Modular Construction Market

Modular Construction Market Size By Product Type (Permanent, Relocatable), By Material (Concrete, Steel, Wood), By Application (Retail & Commercial, Residential, Education, Office, Healthcare, Hospitality), End-User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12952
  • Published Date: Sep, 2022
  • Pages: 234
  • Category: Chemicals & Materials
  • Format: PDF
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The global modular construction market is expected to reach USD 141.7 billion by 2030, at a CAGR of 5.9% during the forecast period 2022 to 2030. The market is anticipated to be driven by the increasing demand for affordable housing and increased investment in commercial and healthcare infrastructure development. Furthermore, the rising need for lower environmental impacts adds impetus to the market's growth during the forecast period.

Market Overview:

A building which is constructed somewhere else using a controlled plant condition, and then it is transported and assembled at the final location, this type of construction is called modular construction. This type of construction can incorporate various building types and floor plans in a single unit of the building. The buildings in modular construction are typically constructed with cold-form steel wall panels, steel, steel frame, and a hot-rolled steel framework. Steel is widely used in the construction of modular buildings as it is known for its strength-to-weight serviceability. Steel frames offer strength, security, design flexibility, durability, structural integrity, and fire resistance. This also reduces the need for frequent maintenance and repairs. The demand for modular construction has been rising owing to increasing concern for work-zone safety. The rising population and increasing urbanization also propel the growth of modular construction as the demand for housing is rapidly growing in big cities. As per a study, it has been found that modular construction saves almost 30-50% of the time over its traditional counterpart. The growing emphasis on efficiency, productivity, and workplace safety, along with reducing the cost and time associated with building activities, propels the market's growth.

Modular Construction Market Size

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Market Dynamics:

Drivers:

Increasing infrastructure investment

The rising industrialization and urbanization in most developing economies, such as India, Vietnam, and China, increase the need for infrastructure to accommodate the people living in these areas. An increase in investment to build better infrastructure for commercial and residential purposes drives the demand for the modular construction market. The rising number of patients needs better and more healthcare infrastructure, which also adds impetus to the market's growth.

Restraints:

Rising offsite manufacturing investments

Modular construction is associated with offsite manufacturing, which requires huge investments and gives long-term returns. The return can only be generated when the market growth is stable, so uncertainty restraints the market growth. Right from the project pre-planning to transportation and onsite installation requires huge investment, which hampers the market growth.

Opportunities:

Stringent eco-friendly regulations

Implementing stringent eco-friendly regulations in developing and developed countries to reduce construction waste and promote green building is expected to provide an opportunity for the market's growth for the forecast period. The products and machines used at a construction site produce a lot of pollution and waste, which needs to be reduced to reduce the carbon footprint. This is possible with the help of modular construction, which provides an opportunity for the market's growth.

Challenges:

Outbreak of Covid-19

The outbreak of the Covid-19 pandemic disrupted the development, growth, and working of most sectors worldwide. The construction work was stopped as the gathering of people was strictly prohibited to prevent the spread of diseases, which also affected the growth of the industries. The strict lockdowns challenged the market's growth as most industries were temporarily closed, and there were disruptions in the supply chain due to the imposed lockdown restrictions challenging the market's growth.

Segmentation Analysis:

The global modular construction market has been segmented based on product type, material, application, and region.

The product type segment is divided into permanent and relocatable. The permanent segment dominated the market, with a market share of around 65% in 2021. The permanent modular construction can be built to stand independently and assembled into an existing structure driving the segment's growth.

The material segment is divided into concrete, steel, and wood. Over the forecast period, the steel segment is expected to grow at the fastest CAGR of 6.6%. The steel segment has increased due to its rigidity, strength, and fire resistance quality.

The application segment is divided into retail & commercial, residential, education, office, healthcare, and hospitality‚Äč. In 2021, the healthcare segment dominated the market, accounting for around 19% of global revenue. The growing demand for improved healthcare infrastructure offers safe, quiet, and clean applications for the treatment, surgery, clinical, and dental use.

Regional Segmentation Analysis:

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

  • The Asia Pacific currently dominates the modular construction market with a 39% market revenue share in 2021. The demand for modular construction in the region has been growing owing to the ready availability of manpower and raw materials coupled with increasing innovations and development in the construction industry. Furthermore, the presence of a large population in the region also drives the growth of the modular construction market. The Asia Pacific also holds some of the fastest growing economies, such as India and two economic giants, Japan and China.

Asia Pacific Region Modular Construction Market Share in 2021 - 39%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new applications, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global modular construction market.

