Market research is migrating online wholesale, with total global spend set to grow from $1.3bn (&£700m) today to about $4bn (&£2.2bn) by 2010, according to new research.
Research by “change management consultancy” Cambiar, for software house Global Market Insite, suggests that two-thirds of major market research users already do some research online, and two-thirds of those companies not currently using online research intend to start doing so in the next three years.
Clients doing research online spent 28 per cent of their research budgets online in 2004. These companies forecast that this figure will rise to 33 per cent by 2006.
Research companies are investing heavily to meet demand from their clients, and more than three-quarters (78 per cent) of research companies already conduct online research.
The research was conducted among 50 research companies and 43 users of research worldwide.