Automotive Sunroof Market

Automotive Sunroof Market Size by Product Type (Pop-Up, Folding, Spoiler, Inbuilt, Tilt & Slide, Top Mount, and Panoramic Sunroof), Material Type (Fabric and Glass), Vehicle Type, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13307
  • Published Date: Feb, 2023
  • Pages: 236
  • Category: Automotive & Transportation
  • Format: PDF
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The global automotive sunroof market is expected to grow from USD 7 billion in 2022 to USD 19.87 billion by 2032, at a CAGR of 11% during the forecast period 2023-2032. The increasing demand for cars with advanced features will drive the global automotive sunroof market.

Market Introduction:

A sunroof is similar to a window of a car or a vehicle. It is situated on the roof of the vehicle. The purpose of the sunroof is to allow sunlight and air to enter the vehicle enabling ventilation and natural light to improve the vehicular experience. The sunroof-like windows are movable. They can be manually operated or can have dedicated automated features. The sunroof is available in all kinds of cars. It is in different shapes and sizes. The material of the sunroof also varies. A sunroof allows users or passengers of the vehicle to enjoy a complete view of the landscape from the roof level of the car. Technological advancements have enabled glass innovations that have UV protection. These glasses are toughened up to withstand a considerable amount of external resistance. Product innovations have allowed the integration of solar cells into sunroofs, which power the vehicle's operational features. It is also easily integrated into electric vehicles. A sunroof is a luxury that is increasing in demand as luxury car manufacturing rises. Low-segment cars are also deploying the feature to attract more consumers.

Automotive Sunroof Market Size

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Recent Development

January 2023 - Webasto has recently increased its capacity in Asia to suit the soaring demand for car roof systems. One of the marketplaces for this product category that is expanding the quickest is India. In total, Webasto is investing more than USD 140 million in Asia. The initial facilities had grown too small, so Webasto constructed a larger local production facility for roof systems in Pune, India. Webasto is constructing a second factory building on the property of its facility in Hiroshima (Japan), where roofing has been produced for the Japanese market since the late 1970s. A state-of-the-art new battery manufacturing facility for fully electric passenger cars was also built in Dangjin, south of Seoul, within a year (South Korea).

Market Dynamics:

Drivers

The increasing demand for cars with sunroofs – The rising disposable income of consumers is driving the demand for automobiles globally. The current consumer base demands cars with advanced safety, aesthetic and convenience features. Technological advancements and innovation in the automotive sector augment the market's supply side by offering advanced cars with improved features at affordable vehicles. The modern world revolves around presentation as much as it does around functionality. Consumers prefer aesthetic qualities in their vehicles that elevate their social status. Sunroofs boost the functionality as well as the appearance of the car. The natural light highlights the vehicle and enhances its appearance. The car in natural sunlight is pleasing to the eye. Sunroof allows air ventilation, which is much needed during summer. The sunlight coming through the sunroof is welcome in winter as it offers warmth. A sunroof provides a better view when passing through scenic roots; consumers are willing to pay extra for it. The glass technology advancements and the roof's design have made it more appealing to the audience, driving its demand. Therefore, the increasing demand for cars with sunroofs will drive the global automotive sunroof market.

Restraints:

High initial and maintenance costs – Installing a sunroof over the vehicle involves altering the design of the vehicle's top. The installation disrupts the automotive. The glass used is expensive. The mechanism for its operation needs to be added as a feature in the car. The installation of the glass, followed by its fitting and integration with the car's overall operational components, is expensive.

Furthermore, the maintenance of the sunroof is also costly, given its regular cleaning and operation. The sunroof makes the car heavier than usual, which reduces its efficiency and thereby increases maintenance costs for the owner. The malfunctioning, repair, and replacement costs are also very high for sunroofs. Sunroofs' high integration and maintenance costs alienate many consumers, thereby restricting the market's growth.

Opportunities:

Growing research and development to develop better sunroof glassThe increasing demand for vehicles is a positive growth indicator for the automotive market. The rising disposable income increases the desire and willingness of consumers to spend on car luxuries like sunroofs. Given the highly competitive automotive market, car manufacturers are trying to gain market share by improving their products' engines, safety, entertainment, and convenience features. A strong emphasis is also being placed on the aesthetics of the cars. Sunroofs have become an undeniable part of modern cars. The market players are concentrating on developing better sunroof glass to differentiate their products and attract new consumers. The new glass technologies enable greater flexibility, toughness, agility, uniformity, and thickness. These features allow the market players to build different types of sunroofs in their cars or customize them for their customers. Also, integrating solar cells into sunroofs has enabled car manufacturers to achieve sustainability goals without compromising vehicular performance. Such product innovation, targeted marketing, and increased capital expenditure by the market players will offer lucrative opportunities for the global automotive sunroof market.

