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Free Space Optics (FSO) Communication Market

Free Space Optics (FSO) Communication Market Size by Components (Modulators, Transmitters, Demodulators, Encoders, Decoders, and Receivers), End-User (IT & Telecommunication, Healthcare, Traffic, Aerospace Military, Defense, Business, Consumer Electronics, Manufacturing, Automotive and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12841
  • Published Date: Sep, 2024
  • Pages: 234
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global free space optics (FSO) communication market is expected to reach USD 1,6603.78 million by 2033, at a CAGR of 31% from 2024 to 2033. Free Space Optics (FSO) Communication market growth would be driven by the increasing need for high bandwidth and rising usage of free optics in military applications. Similarly, the growing use of free space optics in 4G and 3G networks and fast and effortless technology installation influence the market. Due to the expansion of smart city development, the demand for Free Space Optics (FSO) Communication is increasing. This is because Free Space Optics (FSO) Communication supports IoT devices. High-speed internet is required to run a smart city, and Free Space Optics (FSO) Communication can provide it so that surveillance systems, public Wi-Fi and traffic management can be done.

Market Overview:

Free Space Optic Communication (FSO) is an optical communication feature that wirelessly transfers data by transmitting rays in open space or vacuum, permitting visual connection for telecommunication and computer networking. The line of vision technology consists of an optical transceiver at both points with exposure capability for transmitting data, voice, and video at a maximum 10Gbps data speed by sending optical beams via free air rather than optical glass fiber cable cores. Similarly, storage area network (SAN), outdoor wireless access, bridging WAN access, last-mile access, and military access are some of the free space optic communication channel services. The increased bandwidth necessity and the rising use of free optics in military applications drive the market. The market is anticipated to grow during the projection period due to the growing usage of free space optics (FSO) in 4G and 3G networks and cloud computing's suitable and easy installation. Also, the market is developing, resulting in various benefits it offers, like lower infrastructure prices, speedy broadband availability, increased data transmission speed, and improved connection. The increasing installation of personal long-term evolution (LTE) networks and the need for safe and high-speed optical communications will push market growth during the projection duration. Also, increasing demands for last-mile connections and continuous development of alternative RF technology for outdoor connectivity would drive market growth. Free Space Optics (FSO) is not easy to intercept, so communication through it is very secure. Therefore, it is used to transfer secret data or deliver messages.

Free Space Optics (FSO) Communication Market Size

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Market Dynamics:

Drivers
  •  Rise in adoption of aerospace & military for free-space optics due to its multiple advantages

Wireless communication encounters challenges like bandwidth restriction and lower speed of data transmission. Regardless, Free Space Optics is a famous wireless technology in the military, aerospace & defense domain, reducing many problems conventional wireless communication systems face. The technology discovers usage in deep-space probes, satellite links, communication in remote areas, UAVs, and aircraft among enterprise connectivity. It is operated for point-to-point communication, set within the vision line. It utilizes modulation techniques, like amplitude and phase modulation, to transform the input into a digital signal for additional transmission.

Restraints:
  • Problems encountered due to atmospheric turbulence, bright light, and fog

The free space optics market encounters a particular issue. For instance, before installing the structure for free-space optics communication in the middle of two endpoints, the visual line between the two points must be uninterrupted of any obstacles, like buildings or trees. Furthermore, free space optics transmission can face interruptions due to fog (moisture) and atmospheric turbulence. The existence of moisture (fog) can severely affect the features of the light wave, which is transferred by scattering, absorption, and reflection. These are some factors hindering the development of the free space optics market.

Opportunities:
  • Technological advancements

Free space optical (FSO) communication is the wireless data transmission through a modulated optical ray directed via free space, without fiber optics or different optic systems displaying the rays. The signals were utilized to share information through the latest technology. Graham Bell's trademark on the photophone is the beginning of modern FSO approaches, as it transferred audio signals, which is voice, via the modulation of sunrays. A rebirth of Free-space optical systems was initiated with the availability of lasers, light sources with improved output power, and increased consistency, which permitted the exact direction of the light beams over long ways.

