Waste Management Market

Waste Management Market Size by Service Type (Transportation, Collection, Disposal), Waste Type (Medical Waste, E-waste, Municipal Waste, Industrial Waste), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13555
  • Published Date: Jul, 2023
  • Pages: 231
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global waste management market was valued at USD 1,352.83 billion in 2022, which is anticipated to grow at a CAGR of 4.93% from 2023 to 2032. To enhance the service, strict government laws like the Resource Conservation and Recovery Act and the Waste Shipment Regulation are anticipated to drive the market. Due to the lockdown imposed during the COVID-19 pandemic, waste generation from the commercial and industrial sectors was reduced as businesses and industries shut down entirely or partially. However, the amount of urban garbage increased in populated areas. The waste recycling industry and businesses restarted at total capacity due to the reopening of production facilities at the beginning of 2021, along with an increase in vaccination rates.

Market Introduction:

Waste management refers to the collecting, transporting, and disposal of waste, sewage, and other waste products. It includes handling solid waste along with safely and effectively discarding undesirable goods and chemicals. Solid, liquid, and gaseous waste are all included in waste management. Municipal, industrial, and hazardous waste are all handled via waste management. Municipal waste is a broad term for household and non-hazardous waste produced in towns and cities. Industrial waste is waste produced during production and manufacturing activities in industries. Waste produced by the pharmaceutical, medical, chemical, and paint manufacturing industries is referred to as hazardous waste. The collection and disposal of garbage are additional significant tasks. Storage, handling, and sorting garbage are all considered collection services. In contrast, disposable services include composting, recycling, segregating garbage for landfills, and anaerobic digestion. Waste management is the treatment of solid waste and includes a variety of recycling techniques. One of the main factors fueling the market expansion is the increasing awareness programmes highlighting the necessity of waste management and segregation. In the upcoming years, increased urbanization and industrialization, rising environmental concerns, and adopting sustainable waste management practices are all projected to contribute substantially to the waste management market.

Waste Management Market Size

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Recent Development
  • To increase its operations in Canada and boost its position in waste management, FCC Environmental Services acquired Wastech Services Ltd. in 2021.
  • To enter the Chinese waste management business and increase its global reach, China Everbright International acquired Veolia China in 2021.
  • One of the biggest waste management firms in the UK, Biffa, acquired the commercial waste division of Company Shop Group in 2021, allowing it to diversify into the food waste management business.
  • Waste Management acquired Advanced Disposal Services, a solid waste management business, in October 2020. Due to this acquisition, approximately 3 million new commercial, residential, and industrial customers—concentrated in 16 states in the eastern half of the US— have access to Waste Management's unique, sustainable waste management and recycling services.
  • Eramet and SUEZ partnered in May 2021 to increase their collaborative efforts in the market for recycling end-of-life electric vehicle batteries. This cooperation is predicted to put forth a highly implementable, affordable, and practical battery recycling option for the European market.
  • Veolia and Groupe Renault partnered in March 2021 to strengthen the European economy using EV battery metals through closed-loop recycling.

Market Dynamics:

Drivers

An increase in e-waste caused by technological advancements and the shorter lifespan of electronic products- Development, introduction, growth, maturation, and disposal or recycling are all parts of the normal life cycle of an electronic product. When an electronic product reaches the recycling stage, it may be because of the end of its useful life, technological advancements, or shifting market demands. New electronic devices and improved models of already-existing products, such as laptops, mobile phones, and televisions, are produced as a result of the rapid improvements in technology. The shelf life of electronic devices also gets shorter as people's purchasing power rises. Every year, improved versions of smartphones and other electronic devices are released; the older models are either discarded or sold online for recycling. More e-waste is produced due to the shorter lifespan of electronic items. Electronic waste management is required due to this accumulation of electronic material and the requirement to recycle electronic devices. Since the emergence of personal computers and mobile phones, the average lifespan of consumer electronics and the parts used to create them have steadily declined. The typical electronics lifespan has decreased from the initial expectation of 40+ years to 1.5 to 13 years, with most devices lasting an average of 4-5 years.

