Hemp Environmental Control System Market

Hemp Environmental Control System Market Size by Control System (Intelligent Control System and Non-Intelligent Control System), End-Use (Hemp Plantation and Hemp Research Center), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12949
  • Published Date: Sep, 2022
  • Pages: 234
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global hemp environmental control system market is expected to reach USD 14.58 billion by 2030, at a CAGR of 15.62% from 2022 to 2030. The hemp environmental control system market would be driven by the rising demand for hemp in the textile, automotive, paper, food and beverages, construction, and personal care industry. Favorable government regulations encouraging hemp cultivation/production to reduce the carbon dioxide in the atmosphere and avert climate crisis will also positively influence the growth of the hemp environmental control system market.

Market Overview:

Hemp belongs to the botanical class of cannabis Sativa cultivars. In layman's language, it is a part of the same family as that cannabis, which is popularly known worldwide for its medicinal and psychotic properties. However, hemp only has 0.3% or less of THS. THS is tetrahydrocannabinol, the principal psychoactive constituent of cannabis. The hemp plant anatomy consists of its seeds, buds, flowers, leaves, and stems. The seeds are used in automotive, paper, textile, personal care, and food and beverages. Similarly, plant matter such as leaves and stems of the hemp plant are in the textile, paper, packaging, and construction industry. Hemp is also well known for its medicinal properties, especially the benefits of hemp in improving heart health. The increasing awareness about the medicinal properties of hemp has increased its demand in the pharmaceutical sector. One of the significant factors driving the hemp plantation worldwide is its environmental benefits. It is called nature's purifier, as it sequesters amounts of carbon dioxide from the atmosphere. A hemp environmental control system provides the management of temperature, air, ventilation, humidity, and nutrient levels for healthy hemp cultivation. The control system allows the cultivators/farmers to monitor, control and regulate the growth environment of the hemp plants, which enables them to achieve a consistent yield and increased revenues. The high sensitivity of hemp plants towards environmental changes can reduce crop yield and quantity; therefore, the importance of environmental control systems has increased globally.

Hemp Environmental Control System Market Size

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Market Dynamics:

Drivers:

Increasing demand for hemp across industries

Hemp is also known as nature's purifier. A hemp plant takes out a significant amount of carbon dioxide from the atmosphere. Given the rising awareness about climate change, environmental degradation & its severe consequences on humankind, hemp cultivation is being encouraged by governments globally. Furthermore, hemp has several uses spanning across industries. Hemp is used in food & beverages, automotive, furniture, construction, textile, paper, and personal care. It is used in the construction industry in oil paints, printing inks, solvents, coatings, acrylics, and fiberglass substitutes. Similarly, it is used in the textile industries in clothing, shoes, denim, and handbags. The growing use of hemp in numerous industries will drive the hemp environmental control system market.

Restraints:

Capital intensive nature of hemp environmental control systems

Hemp environmental control systems market growth would be hampered by the high costs of installation associated with it. Hemp environmental control systems are highly sophisticated devices equipped with features that monitor, control, and improve hemp plant growth. These systems use high-end technologies like artificial technology, high resolutions sensors, and plant tracking devices.

Opportunities:

Favorable government regulations

The rising concern about the climate crisis has encouraged governments globally to look for sustainable products. Hemp is a sustainable product with the added advantage of being a carbon dioxide absorber. Several governments, including the United States of America and India, have introduced hemp farming/cultivation bills in their respective countries to encourage hemp production. Several other nations are bound to follow the same path to curb the climate crisis, which will provide lucrative opportunities to the market players and other market stakeholders.

Challenges:

Lack of awareness about hemp environmental control systems

The use of hemp environmental control systems for producing a hemp crop is at a nascent stage in the developing world. Intelligent control systems integrating AI are still being tested, with innovations and advancements coming up regularly. The production of hemp is not new in the world; however, the use of environmental control systems is still a new concept unknown to hemp cultivators. The numerous regulations governing hemp cultivation are also hindering the market's growth. Similarly, stringent rules guide the use of hemp, which could prove challenging for the market players.