Segmentation Analysis:

The global free space optics (FSO) communication market has been segmented based on component, end-user, and regions.

  • The component segment is divided into modulators, transmitters, demodulators, encoders, decoders, and receivers. The transmitter segment dominated the market, with a market share of around 18% in 2023. Transmitters are chosen over other components as they are technically accessible, contain no mechanical parts, and require less maintenance. They are also resistant to turbulence that drives segment growth.
  • The end-user segment is divided into IT & telecommunication, healthcare, traffic, aerospace, military, defense, business, consumer electronics, manufacturing, automotive, and others. The defense segment dominated the market, with a market share of around 12% in 2023. The internet connection for the military can provide less cost, larger bandwidth, elevated and highly safe space, and the troposphere.
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 free space optics (FSO) communication market, with a 34.5% share of the market revenue in 2023.

North America Region Free Space Optics (FSO) Communication Market Share in 2023 - 34.5%

 

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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 free space optics (FSO) communication industry.

In May 2022, Mitsubishi Electric Corporation declared that it had made the world's first laser communication terminal integrating space optical communication and spatial laser acquisition in the photodetector. It detects the direction of received beams in the 1.5-μm band, a general-purpose band used for terrestrial optical fiber communications and other applications.

List of Key Market Players:
  • Wireless Excellence Limited
  • Trimble Hungary Ltd.
  • Signify Holding
  • Optelix
  • Oledcomm
  • Mostcom Ltd.
  • Lucibel
  • LightPointe Communications, Inc.
  • IBSENtelecom Ltd.
  • Harris Corporation
  • fSONA Networks Corp.
  • AOptix Technologies Inc.
  • Anova Technologies
Key Target Audience
  • Automotive
  • IT & Telecommunications
  • Defense
  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers

Report Description:

  • Global Free Space Optics (FSO) Communication 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 as the base year of the report. 2020 to 2022 are considered as the historic years and 2024 to 2033 are the forecast years. The global free space optics (FSO) communication market is based on revenue (USD Million). 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 global free space optics (FSO) communication 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 with 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 free space optics (FSO) communication based on component, end user 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 global free space optics (FSO) communication market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global free space optics (FSO) communication 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’s. 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 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 free space optics (FSO) communication market) is covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the free space optics (FSO) communication market was valued at USD 1,115.56 million in 2023 to USD 1,6603.78 million by 2033.

Global free space optics (FSO) communication market is growing at a CAGR of 31% during the forecast period 2024-2033.

The global free space optics (FSO) communication market has been segmented based on component, end user, and regions. The transmitter segment led the market in 2023. The defense segment led the market in 2023.

North America region emerged as the largest market for the free space optics (FSO) communication market.

The market's growth will be influenced by the rise in adoption of aerospace & military for free-space optics due to its multiple advantages.

Problems encounter due to atmospheric turbulence, bright light, and fog to hinder market growth.

Technological advancements will provide huge opportunities to the market.

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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 Component
          4.3.2. Market Attractiveness Analysis by End-user
          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. Rise in adoption of aerospace & military for free-space optics due to its multiple advantages
    5.3. Restraints
          5.3.1. Problems encounter due to atmospheric turbulence, bright light, and fog
    5.4. Opportunities
          5.4.1. Technological advancements
    5.5. Challenges
          5.5.1. High Maintenance Costs

6. Global Free Space Optics (FSO) Communication Market Analysis and Forecast, By Component
    6.1. Segment Overview
    6.2. Modulators
    6.3. Transmitters
    6.4. Demodulators
    6.5. Encoders
    6.6. Decoders
    6.7. Receivers

7. Global Free Space Optics (FSO) Communication Market Analysis and Forecast, By End-user
    7.1. Segment Overview
    7.2. IT & Telecommunication
    7.3. Healthcare
    7.4. Traffic
    7.5. Aerospace Military
    7.6. Defense
    7.7. Business
    7.8. Consumer Electronics
    7.9. Manufacturing
    7.10. Automotive
    7.11. Others

