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Revenue Assurance Market

Revenue Assurance Market Size by Deployment Model (Cloud and On-premise), Component (Services and Software), Vertical (Retail, Telecom, BFSI, Healthcare, Energy & Utilities, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12658
  • Published Date: Sep, 2024
  • Pages: 235
  • Category: Information Technology & Semiconductors
  • Format: PDF
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Global revenue assurance market is expected to reach USD 17.40 Billion by 2033, at a CAGR of 11% from 2024 to 2033. An upsurge in the complication of networks & services coupled with the rising use of technology by fraudsters is driving the expansion of the revenue assurance market. The revenue assurance market will grow due to the rapidly growing digital transformation and adoption of automation. Along with this, integrating the latest technologies will also help the revenue assurance market grow in the future.

Market Overview:

Revenue assurance is applying a software solution that allows a communications service provider (CSP) to capture revenue for all services generated accurately. Revenue assurance sometimes expands into business assurance, service assurance, network assurance, risk management & fraud management. Revenue assurance is primarily strongly connected to billing assurance. A dedicated revenue assurance department may essay some of the processes associated with recognizing, curing, or preventing errors. However, responsibility for revenue assurance is frequently diffuse & varies significantly with the provider's organizational structure. The revenue assurance techniques applied in practice protect a wide range, from analysis & execution of enterprise controls to mechanical data interrogation. The revenue assurance process can be considered an auditing process in many ways. The revenue assurance processes can protect all departments & service lines in a telecommunications organization. One of the primary focus areas of a revenue assurance tool is to compare XDRs or CDRs from 2 distinct sources & check if all the records from the first system have appropriately moved to the second system keeping the proper business rules in regard. A telecom institution's revenue chain is usually a highly complex set of inter-related technologies & methods providing seamless services to the end customer. Revenue Assurance is highly accurate and transparent. These two qualities maintain the customer's trust and make their billing experience easy. Revenue Assurance reduces the chances of mistakes in billing. It also helps companies assume many types of risks. Revenue Assurance identifies and resolves issues related to revenue.

Revenue Assurance Market Size

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Market Dynamics:

Drivers
  • Rise of the subscription economy

The rise of the subscription economy is driving the revenue assurance market. Moreover, the demand for revenue assurance solutions increases as the number of users making real-time transactions boosts. Further, the revenue assurance solutions are intended to improve organizational competence while maintaining revenue capacity. Furthermore, the growing number of online & mobile banking network services will increase the market's growth in the analysis period.

Restraints:
  • Dearth of skilled persons and high cost of solution

The aging workforce is possibly one of the foremost causes of the skilled labor shortage. Further, monitoring fraud transactions at an early phase is also a challenge for companies that can limit the growth of the revenue assurance market.

Opportunities:
  • Integration of Advanced Technologies

New technologies involving the cloud, the Internet of Things (IoT), SDN/NFV, and 4G/5G create opportunities for operators to launch new industry services & models. The introduction of advanced technologies & mechanisms like real-time revenue assurance is expected to expand the market growth in the years to come.

Challenges:
  • Lack of organizational empowerment

End-use enterprises often lack their responsibility towards empowering their refuse & resources to spend extra in investing in revenue leakages services and solutions, which is anticipated to hinder the demand in the future years. Additionally, the shortage of emphasis on modification often leads to extreme instances, which have a financial influence, such as unanticipated revenue leakages that affect billing due to alterations in the web, mainly if risk management activity is weak or absent. This is further projected to be a challenge to market growth.

Segmentation Analysis:

The global revenue assurance market has been segmented based on deployment model, component, vertical and regions.

