Search

Artificial Spider Silk Market

Artificial Spider Silk Market Size by Technology (Genetically Modified Silkworm, Genetically Modified Yeast Formation, Genetically Modified Escherichia Coli Bacteria Fermentation and Others), Application (Healthcare, Defense, Textile, Automotive and Others), Sales Channel (B2B and B2C), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13430
  • Published Date: Apr, 2023
  • Pages: 237
  • Category: Chemicals & Materials
  • Format: PDF
Buy @ $4700.00 Request Sample PDF

The global artificial spider silk market was valued at USD 1.34 billion in 2022 and grew at a CAGR of 18.73% from 2023 to 2032. The market is expected to reach USD 7.45 billion by 2032. The growth of artificial spider silks in the textile, automotive, and defence industries can be attributed to their numerous benefits over conventional materials. In expansion, the growing need for artificial spider silks in healthcare fabric manufacturing is propelling the growth in the market.

Market Introduction:

Artificial spider silk has some pretty remarkable qualities. It is one of the most durable substances in nature, tougher than Kevlar and stronger than steel. It can be stretched numerous times beyond its breaking point. Materials scientists have been somewhat obsessed with simulating spider silk in the lab for decades. Although not nearly as strong as the strongest spider silk, the fibres are robust. More importantly, they can be manufactured at room temperature without chemical solvents. As a result, if they can be mass-produced, they will have the edge over other synthetic fibres like nylon, whose spinning calls for extraordinarily high temperatures. As the substance is biocompatible, it might be used for things like stitching inside the human body. Additionally, the artificial spider silk could be altered in various fascinating ways. Without harsh chemicals, the artificial spider silk protein NT2RepCT may be synthesized and spun into fibres.

Artificial Spider Silk Market Size

Get an overview of this study by requesting a free sample

Recent Development
  • In December 2021, a significant player, Kraig Biocraft Laboratories, announced manufacturing their new product line based on fourth-generation artificial silk. The U.S.-based company had expanded their operational capabilities and was even offering custom yarns made of the existing stock of artificial silk.
  • In October 2020, Spidey Tek Inc. developed a supercar, The Spidey, manufactured from SPIDEY, which is the proprietary artificial silk of the company. SPIDEY is lighter and more rigid as compared to steel.

Market Dynamics:

Drivers

Increasing use of artificial spider silk- Although its usage as a bioactive material in medication delivery and tissue regeneration are relatively new ideas, artificial spider silk is being investigated as an eco-friendly material that could revolutionize textiles, engineering, and aircraft production. Due to its characteristics, artificial silk can be utilized to create surgical sutures, artificial ligaments, and cell scaffolds for tissue repair. Manufacturers are now developing synthetic spider silk that has the same properties as natural spider silk, but can be used to replace the cellular matrix that human cells produce, speed up the development of new cells, and release antibiotics over time. Since ancient times, spider silk has been the most potent natural fibre in medical applications. It is known for its high vitamin K concentration and antibacterial qualities. These materials may represent the most comfortable and durable body armour and future parachute materials for military personnel. The material was created to be lighter than regular Kevlar, providing the wearer with more flexibility. In tests, the sticky substance absorbed the impact of being hit by bullets and halted them.

Restraints:

The fluctuating cost of raw materials- Raw materials for artificial spider silk manufacturers has recently increased by two to five per cent due to a substantial rise in crude oil costs. Raw material prices rise as demand rises, and the consequences reverberate throughout the supply chain. To safeguard their bottom lines, yarn and fibre manufacturers are making modifications while companies prepare to raise or have already raised prices.

Opportunities:

Increasing research in technical textiles- Technical textiles are textile items and materials utilized for their technical functionality and performance. The potential of the global textile industry, which includes technical textiles as a significant component, still needs to be realized. Technical textile is one of the fastest-growing industries and an essential source of revenue. Medical textiles, agro textiles, protective textiles, geotextiles, and automotive materials are all examples of technical textiles. The global market for technical textiles has a strong consumption and export demand, which is a major draw for businesses. The concerned agency in different regions is implementing the following schemes to develop and advertise the handloom sector across regions.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global artificial spider silk market, with a 33.10% market revenue share in 2022.

