Search and Rescue (SAR) Equipment Market

Search and Rescue (SAR) Equipment Market Size by Platform (Ground-Based, Marine, and Airborn), Equipment (Search Equipment, Rescue Equipment, Planning Equipment, Communication Equipment, Logistics Equipment, and Technical Equipment), Application (Urban SAR Industrial, and Combat SAR), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2020-21
  • Report ID: TBI-13438
  • Published Date: Apr, 2023
  • Pages: 236
  • Category: Automotive & Transportation
  • Format: PDF
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The global search and rescue (SAR) equipment market was valued at USD 2.14 billion in 2022 and growing at a CAGR of 3.89% from 2023 to 2032. The market is expected to reach USD 3.13 billion by 2032. The growth of search and rescue (SAR) equipment is increasing terrorism and insurgency. Governments' rapid modernization & upgradation of search and rescue equipment are expected to propel the market growth.

Market Introduction:

 Search and Rescue (SAR) equipment refers to the type which is utilized for searching & rescuing people who are in imminent or distress danger. Heavy-duty torchlights, SAR vests, life detector machines, stretchers, first aid kits, harnesses, radios, rescue helicopters, search drone and ambulances, among others, are some of the SAR tools. Search equipment is utilized to search and rescue victims of natural disasters & other emergencies to locate trapped victims. Search & rescue equipment contains search cameras, life detectors, and listening widgets that help rescue teams to locate buried victims. The search and rescue equipment has significantly been offering modern, simplified, efficient and reliable support during search and rescue operations.

Search and Rescue (SAR) Equipment Market Size

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Recent Development

For example, in January 2022, ACR Company, a United States-based satellite-based tracking data communications innovator, acquired TRX Systems for an unrevealed amount. This acquisition allows dismounted warfighters to successfully conduct operations when operating in a GPS-degraded, challenged, or denied environment.  

For example, in June 2022, Holmatro launched Cordless Mini Cutter. This first battery-powered, lightweight, and compact device is easy to utilize in tight spaces & takes up little space in the emergency vehicle. Its innovative design gives maximum freedom of movement & optimal cutting performance.

Market Dynamics:

Drivers

The rise in the focus on human safety: The rise in the focus on human safety is a driving factor of market growth. The advanced technology integrated with military search and rescue helicopters differs from that integrated with regular search and rescue helicopters, as military SAR operations drive market growth. Additionally, the substitution of old helicopter elements & systems and capacity development programs for search and rescue helicopters worldwide are expected to propel the market growth over the forecast period. However, the development of tilt helicopters and the next-generation technology compound in military search & rescue helicopters are stimulating market growth.

Restraints:

The lack of skilled workforce: The lack of a skilled workforce and the burden on the government budget hinder the market growth. Most working search & rescue equipment runs on batteries with minimal battery life and operating range. Thus, these robots are not suitable for remote use. Battery technology presently available for drones can fly for less than an hour, and some drones can even last 10-20 minutes. Therefore, the limited instruments' robustness is anticipated to obstruct the growth of the global search and rescue robot market during the projection period.

Opportunities:

Technological advancements: Technological advancements are the opportunity factor for market growth. Moreover, the search and rescue helicopter manufacturers are attempting to set up manufacturing plants in APAC nations as they offer favourable methods for foreign manufacturers to help get foreign investment, which is expected to propel the market growth. However, the increasing outdoor recreational activities like camping, hiking, and water sports are helping to boost the market growth.

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 market for the global search and rescue (SAR) equipment market, with a 43.18% share of the market revenue in 2022. North America dominates the search and rescue (SAR) equipment market due to the growing government support & funding to upgrade and provide new & advanced equipment to SAR teams, particularly in developed nations such as Canada and U.S. Moreover, the rise in expenditure on defence and space research is also helping to drive market growth. The Asia-Pacific region will account for the largest market share with revenue growth due to the presence of prominent search & rescue agencies. Moreover, the use of helicopters for search and rescue operations for providing vital products & services during natural disasters like floods & earthquakes in developing countries is also helping to boost the market growth. Further, the use of helicopters for search and rescue operations for providing vital services & products during natural disasters, like floods & earthquakes, in developing countries is expected to drive market growth.

