All-Flash Array Market Developments by 2031
The All Flash Array Market is expected to register a CAGR of 22.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Storage Architecture (File, Object, Block), Flash Media (Custom Flash Modules (CFM), Solid-State Drives (SSD)), End User (Enterprise, Banking, Financial Services, and Insurance (BFSI), Healthcare, Media and Entertainment, Retail, Government, Cloud, Others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the ReportThe report All Flash Array Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
All Flash Array Market Segmentation
Storage Architecture- File
- Object
- Block
- Custom Flash Modules
- Enterprise
- Banking
- Financial Services
- Insurance
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- South and Central America
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- South and Central America
Strategic Insights
All Flash Array Market Growth Drivers- Increasing Data Storage Needs: The exponential growth of data in industries such as healthcare, finance, and e-commerce is a key driver for the all-flash array (AFA) market. Businesses require high-performance storage solutions to manage, store, and retrieve large volumes of data quickly and efficiently. AFAs, with their speed and low latency, meet these needs by offering faster data access and enhanced performance, making them an essential part of modern IT infrastructures.
- Demand for High-Performance Computing (HPC): The rise in demand for high-performance computing in sectors like artificial intelligence (AI), machine learning (ML), and big data analytics is fueling the growth of the AFA market. AFAs deliver the speed and performance required to handle large-scale, data-intensive applications, providing faster data processing, improved analytics, and better overall system performance.
- Adoption of Hybrid IT Environments: Many organizations are shifting towards hybrid IT environments, combining on-premises and cloud storage solutions. This trend is boosting the adoption of AFAs, as businesses require high-speed, on-premises storage systems to complement their cloud infrastructure. The flexibility of hybrid models allows businesses to leverage the best of both worlds while maintaining high performance.
- Integration of AI and Machine Learning in Storage Systems: The integration of AI and machine learning (ML) technologies into all-flash arrays is an emerging trend. These technologies optimize storage performance by automating data management, predicting failures, and improving data organization. As storage systems become more intelligent, the demand for advanced AFAs that incorporate these capabilities is expected to rise.
- Growing Adoption of Cloud and Edge Computing: As cloud computing and edge computing continue to expand, there is a growing need for fast, scalable, and efficient storage solutions. AFAs are well-positioned to meet the demands of both environments by offering low latency and high throughput. The need for real-time data processing at the edge and the growing reliance on cloud-based data storage presents a significant opportunity for AFAs.
- Rising Demand in Data-Intensive Industries: Industries such as media & entertainment, healthcare, and finance, which rely on large-scale data storage and high-speed access, present a lucrative opportunity for the AFA market. These sectors need robust and efficient storage solutions to handle high-resolution video files, medical imaging data, and large financial datasets, making AFAs the preferred choice.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the All Flash Array Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the All Flash Array Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The All Flash Array Market is estimated to witness a CAGR of 22.3% from 2023 to 2031
