Have you ever questioned why certain companies’ goods and advertising techniques are so successful? The secret lies in effective market research. In 2025, as India’s economy continues to grow, market research companies play a pivotal role in guiding businesses through the complex landscape of consumer behavior, technological advancements, and regional diversity.
Quick Snapshot: Market Research in India
- Market Size: The Indian market research industry has seen significant growth, with an estimated value of ₹1,500+ crore.
- Services Offered:
- Quantitative and qualitative research
- Field surveys and online panels
- Consumer behavior analysis
- Brand health tracking
- Top Industries Utilizing Market Research:
- Fast-Moving Consumer Goods (FMCG)
- Healthcare and Pharmaceuticals
- Financial Services
- Technology and Telecommunications
How to Choose the Right Market Research Company for Your Brand
Selecting the appropriate market research partner is crucial. Consider the following:
- Industry Specialization: Does the company have experience in your specific sector?
- Technological Capabilities: Are they utilizing AI, machine learning, or other advanced tools?
- Geographic Reach: Are they able to carry out studies in different areas, such as Tier 2 and Tier 3 cities?
- Methodologies Used: Do they offer both traditional and modern research techniques?
- Client Portfolio: Have they worked with reputable clients in your industry?
Top Market Research Companies in India
1. Nielsen India
Website: https://www.nielsen.com/
Founded: 1923
Headquarters: Mumbai
Specialties: Consumer behavior, media measurement, retail analytics
Notable Clients: Coca-Cola, Nestle, P&G
Nielsen India is one of the oldest and most trusted names in market research. It provides in-depth insights into consumer behavior and retail dynamics, helping brands make informed decisions on product development, marketing, and pricing.
Nielsen is particularly strong in TV ratings, retail tracking, and FMCG sector research. Its vast dataset and consistent methodology make it a go-to for large-scale businesses. The company’s strong presence across urban and rural India ensures accurate and actionable insights.
2. Kantar IMRB
Website: https://www.kantar.com/
Founded: 1970
Headquarters: Mumbai
Specialties: Brand tracking, media analytics, consumer panels
Notable Clients: HUL, Tata Group, Amazon
Kantar IMRB, part of the Kantar Group, is known for its deep focus on brand equity, audience segmentation, and advertising effectiveness. With a strong field presence across India, it conducts both qualitative and quantitative research at scale.
The firm has contributed significantly to policy research and social studies in addition to business consulting. It uses advanced tools like facial coding, mobile tracking, and social media analytics tools for enhanced consumer analysis. Their client base includes top companies and media houses.
3. Ipsos India
Website: https://www.ipsos.com/en-in
Founded: 1975
Headquarters: Gurugram
Specialties: Opinion polling, brand strategy, innovation research
Notable Clients: PepsiCo, Airtel, Reckitt
Ipsos India is well-known for high-quality polling and consumer opinion studies. It provides data on brand health, product feedback, and market potential. The company blends digital tools with traditional methods to reach urban and rural consumers alike.
Ipsos has developed proprietary tools like Creative|Spark and Product|Lab to support innovation testing and launch readiness. Their detailed insights are valuable across retail, pharma, telecom, and policy sectors.
4. GfK India
Website: https://www.gfk.com/en-in
Founded: 1934
Headquarters: Gurugram
Specialties: Consumer tech, e-commerce, pricing analytics
Notable Clients: Samsung, Sony, Whirlpool
GfK India provides data-driven, real-time insights with a particular emphasis on the consumer electronics and technology sectors. Their syndicated research and analytics platforms help businesses evaluate market share, pricing trends, and consumer behavior in competitive categories.
GfK’s strategy gives clients a forecasting edge by fusing big data and surveys. Its insights are especially useful for companies launching electronics or digital services in India.
5. Hansa Research Group
Website: https://www.hansaresearch.com/
Founded: 1983
Headquarters: Mumbai
Specialties: Media ratings, customer satisfaction, political polling
Prominent Customers: ICICI Bank, Zed TV, and Star India
Hansa Research offers end-to-end research services including large-scale CATI/CAWI surveys, fieldwork, and analytics. With operations in over 70 cities, it covers diverse populations and languages.
The Indian Readership Survey (IRS) can only be conducted by this Indian company. Its media and consumer behavior studies are widely cited by advertisers and broadcasters. Hansa also works closely with brands on concept testing and market forecasting.
6. Market Xcel Data Matrix
Website: https://www.market-xcel.com/
Founded: 2000
Headquarters: New Delhi
Specialties: Field surveys, online research, brand perception
Notable Clients: LG, Dabur, Tata Motors
Market Xcel is known for its deep field presence and strong primary data collection methods. With 200+ team members and presence across 600 towns, it provides high-quality consumer research in both urban and rural regions.
Their services range from retail audits to digital panel studies. Market Xcel is often preferred by FMCG and auto clients for customized tracking and product feedback solutions. Their internal tech tools ensure fast and accurate reporting.
7. Majestic MRSS
Website: https://www.majesticmrss.com/
Founded: 1992
Headquarters: Mumbai
Specialties: Healthcare research, sensory studies, eye tracking
Notable Clients: Cipla, Kellogg’s, Maruti Suzuki
Majestic MRSS is one of the few companies offering advanced research methods like neuro-marketing, facial coding, and digital ethnography. They specialize in healthcare, FMCG, and automobile sectors.
