​In today’s rapidly evolving business landscape, understanding market dynamics is more crucial than ever. India’s market research industry stands at the forefront of this transformation, offering invaluable insights that drive strategic decisions across sectors.​

The Indian research and insights sector generated USD 3.2 billion in FY2024, a 12.6% growth over FY2023 according to the Market Research Society of India (MRSI). This amount is expected to increase to USD 3.4 billion in FY2025, highlighting the sector’s strong development trajectory.

The rise of digital platforms, the growing reliance on data-driven initiatives, and the diversification of customer behavior are the main drivers of this growth. At the forefront are industry-leading companies like Nielsen India, and, Ipsos India, who offer complete research solutions to a wide range of industries.

In this blog, we’ll delve into the top market research companies in India, exploring their unique offerings and how they contribute to the nation’s economic and business development.

Why Is India a Developing Market Research Hub?

India has gained a preferred status as a market research hub because it offers a tremendous amount of research talent at the lowest costs. The culture of analytics and IT in the country facilitates the application of new-age research methodologies, right from AI-based insights to big data analytics. 

The higher penetration of digital media and shared usage of internet services have given companies real-time access to consumer information across various sectors. Digital change makes the studies more accurate and rich in content. Also, the fast-growing industries such as retail, FMCG, healthcare, and technology create faster demands for relevant market intelligence. All these factors make India the ideal market research hub that generates quality outputs at lower prices for the global customer.

List of Top 10 Market Research Companies in India

1. Nielsen India

A major market research organization in India is Nielsen. It is a global organisation of repute in itself, having been established as part of the conglomerate at the very beginning of 1923 and specializing itself as providing high-quality insights by data.

Headquartered in Mumbai, Nielsen India has extensive specialization in variety from consumer behavior, media consumption, retail performance, and ad performance. It supposedly serves a number of industries, including but not limited to FMCG, retail, media, and healthcare. Retail monitoring systems are reputedly one of the best for audience measurement that can, as a result, enable the businesses to understand better the market conditions and attitudes toward them.

Its broad network, along with powerful analytics capability, makes it possible for both local and multinational organizations to make data-driven choices that would be beneficial in driving growth and ensuring competitiveness in increasingly dynamic markets. Some key services are retail measurement, audience measurement, consumer insights, and analytics.

Key services:

• Data Analytics
• Retail Measurement

Clients: 

• Top FMCG, broadcasters, and advertisers.​

Location: 

• Wework Raheja Platinum.4B, 4th floor, Sag Baug Road, Off, Andheri – Kurla Rd, Marol, Andheri East, Mumbai, Maharashtra 400059

2. Kantar IMRB (Now Kantar)

Kantar IMRB, a unit of globally acclaimed Kantar Group today, is one of India’s most seasoned and trustworthy market research agencies, established in its initial form in 1970. Based in Mumbai, with its corporate headquarters, the company is engaged in offering rich consumer behavior insights, brand performance, and market emergence trends.

Kantar offers a range of services including brand health tracking, media measurement, customer satisfaction measurement, and advanced analytics. Their mission is to combine local depth and global research rigor. As a significant player in various industries like FMCG, telecom, financial services, and healthcare, Kantar helps firms make smart decisions with quality information.

Through their big data sets and cutting-edge research approaches, they provide the ideal choice for Indian and multinational clients seeking to familiarize themselves with India’s dynamic market.

Key Services: 

• Tracking Brand Health
• Media Studies
• Customer Satisfaction Surveys
• Market Segmentation.​

Clients:

•  International brands from diverse industries such as FMCG, telecom, and finance.​

Location: 

• 3rd Floor,The ORB, JW Marriott, IA Project Road, Andheri (E)Mumbai400099

3. Ipsos India

Founded in 1975, Ipsos India is a subsidiary of the world-renowned Ipsos Group, which is well known for systematic research methodologies and credible insights. The company has its office in Mumbai, which manages public opinion research, marketing, advertising, and similar fields of measurement in the media.

