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Digital Marketing Software Market

Global Digital Marketing Software Market Size By Solution (CRM Software, Marketing Automation, Social Media), By Deployment (On-Premise, Cloud), By Enterprise Size (Large Enterprise, Small and Medium Enterprise), Regions, Global Industry Analysis, By End-use, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12800
  • Published Date: Jun, 2022
  • Pages: 238
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global digital marketing software market is expected to reach USD 265.2 billion by 2030, at a CAGR of 17.4% from 2021 to 2030. The outbreak of the Covid-19 pandemic changed the way people used different apps and software, which is expected to drive the growth of the digital marketing software market over the forecast period.

Market Overview:

Digital marketing software is an application that helps generate analytics and reports, target audiences, create landing pages, and perform all promotion techniques. These are online marketing software. As the world is shifting from traditional marketing ways towards digitization, the old methods are becoming out-of-date, so new enterprise sizes are required for the new process. With the changing pace of the world, the business field is also developing. Digital marketing is helping businesses to sell out products in a more convenient way. It means marketing products, goods, or services using any digital or electronic media platform. Digital marketing software is needed to simplify most of the work and focus more on the needs of the user. Various tools and services like search marketing, email marketing, campaign management, etc., are some valuable factors that are responsible for the expansion of the market for better results. The most common uses of software digital marketing include content marketing, content management, social media, automation, and community building. These applications are used according to the scope and requirements of the business.

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Market Dynamics:

Drivers:
  • The increasing demand for digitization and the use of smartphones.

The increasing digitization and rise in internet penetration rate are significant factors driving the market's growth. The booming social media and advertising industry, paired with other factors, increase the market growth of this sector. The increasing number of smartphones has triggered the consumption of digital media. It is suggesting online marketers create more online ads on social media and other digital platforms such as Google listings to have more views and advertisements. The digital marketing software also enhances the relationships and interactions with customers, which helps to understand the customer demand in a better way and work accordingly.

Restraints:
  • Data security and privacy concerns.

Data security and privacy is a significant concern that needs to be kept in mind while planning any strategy. With the increase in IoT and cloud utilization, companies require a more secure system to keep the data private. Security problems such as the hijacking of accounts, internal threats, malware injections, insecure enterprise size Programming Interfaces (API), and data loss are prevalent in this cloud-based DMS. Companies have large databases stored in their systems, and any cyber-attack can be a significant loss. All these factors are some of the restraining forces in the digital marketing software market growth.

Opportunities:
  • The emerging online platform after the Covid-19 outbreak

The Covid-19 impact has a positive effect on the digital marketing software industry. Due to the outbreak of the pandemic and other government lockdown impositions, there is a significant rise in demand for online shopping and entertainment services. As a result, this provides scope for many large companies to shift towards the e-commerce platform to sell their products online and adopt the various digital marketing plans such as search engine optimization and Google AdWords to promote and advertise their goods and services across the world. The advanced marketing capabilities of the software and the increasing demand for artificial intelligence provides opportunities for the market's growth.

Challenges:
  • Integration of DMS tools with other business enterprise sizes.

Budget constraints are a factor that does not allow start-ups or small companies to start with this technology. Integration is a factor that is hindering the growth of the market. Integration is a significant factor that describes the software users, and the purchaser’s choice is mainly based on the integration ability of the software with their enterprise size. The digital marketing software tools sometimes create compatibility issues with other business enterprise size and poses a challenge for the growth of the digital marketing software market. The security and privacy issues related to storing personal and confidential databases in the systems are a significant challenge to the market’s growth.

Segmentation Analysis:

The global digital marketing software market has been segmented based on solution, deployment, enterprise size, and regions.

