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Outsourcing and offshoring of Market Research

Market research service providers have been gaining prominence in the market research value chain. The offshorable industry for market research is estimated at $4 billion in 2006, according to a new industry report from Research adn Markets (www.researchandmarkets.com). The Indian MRO space is experiencing a phase of rapid growth over the last few years. Newer services have been added to the offshored list, many new vendors have emerged and several existing vendors have developed greater capabilities. The Indian vendor landscape ranges from Captives of large research agencies to pure-play MRO vendors, full service research firms, KPOs and large and medium BPO service providers. All major the vendors are rapidly evolving in terms of service offerings and have aggressive expansion plans in near future. "Market Research Outsourcing: Buyer Survey" provides in-depth insights and analysis about offshoring awareness and apprehensions of the buyer community (Market Research Agencies). The report estimates that MRO revenues are slated to grow from $148 million for FY07 to reach $800 million by FY12 at CAGR of 47%.

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