Digital Out-of-Home Advertising Market

Digital Out-of-Home Advertising Market Size by Format (Billboards, Place Based Media, Transit & Transportation and Others), Application (Outdoor and Indoor), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14506
  • Published Date: Aug, 2024
  • Pages: 236
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global Digital Out-of-Home (DOOH) Advertising market was valued at USD 15.35 Billion in 2023 and growing at a CAGR of 18.56% from 2024 to 2033. The market is expected to reach USD 84.24 Billion by 2033. Digital Out-of-Home advertising is growing substantially as it is a very attractive form of advertising. It has the advantage of technology in online display advertisements, like enhanced traffic data and target audience. Also, it is immune to ad blockers, so the user cannot skip these ads. DOOH advertising also plugs in several holes, making conventional outdoor advertising obsolete based on post-digitalization standards. In DOOH, several ads can be shown in rotation within the physical confinement of a banner of a single space. Hence, it is also about digital displays. It helps enhance revenue for the people of the media unit. Moreover, it helps marketers save on costly print costs and share media expenditures with advertisers. DOOH provides advertisers with new flexibility based on dynamic creative display and personalization. These are some of the factors which are fueling the Digital Out-of-Home Advertising market.

Market Introduction:

Digital out-of-home (DOOH) advertising is a type of outdoor advertising that combines offline out-of-home advertising with digital components. This type of advertising is very interactive and, hence, attractive type of advertising. It is driven by digital platforms, elements, and features exhibited at several locations open to the public. DOOH advertising consists of digital billboards and a network of digital displays in malls, healthcare providers and other locations like retail stores, movie theatres, major roadways, etc.  There is a surge in internet penetration along with the growing use of visual displays by marketers to target particular audiences; video material and motion graphics are some of the factors driving the market.  It has been observed that leading manufacturers are slowly adopting these commercials to sell their goods in the market. DOOH advertising is broadly driven by a broad shift in the media towards digital technology and the adoption of advanced technologies and devices. Also, technological advancements, like mobile-based digital networks, are anticipated to propel the market's growth. Also, there is much focus on personalized DOOH advertising, which will increase the demand for the DOOH advertising market in the forecasting period. In DOOH advertising, the promotional content is displayed digitally and dynamically in indoor and outdoor public areas. This market is also rising as the advertising and marketing sectors are trying to explore alternative solutions that can help them broadcast their brand message. This is basically due to the surge in the complexity of online advertising and the high cost related to ad blockers. Moreover, programmatic advertising helps advertisers deliver targeted, real-time messages for particular audiences based on data points like demographics, location, and weather conditions. It helps in better and more efficient campaign management, proper targeting and good return on investment. Also, integrating data and analytics helps advertisers measure the impact of their campaigns in much better ways, thus refining the targeting strategies and optimizing the content in real-time. The use of location-based data and AI-powered algorithms helps the DOOH screens display ads which are tailored to the time of the day, any local events happening around or, weather conditions, etc. It helps enhance the consumer experience and improves the likelihood of conversion. Moreover, Virtual Reality (VR) and Augmented Reality (AR) have introduced new layers of interaction and engagement in DOOH advertising. These technologies help the advertiser deliver crisp, engaging, and dynamic content that captures the attention of the people passing by in a way that conventional billboards cannot match. All these factors are driving the Digital Out-of-Home Advertising market.

Digital Out-of-Home Advertising Market Size 

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Recent Development
  • In June 2023: JCDecaux SE informed that it had won 6-year exclusive along with a 2-year extension option of an advertising agreement with Sporveien Media AS, which governs the advertising concessions for public transport in the greater Oslo region. This contract includes advertising rights for all trams, buses, Oslo metro stations, and trains.  In this Oslo metro, the maximum number of digitized OOH contracts in the Norwegian market is around 345 digital panels and 100 million passengers annually. This strategy is helping the organization expand its market share in the Digital Out-of-Home Advertising market.

