Metaverse Market

Metaverse Market Size by Technology (Virtual Reality (VR), Blockchain, Mixed Reality (MR), & Augmented Reality (AR)), Component (Software, Hardware & Professional Services), End-User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12815
  • Published Date: Jul, 2022
  • Pages: 234
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global metaverse market is expected to reach USD 993.86 billion by 2030, at a CAGR of 43.20% from 2022 to 2030. Metaverse market growth would be driven by primary elements such as a change in the gaming industry and media & entertainment, also developing prospects from additional needs such as augmented reality, mixed reality, virtual reality, and digitalization in the retail & fashion domain.

Market Overview:

Metaverse is a cluster of connected online domains where physical, augmented, and virtual reality interact. The users can connect with their friends, travel, purchase goods, work, and services, and attend functions or events. Metaverse is a technology that changes the look of artificial intelligence, virtual technology, and gaming. Metaverse is a term that means the world of the internet. The platform supports an online 3D virtual environment via traditional personal computing and augmented reality. The metaverse is a word used to define a highly immersive 3D virtual world experience acquired via various technologies such as virtual reality, mixed reality, and augmented reality. The metaverse platform promotes the internet experience by setting a virtual world in which users can engross in gaming activity, socialize, buy and sell virtual real estate, business behavior, and enjoy the entertainment, among other things. Metaverse is one of the popular technology platforms luring different social networks, technology leaders, and online game makers to join and establish its existence within the market. The metaverse is the fastest-growing sensation with a considerate penetration rate of users for different applications such as content creation, social interaction, online virtual shopping, gaming, and learning and training. The metaverse is anticipated to enter a group of industries in multiple ways, with the possible market prospect or the total addressable market assessed at more than USD 1 trillion yearly earnings.

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Market Dynamics:

Drivers:
  • Rising need in the gaming and entertainment industry

The worldwide gaming and media & entertainment industry have noticed the most rapid growth due to the growing adoption of VR, MR, and AR technologies. These technologies are used in the devices like VR headsets, HUD (heads-up display), HMD (head-mounted display), MR headsets, smart glasses, and smart helmets, which gives a real-looking virtual scenarios to improve the gaming experience by end-customers. The customer experience has grown due to the introduction of these devices. And experiencing a realistic view, which gives a virtual experience, has been the best use of technology.

Restraints:
  • Risk of Cyber-Attacks

Cyber-based attacks on the metaverse are a significant concern in the global economy. Cyber-attacks are a primary concern for metaverse's smooth process. A cyber threat is a dangerous act that pushes software damage, interruption, and data-stealing, decreasing system effectiveness. For instance, cyberattacks contain data breaches and unlawful commands. Cyberattacks cause system failure, which leads metaverse to break down. Therefore, metaverse must be made to bypass and reduce cybercrime. Cybersecurity is critical in setting up a safe and dependable network for the proper function of a metaverse.

Opportunities:
  • Technological advancement in the defense & aerospace industry

Technologies like artificial intelligence, XR, and analytics in the defense & aerospace industry are beneficial for training. These technologies associated with metaverse are predicted to be useful for experience-based training using real-time data-driven applications. Therefore, the metaverse market allows trainees to transfer skills and improve knowledge retention across the vertical. Extended reality (XR) trains the ground-service crew member for airline pre-flight examinations. It is also utilized to help the maintenance crew to take necessary procedures before aircraft take-off. Additionally, the crew members can examine the data and find any breakdown before take-off by providing better safety. Combined with Extended Reality (XR), the metaverse can also support flight instruction, weapon training, and simulations that are propelling the market development.

Segmentation Analysis:

The global metaverse market has been segmented based on technology, component, end-user, and regions.

