What Indochina Research does

Indochina Research (legal name Indochina Research Ltd., DBA "IRL") is a privately held, founder/management-owned market and social research firm founded in 1994 and operating across four Southeast Asian markets: Vietnam, Cambodia, Laos, and Myanmar. The firm sells custom, project-based research services to three primary buyer segments — multinational corporations entering or expanding in Indochina, NGOs/UN/international development organizations, and government agencies — with secondary demand from donors and sponsors funding regional development work. Its functional value proposition rests on localized field infrastructure (200+ field staff in Vietnam, 300+ in Laos, 50+ in Myanmar) and the cultural/linguistic capacity to run nationally representative surveys across diverse, partly remote populations.

The core offering spans eight research services (Hot Spot Surveys, Social Research, Retail Audit, Market Entry, Geo Information, Mystery Shopping, Social Listening, Design Thinking) delivered through both quantitative methods (nationwide surveys, CATI, tablet-based CAPI, online panels) and qualitative methods (focus groups, in-depth interviews, ethnography). These are supported by a set of country-specific proprietary research products that function as recurring syndicated/tracking studies: IRLBlast (online panel with nationally representative population management), IRLLight (quarterly Cambodia hotspot survey), IRL Life (annual Cambodia lifestyle/media tracking), and CATIBus (quarterly Lao study, 800 respondents per round). The underlying technology stack is a data-collection platform combining tablet-based survey systems, GIS mapping, and social listening rather than a software product; the company has no public API and no consumer/enterprise app.

The business model is professional services with quote-based, project-level pricing determined by methodology, sample size, geographic coverage, and deliverables; pricing is not publicly disclosed and some engagements run as multi-year contracts. Go-to-market is sales-led/relationship-based direct consulting through country offices (HQ in Ho Chi Minh City, regional HQs in Hanoi, Phnom Penh, Vientiane, and an office in Yangon), with no reseller or channel model. Revenue streams are Market Research Services (corporate consumer behavior, brand tracking, market entry), Social Research Services (M&E, impact assessments, KAP studies for NGOs/government), and Retail Audit/mystery shopping. The firm is a member of the WIN global research network (49+ countries), which extends reach and provides ICC/ESOMAR-aligned standards.

Name

Indochina Research

Legal name

Indochina Research Ltd.

Website

https://indochina-research.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

Indochina Research is a Southeast Asian market and social research firm founded in 1994, providing custom quantitative and qualitative studies, retail audits, and tracking surveys to multinationals, NGOs, and governments across Vietnam, Cambodia, Laos, and Myanmar.

Ownership category

akta.pro rank

Product category

Market Research Services

NAICS

Marketing Research and Public Opinion Polling (54191), Marketing Consulting Services (541613)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Market Research & Consumer Insights (BPAHALAA)

akta.pro secondary industries

Syndicated Market Research (Panels, Omnibus, Tracker Studies) (MPAAALAB), Competitive & Market Intelligence (Competitive Tracking, TAM/SAM/SOM) (MPAAALAL), Public Sector & Policy Consulting (BPAHACAN)

Keywords

• Market research services
• Consumer insights research
• Social research studies
• Retail audit services
• Mystery shopping programs

Headquarters

HQ city

Phnom Penh

HQ country

Cambodia

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Market Research Services: Quantitative and qualitative research projects for businesses and social organizations, including consumer behavior studies, brand tracking, and market entry research
2. Social Research Services: Research services for NGOs, government agencies, and international organizations including monitoring and evaluation, impact assessments, and KAP studies
3. Retail Audit: Retail audit and store check services including distribution system analysis and mystery shopping

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Indochina Research is a regional market research firm that designs and executes integrated market and social research projects for enterprise clients across Vietnam, Cambodia, Laos, and Myanmar. Its core offering bundles eight research service lines — Hot Spot Surveys, Social Research, Retail Audit, Market Entry, Geo Information, Mystery Shopping, Social Listening, and Design Thinking — delivered via quantitative (CATI, CAPI, online panel) and qualitative (focus groups, in-depth interviews, ethnography) methodologies. The company also sells proprietary syndicated tracking products (IRLLight, IRL Life, IRLBlast, CATIBus, Brand Equity Solution) and operates an in-house multilingual field force of more than 500 interviewers across the region.

