Leather Goods Market

Leather Goods Market Size By Type (Genuine Leather, Synthetic Leather, and Vegan Leather), By Product (Footwear, Home Décor, and Furnishing), Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13136
  • Published Date: Dec, 2022
  • Pages: 236
  • Category: Consumer Goods
  • Format: PDF
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The global leather goods market was valued at USD 419.0 billion in 2022 and is anticipated to grow at a CAGR of 6.5% from 2022 to 2030. The global leather goods market is expected to reach USD 693.4 billion by 2030. Asia-Pacific is expected to grow the fastest during the forecast period.

Recent Development 

  • In 2021, to meet the rising demand for its high-end handbags, Hermes constructed a new Guyenne leather goods facility in France. Hermes has 19 leather goods factories, including this one.
  • In January 2021, Adidas AG stated that a new range of trainers manufactured from mushroom leather would be released as part of its sustainability initiative. The business teamed up with Stella McCartney, lululemon, and biotech firm Bolt Threads to produce plant-based vegan leather footwear.

Leather Goods Market Size

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Market Introduction:

Customers favour leather goods because of their inherent strengths, which are predicted to propel the leather goods market ahead. These strengths include being dustproof, fireproof, crack-proof, and durable. The expansion of the leather goods market has also been impacted during the past few years by the rising demand for stylish purses, high-end leather wallets, and other leather products. Government subsidies for the leather industry are accelerating market expansion. For instance, 100% FDI is permitted in India for the automated production of leather goods. Rising consumer disposable income, higher living standards, shifting fashion trends, and expanding domestic and international tourism are the primary market drivers. A favourable effect on the industry is anticipated from the expanding demand for stylish, trendy, and comfortable leather clothing, accessories, and footwear. Due to the COVID-19 outbreak, which caused premium apparel stores and outlets to close their doors and cause widespread lockdowns around the world, there was a disruption in the retail sales of leather goods products in 2020. Due to the entire lockdown, the pandemic also affected the companies' supply chain and output. For instance, in 2020, all 42 of Hermes' French production facilities were closed, except for the perfume factory, which produced hand sanitiser in the interim.

Market Dynamics: 

Drivers:

Lifestyle Changes Occurring – Market participants have been urged to launch cutting-edge and popular items to satisfy consumer demand and preserve a devoted customer base as global fashion trends shift. Additionally, buyers want leather accessories and baggage that are both small and fashionable. Men's leather gloves, bracelets, and necklaces are becoming more and more well-liked as fashion trends change. As a result of shifting fashion trends, the industry will expand in the upcoming years.

Restraints:

Availability of Alternative Products Numerous modern, eco-friendly leather substitutes are available. Pineapple leaf fibres are used to create the natural and sustainable product known as Piatex. Environmentally friendly wax is utilized in Waxed Canvas and (Organic) Cotton. Instead of employing harmful treatments or dyes, leaf "leather" is made by retaining leaves in fiber sheets. Fungus is used to create mushroom leather, which is environmentally benign and biodegradable. The skin and cores of apples are used to make apple "leather," which may be composted, and the waste products from the coconut industry are used to make coconut "leather."

Opportunities:

Development of Fashionable Model – Belts are the second-largest merchandise category after carrying goods. Travel bags are the fastest-growing leather goods market, while handbags and wallets are the largest categories within the carrying products segment. Since customers' disposable money is rising and their way of life is changing daily, it seems sensible that they are more likely to favor fashionable goods. Based on their discretionary money, consumers are increasing the quality of their lives by buying more fashionable and contemporary goods. Therefore, these consumer tendencies will present a market opportunity for market participants.

Challenges:

Shortage of Leather Goods – The cost of leather is rising due to a global shortage of leather items. European consumers are searching for low-cost suppliers who produce leather from exotic creatures like pythons and alligators. For instance, according to Humane Society International, the fashion sector in Europe accounted for 96% of the market for python skin in 2016, with Italy, Spain, and France being the main importers.

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 leather goods market, with a 37.8% share of the market revenue in 2022. Future market growth is anticipated to be driven by rising product demand and an increase in online sales in North America. The growing population of athletes and fitness enthusiasts is also projected to stimulate market expansion. In 2019, the United States was the largest market in the area, followed by Canada and Mexico. In North America, discount shops, factory outlets, department stores, and e-commerce websites are the main distribution channels for leather goods.

