Airport Cabin Baggage Scanner Market

Airport Cabin Baggage Scanner Market Size by Scanner Type (3D, and 2D), Component (Software, Hardware, and Services (Installation & maintenance, Consulting)) Airport Type (Cargo Service Airport, Commercial Service Airports, And General Aviation Airports), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13331
  • Published Date: Mar, 2023
  • Pages: 236
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global airport cabin baggage scanner market was valued at USD 2.9 billion in 2022 and growing at a CAGR of 6.90% from 2023 to 2032. The market is expected to reach USD 5.6 billion by 2032. A screening system also called an airport cabin baggage scanner, is constantly used to bring out typical operations, like investigating the bags and monitoring them via electronic devices. In airports, the luggage is scanned using these technologies before moving it to the airplane. Due to the safety concerns in densely packed airports, scanner systems have achieved much awareness worldwide.

Market Introduction:

The baggage scanners are security inspection equipment for parcels, handbags, briefcases, baggage, etc., used in airports. Baggage scanner and parcel scanner comes in different sizes for X-Ray Screening at commercial and government facilities, the best x-ray baggage scanner in the world with a warranty for all machines. Airport scanners can see clear images of the luggage, like non-metallic and metallic objects and organic materials. Even though the technology behind scanners is very complicated, scanning the body and suitcase is quite simple. Once the luggage is inside, the scanner releases X-rays that pass via the bag, calculating the contents' mass and density. The scanners can see the density and mass of every packed thing, but they cannot always establish the objects. Security will look through the bag to see if the luggage contains things that evoke suspicions. To avoid this, inspecting the regulations and rules of the airline flight is important. However, technically, airport security scanners do not detect drugs but can provide visual clues of drugs hidden under clothes and in baggage. Even if the scanners cannot determine the exact composition, they can tell if an object is organic or metallic or how low or high density an object have. Organic materials like food, drugs, explosives, or paper are marked with orange. Passengers suspected of swallowing drugs are scanned with a complete body X-ray machine that can detect if the person’s stomach contains the package. The x-ray scanner will always catch money. Airport scanners can detect even the least amount of metal and notice paper. The scanners will always look for things that are other than the norms. If the currency is placed in bundles, it will be more easily caught. Lastly, airport scanners can catch anything that is not part of the human anatomy and spot things concealed under clothes and layers.

Airport Cabin Baggage Scanner Market Size

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Recent Development

In May 2022: The Ministry of Transportation and Communications, Astrophysics, Inc. joined into an agreement with BARMM- Port's security equipment for the supply, delivery, installation, and commissioning of brand-new baggage x-ray machines and walk-through metal detectors with brand new generator sets.

In June 2021, Leidos teamed with the Transportation Security Administration (TSA) to deliver checkpoint screening equipment deployment services. The company will install, manage, modify, and relocate passenger screening equipment at security checkpoints incorporating imaging technology and metal detectors as per the partnership.

Market Dynamics:

Drivers

High Sensitivity- X-Ray baggage scanner has gained wide use due to their relatively high sensitivity to catch the presence of materials enclosed in non-transparent coverings. The X-Ray baggage scanner will come in handy when security surveillance is required, like in terminal buildings for passengers (in airports, train stations, seaports, etc.). Some government establishments or companies with high-security threats also run their use.

Restraints:

High Cost-The high prices associated with the screening systems hinder market growth. Their increased installation prices, followed by their regular maintenance and upgraded platforms, limit the market growth over the projection years. The market is emerging as highly competitive, with all the players competing to achieve significant market share. The global market vendors compete on different elements, like product quality, cost, and additional features like trustworthiness and after-service support.

Opportunities:

Time-Saving Machines: These machines save an excellent deal of time, and to know how a particular time is when people are late for a flight or an all-important meeting. Rather than security officials individually searching every bag, these machines fast scan bags for banned items. These machines, therefore, quicken up security checks and reduce long queues. Moreover, they lower the risk of human error since every bag is scanned with high-end technology rather than just the human eye.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the largest market for the global airport cabin baggage scanner market, with a 35.8% share of the market revenue in 2022.

