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Haptic Technology Market

Haptic Technology Market Size by Feedback (Force Feedback and Tactile Feedback), Component (Actuators, Microcontrollers, Software, Drivers, and Others), Application (Consumer Electronics, Automotive & Transportation, Healthcare, Gaming, Education & Research, Engineering, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13456
  • Published Date: May, 2023
  • Pages: 235
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global haptic technology market was valued at USD 5.86 billion in 2022, growing at a CAGR of 11.56% from 2023 to 2032. The market is expected to reach USD 17.49 billion by 2032. The growth of haptic technology is increasing the adoption of haptic technology in multiple gaming applications with AR/VR-enabled instruments to provide immersive gaming experiences, propelling the growth in the market. 

Market Introduction:

Haptic technology, or 3D touch or kinaesthetic communication, can make an experience of touch by applying motions, vibrations, or forces to the user. Haptic technology recreates the sense of touch via a vibration or other means. Haptic technology acts as an interface between the user & the connected machine, providing forced or tactile feedback to the users. Haptics find broad applications and is known to improve the user experience by engaging sound, light, and touch, especially in joysticks, video game controllers, and steering wheels. Haptic technology delivers flexibility in the military field, including training in a virtual reality environment. Haptic science also affects tactile feedback, such as air pressure or sound waves. Game controllers, wearables, phones, virtual reality, the automobile industry, and many more fields employ haptic technology broadly.

Haptic Technology Market Size

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Recent Development
  • For example, in September 2020, Immersion signed a multi-year license regeneration with LG Electronics to continue utilizing TouchSense software & haptic technologies in its mobile appliances. LG Electronics is anticipated to continue utilizing Immersion haptic software in its complete range of smartphones.
  • For example, in Jun-2020, Immersion came into accord with Alps Alpine, a Japanese multinational company. The contract aimed to utilise Immersion's Active Sensing technology in the Alps Alpine's touch feedback instruments. The latest Active Sensing technology-allowed solutions offer a high-fidelity, high-quality, quick-to-respond tactile effect for improved user experiences in automotive human-machine interfaces.

Market Dynamics:

Drivers

The rising use of haptic technology in the medical and robotics industry: The rising use of haptics in gaming consoles for an immersive experience drives market growth. Further, the rising usage of household electronic devices, e.g. laptops, smartphones, and other wearable gadgets, are helping to drive the market growth over the forecast period. Also, medical wearables and haptics will transform the healthcare sector and propel market growth. Additionally, the haptic has vast scope in engineering applications and design, propelling the market growth.

Restraints:

The high implementation cost of haptic: The high cost of technology & technical challenges related to product design is restraining market growth factors. Moreover, the increasing design complexity and maintenance costs are hindering market growth. Additionally, the price of employing haptic technology is not excessive, but the market for haptic technology has been harshly restricted by the expense of force-feedback haptic machines, which are more costly than tactile information haptic machines.

Opportunities:

The electronics industry's adoption of technology: The rapidly increasing usage of education display technology and the high demand from the holographic display industry are opportunities for market growth. Moreover, the electronics industry's adoption of the technology is anticipated to be accelerated by its different advantages, including sound, improved touchscreen, and visual effects in display touch applications are helping to boost the market growth. The escalating usage of haptics in home appliances & education stimulates market growth. Moreover, the rising demand for wearable devices and the prevalence of different customer electronics manufacturers are helping to boost the market growth. However, haptic technology permits users to reproduce the tactile touch through a series of actions, including force & vibration. Haptic sensors are revolutionizing the automotive industry by allowing drivers to make informed decisions. It also assists in providing an intuitive & seamless experience. These factors are stimulating the market growth over the projection period.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the largest global haptic technology market, with a 43.25% share of the market revenue in 2022.

The Asia-Pacific region will account for the largest market share with revenue growth. This growth is attributed to the presence of a strong electronics manufacturing base in Japan and China. Moreover, leading smartphone manufacturers such as Huawei, Vivo, Xiaomi, Oppo, and OnePlus are stimulating market growth. Also, the increasing integration of innovative technologies, including infotainment systems & touchscreen-enabled in automotive industries, is expected to drive market growth in this region.

Asia Pacific Region Haptic Technology Market Share in 2022 - 43.25%

 

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Feedback Segment Analysis

The feedback segment is divided into force feedback and tactile feedback. The force feedback segment dominated the market, with a market share of around 56.12% in 2022. This growth is attributed to the increasing demand for high-quality graphical images and 3D animations in video games & manufacturing industries. Force feedback haptic technology is a type of haptic technology that provides tactile or forced feedback to the user. This can be used to provide feedback for simulation, games, virtual reality, training, and other applications. It also provides feedback for medical methods & other medical machines. Additionally, the increasing consumer demand for simulating smartphone touch experiences and offering personalized texts and notifications are expected to propel the tactile feedback segment market growth.