  • The technology segment is divided into virtual reality (VR), blockchain, mixed reality (MR), & augmented reality (AR). The augmented reality (AR) segment dominated the market, with a market share of around 28% in 2021. The capability of AR devices to link the real world with virtual objects has raised their need across different applications. AR smart glasses are the most required AR devices in industrial use, which helps the development of the AR devices segment.
  • The component segment is divided into software, hardware & professional services. The software segment dominated the market, with a market share of around 34% in 2021. The segment growth is due to the increased need for VR & AR web app development tools, Augmented Reality and Virtual Reality studios, cloud-based tools, VR and AR mobile app tools, and (SDK) Software Development Kits. The modeling & reconstruction, 3-Dimensional mapping, and volumetric video tools are vital elements for creating virtual worlds and games in metaverse platforms.
  • The end-user segment is divided into retail, BFSI, media & entertainment, education, aerospace & defense, automotive, and others. The media and entertainment segment dominated the market, with a market share of around 16% in 2021. The sector is moving toward improving the social interactions of participants. Furthermore, companies use the metaverse concept to add value to the entertainment industry, like virtual singing concerts during the pandemic.
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 metaverse market with a 34.5% share of the market revenue in 2021.

  • The growth of the metaverse solution is anticipated to be the highest in North America compared to other regions. Being technologically sound and developed, North America is the leading market by region in developing advanced technologies used in display devices. Additionally, the increasing expenditure of companies and individuals on digital solutions and cutting-edge technologies also boosts the market growth.

North America Region Metaverse 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 metaverse industry.

NVIDIA Corporation founded cutting-edge software for the artist. The company is preparing to publish a free advanced version of Omniverse software to make virtual worlds for individual artists. The company prepared to charge $ 9,000 yearly for corporate and personal consumers in January 2022.

List of Key Market Players:

  • Alibaba Cloud
  • Globant
  • Magic Leap, Inc.
  • Meta (Facebook Inc.
  • Microsoft Corporation
  • Netease Inc.
  • NVIDIA Corporation
  • Queppelin
  • Roblox Corporation
  • Tencent Holdings Ltd.

Key Target Audience

  • Automotive
  • Media & Entertainment
  • BFSI
  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers

Report Description:

  • Global Metaverse 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 metaverse 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 metaverse 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 metaverse based on technology, component, 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 metaverse 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 metaverse 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 metaverse 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 metaverse market was valued at USD 39.25 billion in 2021 to USD 993.86 billion by 2030.

Global metaverse market is growing at a CAGR of 43.20% during the forecast period 2022-2030.

The global metaverse market has been segmented based on technology, component, end user, and regions. The Augmented Reality (AR) segment led the market in 2021. The software segment led the market in 2021.

North America region emerged as the largest market for the metaverse market.

The market's growth will be influenced by rising need in the gaming and entertainment industry

Risk of cyber-attacks could hamper the market growth.

Correlation of the metaverse and adjacent technologies in defense & aerospace industry will provide huge opportunities to the market.

Key players are Alibaba Cloud, Globant, Magic Leap, Inc., Meta (Facebook Inc.), Microsoft Corporation, Netease Inc., NVIDIA Corporation, Queppelin, Roblox Corporation and Tencent Holdings Ltd.

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 Technology
          4.3.2. Market Attractiveness Analysis by Component
          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. Rising need in the gaming and entertainment industry
    5.3. Restraints
          5.3.1. Risk of cyber-attacks
    5.4. Opportunities
          5.4.1. Technological advancement in the defense & aerospace industry

6. Global Metaverse Market Analysis and Forecast, By Technology:
    6.1. Segment Overview
    6.2. Virtual Reality (VR)
    6.3. Blockchain
    6.4. Mixed Reality (MR)
    6.5. Augmented Reality (AR)

7. Global Metaverse Market Analysis and Forecast, By Component
    7.1. Segment Overview
    7.2. Software
    7.3. Hardware
    7.4. Professional Services

8. Global Metaverse Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Retail
    8.3. BFSI
    8.4. Media & Entertainment
    8.5. Education
    8.6. Aerospace & Defense
    8.7. Others

