Market Research Services in Illinois (IL)
Welcome to our comprehensive guide on Market Research services in Illinois (IL). As a leading digital B2B marketplace, we provide valuable insights and information to businesses looking to make informed decisions in the market research industry. In this article, we will explore the demography of Illinois, the business landscape, market research services globally and in Illinois, the market research services in the US, economic insights on the top cities in Illinois, and the pricing of market research services in the state.
Illinois Demography
Illinois is home to approximately 12,549,689 people, with an annual growth rate of -0.14%. The population over 18 years old is 9,788,757. These demographic factors contribute to the diverse consumer base and market opportunities in the state.
Illinois Business Landscape
Illinois boasts a thriving business landscape with a GDP of $1,092,246 million in 2023 and a growth rate of 9.3%. The corporate tax rate is 9.5%, making it an attractive destination for businesses. As of 2024, there are 410,791 registered businesses in Illinois, with a yearly change rate of 4.4%. These statistics highlight the dynamic and competitive nature of the business environment in the state.
Market Research Services Globally and in Illinois
The global market size of Market Research services is estimated to be $83,930,000, with a growth rate of 3.4%. The United States holds a significant share of approximately 60%, equivalent to $50,358,000. This indicates the importance of market research services in driving business strategies and decision-making processes.
In Illinois, market research services play a crucial role in helping businesses understand consumer behavior, market trends, and competitive landscapes. With a diverse population and a thriving business landscape, Illinois offers ample opportunities for market research agencies to provide valuable insights to businesses operating in the state.
Market Research Services in the US
Market research services are in high demand across the United States. Businesses rely on market research to gain a competitive edge, identify growth opportunities, and make data-driven decisions. The market research industry in the US is a key driver of economic growth and innovation.
Top Illinois Cities: Economic Insights
Several cities in Illinois contribute significantly to the state's economy. Here are some key economic insights on the top cities:
- Mchenry: Population of 308,060 people (2023), with an income per capita of $32,341.
- Peoria: Population of 187,117 people (2023), with an income per capita of $28,438.
- Madison: Population of 268,373 people (2023), with an income per capita of $27,407.
- Rock Island: Population of 147,477 people (2023), with an income per capita of $26,455.
- Macon: Population of 110,262 people (2023), with an income per capita of $26,232.
- Champaign: Population of 202,428 people (2023), with an income per capita of $25,713.
- Winnebago: Population of 293,384 people (2023), with an income per capita of $24,495.
- Kankakee: Population of 112,991 people (2023), with an income per capita of $23,779.
- Dekalb: Population of 104,820 people (2023), with an income per capita of $23,696.
Market Research Price in Illinois
According to Qualified.One statistics, the pricing of market research agencies in Illinois varies based on project budgets. Here is a breakdown of the budget distribution:
Budget Range | Percentage of Projects |
---|---|
Below $10,000 | 44.3% |
$10,000 - $50,000 | 25.5% |
$50,000 - $200,000 | 20.1% |
$200,000 - $1 million | 2% |
Above $1 million | 0% |
On average, the size of a market research project in Illinois is $49,745. These pricing insights provide businesses with an understanding of the market rates and budget allocation for market research services in the state.