MRSI report: Indian research and insights industry touches Rs 29,008 crore in FY25

The Indian research and insights industry reached Rs 29,008 crore in FY2025, marking a 10.9% increase from Rs 26,300 crore in FY2024, according to the Market Research Society of India’s latest industry sizing report.

Released on January 5, 2026, the report titled The Indian Research & Insights Industry 2025 Update points to steady expansion driven by analytics-led services, growing international demand, and wider adoption of advanced data capabilities. The industry’s growth aligns with broader economic trends and increasing reliance on data-led decision-making across sectors.

Analytics remained the largest and fastest-growing service line, accounting for nearly 60% of the overall market. More than 90% of analytics demand came from international clients. The segment grew 14% in FY2025, supported by rising use of predictive modelling, customer lifetime value analysis and econometrics. Traditional digital analytics services showed signs of maturity, while cloud-based platforms and AI-driven systems enabled greater scale and automation.

Custom market research recorded an 8% growth, with higher uptake of consumer experience studies using tools such as facial coding, eye tracking and emotional response analysis. Syndicated research grew by 6%, aided by manufacturing-focused clients and increased outsourcing of research work to India-based captive centres. Media measurement continued to face pressure as viewing behaviour shifts from television to digital and streaming platforms.

Speaking on the industry’s growth, 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, further said: “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.”

Looking ahead, the industry is projected to grow at around 10% in FY2026. Growth is expected to be supported by sustained international demand for integrated insight delivery, wider use of AI in analysis, and expansion of global companies’ operations and captive centres in India. Domestic demand is likely to be driven by increasing digital maturity, demand for hyperlocal insights, renewed focus on B2B research linked to manufacturing and automotive sectors, and greater research adoption among SMEs.