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360 Degree Camera Market

360 Degree Camera Market Size by Connectivity Type (Wireless, Wired), Resolution (Ultra-high Definition (UHD), High Definition (HD)), Vertical (Consumer, Travel & Tourism, Commercial, Media & Entertainment, Automotive, Military & Defense, Healthcare, Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13580
  • Published Date: Jul, 2023
  • Pages: 236
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global 360 degree camera market was valued at USD 1.84 billion in 2022, which is anticipated to grow at a CAGR of 23.94% from 2023 to 2032. In addition to standalone models and single cameras with several lenses, 360 degree cameras are also readily available. These models help with recording and automatically combining the content the device captures. The best part about using 360 degree cameras is how easy and affordable they are compared to other cameras. Compared to standalone and single cameras, camera rigs with numerous cameras are in charge of recording content in distinct ways. They cost more and are bulkier as a result. Sophisticated software will be necessary to combine the content. The wireless 360 degree camera can connect to cell phones via Wi-Fi or Bluetooth, just like the digital single-lens reflex (DSLR), action, and mirrorless cameras, making editing, transferring, post-processing, and publishing on social media easier and faster. Additionally, 360 degree cameras are favoured by vloggers and followers of extreme sports due to their endurance and capacity to capture a wider field of view. A significant factor driving expansion is the need for improved photographic solutions. 360 degree cameras are particularly good at producing high-resolution images, especially in low-light conditions, making them appropriate for professional use. The cost-effectiveness of 360 degree panoramic cameras offers the 360 degree camera market tremendous potential.

Market Introduction:

360 degree cameras and omnidirectional camera systems simultaneously record views in all directions. Such films typically use a single consumer camera or a setup with several different lenses. Using video editing software or the camera, all recorded videos are integrated into a single spherical piece. Multiple lenses are widely utilized in single/standalone 360 degree cameras to record and automatically integrate content. These cameras are more user-friendly and less expensive. Multiple cameras which record data independently make up 360 degree camera rigs, which are more expensive and larger than single cameras. Advanced software is typically needed to merge the footage after videos produced with these setups are produced. A compact, portable omnidirectional 360 degree camera can record a 360 degree field of view. The camera's body, lower and upper mirrors, aperture, glass housing, and cover are all included. Through the use of numerous wide-angle lenses placed in a circle, it works by capturing a whole scene in a single shot. In fields like panorama photography, robotics, movies, and vibrant images and videos, it is employed where large visual field coverage is necessary. It can also record stereoscopic and monoscopic videos to provide unique virtual reality (VR) experiences for marketing. Underwater, it can be used to provide practical information for both educational and entertainment purposes. To allow people to watch live games and concerts, it is frequently integrated with smartphone-based VR headsets and positioned all around sports and event arenas. It may also be wirelessly connected to smartphones, which facilitates and accelerates editing, transferring, post-processing, and publishing on various social networking platforms. A 360 degree camera is frequently used for surveillance indoors and out, enhancing security systems, tracking people's movements in residential and public spaces, and monitoring suspicious activity in huge areas. Due to the expanding adoption of virtual and augmented reality in video games and other interactive entertainment across the globe, the use of 360 degree cameras is rapidly developing. The 360 degree camera market is growing due to the increasing acceptance of immersive ads for showcasing a brand, location, and asset. Particularly on social media sites like Instagram, YouTube, and Facebook, this advertising helps businesses create a distinctive brand image. 360 degree cameras are used in robotics to solve simultaneous localization and mapping issues and for visual odometry, feature matching, and feature selection. Additionally, the widespread deployment of these cameras in various vehicles helps drivers enhance their awareness of their surroundings.

360 Degree Camera Market Size

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Recent Development
  • To give professional Insta360 Pro camera consumers more access and options in their post-production process, Insta360 established a partnership with Mistika VR, a recognized developer of stitching software solutions, in April 2018.
  • In March 2018, Rylo announced the introduction of the pocket-sized 360 degree camera. With these cameras offering a completely new user experience, the company hopes to establish a significant presence in the immersive video games market.
  • Mobile OverCapture, a feature of GoPro's Fusion 360 degree cameras, became accessible for iOS iPhones in January 2018. Using this tool, users can take multiple shots at reshooting a video.
  • Samsung Electronics introduced 360 Round, a new camera for creating and broadcasting high-quality 3D content, in October 2017 for professionals and enthusiasts seeking a better virtual reality (VR) experience. It offers a reliable and practical solution for viewing, recording, and editing VR content.
  • The American Hockey League's Tucson Roadrunners club teamed up with 360fly in July 2017 to provide their followers extraordinary 360 degree views in 4K resolution. In conjunction with free iOS and Android mobile software, 360fly camera material may be quickly shot, edited, and shared to well-known social media platforms like YouTube and Facebook.

