The evolution of technologies and shifts in the behaviors of consumers, as well as the state of the economy, drive change within the market research industry at a very fast pace. In 2024, such trends and others still emerging will be factors for more companies in refining their strategies, satisfying customer needs, and obtaining competitive advantage. From AI-facilitated analysis to the rising concern over data privacy, the market research industry will certainly go through significant transformations.
Market Research Industry Introduction
To understand the current state of the market, it is important to learn about those developments, which are referred to as market research trends. It includes factors that explain the incorporation of these trends into target market strategies, which shifts views on trends into how data would be delivered. In this paper, we will examine some of the major market research trends in 2025 and how these trends are experienced in different parts of the world. We will also discuss some of the market research problems, including market research tools and the impact of B2B market research businesses in the growing realm of data analytics and market research.
Market Research Industry Trends
Market Research Industry Trend 1: AI and Automation in Market Research
Market Research definition in 2025 will change due to AI and automation among all the transformations that are occurring in the market research industry. Most practitioners are confused by automation and like it. However, once again, some specialists in the field of data collection, analysis, and the generation of insights tend to forget one term: Artificial Intelligence.
NLP and sentiment analysis, which can be classified as AI tools, are changing the way companies carry out market research services. Instead, these tools help collect and process responses from customers, analyze their social media activities, or scrutinize the reviews left by online customers to discover trends and areas that need improvement. Moreover, AI is used to forecast the patterns of purchase behavior and trends in the market, which would give the business some advantage over the competition in the future.
Automation is also streamlining the research process by eliminating repetitive tasks like data entry and report generation. This allows market research teams to focus on higher-value activities like interpreting data and developing actionable insights. The result is a more efficient, cost-effective, and scalable research process that enables businesses to respond quickly to market changes.
Read more: The Impact of Generative AI in Revolutionizing Market Research
Market Research Industry Trend 2: Real-time Data Analytics
In the year 2025, real-time data analytics is likely to grab attention as companies need responses instantly for decisions. Conventional market studies, which depend on historical data, are no longer relevant in a dynamic and changing business environment. Increasingly, businesses require data that is in real time On how customers behave in the market, how the market is changing, and what trends are rising.
Through analytics, data is collected as it is being generated by the business through social media, customer feedback, surveys, or any other methods available at that time. This aids in quick decisions, such as changing marketing schemes and strategies based on rapid alterations in markets. For instance, retailers hope to exploit the availability of real-time data to measure customers’ attitudes toward their products at the time they are introduced to the market.
In such areas as retail, finance, and technology, the importance of real-time analytics is high because these areas imply the necessity of a response to quickly changing market conditions. Embracing the use of market research tools, which allow for the studies to be done in real-time, will come in handy for the enterprise in this fast-changing environment, too.
Market Research Industry Trend 3: Personalized Consumer Insights
The trend of consumer expectations is changing rather rapidly, and as such, personalization for many businesses has moved up the charts. By the year 2024, being able to deliver ‘personalized consumer insights’ would be in high demand for market research. Corporations now use individual consumers’ interests through the application of smart segmentation techniques and behavioral data. As such, businesses are aligning their products, services, and marketing strategies effectively.
AI research tools come in image-based interaction with clients, collecting their feedback, preferences, and purchases to offer individual insights. In most cases, these tools help develop the target audience well and address different possible needs with shopping recommendations. Such insights offer e-commerce industries the ability to suggest products suitable for each user. At the same time, such services rely on such insights to deliver relevant content according to each viewer’s needs.
With this kind of consumer behavior, market research companies have had to come up with advanced techniques for gathering and analyzing data. This trend is most noticeable in B2B market research companies, particularly in businesses where more granularity is required in terms of customers’ requirements and, hence, more customized solutions.
Read more: What are the Significant Challenges for Marketing Research?
Market Research Industry Trend 4: Data Privacy and Ethical Research
In 2024, one important integration in the business of market research is data privacy and ethical research strategies. However, as already discussed, more and more consumers are aware of how their data is handled and its purposes. They will require more transparency and accountability from the organizations. European regulations such as GDPR and CCPA in the United States, for instance, have set two protection limits that companies have to comply with.
So, for the companies that conduct marketing research, this means paying attention to the ways and means that are used to gather information, documenting such information, and, more importantly, the use of such information. Companies are tightening data protection in as much as legal requirements concerning the privacy of customers are met, and customers remain loyal to them. Fair market research is not merely complying with laws and regulations; instead, it is aimed at upholding the rights of the individuals toward their data.
The increased attention to data privacy is also causing the emergence of new market research tools that are more transparent in nature concerning data collection. The aim of these tools is to enable businesses to notify their customers of the intended use of their data, granting them a certain level of say in their private information. Here, B2B market research companies become crucial as they assist businesses in complying with all privacy regulations, such as those affecting data collection and sharing, without limiting the scope of the data collected.
