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Geographic Information System Market

Geographic Information System Market Size by Component (Hardware, Software and Services), Function (Mapping, Surveying, Location-Based Services, Telematics and Navigation and Others), End-User (Agriculture, Architecture, Building and Construction, Utilities, Retail, Energy, Transportation, Mining, Urban Planning, Healthcare, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13660
  • Published Date: Aug, 2023
  • Pages: 238
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global geographic information system market was valued at USD 9 billion in 2022 and grew at a CAGR of 13% from 2023 to 2032. The market is expected to reach USD 30.55 billion by 2032. Rapid urbanization will drive the growth of the global geographic information system market.

Market Introduction:

Geography is the study of the Earth. Information about geography would contain the various structures on Earth like mountains, roads, beaches, water bodies, people and buildings, among many other things. A geographic information system enables the collection, storage, modification and use of geographical information for efficient administration, effective policy decision making and spreading awareness and knowledge about the spatial distribution of the Earth. A geographic information system requires seamless integration of hardware, software, people, data and methods to deliver objectives of efficient decision-making. A geographic information system has two categories of data, one being spatial data which includes the location, boundaries and route, among other things. The second isis non-spatial data, attributes like the geographical area, distance, or population within a territory. Better spatial information enables better decision-making, which ensures optimal use of resources, reduces costs, and prevents unnecessary waste of time, money and effort. It also paves the way for better project development which is sustainable and environmentally friendly. It enables recording and analysing the changes in land use patterns, which creates transparent, accountable and efficient resource management. Information management. GIS is a crucial tool for managing disaster recovery and emergency response. GIS has applications in agriculture, urban planning, disaster management, mobility planning, tourism and the energy sector.

Geographic Information System Market Size

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Recent Development
  • June 2023 - The national roads business of Israel is starting a massive, lengthy initiative to digitise its entire network. The contract to map the northern part of the network using cutting-edge GIS software, UAVs, and 360-degree mobile mapping cameras has been given to surveying company Kav Medida. The resulting digitalized maps will significantly improve road maintenance and monitoring accuracy and effectiveness in Israel. High-resolution digitised maps are created using exact measurements and comprehensive data regarding roadway features through orthophoto, aerial imagery, and ground-based 360° mobile mapping. The accuracy of the current GIS system will be enhanced using a cutting-edge GIS-based methodology.

Market Dynamics:

Drivers

Rapid urbanization – the rapid urbanization driven by the rising population, increasing disposable income and growing fiscal infrastructural expenditure has increased the need for efficient urban planning. The growth of unplanned urban clusters has led to several problems like congestion, pollution, overcrowding, and a high cost of living, which is why planning new cities and revamping old ones for a better quality of life is important. The introduction of smart cities with efficient urban mobility and transportation, digital infrastructure, and sustainable land distribution with easy access to urban utilities has become a priority for governments globally. Geographic information systems enable better decision-making for planning urban cities by offering spatial information. They cost-effectively enable informed decisions. They prevent the wastage of resources by enabling optimum utilization of available land. Using GIS to design urban mobility solutions based on population density, office spaces, distances, and topography enables authorities to deliver a seamless transport network for the citizens while ensuring minimal damage to the surrounding environment. GIS enables proactive planning by predicting growth status and changes that may take place in the future. Therefore, rapid urbanization will grow the global geographic information system market.

  • April 2023 - Through geographic information system (GIS) mapping, the Ludhiana Municipal Corporation (MC), India, has included all 4.34 lakh properties inside its boundaries. With this, Ludhiana has become the first to use the GIS mapping system, which creates, manages, analyses, and maps all kinds of data. The GIS has linked all property-related data to a map, merging location data, which indicates where the properties are located, with various forms of descriptive data describing the nature and state of every property. The GIS system would make data and details about any property located within the MC borders easily accessible at the click of a mouse, in addition to helping to further streamline the property tax assessment and recovery mechanism.
Restraints:

The high costs of geographic information systems – the extensive geographical data is collected through satellites or drones, and it takes hours of surveying, mapping, and locating to create a GIS database. The non-spatial information requires research, data collection, processing and verification to integrate authentic information for consumer use. The hardware, software and methods used for geographic information systems are sophisticated, thereby, costly. Small businesses or other stakeholders with limited finance cannot afford GIS systems. Therefore, the high cost of geographic information systems will restrict the market's growth.

Opportunities:

The increasing applications of GIS – the advancement in technology and the growing automation and digitization of global economies have increased the adoption of GIS. It is now used in agriculture, business, disaster management, forest and environment, tourism, healthcare, energy, education, etc. GIS enables land and soil analysis in agriculture, significantly impacting yields. It enables identifying high-risk zones around fault lines, which helps predict the impact of seismic activity and prevent loss of life, property and capital. It helps business identify their target markets. Therefore, the increasing applications of GIS will offer lucrative opportunities for the market players in the forecast period.

Regional segmentation analysis:

The regions analysed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the most significant global geographic information system market, with a 39% market revenue share in 2022.

