AB Testing Tool Market SWOT Analysis by 2031
The AB Testing Tool market is expected to register a CAGR of 12.1% during 2023–2031. Integration with analytics tools and server-side testing solutions are likely to remain key trends in the market.
AB Testing Tool Market Analysis
- A/B testing, split testing or bucket testing is a method of comparing two versions of a website or mobile app to each other to determine which one performs better.
- In simple terms, A/B testing is an experiment in which consumers are presented with two or more different versions of a website at random and through statistical analysis, the variation that converts the highest is determined.
- A majority of business decisions nowadays are influenced by data, which facilitates a data-driven approach to business.
- The demand for AB testing tools has skyrocketed because companies are using them to optimize their websites and mobile applications for a better User Experience and high conversion rates.
- The competition is fierce, with an overwhelming number of options. It is a fast-evolving, innovative and inexpensive market.
AB Testing Tool Market Overview
- Based on in-depth research by analysts and contributors, it's found that the industry is expected to have a staggering CAGR over the given period of time.
- The market is growing at a fast pace due to a number of factors, such as the growth of E-commerce and digital platforms, Data-Driven Marketing and Increased Mobile browsing.
- A/B Testing tools offer lots of insights and have a positive impact on business growth, like positive customer experience, reduced cost and increased sales and conversions. It has a rich ecosystem of tools and services, enabling businesses with competitive advantage through data-driven optimisation of their websites.
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AB Testing Tool Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
AB Testing Tool Market: Strategic Insights
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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AB Testing Tool Market Drivers and Opportunities
Rising Need for Optimizing Customer Experience to Favor the Market
- The approaching scenario underlines the urgency of optimizing customer experience, and as a result, AB testing tools gain mainstream adoption. It empowers companies with a scientific and data-driven approach to their decision-making.
- Through AB testing tools, we are able to measure and collect users’ on-site behaviour and preferences. The insight derived will enable companies to decide what’s the most visually appealing or engaging elements of their websites or mobile apps.
- By maximizing users’ engagement, everyone from the business owner to the navigation experience will experience a win-win outcome.
Demand for Advanced Targeting Solutions
- One of the main factors creating opportunities for AB testing solutions can be attributed to its capabilities to advance the sophistication of targeting.
- Enterprises now search for more solutions that offer sophisticated targeting options, such as first-party cookie targeting, audience targeting, geotargeting, and behavioural targeting.
- With the help of those sophisticated targeting tools, the companies can help the clients with more personalized and relevant experiences, that make the clients happier, more engaging, and even more converting.
AB Testing Tool Market Report Segmentation Analysis
Key segments that contributed to the derivation of the AB Testing Tool market analysis are component and end user.
- Based on component, the 5G in the VR market is divided into tools and services.
- Based on end users, the 5G in the VR market is divided into agencies, e-commerce, lead generation, and others.
AB Testing Tool Market Share Analysis by Geography
- AB Testing Tool Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering AB Testing Tool market dynamics, such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the AB Testing Tool market in these regions.
AB Testing Tool Market Report Scope
AB Testing Tool Market News and Recent Developments
The AB Testing Tool market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the AB Testing Tool market are listed below:
- AB Tasty revealed a new brand identity that is in line with their "test and learn" philosophy and is revolutionizing experience optimization through cutting-edge knowledge and creativity. A year of remarkable expansion that included the addition of a new AI technology acquisition to broaden their personalization offering solidified AB Tasty's position as a leading partner in experience optimization. By fusing an all-in-one platform with in-depth client knowledge, the company enables brands to connect with consumers on a whole new level. (Source: AB Tasty, Inc, Press Release, February 2024)
AB Testing Tool Market Report Coverage and Deliverables
The “AB Testing Tool Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- AB Testing Tool market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- AB Testing Tool market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- AB Testing Tool market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the AB Testing Tool market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global AB Testing Tool market is expected to grow at a CAGR of 12.1% during the forecast period 2023 - 2031.
The rising need for optimizing customer experience and growing adoption and awareness are expected to drive the AB Testing Tool market.
Integration with analytics tools and server-side testing solutions are likely to remain key trends in the market.