APAC region dominated the global airport cabin baggage scanner market in 2022, with the biggest market in the region due to improved expenses in infrastructure advancements; the Asia Pacific market now accounts for 25% of the global revenue, which is the most significant market share. In expansion, by incorporating advanced technologies like automated lanes, and biometrics, airport officials focus on improving security standards and facility efficiency.

Asia Pacific Region Airport Cabin Baggage Scanner Market Share in 2022-35.8%

 

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Scanner Type Segment Analysis

The scanner type segment is divided into 3D, and 2D. The 3D segment dominated the market, with a market share of around 58% in 2022. Due to its improved operational efficacy and security management, the 3D (Computed Tomography) segment is expected to rise over the projection period. The aviation segment is executing advanced scanning technologies that stick to the directives of the European Civil Aviation Conference to detect banned goods virtually.

Component Segment Analysis

The component segment is divided into software, hardware, and services (Installation & maintenance, consulting). The hardware segment dominated the market, with a market share of around 37% in 2022. To enhance services for airline consumers and control long passenger lines at airports, the national government is now working on important initiatives to improve the hardware and infrastructure of existing airports.

Airport Type Segment Analysis

The airport type segment is divided into cargo service airport, commercial service airports, and general aviation airports. The commercial service airports segment dominated the market, with a market share of around 39% in 2022. Due to the upgrade in passenger traffic and travel, the commercial service airports segment is showing the industry with the most significant market share. Owing to these elements, the aviation industry has been pushed to execute airport cabin baggage scanners that provide real-time and advanced analysis of unsafe materials and suspect baggage.

Some of the Key Market Players:
  • Smith’s Detection
  • Rapiscan Systems
  • L3 Security & Detection Systems
  • Glidepath Group
  • Gilardoni S.p.A.
  • E.I.A. S.p.A.
  • Astrophysics Inc.
  • Analogic Corporation

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 2.9 Billion
Market size value in 2032 USD 5.6 Billion
CAGR (2023 to 2032) 6.90%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Scanner Type, Component, Airport Type

Frequesntly Asked Questions

As per The Brainy Insights, the size of the airport cabin baggage scanner market was valued at USD 2.9 billion in 2022 to USD 5.6 billion by 2032.

Global airport cabin baggage scanner market is growing at a CAGR of 6.90% during the forecast period 2023-2032.

Asia Pacific region emerged as the largest market for the airport cabin baggage scanner market.

Time-saving machines will provide huge opportunities to the market.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Scanner Type
          4.3.2. Market Attractiveness Analysis by Component
          4.3.3. Market Attractiveness Analysis by Airport Type
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. High sensitivity
    5.3. Restraints
          5.3.1. High cost
    5.4. Opportunities
          5.4.1. Time-saving machines are pushing market growth

6. Global Airport Cabin Baggage Scanner Market Analysis and Forecast, By Scanner Type:
    6.1. Segment Overview
    6.2. 3D
    6.3. 2D

7. Global Airport Cabin Baggage Scanner Market Analysis and Forecast, By Component
    7.1. Segment Overview
    7.2. Software
    7.3. Hardware
    7.4. Services
          7.4.1. Installation & maintenance
          7.4.2. Consulting

8. Global Airport Cabin Baggage Scanner Market Analysis and Forecast, By Airport Type
    8.1. Segment Overview
    8.2. Cargo Service Airport
    8.3. Commercial Service Airports
    8.4. General Aviation Airports

9. Global Airport Cabin Baggage Scanner Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Airport Cabin Baggage Scanner Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Airport Cabin Baggage Scanner Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Smith’s Detection
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Rapiscan Systems.
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. L3 Security & Detection Systems
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Glidepath Group.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Gilardoni S.p.A.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. E.I.A. S.p.A.
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Astrophysics Inc.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Analogic Corporation
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
 

