Market research is the backbone of business decision-making, helping companies understand consumer behavior, market trends, and competition. The market research sector in India is expanding quickly; it was estimated to be worth $3.2 billion in 2024 and is predicted to reach $3.4 billion by 2025. The need for top-notch market research companies is greater than ever as companies depend more and more on big data analytics and AI-driven insights.
Some of the top market research firms are based in India; they offer industry-specific reports, consumer insights, and tailored analytics to help organizations stay ahead of the curve. These companies provide specialist services to a variety of industries, including competitive intelligence, customer experience analysis, advertising research, and brand tracking.
This article highlights the 10 best market research companies in India, ensuring businesses make well-informed strategic decisions backed by accurate data
How do Market Research Companies collect data
Surveys & Questionnaires – Market research firms conduct online, phone, and in-person surveys to gather direct feedback from consumers and businesses.
Focus Groups & Interviews – They organize small-group discussions or one-on-one interviews to explore consumer opinions, preferences, and experiences in depth.
Social Media & Web Analytics – Companies analyze online behavior, trends, and sentiment by monitoring social media interactions, website traffic, and digital engagement.
Observational Research – Researchers study customer behavior in real-world settings, such as shopping malls or stores, to understand buying patterns and preferences.
Big Data & AI-Powered Analytics – Advanced firms use artificial intelligence, machine learning, and large datasets to identify market trends, predict consumer behavior, and offer data-driven insights.
What industries benefit the most from market research
Retail & E-commerce – Helps businesses understand consumer preferences, optimize pricing strategies, and improve product placement for higher sales.
Healthcare & Pharmaceuticals – Assists in analyzing patient needs, drug effectiveness, and market demand for new medical treatments and healthcare services.
Financial Services & Banking – Supports risk assessment, customer segmentation, and investment trend analysis to enhance decision-making and customer experience.
Technology & Telecommunications – Aids in product innovation, user experience enhancement, and competitive analysis to stay ahead in a rapidly evolving digital market.
FMCG & Consumer Goods – Provides insights into brand perception, advertising effectiveness, and shifting consumer habits to maximize product reach and sales.
List of Top 10 Best Market Research Companies in India
1. Nielsen India
One of the most reputable market research companies in India, Nielsen India is renowned for its analytics and data-driven insights. Nielsen has a global footprint and has led the way in retail monitoring, media measurement, and consumer behavior analysis.
Businesses can make well-informed decisions about product launches, marketing plans, and competitive positioning by using the company’s actionable intelligence. They are a leader in the sector thanks to their extensive research procedures, which include panel-based surveys and analytics driven by artificial intelligence.
In addition to consumer research, Nielsen India is an expert in big data analytics, digital audience analysis, and measuring the impact of advertising. They can provide tailored solutions for companies of all sizes thanks to their extensive experience in a variety of industries, such as media, e-commerce, and FMCG.
Services Offered:
- Consumer behavior research
- Media and advertising effectiveness
- Retail tracking and analytics
- Digital audience measurement
- Big data analysis and AI-driven insights
Website: https://www.nielsen.com
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2. Kantar India
Leading market research company Kantar India provides companies with in-depth knowledge about customer behavior, brand positioning, and market segmentation. The business offers comprehensive solutions suited to certain sectors by utilizing cutting-edge research procedures, such as qualitative and quantitative approaches. Businesses may improve customer engagement, boost brand performance, and optimize marketing campaigns by using Kantar’s research platform.
Kantar India offers strategic suggestions supported by data-driven analysis in a number of industries, including technology, healthcare, and retail. Their proficiency in behavioral tracking and predictive analytics guarantees that companies can foresee changes in the market and customer preferences. Kantar India has made a name for itself as a reliable partner for numerous leading businesses seeking to obtain a competitive advantage thanks to its innovative approach to market intelligence.
Services Offered:
- Brand positioning and strategy
- Consumer behavior analysis
- Predictive analytics and behavioral tracking
- Media and advertising research
- Customer satisfaction studies
Website: https://www.kantar.com
3. Ipsos India
Ipsos India is a world leader in market research, providing brand tracking solutions and comprehensive consumer insights. The business is renowned for its creative approach to research, collecting data using both conventional and digital methods. Ipsos is a preferred option for businesses seeking top-notch research services because of its expertise in opinion polls, social research, and strategic brand consultancy.
Ipsos India’s capacity to deliver real-time market intelligence using state-of-the-art technology is one of its main advantages. Ipsos assists companies in making data-driven decisions that spur expansion by monitoring market trends and evaluating customer feedback. The organization is a flexible competitor in the market research space because its research covers a variety of industries, including technology, healthcare, finance, and automobiles.
Services Offered:
- Consumer sentiment analysis
- Brand tracking and consulting
- Social research and public opinion polling
- Market segmentation studies
- AI-driven analytics and digital research
Website: https://www.ipsos.com
4. Hansa Research
A well-known Indian market research company, Hansa Research focuses on media analytics, brand strategy, and consumer insights. Businesses can better understand their target demographic and hone their marketing tactics by using the company’s tailored research solutions. To give clients thorough market insight, Hansa Research combines contemporary data analytics with conventional research techniques.
Hansa Research’s emphasis on measuring client happiness and experience is a fundamental component of its methodology. By analyzing consumer interactions and brand perception, the company helps businesses enhance their product offerings and improve customer loyalty. With its deep expertise across multiple industries, including FMCG, healthcare, and media, Hansa Research is a reliable partner for businesses looking to gain actionable insights.