Increasing demand for high-performance storage solutions and increasing use in data centres are the major factors driving the all flash array market
Increasing use of AI/ML for storage management and optimizationis anticipated to play a significant role in the global all flash array market in the coming years
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 the request are an 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
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1All-Flash Array Market - By Flash Media
1.3.2All-Flash Array Market - By Storage Architecture/ Access Pattern
1.3.3All-Flash Array Market - By Industry Vertical
1.3.4All-Flash Array Market - By Region
1.3.4.1By Country
2.KEY TAKEWAYS
3.RESEARCH METHODOLOGY
4.ALL-FLASH ARRAY MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.ALL-FLASH ARRAY 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6.ALL-FLASH ARRAY MARKET - GLOBAL MARKET ANALYSIS
6.1.ALL-FLASH ARRAY - GLOBAL MARKET OVERVIEW
6.2.ALL-FLASH ARRAY - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.ALL-FLASH ARRAY MARKET - REVENUE AND FORECASTS TO 2028 - FLASH MEDIA
7.1.OVERVIEW
7.2.FLASH MEDIA MARKET FORECASTS AND ANALYSIS
7.3.CUSTOM FLASH MODULES
7.3.1.Overview
7.3.2.Custom Flash Modules Market Forecast and Analysis
7.4.SOLID-STATE DRIVES
7.4.1.Overview
7.4.2.Solid-State Drives Market Forecast and Analysis
8.ALL-FLASH ARRAY MARKET - REVENUE AND FORECASTS TO 2028 - STORAGE ARCHITECTURE/ ACCESS PATTERN
8.1.OVERVIEW
8.2.STORAGE ARCHITECTURE/ ACCESS PATTERN MARKET FORECASTS AND ANALYSIS
8.3.FILE
8.3.1.Overview
8.3.2.File Market Forecast and Analysis
8.4.OBJECT
8.4.1.Overview
8.4.2.Object Market Forecast and Analysis
8.5.BLOCK
8.5.1.Overview
8.5.2.Block Market Forecast and Analysis
9.ALL-FLASH ARRAY MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
9.1.OVERVIEW
9.2.INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
9.3.ENTERPRISE
9.3.1.Overview
9.3.2.Enterprise Market Forecast and Analysis
9.4.BFSI
9.4.1.Overview
9.4.2.BFSI Market Forecast and Analysis
9.5.HEALTHCARE
9.5.1.Overview
9.5.2.Healthcare Market Forecast and Analysis
9.6.MEDIA AND ENTERTAINMENT
9.6.1.Overview
9.6.2.Media and Entertainment Market Forecast and Analysis
9.7.RETAIL
9.7.1.Overview
9.7.2.Retail Market Forecast and Analysis
9.8.GOVERNMENT
9.8.1.Overview
9.8.2.Government Market Forecast and Analysis
9.9.CLOUD
9.9.1.Overview
9.9.2.Cloud Market Forecast and Analysis
9.10.TELECOM
9.10.1.Overview
9.10.2.Telecom Market Forecast and Analysis
10.ALL-FLASH ARRAY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America All-Flash Array Market Overview
10.1.2North America All-Flash Array Market Forecasts and Analysis
10.1.3North America All-Flash Array Market Forecasts and Analysis - By Flash Media
10.1.4North America All-Flash Array Market Forecasts and Analysis - By Storage Architecture/ Access Pattern
10.1.5North America All-Flash Array Market Forecasts and Analysis - By Industry Vertical
10.1.6North America All-Flash Array Market Forecasts and Analysis - By Countries
10.1.6.1United States All-Flash Array Market
10.1.6.1.1United States All-Flash Array Market by Flash Media
10.1.6.1.2United States All-Flash Array Market by Storage Architecture/ Access Pattern
10.1.6.1.3United States All-Flash Array Market by Industry Vertical
10.1.6.2Canada All-Flash Array Market
10.1.6.2.1Canada All-Flash Array Market by Flash Media
10.1.6.2.2Canada All-Flash Array Market by Storage Architecture/ Access Pattern
10.1.6.2.3Canada All-Flash Array Market by Industry Vertical
10.1.6.3Mexico All-Flash Array Market
10.1.6.3.1Mexico All-Flash Array Market by Flash Media
10.1.6.3.2Mexico All-Flash Array Market by Storage Architecture/ Access Pattern
10.1.6.3.3Mexico All-Flash Array Market by Industry Vertical
10.2.EUROPE
10.2.1Europe All-Flash Array Market Overview
10.2.2Europe All-Flash Array Market Forecasts and Analysis
