The turnover of the market research and public opinion polling industry in the UK has shown fluctuating yet modest growth over the years. From 2013, when the turnover stood at 4.77 billion Euros, it increased at varying rates, peaking at 5.69 billion Euros in 2014. After slight declines and periods of stability, the turnover gradually rose to 5.68 billion Euros by 2023. The latest year-on-year variation from 2022 to 2023 is 0.97%, and the Compound Annual Growth Rate (CAGR) over the last five years stands at 1.11%. Forecasts predict continuous, albeit slow, growth reaching 5.94 billion Euros by 2028, with a CAGR of 0.7% over the next five years.
Future trends to watch for in this sector include:
- Increased reliance on technological advancements and data analytics.
- Growing importance of real-time data collection and analysis.
- Rising demand for customized and actionable insights.
- Expansion in emerging markets as companies seek to understand new customer bases.
- Enhanced focus on ethical considerations and data privacy laws.
