Telematics Solutions Market

Telematics Solutions Market Size by Application (Fleet/Asset Management, Infotainment System, Navigation & Location-based system, Safety & Security, Insurance Telematics, V2X, and Others), Vehicle Type (Passenger Vehicle, Heavy Commercial Vehicle, and Light Commercial Vehicle), By Form Type (Tethered, Embedded and Integrated), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12784
  • Published Date: May, 2022
  • Pages: 238
  • Category: Automotive & Transportation
  • Format: PDF
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The global telematics solutions market is expected to reach USD 142.93 billion by 2030, at a CAGR of 16.3% from 2022 to 2030. The demand for the telematics solutions market has grown fast in recent years, and it is expected to grow much more throughout the forecast period. The global market for telematics solutions market is being driven by the government's increased attempts to expand a transport network, advancements in 5G connectivity, rising demand for features and capabilities in cars, automated driving innovations, as well as commuter security features.

Market Overview:

Telematics is a means of tracking a vehicle's position and movement using a mix of GPS and onboard monitoring devices. The GPS and diagnostics systems can be used to record the traffic density and internal behavior. Automobile health insurers, fleet management businesses, and others use telematics devices to track the position and behavior of vehicles. A Fleet Telematics System (FTS) allows data to be communicated between a commercial truck fleet and a centralized system, allowing them to keep track of vehicle symptoms and position. Distance, velocity, severe acceleration, fuel consumption, vehicle issues, and other information may be gathered via telematics. When evaluated for specific events and trends, this data can give detailed insights across a whole fleet.

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Market Dynamics:

Drivers:
  • Advancements in digital technology

The developing innovation in digital technology has the potential to drive the expansion of the telematics solution market. The market for telematics solutions has enabled interaction between humans and robots, and it is likely to expand more throughout the forecasted period. One of the fastest technologies is machine learning, which is the driving force behind automation, transportation, construction, and industrial uses.

Restraints:
  • High maintenance cost and initial cost

Telematics solutions with numerous prospects in the worldwide market are equally fraught with several challenges and constraints. The most significant limitation is the expensive initial and ongoing costs of telematics market solutions. Telematics solutions are vulnerable to cyber-attacks since they are reliant on technology. As a result, firms should implement appropriate cybersecurity safeguards.

  • The possibility of data hacking

Car safety may be jeopardized by hackers. Breaches of security may result in the leaking of sensitive information, dangers to an automobile's essential health and safety systems, and complete remote control of the vehicle. Data theft entails security issues such as personal security breaches, car theft, connectivity dangers, and other hazards. This aspect is expected to limit the growth of the global telematics solutions market.

Opportunities:
  • Increase in its logistics and transport sector

Telematics solutions are expanding and spanning all the larger domains such as infrastructure, automobiles, roads, healthcare, and much more. The telematics industry is booming. It is also expanding its logistics and transportation sectors in response to the anticipated increase in demand.

  • The rise of electric cars and automated vehicle technologies

With the introduction of electric vehicles and automated vehicle technologies, the global telematics solutions market is undergoing a significant transformation that includes the development of new areas such as Mobility-as-a-Service Providers (MaaS) and Advanced Driver Assistance Systems (ADAS). In the anticipated term, the emergence of new IoT-based industries and digital amenities such as coaster and car-sharing is expected to function as a potential for the global telematics solutions market.

Challenges:
  • Increasing standards of telematics solutions

The telematics solutions industry has paved the way for a new era in the world of driving. Due to the sheer rising standards of telematics solutions, firms are investing heavily in technology and research to create new products and enhance existing ones so that they may produce high-quality, low-cost goods and boost their profitability.

Segmentation Analysis:

The global telematics solutions market has been segmented based on application, vehicle type, form type, and regions.

  • The application segment is divided into fleet/asset management, infotainment system, navigation & location-based system, safety & security, insurance telematics, V2X, and others. In 2021, the fleet management segment dominated the market with a market share of 16.32%. As a result of lower corporate operating costs and improved fuel efficiency, fleet management software aids in the fluent operation of a business by creating a plan for more efficient routes, lowering extra fuel consumption, and eliminating unsafe driving practices by understanding the causes. Users may utilize fleet management systems to find business cars on demand, collect and record engine diagnostic data, and identify unsafe driving patterns, including speeding, forceful braking, and idling. This data is crucial to organizations since it enables them to reduce expenses throughout their operations.
  • The form type segment is divided into tethered, embedded, and integrated. The embedded form type segment dominated the market with a market share of 38.02% in 2021. Various disruptive causes such as government regulations, cost management of service contracts, and the expansion of cloud-based services are credited to the emergence of embedded telematics systems. Many telematics services, such as eCall and remote diagnostics, cannot be adequately utilized without an embedded connectivity solution in the automobile, which is driving the popularity of embedded connectivity. The primary driver of the rise of embedded connectivity is government restrictions.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region emerged as the largest market for the global telematics solutions market, with a 38.5% share of the market revenue in 2021.

