Water desalination Market

Water Desalination Market Size by Application (Municipal, Industrial & Others), Source (Sea Water, Brackish Water, River Water & Others), Technology, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12700
  • Published Date: Aug, 2024
  • Pages: 239
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global water desalination market is expected to reach USD 38.10 billion by 2033, at a CAGR of 8.6% from 2024 to 2033. Water desalination market growth would be driven by the growing world population, depletion of freshwater resources, rapid urbanization & industrialization of developing economies. The improvement in desalination equipment credited to technological advancements will also contribute to the market's growth. The desalination process eliminates extra salts and minerals from various water sources such as seawater, brackish water, groundwater and surface water to make it capable of being used or consumed. To effectively move the water through membrane processes despite natural pressure barriers, driving factors like applied/vapor pressure, electric potential and concentration are required in separation techniques involving membranes. Therefore, this technology employs a significant amount of energy for its operation; hence, ongoing research aims to increase efficiency while decreasing energy expenditure. An outcome that comes with the desalination procedure is brine production.

Market Overview:

Water is an integral part of the living world. When hydrogen and oxygen combine in a 2:1 ratio, they form dihydrogen monoxide or water. Water exists in all states of matter, namely, solid, liquid, and gas. Water is transparent, tasteless, colorless, and an odorless substance. The earth is 71% water, and this 71% is called the hydrosphere. Water is the main constituent of the hydrosphere. However, only 3% of this water is freshwater, and the other 97% is in seas. The high concentration of salts in seawater makes it unfit for human consumption. Out of the 3% freshwater, 2.5% is in the form of ice present in the polar regions, which is not accessible, leaving only 0.5% accessible water for human consumption. The amount of water present on the earth which is fit for human consumption is not sufficient to meet the present demands or the future demand of the growing population. In addition to the scarcity of water, anthropogenic activities have led to overexploitation, contamination & wastage of these resources. The government and various stakeholders worldwide are looking at conservation measures to preserve water. One such measure is the desalination of water. Desalination is a purification process; it takes away the salts, minerals, and contaminants from seawater, brackish water, and contaminated water from rivers. The desalination process makes the water potable. The use of seawater & brackish water in the desalination process reduces the burden on freshwater sources such as lakes & rivers, allowing them to replenish. The increasing instances of water scarcity and droughts worldwide have made water desalination a popular choice to meet the rising water demands of the growing population. Water desalination enables the conservation of water resources for future generations, making it an important sustainable endeavor.

Water desalination Market Size

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Market Dynamics:

Drivers
  • The growing world population

The growing world population, rapid urbanization & industrialization has increased the demand for potable water. Water finds its applications in households, commercial sectors, manufacturing & construction. The existing freshwater supply on earth cannot meet the growing water demand. These resources are already over-exploited, which has led to its depletion and a scarcity of water across the globe. The need to have alternative sources of potable water is imperative. Water desalination is one such method. It can use the abundant seawater & brackish to meet the rising demand for potable water by the growing population.

Restraints:
  • Fouling & scaling

Fouling is the deposition of unwanted materials on surfaces during intense heating or cooling processes. Scaling is a type of fouling that happens in the water desalination process. The salts and minerals present in seawater & brackish water are deposited on the membranes used in the water desalination equipment. Scaling reduces the lifespan of the membranes. The frequent replacement adds to the operating costs. The use of disinfectants, anti-scaling, or pretreatments can prevent scaling to a certain extent. However, using these preventive measures is a costly affair and not affordable to many institutions present in the underdeveloped market.

Opportunities:
  • Emerging new & advanced hybrid desalination technologies

Hybrid distillation is the combination of thermal distillation & membrane separation processes. The hybrid technologies have lower installation & post-treatment costs. Also, these are highly efficient and provide a better gain to output ratio. Hybrid technologies are flexible and allow greater integration with various operating systems. These advancements cut production costs and make water desalination affordable to small companies, leading to market expansion.

