Vertical Farming Market

Vertical Farming Market Size by Structure (Shipping Container, Building-Based), By Growth Mechanism (Hydroponics, Aeroponics and Aquaponics), Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13182
  • Published Date: Dec, 2022
  • Pages: 236
  • Category: Agriculture
  • Format: PDF
Buy @ $4700.00 Request Sample PDF

The Vertical Farming market was estimated at around USD 4.3 billion in 2021, growing at a CAGR of nearly 23% during 2022-2030. The market is projected to reach approximately USD 33 billion by 2030.

Vertical Farming Market: Overview

The practice of growing food in vertical stacks, such as in a disused warehouse, a skyscraper, or a shipping container, is known as vertical farming. Organic food is thought to be more wholesome, safe, and environmentally beneficial. Consumer food purchasing habits are a significant component that affects the demand for organic food, making it crucial for producers, legislators, and suppliers to execute effective marketing strategies. Consumers frequently experience health problems related to obesity and heart disease. Additionally, traditional growers have been forced to switch to alternative farming practices due to the growing groundwater shortage and changing climatic circumstances. The issues listed above, and growing consumer health concerns are likely to boost industry demand.

Contrary to traditional farming, indoor farming may grow crops all year round, increasing output. Furthermore, by using techniques like controlled environment agriculture technology, where facilities use artificial environmental control, regulation of light, and fertigation, indoor farming can shield crops from extreme weather conditions. Some of the key drivers behind market expansion are rising urbanization, autonomous agriculture methods, and rising food quality demand. The need for food has increased as a result of these circumstances. With an increasing population, the need for food is anticipated to increase significantly by 2030. With the use of the vertical farming technique, consumers can now cultivate their own produce in a warehouse or multi-story structure.

Vertical Farming Market Size

Get an overview of this study by requesting a free sample

Vertical Farming Market: COVID – 19 Impact Analysis

Since the demand for high-quality products has been reduced to general food products as a result of the new coronavirus or Covid 19 pandemic, the vertical farming sector has been badly impacted. Companies in this sector have experienced staffing shortages, stockpiles, and forced closures. Lockdowns in many nations have severely slowed the vertical farming industry's poor growth pace and increased demand for structures and equipment. The effects of COVID 19 are readily apparent in the fact that the majority of the major players are required to close their primary production facilities and make personnel reductions. However, once the lockdown limitations are lifted, it is anticipated that the market would undoubtedly resume its upward trend. The post-lockdown period is anticipated to be quite profitable for the vertical farming business. With increasing investments being made by the general public for agricultural objectives, the component-by-component market is anticipated to offer the highest returns.

Vertical Farming Market: Growth Drivers

Increasing population to accelerate the market’s growth

Because of growing populations and rising per capita incomes, which have changed consumer preferences for more organic, healthy, and environmentally friendly foods, the vertical farming industry has been expanding in a variety of ways across all market segments and geographical areas. This has created a market for vertical farming businesses. The market for organic farming, which naturally tends to produce such fruits and vegetables without the use of insecticides and pesticides and are high in nutritional content, has been pushed by people's growing awareness of what they eat and increased focus on health issues. This industry, where people are interested in producing agricultural products in tiny quantities in their houses, has grown thanks to vertical farming.

Better yield than conventional one

Because it uses climate control, which constantly modifies temperature and humidity, and LED lighting, vertical farming yields are higher than those from conventional farming. It gives one access all year long to locally grown vegetables that are fresh and free of pesticides, giving one more control over the plants' growing environment. Vertical farming also offers significant output advantages. It has been demonstrated that vertical farming may increase agricultural output by 240 times while using 99% less land, 95% less water, and zero pesticides. This indicates that despite having greater operating costs, vertical farms yield more crops, which generates higher revenues. In vertical farms, crops are continually replanted without consideration for crop rotations. In addition, this type of farming is a great choice when there is a dearth of agriculturally suitable land. Since vertical farming systems don't need a lot of space, they can be set up in urban areas. Vertical farms are also well-positioned to increase food supply chain resilience by diversifying local food production because they can be set up anywhere and consume less land and water than regular farms.