Market Dynamics:

Drivers

The growing preference for DOOH Advertising Based on one of the articles of April 2024, the demand for DOOH advertising is growing significantly worldwide as it has a tremendous 82% ad recall. Moreover, it is becoming the fastest-growing advertising channel, with a substantial growth of around 24% in 2023. Also, it is estimated that by 2027, it will hold around 45% of the total OOH advertising consumption. DOOH helps hit the bull's eye all the time because of its tailored content, which depends on time, weather, and location. DOOH advertising can be used much better by using interactive screens, which can lead to direct interaction with the audience. This can give the players a competitive edge over others. These interactive screens can be more than just attention grabbers as they can help in gathering real-time data. It will be like interacting with the audience and thus a step forward in making people buy and connect with the brands. These factors are eventually driving the Digital Out-of-Home Advertising market.

Restraints:

High Cost–  DOOH is considered a very effective form of digital advertising but has some disadvantages. For instance, it has comparatively high costs in comparison to what marketers invest to use conventional billboards and other types of digital signage, and hence, all businesses are required to be aware of the number of digital ads they buy and when and where it is placed. All these factors are acting as restraints for the market.

Opportunities:

Use of programmatic advertising– DOOH advertising is proving to be effective in using data-driven insights. With the use of advanced technologies such as computer vision or facial recognition, advertisers are gathering important data on demographic information, audience engagement and dwell time. It helps with the more accurate targeting and optimization of campaigns. This helps maximize the return on investment for advertisers. Also, DOOH is embracing programmatic advertising, which helps with real-time bidding and automated buying of ad space. It helps streamline the campaign management process, making more efficient and targeted advertising. Moreover, DOOH also incorporates innovations such as AI and AR into its advertising campaigns. AI is helping optimize ad placement, audience targeting, and content delivery, which will help in more personalized and impactful advertising. Also, AR will help in a better interactive experience for viewers. All these factors eventually drive the Digital Out-of-Home Advertising market in the forecasting period.

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 Digital Out-of-Home Advertising market, with a 34.89% share of the market revenue in 2023. This market share is attributed to the surge in the adoption of Digital Out-of-Home (DOOH) advertising in airports and commercial verticals, etc. Also, rapid urbanization is happening in countries like the US and Canada, along with technological advancements in advertisement. All these factors will eventually drive the Digital Out-of-Home (DOOH) advertising market in the region.

North America Region Digital Out-of-Home Advertising Market Share in 2023 - 34.89%

 

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  • Asia Pacific is having the fastest growth rate.  This growth rate is attributed to swift spending on digital out-of-home (DOOH) advertising in emerging economies with large consumer bases, such as India, China, and Japan.
Format Segment Analysis

The format segment is divided into billboards, place based media, transit & transportation and others. The Billboard segment dominated the market, with a market share of around 65.76% in 2023. This market share is attributed to increased investment in smart advertisements, which led to the growing use of digital outdoor billboards to interact with the target audience. Also, advancements in technology like augmented reality and virtual reality make DOOH campaigns more engaging and provide an enhanced experience.

Application Segment Analysis

The application segment is divided into Outdoor and Indoor. Outdoor segment dominated the market, with a market share of around 70.43% in 2023. This significant market share is attributed to the surge in digital technologies like LED displays, interactive displays and projection mapping. It helps advertisers create more dynamic and engaging ad experiences that can easily capture people’s attention in outdoor locations. Also, the use of data-driven advertising solutions is leading to a significant share of the outdoor segment.

Some of the Key Market Players:
  • JCDecaux
  • Daktronics Dr.
  • Clear Channel Outdoor Holdings, Inc.
  • Focus Media
  • Stroer SE & Co. KGaA
  • oOh!media Limited
  • Lamar Advertising Company
  • Broadsign International LLC.
  • Global Outdoor Media Limited
  • Outfront Media Inc.

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 15.35 Billion
Market size value in 2033 USD 84.24 Billion
CAGR (2024 to 2033) 18.56%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Format and Application

Frequesntly Asked Questions

North America region emerged as the largest market for the Digital Out-of-Home Advertising.

