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Automotive Night Vision System Market

Global Automotive Night Vision System Market Size By Technology Type (Far Infrared (FIR), Near Infrared (NIR)), By Display Type (Instrument Cluster, Navigation System, and HUD), By Component Type (Night Vision Camera, Sensor, Display Unit, Controlling Unit, and Other Components), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12790
  • Published Date: Oct, 2024
  • Pages: 232
  • Category: Automotive & Transportation
  • Format: PDF
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The global automotive night vision system market is expected to reach USD 10.22 billion by 2033, at a CAGR of 7.74% from 2024 to 2033. The Automotive night vision system market is growing owing to the increasing awareness of road safety and the rise in the sale of luxury cars. Growth in awareness regarding road safety by regulators and consumers has increased the demand for advanced safety systems, like night vision systems. These systems help improve road safety in poor visibility conditions. All these factors eventually drive the market.

Market Overview:

The Automotive night vision system is a setup that uses the thermographic camera, which is a device that creates images with the help of infrared radiation, like a regular camera that forms an image using visible light to intensify a driver's vision and get a distance view in poor weather or darkness beyond the reach of the vehicle's headlights. Usually, these systems are provided in certain premium vehicles as special equipment. This system is based on night vision devices (NVD), which generally signifies any technically enhanced optical device works in three modes- active illumination, image enhancement, and thermal imaging. The Automotive night vision system collaborates with NVDs such as Lidar, GPS, Radar, and infrared cameras, among others, to sense and identify objects. The Automotive night vision system is divided into two types- active and passive night vision systems. The active night vision system uses an infrared light source generated inside the car to illuminate the road with light not visible to humans. The passive night vision systems do not widely use the infrared light source; instead, they use the thermal radiation emitted by the thermographic camera objects.

Automotive Night Vision System Market Size

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Market Dynamics:

Drivers
  • The advanced safety features

The Automotive night vision system is regarded as an advanced safety system. The system increases the driver's visibility at night and is very helpful in foggy weather. This system has reduced the rate of automotive accidents, and both the drivers and passengers are safer than before. There is an increase in awareness about the safety of drivers and passengers by the government, so people prefer this safety method. The significant factor that is driving the market growth of the automotive night vision system is the increase in demand for advanced in-vehicle safety features such as the Advanced Driver Assistance System (ADAS) and increased vehicle production.

Restraints:
  • The lack of proper functioning in dense weather

The inability of the automotive night vision system to work appropriately in dense weather conditions and the lack of proper handling of the system are significant issues that are restraining the global automotive night vision system market during the forecast period. The system performance, to some extent, shows low vehicle detection rates. Another restraining factor of this system is that the system cannot display the images at an accurate time so that the drivers can circumvent the diversion from road traffic, hampering the market's growth.

Opportunities:
  • Coupling of the front lights and the night vision system to work efficiently

The front light systems in the vehicles also produce visibility to some range, so the manufacturers of this system are planning to combine the two methods to improve and make the system function more efficiently. This planning is expected to provide a lucrative opportunity for the automotive night vision system market to progress. Drivers now find relief in driving in foggy weather with better visibility than before; it was considered very dangerous to move on the roads on vehicles in harsh weather conditions.

Challenges:
  • High price and the pandemic outbreak

The major challenge that the automotive night vision system market faces in growing is the high cost of installing the system. The top market players in the automotive night vision system industry are trying to introduce more innovative products, but the price in the process seems to be very high. The equipment like the camera and other devices are costly, but even after that, the system is sometimes unable to work in bad weather conditions. After the Covid-19 outbreak and with the rise in economic crisis, the automotive night vision system manufacturing companies faced a considerable loss.

Segmentation Analysis:

The global automotive night vision system market has been segmented based on technology type, display type, component type, and regions.