Market Dynamics:

Drivers

Increased popularity of social networking platforms- A 360 degree camera can record the entire event for viewers. Users can readily acquire 360 degree cameras to record every angle of their surroundings. These cameras are affordable in price. It has the link between a camera and portable electronics. As more people choose to watch 4K and HDR videos, the demand for 360 degree cameras increases. Major social networking sites like Facebook and YouTube enable 360 degree camera footage. Due to this, users are motivated to produce and publish their own 360 degree videos on various social networking platforms.

Restraints:

Constant requirement of additional bandwidth- Organizations in the media, entertainment, and sports industries need high-resolution, high-quality monitoring continuously. Since 360 degree cameras, which can use up to four times as much bandwidth as conventional 2D films, have grown more common, 360 degree recordings have been more widely available. Watching 360 degree films at 4K resolution or higher will require additional bandwidth to provide viewers with an immersive and gratifying experience.

Opportunities:

Rising assistance needs in the automotive industry- 360 degree cameras are quickly gaining popularity in the automotive sector. Drivers can gain from improved environmental awareness, driving assistance, safety awareness, and security. These cameras record photographs from every aspect, and car screens show the images. Due to their dependability as collision or accident evidence, these are becoming increasingly common. Numerous models and sizes are available, each with unique advantages.

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 most significant global 360 degree camera market, with a 37.01% market revenue share in 2022. The availability of a significant number of manufacturers making standalone cameras and rigs, combined with the willingness of customers to embrace technologically advanced products, are the main factors boosting market expansion in North America. The rise of this region is also being fueled by the expansion of VR gaming and the rising popularity of VR headsets in the United States and other countries in the region. North America is further anticipated to develop strongly due to the high acceptance rate of innovative technologies and ongoing technological advancements in the consumer electronics sector.

North America Region 360 Degree Camera Market Share in 2022 - 37.01%

 

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Connectivity Type Segment Analysis

The connectivity type segment is divided into wireless and wired. The wired segment dominated, with a market share of around 56.18% in 2022. Wired cameras use cables to connect to a power source and the internet. The use of these cameras is common in picture studios.

Resolution Segment Analysis

The resolution segment is divided into Ultra-high Definition (UHD) and High Definition (HD). The High Definition (HD) segment dominated the market, with a market share of around 54.47% in 2022. The image on the screen can appear more precise because of the HD 360 degree camera's greater sharpness. High definition (HD) also has better motion and more vibrant, natural-looking colours as benefits.

Vertical Segment Analysis

The vertical segment is divided into consumer, travel & tourism, commercial, media & entertainment, automotive, military & defense, healthcare, and others. The consumer segment dominated the market, with a market share of around 14.38% in 2022. The use of 360 degree cameras is expanding in various applications, such as sports, photography, events, and festivals, highlighting the potential for business growth for these devices.

Some of the Key Market Players:
  • Samsung Electronics
  • Digital Domain Productions
  • Immervision
  • Xiaomi
  • 360fly
  • LG Electronics
  • GoPro
  • PONONO (Professional 360 GmbH)
  • Nikon
  • YI Technology

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 1.84 Billion
Market size value in 2032 USD 15.73 Billion
CAGR (2023 to 2032) 23.94%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Connectivity Type, Resolution, Vertical

Frequesntly Asked Questions

As per The Brainy Insights, the size of the 360 degree camera market was valued at USD 1.84 Billion in 2022 & USD 15.73 Billion by 2032.

Global 360 degree camera market is growing at a CAGR of 23.94% during the forecast period 2023-2032.

North America region emerged as the largest market for the 360 degree camera.

Increased popularity of social networking platforms is a significant driving factor for the growth of the 360 degree camera market.

Constant requirement of additional bandwidth is a significant restraining factor for the growth of the 360 degree camera market.

Rising assistance needs in the automotive industry is a significant opportunity for the growth of the 360 degree camera market.

Key players are Samsung Electronics, Digital Domain Productions, Immervision, Xiaomi, 360fly, LG Electronics, GoPro, PONONO (Professional 360 GmbH), Nikon, YI Technology, among others.

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

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Connectivity Type
          4.3.2. Market Attractiveness Analysis By Resolution
          4.3.3. Market Attractiveness Analysis By Vertical
          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. Increased popularity of social networking platforms
    5.3. Restraints
          5.3.1. Constant requirement of additional bandwidth
    5.4. Opportunities
          5.4.1. Rising assistance needs in the automotive industry

6. Global 360 Degree Camera Market Analysis and Forecast, By Connectivity Type
    6.1. Segment Overview
    6.2. Wireless
    6.3. Wired

7. Global 360 Degree Camera Market Analysis and Forecast, By Resolution
    7.1. Segment Overview
    7.2. Ultra-high Definition (UHD)
    7.3. High Definition (HD)

