Digital Coupon Generation System Market

Digital Coupon Generation System Market Size by Type (Generation, Distribution, Redemption and Others), Application (Business and Individual), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14434
  • Published Date: Jun, 2024
  • Pages: 239
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global Digital Coupon Generation System market generated USD 7.81 Billion revenue in 2023 and is projected to grow at a CAGR of 18.62% from 2024 to 2033. The market is expected to reach USD 43.08 Billion by 2033. Various factors open up immense opportunities for the global digital coupon generation system Market. Firstly, the increase in consumer demand and digitalization are major factors propelling the markets in urban contexts. Additionally, the versatility offered by these products, especially in data analytics and cost-effectiveness, is also a key reason that is expected to push the global digital coupon generation system market higher soon.

Market Introduction:

A digital coupon generation system is a technology software or a solution that enables the production and management of digital coupons used for marketing promotions. Such systems automate offering discounts and deals to consumers across the web through an application or email. Also, the choice of coupons within the mentioned system helps to create and adjust coupons based on the needs of various companies. This aspect may encompass inputs such as discount percentage, the duration for which the discount is valid, how the offer may be redeemed and any other conditions that have been set. An organization may decide to place coupons on different online platforms, which include social media pages, the firm's website, mobile applications, emails, or even advertising. It also allows businesses to cover more ground and be as effective as possible in grabbing the target market's attention. Moreover, digital coupon generation systems provide value-added services and information regarding the effectiveness of coupons and the consumers' tendencies. They include redeemed desktop vouchers, voucher usage over time, customer trends, and investment returns. The coupon data helps businesses/companies know the extent to which the coupons they developed for marketing have achieved and what they could do to improve the results in the future. Moreover, these systems correlate with other marketing applications, customer relationship management software, and e-business solutions to simplify work and provide customers with the best experience possible.

Digital Coupon Generation System Market Size

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Recent Development
  • In April 2023: After working together on a case involving the Otto Group, OSP and Open Loyalty agreed to become full-time partners. They wanted to join forces and deliver API-first loyalty technology to the best companies in the DACH market. By forming this partnership, it has succeeded in achieving the objective for which it was established: to provide new business opportunities that would spearhead regional innovation.
  • In November 2021: In their recent collaboration with Noon, Almowafir has the privilege of having a Noon code that Almowafir customers can use by simply entering NBF14. New users will be able to enjoy an extra 10% off for up to 25 AED/SAR, and existing Noon users will be able to get an additional 5% off for up to 25 AED/SAR. This partnership creates healthy competition in the market, thus improving the benefits accrued from the system to the new and current users.

Market Dynamics:

Drivers

Increasing Digitalization — As the world shifts its spotlight to smartphone usage and internet connection, more customers patronize online markets. This trend has led to the emergence of digital coupon generation systems because most business people aim to embrace digital channels for marketing and promotion.

Growing E-commerce Industry — The massive expansion of e-commerce platforms has created a need for coupon solutions in the digital arena. In the context of the internet and high competition, digital coupons are effectively used by online retailers to lure customers, increase demand, and retain them.

Preference for Personalized Marketing — There is a pronounced trend towards customization, or people wanting more tailored shopping experiences. Digital coupon generation systems also help businesses tailor promotions by considering various parameters, including customer demography, history of purchase, and preferences, to capture and satisfy customers' attention.

Restraints:

Security Concerns — One potential concern that threatens the effectiveness of digital couponing systems is security. Customers may not want to provide personal details or use promotional vouchers if they feel their data will be at risk, and thus, they will be distrustful of the system.

Consumer Fatigue — The fatigue effect is observed with increased use and acceptance of digital coupons and promotions. Considering the number of coupons and discounts regularly targeted at consumers, the consumers' sensitivity to marketing campaigns can be significantly lowered, thus negating the efficiency of digital couponing.