List of Table

1. Global Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

2. Global 3D Airport Cabin Baggage Scanner Market, By Region, 2019-2032 (USD Billion) 

3. Global 2D Airport Cabin Baggage Scanner Market, By Region, 2019-2032 (USD Billion) 

4. Global Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

5. Global Software Airport Cabin Baggage Scanner Market, By Region, 2019-2032 (USD Billion) 

6. Global Hardware Airport Cabin Baggage Scanner Market, By Region, 2019-2032 (USD Billion) 

7. Global Services Airport Cabin Baggage Scanner Market, By Region, 2019-2032 (USD Billion)

8. Global Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

9. Global Cargo Service Airport Airport Cabin Baggage Scanner Market, By Region, 2019-2032 (USD Billion) 

10. Global Commercial Service Airports Airport Cabin Baggage Scanner Market, By Region, 2019-2032 (USD Billion) 

11. Global General Aviation Airports Airport Cabin Baggage Scanner Market, By Region, 2019-2032 (USD Billion) 

12. North America Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

13. North America Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

14. North America Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

15. U.S. Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

16. U.S. Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

17. U.S. Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

18. Canada Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

19. Canada Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

20. Canada Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

21. Mexico Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

22. Mexico Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

23. Mexico Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

24. Europe Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

25. Europe Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

26. Europe Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

27. Germany Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

28. Germany Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

29. Germany Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

30. France Airport Cabin Baggage Scanner Market, By Scanner Type 2019-2032 (USD Billion) 

31. France Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

32. France Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

33. U.K. Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

34. U.K. Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

35. U.K. Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

36. Italy Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

37. Italy Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

38. Italy Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

39. Spain Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

40. Spain Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

41. Spain Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

42. Asia Pacific Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

43. Asia Pacific Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

44. Asia Pacific Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

45. Japan Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

46. Japan Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

47. Japan Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

48. China Airport Cabin Baggage Scanner Market, By Scanner Type 2019-2032 (USD Billion) 

49. China Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

50. China Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

51. India Airport Cabin Baggage Scanner Market, By Scanner Type 2019-2032 (USD Billion) 

52. India Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

53. India Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

54. South America Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

55. South America Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

56. South America Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion)

57. Brazil Airport Cabin Baggage Scanner Market, By Scanner Type 2019-2032 (USD Billion) 

58. Brazil Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

59. Brazil Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

60. Middle East and Africa Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

61. Middle East and Africa Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

62. Middle East and Africa Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

63. UAE Airport Cabin Baggage Scanner Market, By Scanner Type, 2019-2032 (USD Billion) 

64. UAE Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

65. UAE Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion) 

66. South Africa Airport Cabin Baggage Scanner Market, By Scanner Type 2019-2032 (USD Billion) 

67. South Africa Airport Cabin Baggage Scanner Market, By Component, 2019-2032 (USD Billion) 

68. South Africa Airport Cabin Baggage Scanner Market, By Airport Type, 2019-2032 (USD Billion)  

List of Figures 

1. Global Airport Cabin Baggage Scanner Market Segmentation

2. Airport Cabin Baggage Scanner Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Airport Cabin Baggage Scanner Market Attractiveness Analysis by Scanner Type 

9. Global Airport Cabin Baggage Scanner Market Attractiveness Analysis by Component

10. Global Airport Cabin Baggage Scanner Market Attractiveness Analysis by Airport Type 

11. Global Airport Cabin Baggage Scanner Market Attractiveness Analysis by Region

12. Global Airport Cabin Baggage Scanner Market: Dynamics

13. Global Airport Cabin Baggage Scanner Market Share by Scanner Type (2022 & 2032)

14. Global Airport Cabin Baggage Scanner Market Share by Component (2022 & 2032)

15. Global Airport Cabin Baggage Scanner Market Share by Airport Type (2022 & 2032)

16. Global Airport Cabin Baggage Scanner Market Share by Regions (2022 & 2032)

17. Global Airport Cabin Baggage Scanner Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global airport cabin baggage scanner market based on below mentioned segments:

Global Airport Cabin Baggage Scanner Market Scanner Type:

  • 3D
  • 2D

Global Airport Cabin Baggage Scanner Market Component:

  • Software
  • Hardware
  • Services
    • Installation & maintenance
    • Consulting

Global Airport Cabin Baggage Scanner Market Airport Type:

  • Cargo Service Airport
  • Commercial Service Airports
  • General Aviation Airports

Global Airport Cabin Baggage Scanner Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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