Key Findings from ESOMAR CEO Industry Insights Report 2024
The 2024 ESOMAR CEO Industry Insights Report has highlighted some fascinating trends and concerns in the world of market research and analytics. With input from 401 industry leaders, the report highlights areas of focus for businesses, and how to get ahead of the competition in 2025.
The top 5 concerns amongst leaders
One of the standout findings is the increasing concern around revenue growth, which has jumped to 61% from last year. CEOs are clearly prioritising financial performance, a sentiment that’s understandable given the economic challenges many have faced. Interestingly, while retaining and recruiting talent remains a significant concern, it’s now at 35%, indicating a slight ease compared to previous years.
Rising on the list of concerns is the implementation of AI, now at 31%. This highlights a growing recognition of AI’s potential to revolutionise operations and efficiency. On a more positive note, economic uncertainty has dropped significantly as a concern, down to 29% from 42% last year, suggesting a more optimistic outlook among industry leaders.
Areas of growth
When it comes to growth areas, there are several key trends. Virtual qualitative research, which involves conducting qualitative methods like interviews and focus groups online, is seeing substantial growth at 52%. Online quantitative research, which includes surveys and other quantitative methods conducted online, is also on the rise at 48%. Emerging technologies are making a significant impact, with 56% of CEOs identifying this as a key growth area. AI continues to be a focal point at 45%, along with analytics at 36%, and text and sentiment analysis at 25%.
Revenue growth and the impact of technology
An optimistic 61% of CEOs expect revenue to increase in the coming year. Interestingly, 37% of these leaders believe they can achieve this growth without expanding their workforce. This confidence likely stems from the increased use of advanced technologies and AI, which can enhance efficiency and productivity at a lower cost.
AI investment is primarily focused on areas like data analysis, operational efficiencies, enhanced reporting and insights, and automated data collection. Over the next 12 months, 71% of companies plan to leverage existing technologies for AI integration, 43% will build AI capabilities internally, and 42% will partner with AI specialists.
Notably, companies already utilising AI have reported a stronger revenue increase of 4.5%, compared to a 2.5% increase for those not using AI. This amplifies the benefits of AI integration in driving growth.
How to succeed in 2025
There are a number of things companies can do to ensure success in the coming year.
- Investing in AI can drive significant efficiencies and open new growth opportunities. Start by identifying areas where AI can have the most immediate impact, such as data analysis and operational processes.
- Focus on talent retention and recruitment. Although the concern has decreased, it’s still important to develop or improve retention programs. ENI can support you in attracting top-tier talent in insights and analytics.
- Optimise virtual and online research methods, including text and sentiment analysis. With these areas on the rise, ensuring your company is equipped to conduct and leverage these methods effectively will help you reach a broader audience and collect more diverse data.
For more detailed insights, we recommend reviewing the full 2024 ESOMAR CEO Industry Insights Report.
Source: ESOMAR CEO Industry Insights Report 2024
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