Global remote asset management market is expected to reach USD 65.13 billion by 2030, at a CAGR of 15% from 2021 to 2030.The increasing adoption of the "Internet of Things" for efficient asset management operations and asset life cycle optimization offers a substantial return on investment for asset-intensive businesses, which is fueling the market expansion over the forecast period.
For enterprises in several industries, remote asset management allows remote maintenance and monitoring of assets, systems, and machinery. Businesses can increase operational efficiencies by implementing such solutions through predictive and preventative maintenance. Implementing a solution will boost overall equipment efficiency, as well as asset management and control. These management systems have been deployed by businesses to improve remote asset authentication and reduce maintenance expenses. Remote asset management is a technique that entails using a remote server to receive and process data from fixed or mobile communications devices that is connected to certain remote asset management applications. Asset tracking, monitoring, and management in real-time for effective utilization, predictive maintenance, and cost-effective operation resulting in greater returns are all possible with remote asset management. Sensors attached to devices collect information about assets for remote asset management.
Get an overview of this study by requesting a free sample
The widespread adoption of Internet of Things (IoT)-based asset management and other advanced technologies has resulted in a massive expansion of the global remote asset management industry. It also aids in enhancing the asset's lifecycle. Not only that, but the remote asset management market contributes to a cost-effective solution by lowering the cost of internet of things (IOT) components, which drives the remote asset management market's global growth.
The adoption of remote asset management is hampered by traditional organizational culture. As a result, the global remote asset management market's growth is constrained.
The growing demand for connected devices and the low cost of cloud computing services provide the remote asset management market with numerous growth prospects to spread around the globe. In addition, the advancement of communication and technology (ICT) creates opportunities for growth. Another element that creates opportunities for growth is the growing number of government initiatives in various developing and developed regions with high growth potential.
The growing concerns of enterprises about data security and confidentiality are projected to impede the growth of the remote asset management market.
The global remote asset management market has been segmented based on component, asset type, deployment mode, organization size, vertical and regions.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. North America region emerged as the largest market for the global remote asset management market with a 30.2%share of the market revenue in 2020.
North America region Remote Asset Management Market Share in 2020 - 30.2%
www.thebrainyinsights.com
Check the geographical analysis of this market by requesting a free sample
The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global remote asset management industry.
Cisco announced a new Cisco Validated Design (CVD) for remote and mobile asset solutions in January 2019. This will aid in the creation of new revenue streams from thousands of dispersed assets while also lowering operating costs.
Siemens acquired Pixeom's edge computing platform in October 2019. For Siemen's future industrial edge ecology, the platform is essential. Companies can easily assess, design, and manage edge applications in data and factory environments, and it can be utilized for apps and devices from various manufacturers, due to this open ecosystem.
As per The Brainy Insights, the size of the remote asset management market was valued at USD 16.1 Billion in 2020 to USD 65.13 Billion by 2030.
Global remote asset management market is growing at a CAGR of 15% during the forecast period 2021-2030.
The global remote asset management market has been segmented based on component, asset type, deployment mode, organization size, vertical and regions. The solutions segment led the market in 2020.
North America region emerged as the largest market for the remote asset management.
The market's growth will be influenced by rising adoption of Internet of Things (IoT).
Traditional organizational culture could hamper the market growth.
Rising demand for connected devices will provide huge opportunities to the market.