Opportunities:

Combining Emerging Technologies — Combining AI, AR, and ML opens up possibilities to boost the revelry of digital coupons. AI can be used for coupon recommendations, which can recommend coupons according to customers' likes and dislikes. On the other hand, AR can offer users an exciting experience.

Partnerships and Collaborations — Closely related to the topic, cooperation and integration between digital couponing platforms, e-commerce platforms, payment services, and retailers enable new opportunities for further development. The synergistic utilization of digital couponing solutions can give a new dimension to firms that industries can form strategic partnerships, which can help them make diversification and cross-sell strategies to more customers.

Challenges:

Fraud and Abuse — There is always the potential for fraud and abuse, particularly with digital coupons. Couponing instabilities like counterfeit coupons or unauthorized duplication harm couponing businesses' revenues and tarnish the image of couponing campaigns.

Redemption Complexity — Sometimes, redemption can be complicated by several steps or even require technical requirements, and such issues will reduce the use of digital coupons among the target consumers. It is important that making redemption easier directly impacts the redemption level and, therefore, user satisfaction.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most prominent global Digital Coupon Generation System market, with a 43.82% market revenue share in 2023.

North America also has a mature digital environment with laptops and mobile internet, along with a high penetration of smartphones. This strong and extensive infrastructure helps consumers readily adopt digital couponing systems since they can easily use digital platforms to find and redeem coupons. In the same way, quite a diverse North America also has a mature digital environment with laptops and mobile internet and a high penetration of smartphones. This strong and extensive infrastructure helps consumers readily adopt digital couponing systems since they can easily use digital platforms to find and redeem coupons. In the same way, quite a diverse and large North American market is presented by retail companies, from traditional retailers with physical stores to e-commerce companies. That somewhat fragmented retail environment can be viewed as the primary opportunity for specialist digital couponing platforms to engage with retailers of any size and sector to achieve broader penetration and greater utilization. Additionally, North America has previously adopted digital technologies and innovations in marketing and advertising. Because the consumers in that region are knowledgeable and firms in the technology industries are receptive to change, digital coupons have been adopted as an efficient advertising tool given their cost-saving measure and ability to attain the intended audience to achieve consumer loyalty. In addition, the consumer behaviour exhibited in North America supports digital couponing strategies. Consumers from North America are familiar with hunting for coupons, and having coupons makes them open to digital offers. Furthermore, the lifestyle of North American people tends to be convenient, and the low price is something they are very conscious of, which makes them embrace the features of digital couponing systems. Importantly, the North American market is presented by retail companies, from traditional retailers that have physical stores to e-commerce companies. That somewhat fragmented retail environment can be viewed as the primary opportunity for specialist digital couponing platforms to engage with retailers of any size and sector to achieve broader penetration and greater utilization. Moreover, North America has previously adopted digital technologies and innovations in marketing and advertising. Because the consumers in that region are knowledgeable and firms in the technology industries are receptive to change, digital coupons have been adopted as an efficient advertising tool given their cost-saving measure and ability to attain the intended audience to achieve consumer loyalty. In addition, the consumer behaviour exhibited in North America supports digital couponing strategies. Consumers from North America are familiar with hunting for coupons, and having coupons makes them open to digital offers. Besides, the lifestyle of North American people tends to be convenient, and the low price is something they are very conscious of, which makes them embrace the features of digital couponing systems.

North America Region Digital Coupon Generation System Market Share in 2023 - 43.82%

 

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Type Segment Analysis

The type segment is divided into generation, distribution, redemption and others. The generation segment dominated the market, with a share of around 41.73% in 2023. Generations might have brought unique technological solutions that made them different from their counterparts. This factor can encompass features such as better coupon generation algorithms, ease of use, powerful coupon modification options, or compatibility with new trending apps. Thus, they offered clients the opportunity to maximize effectiveness in fulfilling their most notorious needs of the moment — creating and delivering coupons. However, the generation most probably offered significant customization features that shaped coupons to the unique qualities of a particular business and its consumers. This flexibility was appreciated by marketers in organizing and pitching coupon delivery and made the generation process rather competitive. Moreover, it might have included strong analytical tools with the help of which businesses/companies could monitor the effectiveness of their couponing programs in real-time. They allowed organizations to implement the right marketing tactics and derive the possible returns from their investment simply by presenting relevant information on the customer and their response to particular promotional operations.

