Overview
Singapore ranks 19th in the world for market research
Singapore is swiftly becoming the preferred choice for a multiple number of top research agencies anticipating to be at the forefront of market research. Industrialists believe that Singapore acts as the gateway to a competent local talent pool, secure investments and the country’s innovative economy. According to a European Society for Opinion and Market Research (ESOMAR) survey in 2021, market research turnover was USD 179 million and Singapore was ranked 6th amongst 24 countries in Asia Pacific and 19th globally, out of 104 countries.
The main clients of the Singaporean market research sector include companies in the Manufacturing (Consumer Non-Durables), Information and Communication (Telecommunications and ICT), and Financial and Insurance sectors. Likewise, the country is already home to a sizable number of giant multinationals, in industries including consumer packaged goods, automobiles, and food and beverages, which makes it an ideal hub for exceptional research agencies. Similarly, with the development in market research, organizations are more inclined to have a deeper understanding of how their customers can feel better supported.
Local bodies established to uphold the highest standards of market research and ethics
The local authorities and associations relating to the market research industry include the Market Research Society Singapore (MRSS), Institute of Advertising Singapore, Marketing Institute of Singapore and Singapore Advertisers Association. Further, it is governed by ESOMAR, which stands as the global association for the research industry.
The standards and regulations of ESOMAR grant companies the ability to produce accurate and reliable research. Further, it serves as a regulatory body for data protection and lays guidelines that ensure that no malpractice occurs pertaining to data from any participants.
Key Trends
Technology benefits the industry tremendously in the collection of qualitative and emotional data
Modern technology can help to investigate people’s responses to products and promotions to a deeper level. Advanced analytics, eye tracking and facial sensors are also used to develop deeper consumer insights. Market research firms in Singapore such as Nielsen and Kantar are rapidly adopting them.
Further, technology such as EEG, or electroencephalogram, is capable of measuring electrical activity along the scalp - for instance, indicating the level of attention, emotion and memory to an advertisement. Biometrics too are employed to check the heart rate and capture the emotional journey of the consumer while he or she watches an ad.
Techniques such as facial coding also add a real-time diagnostic layer to the data, by capturing positive/negative expressions and surprise, which measure expressed emotions of the customers. A combination of all these emotions derives a more complete picture of how consumers react to advertisements or products, and gives a more truthful picture, rather than simply relying on answers to questions.
Key Statistics
- World Bank ranking 2020 on the Ease of Doing Business (86.2 out of 100)
2nd worldwide out of 190 countries (2020, World Bank)
- Heritage Foundation and Wall Street Journal 2022 Index of Economic Freedom:
'Free' (84.4 out of 100)
1st amongst 45 countries in Asia Pacific
1st worldwide out of 186 countries
- World Economic Forum 2019 Report on Global Competitiveness:
Score: 84.8 out of 100
1st (most competitive) amongst 28 countries in Asia Pacific
1st worldwide out of 154 countries
- Online research versus face-to-face spend as a % of total spend (2017): 35%.
- The share of domestic versus international clients (%) as of 2017 was 67% domestic clients and 33% international clients.
- Fieldwork project percentage 2017: Domestic Projects 80% and International Projects 20%.
- Share of Types of Research undertaken as of 2017: Quantitative 75%, Qualitative 20% and Other 5%.
Top Singapore MNCs in Market Research Sector
GARTNER ADVISORY (SINGAPORE) PTE. LTD.
Gartner Advisory (Singapore) was incorporated in the Central District of Singapore, in 1987. It is a branch of Gartner, which is a global research and advisory company. The Singapore office is operated by more than 200 associates leading to many collaborations. Gartner Advisory (Singapore) delivers marketing research including objective insights and advice through reports, briefings and proprietary tools of enterprises. It also offers consultancy services based on market research, custom analysis and on-ground support. According to the company’s associates, the Singapore office offers a multilingual and diverse environment that has assisted the growth of the company.
GFK ASIA PTE. LTD.
GfK Asia was incorporated in Singapore in 1996. It is part of the German-based global group, Growth from Knowledge (GfK), a company which specializes in market research, business consulting and prescriptive data analytics. For four decades GfK has provided media audience research services globally, with the Singapore office serving as the regional headquarters for GfK’s Asia-Pacific operations. It also provides media measurement services by conducting TV measurement services. GfK Singapore focuses on consultation, research, and brand expertise with the help of data science, and AI-backed technology provided through the gfkconsult platform. According to GfK’s FutureBuy report in 2018, a notablegrowth in online shopping was recorded in the Asia-Pacific markets.