Component Segment Analysis

The component segment is divided into actuators, microcontrollers, software, drivers, and others. The software segment dominated the market, with a market share of around 25.29% in 2022. This growth is attributed to the increasing application of haptic technology in electronic devices.

Application Segment Analysis

The application segment is divided into consumer electronics, automotive & transportation, healthcare, gaming, education & research, engineering, and others. The consumer electronics segment dominated, with a market share of around 21.16% in 2022. This growth is attributed to the rising use of consumer electronics such as smartphones, wearables, watches, and wristbands. Further, by 2032, the automotive & transportation segment will likely dominate the market due to the increasing demand for haptic technology devices in cars that provide a realistic sense of touch for driving and gaming purposes.

Some of the Key Market Players:
  • TDK Corporation
  • Infineon Technologies AG
  • Dialog Semiconductor PLC
  • Microchip Technology, Inc
  • Immersion Corporation
  • Synaptics, Inc.
  • ON Semiconductor Corporation
  • Ultraleap Limited (Leap Motion, Inc.)
  • HaptX, Inc.
  • SMK Corporation

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 5.86 Billion
Market size value in 2032 USD 17.49 Billion
CAGR (2023 to 2032) 11.56%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Feedback, Component, Application

Frequesntly Asked Questions

As per The Brainy Insights, the size of the haptic technology market was valued at 5.86 billion in 2022 to USD 17.49 billion by 2032.

Global haptic technology market is growing at a CAGR of 11.56% during the forecast period 2022-2032.

Asia Pacific region emerged as the largest market for the haptic technology.

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  • Segmentation on the basis of any specific country or region
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Feedback
          4.3.2. Market Attractiveness Analysis By Component
          4.3.3. Market Attractiveness Analysis By Application
          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 growing income levels
          5.2.2. The rising demand for loT devices
          5.2.3. The rising applications in robotic industries
    5.3. Restraints
          5.3.1. The high implementation cost of haptic
          5.3.2. The high-power consumption of haptic devices
    5.4. Opportunities
          5.4.1. The rising demand for wearable devices
          5.4.2. The electronics industry's adoption of the technology

6. Global Haptic Technology Market Analysis and Forecast, By Feedback
    6.1. Segment Overview
    6.2. Force Feedback
    6.3. Tactile Feedback

7. Global Haptic Technology Market Analysis and Forecast, By Component
    7.1. Segment Overview
    7.2. Actuators
    7.3. Microcontrollers
    7.4. Software
    7.5. Drivers
    7.6. Others

8. Global Haptic Technology Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Consumer Electronics
    8.3. Automotive & Transportation
    8.4. Healthcare
    8.5. Gaming
    8.6. Education & Research
    8.7. Engineering
    8.8. Others

9. Global Haptic Technology 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 Haptic Technology Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Haptic Technology Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. TDK Corporation
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Infineon Technologies AG
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Dialog Semiconductor PLC
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Microchip Technology, Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Immersion Corporation
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Synaptics, Inc.
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. ON Semiconductor Corporation
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Ultraleap Limited (Leap Motion, Inc.)
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. HaptX, Inc
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. SMK Corporation
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