North American region will account for the largest market share with revenue growth. Nations such as U.S. and Canada have a tremendous demand for artificial spider silk among different end-users, which will expand the market enormously. Also, multiple key players in these countries will promote the artificial spider silks market growth.

North America Region Artificial Spider Silk Market Share in 2022 - 33.10%

 

www.thebrainyinsights.com

Check the geographical analysis of this market by requesting a free sample

  • In November 2018, a significant player, Kraig Biocraft Laboratories, had specially developed an engineered silkworm strain for U.S. defence textile applications. The company has supplied their inventory of artificial spider silk to the U.S. defence and military organizations.
Technology Segment Analysis

The technology segment is divided into genetically modified silkworms, genetically modified yeast formation, genetically modified Escherichia coli bacteria fermentation and others. The genetically modified Escherichia coli bacteria fermentation segment dominated the market, with a market share of around 31.92% in 2022. This technology helps to improve the quality of their product and provides highly dense artificial spider silk. Thus, many end-users demand artificial spider silk from genetically modified Escherichia coli bacteria fermentation.

Application Segment Analysis

The application segment is divided into healthcare, defence, textile, automotive and others. The automotive segment dominated the market, with a market share of around 43.92% in 2022. Artificial spider silk manufactures covers, airbags, seats, etc. The growth of the automobile industry has led to high demand for artificial spider silk.

Sales Channel Segment Analysis

The sales channel segment is divided into B2B and B2C. The B2B segment dominated the market, with a share of around 76.03% in 2022. Artificial spider silk is used in manufacturing different products for several applications. Business uses artificial spider silk for developing end-use products.

Some of the Key Market Players:
  • AM Silk GmbH
  • Kraig Biocraft Laboratories, Inc.
  • Bolt Threads Inc.
  • Spiber Inc.
  • Inspidere BV
  • Warwick Mills, Inc.
  • Seevix
  • EC Plaza
  • VF Corporation
  • Linder Spruhsysteme
  • Groupe Beaumanoir
  • Silvano Fashion Group

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 1.34 Billion
Market size value in 2032 USD 7.45 Billion
CAGR (2023 to 2032) 18.73%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments 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 Technology, Application and Sales Channel

Frequesntly Asked Questions

As per The Brainy Insights, the size of the artificial spider silk market was valued USD 1.34 billion in 2022 to USD 7.45 billion by 2032.

Global artificial spider silk market is growing at a CAGR of 18.73% during the forecast period 2023-2032.

North America region emerged as the largest market for the artificial spider silk.

The market's growth will be influenced by the growing use of artificial spider silk among different end-users.

The fluctuating cost of raw materials could hamper the market growth.

The increasing investment in automotive industry is providing huge opportunities to the market.

Key players are AM Silk GmbH, Kraig Biocraft Laboratories, Inc., Bolt Threads Inc., Spiber Inc., Inspidere BV, Warwick Mills, Inc., Seevix, EC Plaza, VF Corporation, Linder Spruhsysteme, Groupe Beaumanoir, Silvano Fashion Group., among others.

Get Your Report Customized

  • 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
Request for Customization

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 Technology
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By Sales Channel
          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 uses of artificial spider silk in different applications
    5.3. Restraints
          5.3.1. Fluctuating cost of raw materials
    5.4. Opportunities
          5.4.1. Increasing investment in automotive industry
    5.5. Challenges
          5.5.1. Availability of substitutes

6. Global Artificial Spider Silk Market Analysis and Forecast, By Technology
    6.1. Segment Overview
    6.2. Genetically Modified Silkworm
    6.3. Genetically Modified Yeast Formation
    6.4. Genetically Modified Escherichia Coli Bacteria Fermentation
    6.5. Others

7. Global Artificial Spider Silk Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Healthcare
    7.3. Defense
    7.4. Textile
    7.5. Automotive
    7.6. Others

8. Global Artificial Spider Silk Market Analysis and Forecast, By Sales Channel
    8.1. Segment Overview
    8.2. B2B
    8.3. B2C