EUROMONITOR INTERNATIONAL (ASIA) PTE. LTD.
Euromonitor International (Asia) was established in Singapore in 1998. It is a branch of Euromonitor International, a global provider of business intelligence, market analyses and consumer insights, based in London. The Singapore branch is a regional hub, operated by international employees from over 30 nationalities who carry out the management of client relationships, and conduct syndicated and consultative research for South-East Asia. The company assists organisations in developed countries in building strategies that lead to growth and success locally and internationally. In 2022, Euromonitor International partnered with the 17th Retail Asia Awards, an event which recognises the most outstanding retail initiatives made in the region.
IPSOS PTE. LTD.
Ipsos Singapore was incorporated in 2002 and is a branch of Ipsos, a major player in custom research, and in the market and opinion research industry. Ipsos Singapore offers business consultancy and research, advisory services, management services, packaging research services, and public policy improvement research programmes and surveys for the Ipsos vaccine research practice. It also provides global market research capabilities and insights to clients through Ipsos.Digital, an automated online market research platform. Ipsos Singapore’s operations also includes services provided by Synthesio, a social media listening platform, which was acquired by Ipsos in 2018.
KANTAR SINGAPORE PTE. LTD.
Kantar Singapore was incorporated in 1973 and is located on Scotts Road. It is a branch of Kantar, the globally renowned company that offers data, insights and consulting services. Kantar Singapore offers a portfolio of services which includes research capabilities, advertising, marketing and PR services, public policy and society insights and programmes, and advisory services for governments. In 2022, Kantar Singapore hosted the company’s Digital Creative Awards for testing 2021’s most creatively effective digital ads in Southeast Asia. The company was recognised and featured in AsiaOne for its Digital Creative Awards.
FROST & SULLIVAN (SINGAPORE) PTE. LTD.
Frost & Sullivan (Singapore) was established in 1997 asSouth-East Asia’s regional headquarters of the world renowned American company. Frost & Sullivan (Singapore) offers growth consultation services for the digital transformation sector. It partners with clients to provide growth initiatives, assistance in utilising technology for developing better solutions, and aid clients with better marketing solutions and promotions for their brands and products. It also provides digital case studies to the Asia-Pacific region. The company hosted Frost & Sullivan Asia Pacific Best Practices Awards to select the most outstanding companies from the automotive, energy, building and environment, healthcare, Information Communication Technology and logistics sectors in the Asia-Pacific.
THE NIELSEN COMPANY (SINGAPORE) PTE. LTD.
The Nielsen Company (Singapore) was incorporated in 1971. It is a branch of Nielsen, a global audience measurement, data and analytics company serving the media sector. In the Asia-Pacific region, Nielsen provides data that connects people and media in leveraging the global advertising and content marketplace. The Singapore branch offers audience measurement solutions, including cross-media, digital and TV measurement solutions; media planning marketing solutions; and content solutions. The Nielsen Company (Singapore) cinched the Market Research Agency of the Year Award for seven consecutive years at the Agency of the Year Awards.
YOUGOV SINGAPORE PTE. LIMITED
YouGov Singapore was incorporated in 2013. It is a branch of YouGov, the international research and data analytics group based in the UK. YouGov Singapore offers market-leading research through surveys, polls, custom research through technology, advertisements, creative and product concept testing, digital financial services, audience intelligence solutions, precision data for improving advertising solutions, and brand and campaign tracking solutions. In 2020, YouGov Singapore was honoured as the Research Data and Analytics Group of the Year at the Singapore Business Awards. It was also a Gold Sponsor at the 2022 PR Awards.
IQVIA SOLUTIONS ASIA PTE. LTD.
IQVIA Solutions Asia was incorporated in Singapore in 1986. It is the Asia-Pacific headquarters of IQVIA, a global provider of advanced analytics, technology solutions, and clinical research services for the life sciences industry. IQVIA Singapore assists the healthcare sector with data, technology, advanced analytics and human expertise. With 400 employees, it also handles other IQVIA operations in the region. The Singapore branch comprises a clinical research organization for research and development services, commercialization solutions including advisory services, advanced analytics, and real-world insights; and technological offerings. IQVIA is ranked on Fortune’s list of the World's Most Admired Companies.
DYNATA SINGAPORE PTE. LTD.
