Current situation of 1. market research industry

Market research industry is a service industry, its main function is to provide customers with market information, data analysis, consulting services, etc., to help customers understand market demand, competitive situation, consumer behavior, social trends, etc., so as to formulate effective market strategies and decisions. The customers of the market research industry mainly include enterprises, governments, social organizations, etc., involving various industries and fields.

The history of the market research industry can be traced back20At the beginning of the century, it was mainly for the advertising and media industries. With the development of economy and the complexity of the market, the market research industry has gradually expanded the scope and content of services, covering product research and development, brand management, marketing, public relations, social research and other aspects. The development of the market research industry has also been influenced and promoted by science and technology, especially the application of information technology and Internet technology, which has revolutionized the collection, processing, analysis and presentation of data in the market research industry and improved the efficiency and quality of market research.

According to the Global Association of Market Researchers (ESOMAR) statistics,2019Revenue from the global market research industry in466Billion US dollars, year-on-year growth6.4%. Among them, North America has the highest proportion, which is39.4%followed by the European region,34.2%The Asia-Pacific region accounts18.8%. The revenue of the market research industry in China is38.8US $100 million, ranking third in the world, second only to the United States and the United Kingdom, with year-on-year growth.10.1%. The growth of China's market research industry is mainly due to the steady growth of the domestic economy, consumption upgrading, digital transformation and other factors, as well as the improvement of the innovation ability and service level of market research companies.

Participants in the market research industry are mainly divided into two categories: one is international market research groups, such as Nielsen, Condé Nast, Ipsos, Rolle, etc., these groups have extensive networks and resources around the world, provide a full range of market research services, with strong brand influence and market share; the other is local market research companies, such as zero point number, CCTV market research, Allison, Huichen shares, etc., these companies mainly rely on the domestic market, provide targeted market research services, with strong localization advantages and flexibility. In addition, there are some cross-border market research participants, such as consulting companies, data companies, Internet companies, etc., these participants use their professional capabilities and data resources to provide some specific market research services, increasing the market research industry Diversity and competitiveness.

2. market research industry trends

The development trend of the market research industry is mainly affected by the following aspects:

（1) changes in customer needs. As the customer's market environment and competitive pressures change, the customer's demand for market research is constantly changing. Customers not only need to obtain more, more accurate and timely market information and data, but also need to obtain more in-depth, more valuable and more insightful market analysis and consultation. Customers also pay more attention to the effectiveness and returns of market research, and require market research companies to provide more operable and enforceable market strategies and recommendations. The needs of customers are also more diversified and personalized, requiring market research companies to provide customized services that are more in line with customer-specific goals and scenarios.

（2) technological innovation. Technological innovation is an important driving force for the market research industry and an important challenge for the market research industry. Technological innovation is mainly reflected in the following aspects:

The source and form of the data. With the development of Internet, Internet of things, artificial intelligence and other technologies, more and more data can be obtained by market research, including structured data and unstructured data, such as text, image, video, sound, etc. These data can reflect more dimensions and levels of the market and consumers, and also put forward higher requirements for data processing and analysis.

The second is the collection and transmission of data. With the development of mobile Internet, cloud computing, big data and other technologies, market research can use more tools and platforms for data collection and transmission, such as mobile phones, tablets, smart devices, social media, online surveys, remote interviews, etc. These tools and platforms can improve the efficiency and coverage of market research, as well as reduce the cost and risk of market research. The third is the analysis and presentation of data. With the development of artificial intelligence, machine learning, data mining, data visualization and other technologies, market research can use more methods and technologies for data analysis and presentation, such as natural language processing, image recognition, sentiment analysis, predictive models, dashboards, storytelling, etc. These methods and techniques can improve the quality and value of market research, as well as the attractiveness and impact of market research.

（3) increased competition. With the development and changes of the market research industry, the competition in the market research industry is also increasing. Competition in the market research industry is mainly reflected in the following aspects:

One is the competition between market research companies. Competition between market research companies exists not only in the same geographical area and field, but also across geographical and cross-field. The competition between market research companies is mainly reflected in the quality of service, service price, service innovation, service speed and so on. Competition among market research companies also promotes the progress and development of the market research industry.

The second is the competition between market research companies and other market participants. In addition to competition from their peers, market research companies also face competition from other market participants, such as consulting firms, data companies, Internet companies, etc., which use their professional capabilities and data resources to provide some specific market research services, increasing the diversity and competitiveness of the market research industry. Third, the competition between market research companies and customers. In addition to external competition, market research companies have to face internal competition, that is, customer autonomy and self-improvement. With the enhancement of customers' market awareness and data awareness, as well as the improvement of customers' own data collection and analysis ability, customers rely less on market research companies, and customers pay more attention to the added value and differentiation of market research companies.

Opportunities in the 3. Market Research Industry

The opportunities in the market research industry mainly come from the following aspects:

（1) Expansion of the market. With the development of economy and the process of globalization, the scale and scope of the market are expanding, the complexity and diversity of the market are increasing, and the changes and uncertainties of the market are increasing, which provide a broad market space and demand for the market research industry. The market research industry can use its own professional knowledge and technical capabilities to provide customers with more market information and data, help customers grasp market opportunities and risks, and enhance their market competitiveness and efficiency.

（2) upgrade of the customer. With the improvement of customers' consumption level and taste, customers' demand and expectation for products and services are also constantly improving, and customers' demand for market research is also constantly upgrading. Customers not only need to obtain more market information and data, but also need to obtain more in-depth market analysis and consulting, customers are more concerned about the innovation and value of market research, customers are more willing to pay a higher price for high-quality market research services. The market research industry can use its own innovation ability and service level to provide customers with a higher level of market research services, meet the high-end needs of customers, and improve customer satisfaction and loyalty.