  • The deployment model segment is divided into cloud and on-premise. By 2033, the cloud segment is likely to dominate the market due to the scalability & flexibility offered by these solutions. Further, a paradigm shift from on-premise to cloud is set to make various opportunities in the market in the years to come. For example, WeDo Technologies Company provides revenue assurance & fraud management solutions. It persists in investing in cloud-based solutions, fortifying its affirmation to allow telecom operators to safeguard their revenues & minimize fraud. Also, the on-premise segment led the market with a market share of 62.28% in 2023 due to the exceptional safety it provides. Additionally, the critical data is held in an on-premises model with higher security & no third-party access in an on-premise deployment segment is projected to propel the market's growth.
  • The component segment is divided into services and software. By 2033, the services segment can dominate the market due to the increasing requirement for an organization to comprehend the potential influence of revenue leakage in the industry. Moreover, this segment is further segregated into system integration, operations & maintenance, managed services, and planning & consulting. These services improve the revenue assurance portfolio of the services providers by offering consumers operational flexibility, value creation, and competitive advantage. Moreover, the software segment led the market with 65.23% in 2023 due to the availability of highly flexible & innovative revenue assurance software.
  • The vertical segment is divided into retail, telecom, BFSI, healthcare, energy & utilities, and others. Telecom led the market with a market share of 26.36% in 2023 due to the rising incidence of telecom fraud. Further, the primary intent of revenue assurance is to cover the telecom income by discovering revenue losses, discovering the root causes for those losses, and finally proposing corrective actions. Further, the BFSI segment is expected to grow at a healthy growth rate due to increasing revenue loss in all areas of the bank sector.
Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. North America region emerged as the largest market for the global revenue assurance market with a 37.9% share of the market revenue in 2023.

North America Region Revenue Assurance Market Share in 2023 - 37.9%

 

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  • The presence of a strong telecom sector in countries like Canada and the US is a factor propelling the market's growth in this region. Moreover, the rise in the favorable business environment & strong customer support continues to buoy up creative projects, and technology spending in this region also assists drive the region's market growth.
  • During the forecast period, the Asia Pacific region will record the highest growth due to the augmented demand for cloud-based services from SMEs businesses. Moreover, the countries like Japan, India, China, and Australia also contribute a significant share to the Asia Pacific region's economy. The notable increasing investments in new technologies like 5G and virtualization of networks in the region are propelling the market's growth.
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 revenue assurance industry.

For example, in January 2020, Subex partnered with Jawwal, a Palestine-based MNO, to provide its ROC revenue assurance platform while expanding the partnership for the forthcoming five years. The partnership includes implementing the ROC RA platform, allowing Jawwal to protect its recently launched digital services, optimizing revenue streams, and diminishing risks.

List of Key Market Players:
  • Araxxe
  • Accenture plc
  • Amdocs
  • Subex Limited
  • Hewlett Packard Enterprise Development LP
  • Tech Mahindra Limited
  • TEOCO
  • Telefonaktiebolaget LM Ericsson
  • International Business Machines Corporation
  • Tata Consultancy Services Limited
  • WeDo Technologies
Key Target Audience:
  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm

Report Description:

  • Global Revenue Assurance 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 revenue assurance market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global revenue assurance 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 revenue assurance based on deployment model, component, vertical 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 revenue assurance 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 revenue assurance 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 revenue assurance 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 revenue assurance market was valued at USD 6.13 Billion in 2023 to USD 17.40 Billion by 2033.

Global revenue assurance market is growing at a CAGR of 11% during the forecast period 2024-2033.

North America region emerged as the largest market for the revenue assurance.

The market's growth will be influenced by rise of the subscription economy.

Dearth of skilled persons and high cost of solution could hamper the market growth.

Integration of advanced technologies will provide huge opportunities to the market.

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  • 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
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  • Report can be prepared for any specific country/region/segment
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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 Deployment Model
          4.3.2. Market Attractiveness Analysis By Component
          4.3.3. Market Attractiveness Analysis By Vertical
          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. Rise of the subscription economy
          5.2.2. Increasing incidence of revenue leakages
          5.2.3. Expansion in the generation of transaction data
    5.3. Restraints
          5.3.1. Economic slowdown and currency fluctuations
          5.3.2. Lack of skilled personnel
    5.4. Opportunities
          5.4.1. Integration of advanced technologies

6. Global Revenue Assurance Market Analysis and Forecast, By Deployment Model
    6.1. Segment Overview
    6.2. Cloud
    6.3. On-Premise

7. Global Revenue Assurance Market Analysis and Forecast, By Component
    7.1. Segment Overview
    7.2. Services
    7.3. Software

8. Global Revenue Assurance Market Analysis and Forecast, By Vertical
    8.1. Segment Overview
    8.2. Retail
    8.3. Telecom
    8.4. BFSI
    8.5. Healthcare
    8.6. Energy & Utilities
    8.7. Others