9. Global Metaverse 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 Metaverse Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Metaverse 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. Alibaba Cloud
          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. Globant
          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. Magic Leap, 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. Meta (Facebook 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. Microsoft Corporation
          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. Netease Inc.
          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. NVIDIA Corporation
          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. Queppelin
          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. Roblox Corporation
          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. Tencent Holdings Ltd
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Metaverse Market, By Technology, 2019-2030 (USD Billion) 

2. Global Virtual Reality (VR) Metaverse Market, By Region, 2019-2030 (USD Billion) 

3. Global Blockchain Metaverse Market, By Region, 2019-2030 (USD Billion) 

4. Global Mixed Reality (MR) Metaverse Market, By Region, 2019-2030 (USD Billion) 

5. Global Augmented Reality (AR) Metaverse Market, By Region, 2019-2030 (USD Billion) 

6. Global Metaverse Market, By Component, 2019-2030 (USD Billion) 

7. Global Software Metaverse Market, By Region, 2019-2030 (USD Billion) 

8. Global Hardware Metaverse Market, By Region, 2019-2030 (USD Billion)

9. Global Professional Services Metaverse Market, By Region, 2019-2030 (USD Billion)

10. Global Metaverse Market, By End User, 2019-2030 (USD Billion) 

11. Global Retail Metaverse Market, By Region, 2019-2030 (USD Billion) 

12. Global BFSI Metaverse Market, By Region, 2019-2030 (USD Billion)

13. Global Media & Entertainment Metaverse Market, By Region, 2019-2030 (USD Billion)

14. Global Education Metaverse Market, By Region, 2019-2030 (USD Billion)

15. Global Aerospace & Defense Metaverse Market, By Region, 2019-2030 (USD Billion)

16. Global Automotive Metaverse Market, By Region, 2019-2030 (USD Billion)

17. Global Others Metaverse Market, By Region, 2019-2030 (USD Billion)

18. North America Metaverse Market, By Technology, 2019-2030 (USD Billion) 

19. North America Metaverse Market, By Component, 2019-2030 (USD Billion) 

20. North America Metaverse Market, By End User, 2019-2030 (USD Billion) 

21. U.S. Metaverse Market, By Technology, 2019-2030 (USD Billion) 

22. U.S. Metaverse Market, By Component, 2019-2030 (USD Billion) 

23. U.S. Metaverse Market, By End User, 2019-2030 (USD Billion) 

24. Canada Metaverse Market, By Technology, 2019-2030 (USD Billion) 

25. Canada Metaverse Market, By Component, 2019-2030 (USD Billion) 

26. Canada Metaverse Market, By End User, 2019-2030 (USD Billion) 

27. Mexico Metaverse Market, By Technology, 2019-2030 (USD Billion) 

28. Mexico Metaverse Market, By Component, 2019-2030 (USD Billion) 

29. Mexico Metaverse Market, By End User, 2019-2030 (USD Billion) 

30. Europe Metaverse Market, By Technology, 2019-2030 (USD Billion) 

31. Europe Metaverse Market, By Component, 2019-2030 (USD Billion) 

32. Europe Metaverse Market, By End User, 2019-2030 (USD Billion) 

33. Germany Metaverse Market, By Technology, 2019-2030 (USD Billion) 

34. Germany Metaverse Market, By Component, 2019-2030 (USD Billion) 

35. Germany Metaverse Market, By End User, 2019-2030 (USD Billion) 

36. France Metaverse Market, By Technology 2019-2030 (USD Billion) 

37. France Metaverse Market, By Component, 2019-2030 (USD Billion) 

38. France Metaverse Market, By End User, 2019-2030 (USD Billion) 

39. U.K. Metaverse Market, By Technology, 2019-2030 (USD Billion) 

