[Posted by Reineke Reitsma]
- Global market research revenue grows to US $32 billion in 2008, representing a growth rate of 4.5% and 0.4% after adjustment for inflation
- Performance in North America is poor, with absolute growth of 1.5% and a decline of 2.1% after inflation
- Growth in Europe slows to 4.7% year-to-year and just 0.9% after inflation is factored in
- Asia Pacific region shows a softening in growth rates, to 6.3% year-to-year, and just 2.1% after inflation
- Latin America is the only region in which research actually grew at a higher rate than in 2007
The good news is that the industry still manages to show global growth in very challenging times. The bad news: most of us work in or with the US, which is responsible for nearly one third of all global marketing research revenue and is most impacted by the downturn.