List of Key Market Players:

  • Laing O'Rourke
  • Red Sea Housing
  • Katerra
  • Skanska AB
  • Sekisui House Ltd
  • DuBox
  • Atco Ltd.
  • KLEUSBERG GmbH & Co KG
  • Algeco Scotsman
  • Lendlease Corporation

Key Target Audience

  • Market Players
  • Investors
  • End-Users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)
Attribute Description
Market Size Revenue (USD Million)
Market size value in 2021 USD 84.6 billion
Market size value in 2030 USD 141.7 billion
CAGR (2022 to 2030) 5.9%
Historical data 2019-2020
Base Year 2021
Forecast 2022-2030
Segments Product type, Application
Regional Segments North America, Europe, Asia Pacific, South America, and Middle East & Africa

Frequesntly Asked Questions

As per The Brainy Insights, the size of the modular construction market was valued at USD 84.6 billion in 2021 to USD 141.7 billion by 2030.

The global modular construction market is growing at a CAGR of 5.9% during the forecast period 2022-2030.

The increasing infrastructure investment will influence the market's growth.

The rising offsite manufacturing investments could hamper market growth.

Stringent eco-friendly regulations will provide considerable opportunities to the market.

Key players are Laing O'Rourke, Red Sea Housing, Katerra, Skanska AB, Sekisui House Ltd, DuBox, Atco Ltd., KLEUSBERG GmbH & Co KG, Algeco Scotsman, and Lendlease Corporation.

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 Product Type
          4.3.2. Market Attractiveness Analysis By Material
          4.3.3. Market Attractiveness Analysis By Application
          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. Increasing infrastructure investment
    5.3. Restraints
          5.3.1. Rising offsite manufacturing investments
    5.4. Opportunities
          5.4.1. Stringent eco-friendly regulations
    5.5. Challenges
          5.5.1. Outbreak of Covid-19

6. Global Modular Construction Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Permanent
    6.3. Relocatable

7. Global Modular Construction Market Analysis and Forecast, By Material
    7.1. Segment Overview
    7.2. Concrete
    7.3. Steel
    7.4. Wood

8. Global Modular Construction Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Retail & Commercial
    8.3. Residential
    8.4. Education
    8.5. Office
    8.6. Healthcare
    8.7. Hospitality

9. Global Modular Construction 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 Modular Construction Market-Competitive Landscape
    10.1. Overview
          10.1.1. Market Share of Key Players in the Modular Construction Market
          10.1.2. Global Company Market Share
          10.1.3. North America Company Market Share
          10.1.4. Europe Company Market Share
          10.1.5. APAC Company Market Share
    10.2. Competitive Situations and Trends
          10.2.1. Product Launches and Developments
          10.2.2. Partnerships, Collaborations, and Agreements
          10.2.3. Mergers & Acquisitions
          10.2.4. Expansions

11. Company Profiles
    11.1. Laing O'Rourke
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Red Sea Housing
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Katerra
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Skanska AB
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Sekisui House Ltd
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. DuBox
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Atco Ltd.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. KLEUSBERG GmbH & Co KG
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Component Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Algeco Scotsman
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Component Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Lendlease Corporation
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Component Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