  • The solution segment is divided into CRM software, marketing automation, and social media. The CRM software segment dominated the market, with a market share of around 39.3% in 2021. Businesses are increasingly using CRM software to communicate with their customers efficiently. CRM software is widely used to convert customer data into insightful content, which fuels the market's growth.
  • The deployment segment is divided into on-premise and cloud. Over the forecast period, the cloud-based deployment segment is expected to grow at the fastest CAGR of 19.8%. Cloud-based deployment allows businesses to customize services and products on a large scale. Cloud-based deployment adds flexibility which drives the growth of the segment.
  • The enterprise size segment is divided into large and medium enterprises. In 2021, the large enterprise segment dominated the market, accounting for around 58% of global revenue. Large enterprises increasingly use digital marketing software to manage their information, such as social media platforms, websites, and emails. The increasing usage of digital marketing software in large enterprises drives the market's growth.
Regional Segmentation Analysis:

The regions analyzed for the digital marketing software market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global digital marketing software market, with a 42.2% share of the market revenue in 2021.

North America currently dominates the digital marketing software market with a 42.2% share of the market revenue in 2021. The growth of the market in this region can be attributed to prominent market players and a larger target audience that can help endorse their content and market their products and services online among the target audience. The increasing preference for online shopping among consumers is also expected to drive the market’s growth.

North America region Digital Marketing Software Market Share in 2021 - 42.2%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new enterprise sizes, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global digital marketing software market industry.

List of Key Market Players:

  • Adobe Systems Inc.
  • Google Corporation
  • Hewlett Packard Enterprise Development LP
  • HubSpot, Inc.
  • IBM Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Salesforce Inc.
  • SAP SE
  • SAS Institute Inc.

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 Digital Marketing Software Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered the base year of the report. 2019 and 2020 are considered as the historic years and 2022 to 2030 are the forecast years. The global digital marketing software 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 digital marketing software 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 digital marketing software based on solution, deployment, enterprise size, 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 digital marketing software 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 digital marketing software market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development &amp, 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 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 influences 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 digital marketing software 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 digital marketing software market was valued at USD 62.6 billion in 2021 to USD 265.2 billion by 2030.

The global digital marketing software market is growing at a CAGR of 17.4% during the forecast period 2022-2030.

The global digital marketing software market has been segmented based on solution, deployment, enterprise size, and regions. The CRM Software segment led the market in 2021.

The North American region emerged as the largest market for digital marketing software.

The market's growth will be influenced by the increasing demand for digitization and the use of smartphones.

Data security and privacy concerns could hamper market growth.

The emerging online platform after the Covid-19 outbreak will provide huge opportunities to the market.

Key players are Adobe Systems Inc., Google Corporation, Hewlett Packard Enterprise Development LP, HubSpot, Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Salesforce Inc., SAP SE, and SAS Institute Inc.

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
  • Customers can be added on the basis of regions and countries
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Solution
          4.3.2. Market Attractiveness Analysis By Deployment
          4.3.3. Market Attractiveness Analysis By Enterprise Size
          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 increasing demand for digitization and the use of smartphones
    5.3. Restraints
          5.3.1. Data security and privacy concerns
    5.4. Opportunities
          5.4.1. The emerging online platform after the Covid-19 outbreak
    5.5. Challenges
          5.5.1. Integration of DMS tools with other business enterprise sizes

6. Global Digital Marketing Software Market Analysis and Forecast, By Solution
    6.1. Segment Overview
    6.2. CRM Software
    6.3. Marketing Automation
    6.4. Social Media

7. Global Digital Marketing Software Market Analysis and Forecast, By Deployment
    7.1. Segment Overview
    7.2. On-Premise
    7.3. Cloud

8. Global Digital Marketing Software Market Analysis and Forecast, By Enterprise Size
    8.1. Segment Overview
    8.2. Large Enterprise
    8.3. Small and Medium Enterprise

9. Global Digital Marketing Software 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 Digital Marketing Software Market-Competitive Landscape
    10.1. Overview
          10.1.1. Market Share of Key Players in the Digital Marketing Software Market
          10.1.2. Global Company Market Share
          10.1.3. North America Company Market Share
          10.1.4. Europe Company Market Share
          10.1.5. APAC Company Market Share
    10.2. Competitive Situations and Trends
          10.2.1. Product Launches and Developments
          10.2.2. Partnerships, Collaborations, and Agreements
          10.2.3. Mergers & Acquisitions
          10.2.4. Expansions

