Music Streaming Market

Music Streaming Market Size by Content Type (Audio and Video), By Platform (Browsers and Apps), By End-User (Commercial and Individual), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-13646
  • Published Date: Jul, 2024
  • Pages: 236
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global music streaming market was valued at USD 25.75 billion in 2023, growing at a CAGR of 10.2% from 2024 to 2033. The market is expected to reach USD 61.72 billion by 2033. The market's expansion can be linked to the expanding popularity of music streaming platforms and individuals' increasing disposable income. Some of the most well-known digital music services are Spotify, YouTube Music, Pandora, SoundCloud, iHeartRadio, and Apple Music. During the forecast period, there is anticipated to be a surge in the utilization of smart devices and digital platforms. Online portals that allow users to stream music videos, audio tracks, and podcasts are classified as music streaming services. These channels are popular because they offer automatic playlist creation, song suggestions, and effortless connectivity through apps or web browsers. Additionally, increased podcast genres through these platforms contribute to market growth and development.

The pandemic caused by COVID-19 has expedited collaboration among music artists, resulting in new prospects for companies involved in the music streaming market. Due to this increased cooperation, advertisements and subscriptions have become more lucrative, prompting these organizations to search through data on various musicians so they can target local users and generate greater ROI. Consequently, video-streaming sites like Twitch that showcase musical performances are experiencing a surge in viewership during the current crisis.

Market Introduction:

Online music streaming is distributing music without requiring the user to download any files from the internet. Music is saved in the servers' database and is instantaneously delivered in real-time via the internet to the streamer or users' device. Users of online music streaming services can listen to music videos, audio songs, podcasts, and live performances by musicians. On both the app and browser platforms, online music streaming service providers include features such as customized playlists, song recommendations, and simple access to music. The growing popularity of podcasts has caught consumers' attention recently, and it is projected to drive the growth of the global market over the forecast period. Furthermore, thanks to the rapid use of smart devices such as smartphones and the growing popularity of digital platforms such as Spotify, Amazon Music, and Deezer, online music streaming has gained significant traction in recent years. Furthermore, global internet usage is favourably boosting the music streaming market. The rise of music streaming systems such as Spotify and Apple Music have significantly reduced illicit music sharing and downloading over the internet, which earned no money for music labels or artists. This has significantly reduced the threat of piracy, making online music streaming services a trustworthy choice for artists and music companies like Universal Music Publishing Group, Sony Music Entertainment, and Warner Music Group.

Music Streaming Market Size

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Recent Development

In July 2020, Spotify introduced its services in Russia and twelve other European nations, including Albania, Belarus, Croatia, Kazakhstan, Kosovo, Bosnia and Herzegovina, Moldova, Montenegro, North Macedonia, Serbia, Slovenia, and Ukraine.

Market Dynamics:

Drivers

Rising Popularity- The market will be driven by rising demand for music streaming services during the forecast period. In Q2 2022, customers using premium subscription services to stream music increased by 30.5% globally. Every month, one million new users pick music streaming services. Globally, the advancement of wired and wireless technology and telecommunications standards such as 3G, 4G, and 5G is increasing internet bandwidth and facilitating the global adoption of music streaming services. Music streaming services aid in the prevention of unauthorized music downloading and sharing. The majority of subscribers are between the ages of 18 and 40.

Restraints:

Lack of Ownership- One disadvantage of music streaming services is that members need their songs. Furthermore, not all music streaming service providers enable music downloads, so consumers must be connected to the internet to stream music. Customers are projected to be discouraged from subscribing to music streaming services because of a lack of ownership, stifling industry growth during the forecast period. 

Opportunities:

Launching New Services- Providers are progressively launching distinct music streaming services in the music streaming market. YouTube Music, Spotify, Pandora, Deezer, and Tidal offer various services, such as easy cross-platform access, automatic playlist customization, and high-quality sound. Users of YouTube Music and Pandora, for example, receive personalized recommendations. This is one of the services that sets us apart from the competition. Alphabet's YouTube Music selects music and recommends them to users based on information from the user's Google account and artificial intelligence technology. It also recommends music based on the customer's current location.

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 music streaming market, with a 42% market revenue share in 2023.

The presence of important market companies such as Pandora Media, Inc., Amazon.com, Inc., Google LLC, and Apple, Inc. is a crucial factor driving market growth in this area. Furthermore, the availability of fixed wireless internet, smart gadgets, and online payment technologies is boosting regional market growth. Amazon.com, Inc., for example, has capitalized on this potential by establishing a new music HD service that will give lossless music tracks and downloads to music fans in the United States. Furthermore, emerging technical advances such as artificial intelligence, virtual reality, and machine learning will likely enable service providers to provide personalized playlists and a smooth user experience, propelling market expansion.

