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Event Management Software Market

Event Management Software Market Size by Type (Software, Services), Deployment (Cloud, On premises), Organization Size, End Use Industry, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12624
  • Published Date: Nov, 2021
  • Pages: 239
  • Category: Information Technology & Semiconductors
  • Format: PDF
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Global event management software market is anticipated to reach USD 9.18 billion by 2030, at a CAGR of 6.24% from 2021 to 2030. Rising adoption of the event management software for the management of various events in the sports, entertainment, and gaming sectors is driving the demand for the event management software.

Market Overview:

Event management software is a solution that assists the event planners and organizers in planning all the aspects of the events, from registration, promotion, integration, engagement, and check-in to reporting. The event management software integrates all the tools into a single platform, which are required to plan the event successfully. Some end-to-end event management software covers the entire lifecycle of events from planning to post-event. Some of the key features of event management software are audience polling, online payment, registration, fundraising, reserved seating, etc. The software is generally used by B2B and B2C professional events. The events include but not limited to are networking events, trade shows, round-tables, industry conferences, user conferences, expositions, and internal training.

Event management software is the comprehensive tool that helps the event organizers to find the best venue that fits in the budget, track expenses, improve overall efficiency, and calculate the ROI of the overall event. It also automates the event of the corporate sector. Moreover, the software is also able to integrate with other applications such as finance or lead management. It stores the information and can monitor the entire event planning. The platform allows the event planners to collaborate on conceptualizing and realizing their events and workflows effectively.

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Market Dynamics:

Drivers:
  • Growing number of SMEs in Asia Pacific region

More than 90% of the total enterprises are small and medium organizations in the Asia Pacific region. In addition to this, there are more than 70 million SMEs present in Southeast Asia. SMEs are becoming more and more competitive each day. Therefore, companies are planning and organizing events to gain actionable insights about the customers. Hence, the growing number of SMEs in the Asia Pacific region is propelling the growth of event management software.

  • Increasing investment in the events

With the rising competition in the market, the companies of all the industry verticals are focusing on gaining insights from the events. With the rising event management, the companies also want to gain insights from the post-event engagement. The event management software helps the companies to gain actionable data and real-time data from the events. In addition to this, the software helps to analyze customer behavior, engagement, and involvement in the events. Therefore, rising investment in events across the globe is driving the market's growth over the forecast period.

Restraints:
  • Availability of limited designs

The available designs of the event management software are very basic and limited in the market. In addition to this, some of the event management software supports only limited aspects of the events. Some of the software is also very difficult to integrate with other key business systems. The difficulty in integration leads to data silos, which reduces the organization's capability. Therefore, the availability of limited designs of event management software may restrain the market's growth over the forecast period.

Opportunities:
  • Increasing adoption of the gamification

The event gamification uses the gaming features such as badges, leader boards, goals, and points to increase event engagement. Gamification raises collaboration and participation among individuals. Incorporating gamification in the events improves customer engagement, loyalty, and advocacy. Many event planners want to include gamification into their events. However, they often don’t know from where to start how to incorporate gamification into their events. The event management software helps the events planners to incorporate gamification in the event. Therefore, the rising adoption of gamification in the events is anticipated to offer various growth opportunities over the forecast period.

Challenges:
  • High price of event management software

The overall cost and price of event management software is very high, which may hamper the growth of the market over the forecast period. There are high subscription fees and set up fees for the event management software. Due to budget constraints, the smaller organizations hesitate to install the event management software. In addition to this, some important integrations come with the high pricing package.

Segmentation Analysis:

The global event management software market has been classified based on type, deployment, organization size, end use industry, and regions.

  • The type segment is divided into software and services. The service segment is further classified into professional services and managed services. The software segment dominated the global event management market and held the largest market share of 64.87% over the forecast period. The rising adoption of software solutions in various end-use industries is boosting the growth of the software segment. The software helps the companies to organize the events successfully. 
  • The deployment type segment includes on-premise and cloud. The on-premise segment accounted for the largest market share of 74.65% in the year 2020. The on-premise event management software refers to installing software in the organization's premises rather than the remote facility. High security and lower total cost of ownership are some of the factors driving the growth of the on-premise segment. However, the rising adoption of cloud-based event management software could affect the growth of the on-premise software deployment over the forecast period.
  • The organization size segment is divided into SMEs and large enterprises. The SMEs segment is estimated to grow at the highest CAGR of 8.05% over the forecast period. The rising focus of the small and medium-size organizations to increase overall productivity is driving the adoption of event management software among SMEs.
  • The end-use industry segment is divided into government, corporate, education, media and entertainment, event planners, and others. The event planners segment held a major market share of 35.89% in the year 2020. Event planners have to execute more events as compared to in-house events. Therefore, event management software is beneficial for event planners. 
Regional Segmentation Analysis:

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The North America region accounted for the largest market share of global event management software market, with a 43.69% share of the market revenue in 2020.

