Dimensions of world are evolving on daily basis, and market research trends have emerged abruptly in the 2020s. These advancements are like two-sided swords, which can equally provide you with the benefits and harms. In the 2020s, social media has paved the way for companies to reach out to their potential audience, and now companies can have a better insight into their customers. Meanwhile, there has been seen an upsurge in cybercrimes like privacy breaches of the customers. Keeping in view all these emerging advancements, there are some market research trends that may have a dominating effect in 2020s. Let’s discuss them here:
1- The emerging Video Analysis:
It is a strong feeling that video technology will be one of the most significant market research trends in the 2020s. This prediction has been promulgated by Stephen Scheeler, the ex CEO of Facebook Australia, and Chairperson of the Digital CEO. Therefore, keeping in view the market research trends of the past five to ten years, it is an entirely legitimate claim to put the video technology top on the list of market research trends. The data that has been collected reveals that 80% collection will be taken from the video. According to the survey of Fuel Cycle, 70% of the market researchers have a firm belief that video technology will be among the top market research trends in the 2020s.
Meanwhile, improvements in video technology can be inculcated by adding a more efficient analysis of video and camera. There are a lot of other improvements that can be instilled.
2- Voice Technology is about to cross milestone:
Our discussion will be incomplete without adding a promptly evolving market research trend, which is referred to as Voice technology. Voice recognition and speech markets are all set to touch the figure of $31.82 billion by 2025, which is quite astonishing. This dramatic shift is due to the frequent use of voice-enabled systems and voice-enabled virtual assistant system in different industries. Alexa is one of the glaring examples in this regard. Along with this, the study of Skim Agency recently claimed that 40% of people in the USA, UK, and Germany had ordered something at least one time via digital assistant in their smart speaker or mobile phones.
Moreover, people in third world countries have also shown their proclivity in adapting this fascinating technology. The recognition of voice through artificial intelligence in voice technology is a landmark achievement, and it has caused the inclusion of voice technology in the list of 2020’s market research trends.
3- Machine Learning and Artificial Intelligence
The 2020s will see a tremendous market research outsourcing India that will be revolving around machine learning and artificial intelligence. The risk factor has considerably reduced in business, as artificial intelligence devices indicate the trend of consumer towards your product in the future. The algorithm assists machine learning in gaining the data of consumers to predict the future of the market. In the near past, Salesforce acquired Datorama, which is an artificial intelligence platform, used machine learning to know about the intricate data trends, and the results were accurate up to 100%.
The research of Fuel Cycle indicates that 40% of people are dead sure that machine learning and artificial intelligence will be among the top market research trends of the 2020s.