10.2.3Europe All-Flash Array Market Forecasts and Analysis - By Flash Media
10.2.4Europe All-Flash Array Market Forecasts and Analysis - By Storage Architecture/ Access Pattern
10.2.5Europe All-Flash Array Market Forecasts and Analysis - By Industry Vertical
10.2.6Europe All-Flash Array Market Forecasts and Analysis - By Countries
10.2.6.1Germany All-Flash Array Market
10.2.6.1.1Germany All-Flash Array Market by Flash Media
10.2.6.1.2Germany All-Flash Array Market by Storage Architecture/ Access Pattern
10.2.6.1.3Germany All-Flash Array Market by Industry Vertical
10.2.6.2France All-Flash Array Market
10.2.6.2.1France All-Flash Array Market by Flash Media
10.2.6.2.2France All-Flash Array Market by Storage Architecture/ Access Pattern
10.2.6.2.3France All-Flash Array Market by Industry Vertical
10.2.6.3Italy All-Flash Array Market
10.2.6.3.1Italy All-Flash Array Market by Flash Media
10.2.6.3.2Italy All-Flash Array Market by Storage Architecture/ Access Pattern
10.2.6.3.3Italy All-Flash Array Market by Industry Vertical
10.2.6.4United Kingdom All-Flash Array Market
10.2.6.4.1United Kingdom All-Flash Array Market by Flash Media
10.2.6.4.2United Kingdom All-Flash Array Market by Storage Architecture/ Access Pattern
10.2.6.4.3United Kingdom All-Flash Array Market by Industry Vertical
10.2.6.5Rest of Europe All-Flash Array Market
10.2.6.5.1Rest of Europe All-Flash Array Market by Flash Media
10.2.6.5.2Rest of Europe All-Flash Array Market by Storage Architecture/ Access Pattern
10.2.6.5.3Rest of Europe All-Flash Array Market by Industry Vertical
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific All-Flash Array Market Overview
10.3.2Asia-Pacific All-Flash Array Market Forecasts and Analysis
10.3.3Asia-Pacific All-Flash Array Market Forecasts and Analysis - By Flash Media
10.3.4Asia-Pacific All-Flash Array Market Forecasts and Analysis - By Storage Architecture/ Access Pattern
10.3.5Asia-Pacific All-Flash Array Market Forecasts and Analysis - By Industry Vertical
10.3.6Asia-Pacific All-Flash Array Market Forecasts and Analysis - By Countries
10.3.6.1Australia All-Flash Array Market
10.3.6.1.1Australia All-Flash Array Market by Flash Media
10.3.6.1.2Australia All-Flash Array Market by Storage Architecture/ Access Pattern
10.3.6.1.3Australia All-Flash Array Market by Industry Vertical
10.3.6.2China All-Flash Array Market
10.3.6.2.1China All-Flash Array Market by Flash Media
10.3.6.2.2China All-Flash Array Market by Storage Architecture/ Access Pattern
10.3.6.2.3China All-Flash Array Market by Industry Vertical
10.3.6.3India All-Flash Array Market
10.3.6.3.1India All-Flash Array Market by Flash Media
10.3.6.3.2India All-Flash Array Market by Storage Architecture/ Access Pattern
10.3.6.3.3India All-Flash Array Market by Industry Vertical
10.3.6.4Japan All-Flash Array Market
10.3.6.4.1Japan All-Flash Array Market by Flash Media
10.3.6.4.2Japan All-Flash Array Market by Storage Architecture/ Access Pattern
10.3.6.4.3Japan All-Flash Array Market by Industry Vertical
10.3.6.5South Korea All-Flash Array Market
10.3.6.5.1South Korea All-Flash Array Market by Flash Media
10.3.6.5.2South Korea All-Flash Array Market by Storage Architecture/ Access Pattern
10.3.6.5.3South Korea All-Flash Array Market by Industry Vertical
10.3.6.6Rest of Asia-Pacific All-Flash Array Market
10.3.6.6.1Rest of Asia-Pacific All-Flash Array Market by Flash Media
10.3.6.6.2Rest of Asia-Pacific All-Flash Array Market by Storage Architecture/ Access Pattern
10.3.6.6.3Rest of Asia-Pacific All-Flash Array Market by Industry Vertical
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa All-Flash Array Market Overview
10.4.2Middle East and Africa All-Flash Array Market Forecasts and Analysis
10.4.3Middle East and Africa All-Flash Array Market Forecasts and Analysis - By Flash Media
10.4.4Middle East and Africa All-Flash Array Market Forecasts and Analysis - By Storage Architecture/ Access Pattern
