Understanding your market and customers is no longer a luxury — it’s a necessity. In 2024, the Indian market research industry reached a whopping $3.2 billion, growing at a strong 12.6% year-on-year, according to the Market Research Society of India (MRSI). As more businesses turn to data to guide their decisions, the demand for high-quality research services is skyrocketing. In fact, 58% of this industry is now driven by customer and marketing analytics, highlighting how essential deep consumer insights have become for staying competitive.
Whether you’re a startup aiming to launch your first product or a large corporation exploring new markets, partnering with a trusted research company can save time, reduce risk, and drive better outcomes. These firms use tools like surveys, focus groups, AI-powered analytics, and social listening to give you the full picture of what your customers want.
In this article, we’ll explore the top 10 best market research companies in India — known for their experience, innovation, and ability to turn complex data into clear business strategies. From traditional research to cutting-edge analytics, these firms are helping brands thrive in an increasingly competitive marketplace.
Key Benefits of Hiring a Market Research Company
- Informed Decision-Making: Helps businesses make smarter choices based on real data rather than assumptions.
- Understanding Customer Needs: Provides deep insights into what customers want, expect, and prefer.
- Competitive Advantage: Tracks market trends and competitor strategies to help you stay ahead.
- Reduced Business Risk: Minimizes the chances of product failure by validating ideas before launch.
- Customized Strategies: Allows you to tailor your marketing, pricing, and product plans to the right audience.
Latest Trends in Market Research You Should Know
- AI and Machine Learning: Companies are using AI to predict trends, customer behavior, and automate insights.
- Mobile-First Surveys: Research is increasingly being conducted via mobile platforms to reach wider audiences.
- Social Listening Tools: Brands are now tracking conversations and sentiment on social media in real-time.
- Data Visualization: Insights are presented with interactive dashboards and infographics for better understanding.
- Behavioral Analytics: More firms are focusing on how users act, not just what they say, for deeper insights.
Top 10 Best Market Research Companies in India
1. Bare International India
Bare International stands out from other Indian market research firms because it delivers customer experience research and mystery shopping services. Utilizing advanced market research tools, Bare International operates from its U.S. headquarters but generates substantial insights in India for brand improvements in service quality, compliance, and customer satisfaction. The company focuses on serving the hospitality industry alongside banking, retail, automotive, and luxury goods businesses because of their dependency on customer experience delivery. The organization operates through worldwide trained mystery shopper networks along with technological platforms which provide real-time customer interaction data.
Indian companies use Bare International solutions because they want to achieve better alignment between promises made to customers and the service they receive in reality. Bare International goes beyond reporting to offer services that include performance benchmarks as well as training suggestions and standard operating procedure checking and compliance. The main advantage of Bare International is their real-time ground-level feedback system that enables businesses to produce quick results. The rising number of clients in India is turning Bare International into an essential experience-driven sector solution provider.
Services Provided:
- Mystery Shopping
- Customer Satisfaction Surveys
- Brand Standard Audits
- Competitor Benchmarking
- Compliance and SOP Audits
Website: https://www.bareinternational.com/
2. ValueNotes Strategic Intelligence
A market and competitive intelligence company with headquarters in Pune, ValueNotes provides specialist research services that go beyond typical consumer insights. Strategic consultancy, competitive benchmarking, and B2B market intelligence are the company’s most well-known offerings. It mainly serves industries including technology, BFSI, healthcare, education, and industrial goods.
ValueNotes stands apart due to its solid research-driven strategy base. In order to deliver comprehensive insights, the firm incorporates secondary research, expert interviews, industry benchmarking, and data modeling in addition to fieldwork. Their reports are frequently utilized for partner evaluation, investment planning, and market entry tactics.
Services Provided:
- Market Intelligence & Sizing
- Competitive Benchmarking
- Customer Experience Research
- Investment and M&A Research
- Channel Partner Evaluation
Website: https://www.valuenotes.biz/
3. Market Xcel Data Matrix
Market Xcel Data Matrix is a fast-growing market research and data analytics firm headquartered in New Delhi. With a focus on delivering decision-support solutions, Market Xcel has gained significant recognition for its commitment to quality, timeliness, and customization. It operates through a network of field offices across India, making it uniquely equipped to conduct primary research even in Tier 2 and Tier 3 cities. The company supports both national and international clients in gaining accurate and contextual insights into Indian consumer behavior and market dynamics.
