Businesses outsource these research operations to reduce the additional efforts and capital required for manpower and the tools for data collection that includes the online websites, computer assisted interviews, etc. Moreover, industry players provide services that include data collection methodologies such as online, mobile, computer assisted personal interviews, computer assisted telephone interviews, and post/ mail, which help companies to gain useful insights on the targeted consumer or business segments. These companies utilize one or multiple methodologies to provide competitive edge to their clients and gain better top line growth, cost savings, revenue generation, and maximize the consumer retention. Due to these factors, businesses are offering services in BFSI, retail, ecommerce, telecommunication, consumer goods, and government agencies.
Field survey management market refers to the businesses generated through data collection for gaining insights on different market aspects such as brand management, concept testing, consumer needs, retention, satisfaction surveys, pricing surveys, and service quality. Requirement to gain proper insights on the consumer or business behavior in a specific geographic location to provide competitive edge to companies outsourcing these services is expected to be the prominent factor influencing the growth of the field survey management market.
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Data analytics & modelling, social media analysis, and predictive analytics to help clients in better decision making
Analysis of accumulated data and lack of conclusions regarding to research findings may add to the company expense without gaining any competitive intelligence. Thus, most of the vendors in the industry such as Ipsos, Market Equations, and Corp Scan Group provide predictive analytics, media & brand expressions, innovation strategies, strategies for consumer, and employee relationships. This adds to the value of the insights explored through data collection field survey management, which is expected to fuel the growth of market over the forecast period.
Requirement of government agencies to keep track of the nation’s produce, economic activities, population health, and revenue is expected to propel growth of the market. Ease of availing professional services from industry participants for detailed analysis of the required data and significant reduction of cost investment from outsourcing these services are expected to increase the demand for field survey management market over the forecast period.
According to Coherent Market Insights analysis, North America dominated the global field survey management market in 2017 and it is expected to continue its dominance over the forecast period, owing to widespread presence of multi-national companies headquartered in North America that source these insights for better competitive business intelligence for their operations and expansion in other regions.
Some of the key vendors in the field survey management market include Nielsen Holdings PLC, Kantar TNS, GfK, IRI Consultants, comScore, Inc., IT, Research & Metadata Solutions (IRMS), The Brenett Group, Focu Pointe Global, and Ipsos. According to Coherent Market Insights analysis, information regarding the potential growth opportunities in the emerging economies of Mexico, China, India, Brazil, and Russia in conjunction with the advanced economies of North America and Europe is highly valued. Moreover, companies having resources established in these economies have withheld leading positions in global industry space.
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