11. Company Profiles
    11.1. Adobe Systems Inc.
          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. Google Corporation
          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. Hewlett Packard Enterprise Development LP
          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. HubSpot, Inc.
          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. IBM Corporation
          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. Microsoft Corporation
          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. Oracle 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. Salesforce 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. SAP SE
          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. SAS Institute Inc.
          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 Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

2. Global CRM Software Digital Marketing Software Market, By Region, 2019-2030 (USD Billion) 

3. Global Marketing Automation Digital Marketing Software Market, By Region, 2019-2030 (USD Billion)

4. Global Social Media Digital Marketing Software Market, By Region, 2019-2030 (USD Billion)

5. Global Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

6. Global On-Premise Digital Marketing Software Market, By Region, 2019-2030 (USD Billion) 

7. Global Cloud Digital Marketing Software Market, By Region, 2019-2030 (USD Billion) 

8. Global Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

9. Global Large Enterprise Digital Marketing Software Market, By Region, 2019-2030 (USD Billion) 

10. Global Small and Medium Enterprise Digital Marketing Software Market, By Region, 2019-2030 (USD Billion) 

11. North America Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

12. North America Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

13. North America Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

14. U.S. Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

15. U.S. Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

16. U.S. Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

17. Canada Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

18. Canada Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

19. Canada Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

20. Mexico Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

21. Mexico Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

22. Mexico Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

23. Europe Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

24. Europe Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

25. Europe Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

26. Germany Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

27. Germany Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

28. Germany Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

29. France Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

30. France Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

31. France Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

32. U.K. Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

33. U.K. Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

34. U.K. Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

35. Italy Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

36. Italy Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

37. Italy Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

38. Spain Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

39. Spain Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

40. Spain Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

41. Asia Pacific Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

42. Asia Pacific Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

43. Asia Pacific Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

44. Japan Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

45. Japan Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

46. Japan Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

47. China Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

48. China Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

49. China Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

50. India Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

51. India  Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

52. India Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

53. South America Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

54. South America Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

55. South America Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

56. Brazil Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

57. Brazil Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

58. Brazil Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

59. The Middle East and Africa Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

60. The Middle East and Africa Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

61. The Middle East and Africa Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

62. UAE Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

63. UAE Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

64. UAE Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

65. South Africa Digital Marketing Software Market, By Solution, 2019-2030 (USD Billion) 

66. South Africa Digital Marketing Software Market, By Deployment, 2019-2030 (USD Billion) 

67. South Africa Digital Marketing Software Market, By Enterprise Size, 2019-2030 (USD Billion) 

List of Figures 

1. Global Digital Marketing Software Market Segmentation

2. Digital Marketing Software 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 Digital Marketing Software Market Attractiveness Analysis By Solution

9. Global Digital Marketing Software Market Attractiveness Analysis By Deployment

10. Global Digital Marketing Software Market Attractiveness Analysis By Enterprise Size

11. Global Digital Marketing Software Market Attractiveness Analysis By Region

12. Global Digital Marketing Software Market: Dynamics

13. Global Digital Marketing Software Market Share by Solution (2022 & 2030)

14. Global Digital Marketing Software Market Share by Deployment (2022 & 2030)

15. Global Digital Marketing Software Market Share by Enterprise Size (2022 & 2030)

16. Global Digital Marketing Software Market Share by Regions (2022 & 2030)

17. Global Digital Marketing Software Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global digital marketing software based on the below-mentioned segments:

Global Digital Marketing Software by Solution:

  • CRM Software
  • Marketing Automation
  • Social Media

Global Digital Marketing Software by Deployment Type:

  • On-Premise
  • Cloud

Global Digital Marketing Software by Enterprise Size:

  • Large Enterprise
  • Small and Medium Enterprise

Global Digital Marketing Software 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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