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LED Driver Market

LED Driver Market Size by Luminaire Type (T-Lamps, Reflectors, Integral Modules, A-Type), Driving Method (Constant Voltage & Constant Current), End-User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12881
  • Published Date: Aug, 2022
  • Pages: 234
  • Category: Automotive & Transportation
  • Format: PDF
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Global LED driver market is expected to reach USD 145.65 billion by 2030, at a CAGR of 25.50% from 2022 to 2030. LED driver market growth would be driven by the increase in the adoption of energy-saving lighting, the outcome of programmable LED drivers, and the overflow in smart infrastructure adoption in growing regions push the LED driver market development.

Market Overview:

The development of the global LED driver market is rapidly rising as LEDs are broadly being utilized as an option to traditional light. LEDs have more valuable benefits than conventional lighting products. These benefits include a longer life of LED, increased energy saving than conventional products, miniaturization, and lower heat output. Similarly, the increasing number of smart homes has led to an upsurge in the need for Internet of things based connected lighting solutions, pushing the development of the global LED driver market. Countries worldwide have launched different initiatives to enhance energy saving; therefore, the global LED driver market is growing. Regardless, some restrictions restrict the development of the global LED driver market. There is a wrong concept about the high cost of installing LED drivers; accordingly, the market may encounter some adverse trends. Furthermore, the absence of standard criteria among the manufacturers may challenge the development of the global LED driver market. The fast technical improvements in lighting have allowed power saving and effectiveness, therefore supporting the need for the product and helping the global LED driver business grow. The increasing penetration of LED lighting in various applications, like horticultural, automotive, indoor, and industrial, has also improved LED driver industry growth due to enhancing current lighting resolutions' needs. The rising adoption of LED drivers in devices like a calculator is expected to further push the development of the LED driver industry.

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Market Dynamics:

Drivers:
  • The rising usage of LED lights

LED lights are gaining more attention due to their worldwide adoption. More than 9.5 billion units of these lights are equipped for different needs. The market's adoption rate is predicted to increase in the projection time. Around 85% of the lighting market sale is on LEDs.  These elements boost the need for LED drivers. LED lights are now emerging nowadays. Today, most regions choose LED lights as the primary lighting solution.

Restraints:
  • Lack of understanding regarding LED

Lack of understanding about LED drivers is a limiting element of the market. Furthermore, the insight of these lighting solutions is impressive. Regardless, LED drivers have little understanding among end-users. Less product knowledge can reduce the need for the market. Furthermore, the adoption rate can be less in the forthcoming years. The key players in the market are bringing initiatives to raise awareness. Still, this limitation can affect the development of the LED drivers market.

Opportunities:
  • Encouraging government policies for LED drivers market

Investments made by the government in LED drivers are growing. All these elements will boost the entire market expansion. The step is taken to save money on power solutions. Due to power savings, the economy is growing. These elements will enhance the governmental business in the next periodic years. The smart building will create more opportunities for LED drivers. In smart cities, LED lights are the primary lighting solution.

Segmentation Analysis:

The global LED driver market has been segmented based on luminaire type, driving method end user, and regions.

  • The luminaire type segment is divided into T-Lamps, Reflectors, Integral Modules, A-Type. The A-Type segment dominated the market, with a market share of around 27% in 2021. The combined LED modules segment is overgrowing owing to the choice of wholly integrated modules inside an LED system over conventionally built LED systems for the end-users to assist in cost cutting.
  • The driving method segment is divided into constant voltage & constant current. The constant current segment dominated the market, with a market share of around 56% in 2021. The constant current LED drivers to lead over constant voltage LED drivers due to bypassing the highest current selected for the LEDs and evading thermal runaway/burnout.
  • The end user segment is divided into industrial lighting, outdoor & traffic lighting, commercial lighting, residential lighting, and others. The outdoor & traffic lighting segment dominated the market, with a market share of around 26% in 2021. The streets, main roads, and highways require different control systems, and numerous projects require many solutions to benefit from entire power savings.
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 LED driver market with a 34.5% share of the market revenue in 2021.

  • Asia Pacific is the top LED drivers regional player. It is maintaining the LED drivers market share growth. Increasing urbanization is a critical driver in the Asia Pacific region. India, China, and Japan are important supporters of the entire market development. Major players in the market are raising the production of LED drivers. The investments from the end-users are rising. The application of the product in construction, automotive, and residential areas is higher. Furthermore, the price of electricity is an essential cost in Asia Pacific countries. The necessity to lessen the electric bill will lead to increased adoption of LED drivers.