One of Market Xcel’s biggest differentiators is its agility. Unlike larger firms that may require lengthy processes, Market Xcel is known for its ability to provide quick and actionable insights without compromising on depth or data quality. From idea validation to feasibility studies, Market Xcel supports businesses through the entire product and brand lifecycle. Their robust infrastructure, experienced team, and in-house analytics capability make them a dependable partner for both SMEs and large enterprises.
Services Provided:
- Consumer Research & Segmentation
- Concept and Product Testing
- Brand & Advertising Research
- Employee and Customer Satisfaction
- Usage and Attitude Studies
Website: https://www.market-xcel.com/
4. Kantar
TNS India, formerly an independent giant, is now integrated into the global Kantar network, following the merger with other WPP research brands. In the past, TNS was renowned for its comprehensive market research, trend monitoring, and consumer insight initiatives in a number of industries.
While utilizing Kantar’s worldwide knowledge base, the India division of Kantar TNS nevertheless maintains a large portion of its legacy expertise. This implies that clients gain from TNS’s in-depth knowledge of Indian consumers as well as cutting-edge technologies and international best practices. Its research solutions are designed to support brand expansion in a cutthroat market, particularly by providing insights into consumer behavior, media consumption, new trends, and innovation prospects.
Services Provided:
- Consumer & Shopper Research
- Market Segmentation
- Innovation and Concept Testing
- Brand Equity and Communication Research
- Usage and Attitude Studies
Website: https://www.kantar.com/india
5. Blueocean Market Intelligence
Blueocean Market Intelligence functions as a worldwide player in analytics and insights by delivering exceptional expertise in uniting standard market research approaches with data analytics methods and AI Data Analytics Tools. The organization maintains its primary operations across India. Blueocean Market Intelligence has its headquarters in Hyderabad where it uses consumer intelligence combined with data science to offer complete customer views through integrated research methodologies. The customer base of Blueocean encompasses healthcare together with financial services and technology and CPG and retail.
Blueocean stands out through its adoption of a system that unites artificial and human cognitive capabilities. Through their proprietary tool 360 Compass clients gain complete customer insights by unifying social media insights with client database analytics and market research findings as well as transaction and survey data under one platform. The integration enables customers to achieve decisions that are precise and quick in response to current market trends.
Services Provided:
- Customer Analytics & Segmentation
- Brand Performance Tracking
- Digital & Social Media Listening
- Business Intelligence & Data Visualization
- Market Landscape and Competitive Analysis
Website: https://www.blueoceanmi.com/
6. Majestic MRSS
One of India’s top independent full-service market research companies, Majestic MRSS (Market Research Support Services) operates in 18 countries in Asia-Pacific, the Middle East, and Africa. Since its founding in 1992, the business has established a solid reputation for creativity, quickness, and customer-focused service. It is particularly renowned for having embraced digital and technology methods such as online panel research, eye tracking, facial coding, and neuromarketing early on.
Healthcare, automotive, BFSI, media, and consumer goods are among the industries in which Majestic MRSS focuses. They prioritize practical results and provide specialized research solutions based on the demands of their clients. Global brands have successfully entered and expanded their markets in India thanks to their ability to function effortlessly across borders and cultural differences.
Services Provided:
- Qualitative & Quantitative Research
- Neuromarketing and Eye Tracking
- Product Testing & Innovation Research
- Brand Health and Concept Testing
- Online Panels and Telephonic Surveys
Website: https://www.majesticmrss.com/
7. Hansa Research
Hansa Research stands out as one of the limited Indian market research firms which succeed in international and domestic markets. The year 1983 founded Hansa Research as it evolved into a firm that provides customized research solutions along with high-quality actionable insights. Hansa Research conducts its operations spanning 15+ countries and establishes business relationships with both brands from the private sector and institutions from the public sector. Hansa Research has solidified itself in the market by delivering accurate data while maintaining strategic transparency and transparency particularly in media measurement and brand analytics.
Hansa Research operates as the organization that developed IRS (Indian Readership Survey) a trusted and reliable media measurement platform in India. The organization delivers full-cycle services starting from research planning to field investigation as well as analytics development and strategic design services. The organization applies quantitative measurements with qualitative research methodologies to uncover valuable insights that move past standard survey findings. The company applies AI tools and predictive analytics and machine learning to provide business intelligence services in retail and telecom and entertainment and finance sectors.
