The growth of the insights and analytics industry in Spain
Posted: Sat Dec 14, 2024 8:18 am
The insights and analytics industry in Spain has seen notable growth in 2023 , reaching a turnover of 1,397.80 million euros , which represents an increase of 7.5% compared to the previous year. This increase positions the country as one of the most prominent economies in terms of turnover in the data sector, consolidating its position as the ninth largest economy in the world in this area.
In particular, established companies, which represent 41% of the total industry in Spain, have experienced a growth of 5.9% , a percentage higher than the European average (4%) and the phone number database free world average (4.6%). These companies are expected to continue this trend and close 2024 with an additional increase of 3.5% .
A market divided into three segments
The analysis of the data market in Spain reveals a clear segmentation into three main areas: established companies, technology companies and the reporting sector. Technology companies make up 20.5% of the total market share of the industry, while the remaining 39% corresponds to companies dedicated to the preparation of reports or reporting.
This last segment has gained prominence thanks to the strong presence of specialized consultancies in Spain, which promote the development of more advanced and personalized solutions for data interpretation. However, it is in the technological field where the greatest growth has been registered on the global stage, an indication of where the future of the industry is headed.
Industry growth insights analytics graph 1
Annual report prepared by Insights + Analytics for Spain and compiled by ESOMAR for the whole world (Global Market Research Report).
Global perspective: Spain versus the rest of the world
On a global level, the insights and analytics industry has also performed positively, with an estimated turnover of 142 billion dollars by 2023. This growth, adjusted for inflation, stands at 2.9% , with forecasts of an increase of 8.2% by 2024.
In particular, established companies, which represent 41% of the total industry in Spain, have experienced a growth of 5.9% , a percentage higher than the European average (4%) and the phone number database free world average (4.6%). These companies are expected to continue this trend and close 2024 with an additional increase of 3.5% .
A market divided into three segments
The analysis of the data market in Spain reveals a clear segmentation into three main areas: established companies, technology companies and the reporting sector. Technology companies make up 20.5% of the total market share of the industry, while the remaining 39% corresponds to companies dedicated to the preparation of reports or reporting.
This last segment has gained prominence thanks to the strong presence of specialized consultancies in Spain, which promote the development of more advanced and personalized solutions for data interpretation. However, it is in the technological field where the greatest growth has been registered on the global stage, an indication of where the future of the industry is headed.
Industry growth insights analytics graph 1
Annual report prepared by Insights + Analytics for Spain and compiled by ESOMAR for the whole world (Global Market Research Report).
Global perspective: Spain versus the rest of the world
On a global level, the insights and analytics industry has also performed positively, with an estimated turnover of 142 billion dollars by 2023. This growth, adjusted for inflation, stands at 2.9% , with forecasts of an increase of 8.2% by 2024.