Cloud-based Enterprise Resource Planning (ERP) Market Scope and Size by 2031
The Cloud-Based Enterprise Resource Planning (ERP) Market is expected to register a CAGR of 15.3% 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 Component (Software and Services); Function (Human Resource, Finance, and Marketing); Industry (Manufacturing, BFSI, Retail, Government, Aerospace & Defense, Education, IT & Telecom, and Healthcare). 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 Cloud-Based Enterprise Resource Planning (ERP) 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.
Cloud-Based Enterprise Resource Planning (ERP) Market Segmentation
Component- Software and Services
- Human Resource
- Finance
- Marketing
- Manufacturing
- BFSI
- Retail
- Government
- Aerospace & Defense
- Education
- IT & Telecom
- Healthcare
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
Strategic Insights
Cloud-Based Enterprise Resource Planning (ERP) Market Growth Drivers- Increased Demand for Operational Efficiency: Businesses are constantly seeking ways to improve their operational efficiency and reduce costs. Cloud-based Enterprise Resource Planning (ERP) systems provide a centralized platform for managing various business functions such as finance, HR, supply chain, and customer relationship management. By automating processes and improving data accessibility, organizations can streamline operations, reduce manual errors, and enhance collaboration across departments. This drive for efficiency is a major factor propelling the adoption of cloud-based ERP solutions.
- Growing Emphasis on Scalability and Flexibility: One of the key advantages of cloud-based ERP systems is their scalability and flexibility, which are crucial for growing businesses. Companies can easily scale their ERP solutions according to their specific needs without the need for significant upfront investments in infrastructure. This adaptability allows organizations to respond quickly to changing market conditions and business requirements. As companies increasingly prioritize agility in their operations, the demand for cloud-based ERP systems that offer scalability and customization is steadily increasing.
- Focus on User Experience and Personalization: As user experience becomes a critical factor in software adoption, there is a growing trend toward enhancing the usability and personalization of cloud-based ERP systems. Providers are prioritizing intuitive interfaces, customizable dashboards, and tailored functionalities to meet the specific needs of different users within an organization. This focus on user experience not only encourages higher adoption rates but also empowers employees to leverage ERP systems more effectively, resulting in improved productivity and satisfaction.
- Emphasis on Data Security and Compliance: With the increasing amount of sensitive data being processed through cloud-based ERP systems, data security and regulatory compliance have become paramount concerns. Organizations are becoming more vigilant about safeguarding their data and ensuring compliance with regulations such as GDPR and CCPA. Cloud ERP providers are responding to this trend by implementing robust security measures, including encryption, multi-factor authentication, and regular security audits. This emphasis on data protection is crucial for building trust with customers and ensuring business continuity.
- Development of Industry-Driven Solutions: As businesses in various industries face unique challenges and requirements, there is a growing opportunity for cloud-based ERP providers to develop industry-specific solutions. By offering tailored functionalities and features that cater to the needs of specific sectors—such as manufacturing, healthcare, retail, or construction—providers can differentiate themselves in a crowded market. This specialization can lead to higher customer satisfaction and loyalty, as organizations are more likely to choose ERP solutions that align closely with their operational needs.
- Integration of Cloud-based ERP systems with Emerging Technologies: The potential for integrating cloud-based ERP systems with emerging technologies such as the Internet of Things (IoT), blockchain, and advanced analytics presents a significant opportunity for innovation. By incorporating these technologies, cloud ERP systems can enhance visibility, improve supply chain management, and provide real-time insights into business performance. As organizations seek to harness the power of these technologies, cloud ERP providers that offer seamless integration capabilities will be well-positioned to capture new customers and drive long-term growth.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Cloud-Based Enterprise Resource Planning (ERP) 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 Cloud-Based Enterprise Resource Planning (ERP) 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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Frequently Asked Questions
The Cloud-Based Enterprise Resource Planning (ERP) Market is estimated to witness a CAGR of 15.3% from 2023 to 2031
