The German market research and insights sector has developed very positively lately. This is what our colleagues from the largest German industry portal marktforschung.de revealed in their 2021 revenue ranking of German market research agencies, published in February 2022.
Only six of the top 50 German agencies did not grow in 2021! All the others reported growth, even significant growth in some cases. The fact that, in this recent ranking, there are a number of new players or returnees also shows that 2021 was a good year for the industry.
Back in 2020, the first year of the pandemic, things looked different: growth was the exception, decline was the rule, and most agencies lost significant revenue. Budgets for market research were cut or eliminated in 2020, large face-to-face studies were postponed due to the Covid pandemic, and viewing facilities were closed for a long time. Digitization and expenditure control were considered more important than insights; priorities were clear.
The world is a different place now
As early as the end of 2020, there were signs of rising demand for research services. The pandemic – and the associated restrictions – had changed consumer behavior. So, there was a lot of uncertainty on the client side. Decision makers could no longer rely on gut feelings. What they needed was knowledge about their consumers and users – insights!
Meanwhile, German agencies have been able to take advantage of the crisis. The industry has seen a surge in digitization, especially in qualitative online research. Apart from that, what’s hot is surely technology in general. AI and automation are not only buzzwords.
What is also widely talked about is the issue of HR: the war for talent has arrived.
It’s a good thing to bring the industry together again, to give it a forum to meet and to promote exchange.
Find out more about the German market research landscape, how it has experienced growth over the past year and thus reversed a period of decline, and what is topical in Germany at the moment at the next succeet event.