Challenges:

The sunroof reduces vehicle engine efficiency – There is now a pressing need to significantly reduce carbon emissions due to the accelerated rate of climate change. The environment receives a significant amount of greenhouse gas emissions from moving vehicles. The automotive industry needs to be regulated and monitored to reduce emissions. All nations are adopting new eco-friendly rules and regulations, encouraging market players to use emission-reduction technologies. Also, the desire for cars with smaller carbon footprints is being driven by consumers' growing environmental consciousness. The market for automotive sunroofs will be hampered by the rising consumer demand for vehicles with improved fuel economy and more sustainability, as sunroofs make the vehicles heavy and decrease engine efficiency. Lightweight vehicles produce less exhaust, which lowers economies' carbon footprints, and heavy cars do the opposite. Therefore, the reduction in fuel efficiency, given the grave nature of sunroofs, will hamper the market's growth.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region emerged as the most significant global automotive sunroof market, with a 39% market revenue share in 2022. The need for passenger automobiles has increased due to rising consumer disposable income, resulting in the Asia Pacific region dominating the automotive sunroofs market. The government's approval of new rules that promote the manufacture and consumption of digital automobiles has enabled the application of solar-integrated sunroofs to be utilized extensively in the regional market. The Asia-Pacific region is anticipated to maintain its dominance during the projection period. China dominates the Asia Pacific automotive sunroof market. The need for automotive sunroofs is expanding due to the rising demand for vehicles in developing nations like India and China, fulfilling the rising needs by corresponding increased manufacturing capacity. China, the top auto producer in the world, wants to lower carbon emissions by increasing fuel efficiency; thereby, it is integrating solar cells in the sunroofs of new electric and hybrid cars. India is also contributing significantly to the market by developing a business-friendly infrastructure and environment in the country for willing market players.

Asia Pacific region Automotive Sunroof Market Share in 2022 - 39%

 

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Product type segment analysis

The product type segment is divided into a spoiler, pop-up, inbuilt, folding, top mount, tilt & slide, and a panoramic sunroof. The inbuilt sunroof segment dominated the market with a revenue share of around 44% in 2022. An inbuilt sunroof is integrated into the metal head of the car's upper body. The glass or fabric sunroof can slide in and out manually or with automobiles. It offers a complete view. It opens fully and provides more significant space. They are the most common sunroofs offered in luxury and low-segment cars. They are easy to install, integrate and operationalize with the existing car features. Their ease of installation makes them a popular choice among original equipment manufacturers. They are relatively affordable compared to their counterparts, therefore, dominate the global market.

Material type segment analysis

The material type segment is divided into fabric and glass. The glass segment dominated the market with a revenue share of around 67% in 2022. Glass as a raw material for sunroofs is a tried and tested procedure with excellent durability and reliability results. It has four times more external impact resistance than the original glass, ensuring the safety of the passengers. The raw materials are easily available, and the flexible nature of toughened glass allows easy integration of sunroofs in cars. Technological advancement and product innovations have improved the impact resistance of glass. New glass variants are embedded with UV protection, solar cells, and energy-efficient features. Also, glass sunroofs are inexpensive compared to fabric, increasing their market dominance.

Vehicle type segment analysis

The vehicle type segment is categorized into light commercial vehicles, passenger cars, and electric vehicles. The passenger cars segment dominated the market with a revenue share of around 74% in 2022. The expanding population with more disposable wealth is driving the rising demand for passenger cars with advanced features. Consumer spending on luxury automobiles with automated systems has increased because of the desire to raise one's standard of living and social standing. This factor has fuelled the expansion of passenger cars with sunroofs.

Some of the Key Market Players:
  • Aisin Corporation
  • BOS Group
  • CIE Automotive
  • Valmet Automotive
  • Inalfa Roof Systems
  • Inteva Products
  • Johnan Manufacturing Inc.
  • Magna International Inc.
  • Webasto Group
  • Yachiyo Industry Co. Ltd.

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 7 Billion
Market size value in 2032 USD 19.87 Billion
CAGR (2023 to 2032) 11%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments The regions examined for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa.
Segments The research segment is based on product type, material type, and vehicle type.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the automotive sunroof market was valued at USD 7 billion in 2022 to USD 19.87 billion by 2032.

Global automotive sunroof market is growing at a CAGR of 11% during the forecast period 2023-2032.

The market's growth will be influenced by the increasing demand of cars with sunroof.

High initial and maintenance costs could hamper the market growth.