Digital transformation initiatives and significant in cost efficiency and scalability are the major factors driving the cloud-based Enterprise Resource Planning (ERP) market
Adoption of Industry-Specific ERP solutions to play a significant role in the global cloud-based Enterprise Resource Planning (ERP) 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
o CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) Market - By Component
o CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) Market - By Function
o CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) Market - By Industry
o CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) Market - By Region
- By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) MARKET LANDSCAPE
4.1. OVERVIEW
4.2. ECOSYSTEM ANALYSIS
4.3. PEST ANALYSIS
4.3.1. North America - PEST Analysis
4.3.2. Europe - PEST Analysis
4.3.3. Asia Pacific (APAC) - PEST Analysis
4.3.4. Middle East & Africa (MEA) - PEST Analysis
4.3.5. South America (SAM)- PEST Analysis
5. CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) MARKET - KEY INDUSTRY 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. CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) MARKET - GLOBAL MARKET ANALYSIS
6.1. CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) - GLOBAL MARKET OVERVIEW
6.2. CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE
6. CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) MARKET REVENUE AND FORECASTS TO 2028 - COMPONENT
6.4. OVERVIEW
6.5. COMPONENT MARKET FORECASTS AND ANALYSIS
6.6. SOFTWARE
6.6.1. Overview
6.6.2. Software Market Forecast and Analysis
6.7. SERVICES
6.7.1. Overview
6.7.2. Services Market Forecast and Analysis
6.7.2.1. Professional Services
6.7.2.2. Professional Services Market Forecast and Analysis
6.7.2.3. Managed Services
6.7.2.4. Manages Services Market Forecast and Analysis
7. CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) MARKET REVENUE AND FORECASTS TO 2028 - FUNCTION
7.1. OVERVIEW
7.2. FUNCTION MARKET FORECASTS AND ANALYSIS
7.3. FINANCE
7.3.1. Overview
7.3.2. Finance Market Forecast and Analysis
7.4. HR
7.4.1. Overview
7.4.2. HR Market Forecast and Analysis
7.5. MARKETING
7.5.1. Overview
7.5.2. Marketing Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) MARKET REVENUE AND FORECASTS TO 2028 - VERTICAL
8.1. OVERVIEW
8.2. VERTICAL MARKET FORECASTS AND ANALYSIS
8.3. HEALTHCARE
8.3.1. Overview
8.3.2. Healthcare Market Forecast and Analysis
8.4. RETAIL
8.4.1. Overview
8.4.2. Retail Market Forecast and Analysis
8.5. IT & TELECOM
8.5.1. Overview
8.5.2. IT & Telecom Market Forecast and Analysis
8.6. AEROSPACE & DEFENSE
8.6.1. Overview
8.6.2. Aerospace & Defense Market Forecast and Analysis
8.7. GOVERNMENT
8.7.1. Overview
8.7.2. Government Market Forecast and Analysis
8.8. MANUFACTURING
8.8.1. Overview
8.8.2. Manufacturing Market Forecast and Analysis
8.9. BFSI
8.9.1. Overview
8.9.2. BFSI Market Forecast and Analysis
8.10. EDUCATION
8.10.1. Overview
8.10.2. Education Market Forecast and Analysis
8.11. OTHERS
8.11.1. Overview
8.11.2. Others Market Forecast and Analysis
9. CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1. North America Cloud-Based Enterprise Resource Planning (ERP) Market Overview
9.1.2. North America Cloud-Based Enterprise Resource Planning (ERP) Market Forecasts and Analysis
9.1.3. North America Market Forecasts and Analysis - By Component
9.1.4. North America Market Forecasts and Analysis - By Function
9.1.5. North America Market Forecasts and Analysis - By Vertical
9.1.6. North America Market Forecasts and Analysis - By Countries
9.1.6.1. US market
9.1.6.1.1. US Market by Component
9.1.6.1.2. US Market by Function
9.1.6.1.3. US Market by Vertical
9.1.6.2. Canada market
9.1.6.2.1. Canada Market by Component
9.1.6.2.2. Canada Market by Function
9.1.6.2.3. Canada Market by Vertical
9.1.6.3. Mexico market
9.1.6.3.1. Mexico Market by Component
9.1.6.3.2. Mexico Market by Function
9.1.6.3.3. Mexico Market by Vertical
9.2. EUROPE
9.2.1. Europe Cloud-Based Enterprise Resource Planning (ERP) Market Overview
9.2.2. Europe Cloud-Based Enterprise Resource Planning (ERP) Market Forecasts and Analysis
9.2.3. Europe Market Forecasts and Analysis - By Component
9.2.4. Europe Market Forecasts and Analysis - By Function
9.2.5. Europe Market Forecasts and Analysis - By Vertical
9.2.6. Europe Market Forecasts and Analysis - By Countries
9.2.6.1. France market
9.2.6.1.1. France Market by Component
9.2.6.1.2. France Market by Function
9.2.6.1.3. France Market by Vertical
9.2.6.2. Germany market
9.2.6.2.1. Germany Market by Component
9.2.6.2.2. Germany Market by Function
9.2.6.2.3. Germany Market by Vertical
9.2.6.3. Italy market
9.2.6.3.1. Italy Market by Component
9.2.6.3.2. Italy Market by Function
9.2.6.3.3. Italy Market by Vertical
9.2.6.4. Russia market
9.2.6.4.1. Russia Market by Component
9.2.6.4.2. Russia Market by Function
9.2.6.4.3. Russia Market by Vertical
9.2.6.5. UK market
9.2.6.5.1. UK Market by Component
9.2.6.5.2. UK Market by Function
9.2.6.5.3. UK Market by Vertical
9.2.6.6. Rest of Europe market
9.2.6.6.1. Rest of Europe Market by Component
9.2.6.6.2. Rest of Europe Market by Function
9.2.6.6.3. Rest of Europe Market by Vertical