Vertical Farming Market: Segmentation Analysis

The Vertical Farming market is segmented into the Structure, and Growth Mechanism. Based on Structure and with a market share of more than 50% in 2021, the shipping container category dominated the vertical farming market and is anticipated to continue dominating during the forecast period. This growth is attributed to the building's ability to support crop production regardless of location. One of the main benefits of container farming is that it is portable and doesn't need a sizable piece of land or a special facility to start growing. Additionally, as competition grows, shipping container prices decrease since it is very inexpensive to acquire used containers, allowing more businesses to enter the market. Poor comparative productivity and conflict between light, heat, and layout are two drawbacks of such systems.

By growth mechanism, the hydroponics segment is anticipated to dominate the market with more than 50% in 2021 during the projection period. Hydroponics is a well-liked growth technique due to its low installation costs and simplicity of use. It is a technique for growing plants that substitutes a mineral solution for soil around the plant roots. Additionally, the hydroponics method reduces the risk of sickness due to soil organisms. Demand for hydroponics is expected to increase as consumers become more aware of the risks associated with pesticides. Plants grown hydroponically offer a better yield than equivalent soil-grown plants due to good nutrient control. Additionally, plant roots are immersed in the chemical solution and monitored on a regular basis to make sure

Report Scope

Attribute Description
Base Year 2021
Forecast period 2022-2030
Report Coverage Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Market Size(unit) USD Billion
CAGR (2022 to 2030) 6.9%
Segments Covered

By Structure
By Growth Mechanism

Key Insights:

  • Based on Structure segmentation, the shipping container segment is estimated to hold the largest market share during the forecast period.
  • Based on Growth Mechanism segmentation, the hydroponics segment is the leading revenue-generating category during the forecast period.
  • On the basis of geography/region, the Asia Pacific region was the leading revenue generator in 2021.

Recent Development

  • An indoor vertical farming building will be built in the UAE to take advantage of the country's abundant sunlight and heat in order to promote the growth of vertical farming and to boost Aerofarms' business. Aerofarms is a significant vertical farming firm in the USA.
  • The Internet of Things has recently been a major player in the vertical farming industry, which has helped to lower costs associated with manufacturing and distribution while also speeding up the delivery of goods from the point of manufacture to the actual point of delivery. Thus, it has entirely changed the viewpoint and reach of the vertical farming industry globally.
  • The market for vertical farming has recently benefited from the development of robot harvesters, robotic seed planters, and greenhouse roof cleaners by lowering various costs associated with it. The most recent innovation that enables crop production using this technique is the use of hydroponics.

Regional Landscape

Throughout the projection period, Asia-Pacific is expected to remain one of the most alluring markets, and this region accounts for the majority revenue share in the market. With a revenue share of over 37% in 2021, Asia Pacific dominated the market, and it is anticipated that it will continue to do so throughout the projected period. The main reason projected to drive demand is growing awareness of the value of alternative farming due to a lack of productive agricultural land and an escalating population in the area. Due to the increased use of genetically modified crops, Europe is predicted to experience significant growth during the forecast timeframe. Additionally, the growing use of nanotechnology and robots in agriculture increases regional market demand. Nanotechnology is used to enhance disease and pest management, as well as food packaging. To address issues, the European Environment Agency has launched a number of projects to construct vertical farms.

List of the prominent players in the Global Vertical Farming market:

  • Aerofarms
  • Urban Crop
  • Illumitex, Inc.
  • Sky Greens 
  • Koninklijke Philips N.V.
  • Everlight Electronics Co., Ltd.
  • Green Sense Farms, LLC
  • Agrilution
  • American Hydroponics
  • Vertical Farm Systems

The global Vertical Farming market is segmented as follows:

By Structure

  • Shipping Container
  • Building Based

By Growth Mechanism

  • Hydroponics
  • Aeroponics
  • Aquaponics

By Region/Geography

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

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

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Structure
          4.3.2. Market Attractiveness Analysis By Growth Mechanism
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing population to accelerate the market’s growth
          5.2.2. Better yield than conventional ones
    5.3. Restrains
          5.3.1. Availability of substitute materials would hamper the market
    5.4. Opportunities
          5.4.1. Increasing Urbanization

6. Global Vertical Farming Market Analysis and Forecast, By Structure
    6.1. Segment Overview
    6.2. Shipping Container
    6.3. Building Based