40. U.K. Metaverse Market, By Component, 2019-2030 (USD Billion) 

41. U.K. Metaverse Market, By End User, 2019-2030 (USD Billion) 

42. Italy Metaverse Market, By Technology, 2019-2030 (USD Billion) 

43. Italy Metaverse Market, By Component, 2019-2030 (USD Billion) 

44. Italy Metaverse Market, By End User, 2019-2030 (USD Billion) 

45. Spain Metaverse Market, By Technology, 2019-2030 (USD Billion) 

46. Spain Metaverse Market, By Component, 2019-2030 (USD Billion) 

47. Spain Metaverse Market, By End User, 2019-2030 (USD Billion) 

48. Asia Pacific Metaverse Market, By Technology, 2019-2030 (USD Billion) 

49. Asia Pacific Metaverse Market, By Component, 2019-2030 (USD Billion) 

50. Asia Pacific Metaverse Market, By End User, 2019-2030 (USD Billion) 

51. Japan Metaverse Market, By Technology, 2019-2030 (USD Billion) 

52. Japan Metaverse Market, By Component, 2019-2030 (USD Billion) 

53. Japan Metaverse Market, By End User, 2019-2030 (USD Billion) 

54. China Metaverse Market, By Technology 2019-2030 (USD Billion) 

55. China Metaverse Market, By Component, 2019-2030 (USD Billion) 

56. China Metaverse Market, By End User, 2019-2030 (USD Billion) 

57. India Metaverse Market, By Technology 2019-2030 (USD Billion) 

58. India Metaverse Market, By Component, 2019-2030 (USD Billion) 

59. India Metaverse Market, By End User, 2019-2030 (USD Billion) 

60. South America Metaverse Market, By Technology, 2019-2030 (USD Billion) 

61. South America Metaverse Market, By Component, 2019-2030 (USD Billion) 

62. South America Metaverse Market, By End User, 2019-2030 (USD Billion)

63. Brazil Metaverse Market, By Technology 2019-2030 (USD Billion) 

64. Brazil Metaverse Market, By Component, 2019-2030 (USD Billion) 

65. Brazil Metaverse Market, By End User, 2019-2030 (USD Billion) 

66. Middle East and Africa Metaverse Market, By Technology, 2019-2030 (USD Billion) 

67. Middle East and Africa Metaverse Market, By Component, 2019-2030 (USD Billion) 

68. Middle East and Africa Metaverse Market, By End User, 2019-2030 (USD Billion) 

69. UAE Metaverse Market, By Technology, 2019-2030 (USD Billion) 

70. UAE Metaverse Market, By Component, 2019-2030 (USD Billion) 

71. UAE Metaverse Market, By End User, 2019-2030 (USD Billion) 

72. South Africa Metaverse Market, By Technology 2019-2030 (USD Billion) 

73. South Africa Metaverse Market, By Component, 2019-2030 (USD Billion) 

74. South Africa Metaverse Market, By End User, 2019-2030 (USD Billion)  

List of Figures 

1. Global Metaverse Market Segmentation

2. Metaverse 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 Metaverse Market Attractiveness Analysis by Technology

9. Global Metaverse Market Attractiveness Analysis by Component

10. Global Metaverse Market Attractiveness Analysis by End User

11. Global Metaverse Market Attractiveness Analysis by Region

12. Global Metaverse Market: Dynamics

13. Global Metaverse Market Share by Technology (2022 & 2030)

14. Global Metaverse Market Share by Component (2022 & 2030)

15. Global Metaverse Market Share by End User (2022 & 2030)

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

17. Global Metaverse 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 metaverse market based on below mentioned segments:

Global Metaverse Market by Technology:

  • Virtual Reality (VR)
  • Blockchain
  • Mixed Reality (MR)
  • Augmented Reality (AR)

Global Metaverse Market by Component:

  • Software
  • Hardware
  • Professional Services

Global Metaverse Market by End User:

  • Retail
  • BFSI
  • Media & Entertainment
  • Education
  • Aerospace & Defense
  • Automotive
  • Others

Global Metaverse 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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