Business Travel Market

Business Travel Market Size & Overview – Key Insights & Forecast

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-13914
  • Published Date: Sep, 2024
  • Pages: 238
  • Category: Consumer Goods
  • Format: PDF
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Market Introduction

The global Business Travel market generated USD 999.08 billion revenue in 2023 and is projected to grow at a CAGR of 10.82% from 2024 to 2033. The market is expected to reach USD 2,791.13 billion by 2033. The surge in travel and tourism activities and the rapid growth of businesses globally are driving the robust expansion of the global business travel market. Technological advancements have played a pivotal role, facilitating convenient access to hotel and transport bookings through online portals contributing to the market's continued growth. Moreover, increased infrastructural investments by regional governments are expected to drive market expansion in the foreseeable future. The advancement in technology, surge in the digitalization of travel payments, and convenience of business service in hotels are also some of the factors driving the market.

Business travel is the undertaking of journeys by individuals representing their organization for work-related purposes. This aspect involves physically relocating employees or professionals to destinations beyond their typical workplace, typically with the primary objective of carrying out business activities. These activities include attending meetings and conferences and engaging in tasks designed to contribute to the organization's operational objectives. Business travel is central to the functioning of organizations, catalyzing relationship-building, expanding market reach, and facilitating critical face-to-face interactions. These interactions are essential for effective collaboration, negotiation, and professional development. Business travel is a multifaceted practice that holds integral importance across various industries. It is characterized by its focus on advancing the organization's business interests and achieving specific operational goals. In essence, business travel is a dynamic and essential component of professional engagement, contributing significantly to organizational growth and success.

Business Travel Market Size

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Recent Development

  • In November 2023: Flight Centre Travel Group (FCTG), a prominent global travel management company, has unveiled the creation of an 'AI Centre of Excellence.' This innovative global division is dedicated to advancing, embracing, and seamlessly incorporating artificial intelligence technologies across FCTG's corporate divisions. The 'AI Centre of Excellence's primary objective is to strategically leverage AI's capabilities, bringing about a transformative impact on FCTG's leading business travel segments, namely FCM and Corporate Traveller. Implementing AI aims to enhance customer experiences, elevate employee productivity, and drive overall organizational innovation.    
  • In October 2023: Citi has officially launched a new travel and expense system in collaboration with Navan, a prominent modern travel and expense management solution. Specifically tailored for CCB (Citi Commercial Bank) cardholders, this joint venture combines the comprehensive features of Navan's compact solution with Citi Group's top commercial card solutions. The strategic partnership takes advantage of Navan Connect's creative card-link technology, creating a smooth digital experience for CCB cardholders. Distinguished as the industry's inaugural end-to-end corporate Travel and Expense (T&E) management collaboration on a substantial scale, the travel and expense system will initially be available exclusively to CCB clients based in the United States.
  • In June 2023: Priceline and Google Cloud have unveiled a collaborative effort to introduce artificial intelligence chatbot technology into the travel booking experience. Leveraging Google's generative AI tools, this partnership enables potential travellers to engage with a chatbot during the planning phase. Beyond the chatbot functionality, Priceline is set to incorporate a map view powered by Google Cloud Vertex AI onto hotel details pages. This feature will give customers personalized neighbourhood insights, encompassing nearby attractions, local dining options, and events.

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 Service
          4.3.2. Market Attractiveness Analysis by Industry
          4.3.3. Market Attractiveness Analysis by Traveller
          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. Economic Growth and Corporate Profitability
          5.2.2. Industry-Specific Demands
    5.3. Restraints
          5.3.1. Rising Costs
    5.4. Opportunities
          5.4.1. Technology Integration
          5.4.2. Personalization and Customization
    5.5. Challenges
          5.5.1. Security and Safety Concerns

6. Global Business Travel Market Analysis and Forecast, By Service
    6.1. Segment Overview
    6.2. Business Activity
    6.3. Food & Lodging
    6.4. Transportation

7. Global Business Travel Market Analysis and Forecast, By Industry
    7.1. Segment Overview
    7.2. Corporate
    7.3. Government