Segmentation Analysis:

The global hemp environmental control system market has been segmented based on control systems, end-use, and regions.

The control system segment is divided into intelligent control systems and non-intelligent control systems. The intelligent control system segment dominated the market, with a market share of around 57% in 2021. The intelligent control system uses AI or artificial intelligence to monitor, control, and improve the hemp yield. An intelligent control system utilizes sensors, automated monitoring systems, plant tracking devices, and other equipment to assist hemp farmers/producers ensure a consistent yield. Since hemp production is highly susceptible to damage if not produced in a meticulously controlled environment, farmers/producers of hemp are adopting an intelligent control system to check production errors and improve yield consistency, cost-efficiency, and profit margins. An intelligent control system gathers data on the plant's growth. It provides necessary tweaks to environmental conditions like humidity, light, temperature, and ventilation in line with the needs of the production. Increasing investment in developing better AI technologies and their growing integration/application across industries contributes to the growth of intelligent control systems in hemp production.

The end-user segment is divided into hemp plantation and hemp research centers. In 2021, the hemp plantation segment dominated the market, accounting for around 64% of global revenue. The rising awareness about the medicinal benefits of hemp, like reducing cholesterol, improving heart health, and regulating blood pressure, is increasing the demand for hemp by the pharmaceutical industries. The liberal laws enacted by various governments concerning the production, processing, packaging, distribution, and consumption of hemp are also driving the growth of hemp plantations worldwide. Hemp can be grown almost anywhere with less water, pesticides, and herbicides. It is a versatile crop and offers a high return on investment to production. Hemp is a sustainable biomaterial with a variety of medicinal benefits. It nourishes the soil, making it good for the environment as well. The numerous benefits economic, health, commercial, and environmental benefits of hemp plantation can be attributed to the growing dominance of the segment in the market.

Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region emerged as the largest market for the global hemp environmental control system market, with a 39% share of the market revenue in 2021.

  • The Asia Pacific currently dominates the hemp environmental control system market due to the growing cultivation of hemp by the region's developing economies. Countries like China, India, South Korea, Australia, and New Zealand are leading industrial hemp production to be used in the textile, automotive, pharmaceutical, personal care, agriculture, construction, and paper industries, among many others. The Asia Pacific will continue its domination during the forecast period due to the increasing presence of major industrial, medical, and food production units which utilize industrial hemp in their products. Rising government initiatives aimed at sustainability will also contribute to the growth of the Asia Pacific hemp environmental control system market.

Asia Pacific Region Hemp Environmental Control System Market Share in 2021 - 39%

 

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Competitive Analysis:

In September 2021, Green Rush Packaging released Grip' N Lock cannabis packaging. The customers can make these little and big boxes. The Grip' N Lock cannabis storage boxes have received approval under 16 CFR 1700. Gloss box finishes increase the material's water resistance and prevent printing from fading.

List of Key Market Players:

  • Argus Control Systems
  • Ceres Greenhouse Solutions
  • Climate Control Systems
  • Surna Cultivation Technologies
  • Delta T Solutions
  • Stuppy Inc.
  • GrowSpan Greenhouse Structures
  • Rimol Greenhouse Systems Inc.
  • Wadsworth Control Systems Inc.
  • Data Aire Inc.

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)
Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2021 USD 3.95 billion
Market size value in 2030 USD 14.58 billion
CAGR (2022 to 2030) 15.62%
Historical data 2019-2020
Base Year 2021
Forecast 2022-2030
Segments Control system , end-user, country
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 hemp environmental control system market was valued at USD 3.95 billion in 2021 to USD 14.58 billion by 2030.

Global hemp environmental control system market is growing at a CAGR of 15.62% during the forecast period 2022-2030.