  • The Asia Pacific market growth is primarily driven by impending government telematics guidelines and restrictions, an increase in fleet management, and an increase in concern about protection and wellbeing. These are the essential factors that contribute immensely to the economic growth of the China, India, and Southeast Asia automotive telematics solutions market. Furthermore, a rise in the trend of connection solutions is likely to propel the APAC telematics solutions market forward. Moreover, vehicle diagnostics enabled by telematics systems are likely to drive the Asia Pacific telematics solutions market throughout the forecasted period.

Asia Pacific Region Telematics Solutions Market Share in 2021 - 38.5%

 

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Competitive Analysis:

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 telematics solutions industry.

Zurich Insurance Company Ltd. and Driveway Software have announced the launch of a cellphone telematics platform to fuel new mobility solutions. Zurich's driver analyses data obtained from smartphone sensors using Driveway's telematics technology. The software monitors and scores drivers based on excessive speeding, hard braking, acceleration, and turning. It also analyses driver phone concentration and delivers input on the phone while driving, promoting distraction-free cruising.

Geotab announced Geotab Integrated Solution for General Motors in January 2020. The service debuted at Geotab Connect 2020, and it assists fleet managers in accessing compatible vehicle information inside the MyGeotab platform through a factory-fit, GM-engineered OnStar module.

MiX Telematics, a worldwide fleet, and mobile asset management system, has announced that Post Office, a leading U.K. retailer, has extended its contract with the company. Over 170 different goods and services are available from the organization, including post offices, banking sectors, internet and landline phone, brutal exchange, and medical insurance.

List of Key Market Players:

  • LG Corp.
  • Verizon Communications Inc.
  • Robert Bosch GmbH
  • TomTom N.V.
  • Visteon Corp.
  • Continental AG
  • KKR & Co. Inc.
  • Nexteer Automotive
  • Qualcomm
  • Harman International Industries Inc.

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm

Report Description:

  • Global Telematics Solutions Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered as the base year of the report. 2019 and 2020 are regarded as the historical years, and 2022 to 2030 are the forecast years. The global telematics solutions market is based on revenue (USD Billion). The report incorporates the market study based on income. The study covers the market share revenue/market share/volume for each of the segments, regions, and countries catering to the global telematics solutions market. The areas analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the parts are further analyzed at the country level.
  • The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of the telematics solutions market based on application, vehicle type, form type, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by crucial organizations catering to the global telematics solutions market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global telematics solutions market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and critical financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of porter's five forces analysis coupled with SWOT analysis to offer business-related data and pieces of information. Porter's five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development, which influences the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market-related driving factors, growth limitations (restraints), potential industry opportunities, significant trends, and development which act as a critical potential for the investors.
  • Potential growth prospects, along with the penetration rate analysis of the product (market-related, i.e., global telematics solutions market), are covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the telematics solution market was valued at USD 36.72 billion in 2021 to USD 142.93 billion by 2030.

Global telematics solution market is growing at a CAGR of 16.3% during the forecast period 2022-2030.

The global telematics solution market has been segmented based on application, vehicle type, form type and regions. The fleet management dominated the market in 2021. The passenger vehicle accounted for the largest share of the market in 2021.

Asia Pacific region emerged as the largest market for the telematics solution.

The market's growth will be influenced by advancement in digital technology.

High maintenance cost and initial cost and the possibility of data hacking could hamper the market growth.

Increase in its logistics and transport sector and the rise of electric cars and automated vehicle technologies will provide huge opportunities to the market.

Key players are LG Corp., Verizon Communications Inc., Robert Bosch GmbH, TomTom N.V., Visteon Corp., Continental AG, KKR & Co. Inc., Nexteer Automotive, Qualcomm, Harman International Industries Inc.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Application
          4.3.2. Market Attractiveness Analysis By Vehicle Type
          4.3.3. Market Attractiveness Analysis By Form Type
          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. Advancement in digital technology
    5.3. Restraints
          5.3.1. High maintenance cost and initial cost
          5.3.2. The possibility of data hacking is expected to limit the global Telematics Solutions market's growth.
    5.4. Opportunities
          5.4.1. Increase in its logistics and transport sector
          5.4.2. The rise of electric cars and automated vehicle technologies
    5.5. Challenges
          5.5.1. Increasing standards of Telematics Solutions.

