Packaging Robots Market

Packaging Robots Market Size By Gripper Type (Claw, Clamp, and Vacuum), By Application (Pick & place, Packing, Case packing, Tray packing, Filling, and Others), Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-13189
  • Published Date: Jul, 2024
  • Pages: 235
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The packaging robots market was estimated at around USD 4.07 billion in 2023, growing at a CAGR of nearly 7.04% during 2024 - 2033. The market is projected to reach approximately USD 8.03 billion by 2033.

Packaging Robots Market: Overview

Packaging robots are automated systems, robots, and specialized software used to automate and expedite various processes in packaging. Systems for packaging robots are utilized in a variety of business sectors, including pharmaceuticals, consumer goods, logistics, food & beverage, and others. In order to take up flat materials like glass or metal sheets, vacuum grippers are frequently utilized. During the packaging and palletizing procedures, these grippers hold many objects simultaneously using suction caps. Vacuum grippers are used to handle items like large crates, cartons, cans, and bottles and are hence widely used in the packaging industry. The purpose of packaging robots is to enable the packaging of items by handling materials, moving or packing things, sealing & labelling, and other operations. Significantly adaptable and simple to integrate into a workspace, these robots. Packaging robots provide precision, speed, and productivity when compared to manual procedures, and they also provide a quick return on investment (ROI). A wide variety of businesses, including retail, pharmaceuticals, and food and beverage, are heavily utilizing these robots. The ability to lift larger packages, the speed at which parts are packaged, and the cost of labor are a few of the key benefits of packaging robots.

Packaging Robots Market Size

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Packaging Robots Market: COVID – 19 Impact Analysis

Many businesses in the global market for packaging robots were obliged to temporarily suspend operations due to the COVID-19 pandemic in order to adhere to new rules put in place by the government to stop the disease's spread. The global market's revenue flow was immediately influenced by this suspension of operations. Industrial product production also came to a halt during the lockdown due to a shortage of labor and raw supplies. Furthermore, businesses in this industry did not receive any fresh shipments. Therefore, the global market was impacted by the suspension of industrial activity and lockdowns for several months, and it is projected that the market will see a delayed recovery over the projection period.

Packaging Robots Market: Growth Drivers

Packaging robots benefits would drive the market

Packaging robots are reliable and offer great branding information on labels. After products are packaged, a unique identification code is generated to aid in tracking them throughout the supply chain. Robotics' unquestionable adaptability is their main benefit in the packaging sector. Robotic packaging systems, like pick-and-place robots, can also be exceptionally accurate and precise because to their slim arms with a wide reach, strong repeatability, and precision tooling. Because of their high level of precision, they are appropriate for a variety of packaging and supply chain tasks. The use of robot packing equipment can also improve product quality and cycle time. Because robotic operations are regulated, the quality of the packing is improved because the outputs are always uniform. This accuracy enables the packaging processes to go smoothly. The fundamental force for market expansion has been the advantages of robotic packing. These robots don't require any maintenance and can run at a high rate for at least 70,000 hours. Entrepreneurs are becoming more aware about time, expense, and sales. To succeed in the market, a competitive product must be created. Without sacrificing efficiency or quality, automation of production lines helps businesses to optimize innovation.

Demand for highly automated packing lines is rising

The packaging process is essential in manufacturing facilities, especially for those that produce products for the consumer market. Installation of a robotic packaging system improves flexibility and maximizes the packaging line's overall output. Additionally, packaging robots require much less floor area than people and may operate in a variety of temperature ranges. The food, beverage, and pharmaceutical industries frequently use robotic packaging for primary and secondary packaging applications. In turn, this is anticipated to accelerate the expansion of the packaging robots market globally in the near future.

Packaging Robots Market: Segmentation Analysis

The packaging robots market is segmented into the gripper type and application. Based on gripper type, the market for vacuum grippers segment is estimated to lead the market during the forecast period. In order to acquire level materials like metal or glass sheets, vacuum grippers are frequently utilized. These grippers quickly capture a range of objects using pull covers throughout the packaging and palletizing processes. Vacuum grippers are currently widely utilized in the packing sector because of their ability to handle objects such huge boxes, jars, and containers.

By application, the pick & place application segment is anticipated to dominant the packaging robots market during the forecast period. This is because of the e-commerce industry's explosive growth and the usage of packaging robots to replace labor-intensive and difficult hand picking. Additionally, the benefits of packaging robots, such as less damage, lower costs, and greater efficiency in pick and place operations, will boost the industry.

