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Multi-Vendor Support Services Market

Multi-Vendor Support Services Market Size by Service Type (Hardware and Software), Organization Type (Small and Medium Enterprises and Large Enterprises), Application, Industry Vertical, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13422
  • Published Date: Apr, 2023
  • Pages: 238
  • Category: Information Technology & Semiconductors
  • Format: PDF
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Segment Analysis

Regional segmentation analysis

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest global multi-vendor support services market, with a 39% market revenue share in 2022. Significant tech giants and new emerging market players are headquartered in the region. The USA dominates the North American region, given the rapid pace of technological advancement and innovation in the country across domains. The increasing capital expenditure towards developing high-end technological devices, systems and processes to stay ahead in the competitive market has contributed positively to the regional multi-vendor support services market’s growth. The need to focus on advancing solutions rather than maintenance of services and regular operations has encouraged the market players to hire MVSS to reduce operational costs, save time and focus more core activities of the company.

North America Region Multi-Vendor Support Services Market Share in 2022 - 39%

 

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Service type segment analysis

The service type is divided into hardware and software. The software segment dominated the market with a market share of around 54% in 2022. Software support services offer users technical product help and guidance. Remote troubleshooting capabilities, installation assistance, and IT maintenance support are typical components of software support services. The increasing use of Cloud platform services for IT and software support will augment the segment's growth. The global automation and digitization of economic units will propel the segment's development. The rising technological capabilities enabling remote control of business operations and monitoring services have increased the use of software support services in the BFSI, IT, Telecom and manufacturing sectors.

Organization type segment analysis

The organization type is divided into small and medium enterprises and large enterprises. The large enterprises' segment dominated the market with a market share of around 58% in 2022. Large firms are defined by different criteria in each state. However, a company is classified as a large enterprise or corporation based on key factors. An organization qualifies as a major enterprise if it employs many people, has a significant market presence, and generates a sizable number of sales or money each year. They have a wider audience as well as more clients and customers. These enterprises have the capital to hire a third party to keep their non-core activities running without utilizing the fundamental effort and time of company resources that can be used in the core activities. The wide range and scope of operations make hiring experts a better alternative than managing everything through the company. Therefore, its dominance in the market will be driven by the rising need, willingness, and capabilities of large organizations to utilize multi-vendor support services to optimize their company resources and enhance work efficiency.

Application segment analysis

The application is divided into financial and accounting, supply chain, sales and marketing, human resource, IT operations, production, research and development, legal services, and others. The sales and marketing segment dominated the market with a market share of around 34% in 2022. The company's sales and marketing section decides where to sell and how much to charge. This entails making a decision about the employment of intermediaries by the company. The departments of sales and marketing are essential to every company. They are connected and act as a catalyst for generating revenue, which is the main objective and a requirement to keep the business afloat. Sales convert prospective customers into paying customers, whereas marketing focuses on spreading awareness of a company's products and services. Any organization's sales and marketing divisions must function well for the company to be successful. To fill the gap between the needs of potential customers and the products and services available, sales and marketing play a unique and important role in acquiring new customers and maintaining existing ones. Given their knowledge in the field, the multi-vendor support service improves sales by improving consumer interaction. Employing multi-vendor support services helps organizations to concentrate on creating products or other core business operations.

Industry vertical segment analysis

The industry vertical is divided into BFSI, retail and consumer goods, travel and logistics, government and defence, energy and utilities, healthcare and life sciences, manufacturing, telecom and IT, media and entertainment, automotive, education, building and construction, recreational services and others. The telecom and IT segment dominated the market with a market share of around 26% in 2022. Telecommunications offers technology-assisted communication, and information technology is data interchange utilizing computers. The rapid pace of changes and upgrades in the telecom and IT sector has increased the need for the market players to stay competitive with new products, software, technologies, systems and hardware. Focusing on their core research and development, product innovation, and regular technological upgradation is vital for retaining a competitive edge in the market. Therefore, they hire multi-vendor support services to oversee their already established infrastructure, services, customer grievances etc. The decentralization enhances efficiency, improves productivity, and saves valuable time and money for the company. Hiring multi-vendor support services allows flexibility as well.