Challenges:
  • Environmental concerns

The use of seawater & brackish water in the water desalination results in a heavy brine output. Brine is water with a very high concentration of salt. This brine is released into the environment, ocean, or inland. Brine is harmful to the marine ecosystem; it negatively impacts the inland flora and fauna & damages the soil by increasing its salinity. These effects are very detrimental to biodiversity both in the short term and long term.

Segmentation Analysis:

The global water desalination market has been segmented based on application, source, technology, and regions.

  • The application segment is divided into municipal, industrial & others. The municipal segment dominated the market, with a market share of around 57% in 2023. The rapid urbanization & development of megacities has led to an increase in the urban population. The prospect of better living has increased rural to urban migration and increased the population burden on urban agglomerations. The depletion of freshwater resources & water pollution have led to water scarcity. The most inexpensive and efficient solution to this problem is the application of water desalination by municipals. The water shortage and the growing urban population will drive the demand for water desalination in municipals.
  • The source segment is divided into seawater, brackish water, river water & others. Over the forecast period, the seawater segment is expected to grow at the fastest CAGR of 9.1%. The decline in freshwater resources and rising demand for potable water have created a supply deficit. Seawater as a source is present in abundance on earth, making it the most reliable source during the forecast period. The advancement in technologies to increase the gain to output ratio of potable water from seawater will drive the demand for this segment.
  • The technology segment is divided into reverse osmosis (RO), multi-stage flash (MSF) distillation, multi effect (ME) distillation & others. In 2023, the reverse osmosis segment dominated the market, accounting for around 46% of global revenue. The cost-effective and easy application nature of reverse osmosis is responsible for the rising market share. Reverse osmosis keeps the use of chemicals to a minimum, an added benefit driving the segment's growth.
Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Middle East and Africa emerged as the largest market for the global water desalination market, with a 33.8% share of the market revenue in 2023.

Middle East and Africa region Water Desalination Market Share in 2023 - 33.8%

 

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  • The Middle East and Africa region currently dominates the water desalination market due to the growing population of the region owing to the refugee crisis in the region, increasing government expenditure on reconstruction, and logistical infrastructure. The construction sector uses water in massive amounts, which will drive the water desalination market in the region. The Asia Pacific region is expected to grow during the forecast period following the rising water scarcity coupled with increasing water demand due to rapid urbanization.
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 water desalination industry.

Dupont produces SWRO membranes that are versatile and have ease of application. Membranes are products that have high permeability of water and impermeability of dissolved salts & particulate matter. They are very effective in water desalination. IDE Water Technologies select these membranes to install them in their Sorek B desalination plant in Israel.

List of Key Market Players:
  • SUEZ
  • Veolia
  • Doosan Heavy Industries & Construction
  • ACCIONA
  • IDE Water Technologies
  • Genesis Water Technologies
  • Biwater Holdings Limited
  • Mitsubishi Chemical Corporation
  • Aquatech International LLC
  • Aqua FilSep Inc.
Key Target Audience
  • Manufacturing Units
  • Market Players
  • Investors
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global water desalination 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, 2021 and 2022 are the historic years, and 2024 to 2033 are the forecast years. The global water desalination 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 segment, region, and country catering to the global water desalination market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of water desalination based on application, source, technology, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global water desalination 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 water desalination 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. Porter's five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related, i.e., global water desalination 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 water desalination market was valued at USD 16.85 billion in 2023 to USD 38.10 billion by 2033.

The global water desalination market is growing at a CAGR of 8.6% during the forecast period 2024-2033.

The Middle East & Africa region emerged as the largest market for water desalination.

The market's growth will be influenced by the growing world population.

Emerging new & advanced hybrid desalination technologies plans will provide huge opportunities to the market.

