India market research industry up 10.9% in FY25: MRSI

India’s market research industry reached Rs 29,008 crore ($3.5 Bn) in FY2025, marking a 10.9% increase from Rs 26,300 crore ($3.2 Bn) in FY2024, according to the annual industry sizing report released by the Market Research Society of India (MRSI).

Titled The Indian Research & Insights Industry 2025 Update, the report said the sector is expected to maintain steady growth of around 10% in FY2026, despite global economic headwinds and geopolitical uncertainties.

Growth is likely to be driven by rising international demand for integrated insight delivery, greater use of artificial intelligence, and the need to synthesise multiple data sources for faster and more customised intelligence.


The expansion of global companies’ operations and captive centres in India is expected to strengthen international mandates, while the domestic market will benefit from increasing digital maturity and growing demand for hyperlocal insights. Higher investment in brand strategy across non-CPG sectors, a revival in B2B research linked to manufacturing and automotive growth, and rising reliance on research by SMEs are also expected to support momentum.

According to the report, the industry’s growth reflects a transition towards a more mature and diversified research and insights market, aligned with India’s broader economic growth and evolving consumer and manufacturing trends.

Analytics remained the largest and fastest-growing segment, accounting for nearly 60% of the market, with over 90% of demand coming from international clients. The segment grew by 14% in FY2025, driven by increased adoption of predictive modelling, customer lifetime value analysis, and econometrics. The report noted that while traditional services such as social media and web analytics have matured, AI-driven solutions and cloud platforms are enabling greater scalability and real-time insights.

Custom market research grew by 8%, supported by rising demand for specialised services such as consumer experience research using facial coding, eye tracking, and emotional response monitoring. Syndicated research expanded by 6%, aided by a modest rebound from manufacturing-led clients and higher outsourcing to India-based captive centres, although challenges remain in media measurement amid rapid digital and streaming adoption.

Commenting on the industry’s performance, Nitin Kamat, Chief Growth & Partnerships Officer, TAM Media Research and President at Market Research Society of India, said, “The Indian research and insights industry is entering a phase of maturity, where growth is driven less by volume and more by value. In alignment with Hon. Prime Minister Narendra Modi’s vision of Viksit Bharat 2047, which emphasises innovation, advanced capabilities and strategic value creation across sectors - the industry is gearing up to work alongside India Inc. to fuel progress. The shift from traditional data delivery to integrated, AI-enabled insights helps businesses act with speed and precision. Looking ahead, we expect the industry to evolve towards deeper adoption of advanced analytics and agentic AI, enabling India to lead in delivering actionable strategic intelligence on the global stage."

Mitali Chowhan, Director General at Market Research Society of India, added, “Despite global uncertainties, the Indian Research & Insights industry continues to demonstrate resilience and relevance. The steady double-digit growth reflects increasing trust in data-driven decision-making across sectors. With rising digital maturity, hyperlocal insight needs, and growing international mandates, India is well placed to shape the future of insight-led transformation globally.”