Asia Pacific Region LED driver Market Share in 2021 - 34.5%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global LED driver industry.

In 2022 May, Signify Holdings reported the investment of Fluence from ams OSRAM. The acquisition allowed the company to boost its global agriculture lighting platform and grow into the North American horticulture lighting market.

List of Key Market Players:

  • Signify Holding
  • MEAN WELL Enterprises Co. Ltd
  • Lutron Electronics Co. Inc.
  • LumaStream Inc.
  • Hatch Lighting
  • ERP Power LLC
  • Enedo Plc
  • Eaton Corporation Plc
  • Crestron Electronics Inc.
  • Cree Inc.
  • Autec Power Systems
  • Acuity Brands Lighting Inc.
  • AC Electronics (ACE)

Key Target Audience

  • Automotive
  • Residential
  • Indutrial
  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers

Report Description:

  • Global LED Driver Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered as the base year of the report. 2019 and 2020 are considered as the historic years and 2022 to 2030 are the forecast years. The global LED driver market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global LED driver market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of LED driver based on luminaire type, driving method end user, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global LED driver market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global LED driver market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related i.e., global LED driver market) is covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the LED driver market was valued at USD 18.86 billion in 2021 to USD 145.65 billion by 2030.

Global LED driver market is growing at a CAGR of 25.50% during the forecast period 2022-2030.

The global LED driver market has been segmented on luminaire type, driving method end user, and regions. The A-Type segment led the market in 2021. The constant current segment led the market in 2021.

Asia Pacific region emerged as the largest market for the LED driver market.

The rising usage of LED lights to propel market growth.

Lack of understanding regarding LED to hinder market growth.

Encouraging government policies for LED drivers market will provide huge opportunities to the market.

Key players are Signify Holding, MEAN WELL Enterprises Co. Ltd, Lutron Electronics Co. Inc., LumaStream Inc., Hatch Lighting, ERP Power LLC, Enedo Plc, Eaton Corporation Plc, Crestron Electronics Inc.

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
  • Customers can be added on the basis of regions and countries
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Luminaire Type
          4.3.2. Market Attractiveness Analysis by Driving Method
          4.3.3. Market Attractiveness Analysis by End-User
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The rising usage of LED lights
    5.3. Restraints
          5.3.1. Lack of understanding regarding LED
    5.4. Opportunities
          5.4.1. Encouraging government policies for LED drivers market

6. Global LED Driver Market Analysis and Forecast, By Luminaire Type:
    6.1. Segment Overview
    6.2. T-Lamps
    6.3. Reflectors
    6.4. Integral Modules
    6.5. A-Type

7. Global LED Driver Market Analysis and Forecast, By Driving Method
    7.1. Segment Overview
    7.2. Constant Voltage
    7.3. Constant Current

8. Global LED Driver Market Analysis and Forecast, By End-User
    8.1. Segment Overview
    8.2. Industrial Lighting
    8.3. Outdoor & Traffic Lighting
    8.4. Commercial Lighting
    8.5. Residential Lighting
    8.6. Others

9. Global LED Driver Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global LED Driver Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the LED Driver Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Signify Holding
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. MEAN WELL Enterprises Co. Ltd
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Lutron Electronics Co. Inc.
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. LumaStream Inc
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Hatch Lighting
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. ERP Power LLC
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Enedo Plc
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Eaton Corporation Plc.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Crestron Electronics Inc
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Cree Inc
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Autec Power Systems
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Acuity Brands Lighting Inc.
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. AC Electronics (ACE).
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis

