driven decisions to prompt accelerated growth and breakthrough performance.

About SG Analytics

SG Analytics (SGA) is an industry-leading global data solutions firm providing data-centric research and contextual analytics services to its clients, including Fortune 500 companies, across BFSI, Technology, Media & Entertainment, and Healthcare sectors. Established in 2007, SG Analytics is a Great Place to Work® (GPTW) certified company with a team of over 1200 employees and a presence across the U.S.A., the UK, Switzerland, Poland, and India.

Apart from being recognized by reputed firms such as Gartner, Everest Group, and ISG, SGA has been featured in the elite Deloitte Technology Fast 50 India 2023 and APAC 2024 High Growth Companies by the Financial Times & Statista.

FAQs - Market Research Companies in India

What is the role of a market research company?

Market research companies give information on pursuing goals and understanding trends, customer wants, and competition on a business level. Hence, they help companies in making decisions.

Which are the best market research firms in India?

India has countless market research firms, among which the leading companies include Nielsen India, SG Analytics, Ipsos India, Markets And Markets, and Median Research & Consulting.

How do market research firms collect data?

They contact people personally or use surveys, focus groups, and interviews, as well as online analytics and secondary research.

What industries benefit the most from market research?

FMCG, retail, healthcare, technology, finance, and automotive industries can all benefit from market research activities.

Why is market research critical for businesses operating in India?

India’s diverse market and rapidly changing consumer behaviors make market research essential for understanding and adapting to local and regional dynamics.

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