The firm has multilingual capabilities to conduct studies across Asia and the Middle East. It uses mobile and online tools to gather real-time insights from target audiences. Their ability to work in culturally diverse environments sets them apart.
8. RNB Research
Website: http://www.rnbresearch.com/
Founded: 1995
Headquarters: New Delhi
Specialties: Product testing, ad tracking, customer satisfaction
Notable Clients: Airtel, Coca-Cola, Hero MotoCorp
RNB Research is a comprehensive market research firm that operates in more than ten nations. It provides both B2B and B2C research, helping companies refine their marketing strategies.
Their team focuses on brand awareness surveys, customer feedback, and ad recall. With a strong panel management system, RNB also conducts opinion polls and media consumption tracking. Their clients value their mix of precision and affordability.
9. ValueNotes Strategic Intelligence
Website: https://www.valuenotes.biz/
Founded: 2000
Headquarters: Pune
Specialties: Competitive intelligence, industry analysis
Notable Clients: SBI, Siemens, Asian Paints
ValueNotes specializes in research-led consulting for companies seeking insights into competitors, industry trends, and investment opportunities. Their strength lies in customized research and detailed market intelligence reports.
They cover sectors like BFSI, education, and manufacturing. ValueNotes is often used by investors and startups for go-to-market studies and risk analysis. Their reports are also cited in whitepapers and academic studies.
10. TechSci Research
Website: https://www.techsciresearch.com/
Founded: 2008
Headquarters: Noida
Specialties: Sectoral forecasting, feasibility studies, consulting
Notable Clients: Honda, Bosch, L&T
TechSci Research is a contemporary research company renowned for its data-rich analysis and futuristic reports. It provides solutions for market sizing, competitive benchmarking, and trend forecasting.
Their work spans infrastructure, chemicals, oil & gas, and education. TechSci helps Indian and international businesses identify profitable sectors, validate business ideas, and plan geographic expansions with confidence.
11. Future Market Insights
Website: https://www.futuremarketinsights.com/
Founded: 2014
Headquarters: Pune
Specialties: Market trend analysis, business consulting
Notable Clients: Unilever, GE, BASF
Future Market Insights (FMI) is a data-driven consultancy offering global and Indian market intelligence. It delivers in-depth research reports in sectors like technology, healthcare, energy, and packaging.
FMI is known for its agile research methods and detailed segmentation studies. Its advisory services help businesses identify emerging opportunities, customer behavior trends, and product development gaps. The company’s insights are frequently used by product teams and strategic planners.
12. IDC India
Website: https://www.idc.com/in
Founded: 1964 (Global), India branch active since 1996
Headquarters: Gurugram
Specialties: IT research, digital economy, emerging tech
Notable Clients: Microsoft, Infosys, IBM
IDC India focuses exclusively on the technology and IT sector, providing key insights into digital transformation, AI, cloud, and software services. Their research is widely used by CIOs, tech vendors, and IT buyers to track emerging tech and forecast spending trends.
IDC’s proprietary tools and advisory boards help businesses navigate tech disruptions and prepare digital strategies. Their India team provides region-specific data relevant to both startups and enterprise clients.
New-age tools redefining market research in India
AI in Consumer Behavior Analysis
- AI systems employ sentiment analysis together with buying behavior prediction as one of their functions.
- TechSci Research and Kantar use their analysis tools on reviews and calls and browsing data.
- Brands use the technology to make more rapid data-based choices for their business operations.
- The system displays effective operations when processing big collections of unorganized data.
- According to Deloitte (2024) 62% of Indian companies integrate AI tools as part of their research operations.
Emotion Recognition in Ads & UX
- Tracks user reactions to ads and products through facial coding and eye tracking.
- Used by companies like Majestic MRSS for ad testing and design feedback.
- Helps improve ad effectiveness and user experience.
- EY India (2023): Emotion-based testing boosts results by 35%.
Regional Customization: Bharat vs. India
- India’s market is diverse across regions and languages.
- “Bharat” covers Tier 2–4 cities with unique consumer behavior.
- Firms like Market Xcel and Hansa Research run campaigns in local languages.
- Regional strategies drive better engagement and product fit.
- KPMG: 55% of future market growth will come from smaller cities.
Conclusion
India’s market research industry is evolving rapidly. From AI-powered tools and emotion analytics to hyper-local strategies tailored for “Bharat,” modern research goes far beyond basic surveys. Companies are now investing in real-time, tech-enabled solutions that decode the ever-changing Indian consumer. Whether you’re a startup launching a new product or a multinational eyeing market expansion, partnering with a good research firm can make the difference between guessing and growing.
FAQs
1. Why hire a market research company in India?
To make data-driven decisions, understand customers better, and reduce business risks.
2. Are market research services costly?
Not always. Many firms offer plans starting around ₹25,000 for startups and SMEs.
3. Which industries use market research the most?
FMCG, retail, healthcare, edtech, and fintech rely heavily on market research.
4. How is data collected in Tier 2 and 3 cities?
Through local field teams, mobile surveys, and call interviews in regional languages.
5. What’s trending in market research now?
AI tools, emotion analytics, and regional deep dives are reshaping the industry.