8. Global Business Travel Market Analysis and Forecast, By Traveller
    8.1. Segment Overview
    8.2. Group
    8.3. Solo

9. Global Business Travel 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 Business Travel Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Business Travel 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. Industry Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Airbnb, Inc.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Industry Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. American Express Company
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Industry Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. BCD Group
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Industry Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Booking Holdings
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Industry Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Carlson Holdings, Inc.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Industry Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. CWT Solutions
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Industry Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Corporate Travel Management
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Industry Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Citi Group
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Industry Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Chase
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Industry Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Direct Travel, Inc.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Industry Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Egencia LLC
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Industry Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Expedia, Inc.
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Industry Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. Frosch International Travel
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Industry Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. Fareportal
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Industry Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Flight Centre Travel Group Limited
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Industry Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis
    11.16. Hogg Robinson Ltd
          11.16.1. Business Overview
          11.16.2. Company Snapshot
          11.16.3. Company Market Share Analysis
          11.16.4. Company Industry Portfolio
          11.16.5. Recent Developments
          11.16.6. SWOT Analysis
    11.17. Navan, Inc.
          11.17.1. Business Overview
          11.17.2. Company Snapshot
          11.17.3. Company Market Share Analysis
          11.17.4. Company Industry Portfolio
          11.17.5. Recent Developments
          11.17.6. SWOT Analysis
    11.18. Ovation Travel Group
          11.18.1. Business Overview
          11.18.2. Company Snapshot
          11.18.3. Company Market Share Analysis
          11.18.4. Company Industry Portfolio
          11.18.5. Recent Developments
          11.18.6. SWOT Analysis
    11.19. Priceline
          11.19.1. Business Overview
          11.19.2. Company Snapshot
          11.19.3. Company Market Share Analysis
          11.19.4. Company Industry Portfolio
          11.19.5. Recent Developments
          11.19.6. SWOT Analysis
    11.20. Travel Leaders Group
          11.20.1. Business Overview
          11.20.2. Company Snapshot
          11.20.3. Company Market Share Analysis
          11.20.4. Company Industry Portfolio
          11.20.5. Recent Developments
          11.20.6. SWOT Analysis
    11.21. TravelPerk S.L.U
          11.21.1. Business Overview
          11.21.2. Company Snapshot
          11.21.3. Company Market Share Analysis
          11.21.4. Company Industry Portfolio
          11.21.5. Recent Developments
          11.21.6. SWOT Analysis
    11.22. Wexas Travel
          11.22.1. Business Overview
          11.22.2. Company Snapshot
          11.22.3. Company Market Share Analysis
          11.22.4. Company Industry Portfolio
          11.22.5. Recent Developments
          11.22.6. SWOT Analysis