2. Global Permanent Modular Construction Market, By Region, 2019-2030 (USD Billion) 

3. Global Relocatable Modular Construction Market, By Region, 2019-2030 (USD Billion)

4. Global Modular Construction Market, By Material, 2019-2030 (USD Billion) 

5. Global Concrete Modular Construction Market, By Region, 2019-2030 (USD Billion) 

6. Global Steel Modular Construction Market, By Region, 2019-2030 (USD Billion)

7. Global Wood Modular Construction Market, By Region, 2019-2030 (USD Billion)

8. Global Modular Construction Market, By Application, 2019-2030 (USD Billion) 

9. Global Retail & Commercial Modular Construction Market, By Region, 2019-2030 (USD Billion) 

10. Global Residential Modular Construction Market, By Region, 2019-2030 (USD Billion)

11. Global Education Modular Construction Market, By Region, 2019-2030 (USD Billion)

12. Global Office Modular Construction Market, By Region, 2019-2030 (USD Billion)

13. Global Healthcare Modular Construction Market, By Region, 2019-2030 (USD Billion)

14. Global Hospitality Modular Construction Market, By Region, 2019-2030 (USD Billion)

15. North America Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

16. North America Modular Construction Market, By Material, 2019-2030 (USD Billion) 

17. North America Modular Construction Market, By Application, 2019-2030 (USD Billion) 

18. U.S. Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

19. U.S. Modular Construction Market, By Material, 2019-2030 (USD Billion) 

20. U.S. Modular Construction Market, By Application, 2019-2030 (USD Billion) 

21. Canada Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

22. Canada Modular Construction Market, By Material, 2019-2030 (USD Billion) 

23. Canada Modular Construction Market, By Application, 2019-2030 (USD Billion) 

24. Mexico Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

25. Mexico Modular Construction Market, By Material, 2019-2030 (USD Billion) 

26. Mexico Modular Construction Market, By Application, 2019-2030 (USD Billion) 

27. Europe Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

28. Europe Modular Construction Market, By Material, 2019-2030 (USD Billion) 

29. Europe Modular Construction Market, By Application, 2019-2030 (USD Billion) 

30. Germany Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

31. Germany Modular Construction Market, By Material, 2019-2030 (USD Billion) 

32. Germany Modular Construction Market, By Application, 2019-2030 (USD Billion) 

33. France Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

34. France Modular Construction Market, By Material, 2019-2030 (USD Billion) 

35. France Modular Construction Market, By Application, 2019-2030 (USD Billion) 

36. U.K. Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

37. U.K. Modular Construction Market, By Material, 2019-2030 (USD Billion) 

38. U.K. Modular Construction Market, By Application, 2019-2030 (USD Billion) 

39. Italy Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

40. Italy Modular Construction Market, By Material, 2019-2030 (USD Billion) 

41. Italy Modular Construction Market, By Application, 2019-2030 (USD Billion) 

42. Spain Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

43. Spain Modular Construction Market, By Material, 2019-2030 (USD Billion) 

44. Spain Modular Construction Market, By Application, 2019-2030 (USD Billion) 

45. Asia Pacific Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

46. Asia Pacific Modular Construction Market, By Material, 2019-2030 (USD Billion) 

47. Asia Pacific Modular Construction Market, By Application, 2019-2030 (USD Billion) 

48. Japan Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

49. Japan Modular Construction Market, By Material, 2019-2030 (USD Billion) 

50. Japan Modular Construction Market, By Application, 2019-2030 (USD Billion) 

51. China Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

52. China Modular Construction Market, By Material, 2019-2030 (USD Billion) 

53. China Modular Construction Market, By Application, 2019-2030 (USD Billion) 

54. India Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

55. India  Modular Construction Market, By Material, 2019-2030 (USD Billion) 

56. India Modular Construction Market, By Application, 2019-2030 (USD Billion) 

57. South America Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

58. South America Modular Construction Market, By Material, 2019-2030 (USD Billion) 

59. South America Modular Construction Market, By Application, 2019-2030 (USD Billion) 

60. Brazil Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

61. Brazil Modular Construction Market, By Material, 2019-2030 (USD Billion) 

62. Brazil Modular Construction Market, By Application, 2019-2030 (USD Billion) 

63. The Middle East and Africa Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

64. The Middle East and Africa Modular Construction Market, By Material, 2019-2030 (USD Billion) 

65. The Middle East and Africa Modular Construction Market, By Application, 2019-2030 (USD Billion) 

66. UAE Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

67. UAE Modular Construction Market, By Material, 2019-2030 (USD Billion) 

68. UAE Modular Construction Market, By Application, 2019-2030 (USD Billion) 

69. South Africa Modular Construction Market, By Product Type, 2019-2030 (USD Billion) 

70. South Africa Modular Construction Market, By Material, 2019-2030 (USD Billion) 

71. South Africa Modular Construction Market, By Application, 2019-2030 (USD Billion) 

List of Figures 

1. Global Modular Construction Market Segmentation

2. Modular Construction 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 Modular Construction Market Attractiveness Analysis By Product Type

9. Global Modular Construction Market Attractiveness Analysis By Material

10. Global Modular Construction Market Attractiveness Analysis By Application

11. Global Modular Construction Market Attractiveness Analysis By Region

12. Global Modular Construction Market: Dynamics

13. Global Modular Construction Market Share by Product Type (2022 & 2030)

14. Global Modular Construction Market Share by Material (2022 & 2030)

15. Global Modular Construction Market Share by Application (2022 & 2030)

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

17. Global Modular Construction Market Share by Company (2021)

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

Global Modular Construction Market by Product Type:

  • Permanent
  • Relocatable

Global Modular Construction Market by Material:

  • Concrete
  • Steel
  • Wood

Global Modular Construction Market by Application:

  • Retail & Commercial
  • Residential
  • EducationOffice
  • Healthcare
  • Hospitality

Global Modular Construction 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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