Market Strategies International is the 20th largest market research firm in the US, according to “The 2013 Honomichl Top 50 Report,” published annually in Marketing News. The US research market grew 1.7% last year to $9.5B. After adjusting for inflation; however, the industry was down slightly from 2011, at -0.4%. According to Jack Honomichl, two of the largest contributing factors were a decline in the amount of government spend on private sector research firms and a shift from offline to online methods.
In addition, Honomichl noted that MR firms who specialize in long-term syndicated research grew by 4.1%, whereas firms that specialize in custom, ad hoc projects saw revenues decrease by 0.7%.
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