9. Global Revenue Assurance 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 Revenue Assurance Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Revenue Assurance 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. Araxxe
          11.1.1. Business Overview
          11.1.2. Company SnapsServices
          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. Accenture plc
          11.2.1. Business Overview
          11.2.2. Company SnapsServices
          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. Amdocs
          11.3.1. Business Overview
          11.3.2. Company SnapsServices
          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. Subex Limited
          11.4.1. Business Overview
          11.4.2. Company SnapsServices
          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. Hewlett Packard Enterprise Development LP
          11.5.1. Business Overview
          11.5.2. Company SnapsServices
          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. Tech Mahindra Limited
          11.6.1. Business Overview
          11.6.2. Company SnapsServices
          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. TEOCO
          11.7.1. Business Overview
          11.7.2. Company SnapsServices
          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. Telefonaktiebolaget LM Ericsson
          11.8.1. Business Overview
          11.8.2. Company SnapsServices
          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. International Business Machines Corporation
          11.9.1. Business Overview
          11.9.2. Company SnapsServices
          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. Tata Consultancy Services Limited
          11.10.1. Business Overview
          11.10.2. Company SnapsServices
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. WeDo Technologies
          11.11.1. Business Overview
          11.11.2. Company SnapsServices
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis

List of Table

1. Global Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

2. Global Cloud Revenue Assurance Market, By Region, 2020-2033 (USD Billion) 

3. Global On-Premise Revenue Assurance Market, By Region, 2020-2033 (USD Billion) 

4. Global Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

5. Global Services Revenue Assurance Market, By Region, 2020-2033 (USD Billion) 

6. Global Software Revenue Assurance Market, By Region, 2020-2033 (USD Billion) 

7. Global Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

8. Global Retail Revenue Assurance Market, By Region, 2020-2033 (USD Billion) 

9. Global Telecom Revenue Assurance Market, By Region, 2020-2033 (USD Billion) 

10. Global BFSI Revenue Assurance Market, By Region, 2020-2033 (USD Billion) 

11. Global Healthcare Revenue Assurance Market, By Region, 2020-2033 (USD Billion) 

12. Global Energy & Utilities Revenue Assurance Market, By Region, 2020-2033 (USD Billion) 

13. Global Others Revenue Assurance Market, By Region, 2020-2033 (USD Billion) 

14. Global Revenue Assurance Market, By Region, 2020-2033 (USD Billion) 

15. North America Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

16. North America Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

17. North America Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

18. U.S. Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

19. U.S. Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

20. U.S. Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

21. Canada Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

22. Canada Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

23. Canada Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

24. Mexico Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

25. Mexico Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

26. Mexico Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

27. Europe Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

28. Europe Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

29. Europe Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

30. Germany Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

31. Germany Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

32. Germany Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

33. France Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

34. France Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

35. France Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

36. U.K. Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

37. U.K. Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

38. U.K. Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

39. Italy Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

40. Italy Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

41. Italy Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

42. Spain Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

43. Spain Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

44. Spain Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

45. Asia Pacific Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

46. Asia Pacific Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

47. Asia Pacific Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

48. Japan Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

49. Japan Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

50. Japan Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

51. China Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

52. China Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

53. China Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

54. India Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

55. India Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

56. India Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

57. South America Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

58. South America Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

59. South America Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

60. Brazil Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

61. Brazil Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

62. Brazil Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

63. Middle East and Africa Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

64. Middle East and Africa Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

65. Middle East and Africa Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

66. UAE Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

67. UAE Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

68. UAE Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion) 

69. South Africa Revenue Assurance Market, By Deployment Model, 2020-2033 (USD Billion) 

70. South Africa Revenue Assurance Market, By Component, 2020-2033 (USD Billion) 

71. South Africa Revenue Assurance Market, By Vertical , 2020-2033 (USD Billion)  

List of Figures 

1. Global Revenue Assurance Market Segmentation

2. Revenue Assurance 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 Revenue Assurance Market Attractiveness Analysis By Deployment Model

9. Global Revenue Assurance Market Attractiveness Analysis By Component

10. Global Revenue Assurance Market Attractiveness Analysis By Vertical 

11. Global Revenue Assurance Market Attractiveness Analysis By Region

12. Global Revenue Assurance Market: Dynamics

13. Global Revenue Assurance Market Share By Deployment Model (2023 & 2033)

14. Global Revenue Assurance Market Share By Component (2023 & 2033)

15. Global Revenue Assurance Market Share By Vertical (2023 & 2033)

16. Global Revenue Assurance Market Share By Regions (2023 & 2033)

17. Global Revenue Assurance 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 Revenue Assurance market based on below mentioned segments:

Global Revenue Assurance Market by Deployment Model:

  • Cloud
  • On-premise 

Global Revenue Assurance Market by Component:

  • Services
  • Software

Global Revenue Assurance Market by Vertical:

  •  Retail
  • Telecom,
  • BFSI
  • Healthcare
  • Energy & Utilities
  • Others

Global Revenue Assurance 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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