The leading players operating in the AB Testing Tool market are AB TASTY, Adobe, Convert Inc., Crazy Egg, Inc., Evolv Technology Solutions, Inc., Google Inc., Optimizely, Qubit, and SiteSpect, Inc.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 AB Testing Tools Market - By Component
1.3.2 AB Testing Tools Market - By Deployment
1.3.3 AB Testing Tools Market - By End User
1.3.4 AB Testing Tools Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AB TESTING TOOLS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AB TESTING TOOLS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AB TESTING TOOLS MARKET - GLOBAL MARKET ANALYSIS
6.1. AB TESTING TOOLS - GLOBAL MARKET OVERVIEW
6.2. AB TESTING TOOLS - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. AB TESTING TOOLS MARKET - REVENUE AND FORECASTS TO 2027 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. TOOLS
7.3.1. Overview
7.3.2. Tools Market Forecast and Analysis
7.4. SERVICES
7.4.1. Overview
7.4.2. Services Market Forecast and Analysis
8. AB TESTING TOOLS MARKET - REVENUE AND FORECASTS TO 2027 - DEPLOYMENT
8.1. OVERVIEW
8.2. DEPLOYMENT MARKET FORECASTS AND ANALYSIS
8.3. CLOUD
8.3.1. Overview
8.3.2. Cloud Market Forecast and Analysis
8.4. ON-PREMISE
8.4.1. Overview
8.4.2. On-Premise Market Forecast and Analysis
9. AB TESTING TOOLS MARKET - REVENUE AND FORECASTS TO 2027 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. AGENCIES
9.3.1. Overview
9.3.2. Agencies Market Forecast and Analysis
9.4. E-COMMERCE
9.4.1. Overview
9.4.2. E-Commerce Market Forecast and Analysis
9.5. LEAD GENERATION
9.5.1. Overview
9.5.2. Lead Generation Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. AB TESTING TOOLS MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America AB Testing Tools Market Overview
10.1.2 North America AB Testing Tools Market Forecasts and Analysis
10.1.3 North America AB Testing Tools Market Forecasts and Analysis - By Component
10.1.4 North America AB Testing Tools Market Forecasts and Analysis - By Deployment
10.1.5 North America AB Testing Tools Market Forecasts and Analysis - By End User
10.1.6 North America AB Testing Tools Market Forecasts and Analysis - By Countries
10.1.6.1 United States AB Testing Tools Market
10.1.6.1.1 United States AB Testing Tools Market by Component
10.1.6.1.2 United States AB Testing Tools Market by Deployment
10.1.6.1.3 United States AB Testing Tools Market by End User
10.1.6.2 Canada AB Testing Tools Market
10.1.6.2.1 Canada AB Testing Tools Market by Component
10.1.6.2.2 Canada AB Testing Tools Market by Deployment
10.1.6.2.3 Canada AB Testing Tools Market by End User
10.1.6.3 Mexico AB Testing Tools Market
10.1.6.3.1 Mexico AB Testing Tools Market by Component
10.1.6.3.2 Mexico AB Testing Tools Market by Deployment
10.1.6.3.3 Mexico AB Testing Tools Market by End User
10.2. EUROPE
10.2.1 Europe AB Testing Tools Market Overview
10.2.2 Europe AB Testing Tools Market Forecasts and Analysis
10.2.3 Europe AB Testing Tools Market Forecasts and Analysis - By Component
10.2.4 Europe AB Testing Tools Market Forecasts and Analysis - By Deployment
10.2.5 Europe AB Testing Tools Market Forecasts and Analysis - By End User
10.2.6 Europe AB Testing Tools Market Forecasts and Analysis - By Countries
10.2.6.1 Germany AB Testing Tools Market
10.2.6.1.1 Germany AB Testing Tools Market by Component
10.2.6.1.2 Germany AB Testing Tools Market by Deployment
10.2.6.1.3 Germany AB Testing Tools Market by End User
10.2.6.2 France AB Testing Tools Market
10.2.6.2.1 France AB Testing Tools Market by Component
10.2.6.2.2 France AB Testing Tools Market by Deployment
10.2.6.2.3 France AB Testing Tools Market by End User
10.2.6.3 Italy AB Testing Tools Market
10.2.6.3.1 Italy AB Testing Tools Market by Component
10.2.6.3.2 Italy AB Testing Tools Market by Deployment
10.2.6.3.3 Italy AB Testing Tools Market by End User
10.2.6.4 United Kingdom AB Testing Tools Market
10.2.6.4.1 United Kingdom AB Testing Tools Market by Component
10.2.6.4.2 United Kingdom AB Testing Tools Market by Deployment
10.2.6.4.3 United Kingdom AB Testing Tools Market by End User
10.2.6.5 Russia AB Testing Tools Market
10.2.6.5.1 Russia AB Testing Tools Market by Component
10.2.6.5.2 Russia AB Testing Tools Market by Deployment
10.2.6.5.3 Russia AB Testing Tools Market by End User
10.2.6.6 Rest of Europe AB Testing Tools Market
10.2.6.6.1 Rest of Europe AB Testing Tools Market by Component
10.2.6.6.2 Rest of Europe AB Testing Tools Market by Deployment
10.2.6.6.3 Rest of Europe AB Testing Tools Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific AB Testing Tools Market Overview
10.3.2 Asia-Pacific AB Testing Tools Market Forecasts and Analysis
10.3.3 Asia-Pacific AB Testing Tools Market Forecasts and Analysis - By Component
10.3.4 Asia-Pacific AB Testing Tools Market Forecasts and Analysis - By Deployment
10.3.5 Asia-Pacific AB Testing Tools Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific AB Testing Tools Market Forecasts and Analysis - By Countries
10.3.6.1 Australia AB Testing Tools Market