With decades of experience, Ipsos India provides insight to multinational companies and government organizations to understand consumers in terms of market trends, social perception, and shopping behavior. It encompasses research on markets and opinion research with a special emphasis on media measurement and strategic advice based on data.

The organization is reputed to complement global standards of research with strong local knowledge. Additionally, it has state-of-the-art instruments in experienced hands, which help Ipsos India make well-informed decisions, reduce risks, and respond well to developing consumer needs in the multicultural marketplace of India.

Key Services:

• Market Research
• Opinion Polling
• Social Research
• Media Measurement.

Clients: 

• Several multinational companies and government departments.

Location:

• Mumbai, Maharashtra

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4. SG Analytics

SG Analytics, an international data solutions and market research organization established in 2007 and located in Pune, focuses on research and analytics solutions for various industries including healthcare, BFSI, media and advertising, technology, and others.

Business research, investment insights, data analytics, ESG research, and data engineering represent the spectrum of SG Analytics services. It blends contextual insight and advanced analytics technology in its customer-centric process to help companies make strategic and informed decisions.

Company has thus earned a reputation on the account of quality delivery, international reach and domain expertise. With its solid footprint in India, the US, and the UK, SG Analytics keeps on empowering businesses with actionable insights in today’s dynamic data world.

Key Services:

• Market Research
• Data Analytics
• Business Intelligenc
• Investment Research.

Clients:

• Fortune 500 Clients across BFSI, Technology, Media and Healthcare Domains.

Location: 

• 601 & 602, 6th Floor, 2nd Wing, Cluster C, DP Farms Road, EON Free Zone, Kharadi, Pune 411014, Maharashtra , India

5. Hansa Research Group

Established in 1983 with offices in Mumbai, Hansa Research Group is India’s most trusted full-service market research firm. The firm is well known for its deep expertise and customized research solutions. Hansa services clients across different sectors such as media, FMCG, finance, healthcare, and government.

The company has experience in consumer studies, brand monitoring, media metrics, and social studies, enabling brands to get insights into the market dynamics and behavior of customers in real time. Their methodology integrates traditional research techniques and contemporary analytical tools to provide decisions that drive the business.

Equipped with high visibility in India and global research facilities, Hansa Research goes on to empower organizations with effective data and strategy thinking, making them a repeat partner for sound market research services.

Key Services: 

• Consumer Research
• Media Measurement
• Social Research
• Brand Tracking

Clients: 

• Front-runners of the media, FMCG, and public segments.​

Location: 

• Sahney Business Centre, Building “A”, First Floor, 27 Kirol Road, Vidyavihar (W) Mumbai – 400 086
• Contact no: +91 22 6179 8600

6. Market Xcel Data Matrix Pvt. Ltd.

Established in 2000 and headquartered in New Delhi, Market Xcel Data Matrix Pvt. Ltd. is a prominent full-service market research firm offering tailored research solutions. It excels at providing in-depth knowledge in the fields of FMCG, healthcare, automotive, retail, and Working across the entirety of India and having worked with different sets of clients, Market Xcel combines field knowledge with sophisticated analytics to provide end-to-end solutions that are accurate and actionable.

Services include quantitative and qualitative research, CATI surveys, mystery shopping, and business intelligence solutions. real-time, consumer-level information, Market Xcel helps businesses make strategic decisions. Its precision, speed, and client satisfaction have made it a go-to partner for Indian and multinational businesses.

Key Services: 

• Quantitative and Qualitative Research
• Data Analytics
• Fieldwork Services.​

 Clients: 

• Healthcare, automotive, FMCG, and telecom companies.​

Location:

• 1st Floor, JDKD Corporate, A-23, Mathura Rd, Mohan Cooperative Industrial Estate, Saidabad, New Delhi, Delhi 110044
• Phone: 011 4234 3500

7. TechSci Research 

TechSci Research is a market research and consulting firm founded in 2008 that operates out of Noida, India. The company is engaged in the provision of global high-quality market intelligence or advisory and strategic consulting services. It thereby addresses users as they evaluate emerging trends and forecast opportunities in the markets in which they operate.