Application Segment Analysis

The application segment is classified into apparels, consumer electronics, health and beauty, pharma and insurance, pets and kids, and others. The apparels segment dominated the market, with a share of around 24.18% in 2023. Clothing is another example of a product bought more often in a relatively short period due to styling needs, seasonal changes, and other factors. Therefore, the apparel industry retailers are continually required to draw consumers towards their stores and lure them to return for more purchases; digital couponing is an effective way of encouraging customer purchases and patronage. Also, the apparel industry is saturated with many apparel brands, hence the competition in seeking the consumer’s attention and market share. A powerful tool for apparel retailers is the generation of digital coupons that allow them to cut themselves above their rivals through targeted promotions, discounts, and personalized offers, with the pulling power to attract discerning consumers and drive sales. For any apparel industry, it is crucial to note that they have periods of high sales, usually during necessary events such as back to school, holidays, and special events from fashion calendars. From the above trend lifecycle analysis, digital couponing systems can also be used to advantage by appealing to apparel retailers by employing appropriate promotional messages and discounts during these periods.

Some of the Key Market Players:
  • Allerin
  • Coupontools
  • Coupon Carrier
  • Egoditor
  • GS1 HK
  • Inmar
  • Mezzofy
  • Magento
  • Mageplaza
  • Open Loyalty
  • Talon.One
  • Venngage Inc.
  • Vouchery
  • Vouchermatic
  • Woobox
  • Xoxoday

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 7.81 Billion
Market size value in 2033 USD 43.08 Billion
CAGR (2024 to 2033) 18.62%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region 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 Type and Application

Frequesntly Asked Questions

As per The Brainy Insights, the size of the digital coupon generation system market was valued at USD 7.81 billion in 2023 to USD 43.08 billion by 2033.

The global digital coupon generation system market is growing at a CAGR of 18.62% during the forecast period 2024-2033.

North America became the largest market for digital coupon generation system.

Increasing digitalization and growing e-commerce industry drive the market's 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 Type
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing Digitalization
          5.2.2. Growing E-commerce Industry
    5.3. Restraints
          5.3.1. Security Concerns
    5.4. Opportunities
          5.4.1. Integration with Emerging Technologies
    5.5. Challenges
          5.5.1. Redemption Complexity

6. Global Digital Coupon Generation System Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Generation
    6.3. Distribution
    6.4. Redemption
    6.5. Others

7. Global Digital Coupon Generation System Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Apparels
    7.3. Consumer Electronics
    7.4. Health and Beauty
    7.5. Pharma and Insurance
    7.6. Pets and Kids
    7.7. Others

8. Global Digital Coupon Generation System Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Digital Coupon Generation System Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Digital Coupon Generation System Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Allerin
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Coupontools
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Coupon Carrier
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Egoditor
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. GS1 HK
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Inmar
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Mezzofy
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Magento
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Mageplaza
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Open Loyalty
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Product Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. Talon.One
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Product Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. Venngage Inc.
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company Product Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis
    10.13. Vouchery
          10.13.1. Business Overview
          10.13.2. Company Snapshot
          10.13.3. Company Market Share Analysis
          10.13.4. Company Product Portfolio
          10.13.5. Recent Developments
          10.13.6. SWOT Analysis
    10.14. Vouchermatic
          10.14.1. Business Overview
          10.14.2. Company Snapshot
          10.14.3. Company Market Share Analysis
          10.14.4. Company Product Portfolio
          10.14.5. Recent Developments
          10.14.6. SWOT Analysis
    10.15. Woobox
          10.15.1. Business Overview
          10.15.2. Company Snapshot
          10.15.3. Company Market Share Analysis
          10.15.4. Company Product Portfolio
          10.15.5. Recent Developments
          10.15.6. SWOT Analysis
    10.16. Xoxoday
          10.16.1. Business Overview
          10.16.2. Company Snapshot
          10.16.3. Company Market Share Analysis
          10.16.4. Company Product Portfolio
          10.16.5. Recent Developments
          10.16.6. SWOT Analysis
 