The market's growth will be influenced by the increasing demand for hemp across industries.

Capital intensive nature of hemp environmental control systems could hamper the market growth.

Favorable government regulations will provide huge opportunities to the market.

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

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Control System
          4.3.2. Market Attractiveness Analysis By End Use
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing demand for hemp across industries
    5.3. Restraints
          5.3.1. Capital intensive nature of hemp environmental control systems
    5.4. Opportunities
          5.4.1. The growing consumer demand in developing economies
    5.5. Challenges
          5.5.1. Lack of awareness about hemp environmental control systems

6. Global Hemp Environmental Control System Market Analysis and Forecast, By Control System
    6.1. Segment Overview
    6.2. Intelligent Control System
    6.3. Non-Intelligent Control System

7. Global Hemp Environmental Control System Market Analysis and Forecast, By End Use
    7.1. Segment Overview
    7.2. Hemp Plantation
    7.3. Hemp Research Centers

8. Global Hemp Environmental Control System 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 Hemp Environmental Control System Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Hemp Environmental Control System 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. Argus Control Systems
          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. Ceres Greenhouse Solutions
          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. Climate Control Systems
          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. Surna Cultivation Technologies
          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. Delta T Solutions
          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. Stuppy Inc.
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. GrowSpan Greenhouse Structures
          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. Rimol Greenhouses Systems 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. Wadsworth Control Systems 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. Data Aire Inc.
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Component Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
 

List of Table

1. Global Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

2. Global Intelligent Hemp Environmental Control System Market, By Region, 2019-2030 (USD Billion) 

3. Global Non-Intelligent Hemp Environmental Control System Market, By Region, 2019-2030 (USD Billion) 

4. Global Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

5. Global Hemp Plantation Hemp Environmental Control System Market, By Region, 2019-2030 (USD Billion) 

6. Global Hemp Research Centers Hemp Environmental Control System Market, By Region, 2019-2030 (USD Billion) 

7. Global Hemp Environmental Control System Market, By Region, 2019-2030 (USD Billion) 

8. North America Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

9. North America Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

10. U.S. Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

11. U.S. Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

12. Canada Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

13. Canada Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

14. Mexico Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

15. Mexico Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

16. Europe Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

17. Europe Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

18. Germany Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

19. Germany Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

20. France Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

21. France Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

22. U.K. Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

23. U.K. Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

24. Italy Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

25. Italy Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

26. Spain Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

27. Spain Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

28. Asia Pacific Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

29. Asia Pacific Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

30. Japan Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

31. Japan Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

32. China Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

33. China Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

34. India Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

35. India Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

36. South America Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

37. South America Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

38. Brazil Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

39. Brazil Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

40. Middle East and Africa Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

41. Middle East and Africa Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

42. UAE Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

43. UAE Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

44. South Africa Hemp Environmental Control System Market, By Control System, 2019-2030 (USD Billion) 

45. South Africa Hemp Environmental Control System Market, By End Use, 2019-2030 (USD Billion) 

List of Figures 

1. Global Hemp Environmental Control System Market Segmentation

2. Hemp Environmental Control 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 Hemp Environmental Control System Market Attractiveness Analysis By Control System

9. Global Hemp Environmental Control System Market Attractiveness Analysis By End Use

10. Global Hemp Environmental Control System Market Attractiveness Analysis By Region

11. Global Hemp Environmental Control System Market: Dynamics

12. Global Hemp Environmental Control System Market Share by Control System (2022 & 2030)

13. Global Hemp Environmental Control System Market Share by End Use (2022 & 2030)

14. Global Hemp Environmental Control System Market Share by Regions (2022 & 2030)

15. Global Hemp Environmental Control System 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 hemp environmental control system market based on below mentioned segments:

Global Hemp Environmental Control System Market by Control System:

  • Intelligent Control System
  • Non-Intelligent Control System

Global Hemp Environmental Control System Market by End Use:

  • Hemp Plantation
  • Hemp Research Centers

Global Hemp Environmental Control 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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