10.4.5Middle East and Africa All-Flash Array Market Forecasts and Analysis - By Industry Vertical
10.4.6Middle East and Africa All-Flash Array Market Forecasts and Analysis - By Countries
10.4.6.1South Africa All-Flash Array Market
10.4.6.1.1South Africa All-Flash Array Market by Flash Media
10.4.6.1.2South Africa All-Flash Array Market by Storage Architecture/ Access Pattern
10.4.6.1.3South Africa All-Flash Array Market by Industry Vertical
10.4.6.2Saudi Arabia All-Flash Array Market
10.4.6.2.1Saudi Arabia All-Flash Array Market by Flash Media
10.4.6.2.2Saudi Arabia All-Flash Array Market by Storage Architecture/ Access Pattern
10.4.6.2.3Saudi Arabia All-Flash Array Market by Industry Vertical
10.4.6.3U.A.E All-Flash Array Market
10.4.6.3.1U.A.E All-Flash Array Market by Flash Media
10.4.6.3.2U.A.E All-Flash Array Market by Storage Architecture/ Access Pattern
10.4.6.3.3U.A.E All-Flash Array Market by Industry Vertical
10.4.6.4Rest of Middle East and Africa All-Flash Array Market
10.4.6.4.1Rest of Middle East and Africa All-Flash Array Market by Flash Media
10.4.6.4.2Rest of Middle East and Africa All-Flash Array Market by Storage Architecture/ Access Pattern
10.4.6.4.3Rest of Middle East and Africa All-Flash Array Market by Industry Vertical
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America All-Flash Array Market Overview
10.5.2South and Central America All-Flash Array Market Forecasts and Analysis
10.5.3South and Central America All-Flash Array Market Forecasts and Analysis - By Flash Media
10.5.4South and Central America All-Flash Array Market Forecasts and Analysis - By Storage Architecture/ Access Pattern
10.5.5South and Central America All-Flash Array Market Forecasts and Analysis - By Industry Vertical
10.5.6South and Central America All-Flash Array Market Forecasts and Analysis - By Countries
10.5.6.1Brazil All-Flash Array Market
10.5.6.1.1Brazil All-Flash Array Market by Flash Media
10.5.6.1.2Brazil All-Flash Array Market by Storage Architecture/ Access Pattern
10.5.6.1.3Brazil All-Flash Array Market by Industry Vertical
10.5.6.2Argentina All-Flash Array Market
10.5.6.2.1Argentina All-Flash Array Market by Flash Media
10.5.6.2.2Argentina All-Flash Array Market by Storage Architecture/ Access Pattern
10.5.6.2.3Argentina All-Flash Array Market by Industry Vertical
10.5.6.3Rest of South and Central America All-Flash Array Market
10.5.6.3.1Rest of South and Central America All-Flash Array Market by Flash Media
10.5.6.3.2Rest of South and Central America All-Flash Array Market by Storage Architecture/ Access Pattern
10.5.6.3.3Rest of South and Central America All-Flash Array Market by Industry Vertical
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.ALL-FLASH ARRAY MARKET, KEY COMPANY PROFILES
12.1.DELL INC.
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.HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP
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.HITACHI, LTD.
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.HUAWEI TECHNOLOGIES CO., LTD.
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.IBM
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.KAMINARIO
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.MICRON TECHNOLOGY, INC.
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.NETAPP
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.PURE STORAGE, 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.WESTERN DIGITAL CORPORATION
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
1. Dell Inc.
2. Hewlett Packard Enterprise Development LP
3. Hitachi, Ltd.
4. Huawei Technologies Co. , Ltd.
5. IBM
6. Kaminario
7. Micron Technology, Inc.
8. NetApp
9. Pure Storage, Inc.
10. Western Digital Corporation
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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