North America Region Music Streaming Market Share in 2023 - 42%

 

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Content Type Segment Analysis

The content type segment is divided into audio and video. The audio segment dominated the market, with a market share of around 56% in 2023. The growth can be attributed to its ease of use in catering to listeners' multitasking tendencies, as it allows users to engage in activities such as exercising, commuting, or performing household chores that require audio content to provide a seamless and convenient entertainment experience.

Platform Segment Analysis

The platform segment is divided into browsers and apps. The apps segment dominated the market, with a market share of around 54% in 2023. The apps may provide consumers with an enormous music library, personalized suggestions, and seamless synchronization of playlists and preferences across numerous devices by leveraging cloud-based infrastructure.

End-User Segment Analysis

The end-user segment is divided into commercial and individual. The individual segment dominated the market, with a market share of around 58% in 2023. This is due to younger generations' changing lives, which embrace incorporating music into their everyday routines. Furthermore, as wireless networks become more widely available and mobile device adoption rises, the individual end-use segment will likely expand over the forecast period.

Some of the Key Market Players:
  • Spotify AB
  • Apple, Inc.
  • Amazon.com, Inc.
  • Google LLC
  • Deezer SA
  • Pandora Media, Inc.
  • Tencent Music Entertainment Group
  • Tidal
  • SoundCloud Global Limited & Co. KG
  • iHeartMedia, Inc.

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 25.75 Billion
Market size value in 2033 USD 61.72 Billion
CAGR (2024 to 2033) 10.2%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
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 Content Type, Platform, End-User

Frequesntly Asked Questions

As per The Brainy Insights, the size of the music streaming market was valued at USD 25.75 billion in 2023 to USD 61.72 billion by 2033.

The global music streaming market is growing at a CAGR of 10.2% during the forecast period 2024-2033.

North America emerged as the largest music streaming market.

Key players in the music streaming market are Spotify AB, Apple, Inc., Amazon.com, Inc., Google LLC, Deezer SA, Pandora Media, Inc., Tencent Music Entertainment Group, Tidal, SoundCloud Global Limited & Co. KG, and iHeartMedia, 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 Content Type
          4.3.2. Market Attractiveness Analysis by Platform
          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 popularity
    5.3. Restraints
          5.3.1. Lack of ownership
    5.4. Opportunities
          5.4.1. Launching new services
    5.5. Challenges
          5.5.1. High cost

6. Global Music Streaming Market Analysis and Forecast, By Content Type
    6.1. Segment Overview
    6.2. Audio
    6.3. Video

7. Global Music Streaming Market Analysis and Forecast, By Platform
    7.1. Segment Overview
    7.2. Browsers
    7.3. Apps

8. Global Music Streaming Market Analysis and Forecast, By End-User
    8.1. Segment Overview
    8.2. Commercial
    8.3. Individual

9. Global Music Streaming 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 Music Streaming Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Music Streaming 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. Spotify AB
          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. Apple, Inc.
          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. Amazon.com, 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. Google LLC
          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. Deezer SA
          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. Pandora Media, 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. Tencent Music Entertainment Group
          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. Tidal
          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. SoundCloud Global Limited & Co. KG
          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. iHeartMedia, Inc.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