9. Global Artificial Spider Silk 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 Artificial Spider Silk Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Artificial Spider Silk 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. AM Silk GmbH
          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. Kraig Biocraft Laboratories, Inc.
          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. Bolt Threads Inc.
          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. Spiber 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. Inspidere BV
          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. Warwick Mills, Inc.
          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. Seevix
          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. EC Plaza
          1.1.1. Business Overview
          1.1.2. Company Snapshot
          1.1.3. Company Market Share Analysis
          1.1.4. Company Product Portfolio
          1.1.5. Recent Developments
          1.1.6. SWOT Analysis
    11.9. VF Corporation
          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. Linder Spruhsysteme
          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
    11.11. Groupe Beaumanoir
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Silvano Fashion Group.
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis

List of Table

1. Global Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

2. Global Genetically Modified Silkworm, Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

3. Global Genetically Modified Yeast Formation, Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

4. Global Genetically Modified Escherichia Coli Bacteria Fermentation, Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

5. Global Others, Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

6. Global Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion) 

7. Global Healthcare, Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

8. Global Defense, Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

9. Global Textile, Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

10. Global Automotive Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

11. Global Others, Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

12. Global Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

13. Global B2B, Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

14. Global B2C, Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

15. Global Artificial Spider Silk Market, By Region, 2019-2032 (USD Billion) 

16. North America Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

17. North America Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion) 

18. North America Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion)

19. U.S. Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

20. U.S. Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion) 

21. U.S. Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

22. Canada Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

23. Canada Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion) 

24. Canada Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

25. Mexico Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

26. Mexico Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion)

27. Mexico Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

28. Europe Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

29. Europe Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion)

30. Europe Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion)

31. Germany Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

32. Germany Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion) 

33. Germany Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

34. France Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

35. France Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion)

36. France Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

37. U.K. Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

38. U.K. Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion)

39. U.K. Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

40. Italy Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

41. Italy Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion)

42. Italy Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

43. Spain Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

44. Spain Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion) 

45. Spain Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

46. Asia Pacific Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

47. Asia Pacific Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion) 

48. Asia Pacific Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

49. Japan Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

50. Japan Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion)

51. Japan Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion)

52. China Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

53. China Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion)

54. China Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

55. India Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

56. India Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion) 

57. India Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

58. South America Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

59. South America Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion) 

60. South America Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

61. Brazil Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

62. Brazil Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion) 

63. Brazil Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

64. Middle East and Africa Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

65. Middle East and Africa Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion)

66. Middle East and Africa Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

67. UAE Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

68. UAE Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion)

69. UAE Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

70. South Africa Artificial Spider Silk Market, By Technology, 2019-2032 (USD Billion) 

71. South Africa Artificial Spider Silk Market, By Application, 2019-2032 (USD Billion) 

72. South Africa Artificial Spider Silk Market, By Sales Channel, 2019-2032 (USD Billion) 

List of Figures 

1. Global Artificial Spider Silk Market Segmentation

2. Artificial Spider Silk 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 Artificial Spider Silk Market Attractiveness Analysis By Technology

9. Global Artificial Spider Silk Market Attractiveness Analysis By Application

10. Global Artificial Spider Silk Market Attractiveness Analysis By Sales Channel

11. Global Artificial Spider Silk Market Attractiveness Analysis By Region

12. Global Artificial Spider Silk Market: Dynamics

13. Global Artificial Spider Silk Market Share By Technology (2022 & 2032)

14. Global Artificial Spider Silk Market Share by Application (2022 & 2032)

15. Global Artificial Spider Silk Market Share by Sales Channel (2022 & 2032)

16. Global Artificial Spider Silk Market Share by Regions (2022 & 2032)

17. Global Artificial Spider Silk 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 artificial spider silk market based on below mentioned segments:

Global Artificial Spider Silk Market by Technology:

  • Genetically Modified Silkworm
  • Genetically Modified Yeast Formation
  • Genetically Modified Escherichia Coli Bacteria Fermentation
  • Others

Global Artificial Spider Silk Market by Application:

  • Healthcare
  • Defense
  • Textile
  • Automotive
  • Others

Global Artificial Spider Silk Market by Sales Channel:

  • B2B
  • B2C

Global Artificial Spider Silk 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.

Ask for customization Request Sample Speak to analyst Inquire before buying

Flexible Purchase Options

  • Chapters of your choice
  • Quantitative Information for Historical & Forecasted Data
  • Regional/Country Level Reports
Request for Special Pricing

Get in touch with us

+1-315-215-1633

sales@thebrainyinsights.com

Our Clients

Why choose us

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