Product overview

Indochina Research is a regional market research firm providing integrated research solutions across Vietnam, Cambodia, Laos, and Myanmar. The core offering comprises eight key research services: Hot Spot Surveys, Social Research, Retail Audit, Market Entry, Geo Information, Mystery Shopping, Social Listening, and Design Thinking. These are delivered through both quantitative and qualitative methodologies, supported by proprietary research tools including IRLBlast (online panel management), IRLLight (quarterly hotspot surveys in Cambodia), IRL Life (annual lifestyle tracking), and CATIBus (quarterly Lao market study). The company employs tablet-based CAPI data collection, GIS spatial mapping, and multi-language data collection capabilities, operating as a member of the WIN Association spanning 49+ countries.

Differentiator

Problem solved

Functional benefit

Brands

• IRLBlast: Online research panel in Cambodia for conducting surveys with nationally representative population
• IRLight
• IRL Life
• CATIBus
• Brand Equity Solution

Products and services

• Hot Spot Surveys
• Social Research
• Retail Audit
• Market Entry
• Geo Information
• Mystery Shopping
• Social Listening
• Design Thinking
• Quantitative Research
• Qualitative Research
• IRLLight
• IRL Life
• Brand Equity Solution
• IRLBlast
• CATIBus

Quantifiable outcome

• Serving 90+ leading brands and agencies across the region
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• WIN (World Independent Network of Market, Opinion and Social Research)coreStrategic or Co-development PartnerMember of WIN Association which includes 49+ countries, enabling Indochina Research to reach experts and conduct research globally. WIN provides international standards, research methodologies, and coordination for global market research projects.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• GMO Research: Asia-focused online market research and panel provider with operations across Japan and broader Asia. Comparable in online panel methodology and Asia-wide delivery model.
• TGM Research: Global market research firm with emerging-markets specialty, providing online panels and custom research across developing economies including SEA. Competes for similar online and cross-border research projects.
• Macromill: Japan-headquartered digital market research firm expanding into Southeast Asia with online panels and consumer insights. Comparable in online panel methodology and emerging-market focus.
• Intage: Japan-based market research and consulting group expanding across Asia. Comparable consumer insights and syndicated research offerings targeting enterprise clients.

Broad incumbents

• Ipsos Vietnam: Paris-based global market research firm operating across Southeast Asia including Vietnam. Provides market entry, brand health, and social research that overlaps with Indochina Research's portfolio.
• Nielsen Vietnam: Global market research leader with extensive Vietnam operations covering consumer panel, retail measurement, and media research. Competes for the same multinational client budgets across overlapping categories.
• Kantar Vietnam: Global research and consulting firm with strong presence in Vietnam and broader SEA, offering brand tracking, consumer panel, and analytics. Targets the same enterprise multinational client base.

Direct peers

• Decision Lab: Vietnam-based market research firm offering consumer insights, brand tracking, and custom research to enterprise clients in Vietnam and broader Indochina. Closest direct competitor to Indochina Research in terms of geography, client base, and service offering.
• Q&Me Vietnam Market Research: Vietnam-Japan market research firm specializing in consumer research and B2B surveys across Vietnam and Southeast Asia. Comparable in focus on Vietnam and similar quantitative methodology offerings.

Regional players

• M Research (Cambodia): Cambodia-focused market research firm serving similar multinational and NGO clients with consumer and social research in the Cambodian market. Direct overlap in Cambodia-specific engagements.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/IndochinaResearchCambodia
• LinkedInlinkedin.com/company/indochina-research-ltd-

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indochina Research