8. Global Free Space Optics (FSO) Communication 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 Free Space Optics (FSO) Communication Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Free Space Optics (FSO) Communication 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. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Wireless Excellence Limited.
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Trimble Hungary Ltd
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Signify Holding
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Optelix
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Oledcomm.
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Mostcom Ltd
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Lucibel
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. LightPointe Communications, Inc
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. IBSENtelecom Ltd
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Harris Corporation
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Product Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. fSONA Networks Corp
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Product Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. AOptix Technologies Inc
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company Product Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis
    10.13. Anova Technologies
          10.13.1. Business Overview
          10.13.2. Company Snapshot
          10.13.3. Company Market Share Analysis
          10.13.4. Company Product Portfolio
          10.13.5. Recent Developments
          10.13.6. SWOT Analysis

List of Table

1. Global Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

2. Global Modulators Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million) 

3. Global Transmitters Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million) 

4. Global Demodulators Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million) 

5. Global Encoders Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million) 

6. Global Decoders Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million) 

7. Global Receivers Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million) 

8. Global Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

9. Global IT & Telecommunication Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million) 

10. Global Healthcare Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million)

11. Global Traffic Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million)

12. Global Aerospace Military Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million)

13. Global Defense Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million)

14. Global Business Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million)

15. Global Consumer Electronics Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million)

16. Global Manufacturing Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million)

17. Global Automotive Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million)

18. Global Others Free Space Optics (FSO) Communication Market, By Region, 2020-2033 (USD Million)

19. North America Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

20. North America Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

21. U.S. Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

22. U.S. Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

23. Canada Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

24. Canada Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

25. Mexico Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

26. Mexico Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

27. Europe Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

28. Europe Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

29. Germany Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

30. Germany Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

31. France Free Space Optics (FSO) Communication Market, By Component 2020-2033 (USD Million) 

32. France Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

33. U.K. Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

34. U.K. Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

35. Italy Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

36. Italy Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

37. Spain Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

38. Spain Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

39. Asia Pacific Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

40. Asia Pacific Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

41. Japan Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

42. Japan Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

43. China Free Space Optics (FSO) Communication Market, By Component 2020-2033 (USD Million) 

44. China Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

45. India Free Space Optics (FSO) Communication Market, By Component 2020-2033 (USD Million) 

46. India Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

47. South America Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

48. South America Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

49. Brazil Free Space Optics (FSO) Communication Market, By Component 2020-2033 (USD Million) 

50. Brazil Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

51. Middle East and Africa Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

52. Middle East and Africa Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

53. UAE Free Space Optics (FSO) Communication Market, By Component, 2020-2033 (USD Million) 

54. UAE Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

55. South Africa Free Space Optics (FSO) Communication Market, By Component 2020-2033 (USD Million) 

56. South Africa Free Space Optics (FSO) Communication Market, By End-user, 2020-2033 (USD Million) 

List of Figures 

1. Global Free Space Optics (FSO) Communication Market Segmentation

2. Free Space Optics (FSO) Communication 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 Free Space Optics (FSO) Communication Market Attractiveness Analysis by Component

9. Global Free Space Optics (FSO) Communication Market Attractiveness Analysis by End-user

10. Global Free Space Optics (FSO) Communication Market Attractiveness Analysis by Region

11. Global Free Space Optics (FSO) Communication Market: Dynamics

12. Global Free Space Optics (FSO) Communication Market Share by Component (2023 & 2033)

13. Global Free Space Optics (FSO) Communication Market Share by End-user (2023 & 2033)

14. Global Free Space Optics (FSO) Communication Market Share by Regions (2023 & 2033)

Global Free Space Optics (FSO) Communication 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 free space optics (FSO) communication market based on below mentioned segments:

Global Free Space Optics (FSO) Communication Market by Components:

  • Modulators
  • Transmitters
  • Demodulators
  • Encoders
  • Decoders
  • Receivers

Global Free Space Optics (FSO) Communication Market by End-User:

  • IT & Telecommunication
  • Healthcare
  • Traffic
  • Aerospace Military
  • Defense
  • Business
  • Consumer Electronics
  • Manufacturing
  • Automotive
  • Others

Global Free Space Optics (FSO) Communication 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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