The rapidly growing pace of the Asian economies has led to rapid industrialization and urbanization. The rapid growth of agriculture, construction, tourism, manufacturing, and urban agglomerates has contributed to the growing need for GIS to better plan the economies for efficient use of resources for maximum gain. The growing population with limited land resources facilitates innovative developmental ideas that need GIS. The use of GIS for agriculture land mapping to improve yield and its use by environmental institutions to study changing weather events to predict natural disasters are a few examples driving the regional market’s growth.

Asia Pacific Region Geographic Information System Market Share in 2022 - 39%

 

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  • July 2023 - The Special Achievement in GIS (SAG) award for 2023 has been given to the National Remote Sensing Centre (NRSC), ISRO, by the Environmental Systems Research Institute (ESRI). The institute gives out the SAG award each year to honour outstanding GIS technology-related work. As the winner from India, NRSC created a new standard for the GIS community with its exceptional use of GIS technology in landslip inventory. The NRSC is credited with compiling, using satellite data, a thorough geographical database of around 80,000 landslides that occurred in India between 1998 and 2022.
Component type Segment Analysis

The component type segment is divided into hardware, software, and services. The software segment dominated the market, with a market share of around 48% in 2022. A GIS software stores spatial and non-spatial information that can be used according to the users' needs and requirements. The software enables the users to create maps or visualize topographical and any other information for study, analysing, research and presentation. Multiple industry players in the market offer GIS software for use by stakeholders from various sectors like government, academics, agriculture, tourism and other minor private players. The introduction of cloud-based GIS mapping has enabled greater application of GIS software efficiently and cost-effectively.

  • May 2023 - Esri India, a provider of geographic information system (GIS) mapping solutions, has partnered with ideaForge, a manufacturer of drones, to deliver drone solutions with GIS for the Indian market. The two businesses inked a memorandum of understanding (MoU) to consolidate various solution components under one roof and do away with the requirement to work with various providers. The collaboration should increase the use of drones, particularly in industries like agriculture, forestry, mining, transportation, architecture, engineering, and construction (AEC), defence, and utilities.
Function Segment Analysis

The function segment is divided into mapping, surveying, location-based services, telematics and navigation and others. The mapping segment dominated, with a market share of around 39% in 2022. GIS enables information exchange by integrating non-spatial data with maps. The combination of places or objects, or locations with their attributes helps users in their everyday lives. It helps them locate stores, parks, hospitals, streets, parking spaces etc. They also offer information on other attributes like GIS mapping is used in almost all sectors of the economy. For instance, it allows us to analyse the change in land use patterns. It also enables companies to analyse their geographical customer reach. The significantly growing applications of mapping will drive the segment’s growth.

  • August 2023 - The Goa state government will map every property in the state's municipal boundaries using a geographic information system (GIS) to stop income leaks. The GIS mapping project has already begun in North Goa, and South Goa is in the midst of the GIS mapping bidding process. The taxes will be assessed based on the precise area of the property mapped using GIS and verified by the council.
End-user Segment Analysis

The end-user segment is divided into agriculture, architecture, building and construction, utilities, retail, energy, transportation, mining, urban planning, healthcare, and others. The urban planning segment dominated, with a market share of around 29% in 2022. The rapid urbanization of global economies will drive the segment's growth as GIS enables optimal resource management and sustainable and informed decision-making. It offers a comprehensive, exhaustive and varied database to plan, modify and create best land use practices for efficient optimization of resources cost-effectively.

  • June 2023 - The Greater Chennai Police began mapping crime hotspots throughout the city using a Geographic Information System (GIS). Under the Safe City Programme, the Greater Chennai Police started the initiative at the Integrated Command and Control Room (ICCR) to include location intelligence to deter crime throughout the GCP Jurisdiction. A specialised GIS centre has been constructed with the most recent GIS software tools and technologies that assist in compiling data from the Greater Chennai Corporation's Social Welfare Department, the Crime and Criminal Tracking Network and Systems (CCTNS), daily service registrations, daily incident reports, and other important data sets.
Some of the Key Market Players:
  • Autodesk, Inc.
  • Bentley Systems
  • Caliper Corporation
  • Computer Aided Development Corporation Ltd.
  • Esri
  • General Electric Co.
  • Hexagon AB
  • L3Harris Technologies
  • Pitney Bowes Inc.
  • Trimble Inc.

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 9 Billion
Market size value in 2032 USD 30.55 Billion
CAGR (2023 to 2032) 13%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analysed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Component Type, Function and End-User

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global geographic information system market was valued at USD 9 billion in 2022 to USD 30.55 billion by 2032.

Global geographic information system market is growing at a CAGR of 13% during the forecast period 2023-2032.

The market's growth will be influenced by the rapid urbanization.

The high-costs of geographic information system could hamper the market growth.