10.3.6.1.1 Australia AB Testing Tools Market by Component
10.3.6.1.2 Australia AB Testing Tools Market by Deployment
10.3.6.1.3 Australia AB Testing Tools Market by End User
10.3.6.2 China AB Testing Tools Market
10.3.6.2.1 China AB Testing Tools Market by Component
10.3.6.2.2 China AB Testing Tools Market by Deployment
10.3.6.2.3 China AB Testing Tools Market by End User
10.3.6.3 India AB Testing Tools Market
10.3.6.3.1 India AB Testing Tools Market by Component
10.3.6.3.2 India AB Testing Tools Market by Deployment
10.3.6.3.3 India AB Testing Tools Market by End User
10.3.6.4 Japan AB Testing Tools Market
10.3.6.4.1 Japan AB Testing Tools Market by Component
10.3.6.4.2 Japan AB Testing Tools Market by Deployment
10.3.6.4.3 Japan AB Testing Tools Market by End User
10.3.6.5 South Korea AB Testing Tools Market
10.3.6.5.1 South Korea AB Testing Tools Market by Component
10.3.6.5.2 South Korea AB Testing Tools Market by Deployment
10.3.6.5.3 South Korea AB Testing Tools Market by End User
10.3.6.6 Rest of Asia-Pacific AB Testing Tools Market
10.3.6.6.1 Rest of Asia-Pacific AB Testing Tools Market by Component
10.3.6.6.2 Rest of Asia-Pacific AB Testing Tools Market by Deployment
10.3.6.6.3 Rest of Asia-Pacific AB Testing Tools Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa AB Testing Tools Market Overview
10.4.2 Middle East and Africa AB Testing Tools Market Forecasts and Analysis
10.4.3 Middle East and Africa AB Testing Tools Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa AB Testing Tools Market Forecasts and Analysis - By Deployment
10.4.5 Middle East and Africa AB Testing Tools Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa AB Testing Tools Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa AB Testing Tools Market
10.4.6.1.1 South Africa AB Testing Tools Market by Component
10.4.6.1.2 South Africa AB Testing Tools Market by Deployment
10.4.6.1.3 South Africa AB Testing Tools Market by End User
10.4.6.2 Saudi Arabia AB Testing Tools Market
10.4.6.2.1 Saudi Arabia AB Testing Tools Market by Component
10.4.6.2.2 Saudi Arabia AB Testing Tools Market by Deployment
10.4.6.2.3 Saudi Arabia AB Testing Tools Market by End User
10.4.6.3 U.A.E AB Testing Tools Market
10.4.6.3.1 U.A.E AB Testing Tools Market by Component
10.4.6.3.2 U.A.E AB Testing Tools Market by Deployment
10.4.6.3.3 U.A.E AB Testing Tools Market by End User
10.4.6.4 Rest of Middle East and Africa AB Testing Tools Market
10.4.6.4.1 Rest of Middle East and Africa AB Testing Tools Market by Component
10.4.6.4.2 Rest of Middle East and Africa AB Testing Tools Market by Deployment
10.4.6.4.3 Rest of Middle East and Africa AB Testing Tools Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America AB Testing Tools Market Overview
10.5.2 South and Central America AB Testing Tools Market Forecasts and Analysis
10.5.3 South and Central America AB Testing Tools Market Forecasts and Analysis - By Component
10.5.4 South and Central America AB Testing Tools Market Forecasts and Analysis - By Deployment
10.5.5 South and Central America AB Testing Tools Market Forecasts and Analysis - By End User
10.5.6 South and Central America AB Testing Tools Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil AB Testing Tools Market
10.5.6.1.1 Brazil AB Testing Tools Market by Component
10.5.6.1.2 Brazil AB Testing Tools Market by Deployment
10.5.6.1.3 Brazil AB Testing Tools Market by End User
10.5.6.2 Argentina AB Testing Tools Market
10.5.6.2.1 Argentina AB Testing Tools Market by Component
10.5.6.2.2 Argentina AB Testing Tools Market by Deployment
10.5.6.2.3 Argentina AB Testing Tools Market by End User
10.5.6.3 Rest of South and Central America AB Testing Tools Market
10.5.6.3.1 Rest of South and Central America AB Testing Tools Market by Component
10.5.6.3.2 Rest of South and Central America AB Testing Tools Market by Deployment
10.5.6.3.3 Rest of South and Central America AB Testing Tools Market by End User
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. AB TESTING TOOLS MARKET, KEY COMPANY PROFILES
12.1. AB TASTY
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. ADOBE
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. CONVERT INC.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. CRAZY EGG, INC
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. EVOLV TECHNOLOGY SOLUTIONS, INC.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. GOOGLE INC.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. OPTIMIZELY
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. QUBIT
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SITESPECT, INC.
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. VWO (WINGIFY SOFTWARE PVT. LTD.)
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. AB TASTY
2. Adobe
3. Convert Inc.
4. Crazy Egg, Inc
5. Evolv Technology Solutions, Inc.
6. Google Inc.
7. Optimizely
8. Qubit
9. SiteSpect, Inc.
10. VWO (Wingify Software Pvt. Ltd.)
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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