Healthcare Cloud Computing Market

Healthcare Cloud Computing Market Size by Cloud Deployment (Private, Public, Hybrid), End User (Healthcare Payers, Healthcare Providers), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13004
  • Published Date: Oct, 2022
  • Pages: 235
  • Category: Healthcare
  • Format: PDF
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The global healthcare cloud computing market was valued at USD 38.55 billion in 2022 and growing at a CAGR of 19.26% from 2022 to 2030. The market is expected to reach USD 157.75 billion by 2030. Europe is expected to increase the fastest during the forecast period.

Market Introduction:

According to research, cloud computing improves data accessibility and real-time data collection. So its data is faster when handled with faster speeds and more effectiveness. This innovation has overcome an outdated healthcare system that is paper-based. One of the most transformative technologies of the past ten years, cloud computing is seeing a tremendous rise in usage across many businesses. Healthcare is a slow-moving industry, but the fast-paced technology sector continuously collides with it, causing radical transformation in the market.

Utilizing hosted services via the internet, real-time data collecting, and improved data accessibility, healthcare cloud computing helps companies store, manage, and analyze data from many places. The healthcare business benefits from cloud computing in several ways, including the ability for experts to access and store data remotely. To store, manage, and process data, it is common to use distant servers rather than local servers or networks. The data centre's infrastructure is therefore moved outside of the business through the use of the cloud.

The growing emphasis on healthcare value-based pricing, the efficiency of a resource, and offering effective treatment at lower prices has increased healthcare providers' use of clouds in recent years. Due to the introduction of business models, new technologies, and processes that are revolutionizing healthcare over the past several years, the healthcare cloud computing market has been expanding significantly.

Healthcare Cloud Computing Market Size

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Recent Development

Throughout the forecasted period, it is predicted that there will be a growing demand for this system due to increasing public responsiveness, an increase in the need for stringent regulatory compliance, as well as forward businesses from healthcare companies like IBM, GE Healthcare, Cisco, and government organizations. Important market participants have introduced software and services that allow for the collection and assimilation of enormous amounts of healthcare data that are beneficial for the development of the market.

Additionally, this software offers easy access to patient data that helps medical personnel make accurate judgments. Along with the abovementioned factors, a high software adoption of cloud computing to improve hospital operations and enable fraud prevention is also opening up promising opportunities for the business.

Market Dynamics:

Drivers:

Advancements in technology- Several healthcare facilities are greater than ever using the benefits of the cloud because of recent technological advances and improved security. In the years to come, cloud computing will continue to evolve to match unique digital health contexts in several significant ways owing to technical advancements, including remote monitoring, APIs for natural language processing, and telemedicine. Several healthcare institutions want to advance innovative solutions for cloud computing by incorporating advanced technologies. Data is examined and worked on by the system at the collection site rather than being collected and sent to the cloud. It is also expected that the global healthcare cloud computing market will see expansion due to the spread of fast internet and the implementation of suitable regulatory measures. One of the critical reasons propelling the growth of the healthcare cloud computing market is the widespread availability of high-speed internet on a global scale.

Restraints:

Technological concerns related to the data- Concerns about data privacy, data transfer barriers, and an increase in breaches using cloud data are restricting the growth of the healthcare cloud computing market globally. A shortage of experienced IT personnel has also slowed the introduction using this technique. Due to the difficulty in locating experts in HIPAA, experts who are competent are in high demand. The talent shortage is anticipated to slow the transition to cloud computing platforms.

Opportunities:

Increasing adoption of data analytics in the healthcare sector- The market growth will be accelerated by the widespread use of wearable technology, big data analytics, and the Internet of Things (IoT) in the healthcare industry, as well as by the emergence of new payment methods and the cloud's cost-effectiveness. Further influencing the market is the adoption of the technology due to its many benefits, including the flexibility, improved data storage and scalability provided by cloud computing, and the availability of dynamic health benefit plan designs.

Challenges:

Stringent regulations regarding data- The complicated rules regulating cloud data centres, data security and privacy concerns, and other factors are predicted to hamper industry expansion. The healthcare cloud computing market is expected to face challenges throughout the forecast period due to problems with interoperability and portability, increasing user internet reliance, and provider renting regulations. 

Segmentation analysis:

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 healthcare cloud computing market, with a 34.02% share of the market revenue in 2022.

North America, which accounted for 34.02% of the total revenue in the global healthcare cloud computing market in 2022, led the market revenue share. North America holds a significant market share in the healthcare cloud computing market, and it is predicted that, barring any significant changes, this trend will continue for several years. The United States is a leader in healthcare cloud computing, primarily due to its high adoption of IT for healthcare service utilisation rates and ongoing backing through the government sector. Cloud-based services are beneficial for all parties involved. Most healthcare organizations lack the time and resources to give cybersecurity the attention it deserves that a reputable cloud provider might. The rising rate of data breaches necessitates a more thorough adoption of cloud technologies in the healthcare industry to increase security. The North American region is therefore anticipated to experience rapid expansion over the following years due to all the above-mentioned factors.

North America Region Healthcare Cloud Computing Market Share in 2022 - 34.02%

 

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Cloud Deployment Segment Analysis 

The cloud deployment segment is divided into private, public, and hybrid. The private segment dominated the market, with a market share of around 39.81% in 2022. To prevent a data privacy breach that might have legal repercussions, storing very sensitive patient data securely is necessary. Several factors, including increasing acceptance, have fueled the expansion of the private cloud segment because of its superior security and higher adoption rate compared to public clouds and hybrid clouds.

