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Urban Planning Software and Services Market

Urban Planning Software and Services Market Size by Deployment (Web-based, Cloud-based), Component (Service, Software), End User (Real Estate and Infrastructure Companies, Government), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-12620
  • Published Date: Nov, 2021
  • Pages: 236
  • Category: Information Technology & Semiconductors
  • Format: PDF
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Global Urban Planning Software and Services market is expected to reach USD 244.13 Billion by 2032, at a CAGR of 4% from 2023 to 2032. The demand for urban planning software and services is being fueled by factors such as increased investment in computers and software, as well as an increase in spending on non-residential construction projects. The demand for urban management solutions and services is increasing as the world's urban population grows. For example, the United Nations (UN) estimates that roughly 68 percent of the world's population would live in urban areas by 2050.

Market Overview:

The process of developing and designing urban areas is known as urban planning. The usage of open land, air, water, and the built environment, which includes buildings, transportation, economic, and social functions, are all included in this process. Urban planning includes goal setting, data collecting and analysis, forecasting, design, strategic thinking, and public consultation for both the development of open land ("greenfield sites") and the revitalization of existing parts of the city.  To plan urban layouts and create 3D models of urban environments, urban planning and design software is used. To visualize how their urban designs might seem in the actual world, city planners and architects use urban planning and design software. Urban designers can improve their urban planning proposals and design urban layouts that follow city zoning restrictions by creating 3D visualizations. Architects, city planners, and any creative department involved in designing the layout of an urban environment frequently employ urban planning and design software.

Urban Planning Software and Services Market Size

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Market Dynamics:

Drivers
  • Several advantages

Geographic information science and technology (GIST) has spawned advancements across the global urban planning software and services sector due to its numerous benefits. The benefits of this technology have been realized by urban planners in both the private and public sectors. GIS technology is used in the review of plans in urban areas to help government agencies comply with regulatory standards. 

  • Market Growth using a Centralized Decision-Making Model

Companies in the urban planning software and services market are focusing on creating smart city ecosystems and offering quality-of-life benefits. However, numerous cities, particularly those in developing countries, are prone to austerity, and efficiency concerns are anticipated to restrict the expansion of the urban planning software and services market. As a result, enterprises across the market landscape are developing smart city ecosystems to address urgent urban problems and improve quality of life. This is clear because the market for urban planning software and services in Asia Pacific, the Middle East, Africa, and South America is expected to develop at an exponential rate over the forecast period.

Restraints:
  • Open-source software is becoming more widely available

The market's growth is likely to be hampered by the increasing availability of open-source software and budgetary imbalances in governments. The market's growth is also likely to be hampered by a reluctance to move away from the traditional business models and a lack of institutional planning capability in various nations.

Opportunities:
  • Investments by several governments

Several market players have partnered with startups to take advantage of the benefits that these software and services provide. One of the primary factors enabling the market's expansion is the increase in the volume of investments made by various governments and other organisations in the development of smart cities, which include solutions such as intelligent traffic management, electronic service delivery, and public information and services, as well as home energy automation, apartment sharing applications, and smart parking solutions. The global urban planning software and services industry is likely to see substantial growth.

Challenges:
  • COVID-19 pandemic

The COVID-19 pandemic, which resulted in lockdowns in various nations, caused widespread disruptions in a variety of industries. Major infrastructure development activities were temporarily halted because of the lockdown restrictions, which hampered the urban planning software and service industry.

Segmentation Analysis:

The global urban planning software and services market has been segmented based on deployment, component, end-user, and regions.

