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UK Market Research Industry Worth Over 3bn PDF Print E-mail
Written by Market Research Society   
14 Jan 2013
The UK professional research and evidence market generates up to £3bn a year of Gross Value Added (GVA), makes a significant contribution to UK plc, and employs close to 60,000 highly-qualified people, according to an independent review by advisors PwC.

The report, entitled, The Business of Evidence, was commissioned by the UK Market Research Society and concluded that the market is 50% larger than previously estimated and is now bigger than both the UK's music and newspaper industries.
It concludes that traditional definitions of 'market research' no longer hold true, with many more organisations and businesses undertaking research activities than had been realised.

PwC's research reveals that the UK research sector contributes just over 0.2% of total UK GDP with annual revenues, comparable in size to the UK newspaper publishing and core film industries and significantly more than the UK music industry.

The review, commissioned by the Market Research Society (MRS) and undertaken by business consultancy and MRS Company Partner PwC, demonstrates the size and value of the UK's professional research and evaluation market for the first time.

In this new information age, the vast amounts of data becoming available are being analysed and used as evidence for decisions made by the private, public and third sectors, so a comprehensive understanding of the size of that wider and fast-growing 'evidence market' has long been needed. Other findings from the report include:

• UK research is a significant exporter of innovations and services and 33% of UK-based research agencies' annual turnover is generated internationally
• There are currently nearly 40,000 full-time equivalent (FTE) jobs in the research supply-side
• Over 19,000 additional FTE jobs are in other sectors, such as in-house researchers in specialist data analytics companies, or in central government  
• Around 60% of employees are in London and the South East, making the sector worth £1.8 billion per annum to the greater London economy.

The full report can be found on the MRS website here: Value Of The UK Market Research Industry  

Last Updated ( 03 Sep 2013 )
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