The Indian research and insights industry has reached a market size of Rs 29,008 crore in FY2025, as per the latest industry sizing report released by the Market Research Society of India (MRSI). The industry has grown 10.9% from Rs 26,300 crore in FY2024, reflecting steady expansion across analytics, custom research, and syndicated research services.
MRSI has released its annual report titled ‘The Indian Research and Insights Industry 2025 Update’, outlining the sector’s performance and near-term outlook. The report has indicated that the industry has continued to benefit from rising demand for data-driven decision-making, supported by India’s broader economic growth and increasing adoption of advanced analytics capabilities.
Analytics has remained the largest and fastest-growing segment, accounting for nearly 60% of the overall market in FY2025. The segment has grown 14% during the year, with more than 90% of demand coming from international clients. Growth has been driven by higher adoption of predictive modelling, customer lifetime value analysis, and econometric solutions, alongside the scaling up of digital platforms, cloud infrastructure, and AI-led analytics offerings.
Custom market research has recorded an 8% growth in FY2025, supported by increased demand for specialised consumer experience studies. Techniques such as facial coding, eye tracking, and emotional response measurement have gained wider adoption among brands seeking deeper behavioural insights.
Syndicated research has grown by 6% during the year, marking a modest recovery led by manufacturing-focused clients and greater outsourcing of research mandates to India-based captive centres. However, the segment has continued to face challenges in media measurement, particularly as traditional television metrics have come under pressure due to the rapid shift towards digital and streaming platforms.
The report has projected that the Indian research and insights industry is expected to grow to approximately Rs 32,500 crore in FY2026, translating into an estimated growth rate of 10–12%. Future growth has been attributed to increasing international mandates, deeper integration of AI-driven insight delivery, expansion of global companies’ captive centres in India, and rising domestic demand for hyperlocal and sector-specific insights across both large enterprises and SMEs.
“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.”
“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.”
