India – A Booming Destination for Outsourcing Market Research Services

In 2008 the European Society of Market Research estimated that the global market research industry was about $21 billion, of which 50% could be outsourced. Along the same lines came the estimates of ValueNotes, which predicted the Outsourcing Market Research (OMR) industry in India was likely to reach $800 million by 2012 at a Compound Annual Growth Rate of 47%!

Thus if you are planning on outsourcing market research to India you are spot on with the trends.

India, the favorite outsourcing destination for market research services

According to a report, the market research industry in India is likely to grow by 80% percent in the coming years. Two major reasons for this are:

1. First, India has a very high number of English speaking, well-qualified and intellectual professionals as compared to other countries.
2. Second, India has the capability to offer low cost and high-end research services to companies.
   

Future of outsourcing market research services to India

The scope of market research in India is still evolving. The only challenge, however, is to acquire and retain talented employees, who can deliver quality research services to customers. Attrition and rising wage levels, together with the adverse rupee dollar ratio might have an impact on the growth of this segment.