Electronic Flight Bag Market

Electronic Flight Bag Market Size by Application (Military, Commercial, Personal, and Others), Type (Installed and Portable), Component (Software and Hardware), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2031

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13254
  • Published Date: Jan, 2023
  • Pages: 235
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global electronic flight bag market was valued at USD 3.59 billion in 2023, increasing at a CAGR of 10.94% from 2023 to 2031 and anticipated to reach USD 8.25 billion by 2031. Asia Pacific is expected to grow the fastest during the forecast period. 

Market Introduction:

An electronic flight bag (EFB) is defined as a technique that allows electronic records to be reached & utilized in flight, which can be incorporated with airborne avionics systems. An electronic flight bag is an electronic information management instrument that aids flight crews in performing flight management tasks more quickly & efficiently with less paper providing the reference material usually found in the pilot's carry-on flight bag, including the navigational charts, flight-crew operating manual, etc. Electronic flight bags stores essential information like weather information, flight logs, aeronautical charts, operational manuals, airport information, route information, flight log, and relevant information. There are two types of electronic flight bags: installed and portable. Portable electronic flight bags are further classified into class 1 & class 2 bags. The electronic flight bag enhances performance by introducing the lightly weighted bag over conventional & reduces the cost by declining the use of paper. These progressive systems can also display an aircraft's position on navigational charts, depict real-time weather, and perform numerous complex flight-planning tasks. The EFB's ability to complete calculations previously completed by hand is more cost-effective & precise. A laundry list of EFB functions, which displays paper replacement, advisory use, planning, and other functions, can be found in the Type A & Type B software applications appendices of AC 120-76B. Type A applications are those paper replacement applications mainly intended for use during flight planning, on the ground, or during non-critical phases. Type B applications are those paper replacement applications that deliver the aeronautical information needed to be accessible for each flight at the pilot station and are primarily intended for use during flight planning & all phases of flight. The usage of EFB has several benefits for airline companies. As the varieties of applications utilized and the content management & distribution systems in EFB change, the specific benefits of EFBs are also updating and changing, respectively. In general, the advantages of utilizing EFB are the weight savings resulting in a positive effect on motions compared to the substitution of the traditional use of the flight bag and the reduction in the health problems caused by the weight of the bag. Another is a reduction in prices and increased efficiency due to eliminating the operations on printed papers. Eventually, a decrease in pilot workload creates situational awareness of pilots with automatic start & landing calculations, reducing fuel and maintenance costs.

Electronic Flight Bag

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Market Dynamics:

Drivers

The increasing demand for portable EFBs: The electronic flight bags include fuel-saving solutions that utilize planned data, like big data algorithms, to offer fuel-preservation solutions for airlines. Moreover, electronic flight bags reduce the use of paper, which aids in reducing weight & saving fuel. There is an increasing inclination towards fuel-efficient airlines owing to their environment-friendly nature & cost-efficiency, resulting in the electronic flight bag (EFB) industry development. As portable electronic flight bags can be operated both outside & inside the aircraft, their adoption is rising. A portable electronic flight bag offers easy installation without instruments, decreasing the flight crew's workload. Also, the availability of various classes of portable EFBs permits consumers to choose the one that best suits their specific needs. Additionally, the portable class 1 electronic flight bags are not connected to the aircraft system; thus, they are easy to remove during turbulent periods without any administrative process.

Restraints:

The risk of electronic system failure: The disruption in the electronic flight bags' supply chain hinders the overall distribution & production of EFB units. Further, the massive capital cost required for implementing the EFBs is also hampering the market growth over the forecast period. However, the risk of electronic system failure is inhibiting market growth. Additionally, minor domestic airlines avoid using electronic flight bags due to their higher initial capital cost. Correspondingly, the cost of updating & maintaining the software adds to the financial burden of airlines.

Opportunities:

The technological advancements: The technological advancements are expected to drive the use of electronic flight bags to illustrate real-time conditions & in-flight data, among others. Moreover, the rise in inclination towards electronic flight bags over conventional pilot flight bags to operate aircraft among pilots is anticipated to drive market growth. Additionally, the expansion of the aerospace sector, surge in investments, and raised disposable income are driving factors of the market growth over the forecast period.