List of Table

1. Global Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

2. Global Generation, Digital Coupon Generation System Market, By Region, 2020-2033 (USD Billion) 

3. Global Distribution, Digital Coupon Generation System Market, By Region, 2020-2033 (USD Billion) 

4. Global Redemption, Digital Coupon Generation System Market, By Region, 2020-2033 (USD Billion) 

5. Global Others, Digital Coupon Generation System Market, By Region, 2020-2033 (USD Billion) 

6. Global Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

7. Global Apparels, Digital Coupon Generation System Market, By Region, 2020-2033 (USD Billion) 

8. Global Consumer Electronics, Digital Coupon Generation System Market, By Region, 2020-2033 (USD Billion) 

9. Global Health and Beauty, Digital Coupon Generation System Market, By Region, 2020-2033 (USD Billion) 

10. Global Pharma and Insurance, Digital Coupon Generation System Market, By Region, 2020-2033 (USD Billion) 

11. Global Pets and Kids, Digital Coupon Generation System Market, By Region, 2020-2033 (USD Billion) 

12. Global Others, Digital Coupon Generation System Market, By Region, 2020-2033 (USD Billion) 

13. Global Digital Coupon Generation System Market, By Region, 2020-2033 (USD Billion) 

14. North America Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

15. North America Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

16. U.S. Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

17. U.S. Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

18. Canada Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

19. Canada Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

20. Mexico Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

21. Mexico Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

22. Europe Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

23. Europe Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

24. Germany Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

25. Germany Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

26. France Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

27. France Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

28. U.K. Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

29. U.K. Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

30. Italy Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

31. Italy Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

32. Spain Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

33. Spain Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

34. Asia Pacific Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

35. Asia Pacific Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

36. Japan Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

37. Japan Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

38. China Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

39. China Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

40. India Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

41. India Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

42. South America Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

43. South America Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

44. Brazil Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

45. Brazil Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

46. Middle East and Africa Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

47. Middle East and Africa Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

48. UAE Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

49. UAE Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

50. South Africa Digital Coupon Generation System Market, By Type, 2020-2033 (USD Billion) 

51. South Africa Digital Coupon Generation System Market, By Application, 2020-2033 (USD Billion) 

List of Figures 

1. Global Digital Coupon Generation System Market Segmentation

2. Digital Coupon Generation System 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 Digital Coupon Generation System Market Attractiveness Analysis By Type

9. Global Digital Coupon Generation System Market Attractiveness Analysis By Application

10. Global Digital Coupon Generation System Market Attractiveness Analysis By Region

11. Global Digital Coupon Generation System Market: Dynamics

12. Global Digital Coupon Generation System Market Share By Type (2024 & 2033)

13. Global Digital Coupon Generation System Market Share By Application (2024 & 2033)

14. Global Digital Coupon Generation System Market Share By Regions (2024 & 2033)

15. Global Digital Coupon Generation System Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Digital Coupon Generation System market based on below-mentioned segments:

Global Digital Coupon Generation System Market by Type:

  • Generation                 
  • Distribution
  • Redemption
  • Others

Global Digital Coupon Generation System Market by Application:

  • Apparels                     
  • Consumer Electronics         
  • Health and Beauty
  • Pharma and Insurance
  • Pets and Kids
  • Others  

Global Digital Coupon Generation System 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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