Services Offered:
- Customer experience and satisfaction research
- Brand tracking and positioning analysis
- Media effectiveness measurement
- Retail and shopper behavior research
- Market entry and expansion studies
Website: https://www.hansaresearch.com
5. Majestic MRSS
One of the independent market research companies in India with the quickest rate of growth is Majestic MRSS, which provides a wide range of services in consumer behavior analysis, business consultancy, and market intelligence. The business offers data-driven solutions that help companies make better decisions and maximize their marketing efforts.
Majestic MRSS incorporates AI, machine learning, and big data analytics into their research processes with a focus on innovation. This gives companies access to forecasted information that boosts expansion and competitiveness. The business is a diverse player in the industry, catering to a number of industries such as healthcare, automotive, and technology.
Services Offered:
- Consumer behavior analytics
- AI-powered research solutions
- Competitive intelligence and business consulting
- Market segmentation and trend analysis
- Product testing and innovation studies
Website: https://www.majesticmrss.com
6. Market Xcel
Market Xcel is a well-known market research company in India that provides insightful data analysis, survey research, and strategic consulting services.
The company uses advanced analytics and AI-driven methodologies to help businesses navigate complex markets and make informed decisions. Their research covers industries such as consumer goods, healthcare, and financial services, offering customized reports tailored to client needs.
Services Offered:
- Consumer insights and behavior analysis
- Competitive market intelligence
- Brand performance tracking
- Customer satisfaction surveys
- Digital transformation consulting
Website: https://www.market-xcel.com
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7. Velocity MR
An established market research company in India, Velocity MR is renowned for providing creative, technologically advanced research solutions. Businesses can improve their strategy by using the company’s extensive insights into consumer behavior, market trends, and competitive environments. To guarantee thorough market intelligence, they employ digital surveys, AI-powered research instruments, and data analytics.
FMCG, healthcare, finance, and retail are just a few of the industries in which Velocity MR specializes. Their capacity to provide comprehensive research services, such as concept validation, brand positioning, and product testing, makes them an invaluable collaborator for companies seeking to make well-informed choices. Clear and useful insights are given to clients via their sophisticated analytics and data visualization capabilities.
Services Offered:
- Consumer and market segmentation studies
- AI-powered analytics and trend prediction
- Brand health and performance measurement
- Customer satisfaction and experience research
- Competitive analysis and industry benchmarking
Website: https://www.velocitymr.com
8. Sigma Research & Consulting
Sigma Research & Consulting is a full-service market research firm offering customized solutions for businesses across different sectors. The company excels in consumer research, brand analytics, and strategic consulting, helping organizations stay ahead in a competitive marketplace. Their robust methodologies ensure accurate data collection and in-depth analysis to guide businesses in making strategic decisions.
Sigma Research & Consulting leverages advanced research methodologies, including big data analytics and AI-driven insights, to provide clients with a 360-degree view of their target market. Their expertise in quantitative and qualitative research makes them a trusted partner for businesses looking to gain an edge.
Services Offered:
- Consumer insights and brand analytics
- Business strategy consulting
- Market segmentation and competitive intelligence
- Product feasibility and innovation research
- Digital transformation and AI-driven analytics
Website: https://www.sigma-research.com
9. SG Analytics
A well-known market research and analytics consulting company, SG Analytics offers businesses useful insights in a range of sectors. The company helps businesses make strategic decisions by specializing in business intelligence and data analytics. SG Analytics provides a wide range of market research consulting services, such as competition analysis, market trend studies, consumer behavior analysis, and qualitative and quantitative research.
They have experience in a variety of industries, including consumer goods, technology, healthcare, and finance. By employing a broad global panel of respondents, SG Analytics ensures that organizations receive trustworthy and data-driven insights to support sound decision-making.
Services Offered:
- Qualitative and quantitative market research
- Consumer behavior analysis
- Market trend studies
- Competitive analysis
- Data analytics and business intelligence
Website: https://www.sganalytics.com
10. MarketsandMarkets
MarketsandMarkets is a global market research and consulting firm with a significant presence in India. The company is renowned for its extensive industry studies and data-driven insights, assisting businesses of all sizes in understanding market trends, competitive landscapes, and emerging opportunities.
MarketsandMarkets provides in-depth market research reports across various industries, including healthcare, information technology, chemicals, and consumer products. These reports offer market size, growth estimates, trends, and competitive information to help organizations make informed decisions.
Services Offered:
- Market research reports
- Industry analysis
- Market forecasting
- Competitive intelligence
- Consulting services
Website: https://www.marketsandmarkets.com
Conclusion
To sum up, market research is essential to a company’s ability to stay ahead of the competition. These 10 leading market research companies in India offer insightful information that promotes customer happiness, corporate expansion, and strategic decision-making.
These businesses provide a variety of services suited to various company requirements, whether you’re evaluating the health of your brand, launching a new product, or researching consumer trends.
FAQ
How much does market research cost?
The cost of market research varies depending on the scope, methodology, and complexity of the study. Basic surveys may cost a few thousand rupees, while large-scale studies can cost lakhs.
Can startups benefit from market research services?
Yes, startups can use market research to validate business ideas, understand customer preferences, and create effective marketing strategies before launching their products.
How can I choose the best market research company for my business?
Consider factors such as industry expertise, methodology, reputation, past client reviews, and service offerings when selecting a market research company for your business needs.