2. Global Force Feedback, Haptic Technology Market, By Region, 2019-2032 (USD Billion) 

3. Global Tactile Feedback, Haptic Technology Market, By Region, 2019-2032 (USD Billion) 

4. Global Haptic Technology Market, By Component, 2019-2032 (USD Billion)

5. Global Actuators, Haptic Technology Market, By Region, 2019-2032 (USD Billion)

6. Global Microcontrollers, Haptic Technology Market, By Region, 2019-2032 (USD Billion)

7. Global Software, Haptic Technology Market, By Region, 2019-2032 (USD Billion)

8. Global Drivers, Haptic Technology Market, By Region, 2019-2032 (USD Billion)

9. Global Others, Haptic Technology Market, By Region, 2019-2032 (USD Billion)

10. Global Haptic Technology Market, By Application, 2019-2032 (USD Billion)

11. Global Automotive & Transportation, Haptic Technology Market, By Region, 2019-2032 (USD Billion)

12. Global Healthcare, Haptic Technology Market, By Region, 2019-2032 (USD Billion)

13. Global Gaming, Haptic Technology Market, By Region, 2019-2032 (USD Billion)

14. Global Education & Research, Haptic Technology Market, By Region, 2019-2032 (USD Billion)

15. Global Engineering, Haptic Technology Market, By Region, 2019-2032 (USD Billion)

16. Global Others, Haptic Technology Market, By Region, 2019-2032 (USD Billion)

17. North America Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

18. North America Haptic Technology Market, By Component, 2019-2032 (USD Billion)

19. North America Haptic Technology Market, By Application, 2019-2032 (USD Billion)

20. U.S. Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

21. U.S. Haptic Technology Market, By Component, 2019-2032 (USD Billion)

22. U.S. Haptic Technology Market, By Application, 2019-2032 (USD Billion)

23. Canada Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

24. Canada Haptic Technology Market, By Component, 2019-2032 (USD Billion)

25. Canada Haptic Technology Market, By Application, 2019-2032 (USD Billion)

26. Mexico Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

27. Mexico Haptic Technology Market, By Component, 2019-2032 (USD Billion)

28. Mexico Haptic Technology Market, By Application, 2019-2032 (USD Billion)

29. Europe Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

30. Europe Haptic Technology Market, By Component, 2019-2032 (USD Billion)

31. Europe Haptic Technology Market, By Application, 2019-2032 (USD Billion)

32. Germany Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

33. Germany Haptic Technology Market, By Component, 2019-2032 (USD Billion)

34. Germany Haptic Technology Market, By Application, 2019-2032 (USD Billion)

35. France Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

36. France Haptic Technology Market, By Component, 2019-2032 (USD Billion)

37. France Haptic Technology Market, By Application, 2019-2032 (USD Billion)

38. U.K. Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

39. U.K. Haptic Technology Market, By Component, 2019-2032 (USD Billion)

40. U.K. Haptic Technology Market, By Application, 2019-2032 (USD Billion)

41. Italy Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

42. Italy Haptic Technology Market, By Component, 2019-2032 (USD Billion)

43. Italy Haptic Technology Market, By Application, 2019-2032 (USD Billion)

44. Spain Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

45. Spain Haptic Technology Market, By Component, 2019-2032 (USD Billion)

46. Spain Haptic Technology Market, By Application, 2019-2032 (USD Billion)

47. Asia Pacific Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

48. Asia Pacific Haptic Technology Market, By Component, 2019-2032 (USD Billion)

49. Asia Pacific Haptic Technology Market, By Application, 2019-2032 (USD Billion)

50. Japan Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

51. Japan Haptic Technology Market, By Component, 2019-2032 (USD Billion)

52. Japan Haptic Technology Market, By Application, 2019-2032 (USD Billion)

53. China Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

54. China Haptic Technology Market, By Component, 2019-2032 (USD Billion)

55. China Haptic Technology Market, By Application, 2019-2032 (USD Billion)

56. India Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

57. India Haptic Technology Market, By Component, 2019-2032 (USD Billion)

58. India Haptic Technology Market, By Application, 2019-2032 (USD Billion)

59. South America Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

60. South America Haptic Technology Market, By Component, 2019-2032 (USD Billion)

61. South America Haptic Technology Market, By Application, 2019-2032 (USD Billion)

62. Brazil Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

63. Brazil Haptic Technology Market, By Component, 2019-2032 (USD Billion)

64. Brazil Haptic Technology Market, By Application, 2019-2032 (USD Billion)

65. Middle East and Africa Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

66. Middle East and Africa Haptic Technology Market, By Component, 2019-2032 (USD Billion)

67. Middle East and Africa Haptic Technology Market, By Application, 2019-2032 (USD Billion)

68. UAE Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

69. UAE Haptic Technology Market, By Component, 2019-2032 (USD Billion)

70. UAE Haptic Technology Market, By Application, 2019-2032 (USD Billion)

71. South Africa Haptic Technology Market, By Feedback, 2019-2032 (USD Billion)

72. South Africa Haptic Technology Market, By Component, 2019-2032 (USD Billion)

73. South Africa Haptic Technology Market, By Application, 2019-2032 (USD Billion)

List of Figures 

1. Global Haptic Technology Market Segmentation

2. Global Haptic Technology Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top- Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Haptic Technology Market Attractiveness Analysis By Feedback

9. Global Haptic Technology Market Attractiveness Analysis By Component 

10. Global Haptic Technology Market Attractiveness Analysis By Application

11. Global Haptic Technology Market Attractiveness Analysis By Region

12. Global Haptic Technology Market: Dynamics

13. Global Haptic Technology Market Share By Feedback (2023 & 2032)

14. Global Haptic Technology Market Share By Component (2023 & 2032)

15. Global Haptic Technology Market Share By Application (2023 & 2032)

16. Global Haptic Technology Market Share By Regions (2023 & 2032)

17. Global Haptic Technology Market Share By Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global haptic technology based on below mentioned segments:

Global Haptic Technology Market by Feedback: 

  • Force Feedback
  • Tactile Feedback

Global Haptic Technology Market by Component:

  • Actuators
  • Microcontrollers
  • Software
  • Drivers
  • Others

Global Haptic Technology Market by Application:

  • Consumer Electronics
  • Automotive & Transportation
  • Healthcare
  • Gaming
  • Education & Research
  • Engineering
  • Others

Global Haptic Technology 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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Global Outreach6 Major regions and 40+ countries level analysis accomplished

Competitive PricingOur pricing strategy is highly competitive in the market, without compensating on the quality and the timeline of project delivery

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