  • The technology type segment is divided into far-infrared (FIR) and near-infrared (NIR). The far-infrared (FIR) segment dominated the market with a market share of around 57.54% in 2023. Far infrared technology works best during low light conditions as they provide infrared images from the camera, which drives the segment's growth.
  • The display type segment is divided into the instrument cluster, navigation system, and HUD. Over the forecast period, the HUD segment is expected to grow at the fastest CAGR of 9.21%. Head up display provides images to the driver directly on the windshield, ensuring that there is no distraction for the driver. The increasing demand for the HUD night vision system drives the segment's growth.
  • The component type segment is divided into a night vision camera, sensor, display unit, a controlling unit, and other components. In 2023, the sensor segment dominated the market with a market share of around 32.34%. Sensors help detect various objects and moving vehicles, including cycles in low light, which drives the segment's growth.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region emerged as the largest market for the global automotive night vision system market, with a 40.23% share of the market revenue in 2023.

Asia Pacific region currently dominates the automotive night vision system market as this region comprises some fastest-growing economies in the world, including China and India. The rising demand for heavy commercial vehicles and high-end luxury vehicles in this region propels the market's growth. China is a prominent leader in the automotive sector, which adds impetus to the market's growth. Along with this, the region also has the presence of significant market players, which adds to the growth of the automotive night vision system market in the Asia Pacific region.

Asia Pacific Region Automotive Night Vision System Market Share in 2023 - 40.23%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global automotive night vision system market industry.

List of Key Market Players:
  • Audi AG
  • Autoliv Inc
  • Bendix Commercial Vehicles Systems
  • Continental AG
  • Daimler AG
  • Delphi Automotive Plc.
  • DENSO CORPORATION
  • FLIR Systems, Inc.
  • Omron Corporation
  • Robert Bosch GmbH
Key Target Audience
  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global Automotive Night Vision System Market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2023 is considered the base year of the report. 2020, 2021 and 2022 are considered the historic years and 2024 to 2033 are the forecast years. The global automotive night vision system market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions, and countries catering to the global automotive night vision system market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of the automotive night vision systems based on technology type, display type, component type, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global automotive night vision system market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study for the company profiles of key organizations operating in the global automotive night vision system market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis to provide business-related data and information. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influence the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market-related driving factors, growth limitations (restraints), potential industry opportunities, significant trends, and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market-related i.e., global automotive night vision system market) are covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the automotive night vision system market was valued at USD 4.85 billion in 2023 to USD 10.22 billion by 2033.

The global automotive night vision systems market is growing at a CAGR of 7.74% during the forecast period 2024-2033.

The Asia Pacific emerged as the largest market for automotive night vision systems.

The market's growth will be influenced by the advanced safety features.

High price and the pandemic outbreak could hamper market growth.

Coupling of the front lights and the night vision system to work efficiently will provide huge opportunities to the market.

Key players are Audi AG, Autoliv Inc, Bendix Commercial Vehicles Systems, Continental AG, Daimler AG, Delphi Automotive Plc., DENSO CORPORATION, FLIR Systems, Inc., Omron Corporation, and Robert Bosch GmbH.

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  • Segmentation on the basis of any specific country or region
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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 Technology Type
          4.3.2. Market Attractiveness Analysis By Display Type
          4.3.3. Market Attractiveness Analysis By Component Type
          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. The advanced safety features
    5.3. Restraints
          5.3.1. The lack of proper functioning in dense weather
    5.4. Opportunities
          5.4.1. Coupling of the front lights and the night vision system to work efficiently
    5.5. Challenges
          5.5.1. High price and the pandemic outbreak

6. Global Automotive Night Vision System Market Analysis and Forecast, By Technology type
    6.1. Segment Overview
    6.2. Far Infrared (FIR)
    6.3. Near-Infrared (NIR)

7. Global Automotive Night Vision System Market Analysis and Forecast, By Display type
    7.1. Segment Overview
    7.2. Instrument Cluster
    7.3. Navigation System
    7.4. HUD

8. Global Automotive Night Vision System Market Analysis and Forecast, By Component Type
    8.1. Segment Overview
    8.2. Night Vision Camera
    8.3. Sensor
    8.4. Display Unit
    8.5. Controlling Unit
    8.6. Other Components

