The Market Research Society (MRS) has today published the new MRS League Tables as part of its Research Live Industry Report 2017. Based on 2015 financial data analysed in 2016, the League Tables reveal the best-performing research agencies and businesses based on UK turnover and international work managed and invoiced from the UK.
The report shows strong growth for research, with the top 100 individual agencies together generating nearly £3 billion in turnover during 2015, equating to 6.7% year-on-year growth. While 71% of individual agencies recorded growth, the top 10 accounted for 52.1% of total turnover and the top 20 were responsible for 69.2%.
In a new category for 2015, eight companies with a turnover exceeding £3 million which didn’t make it into the main league tables have been selected as ‘ones to watch’ – businesses which are growing rapidly and are firmly on the right track for future inclusion.
The report also finds that growth in the UK supply industry has been fuelled primarily by investment in data analytics, advisory services and market reports, which now make up c.45% of the market.
Spending £61 on research per capita, the UK’s research industry is larger per head than anywhere else in the world. British businesses spend more per person than the USA (£39), Germany (£24) and France (£23).
The new Research Live Industry Report 2017 also features highlights from the MRS Industry Survey 2016 – originally published in June 2016 and based on its annual survey of full-service company partners.
Jane Frost CBE, CEO of MRS, comments: “This report looks not just to celebrate success, but to show how it has been achieved. The headline growth of the industry is accompanied by plenty of positive smaller stories: the increased investment in qualitative research is just one example. Of course the future will have its challenges as the industry faces disruptive forces – but we are in better shape than ever to face these hurdles head on. Change represents an opportunity for us to grow and to thrive.”