9.3. ASIA PACIFIC (APAC)
9.3.1. Asia Pacific Cloud-Based Enterprise Resource Planning (ERP) Market Overview
9.3.2. Asia Pacific Cloud-Based Enterprise Resource Planning (ERP) Market Forecasts and Analysis
9.3.3. Asia Pacific Market Forecasts and Analysis - By Component
9.3.4. Asia Pacific Market Forecasts and Analysis - By Function
9.3.5. Asia Pacific Market Forecasts and Analysis - By Vertical
9.3.6. Asia Pacific Market Forecasts and Analysis - By Countries
9.3.6.1. South Korea
9.3.6.1.1. South Korea Market by Component
9.3.6.1.2. South Korea Market by Function
9.3.6.1.3. South Korea Market by Vertical
9.3.6.2. China market
9.3.6.2.1. China Market by Component
9.3.6.2.2. China Market by Function
9.3.6.2.3. China Market by Vertical
9.3.6.3. India market
9.3.6.3.1. India Market by Component
9.3.6.3.2. India Market by Function
9.3.6.3.3. India Market by Vertical
9.3.6.4. Japan market
9.3.6.4.1. Japan Market by Component
9.3.6.4.2. Japan Market by Function
9.3.6.4.3. Japan Market by Vertical
9.3.6.5. Australia market
9.3.6.5.1. Australia Market by Component
9.3.6.5.2. Australia Market by Function
9.3.6.5.3. Australia Market by Vertical
9.3.6.6. Rest of APAC market
9.3.6.6.1. Rest of APAC Market by Component
9.3.6.6.2. Rest of APAC Market by Function
9.3.6.6.3. Rest of APAC Market by Vertical
9.4. MIDDLE EAST AND AFRICA (MEA)
9.4.1. Middle East and Africa Cloud-Based Enterprise Resource Planning (ERP) Market Overview
9.4.2. Middle East and Africa Cloud-Based Enterprise Resource Planning (ERP) Market Forecasts and Analysis
9.4.3. Middle East and Africa Market Forecasts and Analysis - By Component
9.4.4. Middle East and Africa Market Forecasts and Analysis - By Function
9.4.5. Middle East and Africa Market Forecasts and Analysis - By Vertical
9.4.6. Middle East and Africa Market Forecasts and Analysis - By Countries
9.4.6.1. South Africa market
9.4.6.1.1. South Africa Market by Component
9.4.6.1.2. South Africa Market by Function
9.4.6.1.3. South Africa Market by Vertical
9.4.6.2. Saudi Arabia market
9.4.6.2.1. Saudi Arabia Market by Component
9.4.6.2.2. Saudi Arabia Market by Function
9.4.6.2.3. Saudi Arabia Market by Vertical
9.4.6.3. UAE market
9.4.6.3.1. UAE Market by Component
9.4.6.3.2. UAE Market by Function
9.4.6.3.3. UAE Market by Vertical
9.4.6.4. Rest of MEA market
9.4.6.4.1. Rest of MEA Market by Component
9.4.6.4.2. Rest of MEA Market by Function
9.4.6.4.3. Rest of MEA Market by Vertical
9.5. SOUTH AMERICA (SAM)
9.5.1. South America CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) Market Overview
9.5.2. South America CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) Market Forecasts and Analysis
9.5.3. South America Market Forecasts and Analysis - By Component
9.5.4. South America Market Forecasts and Analysis - By Function
9.5.5. South America Market Forecasts and Analysis - By Vertical
9.5.6. South America Market Forecasts and Analysis - By Countries
9.5.6.1. Brazil market
9.5.6.1.1. Brazil Market by Component
9.5.6.1.2. Brazil Market by Function
9.5.6.1.3. Brazil Market by Vertical
9.5.6.2. Argentina market
9.5.6.2.1. Argentina Market by Component
9.5.6.2.2. Argentina Market by Function
9.5.6.2.3. Argentina Market by Vertical
9.5.6.3. Rest of SAM market
9.5.6.3.1. Rest of SAM Market by Component
9.5.6.3.2. Rest of SAM Market by Function
9.5.6.3.3. Rest of SAM Market by Vertical
10. INDUSTRY LANDSCAPE
10.1. MERGERS & ACQUISITIONS
10.2. MARKET INITIATIVES
10.3. NEW DEVELOPMENTS
11. CLOUD-BASED ENTERPRISE RESOURCE PLANNING (ERP) MARKET, KEY COMPANY PROFILES
11.1. SAP SE
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products & Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. MICROSOFT CORPORATION
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products & Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ORACLE CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products & Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EPICOR SOFTWARE CORPORATION
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products & Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. FINANCIALFORCE.COM
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products & Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. PLEX SYSTEMS, INC.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products & Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. INFOR
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products & Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SAGE SOFTWARE, INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products & Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. INTACCT CORPORATION
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products & Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. RAMCO SYSTEMS
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products & Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. SAP SE
2. Microsoft Corporation
3. Oracle Corporation
4. Epicor Software Corporation
5. Financialforce.Com
6. Plex Systems, Inc.
7. Infor
8. Sage Software, Inc.
9. Intacct Corporation
10. Ramco Systems
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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