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Bathroom Cabinets Market

Bathroom Cabinets Market Size by Type (With Mirror, and Without Mirror), By Material (Wood, Metal, and Others), Application (Residential, and Commercial), Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13172
  • Published Date: Dec, 2022
  • Pages: 232
  • Category: Consumer Goods
  • Format: PDF
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The bathroom cabinets market was estimated at around USD 11.5 billion in 2021, growing at a CAGR of nearly 7.7% during 2022-2030. The market is projected to reach approximately USD 22.5 billion by 2030.

Bathroom Cabinets Market: Overview

A bathroom cabinet is a cabinet that is used in the bathroom to store items such as toiletries, personal care items, and occasionally even pharmaceuticals so that it can double as a makeshift medicine cabinet. Bathroom cabinets are typically positioned above toilets, over sinks, or underneath sinks. Over the past few decades, bathroom cabinets have undergone significant design and technology development, leading to amazing style and remodeling demand. The first signs of furniture in bathrooms were initially observed by trend observers more than ten years ago. This is now considered normal practice, and there is a vast selection of attractive and sturdy furniture designed expressly for bathroom purposes. Due to the rising need for residential buildings and supporting infrastructure, the multi-utility home décor and bathroom utilities trend is projected to continue growing. Additionally, it is anticipated that the rising demand for furniture units with greater functionality would encourage the installation of specialty countertops such mirror cabinets, spurring the growth of the sector.

Bathroom Cabinets Market Size

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Bathroom Cabinets Market: COVID – 19 Impact Analysis

All industries have been impacted by the COVID-19 pandemic outbreak, which has brought about a number of unanticipated changes in the global economy. Additionally, COVID-19 has had an effect on every industry in the world, with the hotel sector suffering the most. The market for commercial bathroom cabinets has been influenced by travel restrictions and lockdowns. Due to persistent health problems brought on by the ongoing epidemic and the failing economy, the travel sector as a whole has experienced a major decline. The global COVID-19 outbreak had a significant influence on the market, and businesses operating there experienced a bad financial downturn and decreased product demand. The COVID-19 epidemic significantly disrupted international trade, making it challenging for businesses to trade goods. However, the market is anticipated to have significant growth over the next few years as a result of the growing popularity of home remodeling, the digitalization and automation of the furniture sector, and the pressure from low pricing on manufacturers to reinvent their current processes.

Bathroom Cabinets Market: Growth Drivers

Increasing demand for customized bath cabinets to accelerate the market’s growth

Customized bath cabinets made of granite, marble, lava stone, and engineered stone are highly sought-after due to their accessibility and aesthetic appeal. During the projection period, this tendency is anticipated to persist. Important market players are responding to this industry trend by significantly expanding their product lines to include goods manufactured of cutting-edge materials. One of these products was the Isoe bath cabinet, which was released in December 2021 by HiB, a reputable manufacturer of bathroom accessories. It came in three different sizes, 50cm, 60cm, and 80cm, and had increased functionality, a wealth of features, and a flexible design.

Rising construction industry

New residential and commercial facilities are anticipated to be developed as a result of the growing number of initiatives taken by the governments of several nations, including China, Japan, India, and Indonesia. Over the course of the projection period, all of these variables are anticipated to boost market growth. One of the key drivers propelling the market's expansion is the rising rate of home building and completion in developed areas. The purchasing power of people in developed countries and their preference for intelligent and environmentally friendly structures greatly drive the need for new homes. Additionally, there has been an upsurge in remodeling and renovation efforts in the developed parts of the world. Increased interest in practical bathrooms and contemporary bathroom amenities has fueled home interior renovation projects, which in turn are driving the market.

Bathroom Cabinets Market: Segmentation Analysis

The bathroom cabinets market is segmented into the type, material, and application. Based on type, the market for mirrored cabinets segment is estimated to lead the market during the forecast period. Growing demand for mirrored cabinets in important developing nations like China, India, and Brazil, among others, is the main factor driving the expansion. Over time, there has been an increase in demand for cabinets with automatic lighting features, and the growth of online distribution channels has forced industry players to change their business plans to focus on having an omnichannel presence in order to keep up with the latest trends. Due to this, demand for mirrored bathroom cabinets has increased globally.