  • The deployment segment is divided into web-based and cloud-based. The cloud segment led the market with a market share of 63.20% in 2022. This is due to a rise in the awareness and popularity of cloud-based software deployments among organizations.
  • The component segment includes service and software. The service segment is anticipated to grow at the fastest CAGR of 5.87% over the forecast period. Due to its vast population and massive government infrastructure spending, China is rapidly expanding in the services market. Several Chinese firms are among the leading players in the market for urban planning services. During the forecast period, the market for urban planning services is expected to grow due to the increasing acceptance of smart cities and the development of intelligent transportation systems in numerous cities around the world.
  • The end-user segment includes real estate and infrastructure companies, government. The government segment led the market with a market share of 65.34% in 2022. This is due to government bodies' increased investment in smart city technology, projects, and other technological infrastructure for the benefit of society. For example, China announced a "new infrastructure initiative" in December 2018 to surpass the United States and become the world's technology leader. The country increased its investment in smart city technology, data centres, 5G, and other smart city areas as part of this initiative.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia Pacific region emerged as the largest market for the global urban planning software and services market with a 36.28% share of the market revenue in 2022.

  • Because of the drastic revolution in the way cities are planned and designed, the Asia Pacific market is expected to grow fast over the forecast years. Across Asia Pacific, large-scale urban planning has shaped environmentally friendly urban landscapes that are both smart and sustainable. The rise of various smart city initiatives in nations like India, Singapore, and China has resulted in an increase in demand for advanced buildings and state-of-the-art infrastructure. The rising focus on engineering, interiors, planning, and architecture while also addressing environmental concerns has improved the market outlook for urban planning software and services in this region.

Asia Pacific Region Urban Planning Software and Services Market Share in 2022 - 36.28%

 

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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 urban planning software and services industry.

In November 2020, Autodesk announced a contract to acquire Spacemaker, a cloud-based AI software provider based in Norway. With this acquisition, Autodesk aims to provide architects with AI-powered design capabilities to help them make better urban design decisions.

List of Key Market Players:
  • AECOM
  • Autodesk Inc.
  • Act-3D
  • Holistic City Limited
  • UrbanFootprint
  • BENTLEY SYSTEMS, INCORPORATED
  • Boston Consulting Group
  • Ramboll Group A/S
  • SIMWALK
  • UrbanSim Inc.
Key Target Audience
  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm

Report Description:

  • Global Urban Planning Software and Services Market, Industry Analysis, Trends, Analysis and Forecast, 2023 to 2032 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2022 is considered as the base year of the report. 2019, 2020 and 2021 are considered as the historic years and 2023 to 2032 are the forecast years. The global urban planning software and services market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global urban planning software and services market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with 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 Urban Planning Software and Services based on deployment, component, end-users, 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 key organizations catering to global urban planning software and services 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 urban planning software and services 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 key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis to provide business related data and information’s. 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 growth and development in order 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 key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related i.e., global urban planning software and services market) is covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the urban planning software and services market was valued at from 158.71 Billion in 2022 to USD 244.13 Billion by 2032.

Global Urban Planning Software and Services market is growing at a CAGR of 4% during the forecast period 2023-2032.

The global urban planning software and services market has been segmented based on deployment, component, end-user, and regions. The cloud segment led the deployment segment in 2022.

Asia Pacific region emerged as the largest market for the urban planning software and services.

The market's growth will be influenced by using a centralized decision-making model.

The factor that open-source software is becoming more widely available could hamper the market growth.

Investments by several governments will provide huge opportunities to the market.

Key players are AECOM, Autodesk Inc., Act-3D, Holistic City Limited, UrbanFootprint, Bentley Systems, Incorporated, Boston Consulting Group, Ramboll Group A/S, Simwalk and UrbanSim Inc.

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  • Segmentation on the basis of any specific country or region
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  • Application segment can be further divided on the basis of companies
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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 Deployment
          4.3.2. Market Attractiveness Analysis By Component
          4.3.3. Market Attractiveness Analysis By End-User
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Several advantages
          5.2.2. Market Growth using a Centralized Decision-Making Model
    5.3. Restraints
          5.3.1. Open-source software is becoming more widely available
    5.4. Opportunities
          5.4.1. Investments by several governments
    5.5. Challenges
          5.5.1. COVID-19 pandemic

6. Global Urban Planning Software and Services Market Analysis and Forecast, By Deployment
    6.1. Segment Overview
    6.2. Web-based
    6.3. Cloud-based