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

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Service Type
          4.3.2. Market Attractiveness Analysis by Organization Type
          4.3.3. Market Attractiveness Analysis by Application
          4.3.4. Market Attractiveness Analysis by Industry Vertical
          4.3.5. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The expanding and ever-changing IT landscape
    5.3. Restraints
          5.3.1. High cost of multi-vendor support services
    5.4. Opportunities
          5.4.1. The growing innovation in multi-vendor support services
          5.4.2. The expanding scope of support services offered by multi-vendor support services
    5.5. Challenges
          5.5.1. Lax data security and privacy laws
          5.5.2. Lack of standardisation in the services offered

6. Global Multi-Vendor Support Services Market Analysis and Forecast, By Service Type
    6.1. Segment Overview
    6.2. Hardware
    6.3. Software

7. Global Multi-Vendor Support Services Market Analysis and Forecast, By Organization Type
    7.1. Segment Overview
    7.2. Small and Medium Enterprises
    7.3. Large Enterprises

8. Global Multi-Vendor Support Services Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Financial and Accounting
    8.3. Supply Chain
    8.4. Sales and Marketing
    8.5. Human Resource
    8.6. IT Operations
    8.7. Production
    8.8. Research and Development
    8.9. Legal Services
    8.10. Others

9. Global Multi-Vendor Support Services Market Analysis and Forecast, By Industry Vertical
    9.1. Segment Overview
    9.2. BFSI
    9.3. Retail and Consumer Goods
    9.4. Travel and Logistics
    9.5. Government and Defence
    9.6. Energy and Utilities
    9.7. Healthcare and Life Sciences
    9.8. Manufacturing
    9.9. Telecom and IT
    9.10. Media and Entertainment
    9.11. Automotive
    9.12. Education
    9.13. Building and Construction
    9.14. Recreational Services
    9.15. Others

10. Global Multi-Vendor Support Services Market Analysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Multi-Vendor Support Services Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Multi-Vendor Support Services Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. Dell Technologies Inc.
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Product Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. Fujitsu Ltd.
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Product Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. Hitachi Limited
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Product Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. HP
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Product Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. IBM Corporation
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Product Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. Lenovo Group Limited
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Product Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. Microsoft Corporation
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Product Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. NEC Corporation
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Product Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. Oracle Corporation
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Product Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. Symantec
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Product Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis

List of Table

1. Global Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

2. Global Hardware Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

3. Global Software Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

4. Global Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

5. Global Small and Medium Enterprises Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

6. Global Large Enterprises Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

7. Global Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

8. Global Financial and Accounting Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

9. Global Supply Chain Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

10. Global Sales and Marketing Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

11. Global Human Resource Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

12. Global IT Operations Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

13. Global Production Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

14. Global Research and Development Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

15. Global Legal Services Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

16. Global Others Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

17. Global Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

18. Global BFSI Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

19. Global Retail and Consumer Goods Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

20. Global Travel and Logistics Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

21. Global Government and Defence Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

22. Global Energy and Utilities Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

23. Global Healthcare and Life Sciences Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

24. Global Manufacturing Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

25. Global Telecom and IT Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

26. Global Media and Entertainment Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

27. Global Automotive Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

28. Global Education Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

29. Global Building and Construction Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

30. Global Recreational Services Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

31. Global Others Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

32. Global Multi-Vendor Support Services Market, By Region, 2019-2032 (USD Billion) 

33. North America Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

34. North America Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

35. North America Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

36. North America Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

37. U.S. Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

38. U.S. Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

39. U.S. Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

40. U.S. Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

41. Canada Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

42. Canada Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

43. Canada Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

44. Canada Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

45. Mexico Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

46. Mexico Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

47. Mexico Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

48. Mexico Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

49. Europe Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

50. Europe Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

51. Europe Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

52. Europe Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

53. Germany Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

54. Germany Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

55. Germany Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

56. Germany Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

57. France Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

58. France Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

59. France Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

60. France Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

61. U.K. Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

62. U.K. Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

63. U.K. Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

64. U.K. Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

65. Italy Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

66. Italy Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

67. Italy Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

68. Italy Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

69. Spain Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

70. Spain Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

71. Spain Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

72. Spain Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

73. Asia Pacific Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

74. Asia Pacific Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

75. Asia Pacific Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

76. Asia Pacific Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

77. Japan Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

78. Japan Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

79. Japan Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

80. Japan Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

81. China Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

82. China Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

83. China Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

84. China Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

85. India Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

86. India Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

87. India Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

88. India Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

89. South America Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

90. South America Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

91. South America Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion)

92. South America Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion)

93. Brazil Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

94. Brazil Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

95. Brazil Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

96. Brazil Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion)

97. Middle East and Africa Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

98. Middle East and Africa Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

99. Middle East and Africa Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

100. Middle East and Africa Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion)

101. UAE Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

102. UAE Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

103. UAE Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

104. UAE Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion)

105. South Africa Multi-Vendor Support Services Market, By Service Type, 2019-2032 (USD Billion) 

106. South Africa Multi-Vendor Support Services Market, By Organization Type, 2019-2032 (USD Billion) 

107. South Africa Multi-Vendor Support Services Market, By Application, 2019-2032 (USD Billion) 

108. South Africa Multi-Vendor Support Services Market, By Industry Vertical, 2019-2032 (USD Billion) 

List of Figures 

1. Global Multi-Vendor Support Services Market Segmentation

2. Multi-Vendor Support Services Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Multi-Vendor Support Services Market Attractiveness Analysis by Service Type

9. Global Multi-Vendor Support Services Market Attractiveness Analysis by Organization Type

10. Global Multi-Vendor Support Services Market Attractiveness Analysis by Application

11. Global Multi-Vendor Support Services Market Attractiveness Analysis by Industry Vertical

12. Global Multi-Vendor Support Services Market Attractiveness Analysis by Region

13. Global Multi-Vendor Support Services Market: Dynamics

14. Global Multi-Vendor Support Services Market Share by Service Type (2022 & 2032)

15. Global Multi-Vendor Support Services Market Share by Organization Type (2022 & 2032)

16. Global Multi-Vendor Support Services Market Share by Application (2022 & 2032)

17. Global Multi-Vendor Support Services Market Share by Industry Vertical (2022 & 2032)

18. Global Multi-Vendor Support Services Market Share by Regions (2022 & 2032)

19. Global Multi-Vendor Support Services Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global multi-vendor support services market based on below mentioned segments:

Global Multi-Vendor Support Services Market by Service Type:

  • Hardware
  • Software

Global Multi-Vendor Support Services Market by Organization Type:

  • Small and Medium Enterprises
  • Large Enterprises

Global Multi-Vendor Support Services Market by Application:

  • Financial and Accounting
  • Supply Chain
  • Sales and Marketing
  • Human Resource
  • IT Operations
  • Production
  • Research and Development
  • Legal Services
  • Others

Global Multi-Vendor Support Services Market by Industry Vertical:

  • BFSI
  • Retail and Consumer Goods
  • Travel and Logistics
  • Government and Defence
  • Energy and Utilities
  • Healthcare and Life Sciences
  • Manufacturing
  • Telecom and IT
  • Media and Entertainment
  • Automotive
  • Education
  • Building and Construction
  • Recreational Services
  • Others

Global Multi-Vendor Support Services Market by Region:

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

Methodology

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

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

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

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

MARKET RESEARCH PROCESS

Data Procurement:

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

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

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

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

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

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

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

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

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

The demand side for the market is estimated through:

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

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

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

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

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

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

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

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

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

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

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

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

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