Dynata Singapore, which was incorporated in 2011, is a branch of Dynata based in the United States, which is a global partner for data-driven insights that facilitate growth. Dynata Singapore provides market research and advertising solutions to empower brands, as well as for media/marketing providers that assist brands when using the Dynata platform for making marketing decisions. Dynata Singapore delivers high quality first-party data, software and tech-enabled services to enable business insights and decisions, which are provided for market research, consulting, investments and healthcare firms.
Top Singapore Large Local Enterprises in Market Research Sector
SPIRE RESEARCH AND CONSULTING PTE. LTD.
Spire Research and Consulting was established in Singapore in 2000 to address the demands of the research and consulting industry in global countries. The company offers high quality market knowledge to assist clients in making efficient business choices. It is involved in holistic research projects and provides tools for creating business plans, sales quotas, quantifying budgets and investments, and product launching solutions. Spire Research and Consulting merged with YAMADA Consulting Group (YCG), an independent consulting group in Japan, and became the global brand of YCG outside Japan. The company has also established a global footprint in Latin America, the Middle East, Russia/CIS/Eastern Europe, and Africa.
ACORN MARKETING & RESEARCH CONSULTANTS PTE. LTD.
Acorn Marketing & Research Consultants was founded in Singapore in 1985. It is managed by Asian researchers to assist clients to not only understand all aspects of the marketing life cycle - from facts, patterns, predications or data - but to also understand the consumer. The company has developed scientific models and programmes for innovative products and services, understanding market opportunities, improving customer experience, and tools for developing and testing brand communication. It also offers brand consultancy and customised research tools. Acorn Marketing & Research Consultants has offices in China, Hong Kong, Korea, Japan, Indonesia, the Philippines, Thailand, Vietnam and Malaysia.
MEDIA RESEARCH CONSULTANTS PTE LTD
Media Research Consultants is a Mediacorp Company, and was incorporated in Singapore in 1989. It is a full-service consumer research consultancy company, which is operated by research specialists and data scientists, to provide concise data-driven solutions for business queries, advanced analytics, consumer research, field operations and infrastructure services, and case studies. For 30 years the company has served some of Singapore’s best-knowngovernment agencies and brands. This has led to the company’s certification by ISO for its consumer research consultancy expertise.
Top Singapore SMEs in Market Research Sector
BLACKBOX RESEARCH PTE. LTD.
Blackbox Research was incorporated in Singapore in 2001. It provides clients with decision science solutions offering business, consumer, and community-wide perspectives for ongoing problems and challenges. Blackbox Research has capabilities in analytics, strategy, technology and design. It takes a three-way approach of designing, developing and delivering solutions for these problems. For over 20 years, the company has served MNCs, government agencies, advertising agencies, management consulting firms, regulators, economic and trade bodies, and NGOs/charities from different sectors. These sectors include food and beverage, technology, education, learning and development, service delivery, arts and culture, employment and careers, and public health, within the Asian region.
JOSHUA RESEARCH CONSULTANTS PTE. LTD.
Founded in Singapore in 1994, Joshua Research Consultants is a market research agency that addresses the demands of clients by providing quality fieldwork services. It was later re-established in 2006 and is recognised within the region as a provider of data collection services. The company is operated by a team of capable personnel with good understanding and insights about the local society, to collaborate with clients for developing project plans, to provide actionable data for creating strategic and tactical business decisions. Joshua Research Consultants was awarded the Top 20 Outstanding Achievement Award, The Industry Star Award, and Small Medium Business Association (SMBA)’s Promising SME 500 Award.
INSIGHTASIA RESEARCH GROUP (SINGAPORE) PTE. LTD.
InsightAsia Research Group (Singapore) was founded in 1989 as a research specialist in Asia. Due to the growth of the company, InsightAsia Research Group relocated its headquarters to Singapore. The Singapore branch provides solutions for business and brand issues through research and has capabilities in desk research, and qualitative and quantitative research. It also provides product placement, sensory analytics, advanced analytics, mystery shopping, social listening, observation usability testing, eye tracking, online forums, digital diaries and video blogging services. Since it was established in Singapore, the company has successfully carried out its operations for 21 years.
AFFLUENTIAL PTE. LTD.
AFFLUENTIAL was incorporated in Singapore in 2016. It is a leading provider of data, insights and analytics for the affluent consumer. Operated by a global team of experts from varied backgrounds and disciplines, the company provides a suite of solutions and products. These include the DATAVAULT for user experience, and access to browsing AFFLUENTIAL data and products; the Insights Engine for customising, interacting, and downloading AFFLUENTIAL data; LuxeTalk for consumers to converse about high-end brands, products, and services; and A³ for deep analytical engagements with customers. The company also offers Trendlens - a data product for premium luxury brands. AFFLUENTIAL was nominated Agency of the Year for three consecutive years.