6. Global Telematics Solution Market Analysis and Forecast, By Application
    6.1. Segment Overview
    6.2. Fleet/asset management
    6.3. Infotainment System
    6.4. Navigation & Location-based system
    6.5. Safety & Security
    6.6. Insurance Telematics
    6.7. V2X
    6.8. Others

7. Global Telematics Solution Market Analysis and Forecast, By Vehicle Type
    7.1. Segment Overview
    7.2. Passenger Vehicle
    7.3. Heavy Commercial Vehicle
    7.4. Light Commercial Vehicle

8. Global Telematics Solution Market Analysis and Forecast, By Form Type
    8.1. Segment Overview
    8.2. Tethered
    8.3. Embedded
    8.4. Integrated

9. Global Telematics Solution 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 Telematics Solution Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Telematics Solution 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. LG Corp
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Verizon Communications Inc.
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Robert Bosch GmbH
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. TomTom N.V.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Visteon Corp.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Continental AG
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. KKR & Co. Inc.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Nexteer Automotive
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Component Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Qualcomm
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Component Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Harman International Industries Inc.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Component Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
 

List of Table

1. Global Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

2. Global Fleet/asset management Telematics Solution Market, By Region, 2019-2030 (USD Billion) 

3. Global Infotainment System Telematics Solution Market, By Region, 2019-2030 (USD Billion) 

4. Global Navigation & Location-based system Telematics Solution Market, By Region, 2019-2030 (USD Billion) 

5. Global Safety & Security Telematics Solution Market, By Region, 2019-2030 (USD Billion)

6. Global Insurance Telematics Solution Market, By Region, 2019-2030 (USD Billion)

7. Global V2X solution Market, By Region, 2019-2030 (USD Billion)

8. Global Others solution Market, By Region, 2019-2030 (USD Billion)

9. Global Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

10. Global Passenger Vehicle Telematics Solution Market, By Region, 2019-2030 (USD Billion) 

11. Global Heavy Commercial Vehicle Telematics Solution Market, By Region, 2019-2030 (USD Billion) 

12. Global Light Commercial Vehicle Telematics Solution Market, By Region, 2019-2030 (USD Billion) 

13. Global Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

14. Global Tethered Telematics Solution Market, By Region, 2019-2030 (USD Billion) 

15. Global Embedded Telematics Solution Market, By Region, 2019-2030 (USD Billion) 

16. Global Integrated Telematics Solution Market, By Region, 2019-2030 (USD Billion) 

17. Global Telematics Solution Market, By Region, 2019-2030 (USD Billion) 

18. North America Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

19. North America Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

20. North America Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

21. U.S. Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

22. U.S. Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

23. U.S. Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

24. Canada Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

25. Canada Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

26. Canada Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

27. Mexico Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

28. Mexico Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

29. Mexico Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

30. Europe Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

31. Europe Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

32. Europe Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

33. Germany Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

34. Germany Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

35. Germany Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

36. France Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

37. France Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

38. France Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

39. U.K. Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

40. U.K. Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

41. U.K. Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

42. Italy Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

43. Italy Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

44. Italy Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

45. Spain Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

46. Spain Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

47. Spain Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

48. Asia Pacific Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

49. Asia Pacific Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

50. Asia Pacific Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

51. Japan Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

52. Japan Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

53. Japan Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

54. China Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

55. China Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

56. China Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

57. India Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

58. India Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

59. India Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

60. South America Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

61. South America Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

62. South America Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

63. Brazil Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

64. Brazil Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

65. Brazil Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

66. Middle East and Africa Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

67. Middle East and Africa Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

68. Middle East and Africa Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

69. UAE Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

70. UAE Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

71. UAE Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

72. South Africa Telematics Solution Market, By Application, 2019-2030 (USD Billion) 

73. South Africa Telematics Solution Market, By Vehicle Type, 2019-2030 (USD Billion) 

74. South Africa Telematics Solution Market, By Form Type, 2019-2030 (USD Billion) 

List of Figures 

1. Global Telematics Solution Market Segmentation

2. Telematics Solution 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 Telematics Solution Market Attractiveness Analysis By Application

9. Global Telematics Solution Market Attractiveness Analysis By Vehicle Type

10. Global Telematics Solution Market Attractiveness Analysis By Form Type

11. Global Telematics Solution Market Attractiveness Analysis By Region

12. Global Telematics Solution Market: Dynamics

13. Global Telematics Solution Market Share By Application (2022 & 2030)

14. Global Telematics Solution Market Share By Vehicle Type (2022 & 2030)

15. Global Telematics Solution Market Share By Form Type (2022 & 2030)

16. Global Telematics Solution Market Share by Regions (2022 & 2030)

17. Global Telematics Solution Market Share by Company (2021)

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

Global Telematics Solution Market by Application:

  • Fleet/Asset Management
  • Infotainment System
  • Navigation & Location-based system
  • Safety & Security
  • Insurance Telematics
  • V2X
  • Others

Global Telematics Solution Market by Vehicle Type:

  • Passenger Vehicle
  • Heavy Commercial Vehicle
  • Light Commercial Vehicle

Global Telematics Solution Market by Form Type:

  • Tethered
  • Embedded
  • Integrated

Global Telematics Solution Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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