The Growth of India's Research and Insights Industry: Reaching USD 3.2 Billion in FY2024

DELHI, India - Jan. 6, 2025 - PRLog -- The Indian research and insights industry has evolved significantly over the years, marking a substantial growth trajectory that underscores its importance to various sectors. Historically, the landscape of this industry was characterized by traditional research methodologies; however, the onset of technological advancements has redefined its scope and operations.

According to data from the Market Research Society of India (MRSI), the market research sector in India expanded 12.6% to reach a total of US$ 3.2 billion in the 2024 fiscal year.

Technological advancements have played a pivotal role in shaping the industry, introducing tools such as artificial intelligence and big data analytics. These innovations facilitate more nuanced understanding of consumer behavior and preferences, thereby enhancing the quality of insights produced. Moreover, the significance of consumer insights cannot be overstated, as businesses increasingly recognize the value of tailoring their offerings based on comprehensive market analysis.

Market Research Society of India (MRSI) is also predicted that the Indian market would grow to US$3.4 – 3.5 billion in FY2025, with customer and marketing analytics accounting for 58% of the total market.

Key players in the Indian market include established companies, startups, and consultancies that specialize in providing actionable insights. These entities cater to diverse segments, including market research, custom research, and data analytics, each contributing uniquely to the industry's overall growth. The rising emphasis on data-driven decision-making across corporations has intensified the need for advanced research solutions, which further propels the market forward.

More Details @ https://a4marketresearch.com/the-growth-of-indias-researc...