Asia-Pacific is expected to be the fastest-growing region. The Asia Pacific market is being pushed by the rising demand for premium and luxury goods, particularly in nations like China and India. In Asia, Pakistan and Bangladesh are significant suppliers of primary leather (raw material). The managing director of Leather Footwear Industries Ltd., Mohammed Nazmul Hassan, claims that 15 to 20 new factories producing leather goods and footwear are established annually in Bangladesh. Bangladesh is a desirable market for foreign leather goods brands due to the country's relatively cheap tariff rates on exported leather goods.

North America Region Leather Goods Market Share in 2022 - 37.8%

 

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Type segment analysis

The type segment is divided into genuine leather, synthetic leather, and vegan leather. The synthetic leather segment dominated, with a market share of around 36.7% in 2022. Consumer desire for synthetic leather items is being fueled by the fact that they are as attractive in terms of appearance and less priced than genuine leather goods. Most synthetic leather comes from synthetic sources including polyurethane (PU) and polyvinyl chloride (PVC). Since PU leather doesn't emit dioxins like its vinyl-based predecessor, it is thought to be more environmentally friendly. The low price and robust design of various product categories are credited with the increase. Like paper, there are several eco-friendly solutions for plastic leather products. For instance, PLA maize plastic leather products offer complete product visibility for improved marketability and are compostable.

Product segment analysis

The product segment is divided into footwear, home décor, and furnishing. Over the forecast period, footwear is expected to grow at the fastest CAGR of 7.3%. Given the rising customer demand for leather athletic footwear, major athletic footwear manufacturers like Nike, New Balance, Adidas, Puma, Reebok, Allbirds, and Converse have entered the leather athletic footwear production market. As an illustration, Nike, Inc. introduced sneakers made of fly leather in 2017; this novel material was created by fusing discarded leather scraps from tanneries with a polyester blend.

Some of the Key Market Players: 

  • Adidas AG
  • Nike, Inc.
  • Puma SE
  • Fila, Inc.
  • New Balance Athletics, Inc.
  • Knoll, Inc.
  • Samsonite International S.A.
  • VIP Industries Ltd.
  • Timberland LLC
  • Johnston & Murphy
  • Woodland Worldwide
  • Hermès International S.A.
  • Louis Vuitton Malletier
  • VF Corp.
  • COLLAR Company
  • LUCRIN Geneva
  • Nappa Dori
  • Saddles India Pvt. Ltd.
  • Lear Corp.

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 419.0 Billion
Market size value in 2030 USD 693.4 Billion
CAGR (2022 to 2030) 6.5%
Historical data 2019-2020
Base Year 2021
Forecast 2022-2030
Segments Type, Product
Regional Segments

North America, Asia Pacific, Europe, Latin America, Middle East and Africa

Frequesntly Asked Questions

As per The Brainy Insights, the size of the leather goods market was valued at USD 419.0 billion in 2022 to USD 693.4 billion by 2030.

The global leather goods market is growing at a CAGR of 6.5% during the forecast period 2022-2030.

North America emerged as the largest market for leather goods.

Key players in the leather goods market are Adidas AG, Nike, Inc., Puma SE, Fila, Inc., New Balance Athletics, Inc., Knoll, Inc., Samsonite International S.A., VIP Industries Ltd., Timberland LLC, Johnston & Murphy

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

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Type
          4.3.2. Market Attractiveness Analysis By Product
          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. Rising awareness about healthy hearts
    5.3. Restraints
          5.3.1. The decreasing number of heart donors
    5.4. Opportunities
          5.4.1. Increasing cases of cardiac diseases
    5.5. Challenges
          5.5.1. Increasing demand for catheterization labs

6. Global Leather Goods Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Genuine Leather
    6.3. Synthetic Leather
    6.4. Vegan Leather

7. Global Leather Goods Market Analysis and Forecast, By Product
    7.1. Segment Overview
    7.2. Footwear
    7.3. Home Décor
    7.4. Furnishing

8. Global Leather Goods 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 Leather Goods Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in Global Leather Goods 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. Adidas AG
          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. Nike, 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. Puma SE
          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. Fila, 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. New Balance Athletics, Inc.
          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. Knoll, 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. Samsonite International S.A.
          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. VIP Industries Ltd.
          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. Timberland LLC
          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. Johnston & Murphy
          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

