Statistical shifts: The effects of COVID-19 have reduced industry demand and revenue
The industry has performed poorly because of mixed demand across years for market research and related services. Industry revenue has shrunk at an annualised 0.6% over the past five years and is expected to total $3.4 billion in 2023-24, when revenue will jump by 2.3%. The overall revenue decrease can be attributed to mixed growth in prior years because of uncertainty and demand changes in response to the COVID-19 pandemic and ABS funding volatility. Industry revenue displays high volatility from year to year, mainly because of fluctuations in ABS funding by the Federal Government.
Market research and statistical consulting companies conduct public opinion polls, and carry out qualitative and quantitative research on behalf of clients. Industry firms gather, tabulate and present marketing and opinion information and data. The information gathered is usually for the purposes of understanding the opinions, needs and wants of particular demographics or target consumer groups. The industry includes private firms and government bodies.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Australian Bureau of Statistics
Methodology
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