Launching a new product without knowing what customers want can lead to poor sales and wasted money. This is a real challenge in India, where buying habits differ across regions. According to the Ministry of Statistics and Programme Implementation (MoSPI), average monthly spending per person in 2023-24 was ₹4,122 in rural India and ₹6,996 in urban India. This difference shows why businesses need to understand their customers before launching a product. Market research companies help them do this through surveys, customer feedback, and data analysis.
In this blog, you will meet seven of the best market research companies in India. You will see what each one does well and how we chose them for your business.
Quick Answer:
Market research companies help businesses understand customer behaviour, market trends, competitors and buying preferences. Leading market research companies in India include Kantar, Investcon Market Intelligence, Ipsos, NielsenIQ, Hansa Research, TechSci Research and Mordor Intelligence. They offer services such as consumer surveys, brand research, industry reports, market forecasts and financial research to help businesses make informed decisions.
Key Takeaways
- The best market research companies in India include Kantar, Ipsos, NielsenIQ, Hansa Research, IMARC Group, Mordor Intelligence and TechSci Research. Each offers different research services and industry expertise.
- Kantar, Ipsos and NielsenIQ are suitable for large brands needing large-scale data and consumer insights. Hansa Research focuses on Indian consumer behaviour, while IMARC Group, Mordor Intelligence and TechSci Research provide industry reports and market analysis.
- AI tools, mobile-first surveys, regional-language research and live dashboards are making market research faster and more accessible. Businesses that adopt these developments can better understand customers and market trends.
What is a Market Research Company
A market research company helps businesses understand what customers want and how a market works. It collects information through customer surveys, interviews, group discussions, and industry data. It then studies this information to help businesses make better decisions.
For example, a company planning to launch a new skincare product may hire a market research firm to find out which ingredients customers prefer, how much they are willing to pay, and which brands they already use. The findings help the business decide what product to launch, where to sell it, and how to price it.
The Top 7 Market Research Companies in India
Here are 7 well-known names of the best market research companies in India. Each has its own style and strengths.
1. Kantar
Kantar is a global research and data company, and in India its roots go back to IMRB, one of the oldest research names in the country. It offers brand tracking, consumer studies, advertising tests, media research, and shopper insights, and it works with industries like FMCG, retail, telecom, media, and finance.
Services offered:
- Brand tracking and brand research
- Consumer behaviour studies
- Advertising and campaign testing
- Media and shopper research
- Customer experience research
Best For: Large businesses and established brands that need detailed consumer insights, brand tracking, and advertising research.
Pricing: Kantar offers different pricing models. Some Kantar Marketplace services have published starting prices, while others require a custom quote. For example, its BrandDynamics solution requires contacting the company for pricing.
2. Investcon Market Intelligence
Investcon Market Intelligence is a finance-focused research and content studio based in Lucknow, India. It helps fintech companies, financial brands, and investment businesses communicate complex financial information through clear, research-backed content.
Services offered:
- Financial content writing, including SEO blogs, articles, and website content
- Equity research reports
- Industry and market research reports
- White papers and customised reports
- Case studies and financial analysis
Best For: Fintech companies, financial service providers, investment platforms, and financial brands that need research-backed content to educate their target audience, build trust, and improve their online presence.
Pricing: Custom pricing based on the type of content, research requirements, and project scope. Businesses can contact Investcon for a quote.
3. Ipsos India
Ipsos is a global research company with a strong team in India. It is well known for opinion polls and public surveys on many topics. It offers consumer research, brand and ad studies, customer experience research, public opinion surveys, and healthcare research.
Services offered:
- Consumer and market research
- Brand and advertising research
- Customer experience studies
- Public opinion surveys
- Healthcare research
Best For: Businesses that need consumer surveys, public opinion studies, and research backed by global market experience.
Pricing: Custom pricing based on the type, size, and scope of the research project.
4. NielsenIQ India
NielsenIQ is famous for measuring what people buy in shops and online. It tracks sales and shopper habits on a very large scale. Its main services are retail measurement, shopper behavior studies, consumer panels, and market sizing, and it mostly serves FMCG, consumer goods, and retail.
Services offered:
- Retail measurement and sales tracking
- Shopper behaviour studies
- Consumer panel research
- Market share analysis
- Market sizing and distribution analysis
Best For: FMCG companies, retailers, and consumer goods brands that need sales data and insights into buying patterns.
Pricing: Custom pricing based on the data, coverage, and services required. Businesses can contact NielsenIQ for a quote.
