Commenting on The Global Market Research Report, released yearly by ESOMAR, the Center for Medea Research revealed that the use of online studies has grown by 80%.
The report, which will be made available in September of 2006, says that the Market Research industry is very healthy and long-term will grow at a 4-6% annual rate. Europe is still on the top of the field with 45% of the market share globally.
Concerning the online market, it is now 20% of overall expenditure in collecting data. This has almost doubled from 2004 to 2005, which was at 11% at that time.
Véronique Jeannin, ESOMAR Director General, says "We expect the Industry's healthy growth rate to continue in the near-term… the industry faces challenges of downward pressure on prices (however) as companies pass on savings to clients from conducting online research, which are likely to be offset by demand for results from more sophisticated online research tools."
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