Top 10 Market Research Agencies for Strategic Insights in 2024

1. Nielsen

Nielsen is a global leader in audience intelligence by measuring consumer behavior across platforms. Over 750,000 people worldwide join its panels and surveys, providing the company with representative data that media firms worldwide have come to rely on for over 50 years.

Nielsen’s core services include audience measurement, which covers habits on audio, streaming platforms, and TV; media planning, which analyzes audience segments across platforms and competitors’ campaigns, as well as testing advertising scenarios; marketing optimization through the discovery of ad and marketing impact on audiences; and content metadata or datasets that you can use in offering recommended content to your consumers.

Headquarters: New York, New York

Founding year: 1923

Clients: NBC Universal/Comcast Corp, Twenty-First Century Fox, Procter & Gamble, Unilever Group, Nestle S.A., Coca-Cola

Pros:

• Global Reach: Nielsen offers extensive global coverage, making it ideal for businesses looking to understand diverse markets.
• Comprehensive Data: Known for its robust audience measurement and consumer behavior data, particularly in media and advertising.
• Long-Standing Reputation: Established in 1923, Nielsen has a strong track record and credibility in the industry.

Cons:

• High Costs: Nielsen’s services can be expensive, making it less accessible for small to mid-sized businesses.
• Complex Systems: The breadth of data and tools can be overwhelming, requiring significant expertise to navigate effectively.

2. Gartner

Gartner delivers IT-related insights that can help you select technologies and develop strategies to improve your business performance and increase your value and that of your stakeholders. The agency combines expert guidance and tools for smarter business decisions and effective strategy planning. Some of their tools include the Gartner Score Benchmark and Gartner Digital IQ Index, which track the impact of your online initiatives on your industry. Another tool is the Gartner Magic Quadrant, which evaluates how marketing service providers and technology providers can execute your needs. Gartner also has Hype Cycles, which allow you to understand which existing and emerging technologies are overhyped or expect accelerated adoption, so you can determine which ones to invest in and avoid.

Headquarters: Stamford, Connecticut

Founding year: 1979

Clients: Microsoft, IBM, Deloitte, NASCO, WDCi Group, Standard Insurance Company

Pros:

• Technology-Focused Insights: Gartner excels in providing research and analysis related to IT and technology markets, crucial for tech-driven companies.
• Proprietary Tools: Offers unique tools like the Gartner Magic Quadrant and Hype Cycles, which help in technology and vendor evaluation.
• Expert Advisory Services: Provides strategic advice, backed by in-depth research, for making informed business decisions.

Cons:

• Niche Focus: Primarily serves IT and technology sectors, which may limit its usefulness for businesses outside these industries.
• High Pricing: Gartner’s services are premium-priced, potentially excluding smaller businesses from accessing their insights.

3. Ipsos

Ipsos upholds its slogan, “You act better when you are sure” through products that fall into various categories. There’s market strategy and understanding, which includes insights into consumer behavior and its impact on the entire industry, including your competitors (market structure), your omnichannel touchpoints (shopper journey), and your consumers’ emotional and mental triggers (brand positioning). There’s innovation, which covers product testing and packaging research), and brand health tracking. Creative excellence assesses the “Creative Effect Index” of your communication strategy and campaigns. Channel performance includes sizing channel opportunities and mystery shopping. Meanwhile, qualitative research covers interviews, discussion boards, and online communities.

Headquarters: Paris, France (with offices in New York and Washington D.C.)

Founding year: 1975

Clients: Citizens Bank, Merck Corp., Advil, Tropicana, Jif, Kingsford Charcoal

Pros:

• Diverse Offerings: Ipsos provides a wide range of market research services, including brand positioning, shopper journey, and creative testing.
• Global Presence: Strong international footprint with expertise in both developed and emerging markets.
• Innovation Focus: Known for its work in behavioral science and innovation testing, making it a leader in consumer insights.

Cons:

• Variable Quality: Service quality can vary depending on the region or specific office, leading to inconsistent results.
• Complex Reporting: Some clients find Ipsos’ reports to be overly detailed and challenging to distill into actionable insights.

4. IQVIA

IQVIA is a clinical research, advanced analytics, and technology solutions provider serving the life sciences industry, which comprises the pharmaceutical, medical device, biotech, and medical research fields. IQVIA Connected Intelligence has helped clinical trial leaders to speed up the development and commercialization of health treatments. The AI-powered tool uses real-time patient data to speed site selection, streamline enrollment, boost patient participation, and reduce risks to patient safety. IQVIA’s methods have resulted in decentralized trials—which mix virtual and hybrid models—and faster establishment of proof of concept.

The healthcare sector can also tap IQVIA Primary Intelligence, which uses a “secondary first” approach (proprietary data plus primary research through interviews and focus groups) to gather insights about patients and the market. Also, the agency uses the FINDr database of validated physicians and workplaces to identify and survey the specialists that suit your project.