TechSci Research continues covering market analysis in specific sectors, including automotive, healthcare, consumer goods, chemicals, energy, and information technology. The research reports, coupled with strong analytical and consulting work forces of the company, ensure that primary research, secondary information, and experts’ analysis are merged to give actionable results customized to customer needs.

It ensures that decision making is most comfortable with in-depth reporting and consulting solutions, which reduce risks and provide an edge to businesses in a highly competitive arena. High credibility and international visibility characterize TechSci as a sought-after partner in searching for in-depth insights into the market.

Key Services: 

• Market Research Reports
• Consulting and Industry Analysis. 

Clients: 

• Companies in automotive, healthcare, IT and consumer goods.

Location:

• National Capital Region, B-44, Block B, Sector 57, Noida, Uttar Pradesh 201301
• Phone: 0120 452 3900

8. Makreo Research and Consulting

Makreo Research and Consulting is an eminent market research and consultancy with an emphasis on traditional methods originating in Navi Mumbai. It boasts a good reputation worldwide, being customer-focused and offering many different research solutions across many different industries.

Makreo excels at identifying market trends, scaling consumer behavior, and analyzing the industry, mainly to facilitate strategic planning and decision making. Makreo delivers actionable intelligence emanating from the detailed interpretation and analysis of vast data concerning go-to-market strategies for startups and existing market players, based on the cues for expansion.

Besides passing market intelligence and strategization, Makreo also passes through consulting business and finance. However, that system is entirely developed in such a manner that solely only intelligent businesspersons could allow themselves to step unhampered over the unpredictable marketplace terrains with faultless precision, exact on-time deliverability, and usability.

Key Services:

• Business Advisory
• Market Study
• Custom Research

Clients:

• fact-and-figure-based. 

Location:

• 801, Trishul Goldmine, Palm Beach Rd, Sector 15, CBD Belapur, Navi Mumbai, Maharashtra 400614
• Phone: 096196 99069

9. Claight Corporation (Expert Market Research)

Claight Corporation (Expert Market Research) is a leading market research and consulting firm known for providing actionable insights and in-depth industry analysis across various sectors.

Operating under the brand “Expert Market Research,” the company specializes in syndicated reports, customized research, and consulting services, helping businesses make informed decisions. With a global presence and a strong foothold in India, Claight Corporation serves clients across industries like healthcare, energy, technology, food & beverage, and chemicals.

Key Services:

• Healthcare Reports
• Price Forecasting Reports
• Consumer Insights
• Market Reports

Clients: 

• Market research, in vastly more detail, of the Asia-Pacific digital marketing software and analytics industries for a digital marketing company.

Location:

• C130, C Block, Sector 2, Noida, Uttar Pradesh 201301

10. ValueNotes

​ValueNotes Strategic Intelligence is a leading market and competitive intelligence firm headquartered in Pune, India. Established in 1999, the company specializes in delivering actionable insights through services such as competitor analysis, customer intelligence, channel assessments, and market research.

With a global clientele, ValueNotes has been instrumental in aiding businesses across various sectors to make informed strategic decisions. In 2023, the firm was acquired by Avalon Global Research, enhancing its capabilities and expanding its reach in the research and analytics domain.

Key Services:

• Customer Intelligence
• Market Intelligence
• Compititor Intelligence
• Channel Intelligence

Clients:

• Honeywell, and BDO

Location:

• 302, Abhimanshree Apartments-2 Condominium, above ICICI direct, Ward No. 8, Abhimanshree Society, Aundh, Pune, Maharashtra 411007