Regional segmentation analysis:

The regions analyzed for the market include Europe, South America, Asia Pacific, North America, the Middle East, and Africa. North America emerged as the largest global electronic flight bag market, with a 48.35% market revenue share in 2023. North America dominates the electronic flight bag market due to the rising demand for next-generation aircraft. Moreover, the emerging countries are concentrating on signing agreements for updated EFB solutions are helping to drive the market growth in this region. Additionally, favourable industries taken by governmental institutions, like the federal aviation administration, to authorize the use of electronic flight bags are anticipated to propel the market growth in this region. Asia Pacific is expected to grow the fastest during the forecast period due to the rapid proliferation of aircraft manufacturing. Also, the increasing focus on fuel-efficient solutions and the surge in aircraft fleets in emerging nations like China & India are expected to drive market growth in this region. Additionally, the increasing military aircraft acquisition in developing countries like India is helping to propel the market growth in this region.

North America Region Electronic Flight Bag Market Share in 2023 - 48.35%%

 

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Application segment analysis

The application segment is divided into military, commercial, personal, and others. The commercial segment dominated, with a market share of around 28.11% in 2023. This growth is attributed to the increasing number of airline passengers. Further, by 2031, the military segment will likely dominate the market due to the rising use of military aircraft.

Type segment analysis

The type segment is divided into installed and portable. In 2023, the portable segment dominated the market with the largest market share of 54.23% and market revenue of 1.94 billion. This growth is attributed to the functionality & portability of the product. All portable electronic instruments, including EFBs, should be appropriately assured during the takeoff & landing stages of flight by way of an aircraft mount or a knee-pad style instrument. It must be identified that the prospect of personal injury to the pilot & passengers is a paramount consideration.

Component segment analysis

The component segment is divided into software and hardware. In 2023, the hardware segment dominated the market, accounting for around 55.16% of global revenue. This growth is attributed to the increased disposable income. Further, by 2031, the software segment will likely dominate the market due to the substantial progress in the method's software, developers are concentrating on including aircraft cockpit functions into the electronic flight bag suits. 

Some of the Key Market Players:
  • Astronautics Corporation of America
  • Airbus SAS
  • Collins Aerospace
  • CMC Electronics Inc.
  • Esterline CMC Electronics
  • DAC International Inc.
  • International Flight Support
  • Flightman
  • Teledyne Controls LLC
  • Honeywell International Inc.
  • Lufthansa Systems
  • Rockwell Collins Inc.
  • L3Harris Technologies Inc.
  • The Boeing Company
  • Thales Group
  • Navarro AB

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 3.59 Billion
Market size value in 2031 USD 8.25 Billion
CAGR (2023 to 2031) 10.94%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2031
Regional Segments The key regions are North America, South America, Europe, Asia Pacific, and Middle East & Africa.
Segments Key Segments are application, type, component, and regions

Frequesntly Asked Questions

North American region emerged as the largest market for electronic flight bag.

The market's growth will be influenced by the increasing demand for portable EFBs.

The lack of experience among pilots could hamper the market growth.

The technological advancements will provide huge opportunities to the market.

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

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Application
          4.3.2. Market Attractiveness Analysis By Type
          4.3.3. Market Attractiveness Analysis By Component
          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 for portable EFBs
          5.2.2. The growing importance of electronic flight bags in efficient operations of aircraft
          5.2.3. The growing demand for next-generation aircraft
    5.3. Restraints
          5.3.1. The lack of experience among pilots
          5.3.2. The high cost
    5.4. Opportunities
          5.4.1. The technological advancements
          5.4.2. The rapid digitalization of the aviation sector

6. Global Electronic Flight Bag Market Analysis and Forecast, By Application
    6.1. Segment Overview
    6.2. Military
    6.3. Commercial
    6.4. Personal
    6.5. Others

7. Global Electronic Flight Bag Market Analysis and Forecast, By Type
    7.1. Segment Overview
    7.2. Installed
    7.3. Portable

8. Global Electronic Flight Bag Market Analysis and Forecast, By Component
    8.1. Segment Overview
    8.2. Software
    8.3. Hardware

