English Language Learning Market

English Language Learning Market Size by End User (Corporate Learners, Individual Users, Educational Institutions, & Government Institutions), Methodology (Online Learning, Offline/Classroom Learning, & Blended Learning), Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12711
  • Published Date: Sep, 2024
  • Pages: 236
  • Category: Consumer Goods
  • Format: PDF
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The global English language learning market is expected to reach USD 41.87 billion by 2033, at a CAGR of 12.6% from 2024 to 2033. English language learning market growth would be driven by the increasing adoption of the English language for business communications, the rising number of students opting to study abroad, which requires having fluency in English & the growing importance of English to further career prospects. Although standard Cantonese/Mandarin and Spanish have the most native speakers worldwide, English is still widely used as both a second and official language. It has become increasingly important in trade and business over the past decade. Therefore, having exceptional skills in Business English has become crucial for anyone seeking success in their career path. Enhanced communication abilities can open doors to better social connections and career opportunities later. Excellent command of spoken English facilitates efficient expression at work - a vital skill during job interviews and daily operations - leading to increased clarity when communicating ideas with co-workers or clients.

Market Overview:

The English language is regarded as the most dominant language globally. The English language is Indo-European. The native language of western & southern Eurasia is known as the Indo-European language. Most parts of Europe, the northern Indian sub-continent & the Iranian plateau are the origins of the Indo-European language. English is the primary language of the U.S., Canada, Ireland, New Zealand, Australia, Britain, and the Caribbean & the Pacific islands in the contemporary world. English is the mother tongue of around 0.35 billion people. It is the state's official language in countries like India, the Philippines, and South Africa. English is the preferred second language by individuals globally, making it the world's lingua franca. This dominance of the English language can be attributed to its use as the primary language in international communications, be it in business, research, medicine, commerce, diplomacy, entertainment, or the internet. Also, England has native English speakers, and during the reign of the British empire, the English language traveled the world with English officials. The British rule established the English language as a dominant language of trade & commerce. After the fall of the British Empire, the use of the English language for business & legislative communications continued for the sake of continuity and convenience in work. This trend continued even after decades, owing to the growing English-speaking population.

English Language Learning Market Size

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Market Dynamics:

Drivers
  • Increasing adoption of English as the primary language in the global economy

English is the language of business, commerce, science, aviation, computers, the internet, diplomacy & tourism. The knowledge of reading and writing English increases the chances to develop a career in any of the fields mentioned earlier, allowing one to exploit the best opportunities available & advances one’s professional career. The world has globalized with the advent of the internet & the language of the internet is English. Knowing the English language allows one to access the internet, which is imperative in today's globalized world. The entertainment & media industry uses English as its primary language. Both media and entertainment are vital to every individual, and the knowledge of English enables a fulfilling experience of these sectors.

  • Rising number of students opting to study abroad

The deficit supply of quality education in developing nations has increased the number of students studying abroad. Most students choose to study in colleges based in countries that have English as their primary language. These countries have the best institutions globally and hence are in huge demand. The students who want to study in these institutions have to give an English proficiency test (ILETS, TOEFL), which evaluates the English speaking & writing ability of the individual. Understanding English is vital for staying & studying in these countries, which is likely to drive the market for English language learning.

Restraints:
  • Difficulty in learning the English language

Many individuals find learning English a challenging prospect. The countryside population in the developing economies finds no reason to learn English as they have no use for it. These misplaced ideas are restricting the growth of the English language learning market.

Opportunities:
  • Application of artificial intelligence

Increased research and innovations have widened the scope of artificial intelligence (AI) applications. The use of AI in English language learning will help make learning a personalized experience. These intelligent applications will create voice recognition systems & conceptualized videos that enable longer memory retention. The interactive nature of learning is an added advantage as the increased engagement helps in boosting the confidence of an individual. Digital learning also allows learning at one's own pace. Such benefits will attract more learners and provide lucrative opportunities for the market.

Challenges:
  • Poor privacy and data security laws

Many cyber-attacks follow with the increased number of online users. The digital English language learning industry faces data security threats. The lack of preventive and protective measures leaves the users vulnerable to personal data leakage, data theft, fraudulent practices. The demand for learning the English language attracts individuals from all walks of life, from children to working professionals. The leakage of sensitive personal information is an infringement of a person's right to privacy. Loss of money in some cases can keep potential customers away from this market.