Meanwhile, its Therapeutic Centers of Excellence give you access to global data from millions of patients to aid your research, trial outcomes, and commercialization of medication.

Headquarters: Durham, North Carolina

Founding year: 2016 (merger of contract research company Quintiles and IMS Health)

Clients: AstraZeneca, Johnson & Johnson, Sanofi, Bristol-Myers Squibb Company, EyeCare Partners, Syngenta

Pros:

• Healthcare Expertise: IQVIA specializes in life sciences and healthcare, offering unparalleled insights in these sectors.
• Advanced Analytics: Leverages AI and big data to provide deep, real-time insights, particularly in clinical and patient data.
• Innovative Solutions: Known for its cutting-edge solutions like decentralized trials and AI-powered patient data analysis.

Cons:

• Industry-Specific: Primarily focused on healthcare, which may limit its applicability for businesses in other industries.
• High Complexity: Services are highly specialized, which may require expert knowledge to fully utilize.

5. GfK

GfK promises “Growth from Knowledge” through always-on intelligence that offers a deep understanding of your market, picking up the right “signals from the noise” for actionable recommendations. The agency has solutions for evaluating: brand and marketing performance (brand intelligence using GfK Brand Architect, segmentation and targeting, campaign tracking, and ad testing), consumer and shopper intelligence (trends, attitudes, segmentation, customer journey), sales and market growth (market dynamics, competitive analysis, supply and distribution, pricing and promotion), and media measurement (digital, published media, video, audio, and total audience measurement).

Headquarters: Nuremberg, Germany

Founding year: 1934

Clients: Unilever, Philips, IKEA, Lenovo, Vodafone, American Income Life, Elon, Char-Broil

Pros:

• Always-On Intelligence: GfK provides continuous market insights, helping businesses stay ahead of trends and consumer behavior changes.
• Strong Methodology: Offers robust research methodologies and comprehensive analysis across multiple sectors.
• Data-Driven Decisions: Focuses on actionable insights, aiding in strategic decision-making and market planning.

Cons:

• Limited Customization: Some clients feel that GfK’s services can be too standardized, lacking in tailored solutions.
• High Cost: Like other top-tier agencies, GfK’s services are costly, which may not be feasible for all businesses.

6. Circana

Circana’s products tap into IRI’s Liquid Data platform—which tracks millions of products from over 2,000 categories across over 500,000 stores in 26 industries. The agency’s market performance and strategy solutions include customized eCommerce insights, omnichannel measurement, in-store program audit, strategy to uncover new growth pockets and M&A opportunities, and innovative ideas based on sales data and consumer interest and satisfaction.

Meanwhile, its consumer and shopping solutions cover “in-the-moment” shopping behaviors, concept testing, segmentation, and activation. You can personalize your customers’ experiences better using Circana’s retail solutions, which identify the best product placement on shelves through historical data and predictive analytics. Circana Audiences offer multi-channel retailer data to help you with targeted ads. Furthermore, the company’s analytics and in-market execution tools can guide you with product pricing and supply chain management.

Headquarters: Chicago, Illinois

Founding year: 2022 (merger of Information Resources Inc. or IRI established in 1979, and The NPD Group founded in 1966)

Clients: Starbucks, Ferrero, Agiliti, Saputo Inc. (IRI) Walmart, McDonald’s, Toshiba, Macy’s, Bloomingdale’s (NPD)

Pros:

• eCommerce and Retail Focus: Circana specializes in retail and eCommerce analytics, providing detailed insights into consumer behavior.
• Data Integration: Utilizes a massive data platform (Liquid Data) that tracks millions of products across thousands of stores, offering comprehensive market performance insights.
• Innovative Tools: Offers tools for in-the-moment shopping behavior analysis and predictive analytics for product placement and pricing.

Cons:

• Niche Focus: Primarily serves retail and consumer goods sectors, limiting its relevance for other industries.
• Learning Curve: The tools and data platforms can be complex and require time to learn and integrate effectively.

7. Dynata

Dynata’s founders pioneered using surveys—via phone polls and online panels—to study consumer attitudes. It boasts itself as host to the largest first-party data and insights platform that promotes diversity among respondents and inclusivity among researchers. Its data set comprises 70 million consumers and business professionals.
Moreover, its AI-powered Sharpr knowledge management tool—integrated into the patented Dynata Insights Platform—allows you to gather, search, and publish content from different sources and share real-time insights with your internal and external audiences. You can access help for mobile-ready survey design and development from the agency’s 3,000 experts in 44 offices worldwide. Also, Dynata works with Neutronian to verify data privacy and quality—a necessary facet in audience targeting for improved campaign results.

