Mobile Security Market

Mobile Security Market Size By Offerings (Services and Solutions), By End-User (Individuals and Enterprises), By Organization (Large Enterprises and SMEs), and By Industry Vertical (Telecom & IT, Healthcare, Manufacturing, BFSI, Retail, Government & Defense, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13830
  • Published Date: Nov, 2023
  • Pages: 237
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global mobile security market was valued at USD 4.2 billion in 2022, growing at a CAGR of 20.4% from 2023 to 2032. The market is expected to reach USD 26.8 billion by 2032. One of the main factors propelling the mobile security market’s growth is the rise in the usage of laptops, tablets, smartphones, and other portable devices for personal and business use.

Market Introduction:

One of the most important components of mobile devices is mobile security, which gives tablets, laptops, and smartphones greater security features. Furthermore, the industry is growing because more people use mobile devices for jobs involving sensitive data, like credit card numbers, social security numbers, and crucial financial information. A vulnerability in mobile security can provide hackers instant access to a user's data and reveal a variety of information, such as the user's current position, bank account details, personal information, and a host of other details. The mobile application security solutions may be used on tablets and smartphones and are optimized for various operating systems, including Windows Phone, iOS, and Android. These technologies prevent unauthorized access to mobile applications and restrict access to private information.

Mobile Security Market Size

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Recent Development

In June 2023, A strategic agreement between Check Point Software Technologies Ltd. and Everphone was announced to improve mobile security measures and provide comprehensive cybersecurity protection.

In May 2023, IBM MaaS360 Mobile Device Management (SaaS) was released by the International Business Machines Corporation (IBM) to provide businesses with a strong solution for protecting mobile endpoints and enhancing their security posture.

Market Dynamics:

Drivers

Increase demand to bring your own device (BYOD)- To facilitate workplace mobility, businesses provide bring your own device (BYOD) services. Employees who wish to use their laptops, smartphones, or tablets at workstations can do so under the BYOD policy. Furthermore, BYOD provides mobile devices with secure network connectivity. The primary motivators behind BYOD adoption are higher employee happiness and productivity. On the other hand, organizations implementing BYOD often encounter significant challenges related to cyber attacks, unauthorized data access, and data loss or leakage. Therefore, mobile device security solutions are anticipated to increase in response to the growing demand for improved network security and better and enhanced data privacy and security. Additionally, businesses are focusing on network infrastructure security and privacy for mobile devices, which will fuel the expansion of the mobile security industry.

Restraints:

Lack of awareness- The billions of people who own smartphones use their devices to access various applications. Many users need to be made aware of the applications' privacy policies and the source from which they get them. Many people use laptops or mobile devices to visit untrusted websites and download unsecured software, which increases the risk of cyberattacks on these devices. The market's growth is hindered by a need for more knowledge about mobile device dangers and the security solutions available to counter them.

Opportunities:

Technological development- Over the past ten years, there has been an increase in the use of portable devices due to technological advancements. There is a noticeable rise in the usage of laptops, tablets, and smartphones for business, education, and personal use. In addition, the adoption of mobile or remote connectivity infrastructure is aided by the growing popularity of IoT and enterprise mobility. Nearly three-quarters of American workers will be mobile in the future years, according to a Soti, Inc. analysis. Approximately 20% of businesses that provide workplace mobility have encountered security-related problems and worries.

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 global mobile security market, with a 38.9% market revenue share in 2022.

The region is expected to grow significantly over the forecast period due to increased enterprise spending on information security solutions. To address security flaws in mobile network communications, the U.S. Department of Homeland Security (DHS) and several federal agencies, including the Science and Technology Directorate (S&T) and the Cybersecurity and Infrastructure Security Agency (CIST), are creating new standards and mobile security research and development initiatives as of April 2019. The United States had the biggest revenue share in North America in 2019 and is predicted to continue leading the region for the duration of the prediction. Increasing industries, including government and defence, retail, and mobility device usage, drive the regional market.

North America Region Mobile Security Market Share in 2022 - 38.9%

 

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Offerings Segment Analysis

The offerings segment is divided into services and solutions. The solutions segment dominated the market, with a market share of around 59% in 2022. People are adopting mobile security solutions due to increased demand for mobile organization size and device security to lessen risks from third-party apps and data breaches.

End-User Segment Analysis

The end-user segment is divided into individuals and enterprises. The enterprises segment dominated the market, with a market share of around 55% in 2022. Businesses of all sizes are adopting unified endpoint mobile security solutions to lower their exposure to data threats due to the surge in BYOD and workplace mobility.

Organization Segment Analysis

The organization segment is divided into large enterprises and SMEs. The large enterprises segment dominated the market, with a market share of around 52% in 2022. Large enterprises are investing in mobile security solutions to strengthen organizational defence against assaults or theft due to the growing dangers and phishing attempts on mobile devices.

