Blockchain IoT Market Trends, Share, and Growth (2021-2031)
The Blockchain IoT market is expected to expand at a CAGR of 57.6% from 2023 to 2031. Interoperability solutions and tokenization of assets are likely to be key trends in the market.
Blockchain IoT Market Analysis
- The blockchain IoT market is experiencing considerable development and disruption as the confluence of blockchain technology and the Internet of Things (IoT) opens up new potential for enterprises.
- The blockchain IoT industry is driven by the demand for increased security and trust while also providing prospects for faster procedures, higher efficiency, and new business models.
- This encompasses data monetization, sharing economies, and pay-per-use services. With the potential to disrupt different industries, the blockchain IoT industry is rapidly expanding and gaining interest from both enterprises and technology enthusiasts.
- As the technology matures and novel use cases emerge, the blockchain IoT market is primed for greater growth and disruption in the coming years.
Blockchain IoT Market Overview
- IoT-derived data can be useful to other industries such as healthcare, agriculture or smart cities. The blockchain IoT market has tremendous business prospects, mainly through increased security and ease of operations, new business models and better data management.
- The blockchain IoT business is a growing sector at the intersection of blockchain technology and the fast-growing IoT. Simply put, blockchain is a decentralized, immutable database that securely and transparently records transactions across various devices or nodes.
- In contrast, the Internet of Things (IoT) is a network of physical devices embedded with sensors, software, and connectivity that exchange data and interact with their surroundings.
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Blockchain IoT 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.
Blockchain IoT 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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Blockchain IoT Market Drivers and Opportunities
Enhanced Security
- One of the primary drivers of the blockchain IoT industry is the greater security and trust provided by blockchain technology. Traditional centralized systems are susceptible to cyber attacks, data tampering, and single points of failure.
- Data can be stored in a decentralized and immutable format using blockchain and IoT, ensuring transparency, integrity, and security. This driver is especially essential in areas such as supply chain management, healthcare, and energy, where data integrity and security are critical.
Streamlined and Efficient Processes
- Blockchain IoT offers great prospects for streamlining and optimizing operations. Smart contracts, backed by blockchain, allow for automated and self-executing agreements between IoT devices. This eliminates the need for intermediaries, lowering expenses and increasing operating efficiency.
- Additionally, blockchain allows for real-time tracking and verification of IoT device interactions and transactions, decreasing complications and improving interoperability.
- Logistics, manufacturing, and finance industries can all benefit from this potential to improve supply chain management, traceability, and financial transaction efficiency.
Blockchain IoT Market Report Segmentation Analysis
The key segments that contributed to the derivation of the Blockchain IoT market analysis are vehicle, distribution channel, and coverage.
- By component, the market is divided into hardware, software, and services.
- By organization size, the market is segmented into SMEs and large enterprises.
- Based on vertical, the market is divided into transportation & logistics, manufacturing, healthcare, retail, consumer electronics, and others.
Blockchain IoT Market Share Analysis By Geography
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.
- Blockchain IoT 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 Blockchain IoT 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 Blockchain IoT market in these regions.
Blockchain IoT Market Report Scope
Blockchain IoT Market News and Recent Developments
The Blockchain IoT 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 Blockchain IoT market are listed below:
- Cisco Redefined Cybersecurity Defense with Powerful, Portfolio-Wide Artificial Intelligence Capabilities. The AI Assistant will help customers make informed decisions, augment their tool capabilities and automate complex tasks. (Source: Cisco Systems Inc., Press Release, December 2023)
- Intel launched new Intel Blockbase technology for energy-efficient blockchain hashing. Compute requirements for blockchains utilizing proof-of-work consensus mechanisms are growing at a rapid rate due to their resiliency and ability to scale without sacrificing decentralization. This growing pool of computing power requires an enormous amount of energy, necessitating new computing technologies that can provide the requisite power in a more energy-efficient manner while also being durable enough to mitigate long-term e-waste concerns. (Source: Intel Corporation, Newsroom, April 2022)
Blockchain IoT Market Report Coverage & Deliverables
The Blockchain IoT market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Blockchain IoT Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
- Blockchain IoT market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Blockchain IoT market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Blockchain IoT 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 in the Blockchain IoT 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 Blockchain IoT market is estimated to grow at a CAGR of 57.6% during 2023 - 2031.
Improved data management and analytics enhanced security are the major factors that drive the global Blockchain IoT market.
Interoperability solutions and tokenization of assets are likely to be key trends in the market.
Intel Corporation, IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., The Linux Foundation, Amazon.com, Inc., KrypC Technologies, IoTex, ArcTouch LLC, and R3 LLC are the major market players.