Segmentation Analysis:

The global english language learning market has been segmented based on end-user, methodology, and regions.

  • The end-user segment is divided into corporate learners, individual users, educational institutions, & government institutions. The individual users dominated the market, with a market share of around 45% in 2023. The increasing adoption of personal smartphones & gadgets, rising internet penetration, and the growing number of online English language teaching applications can be attributed to the dominance of individual learners in the market. Online/digital apps allow the individual to learn at one's own pace; it is accessible anytime & anywhere, it is convenient and affordable. One-on-one learning is comfortable as it enables individuals to make mistakes without the fear of judgment.

The methodology segment is divided into online learning, offline/classroom learning, & blended learning. Over the forecast period, the online learning segment is expected to grow at the fastest CAGR of 13.2%. The growing demand for personalized learning at one's own pace, with on-demand accessibility within an affordable range, will drive the growth for this segment. The use of artificial intelligence has facilitated the development of engaging and interactive lessons; this will make learning fun and attract hesitant learners, which will enable market expansion.

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 largest market for the global English language learning market, with a 33.2% share of the market revenue in 2023.

North American region English Language Learning Market Share in 2023 - 33.2%

 

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  • The North American region currently dominates the English language learning market due to the increased government spending on the development of English language learning platforms for users. Asia-Pacific is expected to grow the fastest in the forecast period due to increasing internet users and rising adoption of smart & connected devices.
Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global English language learning industry.

A significant market player of the English language learning market Busuu Ltd. recently launched a new course. This course enables the learners to learn English through integrated news pieces in the curriculum. The news pieces are taken from The New York Times and The Economist. This new version helps the learners actively engage in discussions on current events. Active engagement and interaction are proven methods of retaining any content & developing long-term memory.

List of Key Market Players:
  • Cambridge University Press
  • Rosetta Stone Inc.
  • Sanako Corporation
  • Duolingo Inc.
  • Busuu Ltd.
  • McGraw-Hill Education Inc.
  • Houghton Mifflin Harcourt
  • Memrise Inc.
  • Transparent Language Inc.
  • New Oriental Education & Technology Group
Key Target Audience
  • Educational Institutions
  • Corporate Institutions
  • Market Players
  • Investors
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
Report Description:
  • Global English language learning market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2023 is considered as the base year of the report. 2020, 2021 and 2022 are the historic years, and 2024 to 2033 are the forecast years. The global English language learning market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each segment, region, and country catering to the global English language learning market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of English language learning based on end-user, methodology, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global English language learning market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global English language learning market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter's five forces analysis coupled with SWOT analysis to provide business related data and information. Porter's five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related, i.e., global English language learning market) is covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the English language learning market was valued at USD 12.78 Billion in 2023 to USD 41.87 Billion by 2033.

Global English language learning market is growing at a CAGR of 12.6% during the forecast period 2024-2033.

The global English language learning market has been segmented based on end user, methodology, and regions. The individual users segment led the market in 2023. The online learning segment is projected to witness highest growth during the forecast period.

North America region emerged as the largest market for the English language learning.

The market's growth will be influenced by Increasing adoption of English as the primary language learning of the global economy and the rising number of students option to study abroad.

Difficulty in learning the English language could hamper the market growth.

Application of artificial intelligence in English language learning industry 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 End User
          4.3.2. Market Attractiveness Analysis by Methodology
          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 adoption of English as the primary language in the global economy
          5.2.2. Rising number of students option to study abroad
    5.3. Restraints
          5.3.1. Difficult in learning the English language
    5.4. Opportunities
          5.4.1. Application of artificial intelligence
    5.5. Challenges
          5.5.1. Poor privacy and data security laws

6. Global English Language Learning Market Analysis and Forecast, By End User
    6.1. Segment Overview
    6.2. Corporate Learners
    6.3. Individual Users
    6.4. Educational Institutions
    6.5. Government Institutions

7. Global English Language Learning Market Analysis and Forecast, By Methodology
    7.1. Segment Overview
    7.2. Online Learning
    7.3. Offline/Classroom Learning
    7.4. Blended Learning