7. Global Vertical Farming Market Analysis and Forecast, By Growth Mechanism
    7.1. Segment Overview
    7.2. Hydroponics
    7.3. Aeroponics
    7.4. Aquaponics

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

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

10. Company Profiles
    10.1. Aerofarms
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Growth Mechanism Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Urban Crop
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Growth Mechanism Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Illumitex inc.
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Growth Mechanism Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Sky Greens
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Growth Mechanism Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Koninklijke Philips N.V.
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Growth Mechanism Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Everlight Electronics Co., Ltd.
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Growth Mechanism Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Green Sense Farms, LLC
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Growth Mechanism Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Agrilution
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Growth Mechanism Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. American Hydroponics
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Growth Mechanism Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Vertical Farm Systems
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Growth Mechanism Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
 

List of Table

1. Global Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

2. Global Shipping Container Vertical Farming Market, By Region, 2022-2030(USD Billion) 

3. Global Building based Vertical Farming Market, By Region, 2022-2030(USD Billion) 

4. Global Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

5. Global Hydroponics Vertical Farming Market, By Region, 2022-2030(USD Billion) 

6. Global Aeroponics Vertical Farming Market, By Region, 2022-2030(USD Billion) 

7. Global Aquaponics Vertical Farming Market, By Region, 2022-2030(USD Billion) 

8. Global Medical Vertical Farming Market, By Region, 2022-2030(USD Billion) 

9. Global Others Vertical Farming Market, By Region, 2022-2030(USD Billion) 

10. Global Vertical Farming Market, By Region, 2022-2030(USD Billion) 

11. Global Vertical Farming Market, By North America, 2022-2030(USD Billion) 

12. North America Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

13. North America Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

14. U.S. Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

15. U.S. Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion)  

16. Canada Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

17. Canada Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

18. Mexico Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

19. Mexico Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

20. Europe Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

21. Europe Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

22. Germany Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

23. Germany Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

24. France Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

25. France Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

26. U.K. Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

27. U.K. Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion)  

28. Italy Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

29. Italy Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

30. Spain Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

31. Spain Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion)

32. Rest of Europe Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

33. Rest of Europe Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion)

34. Asia Pacific Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

35. Asia Pacific Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

36. Japan Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

37. Japan Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

38. China Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

39. China Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

40. India Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

41. India Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

42. Australia Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

43. Australia Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

44. South Korea Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

45. South Korea Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

46. Rest of Asia-Pacific Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

47. Rest of Asia-Pacific Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

48. South America Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

49. South America Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion)  

50. Brazil Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

51. Brazil Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

52. Argentina Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

53. Argentina Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

54. Rest of Latin America Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

55. Rest of Latin America Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

56. Middle East and Africa Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

57. Middle East and Africa Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

58. UAE Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

59. UAE Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

60. South Africa Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

61. South Africa Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

62. Egypt Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

63. Egypt Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

64. Kuwait Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

65. Kuwait Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

66. Saudi Arabia Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

67. Saudi Arabia Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

68. Rest of Middle East Vertical Farming Market, By Structure, 2022-2030(USD Billion) 

69. Rest of Middle East Vertical Farming Market, By Growth Mechanism, 2022-2030(USD Billion) 

List of Figures 

1. Global Vertical Farming Market Segmentation

2. Vertical Farming 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 Vertical Farming Market Attractiveness Analysis By Structure

9. Global Vertical Farming Market Attractiveness Analysis By Growth Mechanism

10. Global Vertical Farming Market Attractiveness Analysis By Region

11. Global Vertical Farming Market: Dynamics

12. Global Vertical Farming Market Share By Structure(2022 & 2030)

13. Global Vertical Farming Market Share By Growth Mechanism(2022 & 2030)

14. Global Vertical Farming Market Share by Regions (2022 & 2030)

15. Global Vertical Farming Market Share by Company (2021)

By Structure

  • Shipping Container
  • Building Based

By Growth Mechanism

  • Hydroponics
  • Aeroponics
  • Aquaponics

By Region/Geography

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

Methodology

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

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

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

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

MARKET RESEARCH PROCESS

Data Procurement:

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

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

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

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

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

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

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

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

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

The demand side for the market is estimated through:

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

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

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

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

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

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

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

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

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

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

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

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

Some Facts About The Brainy Insights

50%

Free Customization

300+

Fortune 500 Clients

1

Free Yearly Update On Purchase Of Multi/Corporate License

900+

Companies Served Till Date