Types of Market Research Services Offered

1. Quantitative include survey, formal questionnaire, statistical analysis of data.
2. Qualitative– these include focus groups, in-depth-interviews study, and behavior study.
3. Consumer Research-consumer behavior asks about attitudes and buying habits.
4. Brand Research-brand awareness, perception, and positioning.
5. Product Testing and Concept Testing-gives feedback on new and existing products.
6. Market Segmentation-groups the market as per demographic, behavioral or otherwise segmentation bases.
7. Competitor Analysis-analyzes the activity of the competitors as regards their position in the market with concurrent comparison in terms of strategies.
8. Mystery Shopping-anonymously checks the service quality.
9. Customer Satisfaction and Loyalty Studies-reveals an idea about customer experience and retention.
10. Usage and Attitude Studies-study of the consumer on usage and reason of the product or service.
11. Feasibility Studies-it is a study that determines the possibility of success concerning the involvement of new products or new markets.

How to choose an excellent market research firm in India 

• Clearly State Your Research Aims: Know if you require consumer behavior, market viability, competitor analysis, etc.
• Verify Industry-Specific Experience: Select an agency with expertise in your industry (retail, FMCG, healthcare, technology).
• Ask About Data Quality and Accuracy: Ask how they gather, verify, and analyze data for reliability.
• Evaluate Technological Capabilities: Preference should be given to companies employing sophisticated tools such as AI, data dashboards, and real-time monitoring.
• Verify Customization and Flexibility: The company should customize the research methodology to your specific business requirements.
• Assess Reporting and Insight Delivery: Reports must be concise, actionable, and on time.
• Verify Budget Transparency: Make sure there are no hidden costs and thorough cost breakdowns.
• Look for Post-Research Support: Good companies give advice on how to apply insights and monitor outcomes.

Benefits of Working with a Professional Market Research Firm

• Accurate and Reliable Data: Experts maintain high-quality data collection and validation for improved decision-making.
• Expert Insights and Analysis: Their expertise reveals deeper market trends, consumer behavior, and actionable insights.
• Access to Advanced Tools and Technologies: Utilization of advanced analytics platforms, AI tools, and data visualization increases research effectiveness.
• Time and Cost Efficiency: Saves internal resources by automating data collection, analysis, and reporting.
• Unbiased Third-Party Perspective: Provides objective insights, uncolored by internal assumptions or bias.
• Customized Research Solutions: Customized solutions based on your particular industry, target audience, and objectives.
• Informed Business Strategies: Supports data-driven marketing, product creation, and growth decisions.
• Competitive Advantage: Uncovers marketplace gaps, competitor strategies, and emerging trends ahead of others.
• Scalability and Long-Term Support: Capable of supporting small projects or wide-scale studies with ongoing strategic guidance

Conclusion

India is also best positioned in the field of market research because it has an extremely high proportion of talent joined with extremely straightforward and efficient solutions, superimposed on the platform of extremely robust IT and analytics infrastructure. With growing digital consumption and all other types of consumer information, India would also be a strategic asset for companies seeking in-depth market knowledge.

High-quality research companies in various industries make sure that companies can make informed, data-driven decisions. Investing in high-quality market research isn’t just a smart business move—it’s a ticket to long-term success. Entering a new market, launching a new product, or tweaking a brand plan, research eliminates risks and unlocks hidden opportunities. As the level of competition continues to rise, those businesses that concentrate on accurate information will continue to be at the forefront in an ever-evolving marketplace.

FAQs

1.What does a market research company do?

A market research company gathers, analyzes, and interprets customer, competitor, and marketplace data in a way that allows organizations to make informed decisions and reduce risk.

2. How do I choose the best market research company in India?

Search for industry background, successful methods, client feedback, service flexibility, and the capability to provide customized insights in sync with your business objectives.

3. Can Indian research companies be trusted by foreign firms?

Yes, most Indian companies have international clients to cater to with world class research, value for money, and professional staff very well versed with international markets.

4. Which industries heavily utilize market research?

Retail, FMCG, healthcare, IT, finance, and eCommerce are some of the major industries that utilize market research heavily for strategic decision-making.

5. How much does it usually cost to employ an Indian market research firm?

It is methodology-, project-, and duration-based. Indian firms are lower in price than global firms but very high in quality.