Market Research Market Size Analysis: Saudi Arabia and Worldwide (2024-2029)

The market research industry is experiencing rapid growth both globally and locally within the Kingdom of Saudi Arabia. This article provides an analysis of the market research sector's size in the Kingdom, based on our estimates at Steady Pace Consultancy. It includes a range of indicators such as projected market size growth by 2029, the number of companies, average experience of research teams, and other demographic characteristics.

The Size of Market Research Industry in the Saudi and Global Markets

	Saudi Market	Global Market
Market Size in 2024	$350–400 million	$93 billion
Estimated Future Market Size by 2029	Expected annual growth rate of 10–15%	$130 billion
Source	Based on estimates by Steady Pace Consultancy	insights from multiple global sources

Note: The Saudi market shows high dynamism, supported by economic transformation and Vision 2030. 

Market Research Companies in Saudi Arabia 

According to estimates by Steady Pace Consultancy, there are 69 consulting firms operating in the Kingdom—33 of which are Saudi and 36 are Non Saudi. The figures presented in the table below reflect key indicators such as the experience levels of consulting teams and the age of the firms. On average, Global firms have been in operation for 57 years, compared to an average of 9 years for Saudi firms.

Indicator	Details
Total number of market research firms	69
Firms in Central Region	61
Firms in Western Region	8
Number of Saudi firms	33
Number of non-Saudi firms	36
Saudis in non-Saudi firms	No more than 15%
Saudis in Saudi firms	Not less than 70%
Employees in non-Saudi firms	7–12 employees
Employees in Saudi firms	6–88 employees
Average age of non-Saudi firms	57 years
Average age of Saudi firms	9 years
Avg. experience in non-Saudi firms	8–15 years
Avg. experience in Saudi firms	3–12 years
Industry Solutions	Market studies, consumer insights, brand research, customer experience, product testing, and mystery shopping.

In conclusion, local firms benefit from in-depth knowledge of the domestic landscape, while international firms draw on global expertise. As a result, the market research industry in both Saudi Arabia and globally shows strong growth potential. With the ongoing economic transformation, demand for market research services in Saudi Arabia is expected to rise significantly.