8. Global 360 Degree Camera Market Analysis and Forecast, By Vertical
    8.1. Segment Overview
    8.2. Consumer
    8.3. Travel & Tourism
    8.4. Commercial
    8.5. Media & Entertainment
    8.6. Automotive
    8.7. Military & Defense
    8.8. Healthcare
    8.9. Others

9. Global 360 Degree Camera 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 360 Degree Camera Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the 360 Degree Camera 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. Samsung Electronics
          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. Digital Domain Productions
          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. Immervision
          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. Xiaomi
          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. 360fly
          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. LG Electronics
          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. GoPro
          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. PONONO (Professional 360 GmbH)
          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. Nikon
          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. YI 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 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

2. Global Wireless, 360 Degree Camera Market, By Region, 2019-2032 (USD Billion) 

3. Global Wired, 360 Degree Camera Market, By Region, 2019-2032 (USD Billion)

4. Global 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

5. Global Ultra-high Definition (UHD), 360 Degree Camera Market, By Region, 2019-2032 (USD Billion) 

6. Global High Definition (HD), 360 Degree Camera Market, By Region, 2019-2032 (USD Billion)

7. Global 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion) 

8. Global Consumer, 360 Degree Camera Market, By Region, 2019-2032 (USD Billion) 

9. Global Travel & Tourism, 360 Degree Camera Market, By Region, 2019-2032 (USD Billion)

10. Global Commercial, 360 Degree Camera Market, By Region, 2019-2032 (USD Billion) 

11. Global Media & Entertainment, 360 Degree Camera Market, By Region, 2019-2032 (USD Billion)

12. Global Automotive, 360 Degree Camera Market, By Region, 2019-2032 (USD Billion) 

13. Global Military & Defense, 360 Degree Camera Market, By Region, 2019-2032 (USD Billion)

14. Global Healthcare, 360 Degree Camera Market, By Region, 2019-2032 (USD Billion) 

15. Global Others, 360 Degree Camera Market, By Region, 2019-2032 (USD Billion)

16. Global 360 Degree Camera Market, By Region, 2019-2032 (USD Billion) 

17. North America 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

18. North America 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion)

19. North America 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion) 

20. U.S. 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

21. U.S. 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

22. U.S. 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

23. Canada 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

24. Canada 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

25. Canada 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

26. Mexico 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

27. Mexico 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

28. Mexico 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

29. Europe 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

30. Europe 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

31. Europe 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

32. Germany 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

33. Germany 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

34. Germany 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

35. France 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

36. France 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

37. France 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

38. U.K. 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

39. U.K. 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

40. U.K. 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

41. Italy 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

42. Italy 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

43. Italy 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

44. Spain 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

45. Spain 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

46. Spain 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

47. Asia Pacific 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

48. Asia Pacific 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

49. Asia Pacific 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

50. Japan 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

51. Japan 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

52. Japan 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

53. China 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

54. China 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

55. China 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

56. India 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

57. India 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

58. India 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

59. South America 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

60. South America 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

61. South America 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

62. Brazil 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

63. Brazil 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

64. Brazil 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

65. Middle East and Africa 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

66. Middle East and Africa 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

67. Middle East and Africa 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

68. UAE 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

69. UAE 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

70. UAE 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

71. South Africa 360 Degree Camera Market, By Connectivity Type, 2019-2032 (USD Billion) 

72. South Africa 360 Degree Camera Market, By Resolution, 2019-2032 (USD Billion) 

73. South Africa 360 Degree Camera Market, By Vertical, 2019-2032 (USD Billion)

List of Figures 

1. Global 360 Degree Camera Market Segmentation

2. 360 Degree Camera 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 360 Degree Camera Market Attractiveness Analysis By Connectivity Type

9. Global 360 Degree Camera Market Attractiveness Analysis By Resolution

10. Global 360 Degree Camera Market Attractiveness Analysis By Vertical

11. Global 360 Degree Camera Market Attractiveness Analysis By Region

12. Global 360 Degree Camera Market: Dynamics

13. Global 360 Degree Camera Market Share by Connectivity Type (2023 & 2032)

14. Global 360 Degree Camera Market Share by Resolution (2023 & 2032)

15. Global 360 Degree Camera Market Share by Vertical (2023 & 2032)

16. Global 360 Degree Camera Market Share by Regions (2023 & 2032)

17. Global 360 Degree Camera 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 360 degree camera market based on below mentioned segments:

Global 360 Degree Camera by Connectivity Type:

  • Wireless
  • Wired

Global 360 Degree Camera by Resolution:

  • Ultra-high Definition (UHD)
  • High Definition (HD)

Global 360 Degree Camera by Vertical:

  • Consumer
  • Travel & Tourism
  • Commercial
  • Media & Entertainment
  • Automotive
  • Military & Defense
  • Healthcare
  • Others

Global 360 Degree Camera 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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