Industry Vertical Segment Analysis

The industry vertical segment is divided into telecom & IT, healthcare, manufacturing, BFSI, retail, government & defence, and others. The telecom & IT segment dominated the market, with a market share of around 21% in 2022. Telecom and IT industry incumbents store enormous amounts of customer and organizational data. Moreover, introducing digital automation solutions has increased the possibility of malware and data theft, which can cause significant financial losses for businesses.

Some of the Key Market Players:
  • MobileIron, Inc.
  • Broadcom Inc.
  • Samsung Electronics Co. Ltd
  • Apple Inc.
  • BlackBerry Limited
  • IBM Corporation
  • Citrix Systems, Inc.
  • Google LLC
  • Microsoft Corporation
  • VMware, Inc.

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 4.2 Billion
Market size value in 2032 USD 26.8 Billion
CAGR (2023 to 2032) 20.4%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Offerings,  End-User, Organization,  Industry Vertical

Frequesntly Asked Questions

As per The Brainy Insights, the size of the mobile security market was valued at USD 4.2 billion in 2022 to USD 26.8 billion by 2032.

The global mobile security market is growing at a CAGR of 20.4% during the forecast period 2023-2032.

North America emerged as the largest mobile security market.

Key players in the mobile security market are MobileIron, Inc., Broadcom Inc., Samsung Electronics Co. Ltd, Apple Inc., BlackBerry Limited, IBM Corporation, Citrix Systems, Inc., Google LLC, Microsoft Corporation, and VMware, Inc.

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 Offerings
          4.3.2. Market Attractiveness Analysis by End-User
          4.3.3. Market Attractiveness Analysis by Organization
          4.3.4. Market Attractiveness Analysis by Industry Vertical
          4.3.5. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increase demand to bring your own device (BYOD)
    5.3. Restraints
          5.3.1. High cost
    5.4. Opportunities
          5.4.1. Technological development
    5.5. Challenges
          5.5.1. Lack of awareness

6. Global Mobile Security Market Analysis and Forecast, By Offerings
    6.1. Segment Overview
    6.2. Services
    6.3. Solutions

7. Global Mobile Security Market Analysis and Forecast, By End-User
    7.1. Segment Overview
    7.2. Individuals
    7.3. Enterprises

8. Global Mobile Security Market Analysis and Forecast, By Organization
    8.1. Segment Overview
    8.2. Large Enterprises
    8.3. SMEs

9. Global Mobile Security Market Analysis and Forecast, By Industry Vertical
    9.1. Segment Overview
    9.2. Telecom & IT
    9.3. Healthcare
    9.4. Manufacturing
    9.5. BFSI
    9.6. Retail
    9.7. Government & Defense
    9.8. Others

10. Global Mobile Security Market Analysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Mobile Security Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in Global Mobile Security Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. MobileIron, Inc.
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Product Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. Broadcom Inc.
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Product Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. Samsung Electronics Co. Ltd
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Product Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. Apple Inc.
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Product Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. BlackBerry Limited
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Product Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. IBM Corporation
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Product Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. Citrix Systems, Inc.
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Product Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. Google LLC
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Product Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. Microsoft Corporation
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Product Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. VMware, Inc.
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Product Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis
 