NEXUS LINK PTE. LTD.
Nexus Link is a market research company which was incorporated in Singapore in 2006. It offers clients end-to-end services, from research design to insights-reporting. It is focused on providing professional research advice, customized research services and innovative recommendations for business causes. The company also has capabilities in delivering customer satisfaction and loyalty measurements, employee engagement surveys, public opinion surveys, segmentation studies, brand equity measurements, concept testing, usage surveys and competitive analysis. Nexus Link’s team of statistical experts have an excellant expertise in advanced statistical techniques.
AXANTEUS RESEARCH PRIVATE LIMITED
Axanteus Research, which was incorporated in Singapore in 2004, and is a business and financial hub in the Asia-Pacific. The company provides a suite of marketing research services which includes product development, concept testing, market analysis, consumer analysis, advertising testing, media research among other services. These services are provided to many industries - including healthcare, pharmaceutical, medical, travel, hospitality and entertainment, food and beverage, retail and FMCGs - as well as for governmental, non-profit and international organisations. It is a member of the Market Research Society of Singapore and ESOMAR, the international society for upholding the ICC/ESOMAR International Code of Marketing and Social Research Practice.
EA RESEARCH & CONSULTING PTE. LTD.
EA Research & Consulting (EARC) is a market research and consulting company, established in Singapore in 2008. It provides a plethora of quantitative, qualitative and neuromarketing research services. The company utilises various methodologies for gathering data which is translated to practical and relevant solutions for businesses and organisations. EARC has evolved from a staff-strength of two to a thriving team of seven. It also collaborates with a network of surveyors, interviewers and recruiters. Some of EARC’s clients include SMRT Corporation, the People’s Association, the Health Promotion Board, Tan Tock Seng Hospital, the Ministry of Education Singapore, GfK Asia, and General Hospital.
DIVERGENT INSIGHTS PTE. LTD.
Divergent Insights was incorporated in Singapore in 2017. Serving the automotive, electronics and durable goods, healthcare, media, retail and catering sectors, Divergent Insights assists organisations to make revolutionary business choices. The company specialises in automotive car clinics, hybrid gang techniques and creative workshops. It also provides a range of services which include qualitative, quantitative, UX testing, data processing chartering, CATI and online services. The Singapore office has capabilities in solutions for customer intelligence, market intelligence, product intelligence, social listening, competitive intelligence and emotional intelligence, and also conducts studies on brand, product and service research. Today, Divergent Insights has a global footprint in India, South Korea and China.
ASSEMBLED PRIVATE LIMITED
Assembled was established in Singapore in 2017, and serves the healthcare sector, B2B clients, and affluent research participants. It provides market research services, qualitative and UX studies, and quantitative research services which include proprietary articulation tests, recruitment services, social and model recruitment, exceptional field experiences and sustainable research. The company also works closely with the healthcare sector with access to patients, doctors and wellness influencers. Today Assembled has served 106 satisfied clients, and has completed 416 qualitative and UX projects successfully. It also serves clients from Malaysia, Indonesia, the Philippines, Thailand, and Vietnam.
APEIRON MARKET RESEARCH & CONSULTING
Apeiron Market Research & Consulting is a premium consultancy company which was incorporated in Singapore in 2018. It offers clients market research, feasibility studies, consumer behaviour analytics, business plan development, business expansion and consultation services. It also delivers intelligence reports, with practical insights on market trends to facilitate the implementation ofbusiness strategies. For more than 15 years, the company has served several industries including retail, education, healthcare, manufacturing, real estate, tourism and services. Apeiron Market Research & Consulting is an active member of the Largest Market Research Organization for learning the latest trends and techniques in the industry.
Top Singapore Fastest-Growing Companies in Market Research Sector
MILIEU INSIGHT PTE. LTD.
Milieu Insight was incorporated in Singapore in 2016 as a consumer research and analytics company. In response to the demand for quick and reliable information to make strategic decisions, Milieu Insight assists businesses successfully in all data-driven societies. The company provides various solutions through its platforms. These include the Milieu Canvas platform for integrated research solutions; the Milieu Portraits platform for gaining insights based on demographic, trait, behavioural, and consumption habits to build consumer portraits; and Milieu Studies for launching surveys to address research demands. In 2022, Milieu Insight was awarded Campaign Asia’s Tech Most Valuable Product Award.
