'Double-Digit Growth' for Indian MR

Professional association the Market Research Society of India (MRSI) has released its annual industry sizing report, suggesting that revenue for the sector rose some 10.9% last year, to around $US 3.5bn. Growth is expected to remain around 10% for 2026, despite global economic headwinds and geopolitical uncertainties.

According to The Indian Research & Insights Industry 2025 Update, the industry has continued momentum and is 'in transition towards a more mature and diversified research and insight market, characterised by broader access to analytics services and evolving trends in manufacturing and consumer demand.' In Indian currency, revenue for the year was INR 29,008 crores, a crore being ten million.

The reports segments Indian MR into three core service lines: Analytics, the largest and fastest-growing segment, accounting for nearly 60% of the market and growing 14% in FY2025; Custom Market Research which grew 8%, with specialised services such as consumer experience research gaining traction through techniques like facial coding, eye tracking and emotional response monitoring; and Syndicated Research, rebounding with 6% growth due to interest from manufacturing-focused clients and increased outsourcing of research mandates to India-based captive centres.

Society President Nitin Kamat, who is Chief Growth and Partnerships Officer at TAM Media Research, states: 'The Indian research and insights industry is entering a phase of maturity, where growth is driven less by volume and more by value. In alignment with Hon. Prime Minister Narendra Modi's vision of Viksit Bharat 2047, which emphasises innovation, advanced capabilities and strategic value creation across sectors - the industry is gearing up to work alongside India Inc. to fuel progress. The shift from traditional data delivery to integrated, AI enabled insights helps businesses act with speed and precision. Looking ahead, we expect the industry to evolve towards deeper adoption of advanced analytics and agentic AI, enabling India to lead in delivering actionable strategic intelligence on the global stage.'

The full report is here .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.