Key players areAccruent, Ascent IntellimationPvt. Ltd., AT&T, Bosch.IO, Cisco Systems, Inc., EAMbrace, Hitachi Ltd., IBM Corporation, Infosys Limited, Meridium Inc., PTC, RapidValue Solutions, RCS Technologies, Roamworks, Rockwell Automation
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 Component
4.3.2. Market Attractiveness Analysis By Asset Type
4.3.3. Market Attractiveness Analysis By Deployment Mode
4.3.4. Market Attractiveness Analysis By Organization Size
4.3.5. Market Attractiveness Analysis By Vertical
4.3.6. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Rising adoption of Internet of Things (IoT)
5.3. Restraints
5.3.1. Traditional organizational culture
5.4. Opportunities
5.4.1. Rising demand for connected devices
5.5. Challenges
5.5.1. Data Security
6. Global Remote Asset Management Market Analysis and Forecast, By Component
6.1. Segment Overview
6.2. Services
6.3. Solutions
7. Global Remote Asset Management Market Analysis and Forecast, By Asset Type
7.1. Segment Overview
7.2. Fixed
7.3. Mobile
8. Global Remote Asset Management Market Analysis and Forecast, By Deployment Mode
8.1. Segment Overview
8.2. Cloud
8.3. On-Premises
9. Global Remote Asset Management Market Analysis and Forecast, By Organization Size
9.1. Segment Overview
9.2. Small and Medium-Sized Enterprises
9.3. Large Enterprises
10. Global Remote Asset Management Market Analysis and Forecast, By Vertical
10.1. Segment Overview
10.2. Manufacturing
10.3. Building Automation
10.4. Healthcare
10.5. Energy And Utilities
10.6. Retail
10.7. Metal and Mining
10.8. Transportation And Logistics
10.9. Others
11. Global Remote Asset Management MarketAnalysis and Forecast, By Regional Analysis
11.1. Segment Overview
11.2. North America
11.2.1. U.S.
11.2.2. Canada
11.2.3. Mexico
11.3. Europe
11.3.1. Germany
11.3.2. France
11.3.3. U.K.
11.3.4. Italy
11.3.5. Spain
11.4. Asia-Pacific
11.4.1. Japan
11.4.2. China
11.4.3. India
11.5. South America
11.5.1. Brazil
11.6. Middle East and Africa
11.6.1. UAE
11.6.2. South Africa
12. Global Remote Asset Management Market-Competitive Landscape
12.1. Overview
12.2. Market Share of Key Players in the Remote Asset Management Market
12.2.1. Global Company Market Share
12.2.2. North America Company Market Share
12.2.3. Europe Company Market Share
12.2.4. APAC Company Market Share
12.3. Competitive Situations and Trends
12.3.1. Product Launches and Developments
12.3.2. Partnerships, Collaborations, and Agreements
12.3.3. Mergers & Acquisitions
12.3.4. Expansions
13. Company Profiles
13.1. Accruent
13.1.1. Business Overview
13.1.2. Company Snapshot
13.1.3. Company Market Share Analysis
13.1.4. Company Component Portfolio
13.1.5. Recent Developments
13.1.6. SWOT Analysis
13.2. Ascent IntellimationPvt. Ltd.
13.2.1. Business Overview
13.2.2. Company Snapshot
13.2.3. Company Market Share Analysis
13.2.4. Company Component Portfolio
13.2.5. Recent Developments
13.2.6. SWOT Analysis
13.3. AT&T
13.3.1. Business Overview
13.3.2. Company Snapshot
13.3.3. Company Market Share Analysis
13.3.4. Company Component Portfolio
13.3.5. Recent Developments
13.3.6. SWOT Analysis
13.4. Bosch.IO
13.4.1. Business Overview
13.4.2. Company Snapshot
13.4.3. Company Market Share Analysis
13.4.4. Company Component Portfolio
13.4.5. Recent Developments
13.4.6. SWOT Analysis
13.5. Cisco Systems, Inc.
13.5.1. Business Overview
13.5.2. Company Snapshot
13.5.3. Company Market Share Analysis
13.5.4. Company Component Portfolio
13.5.5. Recent Developments
13.5.6. SWOT Analysis
13.6. EAMbrace
13.6.1. Business Overview
13.6.2. Company Snapshot
13.6.3. Company Market Share Analysis
13.6.4. Company Component Portfolio
13.6.5. Recent Developments
13.6.6. SWOT Analysis
13.7. Hitachi Ltd.
13.7.1. Business Overview
13.7.2. Company Snapshot
13.7.3. Company Market Share Analysis
13.7.4. Company Component Portfolio
13.7.5. Recent Developments
13.7.6. SWOT Analysis
13.8. IBM Corporation
13.8.1. Business Overview
13.8.2. Company Snapshot
13.8.3. Company Market Share Analysis
13.8.4. Company Component Portfolio
13.8.5. Recent Developments
13.8.6. SWOT Analysis
13.9. Infosys Limited
13.9.1. Business Overview
13.9.2. Company Snapshot
13.9.3. Company Market Share Analysis
13.9.4. Company Component Portfolio
13.9.5. Recent Developments
13.9.6. SWOT Analysis
13.10. Meridium Inc.
13.10.1. Business Overview
13.10.2. Company Snapshot
13.10.3. Company Market Share Analysis
13.10.4. Company Component Portfolio
13.10.5. Recent Developments
13.10.6. SWOT Analysis
13.11. PTC
13.11.1. Business Overview
13.11.2. Company Snapshot
13.11.3. Company Market Share Analysis
13.11.4. Company Component Portfolio
13.11.5. Recent Developments
13.11.6. SWOT Analysis
13.12. RapidValue Solutions
13.12.1. Business Overview
13.12.2. Company Snapshot
13.12.3. Company Market Share Analysis
13.12.4. Company Component Portfolio
13.12.5. Recent Developments
13.12.6. SWOT Analysis
13.13. RCS Technologies
13.13.1. Business Overview
13.13.2. Company Snapshot
13.13.3. Company Market Share Analysis
13.13.4. Company Component Portfolio
13.13.5. Recent Developments
13.13.6. SWOT Analysis
13.14. Roamworks
13.14.1. Business Overview
13.14.2. Company Snapshot
13.14.3. Company Market Share Analysis
13.14.4. Company Component Portfolio
13.14.5. Recent Developments
13.14.6. SWOT Analysis
13.15. Rockwell Automation, Inc.
13.15.1. Business Overview
13.15.2. Company Snapshot
13.15.3. Company Market Share Analysis
13.15.4. Company Component Portfolio
13.15.5. Recent Developments
13.15.6. SWOT Analysis
13.16. SAP
13.16.1. Business Overview
13.16.2. Company Snapshot
13.16.3. Company Market Share Analysis
13.16.4. Company Component Portfolio