Restraints:

Lack of essential infrastructure for garbage collection and separation- Municipalities and other organizations involved in garbage collection face severe danger from improper waste disposal. People living near a polluted environment or a landfill may suffer serious health consequences due to improper garbage disposal. Exposure to poorly disposed garbage can result in rashes on the skin, blood infections, respiratory disorders, growth challenges, and even reproductive problems. Developed nations like the US, Australia, Japan, and Germany have effectively created frameworks for waste management analysis, allowing for efficient garbage handling and ensuring that it produces valuable outcomes through recycling. Countries like Egypt, Turkey, South Africa, Nigeria, Brazil, and Middle Eastern nations haven't yet standardized and organized their waste management frameworks, significantly contributing to poor handling of waste materials. Different waste categories should be separated at the source to recover a significant quantity of recyclable garbage and cut down on overall effort and time. The three main issues with solid waste management are incorrect garbage collection, unscientific treatment, and ethical concerns like discarding e-waste. As a result, the market for waste management is constrained from expanding due to risks like environmental degradation, water pollution, soil pollution, and air pollution.

Opportunities:

Urban areas are using more construction and demolition materials due to an increase in construction projects- In some areas, a majority of the waste stream from constructing and demolishing is illegally dumped on land or in natural drainage systems, including water, against laws intended to safeguard public health, industry, and the environment. Millions of tonnes of waste from buildings are annually legally disposed of in solid waste dumps by businesses and citizens. Smart cities are being created in metropolitan regions to encourage sustainable economic growth. The need for construction creates profitable opportunities for businesses involved in waste management. A procedure known as diversion is used to remove a significant volume of construction-related garbage from the waste stream as a result of an increase in construction activities. Diverted materials are separated for later recycling and reuse. The amount of garbage generated by buildings is substantially impacted by macroeconomic factors, which include an impact on construction, society consumption patterns, and risks, both natural and artificial. The amount of construction and demolition debris dumped in landfills has decreased recently due to increased awareness about the reuse and disposal of building materials. There are numerous potentials for substantially reducing and recovering materials that would otherwise be discarded as waste.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the most significant global waste management market, with a 26.75% market revenue share in 2022. Awareness about waste management is projected to increase due to government initiatives like the Swacch Bharat Abhiyan and the zero waste plans adopted by various Asia Pacific nations. It is projected that this will have a favourable effect on expanding the market in Asia Pacific.

Asia-Pacific Region Waste Management Market Share in 2022 - 26.75%

 

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Service Type Segment Analysis

The service type segment is divided into transportation, collection, and disposal. The collection segment dominated, with a market share of around 37.41% in 2022. Segregating garbage, loading and unloading waste, choosing a suitable location, preparing that location for storage of waste at a minimal distance from the location of waste generation, and maintaining the waste are all included in waste collecting. The waste collection companies must think about routinely maintaining and cleaning these storage spaces. Proper precautions must be taken while carrying the waste to prevent the garbage from spilling or leaking. The liquid waste must be protected and sealed during transportation to prevent leaks. Non-hazardous garbage from commercial and industrial buildings can be delivered directly to the recycling facility. At the same time, hazardous material must be transported through specialized transport vehicles with a specified level of protection.

Waste Segment Analysis

The waste segment is divided into medical waste, e-waste, municipal waste, and industrial waste. The industrial waste segment dominated the market, with a market share of around 28.55% in 2022. Increased industrial waste output is primarily a result of rapid urban and industrialization. Industrial waste management is essential because improper handling of this garbage can pollute lakes and groundwater and harm wildlife and vegetation.

Some of the Key Market Players:
  • Suez
  • Veolia
  • Republic Services
  • Clean Harbors
  • Daiseki
  • Remondis Se & Co. Kg
  • Fcc Environment
  • Stericycle
  • Waste Management
  • Waste Connections
  • Covanta Holding
  • Biomedical Waste Solutions
  • Valicor
  • Hitachi Zosen
  • Urbaser
  • Biffa

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 1,352.83 Billion
Market size value in 2032 USD 2,188.97 Billion
CAGR (2023 to 2032) 4.93%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Service Type, Waste Type

Frequesntly Asked Questions

As per The Brainy Insights, the size of the waste management market was valued at USD 1,352.83 Billion in 2022 & USD 2,188.97 Billion by 2032.

Global waste management market is growing at a CAGR of 4.93% during the forecast period 2023-2032.

Asia Pacific region emerged as the largest market for the waste management.

An increase in e-waste caused by technological advancements and the shorter lifespan of electronic products is a significant driving factor for the growth of the waste management market.

Lack of essential infrastructure for garbage collection and separation is a significant restraining factor for the growth of the waste management market.

Urban areas are using more construction and demolition materials due to an increase in construction projects is a significant opportunity for the growth of the waste management market.