North America Region Search and Rescue (SAR) Equipment Market Share in 2022 - 43.18%

 

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Platform Segment Analysis

The platform segment is divided into ground-based, marine, and airborn. The ground-based segment dominated the market, with a share of around 41.17% in 2022. This growth is attributed to its limited range of scanning areas. 

Equipment Segment Analysis

The equipment segment is divided into search equipment, rescue equipment, planning equipment, communication equipment, logistics equipment, and technical equipment. The search equipment segment dominated the market, with a market share of around 23.14% in 2022. This growth is attributed to the increasing demand for search equipment, which is derived from the tools needed in SAR operations.

Application Segment Analysis

The application segment is divided into urban SAR industrial, and combat SAR. The urban SAR industrial segment dominated the market, with a market share of around 56.16% in 2022. This growth is attributed to increased search and rescue equipment usage for urban SAR operations. Moreover, SAR tools are used for different urban rescue operations. For illustration, in the case of fire rescue operations, rescue crews can discover buried people with the help of listening devices, search cameras, and life detectors.

Some of the Key Market Players:
  • Leonardo S.P.A.
  • Textron Systems
  • General Dynamics Corporation
  • Garmin LTD.
  • ACR Electronics, Inc
  • Thales Group
  • Honeywell International Inc
  • Cubic Corporation
  • Elbit Systems Ltd   

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 2.14 Billion
Market size value in 2032 USD 3.13 Billion
CAGR (2023 to 2032) 3.89%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments 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 platform, equipment, application

Frequesntly Asked Questions

North America region emerged as the largest market for search and rescue (SAR) equipment.

The market's growth will be influenced by the rise in the focus on human safety.

The lack of a skilled workforce could hamper the market growth.

The technological advancements will provide huge opportunities to the market.

Key players Leonardo S.P.A., Textron Systems, General Dynamics Corporation, Garmin LTD., ACR Electronics, Inc., Thales Group, Honeywell International Inc., Cubic Corporation, Elbit Systems Ltd, and among others.

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 Platform
          4.3.2. Market Attractiveness Analysis By Equipment
          4.3.3. Market Attractiveness Analysis By Application
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The rise in the focus on human safety
          5.2.2. The increasing funding for military & defence
    5.3. Restraints
          5.3.1. The lack of skilled workforce
          5.3.2. The limited government spending on search & rescue services
    5.4. Opportunities
          5.4.1. The technological advancements
          5.4.2. The rapid modernization and upgradation of search and rescue equipment by governments

6. Global Search and Rescue (SAR) Equipment Market Analysis and Forecast, By Platform
    6.1. Segment Overview
    6.2. Ground-Based
    6.3. Marine
    6.4. Airborn

7. Global Search and Rescue (SAR) Equipment Market Analysis and Forecast, By Equipment
    7.1. Segment Overview
    7.2. Search Equipment
    7.3. Rescue Equipment
    7.4. Planning Equipment
    7.5. Communication Equipment
    7.6. Logistics Equipment
    7.7. Technical Equipment

8. Global Search and Rescue (SAR) Equipment Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Urban SAR Industrial
    8.3. Combat SAR

9. Global Search and Rescue (SAR) Equipment 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 Search and Rescue (SAR) Equipment Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Search and Rescue (SAR) Equipment 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. Leonardo S.P.A.
          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. Textron Systems
          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. General Dynamics Corporation
          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. Garmin LTD.
          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. ACR Electronics, Inc.
          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. Thales Group
          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. Honeywell International Inc.
          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. Cubic Corporation
          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. Elbit Systems Ltd
          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
 

