LONDON--(BUSINESS WIRE)--Global market intelligence solutions firm Infiniti Research has identified the trends in the market research industry that are likely to offer insights into the market space for 2020.
The way businesses function in today’s world, AI and VR may sound like a thing of sci-fi movies. But it is actually beneficial in real-world applications and is quickly taking over businesses around the world. Features like these are transforming the field of market research. As per a recent survey, the market research industry is anticipated to grow exponentially, totaling over a $100 billion by 2020. Revolutions in the market research industry are happening at an increasing rate today, making it important to embrace it before machines take over this process completely.
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The market research industry is considered to be one of the few industries that have grown gradually over the past few years. But the current innovations have the potential to radically expand the revenue in the future. Also, 2020 is predicted to be a crucial year for players in the market research industry, given the present level of macro, monetary, and economic ambiguity worldwide. Organizations will observe a great shift in the way their businesses function. Market leaders will involve primary and secondary research organizations to accurately understand and study the main drivers of their developing supply network, macro dynamics, and the competitive landscape.
According to the market research industry experts at Infiniti Research, “One thing that we can expect to happen in the field of market research in 2020 is the acceleration of technological trends that will impact market research methodologies.”
Continue reading to know more about the trends in market research industry that are most surprising or get in touch with our analysts for a free consultation.
Trends in the market research industry:
- The rise of mobile research: At present, everyone is doing everything on their mobile phones. They are able to shop, check social media, and send e-mails, all from the palm of their hands. As we continue to depend on our smartphones, it’s important that market research is accessible on these devices as well. Many market researchers are starting to use the information generated through mobile and are applying insights resulting from it to shape their marketing decisions. In such a situation, hyper-targeted messages and mobile generated data are key to success, allowing higher customer retention rates. Also, market forecasts recommend that information produced growth will multiply over the next few decades, leading to an increase in the data explosion.
- Social media listening: Major organizations are relocating their social media teams into tech-driven, high-profile spaces signaling the strategic reputation of social media platforms for business organizations.
- Data automation technology: Due to the rapid increase in market data, leading industry players need to collect adequate information to support their market decisions. Ever so frequently, the gathered market data is obscure and unattainable, but with data automation technology in place, organizations can now collect, analyze, and store data resourcefully.
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Infiniti Research is a global market intelligence company offering strategic insights to help look beyond market disruptions, study competitive activity, and develop intelligent business strategies. Listed below are the trends in the market research industry.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us