5. Hansa Research Group
Hansa Research is an Indian research company based in Mumbai. It has worked with many leading brands for years. It offers custom surveys, brand studies, product testing, social research, and data collection across the country.
Services offered:
- Custom market research
- Brand and advertising studies
- Consumer surveys
- Product testing
- Social and public research
Best For: Indian businesses and brands that need customised research and insights into consumer behaviour across different regions.
Pricing: Project-based pricing. The cost depends on the research method, sample size, locations, and project requirements.
6. TechSci Research
TechSci Research is an India-based research and consulting company that serves businesses across different industries. It provides ready-made reports and customised research to support business planning and market analysis.
Services offered:
- Syndicated market research reports
- Custom research
- Market forecasts
- Competitor analysis
- Business advisory services
Best For: Small, medium, and large businesses that need industry reports, market forecasts, and competitor insights.
Pricing: Depends on the report and licence type. For example, one published tyre market report lists prices starting at $2,500 for a single-user electronic licence, $3,000 for CD-ROM delivery, and $5,000 for a multi-user electronic licence. Prices vary across reports.
7. Mordor Intelligence
Mordor Intelligence is a research firm with strong roots in India. It is known for its market reports and custom research. It provides industry reports, market forecasts, competitor analysis, and custom projects across technology, healthcare, food and drink, energy, and more.
Services offered:
- Industry and market research reports
- Market size and growth forecasts
- Competitor analysis
- Industry trend analysis
- Custom research services
Best For: Startups, consultants, investors, and businesses looking for industry data and market forecasts.
Pricing: Varies by report, access type, and research requirements. Contact the company for a quote.
Quick Comparison Table
Here is a quick comparison table of the research companies.
| Research companies | Core strength | Main services | Pricing |
| Kantar | Brand and media insights | Brand tracking, ad testing, shopper research | Custom quotation |
| Investcon Market Intelligence | Finance research and content | Financial research reports, industrial analysis, SEO content, white papers, case studies | Custom pricing based on project requirements |
| Ipsos India | Surveys and public opinion | Consumer research, customer experience | Custom quotation |
| NielsenIQ India | Retail sales idea | Sales tracking, consumer panel | Custom quotation |
| Hansa Research | Deep India research | Custom surveys, product insights | Project-based pricing |
| TechSci Research | Affordable reports | Syndicated and custom research | Varies by reports and license type |
| Mordor Intelligence | Market forecasts | Industry reports, custom research | Varies by reports and license type |
How We Selected These Companies
Choosing the best market research companies in India was not about picking famous names. We wanted firms that give real value to real businesses. So we looked at six simple things.
- Experience and trust: A company that has been in the game for years has seen many markets, many problems, and many solutions. We looked at how long each firm has worked in India and how much businesses trust it. Strong experience usually means steady and reliable results.
- Range of services: Every business has different needs. Some need a quick survey. Others need deep interviews or ready-made industry reports. We chose firms that offer a good mix of services, so you can find the right fit in one place.
- Knowledge of your industry: A firm that understands your field gives better answers. We looked at the sectors each company serves, such as FMCG, healthcare, technology, finance, and manufacturing. This helps you find a partner who already speaks your business language.
- Tools and technology: Presently, a good research requires smarter tools. We checked if the firms use modern methods like online panels, mobile surveys, and data analysis tools. These help deliver faster and more accurate results.
- Past work: Results matter more than promises. We looked at each firm’s case studies, client list, and public reputation. A strong track record shows that the company can deliver what it says.
Why Market Research Matters for Businesses in India
Before digging into the list, let’s see why this work is so useful.
- You learn what people really want: Customers in a metro city think and spend differently from customers in a small town. Research shows you these gaps. A product that sells well in Mumbai may not work in Jorhat. Research tells you why, and what to change.
- You lower the risk of launching something new: A new product, a new price, or a new city is a big bet. Research lets you test the idea with a small group first. It is much cheaper to find a problem early than after a full launch.
- You keep an eye on your rivals: Always be aware of your surroundings and keep questions such as: What are your competitors charging? What do their customers like or hate? Good research answers these questions so you can find a gap and fill it.
- You spot new chances to grow: India’s market keeps on changing, such as digital payments, online shopping, and rural demand are rising fast. Research helps you see these shifts early and move before others do.
- You make better use of your money: When you know who your buyers are and where they spend time, your ads and sales efforts hit the right target. Less waste, more profit.
How to Choose The Right Market Research Partner
Picking a research firm is a big step. The right partner can save you money and show you the way forward. The wrong one can waste both your time and your budget. Here is a simple way to choose well.