List of Table

1. Global Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

2. Global Ground-Based, Search and Rescue (SAR) Equipment Market, By Region, 2019-2032 (USD Billion) 

3. Global Marine, Search and Rescue (SAR) Equipment Market, By Region, 2019-2032 (USD Billion) 

4. Global Airborn, Search and Rescue (SAR) Equipment Market, By Region, 2019-2032 (USD Billion) 

5. Global Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

6. Global Search Equipment, Search and Rescue (SAR) Equipment Market, By Region, 2019-2032 (USD Billion)

7. Global Rescue Equipment, Search and Rescue (SAR) Equipment Market, By Region, 2019-2032 (USD Billion)

8. Global Planning Equipment, Search and Rescue (SAR) Equipment Market, By Region, 2019-2032 (USD Billion)

9. Global Communication Equipment, Search and Rescue (SAR) Equipment Market, By Region, 2019-2032 (USD Billion)

10. Global Logistics Equipment, Search and Rescue (SAR) Equipment Market, By Region, 2019-2032 (USD Billion)

11. Global Technical Equipment, Search and Rescue (SAR) Equipment Market, By Region, 2019-2032 (USD Billion)

12. Global Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

13. Global Urban SAR Industrial, Search and Rescue (SAR) Equipment Market, By Region, 2019-2032 (USD Billion)

14. Global Combat SAR, Search and Rescue (SAR) Equipment Market, By Region, 2019-2032 (USD Billion)

15. North America Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

16. North America Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

17. North America Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

18. U.S. Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

19. U.S. Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

20. U.S. Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

21. Canada Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

22. Canada Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

23. Canada Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

24. Mexico Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

25. Mexico Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

26. Mexico Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

27. Europe Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

28. Europe Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

29. Europe Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

30. Germany Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

31. Germany Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

32. Germany Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

33. France Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

34. France Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

35. France Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

36. U.K. Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

37. U.K. Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

38. U.K. Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

39. Italy Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

40. Italy Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

41. Italy Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

42. Spain Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

43. Spain Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

44. Spain Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

45. Asia Pacific Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

46. Asia Pacific Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

47. Asia Pacific Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

48. Japan Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

49. Japan Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

50. Japan Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

51. China Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

52. China Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

53. China Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

54. India Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

55. India Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

56. India Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

57. South America Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

58. South America Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

59. South America Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

60. Brazil Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

61. Brazil Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

62. Brazil Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

63. Middle East and Africa Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

64. Middle East and Africa Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

65. Middle East and Africa Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

66. UAE Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

67. UAE Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

68. UAE Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

69. South Africa Search and Rescue (SAR) Equipment Market, By Platform, 2019-2032 (USD Billion)

70. South Africa Search and Rescue (SAR) Equipment Market, By Equipment, 2019-2032 (USD Billion)

71. South Africa Search and Rescue (SAR) Equipment Market, By Application, 2019-2032 (USD Billion)

List of Figures 

1. Global Search and Rescue (SAR) Equipment Market Segmentation

2. Global Search and Rescue (SAR) Equipment Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top- Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Search and Rescue (SAR) Equipment Market Attractiveness Analysis By Platform

9. Global Search and Rescue (SAR) Equipment Market Attractiveness Analysis By Equipment 

10. Global Search and Rescue (SAR) Equipment Market Attractiveness Analysis By Application

11. Global Search and Rescue (SAR) Equipment Market Attractiveness Analysis By Region

12. Global Search and Rescue (SAR) Equipment Market: Dynamics

13. Global Search and Rescue (SAR) Equipment Market Share By Platform (2023 & 2032)

14. Global Search and Rescue (SAR) Equipment Market Share By Equipment (2023 & 2032)

15. Global Search and Rescue (SAR) Equipment Market Share By Application (2023 & 2032)

16. Global Search and Rescue (SAR) Equipment Market Share By Regions (2023 & 2032)

17. Global Search and Rescue (SAR) Equipment Market Share By Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global search and rescue (SAR) equipment based on below mentioned segments:

Global Search and Rescue (SAR) Equipment Market by Platform:

  • Ground-Based
  • Marine
  • Airborn

Global Search and Rescue (SAR) Equipment Market by Equipment:

  • Search Equipment
  • Rescue Equipment
  • Planning Equipment
  • Communication Equipment
  • Logistics Equipment
  • Technical Equipment

Global Search and Rescue (SAR) Equipment Market by Application:

  • Urban SAR Industrial
  • Combat SAR

Global Search and Rescue (SAR) Equipment 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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