Market Research Industry Trend 5: Advanced Survey Techniques and Gamification
It can be seen that the methods in which companies carry out market research surveys are changing as businesses look for more appealing and interactive ways to attain data from their consumers.
In 2024, advanced survey techniques like gamification are gaining popularity for increasing the survey response rates as well as the quality of data collected during the survey. Gamified questionnaires are those that make a purpose out of conducting the survey by incorporating game attributes like contests, rewards, and interactivity from the respondents.
It is quite clear that the threats posed by gamification in surveys do not solely dwell on lousy competition. Rather, it provides strategies to help resolve such issues and promote the efficiency of survey completion. As a result, data collected, and most importantly, the behavioral attitude of respondents has been taken into account in this problem. This development is useful in sectors like retail, entertainment, and technology, which are very dynamic regarding consumer choice.
Apart from gamification, businesses are finding alternatives for gathering information from mobile-centric surveys, voice platforms, or feedback assisted by AI. Such new trends in research are beneficial to companies as they enable them to access a larger segment of potential respondents and gather information more effectively.
Read more: How to Conduct a Successful Market Research Survey?
Global Differences in Market Research Trends
If one thing is being sustained, it is the trends that are changing in the research market. Each region has its challenges and opportunities shaping the adoption of these trends.
Market Research Trends Across EMEA
In EMEA, i.e., Europe, the Middle East, and Africa, for example, to conduct market research surveys is number Three (3) because of the strict data privacy regulations, especially those like GDPR. In fact, European companies are now leaning more towards responsible management of data and, hence, transparency on how they collect and use consumer information. Moreover, research tools driven by AI are prevalent in Europe, but LEMAF is trying to catch up with the rest of the world, which is why developing technology is the focus in that region.
Trends in Market Research Towards APAC Region
There has been faster penetration of market research tools in the Asia-Pacific (APAC) region, particularly in countries like China, India, and Southeast Asia. As mobile-first approaches are becoming more common and there are also more people with disposable incomes, personalized research techniques are on the rise. Businesses are utilizing sophisticated analytics to understand different consumer segments. Moreover, in the region, real-time analytics are crucial because of the rapidly evolving business environment, which puts pressure on businesses to attend to consumer needs quickly.
Market Research Trends Toward American Countries
As for the Americas, the focus of the U.S. and countries of Latin America is on the development of research processes incorporating AI and automation technologies. The North American region remains at the forefront of the B2B market research, and based companies are utilizing generative AI tools in making operational decisions. At the same time, the Latin American markets have been increasingly conducting marketing research through the Internet in order to capture new consumer segments. The rising trends of sustainability and social responsibility, which include corporate social responsibility (CSR), have also impacted the practice of marketing research in the region.
Read more: Market Research Definition, Types, Tools, and Benefits
Summary: Market Research Industry Trends
The newfound values that firms would like to improve in their market research industry trends in 2024 are innovation and new products, a rapid, personal touch with clients, and ethical data collection practices. Considering the fact that the development of a firm has become important in the current corporate world, retaining the attention of businesses offering market research services and proving to possess market research tools tailored to the new evolution in the buying trends of consumers will be of utmost importance. In such evolution, the growth of AI, real-time data analysis, and advanced survey methods are touch points in the overall global state of the Industry. However, regional factors in EMEA, APAC, and North and South America emphasize the regional aspects of developing such strategies by taking into account cultural and legal specifics.
Businesses need to understand these trends to improve their business process in the relevant market. Looking for ways to remain successful in such a volatile environment is a matter of not just cooperating with reputed B2B market research companies but also focusing on trends.
Conclusion: Market Research Industry Trends
As 2024 unfolds, the market research industry will be influenced by technology, consumers, and geographical areas. It is important for such enterprises to stay up-to-date with these marketing research trends and devote resources and time to new and emerging market research tools and services. The institutions that embrace such trends as the incorporation of AI, the use of real-time analytics, and the ethical collection of data stand better chances of responding to customer needs. Eventually, business activities will help overcome the market research challenges through B2B market research companies, thereby accelerating the competitive pace.
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 Industry Trends
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What are the top market research trends in 2024?
The cutting-edge developments encompass AI-infused research, real-time analysis, accurate consumer psychology studies, ethical data consumption practices, and improvement in advanced survey forms.
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How does AI influence market research?
Artificial intelligence also adds value to information collected by aiding in further analysis and predictive modeling and automating the survey filling processes, all in order to gain fast and accurate insights.
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What are market research problems?
Noteworthy factors revolve around the privacy of the data, the trust of consumers, and the use of data in a fast-paced and dynamic environment in real-time.
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Why is protecting data privacy considered a challenge in market research practices?
Since data privacy is necessary to some extent to protect consumers and even comply with laws like the General Data Protection Regulation covering personal information, there is also a growing concern about upsetting the ethical norms of data collection.
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How should organizations perform and optimize market research surveys efficiently in the year 2024?
Organizations can incorporate some novel approaches or gamification as well as real-time analytics even when collecting data ethically to enhance the satisfaction and effectiveness of such surveys.