List of Table

1. Global Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

2. Global Services, Mobile Security Market, By Region, 2019-2032 (USD Billion) 

3. Global Solutions, Mobile Security Market, By Region, 2019-2032 (USD Billion) 

4. Global Mobile Security Market, By End-User, 2019-2032 (USD Billion)

5. Global Individuals, Mobile Security Market, By Region, 2019-2032 (USD Billion)

6. Global Enterprises, Mobile Security Market, By Region, 2019-2032 (USD Billion)

7. Global Mobile Security Market, By Organization, 2019-2032 (USD Billion)

8. Global Large Enterprises, Mobile Security Market, By Region, 2019-2032 (USD Billion) 

9. Global SMEs, Mobile Security Market, By Region, 2019-2032 (USD Billion) 

10. Global Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

11. Global Telecom & IT, Mobile Security Market, By Region, 2019-2032 (USD Billion) 

12. Global Healthcare, Mobile Security Market, By Region, 2019-2032 (USD Billion) 

13. Global Manufacturing, Mobile Security Market, By Region, 2019-2032 (USD Billion) 

14. Global BFSI, Mobile Security Market, By Region, 2019-2032 (USD Billion) 

15. Global Retail, Mobile Security Market, By Region, 2019-2032 (USD Billion) 

16. Global Government & Defense, Mobile Security Market, By Region, 2019-2032 (USD Billion) 

17. Global Others, Mobile Security Market, By Region, 2019-2032 (USD Billion) 

18. North America Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

19. North America Mobile Security Market, By End-User, 2019-2032 (USD Billion)

20. North America Mobile Security Market, By Organization, 2019-2032 (USD Billion)

21. North America Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

22. U.S. Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

23. U.S. Mobile Security Market, By End-User, 2019-2032 (USD Billion)

24. U.S. Mobile Security Market, By Organization, 2019-2032 (USD Billion)

25. U.S. Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

26. Canada Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

27. Canada Mobile Security Market, By End-User, 2019-2032 (USD Billion)

28. Canada Mobile Security Market, By Organization, 2019-2032 (USD Billion)

29. Canada Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

30. Mexico Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

31. Mexico Mobile Security Market, By End-User, 2019-2032 (USD Billion)

32. Mexico Mobile Security Market, By Organization, 2019-2032 (USD Billion)

33. Mexico Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

34. Europe Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

35. Europe Mobile Security Market, By End-User, 2019-2032 (USD Billion)

36. Europe Mobile Security Market, By Organization, 2019-2032 (USD Billion)

37. Europe Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

38. Germany Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

39. Germany Mobile Security Market, By End-User, 2019-2032 (USD Billion)

40. Germany Mobile Security Market, By Organization, 2019-2032 (USD Billion)

41. Germany Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

42. France Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

43. France Mobile Security Market, By End-User, 2019-2032 (USD Billion)

44. France Mobile Security Market, By Organization, 2019-2032 (USD Billion)

45. France Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

46. U.K. Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

47. U.K. Mobile Security Market, By End-User, 2019-2032 (USD Billion)

48. U.K. Mobile Security Market, By Organization, 2019-2032 (USD Billion)

49. U.K. Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

50. Italy Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

51. Italy Mobile Security Market, By End-User, 2019-2032 (USD Billion)

52. Italy Mobile Security Market, By Organization, 2019-2032 (USD Billion)

53. Italy Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

54. Spain Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

55. Spain Mobile Security Market, By End-User, 2019-2032 (USD Billion)

56. Spain Mobile Security Market, By Organization, 2019-2032 (USD Billion)

57. Spain Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

58. Asia Pacific Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

59. Asia Pacific Mobile Security Market, By End-User, 2019-2032 (USD Billion)

60. Asia Pacific Mobile Security Market, By Organization, 2019-2032 (USD Billion)

61. Asia Pacific Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

62. Japan Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

63. Japan Mobile Security Market, By End-User, 2019-2032 (USD Billion)

64. Japan Mobile Security Market, By Organization, 2019-2032 (USD Billion)

65. Japan Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

66. China Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

67. China Mobile Security Market, By End-User, 2019-2032 (USD Billion)

68. China Mobile Security Market, By Organization, 2019-2032 (USD Billion)

69. China Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

70. India Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

71. India Mobile Security Market, By End-User, 2019-2032 (USD Billion)

72. India Mobile Security Market, By Organization, 2019-2032 (USD Billion)

73. India Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

74. South America Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

75. South America Mobile Security Market, By End-User, 2019-2032 (USD Billion)

76. South America Mobile Security Market, By Organization, 2019-2032 (USD Billion)

77. South America Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

78. Brazil Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

79. Brazil Mobile Security Market, By End-User, 2019-2032 (USD Billion)

80. Brazil Mobile Security Market, By Organization, 2019-2032 (USD Billion)

81. Brazil Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

82. Middle East and Africa Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

83. Middle East and Africa Mobile Security Market, By End-User, 2019-2032 (USD Billion)

84. Middle East and Africa Mobile Security Market, By Organization, 2019-2032 (USD Billion)

85. Middle East and Africa Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

86. UAE Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

87. UAE Mobile Security Market, By End-User, 2019-2032 (USD Billion)

88. UAE Mobile Security Market, By Organization, 2019-2032 (USD Billion)

89. UAE Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

90. South Africa Mobile Security Market, By Offerings, 2019-2032 (USD Billion)

91. South Africa Mobile Security Market, By End-User, 2019-2032 (USD Billion)

92. South Africa Mobile Security Market, By Organization, 2019-2032 (USD Billion)

93. South Africa Mobile Security Market, By Industry Vertical, 2019-2032 (USD Billion)

List of Figures 

1. Global Mobile Security Market Segmentation

2. Global Mobile Security 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 Mobile Security Market Attractiveness Analysis by Offerings

9. Global Mobile Security Market Attractiveness Analysis by End-User

10. Global Mobile Security Market Attractiveness Analysis by Organization

11. Global Mobile Security Market Attractiveness Analysis by Industry Vertical

12. Global Mobile Security Market Attractiveness Analysis by Region

13. Global Mobile Security Market: Dynamics

14. Global Mobile Security Market Share by Offerings (2023 & 2032)

15. Global Mobile Security Market Share by End-User (2023 & 2032)

16. Global Mobile Security Market Share by Organization (2023 & 2032)

17. Global Mobile Security Market Share by Industry Vertical (2023 & 2032)

18. Global Mobile Security Market Share by Regions (2023 & 2032)

19. Global Mobile Security Market Share by Company (2022)

This study forecasts global, regional, and country revenue from 2019 to 2032. The Brainy Insights has segmented the global mobile security market based on the below-mentioned segments:

Global Mobile Security Market By Offerings:

  • Services
  • Solutions

Global Mobile Security Market By End-User:

  • Individuals
  • Enterprises

Global Mobile Security Market By Organization:

  • Large Enterprises
  • SMEs 

Global Mobile Security Market By Industry Vertical:

  • Telecom & IT
  • Healthcare
  • Manufacturing
  • BFSI
  • Retail
  • Government & Defense
  • Others  

Global Mobile Security 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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