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
Some of the customization options available based on the request are additional 3–5 company profiles and a 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 Blockchain IoT Market - By Component
1.3.2 Blockchain IoT Market - By Application
1.3.3 Blockchain IoT Market - By Industry Vertical
1.3.4 Blockchain IoT Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BLOCKCHAIN IOT 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. BLOCKCHAIN IOT 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. BLOCKCHAIN IOT MARKET - GLOBAL MARKET ANALYSIS
6.1. BLOCKCHAIN IOT - GLOBAL MARKET OVERVIEW
6.2. BLOCKCHAIN IOT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BLOCKCHAIN IOT MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
8. BLOCKCHAIN IOT MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ASSET TRACKING AND MANAGEMENT
8.3.1. Overview
8.3.2. Asset Tracking and Management Market Forecast and Analysis
8.4. DATA SECURITY
8.4.1. Overview
8.4.2. Data Security Market Forecast and Analysis
8.5. SMART CONTRACT
8.5.1. Overview
8.5.2. Smart Contract Market Forecast and Analysis
8.6. DATA SHARING
8.6.1. Overview
8.6.2. Data Sharing Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. BLOCKCHAIN IOT MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
9.1. OVERVIEW
9.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
9.3. MANUFACTURING
9.3.1. Overview
9.3.2. Manufacturing Market Forecast and Analysis
9.4. ENERGY AND UTILITY
9.4.1. Overview
9.4.2. Energy and Utility Market Forecast and Analysis
9.5. HEALTHCARE
9.5.1. Overview
9.5.2. Healthcare Market Forecast and Analysis
9.6. TRANSPORTATION AND LOGISTICS
9.6.1. Overview
9.6.2. Transportation and Logistics Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. BLOCKCHAIN IOT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Blockchain IoT Market Overview
10.1.2 North America Blockchain IoT Market Forecasts and Analysis
10.1.3 North America Blockchain IoT Market Forecasts and Analysis - By Component
10.1.4 North America Blockchain IoT Market Forecasts and Analysis - By Application
10.1.5 North America Blockchain IoT Market Forecasts and Analysis - By Industry Vertical
10.1.6 North America Blockchain IoT Market Forecasts and Analysis - By Countries
10.1.6.1 United States Blockchain IoT Market
10.1.6.1.1 United States Blockchain IoT Market by Component
10.1.6.1.2 United States Blockchain IoT Market by Application
10.1.6.1.3 United States Blockchain IoT Market by Industry Vertical
10.1.6.2 Canada Blockchain IoT Market
10.1.6.2.1 Canada Blockchain IoT Market by Component
10.1.6.2.2 Canada Blockchain IoT Market by Application
10.1.6.2.3 Canada Blockchain IoT Market by Industry Vertical
10.1.6.3 Mexico Blockchain IoT Market
10.1.6.3.1 Mexico Blockchain IoT Market by Component
10.1.6.3.2 Mexico Blockchain IoT Market by Application
10.1.6.3.3 Mexico Blockchain IoT Market by Industry Vertical
10.2. EUROPE
10.2.1 Europe Blockchain IoT Market Overview
10.2.2 Europe Blockchain IoT Market Forecasts and Analysis
10.2.3 Europe Blockchain IoT Market Forecasts and Analysis - By Component
10.2.4 Europe Blockchain IoT Market Forecasts and Analysis - By Application
10.2.5 Europe Blockchain IoT Market Forecasts and Analysis - By Industry Vertical
10.2.6 Europe Blockchain IoT Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Blockchain IoT Market
10.2.6.1.1 Germany Blockchain IoT Market by Component
10.2.6.1.2 Germany Blockchain IoT Market by Application
10.2.6.1.3 Germany Blockchain IoT Market by Industry Vertical
10.2.6.2 France Blockchain IoT Market
10.2.6.2.1 France Blockchain IoT Market by Component
10.2.6.2.2 France Blockchain IoT Market by Application
10.2.6.2.3 France Blockchain IoT Market by Industry Vertical
10.2.6.3 Italy Blockchain IoT Market
10.2.6.3.1 Italy Blockchain IoT Market by Component
10.2.6.3.2 Italy Blockchain IoT Market by Application
10.2.6.3.3 Italy Blockchain IoT Market by Industry Vertical
10.2.6.4 United Kingdom Blockchain IoT Market
10.2.6.4.1 United Kingdom Blockchain IoT Market by Component
10.2.6.4.2 United Kingdom Blockchain IoT Market by Application
10.2.6.4.3 United Kingdom Blockchain IoT Market by Industry Vertical
10.2.6.5 Russia Blockchain IoT Market
10.2.6.5.1 Russia Blockchain IoT Market by Component
10.2.6.5.2 Russia Blockchain IoT Market by Application
10.2.6.5.3 Russia Blockchain IoT Market by Industry Vertical
10.2.6.6 Rest of Europe Blockchain IoT Market
10.2.6.6.1 Rest of Europe Blockchain IoT Market by Component
10.2.6.6.2 Rest of Europe Blockchain IoT Market by Application
10.2.6.6.3 Rest of Europe Blockchain IoT Market by Industry Vertical
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Blockchain IoT Market Overview
10.3.2 Asia-Pacific Blockchain IoT Market Forecasts and Analysis
10.3.3 Asia-Pacific Blockchain IoT Market Forecasts and Analysis - By Component
10.3.4 Asia-Pacific Blockchain IoT Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Blockchain IoT Market Forecasts and Analysis - By Industry Vertical
10.3.6 Asia-Pacific Blockchain IoT Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Blockchain IoT Market