2. Global Audio, Music Streaming Market, By Region, 2020-2033 (USD Billion) 

3. Global Video, Music Streaming Market, By Region, 2020-2033 (USD Billion) 

4. Global Music Streaming Market, By Platform, 2020-2033 (USD Billion)

5. Global Browsers, Music Streaming Market, By Region, 2020-2033 (USD Billion)

6. Global Apps, Music Streaming Market, By Region, 2020-2033 (USD Billion)

7. Global Music Streaming Market, By End-User, 2020-2033 (USD Billion)

8. Global Commercial, Music Streaming Market, By Region, 2020-2033 (USD Billion) 

9. Global Individual, Music Streaming Market, By Region, 2020-2033 (USD Billion) 

10. North America Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

11. North America Music Streaming Market, By Platform, 2020-2033 (USD Billion)

12. North America Music Streaming Market, By End-User, 2020-2033 (USD Billion)

13. U.S. Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

14. U.S. Music Streaming Market, By Platform, 2020-2033 (USD Billion)

15. U.S. Music Streaming Market, By End-User, 2020-2033 (USD Billion)

16. Canada Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

17. Canada Music Streaming Market, By Platform, 2020-2033 (USD Billion)

18. Canada Music Streaming Market, By End-User, 2020-2033 (USD Billion)

19. Mexico Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

20. Mexico Music Streaming Market, By Platform, 2020-2033 (USD Billion)

21. Mexico Music Streaming Market, By End-User, 2020-2033 (USD Billion)

22. Europe Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

23. Europe Music Streaming Market, By Platform, 2020-2033 (USD Billion)

24. Europe Music Streaming Market, By End-User, 2020-2033 (USD Billion)

25. Germany Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

26. Germany Music Streaming Market, By Platform, 2020-2033 (USD Billion)

27. Germany Music Streaming Market, By End-User, 2020-2033 (USD Billion)

28. France Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

29. France Music Streaming Market, By Platform, 2020-2033 (USD Billion)

30. France Music Streaming Market, By End-User, 2020-2033 (USD Billion)

31. U.K. Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

32. U.K. Music Streaming Market, By Platform, 2020-2033 (USD Billion)

33. U.K. Music Streaming Market, By End-User, 2020-2033 (USD Billion)

34. Italy Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

35. Italy Music Streaming Market, By Platform, 2020-2033 (USD Billion)

36. Italy Music Streaming Market, By End-User, 2020-2033 (USD Billion)

37. Spain Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

38. Spain Music Streaming Market, By Platform, 2020-2033 (USD Billion)

39. Spain Music Streaming Market, By End-User, 2020-2033 (USD Billion)

40. Asia Pacific Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

41. Asia Pacific Music Streaming Market, By Platform, 2020-2033 (USD Billion)

42. Asia Pacific Music Streaming Market, By End-User, 2020-2033 (USD Billion)

43. Japan Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

44. Japan Music Streaming Market, By Platform, 2020-2033 (USD Billion)

45. Japan Music Streaming Market, By End-User, 2020-2033 (USD Billion)

46. China Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

47. China Music Streaming Market, By Platform, 2020-2033 (USD Billion)

48. China Music Streaming Market, By End-User, 2020-2033 (USD Billion)

49. India Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

50. India Music Streaming Market, By Platform, 2020-2033 (USD Billion)

51. India Music Streaming Market, By End-User, 2020-2033 (USD Billion)

52. South America Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

53. South America Music Streaming Market, By Platform, 2020-2033 (USD Billion)

54. South America Music Streaming Market, By End-User, 2020-2033 (USD Billion)

55. Brazil Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

56. Brazil Music Streaming Market, By Platform, 2020-2033 (USD Billion)

57. Brazil Music Streaming Market, By End-User, 2020-2033 (USD Billion)

58. Middle East and Africa Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

59. Middle East and Africa Music Streaming Market, By Platform, 2020-2033 (USD Billion)

60. Middle East and Africa Music Streaming Market, By End-User, 2020-2033 (USD Billion)

61. UAE Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

62. UAE Music Streaming Market, By Platform, 2020-2033 (USD Billion)

63. UAE Music Streaming Market, By End-User, 2020-2033 (USD Billion)

64. South Africa Music Streaming Market, By Content Type, 2020-2033 (USD Billion)

65. South Africa Music Streaming Market, By Platform, 2020-2033 (USD Billion)

66. South Africa Music Streaming Market, By End-User, 2020-2033 (USD Billion)

List of Figures 

1. Global Music Streaming Market Segmentation

2. Global Music Streaming 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 Music Streaming Market Attractiveness Analysis by Content Type

9. Global Music Streaming Market Attractiveness Analysis by Platform

10. Global Music Streaming Market Attractiveness Analysis by End-User

11. Global Music Streaming Market Attractiveness Analysis by Region

12. Global Music Streaming Market: Dynamics

13. Global Music Streaming Market Share by Content Type (2023 & 2033)

14. Global Music Streaming Market Share by Platform (2023 & 2033)

15. Global Music Streaming Market Share by End-User (2023 & 2033)

16. Global Music Streaming Market Share by Regions (2023 & 2033)

17. Global Music Streaming Market Share by Company (2023)

This study forecasts global, regional, and country revenue from 2020 to 2033. The Brainy Insights has segmented the global music streaming market based on the below-mentioned segments:

Global Music Streaming Market By Content Type:

  • Audio
  • Video

Global Music Streaming Market By Platform:

  • Browsers
  • Apps

Global Music Streaming Market By End-User:

  • Commercial
  • Individual

Global Music Streaming 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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