Market research sector grows by 62%
The UK professional research and evidence market has enjoyed a 62 per cent surge in growth since 2012, according to an independent review by PwC.
The industry now employs almost 73,000 people across the UK and is worth £4.8 billion, a £2 billion increase since the last sector review in 2012.
Export revenues total over £1.7 billion, with data analytics and technology-driven research proving the main drivers for revenue.
The 62 per cent increase is even more impressive when compared with the UK economy’s total growth of 8.7 per cent over the same period, with the research sector contributing just over 0.3 per cent of total UK GDP.
Jane Frost CBE, CEO of MRS, who commissioned the study, commented: “The incredible growth we have seen since 2012 is testament to the value that organisations place on the importance of evidence-based decisions.
“It reflects the increasing confidence and importance of research and its practitioners to decisions being made at every level across both the public and private sectors.”