Services Provided:
- Brand and Ad Tracking
- Market Entry & Feasibility Studies
- Media & Communication Research
- Public Policy & Social Research
- Usage & Attitude Studies
Website: https://www.hansaresearch.com/
8. Ipsos India
As a member of the international Ipsos Group, which has its headquarters in Paris, Ipsos India has quickly expanded to rank among the most reputable market research companies in the nation. Ipsos, which is well-known for its data-driven and scientific approach, introduces international techniques to regional Indian markets. It serves a wide range of customers from industries like retail, FMCG, healthcare, automotive, and finance, among others.
In addition to standard market research, Ipsos India specializes in behavioral science, opinion polling, brand health monitoring, and customer experience research. Their “Censydiam” paradigm has had a significant influence on our understanding of the emotional and cultural aspects of conduct. Ipsos provides strategic insights that impact business and policy decisions, whether it is through conducting political surveys or assisting businesses in gauging customer sentiment.
Services Provided:
- Brand Health Tracking
- Social and Opinion Research
- Customer and Employee Experience
- Behavioral and Motivational Studies
- Healthcare Market Research
Website: https://www.ipsos.com/en-in
9. Nielsen India
Nielsen is one of the most recognized and trusted names in the market research industry worldwide, and its Indian operations are no exception. With a legacy spanning several decades, Nielsen India has played a crucial role in transforming how businesses understand consumers, markets, and media trends. The company combines advanced data science methodologies with deep industry expertise, delivering reliable insights that help brands make informed strategic decisions.
In India, Nielsen is known for its extensive data collection capabilities and robust fieldwork infrastructure, allowing it to serve both urban and rural markets. Its reports on consumer behavior, brand performance, and market dynamics are frequently used by FMCG giants, advertising agencies, and media companies. Moreover, Nielsen India has been at the forefront of leveraging technology for real-time insights, including AI-powered analytics and predictive modeling.
Services Provided:
- Retail & Consumer Measurement
- Media Planning and Buying Insights
- Advertising Effectiveness
- Market Segmentation & Product Testing
- Digital Audience Measurement
Website: https://www.nielsen.com/in/
10. Cross-Tab (Now part of Course5 Intelligence)
Cross-Tab continues its operations as Course5 Intelligence which operates from Mumbai and Bangalore as a globally known analytics and market research organization. This organization achieved widespread recognition through its ability to use advanced analytics and artificial intelligence as well as digital research for innovative consumer intelligence. That historic transformation into Course5 now enables the company to combine classical market research practices with modern digital intelligence approaches. The company serves Fortune 500 clients across technology telecom media and retail and healthcare sectors thus emerging as a leading advanced market research provider in India.
The primary mission of Course5 Intelligence remains to achieve business results by providing instant decision support. The company showcases two proprietary analytical tools named Course5 Discovery and Course5 Compete that deliver marketing and product development and customer experience insight by using AI technology. Through automated operations and digital data practices the company enables customers to access intelligence which is both fast and accurate while representing the future state. The tools and insights at Course5 enable startups to identify their market niches while large enterprises can use them to enhance customer engagement resulting in leadership in data-driven environments.
Services Provided:
- Digital Market Research & Analytics
- Customer & Brand Insights
- Competitive Intelligence
- Product & Innovation Research
- AI-Powered Business Decision Support
Website: https://www.course5i.com/
Conclusion
In conclusion, selecting the best market research firm can have a significant impact on the expansion of your company. Top Market Research Companies in India assist you in understanding consumer preferences, brand performance, and industry trends. Market research provides you with the information you need to make informed decisions, whether you’re seeking to outperform your competitors, launch a new product, or enter a new market.
Finding the ideal partner for your needs is now simpler than ever thanks to the abundance of trustworthy research companies in India that provide both traditional and digital research services. Always seek for a business that offers not only data but also actual commercial value, and that meets your objectives, sector, and budget.
FAQ
1. How do market research companies collect data?
They use various methods like surveys, interviews, focus groups, mystery shopping, social media analysis, and online tracking. Some also use advanced technologies like AI and big data tools.
2. Can small businesses afford market research services?
Yes, many research firms offer flexible packages that suit small and medium-sized businesses. Some even provide tailored solutions based on your specific goals and budget.
3. What’s the difference between qualitative and quantitative research?
Qualitative research focuses on understanding opinions and reasons (like through interviews and focus groups), while quantitative research deals with numbers and statistics (like online surveys and polls).