- Know your goal first: Start by being clear about what you want to learn. You may want to test a new product, understand your buyers, or study a new city. A clear goal works like a map. It keeps the project on track and saves a lot of time and money.
- Set your budget: Decide on the amount you are able to spend before you talk to any firm. Then share it openly. A good firm will not try to sell you the biggest package. It will build the best plan that fits your range.
- Check their experience in your industry: A firm that already knows your field will understand your customers faster. It will ask sharper questions and give answers that make sense for your business. Look for past work in the same sector as yours.
- Ask for samples and references: It is easy to write words on a website, but the real work is more difficult to fake. You can ask to see a sample report, and speak to a few past clients if you can. This gives you a true picture of the firm’s quality.
- Understand how they collect data: Some firms talk to people directly through surveys and interviews. This is called primary research. Others use data that already exists, such as reports and public records. This is called secondary research. Many of the best market research companies use a mix of both methods to get a better understanding of the market and provide more reliable insights.
- Look at data quality and privacy: Good research depends on honest and clean data. A trusted firm follows ethical rules and keeps personal details safe. In India, it must also follow the DPDP Act, which is the country’s data protection law. Ask the firm how it protects the information it collects.
Trends Shaping Market Research in India
Market research in India is changing fast. New tools, new habits, and new customers are shaping how businesses learn about people. Here are the six biggest trends to watch.
- AI automation: Smart tools can now go through huge piles of data in minutes. Work that once took weeks can be done in days. This makes research faster, and often cheaper too. It also helps researchers spot patterns that people might miss.
- Mobile-first surveys: Most Indians use a smartphone every day. So research has moved to the phone. According to TRAI, India had 939.51 million wireless data subscribers in March 2025. This growing digital reach allows research firms to conduct online surveys, collect responses, and reach people across different locations more easily.
- Research in local languages: India speaks many languages, and people feel most comfortable on their own. According to the IAMAI-Kantar Internet in India 2024 report, 870 million internet users (98% of internet users) accessed the internet in Indic languages. This makes regional-language surveys important for understanding customer opinions across India.
- Real-time insights: Waiting weeks for a report is slowly becoming a thing of the past. Many firms now offer live dashboards that update as new data comes in. Businesses can see what is happening right now and act quickly.
Conclusion
India is a big, busy, and colorful market. To win here, a good idea is not enough. You also need to understand the people you want to serve.
The best market research companies in India offer different strengths. Kantar, Ipsos, and NielsenIQ help brands understand consumers, track sales, and measure brand performance. Hansa Research focuses on Indian consumers, while IMARC Group, Mordor Intelligence, and TechSci Research provide industry reports and market forecasts.
Investcon Market Intelligence is particularly for fintech companies and financial brands. As a financial research and content studio, it helps businesses turn complex financial information into clear, useful content through research, industry analysis, SEO-optimised blog posts, reports, and white papers.
Great decisions start with great information. So pick your partner wisely, let the facts guide you, and make your next big move with confidence.
FAQs
Q: What is the cost of market research in India?
Ans: The cost depends on the type and size of the project. A ready-made industry report can cost from a few thousand rupees to a few lakhs. A custom study with surveys in many cities can cost much more. Always ask for a clear quote before you begin.
Q: What is the difference between primary and secondary market research?
Ans: Primary research means collecting fresh information yourself, through surveys, interviews, or group talks. Secondary research means using data that already exists, such as reports, articles, and government numbers. Primary research gives answers made just for you. Secondary research is faster and cheaper.
Q: How long does a typical market research project take?
Ans: A simple online survey can take two to four weeks. A bigger study with interviews in many places can take two to three months or more. Ready-made reports can often be delivered right away.
Q: Which industries benefit most from market research?
Ans: Almost every industry can gain from it. But it helps most in fields where customer tastes change quickly, such as FMCG, retail, technology, healthcare, finance, automobiles, and e-commerce.
Q: Can small businesses and startups afford market research firms?
Ans: Yes, they can. You do not need a huge budget. Many firms offer low-cost reports, small custom studies, and flexible plans. You can also start with free tools like online surveys and social media polls, then move to a research firm as your business grows.
Lakshmi Sundari is a finance content writer and editor with over four years of experience across financial content and content strategy. She holds an MBA in Finance and writes on investing, personal finance and fixed-income markets. Her work spans long-form articles, PR, thought leadership, newsletters and social media, along with editorial planning and content strategy. She focuses on explaining financial developments and investment concepts through research-backed, practical writing.