8. Global English Language Learning 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 English Language Learning Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the English Language Learning 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. Cambridge University Press
          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. Rosetta Stone Inc.
          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. Sanako Corporation
          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. Duolingo Inc.
          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. Busuu Ltd.
          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. McGraw-Hill Education Inc.
          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. Houghton Mifflin Harcourt
          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. Memrise Inc.
          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. Transparent Language Inc.
          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. New Oriental Education & Technology Group
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Component Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis

List of Table

1. Global English Language Learning Market, By End User, 2020-2033 (USD Billion) 

2. Global Corporate Learners English Language Learning Market, By Region, 2020-2033 (USD Billion) 

3. Global Individual Users English Language Learning Market, By Region, 2020-2033 (USD Billion) 

4. Global Educational Institutions English Language Learning Market, By Region, 2020-2033 (USD Billion) 

5. Global Government Institutions English Language Learning Market, By Region, 2020-2033 (USD Billion) 

6. Global English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

7. Global Online Learning English Language Learning Market, By Region, 2020-2033 (USD Billion) 

8. Global Offline/Classroom Learning English Language Learning Market, By Region, 2020-2033 (USD Billion) 

9. Global Blended Learning English Language Learning Market, By Region, 2020-2033 (USD Billion) 

10. Global English Language Learning Market, By Region, 2020-2033 (USD Billion) 

11. North America English Language Learning Market, By End User, 2020-2033 (USD Billion) 

12. North America English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

13. U.S. English Language Learning Market, By End User, 2020-2033 (USD Billion) 

14. U.S. English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

15. Canada English Language Learning Market, By End User, 2020-2033 (USD Billion) 

16. Canada English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

17. Mexico English Language Learning Market, By End User, 2020-2033 (USD Billion) 

18. Mexico English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

19. Europe English Language Learning Market, By End User, 2020-2033 (USD Billion) 

20. Europe English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

21. Germany English Language Learning Market, By End User, 2020-2033 (USD Billion) 

22. Germany English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

23. France English Language Learning Market, By End User, 2020-2033 (USD Billion) 

24. France English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

25. U.K. English Language Learning Market, By End User, 2020-2033 (USD Billion) 

26. U.K. English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

27. Italy English Language Learning Market, By End User, 2020-2033 (USD Billion) 

28. Italy English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

29. Spain English Language Learning Market, By End User, 2020-2033 (USD Billion) 

30. Spain English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

31. Asia Pacific English Language Learning Market, By End User, 2020-2033 (USD Billion) 

32. Asia Pacific English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

33. Japan English Language Learning Market, By End User, 2020-2033 (USD Billion) 

34. Japan English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

35. China English Language Learning Market, By End User, 2020-2033 (USD Billion) 

36. China English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

37. India English Language Learning Market, By End User, 2020-2033 (USD Billion) 

38. India English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

39. South America English Language Learning Market, By End User, 2020-2033 (USD Billion) 

40. South America English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

41. Brazil English Language Learning Market, By End User, 2020-2033 (USD Billion) 

42. Brazil English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

43. Middle East and Africa English Language Learning Market, By End User, 2020-2033 (USD Billion) 

44. Middle East and Africa English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

45. UAE English Language Learning Market, By End User, 2020-2033 (USD Billion) 

46. UAE English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

47. South Africa English Language Learning Market, By End User, 2020-2033 (USD Billion) 

48. South Africa English Language Learning Market, By Methodology, 2020-2033 (USD Billion) 

List of Figures 

1. Global English Language Learning Market Segmentation

2. English Language Learning 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 English Language Learning Market Attractiveness Analysis by End User

9. Global English Language Learning Market Attractiveness Analysis by Methodology

10. Global English Language Learning Market Attractiveness Analysis by Region

11. Global English Language Learning Market: Dynamics

12. Global English Language Learning Market Share by End User (2023 & 2033)

13. Global English Language Learning Market Share by Methodology (2023 & 2033)

14. Global English Language Learning Market Share by Methodology (2023 & 2033)

15. Global English Language Learning Market Share by Regions (2023 & 2033)

16. Global English Language Learning 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 English language learning market based on below mentioned segments:

Global English language Learning Market by End User:

  • Corporate Learners
  • Individual Users
  • Educational Institutions
  • Government Institutions

Global English Language Learning Market by Methodology:

  • Online Learning
  • Offline/Classroom Learning
  • Blended Learning

Global English Language Learning 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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