End User Segment Analysis

The end-user segment is divided into healthcare payers and healthcare providers. In 2022, the healthcare providers segment dominated the market, accounting for around 56.83% of global revenue. This is driven by a sharp rise in hospital connections to cloud infrastructure, which affected demand for the SaaS model. These systems include benefits such as safe off-site data management and storage, and they make it simple to outsource IT services and solutions, which removes the need for internal IT staff. Advanced computing systems, solutions, and ongoing technical developments were contributing factors to driving the segment's growth by enabling scalability, flexibility, and improved data management.

Some of the Key Market Players:

  • Allscripts Healthcare Solution Inc.
  • Iron Mountain Inc.
  • Athenahealth Inc.
  • Dell Inc.
  • IBM Corp.
  • Oracle Corp.
  • Cisco Systems Inc.
  • Qualcomm Inc.
  • VMware Inc.
  • Microsoft Corp.
  • EMC Corp.
  • GNAX Health

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 38.55 Billion
Market size value in 2030 USD 157.75 Billion
CAGR (2022 to 2030) 19.26%
Historical data 2019-2020
Base Year 2021
Forecast 2022-2030
Segments Cloud Deployment, End User
Regional Segments The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the healthcare cloud computing market was valued USD 38.55 billion in 2022 & USD 157.75 billion by 2030.

Global healthcare cloud computing market is growing at a CAGR of 19.26% during the forecast period 2022-2030.

North America region emerged as the largest market for the healthcare cloud computing.

The global healthcare cloud computing market has been segmented based on cloud deployment, end user, and regions.

Increasing adoption of data analytics in the healthcare sector is providing huge opportunities to the market.

The market will be challenged by stringent regulations regarding data.

1. Introduction
    1.1. Objective 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 Cloud Deployment
          4.3.2. Market Attractiveness Analysis By End User
          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. Advancements in the technology
    5.3. Restraints
          5.3.1. Technological concerns related with the data
    5.4. Opportunities
          5.4.1. Increasing adoption of data analytics in the healthcare sector
    5.5. Challenges
          5.5.1. Stringent regulations regarding data

6. Global Healthcare Cloud Computing Market Analysis and Forecast, By Cloud Deployment
    6.1. Segment Overview
    6.2. Private
    6.3. Public
    6.4. Hybrid

7. Global Healthcare Cloud Computing Market Analysis and Forecast, By End User
    7.1. Segment Overview
    7.2. Healthcare Payers
    7.3. Healthcare Providers

8. Global Healthcare Cloud Computing 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 Healthcare Cloud Computing Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Healthcare Cloud Computing 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. Allscripts Healthcare Solution Inc.
          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. Iron Mountain 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. Athenahealth Inc.
          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. Dell 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. IBM Corp.
          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. Oracle Corp.
          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. Cisco Systems Inc.
          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. Qualcomm 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. VMware 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. Microsoft Corp.
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Product Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. EMC Corp.
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Product Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. GNAX Health
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company Product Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis
 

List of Table

1. Global Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

2. Global Private, Healthcare Cloud Computing Market, By Region, 2019-2030 (USD Billion) 

3. Global Public, Healthcare Cloud Computing Market, By Region, 2019-2030 (USD Billion) 

4. Global Hybrid, Healthcare Cloud Computing Market, By Region, 2019-2030 (USD Billion) 

5. Global Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

6. Global Healthcare Payers, Healthcare Cloud Computing Market, By Region, 2019-2030 (USD Billion) 

7. Global Healthcare Providers, Healthcare Cloud Computing Market, By Region, 2019-2030 (USD Billion) 

8. Global Healthcare Cloud Computing Market, By Region, 2019-2030 (USD Billion) 

9. North America Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

10. North America Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

11. U.S. Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

12. U.S. Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

13. Canada Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

14. Canada Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

15. Mexico Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

16. Mexico Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

17. Europe Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

18. Europe Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

19. Germany Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

20. Germany Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

21. France Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

22. France Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

23. U.K. Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

24. U.K. Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

25. Italy Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

26. Italy Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

27. Spain Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

28. Spain Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

29. Asia Pacific Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

30. Asia Pacific Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

31. Japan Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

32. Japan Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

33. China Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

34. China Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

35. India Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

36. India Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

37. South America Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

38. South America Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

39. Brazil Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

40. Brazil Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

41. Middle East and Africa Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

42. Middle East and Africa Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

43. UAE Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

44. UAE Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion) 

45. South Africa Healthcare Cloud Computing Market, By Cloud Deployment, 2019-2030 (USD Billion) 

46. South Africa Healthcare Cloud Computing Market, By End User, 2019-2030 (USD Billion)

List of Figures 

1. Global Healthcare Cloud Computing Market Segmentation

2. Healthcare Cloud Computing 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 Healthcare Cloud Computing Market Attractiveness Analysis By Cloud Deployment

9. Global Healthcare Cloud Computing Market Attractiveness Analysis By End User

10. Global Healthcare Cloud Computing Market Attractiveness Analysis By Region

11. Global Healthcare Cloud Computing Market: Dynamics

12. Global Healthcare Cloud Computing Market Share by Cloud Deployment (2022 & 2030)

13. Global Healthcare Cloud Computing Market Share by End User (2022 & 2030)

14. Global Healthcare Cloud Computing Market Share by Regions (2022 & 2030)

15. Global Healthcare Cloud Computing Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global healthcare cloud computing market based on below mentioned segments:

Global Healthcare Cloud Computing Market by Cloud Deployment:

  • Private
  • Public
  • Hybrid

Global Healthcare Cloud Computing Market by End User:

  • Healthcare Payers
  • Healthcare Providers

Global Healthcare Cloud Computing 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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