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Radio Frequency Identification Technology (RFID) Market

Radio Frequency Identification Technology (RFID) Market Trends & Growth Analysis – Latest Insights

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12743
  • Published Date: Apr, 2022
  • Pages: 235
  • Category: Information Technology & Semiconductors
  • Format: PDF
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Market Dynamics

Drivers

  • Increasing demand for automation in manufacturing

Industrialization 4.0 is the rapid advancement of technologies across sectors, the increasing adoption of artificial intelligence, cloud computing, the internet of things, cyber-physical systems & data analytics. Industrialization 4.0 is about digitization, automation & integration of technologies across sectors. The rising population has increased consumer demand in the market, which needs to be fulfilled by increasing production volumes in manufacturing industries. The utilization of RFIT in the manufacturing industry can enhance production efficiency by providing real-time asset management and enhanced control of operations, saving time and money. RFID ensures optimal use of resources, reducing operational costs and increasing profits. The use of radio frequency identification technology (RFID) enables timely delivery of quality products and provides computerized control of the flow of goods. The sensors used for tracking articles offer real-time information about the inventory. The simple design utilizes lesser space facilitating an improvement in production efficiency. The previously mentioned benefits have contributed to the rising adoption of RFIT in the manufacturing industry, which is anticipated to drive the market in the forecast period. 

Restraints

  • High capital expenditure

Radiofrequency identification technology (RFID) market growth would be hampered by the extensive capital expenditure required in its initial installation. The smart sensor controls utilized with the help of the internet of things are expensive to repair, adding costs to the working capital. Alternative options like bar codes are much cheaper. The availability of a more affordable and reasonably efficient substitute can restrain the growth of the RFIT market.

Opportunities

  • The growing applications of RFIT across industries

The advancement in RFIT technologies is finding use in diverse industries. The healthcare industry is using RFID to manage their medical supplies, and locating the pandemic propelled the market's growth as RFIT allowed remote asset management and inventory tracking as social distancing had to be followed. Automation in hospital premises ensures the safety of medications with its controlled access features. Similarly, the accuracy, reliability, real-time monitoring, minimal human intervention, and security features of RFIT have allowed it to be used in e-commerce, banking & financial services, aerospace, defense, and many other industries.

Challenges

  • Data privacy & security issues

Radiofrequency identification technology (RFID) is vulnerable to unauthorized access, clone tagging, and other electronic attacks. The information theft associated with unauthorized access and reading of tags will leave individuals or organizations susceptible to fraud. 

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
  • Customers can be added on the basis of regions and countries
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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 Product Type
          4.3.2. Market Attractiveness Analysis by Frequency Type
          4.3.3. Market Attractiveness Analysis by End User
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing demand for automation in manufacturing
    5.3. Restraints
          5.3.1. High capital expenditure
    5.4. Opportunities
          5.4.1. The growing applications of RFIT across industries
    5.5. Challenges
          5.5.1. Data privacy and security issues

6. Global Radio Frequency Identification Technology (RFIT) Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Readers
    6.3. Tags
    6.4. Middleware & Software

7. Global Radio Frequency Identification Technology (RFIT) Market Analysis and Forecast, By Frequency Type
    7.1. Segment Overview
    7.2. Ultra-High Frequency
    7.3. High Frequency
    7.4. Low Frequency
    7.5. Microwave Frequency

8. Global Radio Frequency Identification Technology (RFIT) Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Retail
    8.3. Government
    8.4. Education
    8.5. Healthcare
    8.6. Transportation
    8.7. Industrial
    8.8. Others

9. Global Radio Frequency Identification Technology (RFIT) 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 Radio Frequency Identification Technology (RFIT) Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Radio Frequency Identification Technology (RFIT) 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. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Honeywell International Inc.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Alien Technology
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. STANLEY Healthcare
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Impinj Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Motorola Solutions Inc.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. GAO RFID
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Zebra Technologies
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Siemens
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Checkpoint Systems Inc.
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Savi Technology
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
 