List of Table

1. Global Business Travel Market, By Service, 2020-2033 (USD Billion) 

2. Global Business Activity, Business Travel Market, By Region, 2020-2033 (USD Billion) 

3. Global Food & Lodging, Business Travel Market, By Region, 2020-2033 (USD Billion) 

4. Global Transportation, Business Travel Market, By Region, 2020-2033 (USD Billion) 

5. Global Business Travel Market, By Industry, 2020-2033 (USD Billion) 

6. Global Corporate, Business Travel Market, By Region, 2020-2033 (USD Billion) 

7. Global Government, Business Travel Market, By Region, 2020-2033 (USD Billion) 

8. Global Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

9. Global Group, Business Travel Market, By Region, 2020-2033 (USD Billion) 

10. Global Solo, Business Travel Market, By Region, 2020-2033 (USD Billion) 

11. Global Business Travel Market, By Region, 2020-2033 (USD Billion) 

12. North America Business Travel Market, By Service, 2020-2033 (USD Billion) 

13. North America Business Travel Market, By Industry, 2020-2033 (USD Billion) 

14. North America Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

15. U.S. Business Travel Market, By Service, 2020-2033 (USD Billion) 

16. U.S. Business Travel Market, By Industry, 2020-2033 (USD Billion) 

17. U.S. Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

18. Canada Business Travel Market, By Service, 2020-2033 (USD Billion) 

19. Canada Business Travel Market, By Industry, 2020-2033 (USD Billion) 

20. Canada Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

21. Mexico Business Travel Market, By Service, 2020-2033 (USD Billion) 

22. Mexico Business Travel Market, By Industry, 2020-2033 (USD Billion) 

23. Mexico Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

24. Europe Business Travel Market, By Service, 2020-2033 (USD Billion) 

25. Europe Business Travel Market, By Industry, 2020-2033 (USD Billion) 

26. Europe Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

27. Germany Business Travel Market, By Service, 2020-2033 (USD Billion) 

28. Germany Business Travel Market, By Industry, 2020-2033 (USD Billion) 

29. Germany Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

30. France Business Travel Market, By Service, 2020-2033 (USD Billion) 

31. France Business Travel Market, By Industry, 2020-2033 (USD Billion) 

32. France Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

33. U.K. Business Travel Market, By Service, 2020-2033 (USD Billion) 

34. U.K. Business Travel Market, By Industry, 2020-2033 (USD Billion) 

35. U.K. Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

36. Italy Business Travel Market, By Service, 2020-2033 (USD Billion) 

37. Italy Business Travel Market, By Industry, 2020-2033 (USD Billion) 

38. Italy Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

39. Spain Business Travel Market, By Service, 2020-2033 (USD Billion) 

40. Spain Business Travel Market, By Industry, 2020-2033 (USD Billion) 

41. Spain Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

42. Asia Pacific Business Travel Market, By Service, 2020-2033 (USD Billion) 

43. Asia Pacific Business Travel Market, By Industry, 2020-2033 (USD Billion) 

44. Asia Pacific Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

45. Japan Business Travel Market, By Service, 2020-2033 (USD Billion) 

46. Japan Business Travel Market, By Industry, 2020-2033 (USD Billion) 

47. Japan Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

48. China Business Travel Market, By Service, 2020-2033 (USD Billion) 

49. China Business Travel Market, By Industry, 2020-2033 (USD Billion) 

50. China Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

51. India Business Travel Market, By Service, 2020-2033 (USD Billion) 

52. India Business Travel Market, By Industry, 2020-2033 (USD Billion) 

53. India Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

54. South America Business Travel Market, By Service, 2020-2033 (USD Billion) 

55. South America Business Travel Market, By Industry, 2020-2033 (USD Billion) 

56. South America Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

57. Brazil Business Travel Market, By Service, 2020-2033 (USD Billion) 

58. Brazil Business Travel Market, By Industry, 2020-2033 (USD Billion) 

59. Brazil Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

60. Middle East and Africa Business Travel Market, By Service, 2020-2033 (USD Billion) 

61. Middle East and Africa Business Travel Market, By Industry, 2020-2033 (USD Billion)

62. Middle East and Africa Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

63. UAE Business Travel Market, By Service, 2020-2033 (USD Billion) 

64. UAE Business Travel Market, By Industry, 2020-2033 (USD Billion) 

65. UAE Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

66. South Africa Business Travel Market, By Service, 2020-2033 (USD Billion) 

67. South Africa Business Travel Market, By Industry, 2020-2033 (USD Billion) 

68. South Africa Business Travel Market, By Traveller, 2020-2033 (USD Billion) 

List of Figures 

1. Global Business Travel Market Segmentation

2. Business Travel 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 Business Travel Market Attractiveness Analysis by Service

9. Global Business Travel Market Attractiveness Analysis by Industry

10. Global Business Travel Market Attractiveness Analysis by Traveller

11. Global Business Travel Market Attractiveness Analysis by Region

12. Global Business Travel Market: Dynamics

13. Global Business Travel Market Share by Service (2023 & 2033)

14. Global Business Travel Market Share by Industry (2023 & 2033)

15. Global Business Travel Market Share by Traveller (2023 & 2033)

16. Global Business Travel Market Share by Regions (2023 & 2033)

17. Global Business Travel Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Business Travel market based on below-mentioned segments:

Global Business Travel Market by Service:

  • Business Activity
  • Food & Lodging
  • Transportation

Global Business Travel Market by Industry:

  • Corporate           
  • Government

Global Business Travel Market by Traveller:

  • Group           
  • Solo         

Global Business Travel 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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