Key players are SUEZ, Veolia, Doosan Heavy Industries & Construction, ACCIONA, IDE Water Technologies, Genesis Water Technologies, Biwater Holdings Limited, Mitsubishi Chemical Corporation, Aquatech International LLC, and Aqua FilSep Inc.

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 Application
          4.3.2. Market Attractiveness Analysis by Source
          4.3.3. Market Attractiveness Analysis by Technology
          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 world population
    5.3. Restraints
          5.3.1. Fouling & scaling
    5.4. Opportunities
          5.4.1. Emerging new & advanced hybrid desalination technologies
    5.5. Challenges
          5.5.1. Environmental concerns

6. Global Water Desalination Market Analysis and Forecast, By Application
    6.1. Segment Overview
    6.2. Municipal
    6.3. Industrial
    6.4. Others

7. Global Water Desalination Market Analysis and Forecast, By Source
    7.1. Segment Overview
    7.2. Sea Water
    7.3. Brackish Water
    7.4. River Water

8. Global Water Desalination Market Analysis and Forecast, By Technology
    8.1. Segment Overview
    8.2. Reverse Osmosis (RO)
    8.3. Multi Stage Flash (MSF) Distillation
    8.4. Multi Effect (MF) Distillation

9. Global Water Desalination 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 Water Desalination Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Water Desalination 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. SUEZ
          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. Veolia
          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. Doosan Heavy Industries & Construction
          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. ACCIONA
          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. IDE Water Technologies
          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. Genesis Water Technologies
          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. Biwater Holdings Limited
          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. Mitsubishi Chemical Corporation
          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. Aquatech International LLC
          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. Aqua FilSep Inc.
          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 Water Desalination Market, By Application, 2020-2033 (USD Billion) 