Based on material, the market for wood segment is estimated to lead the market during the forecast period. One of the main factors influencing the need for wooden bathroom furniture is the rising demand for contemporary bathroom interiors that provide a comfortable environment. The expansion of international businesses that provide remodeling services within a certain timescale and budget, supported by improved accessibility to cutting-edge furniture designs, will boost the segment's growth.

By application, the residential segment is anticipated to dominant the bathroom cabinets market during the forecast period. Recent years have seen significant technological and design developments in the home market, leading to multipurpose utility and remarkable aesthetics. When it comes to bathroom cabinet products, various homes have distinct needs. Due to its accessibility, variety of patterns, and dependability, mirrored single-door cabinets are most frequently chosen by consumers. The need for new home construction and home renovations has caused the residential sector to expand significantly during the past several years.

Report Scope

Attribute Description
Base Year 2021
Forecast period 2022-2030
Report Coverage Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Market Size(unit) USD Billion
CAGR (2022 to 2030) 7.7%
Segments Covered

By Type
By Material
By Application

Key Insights:

  • Based on type segmentation, the mirrored cabinets segment is estimated to hold the largest market share during the forecast period.
  • Based on material segmentation, the wood segment is estimated to hold the largest market share during the forecast period.
  • Based on application segmentation, the residential segment is the leading revenue-generating category during the forecast period.
  • On the basis of geography/region, the Asia Pacific region was the leading revenue generator in 2021.

Recent Development

  • October 2022: By providing a wider range of cabinet and basin options, Geberit incorporated new product developments to its Geberit iCon and ONE series.
  • April 2021: An international manufacturer of bathroom accessories, Duravit, introduced the D-Neo line of goods, which guarantee a high level of quality and stylish design. With the introduction of this product, the firm made rectangular mirror and mirror cabinet alternatives with LED edge illumination available.

Regional Landscape

Asia-Pacific, which currently dominates the market's revenue share, is anticipated to remain one of the most alluring markets during the projection period. The region's construction industry's growth prospects have recently improved due to the region's growing population and rising standard of life. The region's total retail market has been stimulated by rising disposable income. Urbanization in developing nations like China and India, where lifestyles are changing quickly, is anticipated to fuel regional market expansion throughout the projection period.

List of the prominent players in the Global Bathroom cabinets market:

  • Geberit AG
  • Roca Sanitario, S.A
  • HiB
  • Emco Group
  • Roper Rhodes Ltd
  • FAB Glass
  • Nilkamal Limited
  • Duravit AG
  • Laufen Bathrooms AG
  • W. Schneider+Co AG

The global Bathroom cabinets market is segmented as follows:

By Type

  • With Mirror
  • Without Mirror

By Material

  • Wood
  • Metal
  • Others

By Application

  • Residential
  • Commercial

By Region/Geography

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
  • The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
  • Customers can be added on the basis of regions and countries
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope

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 Type
          4.3.2. Market Attractiveness Analysis By Material
          4.3.3. Market Attractiveness Analysis By Application
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing demand for customized bath cabinets to accelerate the market’s growth
          5.2.2. Rising construction industry
    5.3. Restrains
          5.3.1. Increasing health concerns related to MDF manufacturing would hamper the market
    5.4. Opportunities
          5.4.1. Construction of new buildings and high disposable income

6. Global Bathroom Cabinets Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. With Mirror
    6.3. Without Mirror

7. Global Bathroom Cabinets Market Analysis and Forecast, By Material
    7.1. Segment Overview
    7.2. Wood
    7.3. Metal
    7.4. Others

8. Global Bathroom Cabinets Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Residential
    8.3. Commercial

9. Global Bathroom Cabinets 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
          9.3.6. Rest of Europe
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
          9.4.4. Australia
          9.4.5. South Korea
          9.4.6. Rest of Asia-Pacific
    9.5. South America
          9.5.1. Brazil
          9.5.2. Argentina
          9.5.3. Rest of South America
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa
          9.6.3. Saudi Arabia
          9.6.4. Rest of Middle East & Africa

10. Global Bathroom Cabinets Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Bathroom Cabinets 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. Type Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Geberit AG
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Application Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Roca Sanitario, S.A
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Application Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. HiB
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Application Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Emco Group
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Application Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Roper Rhodes Ltd
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Application Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. FAB Glass
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Application Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Nilkamal Limited
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Application Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Duravit AG
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Application Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Laufen Bathrooms AG
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Application Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. W. Schneider+Co AG
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Application Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
 