Report Scope

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023  USD 4.07 billion
Market size value in 2033  USD 8.03 billion
CAGR (2024 to 2033)  7.04%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region  North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Segments  By Gripper Type
 By Application
Key Insights:
  • Based on gripper type segmentation, the vacuum grippers segment is estimated to hold the largest market share during the forecast period.
  • Based on application segmentation, the pick & place segment is the leading revenue-generating category during the forecast period.
  • On the basis of geography/region, the Asia-Pacific region was the leading revenue generator in 2023.
Recent Development
  • May 2022: Fanuc Corporation, one of the largest robot manufacturers, unveiled the R-2000id robot with cable-integrated technology. In addition to packing, this robot offers sophisticated capabilities like picking, positioning, and auto checking.
  • May 2019: ICONICS Inc., a U.S.-based software business with an emphasis on data collecting and supervisory control, was purchased by Mitsubishi Electric Corporation (SCADA).
Regional Landscape

It is projected that Asia-Pacific, which presently commands the majority of the market's revenue share, will continue to be one of the most enticing marketplaces during the projection period. The widespread use of vision sensor technology and the increasing popularity of packaging robots as a result of high levels of automation and intelligent modernization are just a couple of the many variables that contribute to this. The rising employment of these robots, which can operate in a variety of temperatures and take up substantially less floor area than people, is another factor boosting this industry's growth.

Asia-Pacific region Packaging Robots Share in 2023 - 44.2%

 

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List of the prominent players in the Global Packaging robots market:
  • Comau
  • FANUC Corporation
  • Krones AG
  • ABB Group
  • Bosch Packaging Technology
  • Brenton, LLC.
  • Universal Robots A/S
  • Mitsubishi Electric Corporation
  • Remtec Automation, LLC.
  • Schneider Electric SA

The global Packaging robots market is segmented as follows:

By Gripper Type

  • Claw
  • Clamp
  • Vacuum

By Application

  • Pick & place
  • Packing
  • Case packing
  • Tray packing
  • Filling
  • Others

By Region/Geography

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
  • The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope

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 Gripper Type
          4.3.2. Market Attractiveness Analysis By Application
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Packaging robots benefits would drive the market
          5.2.2. Demand for highly automated packing lines is rising
    5.3. Restrains
          5.3.1. High capital investment is expected to hamper the market
    5.4. Opportunities
          5.4.1. Growing focus on end-use industries on quality, product safety, and shelf life

6. Global Packaging Robots Market Analysis and Forecast, By Gripper Type
    6.1. Segment Overview
    6.2. Claw
    6.3. Clamp
    6.4. Vacuum

7. Global Packaging Robots Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Pick & place
    7.3. Packing
    7.4. Case packing
    7.5. Tray packing
    7.6. Filling
    7.7. Others

8. Global Packaging Robots Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
          8.3.6. Rest of Europe
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
          8.4.4. Australia
          8.4.5. South Korea
          8.4.6. Rest of Asia-Pacific
    8.5. South America
          8.5.1. Brazil
          8.5.2. Argentina
          8.5.3. Rest of South America
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa
          8.6.3. Egypt
          8.6.4. Kuwait
          8.6.5. Saudi Arabia
          8.6.6. Rest of Middle East & Africa

9. Global Packaging Robots Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Packaging Robots Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Gripper Type Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Comau
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Application Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. FANUC Corporation
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Application Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Krones AG
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Application Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. ABB Group
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Application Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Bosch Packaging Technology
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Application Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Brenton, LLC.
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Application Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Universal Robots A/S
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Application Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Mitsubishi Electric Corporation
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Application Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Remtec Automation, LLC.
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Application Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Schneider Electric SA
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Application Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis

List of Table

1. Global Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

2. Global Claw Packaging Robots Market, By Region, 2020-2033(USD Billion) 

3. Global Clamp Packaging Robots Market, By Region, 2020-2033(USD Billion) 

4. Global Vacuum Packaging Robots Market, By Region, 2020-2033(USD Billion)

5. Global Packaging Robots Market, By Application, 2020-2033(USD Billion) 

6. Global Pick & Place Packaging Robots Market, By Region, 2020-2033(USD Billion) 

7. Global Packing Packaging Robots Market, By Region, 2020-2033(USD Billion) 

8. Global Case Packing Packaging Robots Market, By Region, 2020-2033(USD Billion) 

9. Global Tray Packing Packaging Robots Market, By Region, 2020-2033(USD Billion) 

10. Global Filling Packaging Robots Market, By Region, 2020-2033(USD Billion) 

11. Global Others Packaging Robots Market, By Region, 2020-2033(USD Billion) 

12. Global Packaging Robots Market, By Region, 2020-2033(USD Billion) 

13. Global Packaging Robots Market, By North America, 2020-2033(USD Billion) 

14. North America Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

15. North America Packaging Robots Market, By Application, 2020-2033(USD Billion) 

16. U.S. Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

17. U.S. Packaging Robots Market, By Application, 2020-2033(USD Billion)  

18. Canada Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

19. Canada Packaging Robots Market, By Application, 2020-2033(USD Billion) 

20. Mexico Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

21. Mexico Packaging Robots Market, By Application, 2020-2033(USD Billion) 

22. Europe Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

23. Europe Packaging Robots Market, By Application, 2020-2033(USD Billion) 

24. Germany Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

25. Germany Packaging Robots Market, By Application, 2020-2033(USD Billion) 

26. France Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

27. France Packaging Robots Market, By Application, 2020-2033(USD Billion) 

28. U.K. Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

29. U.K. Packaging Robots Market, By Application, 2020-2033(USD Billion)  

30. Italy Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

31. Italy Packaging Robots Market, By Application, 2020-2033(USD Billion) 

32. Spain Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

33. Spain Packaging Robots Market, By Application, 2020-2033(USD Billion)

34. Rest of Europe Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

35. Rest of Europe Packaging Robots Market, By Application, 2020-2033(USD Billion)

36. Asia Pacific Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

37. Asia Pacific Packaging Robots Market, By Application, 2020-2033(USD Billion) 

38. Japan Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

39. Japan Packaging Robots Market, By Application, 2020-2033(USD Billion) 

40. China Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

41. China Packaging Robots Market, By Application, 2020-2033(USD Billion) 

42. India Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

43. India Packaging Robots Market, By Application, 2020-2033(USD Billion) 

44. Australia Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

45. Australia Packaging Robots Market, By Application, 2020-2033(USD Billion) 

46. South Korea Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

47. South Korea Packaging Robots Market, By Application, 2020-2033(USD Billion) 

48. Rest of Asia-Pacific Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

49. Rest of Asia-Pacific Packaging Robots Market, By Application, 2020-2033(USD Billion) 

50. South America Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

51. South America Packaging Robots Market, By Application, 2020-2033(USD Billion)  

52. Brazil Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

53. Brazil Packaging Robots Market, By Application, 2020-2033(USD Billion) 

54. Argentina Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

55. Argentina Packaging Robots Market, By Application, 2020-2033(USD Billion) 

56. Rest of Latin America Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

57. Rest of Latin America Packaging Robots Market, By Application, 2020-2033(USD Billion) 

58. Middle East and Africa Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

59. Middle East and Africa Packaging Robots Market, By Application, 2020-2033(USD Billion) 

60. UAE Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

61. UAE Packaging Robots Market, By Application, 2020-2033(USD Billion) 

62. South Africa Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

63. South Africa Packaging Robots Market, By Application, 2020-2033(USD Billion) 

64. Egypt Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

65. Egypt Packaging Robots Market, By Application, 2020-2033(USD Billion) 

66. Kuwait Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

67. Kuwait Packaging Robots Market, By Application, 2020-2033(USD Billion) 

68. Saudi Arabia Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

69. Saudi Arabia Packaging Robots Market, By Application, 2020-2033(USD Billion) 

70. Rest of Middle East Packaging Robots Market, By Gripper Type, 2020-2033(USD Billion) 

71. Rest of Middle East Packaging Robots Market, By Application, 2020-2033(USD Billion) 

List of Figures 

1. Global Packaging Robots Market Segmentation

2. Packaging Robots 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 Packaging Robots Market Attractiveness Analysis By Gripper Type

9. Global Packaging Robots Market Attractiveness Analysis By Application

10. Global Packaging Robots Market Attractiveness Analysis By Region

11. Global Packaging Robots Market: Dynamics

12. Global Packaging Robots Market Share By Gripper Type(2023 & 2033)

13. Global Packaging Robots Market Share By Application(2023 & 2033)

14. Global Packaging Robots Market Share by Regions (2023 & 2033)

15. Global Packaging Robots Market Share by Company (2023)

By Gripper Type

  • Claw
  • Clamp
  • Vacuum

By Application

  • Pick & place
  • Packing
  • Case packing
  • Tray packing
  • Filling
  • Others

By Region/Geography

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
  • The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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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