  • North America held the dominant position in the global event management software market. This is mainly due to the presence of many key players of event management software in the countries such as the U.S. and Canada. In addition to this, matured entertainment and media industry of the region further contributes to the market's growth.
  • The Asia Pacific region is anticipated to grow at the highest CAGR of 9.5% over the forecast period. This is mainly due to the growing number of small and medium-size companies in countries such as India and China. Furthermore, the rising popularity of event management software in the region further boosted the growth of the Asia Pacific region.

North America Event Management Software Market Share in 2020 - 43.69%

 

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Competitive Analysis:

The key companies of the global event management software market are adopting the various strategies such as mergers & acquisitions, collaborations, and geographical expansion to gain the significant market share in the global event management software industry.

In September 2021, Aventri announced the launch of the event management solution for small meetings and events. Dubbed Express Events, the solution uses the templates which will allow the event planners to plan the events in five clicks.

In May 2021, Bizzabo announced the introduction of a new Event Experience category and operating system (OS) to make the more creative and personalized events for the event attendees.

List of Key Market Players:

  • Aventri
  • RainFocus
  • Eventbrite
  • Bizzabo
  • Certain
  • Ungerboeck Software
  • Attendify
  • Cvent
  • XING Events
  • ACTIVE Networks

Key Target Audience

  • Software Vendors
  • Application developers
  • Service Providers
  • Potential Investors
  • Value Added Resellers

Report Description:

  • Global Event management software Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2030 are the forecast years. The global Event management software market is based on revenue (USD Million/Billion), and price. The report incorporates the market study on the basis of revenue and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global event management software 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 with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of countries and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to 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 event management software market. This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global event management software 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 so as to provide business related data and information’s. 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 growth and development in order 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 products (market related i.e., global event management software market is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the event management software market was valued at USD 5.1 billion in 2020 and is anticipated to reach USD 9.18 billion by 2030.

Global event management software market is growing at a CAGR of 6.24% during the forecast period 2021-2030.

The global event management software market has been segmented based on type, deployment, organization size, end use industry, and regions. The software segment led the event management software market.

The North America region emerged as the largest market for the event management software.

The rising automation of event planning is one of the key contributing factors for the growth of market.

The lack of awareness about event management software could hamper the growth of the market over the forecast period.

Rising gamification in the events is expected to offer the future growth opportunity in the market.

Key players are Aventri, RainFocus , Eventbrite, Bizzabo, Certain, Ungerboeck Software, Attendify, Cvent, XING Events, and ACTIVE Networks among others.

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
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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 Deployment
          4.3.3. Market Attractiveness Analysis By Organization Size
          4.3.4. Market Attractiveness Analysis By End Use Industry
          4.3.5. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Growing use of social media for event marketing
          5.2.2. Increasing adoption of advanced data analytics solutions
    5.3. Restrains
          5.3.1. High installation cost
    5.4. Opportunities
          5.4.1. Rising gamification in the events
    5.5. Challenges
          5.5.1. Lack of awareness of event management software

6. Global Event Management Software Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Software
    6.3. Services

7. Global Event Management Software Market Analysis and Forecast, By Deployment
    7.1. Segment Overview
    7.2. On-Premise
    7.3. Cloud

8. Global Event Management Software Market Analysis and Forecast, By Organization Size
    8.1. Segment Overview
    8.2. SMEs
    8.3. Large Enterprises

9. Global Event Management Software Market Analysis and Forecast, By End Use Industry
    9.1. Segment Overview
    9.2. Government
    9.3. Corporate
    9.4. Education
    9.5. Media And Entertainment
    9.6. Event Planners
    9.7. Others

10. Global Event Management Software Market Analysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Event Management Software Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Event Management Software Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. Aventri
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Product Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. RainFocus
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Product Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. Eventbrite
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Product Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. Bizzabo
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Product Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. Certain
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Product Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. Ungerboeck Software
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Product Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. Attendify
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Product Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. Cvent
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Product Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. XING Events
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Product Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. ACTIVE Networks
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Product Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis
 