List of Table

1. Global Leather Goods Market, By Type, 2019-2030 (USD Billion)

2. Global Genuine Leather, Leather Goods Market, By Region, 2019-2030 (USD Billion) 

3. Global Synthetic Leather, Leather Goods Market, By Region, 2019-2030 (USD Billion) 

4. Global Vegan Leather, Leather Goods Market, By Region, 2019-2030 (USD Billion)

5. Global Leather Goods Market, By Product, 2019-2030 (USD Billion)

6. Global Footwear, Leather Goods Market, By Region, 2019-2030 (USD Billion) 

7. Global Home Décor, Leather Goods Market, By Region, 2019-2030 (USD Billion) 

8. Global Furnishing, Leather Goods Market, By Region, 2019-2030 (USD Billion) 

9. North America Leather Goods Market, By Type, 2019-2030 (USD Billion)

10. North America Leather Goods Market, By Product, 2019-2030 (USD Billion)

11. U.S. Leather Goods Market, By Type, 2019-2030 (USD Billion)

12. U.S. Leather Goods Market, By Product, 2019-2030 (USD Billion)

13. Canada Leather Goods Market, By Type, 2019-2030 (USD Billion)

14. Canada Leather Goods Market, By Product, 2019-2030 (USD Billion)

15. Mexico Leather Goods Market, By Type, 2019-2030 (USD Billion)

16. Mexico Leather Goods Market, By Product, 2019-2030 (USD Billion)

17. Europe Leather Goods Market, By Type, 2019-2030 (USD Billion)

18. Europe Leather Goods Market, By Product, 2019-2030 (USD Billion)

19. Germany Leather Goods Market, By Type, 2019-2030 (USD Billion)

20. Germany Leather Goods Market, By Product, 2019-2030 (USD Billion)

21. France Leather Goods Market, By Type, 2019-2030 (USD Billion)

22. France Leather Goods Market, By Product, 2019-2030 (USD Billion)

23. U.K. Leather Goods Market, By Type, 2019-2030 (USD Billion)

24. U.K. Leather Goods Market, By Product, 2019-2030 (USD Billion)

25. Italy Leather Goods Market, By Type, 2019-2030 (USD Billion)

26. Italy Leather Goods Market, By Product, 2019-2030 (USD Billion)

27. Spain Leather Goods Market, By Type, 2019-2030 (USD Billion)

28. Spain Leather Goods Market, By Product, 2019-2030 (USD Billion)

29. Asia Pacific Leather Goods Market, By Type, 2019-2030 (USD Billion)

30. Asia Pacific Leather Goods Market, By Product, 2019-2030 (USD Billion)

31. Japan Leather Goods Market, By Type, 2019-2030 (USD Billion)

32. Japan Leather Goods Market, By Product, 2019-2030 (USD Billion)

33. China Leather Goods Market, By Type, 2019-2030 (USD Billion)

34. China Leather Goods Market, By Product, 2019-2030 (USD Billion)

35. India Leather Goods Market, By Type, 2019-2030 (USD Billion)

36. India Leather Goods Market, By Product, 2019-2030 (USD Billion)

37. South America Leather Goods Market, By Type, 2019-2030 (USD Billion)

38. South America Leather Goods Market, By Product, 2019-2030 (USD Billion)

39. Brazil Leather Goods Market, By Type, 2019-2030 (USD Billion)

40. Brazil Leather Goods Market, By Product, 2019-2030 (USD Billion)

41. Middle East and Africa Leather Goods Market, By Type, 2019-2030 (USD Billion)

42. Middle East and Africa Leather Goods Market, By Product, 2019-2030 (USD Billion)

43. UAE Leather Goods Market, By Type, 2019-2030 (USD Billion)

44. UAE Leather Goods Market, By Product, 2019-2030 (USD Billion)

45. South Africa Leather Goods Market, By Type, 2019-2030 (USD Billion)

46. South Africa Leather Goods Market, By Product, 2019-2030 (USD Billion)

List of Figures 

1. Global Leather Goods Market Segmentation

2. Global Leather Goods 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 Leather Goods Market Attractiveness Analysis By Type

9. Global Leather Goods Market Attractiveness Analysis By Product

10. Global Leather Goods Market Attractiveness Analysis By Region

11. Global Leather Goods Market: Dynamics

12. Global Leather Goods Market Share By Type (2022 & 2030)

13. Global Leather Goods Market Share By Product (2022 & 2030)

14. Global Leather Goods Market Share By Regions (2022 & 2030)

15. Global Leather Goods Market Share By Company (2021)

This study forecasts global, regional, and country revenue from 2019 to 2030. Brainy Insights has segmented the global leather goods market based on the below-mentioned segments:

Global Leather Goods Market by Type:

  • Genuine Leather
  • Synthetic Leather
  • Vegan Leather

Global Leather Goods Market by Product:

  • Footwear
  • Home Décor
  • Furnishing

Global Leather Goods 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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