9. Global Automotive Night Vision System 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 Automotive Night Vision System Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Automotive Night Vision System 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. Audi AG
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Autoliv Inc
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Bendix Commercial Vehicles Systems
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Continental AG
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Daimler AG
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Delphi Automotive Plc.
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. DENSO CORPORATION
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. FLIR Systems, Inc.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Component Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Omron Corporation
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Component Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Robert Bosch GmbH
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Component Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
 

List of Table

1. Global Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

2. Global Far Infrared (FIR) Automotive Night Vision System Market, By Region, 2020-2033 (USD Billion) 

3. Global Near Infrared (NIR) Automotive Night Vision System Market, By Region, 2020-2033 (USD Billion) 

4. Global Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

5. Global Instrument Cluster Automotive Night Vision System Market, By Region, 2020-2033 (USD Billion)

6. Global Navigation System Automotive Night Vision System Market, By Region, 2020-2033 (USD Billion)

7. Global HUD Automotive Night Vision System Market, By Region, 2020-2033 (USD Billion) 

8. Global Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

9. Global Night Vision Camera Automotive Night Vision System Market, By Region, 2020-2033 (USD Billion) 

10. Global Sensor Automotive Night Vision System Market, By Region, 2020-2033 (USD Billion)

11. Global Display Unit Automotive Night Vision System Market, By Region, 2020-2033 (USD Billion)

12. Global Controlling Unit Automotive Night Vision System Market, By Region, 2020-2033 (USD Billion)

13. Global Other Component Automotive Night Vision System Market, By Region, 2020-2033 (USD Billion) 

14. Global Automotive Night Vision System Market, By Region, 2020-2033 (USD Billion)

15. North America Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

16. North America Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

17. North America Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

18. U.S. Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

19. U.S. Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

20. U.S. Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

21. Canada Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

22. Canada Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

23. Canada Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

24. Mexico Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

25. Mexico Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

26. Mexico Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

27. Europe Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

28. Europe Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

29. Europe Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

30. Germany Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

31. Germany Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

32. Germany Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

33. France Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

34. France Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

35. France Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

36. U.K. Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

37. U.K. Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

38. U.K. Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

39. Italy Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

40. Italy Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

41. Italy Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

42. Spain Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

43. Spain Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

44. Spain Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

45. Asia Pacific Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

46. Asia Pacific Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

47. Asia Pacific Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

48. Japan Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

49. Japan Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

50. Japan Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

51. China Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

52. China Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

53. China Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

54. India Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

55. India Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

56. India Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

57. South America Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

58. South America Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

59. South America Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

60. Brazil Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

61. Brazil Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

62. Brazil Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

63. Middle East and Africa Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

64. Middle East and Africa Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

65. Middle East and Africa Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

66. UAE Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

67. UAE Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

68. UAE Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

69. South Africa Automotive Night Vision System Market, By Technology Type, 2020-2033 (USD Billion) 

70. South Africa Automotive Night Vision System Market, By Display Type, 2020-2033 (USD Billion) 

71. South Africa Automotive Night Vision System Market, By Component Type, 2020-2033 (USD Billion) 

List of Figures 

1. Global Automotive Night Vision System Market Segmentation

2. Automotive Night Vision System 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 Automotive Night Vision System Market Attractiveness Analysis By Technology type 

9. Global Automotive Night Vision System Market Attractiveness Analysis By Display type 

10. Global Automotive Night Vision System Market Attractiveness Analysis By Component Type 

11. Global Automotive Night Vision System Market Attractiveness Analysis By Region

12. Global Automotive Night Vision System Market: Dynamics

13. Global Automotive Night Vision System Market Share by Technology Type  (2023 & 2033)

14. Global Automotive Night Vision System Market Share by Display Type  (2023 & 2033)

15. Global Automotive Night Vision System Market Share by Component Type (2023 & 2033)

16. Global Automotive Night Vision System Market Share by Regions (2023 & 2033)

17. Global Automotive Night Vision System Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global automotive night vision system market based on the below-mentioned segments:

Global Automotive Night Vision System Market by Technology Type:

  • Far Infrared (FIR)
  • Near-Infrared (NIR)

Global Automotive Night Vision System Market by Display Type:

  • Instrument Cluster
  • Navigation System
  • HUD

Global Automotive Night Vision System Market by Component Type:

  • Night Vision Camera
  • Sensor
  • Display Unit
  • Controlling Unit
  • Other Components

Global Automotive Night Vision System 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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