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 Product Type
          4.3.2. Market Attractiveness Analysis by Material Type
          4.3.3. Market Attractiveness Analysis by Vehicle 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. The increasing demand of cars with sunroof
    5.3. Restraints
          5.3.1. High initial and maintenance costs
    5.4. Opportunities
          5.4.1. Growing research and development to develop better sunroof glass
    5.5. Challenges
          5.5.1. The sunroof reduces vehicle’s engine efficiency

6. Global Automotive Sunroof Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Pop-Up Sunroof
    6.3. Inbuilt Sunroof
    6.4. Folding Sunroof
    6.5. Spoiler Sunroof
    6.6. Tilt & Slide Sunroof
    6.7. Top Mount Sunroof
    6.8. Panoramic Sunroof

7. Global Automotive Sunroof Market Analysis and Forecast, By Material Type
    7.1. Segment Overview
    7.2. Glass
    7.3. Fabric

8. Global Automotive Sunroof Market Analysis and Forecast, By Vehicle Type
    8.1. Segment Overview
    8.2. Passenger Cars
    8.3. Light Commercial Vehicles
    8.4. Electric Vehicles

9. Global Automotive Sunroof 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 Automotive Sunroof Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Automotive Sunroof 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. Aisin Corporation
          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. BOS Group
          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. CIE Automotive
          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. Valmet Automotive
          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. Inalfa Roof Systems
          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. Inteva Products
          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. Johnan Manufacturing 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. Magna International Inc.
          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
    11.9. Webasto Group
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Yachiyo Industry Co. Ltd.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

2. Global Pop-Up Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

3. Global Inbuilt Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

4. Global Folding Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

5. Global Spoiler Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

6. Global Tilt & Slide Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

7. Global Top Mount Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

8. Global Panoramic Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

9. Global Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

10. Global Glass Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

11. Global Fabric Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

12. Global Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

13. Global Passenger Cars Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

14. Global Light Commercial Vehicles Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

15. Global Electric Vehicles Automotive Sunroof Market, By Region, 2019-2032 (USD Billion)

16. Global Automotive Sunroof Market, By Region, 2019-2032 (USD Billion) 

17. North America Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

18. North America Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

19. North America Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

20. U.S. Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

21. U.S. Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

22. U.S. Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

23. Canada Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

24. Canada Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

25. Canada Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

26. Mexico Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

27. Mexico Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

28. Mexico Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

29. Europe Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

30. Europe Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

31. Europe Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

32. Germany Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

33. Germany Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

34. Germany Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

35. France Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

36. France Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

37. France Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

38. U.K. Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

39. U.K. Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

40. U.K. Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

41. Italy Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

42. Italy Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

43. Italy Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

44. Spain Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

45. Spain Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

46. Spain Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

47. Asia Pacific Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

48. Asia Pacific Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

49. Asia Pacific Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

50. Japan Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

51. Japan Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

52. Japan Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

53. China Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

54. China Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

55. China Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

56. India Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

57. India Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

58. India Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

59. South America Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

60. South America Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion)

61. South America Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion)

62. Brazil Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

63. Brazil Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

64. Brazil Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion)

65. Middle East and Africa Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

66. Middle East and Africa Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

67. Middle East and Africa Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion)

68. UAE Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

69. UAE Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

70. UAE Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion)

71. South Africa Automotive Sunroof Market, By Product Type, 2019-2032 (USD Billion) 

72. South Africa Automotive Sunroof Market, By Material Type, 2019-2032 (USD Billion) 

73. South Africa Automotive Sunroof Market, By Vehicle Type, 2019-2032 (USD Billion) 

List of Figures 

1. Global Automotive Sunroof Market Segmentation

2. Automotive Sunroof 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 Automotive Sunroof Market Attractiveness Analysis by Product Type

9. Global Automotive Sunroof Market Attractiveness Analysis by Material Type

10. Global Automotive Sunroof Market Attractiveness Analysis by Vehicle Type

11. Global Automotive Sunroof Market Attractiveness Analysis by Region

12. Global Automotive Sunroof Market: Dynamics

13. Global Automotive Sunroof Market Share by Product Type (2022 & 2032)

14. Global Automotive Sunroof Market Share by Material Type (2022 & 2032)

15. Global Automotive Sunroof Market Share by Vehicle Type (2022 & 2032)

16. Global Automotive Sunroof Market Share by Regions (2022 & 2032)

17. Global Automotive Sunroof Market Share by Company (2021)

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

Automotive Sunroof Market by Product Type:

  • Pop-Up Sunroof
  • Inbuilt Sunroof
  • Folding Sunroof
  • Spoiler Sunroof
  • Tilt & Slide Sunroof
  • Top Mount Sunroof
  • Panoramic Sunroof

Automotive Sunroof Market by Material Type:

  • Glass
  • Fabric

Automotive Sunroof Market by End User:

  • Passenger Cars
  • Light Commercial Vehicles
  • Electric Vehicles

Automotive Sunroof 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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