List of Table

1. Global Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

2. Global Readers Radio Frequency Identification Technology (RFIT) Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

3. Global Tags Radio Frequency Identification Technology (RFIT) Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

4. Global Middleware & Software Radio Frequency Identification Technology (RFIT) Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

5. Global Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

6. Global Ultra-High Frequency Radio Frequency Identification Technology (RFIT) Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

7. Global High Frequency Radio Frequency Identification Technology (RFIT) Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

8. Global Low Frequency Radio Frequency Identification Technology (RFIT) Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

9. Global Microwave Frequency Radio Frequency Identification Technology (RFIT) Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

10. Global Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

11. Global Retail Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

12. Global Government Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

13. Global Education Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

14. Global Healthcare Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

15. Global Transportation Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

16. Global Industrial Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

17. Global Others Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

18. Global Radio Frequency Identification Technology (RFIT) Market, By Region, 2019-2030 (USD Billion) 

19. North America Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

20. North America Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

21. North America Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

22. U.S. Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

23. U.S. Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

24. U.S. Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

25. Canada Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

26. Canada Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

27. Canada Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

28. Mexico Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

29. Mexico Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

30. Mexico Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

31. Europe Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

32. Europe Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

33. Europe Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

34. Germany Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

35. Germany Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

36. Germany Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

37. France Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

38. France Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

39. France Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

40. U.K. Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

41. U.K. Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

42. U.K. Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

43. Italy Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

44. Italy Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

45. Italy Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

46. Spain Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

47. Spain Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

48. Spain Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

49. Asia Pacific Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

50. Asia Pacific Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

51. Asia Pacific Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

52. Japan Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

53. Japan Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

54. Japan Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

55. China Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

56. China Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

57. China Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

58. India Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

59. India Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

60. India Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

61. South America Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

62. South America Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

63. South America Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

64. Brazil Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

65. Brazil Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

66. Brazil Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

67. Middle East and Africa Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

68. Middle East and Africa Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

69. Middle East and Africa Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

70. UAE Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

71. UAE Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

72. UAE Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

73. South Africa Radio Frequency Identification Technology (RFIT) Market, By Product Type, 2019-2030 (USD Billion) 

74. South Africa Radio Frequency Identification Technology (RFIT) Market, By Frequency Type, 2019-2030 (USD Billion) 

75. South Africa Radio Frequency Identification Technology (RFIT) Market, By End User, 2019-2030 (USD Billion) 

List of Figures 

1. Global Radio Frequency Identification Technology (RFIT) Market Segmentation

2. Radio Frequency Identification Technology (RFIT) 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 Radio Frequency Identification Technology (RFIT) Market Attractiveness Analysis by Product Type

9. Global Radio Frequency Identification Technology (RFIT) Market Attractiveness Analysis by Frequency Type

10. Global Radio Frequency Identification Technology (RFIT) Market Attractiveness Analysis by End User

11. Global Radio Frequency Identification Technology (RFIT) Market Attractiveness Analysis by Region

12. Global Radio Frequency Identification Technology (RFIT) Market: Dynamics

13. Global Radio Frequency Identification Technology (RFIT) Market Share by Product Type (2022 & 2030)

14. Global Radio Frequency Identification Technology (RFIT) Market Share by Frequency Type (2022 & 2030)

15. Global Radio Frequency Identification Technology (RFIT) Market Share by End User (2022 & 2030)

16. Global Radio Frequency Identification Technology (RFIT) Market Share by Regions (2022 & 2030)

17. Global Radio Frequency Identification Technology (RFIT) Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global radio frequency identification technology (RFID) market based on below mentioned segments:

Global Radio Frequency Identification Technology (RFID) Market by Product Type:

  • Readers
  • Tags
  • Middleware & Software 

Global Radio Frequency Identification Technology (RFID) Market by Frequency Type:

  • Ultra-High Frequency
  • High Frequency
  • Low Frequency
  • Microwave Frequency

Global Radio Frequency Identification Technology (RFID) Market by End User:

  • Retail
  • Government
  • Education
  • Healthcare
  • Transportation
  • Industrial
  • Others

Global Radio Frequency Identification Technology (RFID) 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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