10.3.6.1.1 Australia Blockchain IoT Market by Component
10.3.6.1.2 Australia Blockchain IoT Market by Application
10.3.6.1.3 Australia Blockchain IoT Market by Industry Vertical
10.3.6.2 China Blockchain IoT Market
10.3.6.2.1 China Blockchain IoT Market by Component
10.3.6.2.2 China Blockchain IoT Market by Application
10.3.6.2.3 China Blockchain IoT Market by Industry Vertical
10.3.6.3 India Blockchain IoT Market
10.3.6.3.1 India Blockchain IoT Market by Component
10.3.6.3.2 India Blockchain IoT Market by Application
10.3.6.3.3 India Blockchain IoT Market by Industry Vertical
10.3.6.4 Japan Blockchain IoT Market
10.3.6.4.1 Japan Blockchain IoT Market by Component
10.3.6.4.2 Japan Blockchain IoT Market by Application
10.3.6.4.3 Japan Blockchain IoT Market by Industry Vertical
10.3.6.5 South Korea Blockchain IoT Market
10.3.6.5.1 South Korea Blockchain IoT Market by Component
10.3.6.5.2 South Korea Blockchain IoT Market by Application
10.3.6.5.3 South Korea Blockchain IoT Market by Industry Vertical
10.3.6.6 Rest of Asia-Pacific Blockchain IoT Market
10.3.6.6.1 Rest of Asia-Pacific Blockchain IoT Market by Component
10.3.6.6.2 Rest of Asia-Pacific Blockchain IoT Market by Application
10.3.6.6.3 Rest of Asia-Pacific Blockchain IoT Market by Industry Vertical
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Blockchain IoT Market Overview
10.4.2 Middle East and Africa Blockchain IoT Market Forecasts and Analysis
10.4.3 Middle East and Africa Blockchain IoT Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa Blockchain IoT Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Blockchain IoT Market Forecasts and Analysis - By Industry Vertical
10.4.6 Middle East and Africa Blockchain IoT Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Blockchain IoT Market
10.4.6.1.1 South Africa Blockchain IoT Market by Component
10.4.6.1.2 South Africa Blockchain IoT Market by Application
10.4.6.1.3 South Africa Blockchain IoT Market by Industry Vertical
10.4.6.2 Saudi Arabia Blockchain IoT Market
10.4.6.2.1 Saudi Arabia Blockchain IoT Market by Component
10.4.6.2.2 Saudi Arabia Blockchain IoT Market by Application
10.4.6.2.3 Saudi Arabia Blockchain IoT Market by Industry Vertical
10.4.6.3 U.A.E Blockchain IoT Market
10.4.6.3.1 U.A.E Blockchain IoT Market by Component
10.4.6.3.2 U.A.E Blockchain IoT Market by Application
10.4.6.3.3 U.A.E Blockchain IoT Market by Industry Vertical
10.4.6.4 Rest of Middle East and Africa Blockchain IoT Market
10.4.6.4.1 Rest of Middle East and Africa Blockchain IoT Market by Component
10.4.6.4.2 Rest of Middle East and Africa Blockchain IoT Market by Application
10.4.6.4.3 Rest of Middle East and Africa Blockchain IoT Market by Industry Vertical
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Blockchain IoT Market Overview
10.5.2 South and Central America Blockchain IoT Market Forecasts and Analysis
10.5.3 South and Central America Blockchain IoT Market Forecasts and Analysis - By Component
10.5.4 South and Central America Blockchain IoT Market Forecasts and Analysis - By Application
10.5.5 South and Central America Blockchain IoT Market Forecasts and Analysis - By Industry Vertical
10.5.6 South and Central America Blockchain IoT Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Blockchain IoT Market
10.5.6.1.1 Brazil Blockchain IoT Market by Component
10.5.6.1.2 Brazil Blockchain IoT Market by Application
10.5.6.1.3 Brazil Blockchain IoT Market by Industry Vertical
10.5.6.2 Argentina Blockchain IoT Market
10.5.6.2.1 Argentina Blockchain IoT Market by Component
10.5.6.2.2 Argentina Blockchain IoT Market by Application
10.5.6.2.3 Argentina Blockchain IoT Market by Industry Vertical
10.5.6.3 Rest of South and Central America Blockchain IoT Market
10.5.6.3.1 Rest of South and Central America Blockchain IoT Market by Component
10.5.6.3.2 Rest of South and Central America Blockchain IoT Market by Application
10.5.6.3.3 Rest of South and Central America Blockchain IoT 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. BLOCKCHAIN IOT MARKET, KEY COMPANY PROFILES
12.1. AMAZON WEB SERVICES (AMAZON 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. CISCO SYSTEMS, INC.
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. FILAMENT
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. FACTOM
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 CORPORATION
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. INTEL CORPORATION
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. MICROSOFT CORPORATION
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. THE LINUX FOUNDATION
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. R3
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. WALTONCHAIN
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. Amazon Web Services (Amazon Inc.)
2. Cisco Systems, Inc.
3. Filament
4. Factom
5. IBM Corporation
6. Intel Corporation
7. Microsoft Corporation
8. The Linux Foundation
9. R3
10. Waltonchain
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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