Headquarters: Plano, Texas

Founding year: 2019 (merger between Survey Sampling International founded in 1977, and Research Now—established as E-Rewards—in 1999)

Clients: Spotify, AXA, Havas, Pepsico, Amazon, WSJ, Virgin Media, Bain & Company

Pros:

• First-Party Data: Hosts the largest first-party data and insights platform, ensuring high-quality, reliable consumer data.
• Diverse Respondents: Focuses on diversity in its data collection, offering a broad perspective across different demographics.
• AI Integration: Uses AI-powered tools for knowledge management and real-time insights, enhancing research capabilities.

Cons:

• Survey Reliance: Heavy reliance on surveys, which can sometimes lead to biases or outdated data if not managed properly.
• Cost Concerns: Premium services can be expensive, particularly for customized research projects.

8. Kantar

Kantar’s teams are connected to a brand-building platform that spans 12 years of continuous data representing 4 million consumers across 18,000 brands in 90 markets around the globe. It prides itself in ISO-certified and ARF-awarded data practices, including data validation by the Marketing Accountability Standards Board (MASB). Moreover, Kantar uses AI-driven analytical apps to integrate media, survey, social, and behavioral data.

The agency sources information through qualitative research using its NeedScope psychological framework, Spotlight qualitative analysis, ThinkTank online community, and text interviews through conversational AI; behavioral science through its behavior change toolkit; and virtual reality and eye tracking using the Shopper eValuate VR environment and Eye Square for eCommerce testing.

Headquarters: London

Founding year: 1992

Clients: Colgate-Palmolive, TBWA Worldwide, Air France, JCDecaux, Randstad Malaysia

Pros:

• Comprehensive Data Coverage: Kantar offers vast data across multiple sectors and regions, supported by robust analytical tools.
• Innovation in Research: Leverages AI, behavioral science, and VR for cutting-edge research methods.
• Strong Brand Reputation: Highly regarded for its methodological rigor and award-winning data practices.

Cons:

• Costly Services: Kantar’s high-quality services come with a significant price tag, potentially limiting access for smaller businesses.
• Complex Tools: Advanced tools and methodologies may require specialized knowledge or training to use effectively.

9. Westat

Westat, built by three University of Wyoming statisticians as Western Statistics in the 1960s, specialized in survey services early on. Its first clients were government agencies, which make up the majority of its clientele until now. Its market diversified from the 1990s to include biomedical science, computer systems technology, transportation, education, communications, social marketing, and others.

Westat uses collection strategies—questionnaire design, web surveys, field operations, focus groups, and cognitive testing—to match the client’s needs and optimize survey responses. Also, research, multimedia materials development, event planning, strategic communication planning, and health behavior theory experts make up its campaign development and management team.

Headquarters: Rockville, Maryland

Founding year: 1963

Clients: U.S. Department of Health and Human Services, Internal Revenue Service, NYC Mayor’s Office for Economic Opportunity, DC Public Schools, SiriusXM, The Johns Hopkins University, Toyota

Pros:

• Government Expertise: Known for its work with government agencies, providing reliable data in areas like health, education, and social research.
• Custom Research Solutions: Offers tailored research services, particularly in survey design and data collection.
• Reputation for Quality: Long-standing reputation for producing high-quality, credible research.

Cons:

• Limited Commercial Focus: Primarily serves government and non-profit sectors, which may not align with the needs of commercial businesses.
• Traditional Methods: Some methods and tools may seem outdated compared to more innovative agencies.

10. Forrester

Forrester is a research and advisory firm that believes in aligning revenue-generating and technology functions around customer value to grow businesses twice as fast as non-customer obsessed-firms. Forrester Decisions is a suite of research customized to meet your priorities based on your most pressing challenges and opportunities. The service includes proven strategic models and templates—KPIs, assessments, and peer benchmarks—for vision implementation. Moreover, you get expert guidance from strategy and planning to execution so you can hasten progress and apply best practices to reduce risky decisions.

For a holistic view of your business, add Forrester Market Insights to Forrester Decisions to discover how your buyers see you and how your competitors are faring.

Headquarters: Cambridge, Massachusetts

Founding year: 1983

Clients: NASA, Qualtrics, Fujitsu, HCL Technologies, Lexmark, Onyx CenterSource, ArcBest

Pros:

• Strategic Advisory: Forrester provides strong advisory services, helping businesses align technology with revenue generation and customer value.
• Holistic Insights: Combines market research with strategic frameworks and models, offering a comprehensive view of market dynamics.
• Custom Research: Tailors research to specific business challenges, providing relevant and actionable insights.

Cons:

• High-End Pricing: Forrester’s premium services can be cost-prohibitive for smaller organizations.
• Focus on Tech: Heavy focus on technology and digital transformation, which may not suit all industries.