Firms specializing in fast-growing industries, such as auto, pharmaceuticals, and consumer electronics, will have advantages in the market place.
San Francisco, CA (PRWEB) September 09, 2012
Due to China's strong economic growth and large business market, there is ample scope for market research firms. In the past five years, the Market Research industry in China experienced rapid development, characterized by the emergence of specialized local research enterprises, the rapid expansion of foreign capital and the extensive implementation of technology applications. Revenue for the Market Research industry in China is estimated at $3.0 billion in 2012, reflecting annualized growth of 14.1% over the five years through 2012. Industry profit is also high; however, it has fallen over the past 10 years as labor costs and competition have increased.
The Market Research industry is in the growth stage of its life cycle, with continuously increasing market size and a large number of small enterprises entering the industry each year. The well-established large enterprises in this industry are foreign and domestic consulting firms with extensive research abilities. There about 50 such enterprises in China, including Shanghai ACNielsen Marketing Research, Research International China, IPSOS China, and Synovate, and they are driving the development of this industry.
Most of the largest market research companies in the world, such as IPSOS, ACNielsen, and TNS entered China years ago, following their multinational corporate customers. Many top local Chinese enterprises are partnering with large international firms to bring in more advanced technologies and research ideas, better use their domestic resources and improve their positions in the domestic market.
China's rapidly developing economy and structural reform of domestic companies will create greater market research demand over the next few years, IBISWorld anticipates. The degree of specialization within the industry will increase with customers from the automobile, pharmaceutical, IT, telecommunication, consumer electronic product, financial and government sectors accounting for the largest market shares. Some middle-sized cities such as Chengdu, Xi'an and Shenyang will become regional centers and gain some market share.
For more information, visit IBISWorld’s Market Research in China industry report page.
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189
IBISWorld industry Report Key Topics
With international and domestic knowledge, local experience and networks, market research firms in China help clients acquire valuable market information, undertake comprehensive market analysis, develop appropriate entry strategies, establish distribution channels and expand operations. Services supplied by firms are important for corporations' decisions when choosing target markets, forecasting developments, and making various operational decisions.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.