SKIM ANALYTICAL PTE. LTD.
SKIM Analytical, which was established in Singapore in 2015, is a branch of an international customer insights agency. The Singapore branch provides a range of market research services for major banks, telecoms, FMCG firms and other consultancies for many cases. These services include advanced analytics; brand communication; product development and innovation; developing digital commerce and online shopping behaviour; and choice modelling. The company evolved in a span of two years from a staff strength of three to ten, resulting in the relocation to new premises. In 2016, SKIM Analytical was named a finalist for Market Research Agency of the Year at the Agency of the Year Awards (AOTY).
SIXTH FACTOR PTE. LTD.
Sixth Factor was incorporated in Singapore in 2017 is a branch of a market research company in Dubai, UAE. The company specialises in behavioural economics in market research, other market research services, advanced analytics and advisory services. It also provides special platforms for suitable services, including SixthPlatform Insights for clients to manage consumer conversations through data and research; SixthMobile, an in-house mobile panel; Sensonomics for neuro-marketing services; SixthDigital for social media analysis for businesses; and SixthRetail which is a marketing activation monitor. Sixth Factor has notable clients including Microsoft, GlaxoSmithKline, Samsung, Nestle, HSBC, Himalaya, 3M Science and General Motors.
ABN IMPACT PTE. LTD.
ABN Impact was incorporated in Singapore in 2013, and was later acquired by InSites Consulting. It is not only a marketing research company but also an insight agency, which utilises its own insight community technology to assist mainstream and creative consumers in delivering richer insights for brands. The company offers various solutions for tracking consumer needs, culture shifts and trends, creative crowdsourcing, consumer connect programmes, and the consumer-centric academy programme. InSites Consulting fosters consumer collaboration and empathy for people and brands to generate a sustainable future.
INTAGE SINGAPORE PTE. LTD.
INTAGE Singapore was founded in 2013 and is located at The Octagon on Cecil Street. It is a subsidiary of the INTAGE Group - amarketing research provider which is based in Japan. INTAGE Singapore’s operations comprises the Mini-Asia Lab for providing research offerings and Asia market-based insights to companies, and the multi-country MROC solution for offering local online intelligence. It also provides management consultancy services to its clients. The INTAGE Group is the first marketing research provider in Asia and it is the tenth largest research organization in the world.
JUST WORLDWIDE PTE. LTD.
Just Worldwide was incorporated in Singapore in 2016. It is a branch of the Just Worldwide company in London, which is a global provider of market research services to the healthcare, biotech, life sciences and pharmaceutical sectors. Just Worldwide’s Singapore office provides qualitative and quantitative research covering one-stop research needs, including field management, recruitment, survey programming, content analysis, reporting, document translation, transcription, tabulation, moderation, simultaneous translation, and screener discussion and guide development. It also conducts studies covering the healthcare sector from physicians and patients to payers. Just Worldwide is a member of BHBIA and EphMRA.
YOUGOV SINGAPORE PTE. LIMITED
Repeated company (See MNCs No.8)
DATASPRING SINGAPORE PTE. LTD.
dataSpring Singapore was established in 2013 with the launch of Surveyon. Surveyon provides research panels which comprise expansive coverage of Asia, data and fast turnaround times. dataSpring offers services including questionnaires, translations, programming, fieldwork, data processing and tabulation. In 2014, all Surveyon partner panels were integrated to form one platform, in order to provide clients with full access to all Asian panellists. dataSpring was acquired by INTAGE Holdings in 2020.
MMR RESEARCH WORLDWIDE PRIVATE LTD.
MMR Research Worldwide was incorporated in Singapore in 2011 and is a branch of MMR Research Oxford, a global consumer and sensory research agency. The company provides consumer and sensory research, innovation consultancy, brand strategy, video production, digital design and marketing communication capabilities. It also offers product development and testing, packaging development and concept development testing. The company has been operating in Singapore for 12 years.
THE NIELSEN COMPANY (SINGAPORE) PTE. LTD.
The Nielsen Company (Singapore) was incorporated in 1971. It is a branch of Nielsen, a global audience measurement, data and analytics company serving the media sector. In the Asia-Pacific region, Nielsen provides data that connects people and media in leveraging the global advertising and content marketplace. The Singapore branch offers audience measurement solutions, including cross-media, digital and TV measurement solutions; media planning marketing solutions; and content solutions. The Nielsen Company (Singapore) cinched the Market Research Agency of the Year Award for seven consecutive years at the Agency of the Year Awards.