2. Global Municipal Water Desalination Market, By Region, 2020-2033 (USD Billion) 

3. Global Industrial Water Desalination Market, By Region, 2020-2033 (USD Billion) 

4. Global Others Water Desalination Water Desalination Market, By Region, 2020-2033 (USD Billion) 

5. Global Water Desalination Market, By Source, 2020-2033 (USD Billion) 

6. Global Sea Water Desalination Market, By Region, 2020-2033 (USD Billion) 

7. Global Brackish Water Desalination Market, By Region, 2020-2033 (USD Billion) 

8. Global River Water Desalination Market, By Region, 2020-2033 (USD Billion) 

9. Global Others Water Desalination Market, By Region, 2020-2033 (USD Billion) 

10. Global Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

11. Global Reverse Osmosis (RO) Water Desalination Market, By Region, 2020-2033 (USD Billion) 

12. Global Multi Stage Flash (MSF) Distillation Water Desalination Market, By Region, 2020-2033 (USD Billion) 

13. Global Multi Effect (MF) Distillation Water Desalination Market, By Region, 2020-2033 (USD Billion) 

14. Global Others Water Desalination Market, By Region, 2020-2033 (USD Billion) 

15. Global Water Desalination Market, By Region, 2020-2033 (USD Billion) 

16. North America Water Desalination Market, By Application, 2020-2033 (USD Billion) 

17. North America Water Desalination Market, By Source, 2020-2033 (USD Billion) 

18. North America Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

19. U.S. Water Desalination Market, By Application, 2020-2033 (USD Billion) 

20. U.S. Water Desalination Market, By Source, 2020-2033 (USD Billion) 

21. U.S. Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

22. Canada Water Desalination Market, By Application, 2020-2033 (USD Billion) 

23. Canada Water Desalination Market, By Source, 2020-2033 (USD Billion) 

24. Canada Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

25. Mexico Water Desalination Market, By Application, 2020-2033 (USD Billion) 

26. Mexico Water Desalination Market, By Source, 2020-2033 (USD Billion) 

27. Mexico Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

28. Europe Water Desalination Market, By Application, 2020-2033 (USD Billion) 

29. Europe Water Desalination Market, By Source, 2020-2033 (USD Billion) 

30. Europe Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

31. Germany Water Desalination Market, By Application, 2020-2033 (USD Billion) 

32. Germany Water Desalination Market, By Source, 2020-2033 (USD Billion) 

33. Germany Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

34. France Water Desalination Market, By Application, 2020-2033 (USD Billion) 

35. France Water Desalination Market, By Source, 2020-2033 (USD Billion) 

36. France Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

37. U.K. Water Desalination Market, By Application, 2020-2033 (USD Billion) 

38. U.K. Water Desalination Market, By Source, 2020-2033 (USD Billion) 

39. U.K. Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

40. Italy Water Desalination Market, By Application, 2020-2033 (USD Billion) 

41. Italy Water Desalination Market, By Source, 2020-2033 (USD Billion) 

42. Italy Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

43. Spain Water Desalination Market, By Application, 2020-2033 (USD Billion) 

44. Spain Water Desalination Market, By Source, 2020-2033 (USD Billion) 

45. Spain Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

46. Asia Pacific Water Desalination Market, By Application, 2020-2033 (USD Billion) 

47. Asia Pacific Water Desalination Market, By Source, 2020-2033 (USD Billion) 

48. Asia Pacific Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

49. Japan Water Desalination Market, By Application, 2020-2033 (USD Billion) 

50. Japan Water Desalination Market, By Source, 2020-2033 (USD Billion) 

51. Japan Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

52. China Water Desalination Market, By Application, 2020-2033 (USD Billion) 

53. China Water Desalination Market, By Source, 2020-2033 (USD Billion) 

54. China Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

55. India Water Desalination Market, By Application, 2020-2033 (USD Billion) 

56. India Water Desalination Market, By Source, 2020-2033 (USD Billion) 

57. India Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

58. South America Water Desalination Market, By Application, 2020-2033 (USD Billion) 

59. South America Water Desalination Market, By Source, 2020-2033 (USD Billion) 

60. South America Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

61. Brazil Water Desalination Market, By Application, 2020-2033 (USD Billion) 

62. Brazil Water Desalination Market, By Source, 2020-2033 (USD Billion) 

63. Brazil Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

64. Middle East and Africa Water Desalination Market, By Application, 2020-2033 (USD Billion) 

65. Middle East and Africa Water Desalination Market, By Source, 2020-2033 (USD Billion) 

66. Middle East and Africa Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

67. UAE Water Desalination Market, By Application, 2020-2033 (USD Billion) 

68. UAE Water Desalination Market, By Source, 2020-2033 (USD Billion) 

69. UAE Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

70. South Africa Water Desalination Market, By Application, 2020-2033 (USD Billion) 

71. South Africa Water Desalination Market, By Source, 2020-2033 (USD Billion) 

72. South Africa Water Desalination Market, By Technology, 2020-2033 (USD Billion) 

List of Figures 

1. Global Water Desalination Market Segmentation

2. Water Desalination 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 Water Desalination Market Attractiveness Analysis by Application

9. Global Water Desalination Market Attractiveness Analysis by Source

10. Global Water Desalination Market Attractiveness Analysis by Technology

11. Global Water Desalination Market Attractiveness Analysis by Region

12. Global Water Desalination Market: Dynamics

13. Global Water Desalination Market Share by Application (2023 & 2033)

14. Global Water Desalination Market Share by Source (2023 & 2033)

15. Global Water Desalination Market Share by Technology (2023 & 2033)

16. Global Water Desalination Market Share by Regions (2023 & 2033)

17. Global Water Desalination 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 water desalination market based on below-mentioned segments:

Global Water Desalination Market by Application:

  • Municipal
  • Industrial
  • Others

Global Water Desalination Market by Source:

  • Sea Water
  • Brackish Water
  • River Water
  • Others

Global Water Desalination Market by Technology:

  • Reverse Osmosis (RO)
  • Multi Stage Flash (MSF) Distillation
  • Multi Effect (ME) Distillation

Global Water desalination 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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