List of Table

1. Global Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

2. Global With Mirror Bathroom Cabinets Market, By Region, 2022-2030(USD Billion) 

3. Global Without Mirror Bathroom Cabinets Market, By Region, 2022-2030(USD Billion) 

4. Global Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

5. Global Wood Bathroom Cabinets Market, By Region, 2022-2030(USD Billion) 

6. Global Metal Bathroom Cabinets Market, By Region, 2022-2030(USD Billion) 

7. Global Others Bathroom Cabinets Market, By Region, 2022-2030(USD Billion)

8. Global Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

9. Global Residential Bathroom Cabinets Market, By Region, 2022-2030(USD Billion) 

10. Global Commercial Bathroom Cabinets Market, By Region, 2022-2030(USD Billion) 

11. Global Bathroom Cabinets Market, By Region, 2022-2030(USD Billion) 

12. Global Bathroom Cabinets Market, By North America, 2022-2030(USD Billion) 

13. North America Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

14. North America Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

15. North America Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

16. U.S. Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

17. U.S. Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

18. U.S. Bathroom Cabinets Market, By Application, 2022-2030(USD Billion)  

19. Canada Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

20. Canada Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

21. Canada Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

22. Mexico Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

23. Mexico Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

24. Mexico Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

25. Europe Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

26. Europe Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

27. Europe Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

28. Germany Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

29. Germany Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

30. Germany Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

31. France Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

32. France Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

33. France Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

34. U.K. Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

35. U.K. Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

36. U.K. Bathroom Cabinets Market, By Application, 2022-2030(USD Billion)  

37. Italy Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

38. Italy Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

39. Italy Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

40. Spain Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

41. Spain Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

42. Spain Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

43. Rest of Europe Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

44. Rest of Europe Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

45. Rest of Europe Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

46. Asia Pacific Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

47. Asia Pacific Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

48. Asia Pacific Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

49. Japan Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

50. Japan Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

51. Japan Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

52. China Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

53. China Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

54. China Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

55. India Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

56. India Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

57. India Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

58. Australia Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

59. Australia Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

60. Australia Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

61. South Korea Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

62. South Korea Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

63. South Korea Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

64. Rest of Asia-Pacific Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

65. Rest of Asia-Pacific Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

66. Rest of Asia-Pacific Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

67. South America Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

68. South America Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

69. South America Bathroom Cabinets Market, By Application, 2022-2030(USD Billion)  

70. Brazil Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

71. Brazil Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

72. Brazil Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

73. Argentina Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

74. Argentina Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

75. Argentina Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

76. Rest of South America Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

77. Rest of South America Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

78. Rest of South America Bathroom Cabinets Market, By Application, 2022-2030(USD Billion)

79. Middle East and Africa Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

80. Middle East and Africa Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

81. Middle East and Africa Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

82. UAE Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

83. UAE Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

84. UAE Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

85. South Africa Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

86. South Africa Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

87. South Africa Bathroom Cabinets Market, By Application, 2022-2030(USD Billion) 

88. Saudi Arabia Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

89. Saudi Arabia Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

90. Saudi Arabia Bathroom Cabinets Market, By Application, 2022-2030(USD Billion)

91. Rest of Middle East & Africa Bathroom Cabinets Market, By Type, 2022-2030(USD Billion) 

92. Rest of Middle East & Africa Bathroom Cabinets Market, By Material, 2022-2030(USD Billion) 

93. Rest of Middle East & Africa Bathroom Cabinets Market, By Application, 2022-2030(USD Billion)

List of Figures 

1. Global Bathroom Cabinets Market Segmentation

2. Bathroom Cabinets 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 Bathroom Cabinets Market Attractiveness Analysis By Type

9. Global Bathroom Cabinets Market Attractiveness Analysis By Material

10. Global Bathroom Cabinets Market Attractiveness Analysis By Application

11. Global Bathroom Cabinets Market Attractiveness Analysis By Region

12. Global Bathroom Cabinets Market: Dynamics

13. Global Bathroom Cabinets Market Share By Type(2022 & 2030)

14. Global Bathroom Cabinets Market Share By Material(2022 & 2030)

15. Global Bathroom Cabinets Market Share By Application(2022 & 2030)

16. Global Bathroom Cabinets Market Share by Regions (2022 & 2030)

17. Global Bathroom Cabinets Market Share by Company (2021)

By Type

  • With Mirror
  • Without Mirror

By Material

  • Wood
  • Metal
  • Others

By Application

  • Residential
  • Commercial

By Region/Geography

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
  • The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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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