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Third-party risk management Market

Third-Party Risk Management Market Trends & Growth Analysis – Latest Insights

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12977
  • Published Date: Oct, 2022
  • Pages: 236
  • Category: Information Technology & Semiconductors
  • Format: PDF
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Market Dynamics

Drivers

The rising instances of cyber-attacks and frauds in digital financial services - The adoption of smart technologies, given the increased internet penetration, has increased the popularity of digital financial services like mobile banking and digital payments. Such popularity of digital services is creating a need for businesses to adopt and integrate advanced technologies into their services. However, with the increase in digital payment services in the BFSI sector, the risks of cyber-attack and fraud have witnessed an equal rise. The stakeholders in the BFSI sector are investing heavily to safeguard their clients from such incidents. Third-party risk management is preferred in the BFSI sector, given the involvement of multiple partners and other vendors who have access to sensitive information. The optimization of resources to safeguard the interests of millions of users of digital financial services will drive the growth of the third-party risk management market. 

The growing digitization of businesses - The growing automation and digitization of industries has increased the instances of breaches of data privacy and security. Increasing digitization is accompanied by the involvement of multiple stakeholders in the market, which contributes to rising concerns about safety and security. The third-party risk management market would be driven by the increasing involvement of several third parties and their subsequent risks.

Restraints

High capital expenditure – Third-party risk management involves several resources and personnel who are experts in identifying and mitigating risks. Furthermore, the dedicated services to perform the sole risk management function for extensive companies or entities require significant capital expenditures. The resources utilized for third-party are expensive and can hamper the market's growth.

Opportunities

New advanced technologies, systems, processes, and devices - The increasing demands for new features that provide remote assessments, pragmatic and dynamic results, and flexible integration with enterprise services have led to advancement in risk assessment systems, processes, and technologies. Such advanced technologies allow customization according to the needs of the enterprise. New advances have also reduced the cost of these products, enabling the market's expansion; small and medium enterprises will drive this market expansion.

Challenges

Lack of skilled professionals - Risk assessment operation requires a defined set of skills vital for evaluating any company/entity. The complex nature of the process, systems, and devices needs skilled personnel to operate them. The dearth of qualified professionals can hamper the growth of the market.

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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 Component
          4.3.2. Market Attractiveness Analysis by Vertical
          4.3.3. Market Attractiveness Analysis by Deployment Type
          4.3.4. Market Attractiveness Analysis by Organization Size
          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 rising instances of cyber-attacks and frauds in digital financial services
          5.2.2. The growing digitization of businesses
    5.3. Restraints
          5.3.1. High capital expenditure
    5.4. Opportunities
          5.4.1. New advanced technologies, systems, process and devices
    5.5. Challenges
          5.5.1. Lack of skilled professionals

6. Global Third-Party Risk Management Market Analysis and Forecast, By Component
    6.1. Segment Overview
    6.2. Services
    6.3. Solutions

7. Global Third-Party Risk Management Market Analysis and Forecast, By Vertical
    7.1. Segment Overview
    7.2. BFSI
    7.3. Healthcare & Life Sciences
    7.4. Retail & Consumers Goods
    7.5. Energy & Utilities
    7.6. IT & Telecom
    7.7. Government & Defense
    7.8. Manufacturing
    7.9. Others

8. Global Third-Party Risk Management Market Analysis and Forecast, By Deployment Type
    8.1. Segment Overview
    8.2. Cloud
    8.3. On-Premises

9. Global Third-Party Risk Management Market Analysis and Forecast, By Organization Size
    9.1. Segment Overview
    9.2. Large Enterprises
    9.3. Small & Medium Enterprises

10. Global Third-Party Risk Management 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 Third-Party Risk Management Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Third-Party Risk Management 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. Aravo Solutions 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. BitSight Technologies Inc.
          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. Deloitte
          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. Ernst & Young LLP
          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. Genpact
          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. KPGM
          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. MetricStream
          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. NAVEX Global Inc.
          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. Resolver Inc.
          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. RSA
          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 Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