List of Table

1. Global LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

2. Global T-Lamps LED Driver Market, By Region, 2019-2030 (USD Billion) 

3. Global Reflectors LED Driver Market, By Region, 2019-2030 (USD Billion) 

4. Global Integral Modules LED Driver Market, By Region, 2019-2030 (USD Billion) 

5. Global Others LED Driver Market, By Region, 2019-2030 (USD Billion) 

6. Global LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

7. Global Constant Voltage LED Driver Market, By Region, 2019-2030 (USD Billion) 

8. Global Constant Current LED Driver Market, By Region, 2019-2030 (USD Billion)

9. Global LED Driver Market, By End-User, 2019-2030 (USD Billion) 

10. Global Industrial Lighting LED Driver Market, By Region, 2019-2030 (USD Billion) 

11. Global Outdoor & Traffic Lighting LED Driver Market, By Region, 2019-2030 (USD Billion)

12. Global Commercial Lighting LED Driver Market, By Region, 2019-2030 (USD Billion)

13. Global Residential Lighting LED Driver Market, By Region, 2019-2030 (USD Billion)

14. Global Others LED Driver Market, By Region, 2019-2030 (USD Billion)

15. North America LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

16. North America LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

17. North America LED Driver Market, By End-User, 2019-2030 (USD Billion) 

18. U.S. LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

19. U.S. LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

20. U.S. LED Driver Market, By End-User, 2019-2030 (USD Billion) 

21. Canada LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

22. Canada LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

23. Canada LED Driver Market, By End-User, 2019-2030 (USD Billion) 

24. Mexico LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

25. Mexico LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

26. Mexico LED Driver Market, By End-User, 2019-2030 (USD Billion) 

27. Europe LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

28. Europe LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

29. Europe LED Driver Market, By End-User, 2019-2030 (USD Billion) 

30. Germany LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

31. Germany LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

32. Germany LED Driver Market, By End-User, 2019-2030 (USD Billion) 

33. France LED Driver Market, By Luminaire Type 2019-2030 (USD Billion) 

34. France LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

35. France LED Driver Market, By End-User, 2019-2030 (USD Billion) 

36. U.K. LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

37. U.K. LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

38. U.K. LED Driver Market, By End-User, 2019-2030 (USD Billion) 

39. Italy LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

40. Italy LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

41. Italy LED Driver Market, By End-User, 2019-2030 (USD Billion) 

42. Spain LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

43. Spain LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

44. Spain LED Driver Market, By End-User, 2019-2030 (USD Billion) 

45. Asia Pacific LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

46. Asia Pacific LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

47. Asia Pacific LED Driver Market, By End-User, 2019-2030 (USD Billion) 

48. Japan LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

49. Japan LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

50. Japan LED Driver Market, By End-User, 2019-2030 (USD Billion) 

51. China LED Driver Market, By Luminaire Type 2019-2030 (USD Billion) 

52. China LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

53. China LED Driver Market, By End-User, 2019-2030 (USD Billion) 

54. India LED Driver Market, By Luminaire Type 2019-2030 (USD Billion) 

55. India LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

56. India LED Driver Market, By End-User, 2019-2030 (USD Billion) 

57. South America LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

58. South America LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

59. South America LED Driver Market, By End-User, 2019-2030 (USD Billion)

60. Brazil LED Driver Market, By Luminaire Type 2019-2030 (USD Billion) 

61. Brazil LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

62. Brazil LED Driver Market, By End-User, 2019-2030 (USD Billion) 

63. Middle East and Africa LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

64. Middle East and Africa LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

65. Middle East and Africa LED Driver Market, By End-User, 2019-2030 (USD Billion) 

66. UAE LED Driver Market, By Luminaire Type, 2019-2030 (USD Billion) 

67. UAE LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

68. UAE LED Driver Market, By End-User, 2019-2030 (USD Billion) 

69. South Africa LED Driver Market, By Luminaire Type 2019-2030 (USD Billion) 

70. South Africa LED Driver Market, By Driving Method, 2019-2030 (USD Billion) 

71. South Africa LED Driver Market, By End-User, 2019-2030 (USD Billion)  

List of Figures 

1. Global LED Driver Market Segmentation

2. LED Driver 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 LED Driver Market Attractiveness Analysis by Luminaire Type

9. Global LED Driver Market Attractiveness Analysis by Driving Method

10. Global LED Driver Market Attractiveness Analysis by End-User

11. Global LED Driver Market Attractiveness Analysis by Region

12. Global LED Driver Market: Dynamics

13. Global LED Driver Market Share by Luminaire Type (2022 & 2030)

14. Global LED Driver Market Share by Driving Method (2022 & 2030)

15. Global LED Driver Market Share by End-User (2022 & 2030)

16. Global LED Driver Market Share by Regions (2022 & 2030)

17. Global LED Driver 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 LED driver market based on below mentioned segments:

LED Driver Market by Luminaire Type:

  • T-Lamps
  • Reflectors
  • Integral Modules
  • A-Type

LED Driver Market by Driving Method:

  • Constant Voltage
  • Constant Current

LED Driver Market by End User:

  • Industrial Lighting
  • Outdoor & Traffic Lighting
  • Commercial Lighting
  • Residential Lighting
  • Others

Global LED Driver 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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