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  • Segmentation on the basis of any specific country or region
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  • Application segment can be further divided on the basis of companies
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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 Component
          4.3.2. Market Attractiveness Analysis by Function
          4.3.3. Market Attractiveness Analysis by End User
          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. Rapid urbanization
    5.3. Restraints
          5.3.1. The high costs of geographic information system
    5.4. Opportunities
          5.4.1. The increasing applications of GIS
    5.5. Challenges
          5.5.1. complex integration mechanism

6. Global Geographic Information System Market Analysis and Forecast, By Component
    6.1. Segment Overview
    6.2. Hardware
    6.3. Software
    6.4. Services

7. Global Geographic Information System Market Analysis and Forecast, By Function
    7.1. Segment Overview
    7.2. Mapping
    7.3. Surveying
    7.4. Location-Based Services
    7.5. Telematics and Navigation
    7.6. Others

8. Global Geographic Information System Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Agriculture
    8.3. Architecture
    8.4. Building and Construction
    8.5. Utilities
    8.6. Retail
    8.7. Energy
    8.8. Transportation
    8.9. Mining
    8.10. Urban Planning
    8.11. Healthcare
    8.12. Others

9. Global Geographic Information System 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 Geographic Information System Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Geographic Information System 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. Autodesk, Inc.
          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. Bentley Systems
          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. Caliper Corporation
          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. Computer Aided Development Corporation Ltd.
          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. Esri
          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. General Electric Co.
          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. Hexagon AB
          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. L3Harris Technologies
          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. Pitney Bowes Inc.
          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. Trimble 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

List of Table

1. Global Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

2. Global Hardware Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

3. Global Software Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

4. Global Services Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

5. Global Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

6. Global Mapping Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

7. Global Surveying Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

8. Global Location-Based Services Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

9. Global Telematics and Navigation Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

10. Global Others Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

11. Global Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

12. Global Agriculture Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

13. Global Architecture Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

14. Global Building and Construction Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

15. Global Utilities Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

16. Global Retail Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

17. Global Energy Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

18. Global Transportation Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

19. Global Mining Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

20. Global Urban Planning Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

21. Global Healthcare Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

22. Global Others Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

23. Global Geographic Information System Market, By Region, 2019-2032 (USD Billion) 

24. North America Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

25. North America Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

26. North America Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

27. U.S. Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

28. U.S. Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

29. U.S. Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

30. Canada Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

31. Canada Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

32. Canada Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

33. Mexico Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

34. Mexico Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

35. Mexico Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

36. Europe Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

37. Europe Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

38. Europe Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

39. Germany Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

40. Germany Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

41. Germany Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

42. France Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

43. France Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

44. France Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

45. U.K. Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

46. U.K. Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

47. U.K. Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

48. Italy Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

49. Italy Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

50. Italy Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

51. Spain Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

52. Spain Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

53. Spain Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

54. Asia Pacific Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

55. Asia Pacific Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

56. Asia Pacific Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

57. Japan Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

58. Japan Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

59. Japan Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

60. China Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

61. China Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

62. China Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

63. India Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

64. India Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

65. India Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

66. South America Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

67. South America Geographic Information System Market, By Function, 2019-2032 (USD Billion)

68. South America Geographic Information System Market, By End User, 2019-2032 (USD Billion)

69. Brazil Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

70. Brazil Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

71. Brazil Geographic Information System Market, By End User, 2019-2032 (USD Billion)

72. Middle East and Africa Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

73. Middle East and Africa Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

74. Middle East and Africa Geographic Information System Market, By End User, 2019-2032 (USD Billion)

75. UAE Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

76. UAE Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

77. UAE Geographic Information System Market, By End User, 2019-2032 (USD Billion)

78. South Africa Geographic Information System Market, By Component, 2019-2032 (USD Billion) 

79. South Africa Geographic Information System Market, By Function, 2019-2032 (USD Billion) 

80. South Africa Geographic Information System Market, By End User, 2019-2032 (USD Billion) 

List of Figures 

1. Global Geographic Information System Market Segmentation

2. Geographic Information System Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Geographic Information System Market Attractiveness Analysis by Component

9. Global Geographic Information System Market Attractiveness Analysis by Function

10. Global Geographic Information System Market Attractiveness Analysis by End User

11. Global Geographic Information System Market Attractiveness Analysis by Region

12. Global Geographic Information System Market: Dynamics

13. Global Geographic Information System Market Share by Component (2022 & 2032)

14. Global Geographic Information System Market Share by Function (2022 & 2032)

15. Global Geographic Information System Market Share by End User (2022 & 2032)

16. Global Geographic Information System Market Share by Regions (2022 & 2032)

17. Global Geographic Information System Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global Geographic Information System market based on below mentioned segments:

Global Geographic Information System Market by Component:

  • Hardware
  • Software
  • Services

Global Geographic Information System Market by Function:

  • Mapping
  • Surveying
  • Location-Based Services
  • Telematics and Navigation
  • Others

Global Geographic Information System Market by End User:

  • Agriculture
  • Architecture
  • Building and Construction
  • Utilities
  • Retail
  • Energy
  • Transportation
  • Mining
  • Urban Planning
  • Healthcare
  • Others

Global Geographic Information System Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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