7. Global Urban Planning Software and Services Market Analysis and Forecast, By Component
    7.1. Segment Overview
    7.2. Service
    7.3. Software

8. Global Urban Planning Software and Services Market Analysis and Forecast, By End-User
    8.1. Segment Overview
    8.2. Real Estate and Infrastructure Companies
    8.3. Government

9. Global Urban Planning Software and Services 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 Urban Planning Software and Services Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Urban Planning Software and Services 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. Component Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. AECOM
          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. Autodesk 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. Act-3D
          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. Holistic City Limited
          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. UrbanFootprint
          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. Bentley Systems, Incorporated
          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. Boston Consulting Group
          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. Ramboll Group A/S
          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. Simwalk
          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. UrbanSim 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 Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

2. Global Web-based Urban Planning Software and Services Market, By Region, 2019-2032 (USD Billion) 

3. Global Cloud-based Urban Planning Software and Services Market, By Region, 2019-2032 (USD Billion) 

4. Global Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

5. Global Service Urban Planning Software and Services Market, By Region, 2019-2032 (USD Billion) 

6. Global Software Urban Planning Software and Services Market, By Region, 2019-2032 (USD Billion) 

7. Global Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

8. Global Real Estate and Infrastructure Companies Urban Planning Software and Services Market, By Region, 2019-2032 (USD Billion) 

9. Global Government Urban Planning Software and Services Market, By Region, 2019-2032 (USD Billion) 

10. Global Urban Planning Software and Services Market, By Region, 2019-2032 (USD Billion) 

11. North America Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

12. North America Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

13. North America Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

14. U.S. Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

15. U.S. Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

16. U.S. Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

17. Canada Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

18. Canada Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

19. Canada Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

20. Mexico Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

21. Mexico Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

22. Mexico Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

23. Europe Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

24. Europe Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

25. Europe Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

26. Germany Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

27. Germany Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

28. Germany Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

29. France Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

30. France Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

31. France Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

32. U.K. Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

33. U.K. Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

34. U.K. Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

35. Italy Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

36. Italy Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

37. Italy Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

38. Spain Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

39. Spain Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

40. Spain Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

41. Asia Pacific Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

42. Asia Pacific Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

43. Asia Pacific Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

44. Japan Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

45. Japan Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

46. Japan Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

47. China Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

48. China Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

49. China Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

50. India Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

51. India Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

52. India Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

53. South America Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

54. South America Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

55. South America Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

56. Brazil Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

57. Brazil Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

58. Brazil Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

59. Middle East and Africa Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

60. Middle East and Africa Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

61. Middle East and Africa Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

62. UAE Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

63. UAE Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

64. UAE Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

65. South Africa Urban Planning Software and Services Market, By Deployment, 2019-2032 (USD Billion) 

66. South Africa Urban Planning Software and Services Market, By Component, 2019-2032 (USD Billion) 

67. South Africa Urban Planning Software and Services Market, By End-User, 2019-2032 (USD Billion) 

List of Figures 

1. Global Urban Planning Software and Services Market Segmentation

2. Urban Planning Software and Services 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 Urban Planning Software and Services Market Attractiveness Analysis By Deployment

9. Global Urban Planning Software and Services Market Attractiveness Analysis By Component

10. Global Urban Planning Software and Services Market Attractiveness Analysis By End-User

11. Global Urban Planning Software and Services Market Attractiveness Analysis By Region

12. Global Urban Planning Software and Services Market: Dynamics

13. Global Urban Planning Software and Services Market Share by Deployment (2023 & 2032)

14. Global Urban Planning Software and Services Market Share by Component (2023 & 2032)

15. Global Urban Planning Software and Services Market Share by End-User (2023 & 2032)

16. Global Urban Planning Software and Services Market Share by Regions (2023 & 2032)

17. Global Urban Planning Software and Services 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 urban planning software and services market based on below mentioned segments:

Global Urban Planning Software and Services Market by Deployment:

  • Web-based
  • Cloud-based

Global Urban Planning Software and Services Market by Component:

  • Service
  • Software

Global Urban Planning Software and Services Market by End-User:

  • Real Estate and Infrastructure Companies
  • Government

Global Urban Planning Software and Services 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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