2. Global Services Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

3. Global Solutions Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

4. Global Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

5. Global BFSI Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

6. Global Healthcare & Life Sciences Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

7. Global Retail & Consumers Goods Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

8. Global Energy & Utilities Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

9. Global IT & Telecom Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

10. Global Government & Defense Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

11. Global Manufacturing Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

12. Global Others Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

13. Global Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

14. Global Cloud Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

15. Global On-Premises Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

16. Global Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

17. Global Large Enterprises Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

18. Global Small & Medium Enterprises Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

19. Global Third-Party Risk Management Market, By Region, 2019-2030 (USD Billion) 

20. North America Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

21. North America Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

22. North America Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

23. North America Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

24. U.S. Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

25. U.S. Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

26. U.S. Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

27. U.S. Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

28. Canada Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

29. Canada Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

30. Canada Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

31. Canada Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

32. Mexico Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

33. Mexico Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

34. Mexico Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

35. Mexico Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

36. Europe Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

37. Europe Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

38. Europe Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

39. Europe Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

40. Germany Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

41. Germany Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

42. Germany Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

43. Germany Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

44. France Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

45. France Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

46. France Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

47. France Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

48. U.K. Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

49. U.K. Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

50. U.K. Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

51. U.K. Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

52. Italy Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

53. Italy Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

54. Italy Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

55. Italy Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

56. Spain Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

57. Spain Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

58. Spain Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

59. Spain Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

60. Asia Pacific Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

61. Asia Pacific Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

62. Asia Pacific Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

63. Asia Pacific Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

64. Japan Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

65. Japan Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

66. Japan Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

67. Japan Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

68. China Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

69. China Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

70. China Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

71. China Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

72. India Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

73. India Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

74. India Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

75. India Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

76. South America Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

77. South America Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

78. South America Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion)

79. South America Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion)

80. Brazil Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

81. Brazil Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

82. Brazil Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

83. Brazil Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion)

84. Middle East and Africa Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

85. Middle East and Africa Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

86. Middle East and Africa Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

87. Middle East and Africa Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion)

88. UAE Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

89. UAE Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

90. UAE Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

91. UAE Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion)

92. South Africa Third-Party Risk Management Market, By Component, 2019-2030 (USD Billion) 

93. South Africa Third-Party Risk Management Market, By Vertical, 2019-2030 (USD Billion) 

94. South Africa Third-Party Risk Management Market, By Deployment Type, 2019-2030 (USD Billion) 

95. South Africa Third-Party Risk Management Market, By Organization Size, 2019-2030 (USD Billion) 

List of Figures 

1. Global Third-Party Risk Management Market Segmentation

2. Third-Party Risk Management Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Third-Party Risk Management Market Attractiveness Analysis by Component

9. Global Third-Party Risk Management Market Attractiveness Analysis by Vertical

10. Global Third-Party Risk Management Market Attractiveness Analysis by Deployment Type

11. Global Third-Party Risk Management Market Attractiveness Analysis by Organization Size

12. Global Third-Party Risk Management Market Attractiveness Analysis by Region

13. Global Third-Party Risk Management Market: Dynamics

14. Global Third-Party Risk Management Market Share by Component (2022 & 2030)

15. Global Third-Party Risk Management Market Share by Vertical (2022 & 2030)

16. Global Third-Party Risk Management Market Share by Deployment Type (2022 & 2030)

17. Global Third-Party Risk Management Market Share by Organization Size (2022 & 2030)

18. Global Third-Party Risk Management Market Share by Regions (2022 & 2030)

19. Global Third-Party Risk Management 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 third-party risk management market based on below mentioned segments:

Third-Party Risk Management Market by Component:

  • Services
  • Solutions

Third-Party Risk Management Market by Vertical:

  • BFSI
  • Healthcare & Life Sciences
  • Retail & Consumers Goods
  • Energy & Utilities
  • IT & Telecom
  • Government & Defense
  • Manufacturing
  • Others

Third-Party Risk Management Market by Deployment Type:

  • Cloud
  • On-Premises

Third-Party Risk Management Market by Organization Size:

  • Large Enterprises
  • Small & Medium Enterprises

Third-Party Risk Management 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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ProactiveWe manage our resources 24/7 to identify issues and address them before they become problems

Quality & ReliabilityWe are committed to providing reliable and highly accurate data with an excellent quality control system

Global Outreach6 Major regions and 40+ countries level analysis accomplished

Competitive PricingOur pricing strategy is highly competitive in the market, without compensating on the quality and the timeline of project delivery

Some Facts About The Brainy Insights

50%

Free Customization

300+

Fortune 500 Clients

1

Free Yearly Update On Purchase Of Multi/Corporate License

900+

Companies Served Till Date