13.16.5. Recent Developments
13.16.6. SWOT Analysis
13.17. Schneider Electric
13.17.1. Business Overview
13.17.2. Company Snapshot
13.17.3. Company Market Share Analysis
13.17.4. Company Component Portfolio
13.17.5. Recent Developments
13.17.6. SWOT Analysis
13.18. Siemens AG
13.18.1. Business Overview
13.18.2. Company Snapshot
13.18.3. Company Market Share Analysis
13.18.4. Company Component Portfolio
13.18.5. Recent Developments
13.18.6. SWOT Analysis
13.19. Verizon
13.19.1. Business Overview
13.19.2. Company Snapshot
13.19.3. Company Market Share Analysis
13.19.4. Company Component Portfolio
13.19.5. Recent Developments
13.19.6. SWOT Analysis
13.20. Vodafone Group
13.20.1. Business Overview
13.20.2. Company Snapshot
13.20.3. Company Market Share Analysis
13.20.4. Company Component Portfolio
13.20.5. Recent Developments
13.20.6. SWOT Analysis
List of Table
1. Global Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
2. Global Services Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
3. Global Solutions Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
4. Global Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
5. Global Fixed Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
6. Global Mobile Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
7. Global Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
8. Global Cloud Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
9. Global On-Premises Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
10. Global Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
11. Global Small and Medium-Sized EnterprisesRemote Asset Management Market, By Region, 2018-2030 (USD Billion)
12. Global Large Enterprises Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
13. Global Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
14. Global Manufacturing Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
15. Global Building Automation Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
16. Global Building Automation Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
17. Global Healthcare Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
18. Global Energy And Utilities Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
19. Global Retail Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
20. Global Metal and Mining Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
21. Global Transportation and Logistics Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
22. Global Others Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
23. Global Remote Asset Management Market, By Region, 2018-2030 (USD Billion)
24. North America Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
25. North America Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
26. North America Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
27. North America Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
28. North America Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
29. U.S. Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
30. U.S. Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
31. U.S. Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
32. U.S. Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
33. U.S. Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
34. Canada Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
35. Canada Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
36. Canada Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
37. Canada Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
38. Canada Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
39. Mexico Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
40. Mexico Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
41. Mexico Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
42. Mexico Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
43. Mexico Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
44. Europe Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
45. Europe Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
46. Europe Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
47. Europe Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
48. Europe Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
49. Germany Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
50. Germany Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
51. Germany Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
52. Germany Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
53. Germany Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
54. France Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
55. France Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
56. France Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
57. France Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
58. France Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
59. U.K. Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
60. U.K. Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
61. U.K. Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
62. U.K. Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
63. U.K. Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
64. Italy Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
65. Italy Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
66. Italy Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
67. Italy Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
68. Italy Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
69. Spain Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
70. Spain Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