（3) the development of technology. The development of technology is an important support and driving force for the market research industry, and it is also an important opportunity for the market research industry. The development of technology is mainly reflected in the following aspects:

One is the richness and diversity of data. The development of technology enables market research to obtain more data, as well as more kinds of data, such as text, images, videos, sounds, etc., which can reflect more dimensions and levels of the market and consumers, and can also improve the quality and value of market research. The market research industry can use this data to provide customers with more comprehensive and profound market insights and recommendations.

The second is the intelligence and automation of data. With the development of technology, market research can use artificial intelligence, machine learning, data mining and other technologies to realize the intelligence and automation of data, such as natural language processing, image recognition, emotion analysis, prediction model, etc. These technologies can improve the efficiency and quality of market research, and also improve the innovation and value of market research. The market research industry can use these technologies to provide customers with faster and more accurate market answers and solutions.

The third is the visualization and storytelling of data. The development of technology enables market research to use data visualization, data storytelling and other technologies to realize data visualization and storytelling, such as dashboards, charts, animations, videos, etc. These technologies can improve the attractiveness and influence of market research, as well as the dissemination and sharing of market research. The market research industry can take advantage of these technologies to provide customers with a more dynamic and persuasive market presentation and communication.

Challenges in the 4. Market Research Industry

The challenges of the market research industry mainly come from the following aspects:

（1) The variability of customer needs. As the customer's market environment and competitive pressures change, the customer's demand for market research is constantly changing. The needs of customers are not only diversified and personalized, but also rapid and urgent. The requirements of customers for the quality and speed of market research are also constantly improving, and customers' attention to the effect and return of market research is also increasing. In order to cope with the changing needs of customers, the market research industry needs to constantly update its knowledge and skills, constantly improve its service quality and speed, and constantly create its own service value and effect.

（2) Changes in technology. Technological change is an important opportunity for the market research industry, but also an important challenge for the market research industry. Technological changes are mainly reflected in the following aspects:

One is data security and compliance. Technological changes allow market research to obtain more data, as well as more sensitive data, such as personal information, privacy information, trade secrets, etc. The security and compliance of these data has become an important issue in the market research industry. In order to ensure the security and compliance of data, the market research industry needs to abide by relevant laws, regulations and ethics, establish a sound data protection and management system, and take effective data encryption and backup measures.

The second is the quality and validity of the data. Technological changes have made it possible for market research to obtain more data, as well as more types of data, such as text, images, videos, sounds, etc. The quality and effectiveness of these data has become an important issue in the market research industry. In order to ensure the quality and validity of the data, the market research industry needs to strictly screen and verify the source and form of the data, strictly test and evaluate the accuracy and reliability of the data, and strictly analyze and judge the relevance and representativeness of the data.

The third is the analysis and application of data. Technological changes have made it possible for market research to utilize more methods and techniques for data analysis and application, such as artificial intelligence, machine learning, data mining, data visualization, etc. The analysis and application of these methods and techniques has become an important issue in the market research industry. To effectively analyze and apply data, the market research industry needs to master and apply the principles and laws of these methods and techniques, integrate and understand customer goals and scenarios, and generate and provide valuable and meaningful market insights and recommendations.

（3) fierce competition. With the development and changes of the market research industry, the competition in the market research industry is also fierce. Competition in the market research industry is mainly reflected in the following aspects:

One is the competition between market research companies. Competition between market research firms exists not only in the same geographical area and field, but also across geographical and cross-domain and cross-domain. The competition between market research companies is mainly reflected in the quality of service, service price, service innovation, service speed and so on. The competition between market research companies also promotes the progress and development of the market research industry, and also gives birth to the cooperation and integration of the market research industry. In order to cope with the competition among market research companies, the market research industry needs to continuously improve its core competitiveness, constantly seek its own differentiation and characteristics, and constantly explore the possibility and mode of its own cooperation and integration.

The second is the competition between market research companies and other market participants. In addition to competition from their peers, market research companies also face competition from other market participants, such as consulting firms, data companies, Internet companies, etc., which use their professional capabilities and data resources to provide some specific market research services, increasing the diversity and competitiveness of the market research industry. In order to cope with the competition between market research companies and other market participants, the market research industry needs to continuously expand its service scope and content, continuously enhance its service depth and breadth, and continuously establish its own service advantages and status.

Third, the competition between market research companies and customers. In addition to external competition, market research companies have to face internal competition, that is, customer autonomy and self-improvement. With the enhancement of customers' market awareness and data awareness, as well as the improvement of customers' own data collection and analysis ability, customers rely less on market research companies, and customers pay more attention to the added value and differentiation of market research companies. In order to cope with the competition between market research companies and customers, the market research industry needs to continuously increase its own service value and effect, continuously provide its own service innovation and value, and continuously improve its own service operability and enforceability.

5. Conclusion

Market research industry is a service industry, its main function is to provide customers with market information, data analysis, consulting services, etc., to help customers understand market demand, competitive situation, consumer behavior, social trends, etc., so as to formulate effective market strategies and decisions. The development of the market research industry has been affected by economic and social development and changes, technological innovation and change, changes and upgrades in customer needs, and intensified and fierce competition. The market research industry is also facing new opportunities and challenges. In order to grasp the opportunities and meet the challenges, the market research industry needs to constantly update its knowledge and skills, constantly improve its service quality and speed, constantly create its own service value and effect, constantly improve its core competitiveness and market position, and provide customers with better, more professional, more efficient and more valuable market research services.