List of Table

1. Global Event Management Software Market, By Type, 2018–2030 (USD Billion)

2. Global  Software, Event Management Software  Market, By Region, 2018–2030 (USD Billion)

3. Global Services, Event Management Software Market, By Region, 2018–2030 (USD Billion)

4. Global Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

5. Global On-Premise Market, By Region, 2018–2030 (USD Billion)

6. Global Cloud, Event Management Software Market, By Region, 2018–2030 (USD Billion)

7. Global Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

8. Global SMEs Event Management Software Market, By Region, 2018–2030 (USD Billion)

9. Global Large Enterprises Event Management Software Market, By Region, 2018–2030 (USD Billion)

10. Global Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

11. Global Government Event Management Software Market, By Region, 2018–2030 (USD Billion)

12. Global Corporate Event Management Software Market, By Region, 2018–2030 (USD Billion)

13. Global media and entertainment Event Management Software Market, By Region, 2018–2030 (USD Billion)

14. Global Event Planners Event Management Software Market, By Region, 2018–2030 (USD Billion)

15. Global Others Event Management Software Market, By Region, 2018–2030 (USD Billion)

16. Global Event Management Software Market, By Region, 2018–2030 (USD Billion)

17. North America Event Management Software Market, By Type, 2018–2030 (USD Billion)

18. North America Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

19. North America Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

20. North America Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

21. U.S. Event Management Software Market, By Type, 2018–2030 (USD Billion)

22. U.S. Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

23. U.S. Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

24. U.S. Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

25. Canada Event Management Software Market, By Type, 2018–2030 (USD Billion)

26. Canada Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

27. Canada Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

28. Canada Event Management Software Market, By End Use Industry 2018–2030 (USD Billion)

29. Mexico Event Management Software Market, By Type, 2018–2030 (USD Billion)

30. Mexico Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

31. Mexico Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

32. Mexico Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

33. Europe Event Management Software Market, By Type, 2018–2030 (USD Billion)

34. Europe Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

35. Europe Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

36. Europe Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

37. Germany Event Management Software Market, By Type, 2018–2030 (USD Billion)

38. Germany Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

39. Germany Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

40. Germany Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

41. France Event Management Software Market, By Type, 2018–2030 (USD Billion)

42. France Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

43. France Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

44. France Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

45. U.K. Event Management Software Market, By Type, 2018–2030 (USD Billion)

46. U.K. Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

47. U.K. Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

48. U.K. Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

49. Italy Event Management Software Market, By Type, 2018–2030 (USD Billion)

50. Italy Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

51. Italy Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

52. Italy Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

53. Spain Event Management Software Market, By Type, 2018–2030 (USD Billion)

54. Spain Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

55. Spain Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

56. Spain Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

57. Asia Pacific Event Management Software Market, By Type, 2018–2030 (USD Billion)

58. Asia Pacific Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

59. Asia Pacific Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

60. Asia Pacific Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

61. Japan Event Management Software Market, By Type, 2018–2030 (USD Billion)

62. Japan Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

63. Japan Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

64. Japan Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

65. China Event Management Software Market, By Type, 2018–2030 (USD Billion)

66. China Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

67. China Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

68. China Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

69. India Event Management Software Market, By Type, 2018–2030 (USD Billion)

70. India Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

71. India Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

72. India Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

73. South America Event Management Software Market, By Type, 2018–2030 (USD Billion)

74. South America Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

75. South America Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

76. South America Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

77. Brazil Event Management Software Market, By Type, 2018–2030 (USD Billion)

78. Brazil Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

79. Brazil Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

80. Brazil Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

81. Middle East and Africa Event Management Software Market, By Type, 2018–2030 (USD Billion)

82. Middle East and Africa Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

83. Middle East and Africa Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

84. Middle East and Africa Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

85. UAE Event Management Software Market, By Type, 2018–2030 (USD Billion)

86. UAE Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

87. UAE Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

88. UAE Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

89. South Africa Event Management Software Market, By Type, 2018–2030 (USD Billion)

90. South Africa Event Management Software Market, By Deployment, 2018–2030 (USD Billion)

91. South Africa Event Management Software Market, By Organization Size, 2018–2030 (USD Billion)

92. South Africa Event Management Software Market, By End Use Industry, 2018–2030 (USD Billion)

List of Figures 

1. Global Event Management Software Market Segmentation

2. Event Management Software 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 Event Management Software Market Attractiveness Analysis By Type

9. Global Event Management Software Market Attractiveness Analysis By Deployment

10. Global Event Management Software Market Attractiveness Analysis By Organization Size

11. Global Event Management Software Market Attractiveness Analysis By End Use Industry

12. Global Event Management Software Market Attractiveness Analysis By Region

13. Global Event Management Software Market: Dynamics

14. Global Event Management Software Market Share By Type(2021 & 2030)

15. Global Event Management Software Market Share By Deployment(2021 & 2030)

16. Global Event Management Software Market Share By Organization Size(2021 & 2030)

17. Global Event Management Software Market Share By  End Use Industry(2021 & 2030)

18. Global Event Management Software Market Share by Regions (2021 & 2030)

19. Global Event Management Software Market Share by Company (2021)

This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2030. The Brainy Insights has segmented the global Event Management Software market on the basis of below mentioned segments:

Global Event Management Software Market by Type:

  • Software
  • Services
    • Professional Services
    • Managed Services

Global Event Management Software Market by Deployment:

  • Cloud
  • On premises

Global Event Management Software Market by Organization Size:

  • Small and Medium-sized Enterprises (SMEs)
  • Large Enterprises

Global Event Management Software Market by End Use Industry:

  • Government
  • Education
  • Corporate
  • Media and Entertainment
  • Event Planners
  • Other

 Global Event Management Software 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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