The market's growth will be influenced by the growing preference for DOOH Advertising.

Use of programmatic advertising will provide huge opportunities to the market.

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 Format
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The growing preference for DOOH Advertising
    5.3. Restraints
          5.3.1. High Cost
    5.4. Opportunities
          5.4.1. Use of programmatic advertising
    5.5. Challenges
          5.5.1. Economic slowdown

6. Global Digital Out-of-Home Advertising Market Analysis and Forecast, By Format
    6.1. Segment Overview
    6.2. Billboards
    6.3. Place Based Media
    6.4. Transit & Transportation
    6.5. Others

7. Global Digital Out-of-Home Advertising Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Outdoor
    7.3. Indoor

8. Global Digital Out-of-Home Advertising Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Digital Out-of-Home Advertising Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in Global Digital Out-of-Home Advertising Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Format Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. JCDecaux
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Format Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Daktronics Dr
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Format Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Clear Channel Outdoor Holdings, Inc.
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Format Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Focus Media
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Format Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Stroer SE & Co. KGaA
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Format Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. oOh!media Limited
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Format Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Lamar Advertising Company
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Format Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Broadsign International LLC.
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Format Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Global Outdoor Media Limited
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Format Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Outfront Media Inc.
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Format Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis

List of Table

1. Global Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

2. Global Billboards, Digital Out-of-Home Advertising Market, By Region, 2020-2033 (USD Billion) 

3. Global Place Based Media, Digital Out-of-Home Advertising Market, By Region, 2020-2033 (USD Billion) 

4. Global Transit & Transportation, Digital Out-of-Home Advertising Market, By Region, 2020-2033 (USD Billion) 

5. Global Others, Digital Out-of-Home Advertising Market, By Region, 2020-2033 (USD Billion) 

6. Global Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion) 

7. Global Outdoor, Digital Out-of-Home Advertising Market, By Region, 2020-2033 (USD Billion) 

8. Global Indoor, Digital Out-of-Home Advertising Market, By Region, 2020-2033 (USD Billion) 

9. North America Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

10. North America Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

11. U.S. Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

12. U.S. Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

13. Canada Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

14. Canada Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

15. Mexico Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

16. Mexico Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

17. Europe Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

18. Europe Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

19. Germany Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

20. Germany Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

21. France Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

22. France Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

23. U.K. Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

24. U.K. Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

25. Italy Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

26. Italy Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

27. Spain Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

28. Spain Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

29. Asia Pacific Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

30. Asia Pacific Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

31. Japan Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

32. Japan Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

33. China Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

34. China Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

35. India Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

36. India Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

37. South America Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

38. South America Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

39. Brazil Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

40. Brazil Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

41. Middle East and Africa Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

42. Middle East and Africa Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

43. UAE Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

44. UAE Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

45. South Africa Digital Out-of-Home Advertising Market, By Format, 2020-2033 (USD Billion)

46. South Africa Digital Out-of-Home Advertising Market, By Application, 2020-2033 (USD Billion)

List of Figures 

1. Global Digital Out-of-Home Advertising Market Segmentation

2. Global Digital Out-of-Home Advertising 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 Out-of-Home Advertising Market Attractiveness Analysis By Format  

9. Global Digital Out-of-Home Advertising Market Attractiveness Analysis By Application 

10. Global Digital Out-of-Home Advertising Market Attractiveness Analysis By Region

11. Global Digital Out-of-Home Advertising Market: Dynamics

12. Global Digital Out-of-Home Advertising Market Share By Format (2023 & 2033)

13. Global Digital Out-of-Home Advertising Market Share By Application (2023 & 2033)

14. Global Digital Out-of-Home Advertising Market Share By Regions (2023 & 2033)

15. Global Digital Out-of-Home Advertising 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 Digital Out-of-Home Advertising market based on below mentioned segments:

Global Digital Out-of-Home Advertising Market by Format:

  • Billboards
  • Place Based Media
  • Transit & Transportation
  • Others

Global Digital Out-of-Home Advertising Market by Application:

  • Outdoor
  • Indoor

Global Digital Out-of-Home Advertising 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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