9. Global Electronic Flight Bag 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 Electronic Flight Bag Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Electronic Flight Bag 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. Astronautics Corporation of America
          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. Airbus SAS
          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. Collins Aerospace
          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. CMC Electronics Inc.
          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. Esterline CMC Electronics
          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. DAC International Inc.
          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. International Flight Support
          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. Flightman
          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. Teledyne Controls LLC
          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. Honeywell International Inc.
          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
    11.11. Lufthansa Systems
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Rockwell Collins Inc.
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. L3Harris Technologies Inc.
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. The Boeing Company
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Thales Group
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Product Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis
    11.16. Navarro AB
          11.16.1. Business Overview
          11.16.2. Company Snapshot
          11.16.3. Company Market Share Analysis
          11.16.4. Company Product Portfolio
          11.16.5. Recent Developments
          11.16.6. SWOT Analysis
 

List of Table

1. Global Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

2. Global Military, Electronic Flight Bag Market, By Region, 2019-2031 (USD Billion) 

3. Global Commercial, Electronic Flight Bag Market, By Region, 2019-2031 (USD Billion) 

4. Global Personal, Electronic Flight Bag Market, By Region, 2019-2031 (USD Billion) 

5. Global Others, Electronic Flight Bag Market, By Region, 2019-2031 (USD Billion) 

6. Global Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

7. Global Installed, Electronic Flight Bag Market, By Region, 2019-2031 (USD Billion)

8. Global Portable, Electronic Flight Bag Market, By Region, 2019-2031 (USD Billion)

9. Global Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

10. Global Software, Electronic Flight Bag Market, By Region, 2019-2031 (USD Billion)

11. Global Hardware, Electronic Flight Bag Market, By Region, 2019-2031 (USD Billion)

12. North America Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

13. North America Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

14. North America Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

15. U.S. Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

16. U.S. Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

17. U.S. Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

18. Canada Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

19. Canada Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

20. Canada Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

21. Mexico Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

22. Mexico Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

23. Mexico Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

24. Europe Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

25. Europe Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

26. Europe Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

27. Germany Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

28. Germany Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

29. Germany Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

30. France Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

31. France Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

32. France Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

33. U.K. Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

34. U.K. Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

35. U.K. Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

36. Italy Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

37. Italy Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

38. Italy Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

39. Spain Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

40. Spain Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

41. Spain Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

42. Asia Pacific Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

43. Asia Pacific Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

44. Asia Pacific Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

45. Japan Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

46. Japan Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

47. Japan Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

48. China Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

49. China Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

50. China Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

51. India Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

52. India Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

53. India Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

54. South America Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

55. South America Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

56. South America Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

57. Brazil Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

58. Brazil Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

59. Brazil Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

60. Middle East and Africa Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

61. Middle East and Africa Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

62. Middle East and Africa Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

63. UAE Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

64. UAE Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

65. UAE Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

66. South Africa Electronic Flight Bag Market, By Application, 2019-2031 (USD Billion)

67. South Africa Electronic Flight Bag Market, By Type, 2019-2031 (USD Billion)

68. South Africa Electronic Flight Bag Market, By Component, 2019-2031 (USD Billion)

List of Figures 

1. Global Electronic Flight Bag Market Segmentation

2. Global Electronic Flight Bag Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top- Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Electronic Flight Bag Market Attractiveness Analysis By Application

9. Global Electronic Flight Bag Market Attractiveness Analysis By Type 

10. Global Electronic Flight Bag Market Attractiveness Analysis By Component

11. Global Electronic Flight Bag Market Attractiveness Analysis By Region

12. Global Electronic Flight Bag Market: Dynamics

13. Global Electronic Flight Bag Market Share By Application (2023 & 2031)

14. Global Electronic Flight Bag Market Share By Type (2023 & 2031)

15. Global Electronic Flight Bag Market Share By Component (2023 & 2031)

16. Global Electronic Flight Bag Market Share By Regions (2023 & 2031)

17. Global Electronic Flight Bag Market Share By Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2031. The Brainy Insights has segmented the global electronic flight bag based on below mentioned segments:

Global Electronic Flight Bag Market by Polymer:

  • Military
  • Commercial
  • Personal
  • Others

Global Electronic Flight Bag Market by Type:

  • Installed
  • Portable

Global Electronic Flight Bag Market by Component:

  • Software
  • Hardware

Global Electronic Flight Bag 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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