1. Introduction
    1.1. Objective 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 Service Type
          4.3.2. Market Attractiveness Analysis By Waste Type
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. An increase in e-waste caused by technological advancements and the shorter lifespan of electronic products
    5.3. Restraints
          5.3.1. Lack of essential infrastructure for garbage collection and separation
    5.4. Opportunities
          5.4.1. Urban areas are using more construction and demolition materials due to an increase in construction projects

6. Global Waste Management Market Analysis and Forecast, By Service Type
    6.1. Segment Overview
    6.2. Transportation
    6.3. Collection
    6.4. Disposal

7. Global Waste Management Market Analysis and Forecast, By Waste Type
    7.1. Segment Overview
    7.2. Medical Waste
    7.3. E-waste
    7.4. Municipal Waste
    7.5. Industrial Waste

8. Global Waste Management 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
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Waste Management Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Waste Management 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. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Suez
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Veolia
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Republic Services
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Clean Harbors
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Daiseki
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Remondis Se & Co. Kg
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Fcc Environment
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Stericycle
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Waste Management
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Waste Connections
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Product Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. Covanta Holding
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Product Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. Biomedical Waste Solutions
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company Product Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis
    10.13. Valicor
          10.13.1. Business Overview
          10.13.2. Company Snapshot
          10.13.3. Company Market Share Analysis
          10.13.4. Company Product Portfolio
          10.13.5. Recent Developments
          10.13.6. SWOT Analysis
    10.14. Hitachi Zosen
          10.14.1. Business Overview
          10.14.2. Company Snapshot
          10.14.3. Company Market Share Analysis
          10.14.4. Company Product Portfolio
          10.14.5. Recent Developments
          10.14.6. SWOT Analysis
    10.15. Urbaser
          10.15.1. Business Overview
          10.15.2. Company Snapshot
          10.15.3. Company Market Share Analysis
          10.15.4. Company Product Portfolio
          10.15.5. Recent Developments
          10.15.6. SWOT Analysis
    10.16. Biffa
          10.16.1. Business Overview
          10.16.2. Company Snapshot
          10.16.3. Company Market Share Analysis
          10.16.4. Company Product Portfolio
          10.16.5. Recent Developments
          10.16.6. SWOT Analysis
 

List of Table

1. Global Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

2. Global Transportation, Waste Management Market, By Region, 2019-2032 (USD Billion) 

3. Global Collection, Waste Management Market, By Region, 2019-2032 (USD Billion)

4. Global Disposal, Waste Management Market, By Region, 2019-2032 (USD Billion)

5. Global Waste Management Market, By Waste Type, 2019-2032 (USD Billion) 

6. Global Medical Waste, Waste Management Market, By Region, 2019-2032 (USD Billion) 

7. Global E-waste, Waste Management Market, By Region, 2019-2032 (USD Billion)

8. Global Municipal Waste, Waste Management Market, By Region, 2019-2032 (USD Billion) 

9. Global Industrial Waste, Waste Management Market, By Region, 2019-2032 (USD Billion)

10. Global Waste Management Market, By Region, 2019-2032 (USD Billion) 

11. North America Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

12. North America Waste Management Market, By Waste Type, 2019-2032 (USD Billion) 

13. U.S. Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

14. U.S. Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

15. Canada Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

16. Canada Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

17. Mexico Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

18. Mexico Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

19. Europe Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

20. Europe Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

21. Germany Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

22. Germany Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

23. France Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

24. France Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

25. U.K. Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

26. U.K. Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

27. Italy Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

28. Italy Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

29. Spain Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

30. Spain Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

31. Asia Pacific Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

32. Asia Pacific Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

33. Japan Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

34. Japan Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

35. China Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

36. China Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

37. India Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

38. India Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

39. South America Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

40. South America Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

41. Brazil Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

42. Brazil Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

43. Middle East and Africa Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

44. Middle East and Africa Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

45. UAE Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

46. UAE Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

47. South Africa Waste Management Market, By Service Type, 2019-2032 (USD Billion) 

48. South Africa Waste Management Market, By Waste Type, 2019-2032 (USD Billion)

List of Figures 

1. Global Waste Management Market Segmentation

2. Waste Management Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Waste Management Market Attractiveness Analysis By Service Type

9. Global Waste Management Market Attractiveness Analysis By Waste Type

10. Global Waste Management Market Attractiveness Analysis By Region

11. Global Waste Management Market: Dynamics

12. Global Waste Management Market Share by Service Type (2023 & 2032)

13. Global Waste Management Market Share by Waste Type (2023 & 2032)

14. Global Waste Management Market Share by Regions (2023 & 2032)

15. Global Waste Management 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 waste management market based on below mentioned segments:

Global Waste Management by Service Type:

  • Transportation
  • Collection
  • Disposal

Global Waste Management by Waste Type:

  • Medical Waste
  • E-waste
  • Municipal Waste
  • Industrial Waste

Global Waste Management 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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