71. Spain Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
72. Spain Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
73. Spain Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
74. Asia Pacific Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
75. Asia Pacific Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
76. Asia Pacific Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
77. Asia Pacific Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
78. Asia Pacific Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
79. Japan Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
80. Japan Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
81. Japan Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
82. Japan Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
83. Japan Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
84. China Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
85. China Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
86. China Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
87. China Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
88. China Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
89. India Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
90. India Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
91. India Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
92. India Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
93. India Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
94. South America Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
95. South America Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
96. South America Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
97. South America Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
98. South America Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
99. Brazil Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
100. Brazil Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
101. Brazil Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
102. Brazil Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
103. Brazil Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
104. Middle East and Africa Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
105. Middle East and Africa Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
106. Middle East and Africa Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
107. Middle East and Africa Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
108. Middle East and Africa Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
109. UAE Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
110. UAE Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
111. UAE Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
112. UAE Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
113. UAE Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
114. South Africa Remote Asset Management Market, By Component, 2018-2030 (USD Billion)
115. South Africa Remote Asset Management Market, By Asset Type, 2018-2030 (USD Billion)
116. South Africa Remote Asset Management Market, By Deployment Mode, 2018-2030 (USD Billion)
117. South Africa Remote Asset Management Market, By Organization Size, 2018-2030 (USD Billion)
118. South Africa Remote Asset Management Market, By Vertical, 2018-2030 (USD Billion)
List of Figures
1. Global Remote Asset Management Market Segmentation
2. Remote Asset Management 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 Remote Asset Management Market Attractiveness Analysis By Component
9. Global Remote Asset Management Market Attractiveness Analysis By Asset Type
10. Global Remote Asset Management Market Attractiveness Analysis By Deployment Mode
11. Global Remote Asset Management Market Attractiveness Analysis By Organization Size
12. Global Remote Asset Management Market Attractiveness Analysis ByVertical
13. Global Remote Asset Management Market Attractiveness Analysis By Region
14. Global Remote Asset Management Market: Dynamics
15. Global Remote Asset Management Market Share by Component (2020 & 2030)
16. Global Remote Asset Management Market Share by Asset Type (2020 & 2030)
17. Global Remote Asset Management Market Share by Deployment Mode (2020 & 2030)
18. Global Remote Asset Management Market Share by Organization Size (2020 & 2030)
19. Global Remote Asset Management Market Share by Vertical (2020 & 2030)
20. Global Remote Asset Management Market Share by Regions (2020 & 2030)
21. Global Remote Asset Management Market Share by Company (2020)
This study forecasts revenue at global, regional, and country levels from 2018 to 2030. The Brainy Insights has segmented the global Remote Asset Managementmarket based on below mentioned segments:
Global Remote Asset Management Market by Component:
Global Remote Asset Management Market by Asset Type:
Global Remote Asset Management Market by Deployment Mode:
Global Remote Asset Management Market by Organization Size:
Global Remote Asset Management Market by Vertical:
Global Remote Asset Management Market by Region:
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:
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:
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:
The demand side for the market is estimated through:
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:
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:
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:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
Free Customization
Fortune 500 Clients
Free Yearly Update On Purchase Of Multi/Corporate License
Companies Served Till Date