Cloud Storage Market Developments by 2031
The Cloud Storage market is expected to expand at a CAGR of 22.4% from 2023 to 2031. Increasing focus on Green IT and edge computing are likely to be a key trends in the market.
Cloud Storage Market Analysis
- Cloud Storage is scalable, which means it can be scaled up or down based on the organization's requirements. Cloud Storage provides enterprises with flexibility in terms of data storage and access, resource deployment and budgeting, and IT infrastructure design.
- Cloud storage makes digital data readily available, making it far more useful on an ongoing basis. Cloud Storage enables data processing, such as business intelligence analysis or the application of machine learning and artificial intelligence to big datasets. Thus, the demand for cloud storage is expected to grow significantly during the forecast period.
Cloud Storage Market Overview
- Cloud storage is a type of computer data storage in which digital files are kept on servers in remote places. A third-party provider manages and secures the data stored on the servers.
- Cloud Storage allows enterprises to store, access, and preserve data without the need to own and operate their own data centers, reducing costs from capital investment to operation.
- Cloud storage is scalable, allowing enterprises to extend or minimize their data footprint as needed.
- Cloud Storage saves data on remote servers, including files, corporate data, images, and videos. Users upload data to servers via an internet connection, which is then saved on a virtual computer on a physical server.
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Cloud Storage 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.
Cloud Storage Market: Strategic Insights
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Cloud Storage Market Drivers and Opportunities
Growth in Data Generation
- In the past few years, the amount of data generated has increased rapidly. In an increasingly interconnected world, a massive amount of data is generated daily by individuals, businesses, and devices around the world.
- The rise in data is expected to supplement the growth of the cloud storage market. Organizations across industries are rapidly embracing cloud storage solutions to reap benefits such as scalability, flexibility, and cost-effectiveness.
- Further, the demand is increasing from both small and large businesses as cloud storage enables them to grow capacity at a lower cost while getting enterprise-level capabilities.
Increasing Adoption of Hybrid Cloud
- In the ever-changing world of cloud computing, businesses are looking beyond in-house data centers and embracing strategic approaches like multi-cloud, hybrid cloud, and colocation solutions.
- The hybrid method, which combines on-premises and cloud, is quickly gaining popularity. With a hybrid cloud, organizations can run essential systems locally and offload data to the cloud.
- Hybrid cloud storage provides companies with the best of both worlds: on-premise security and cloud scalability.
- Further, in hybrid cloud environments, the integration of edge computing is revolutionizing real-time data processing. Thus, the demand for hybrid cloud is expected to create lucrative growth opportunities during the forecast period.
Cloud Storage Market Report Segmentation Analysis
The key segments that contributed to the derivation of the Cloud Storage market analysis are offerings, deployment model, organization size, and end-user.
- By offerings, the market is divided into storage-type and service.
- Based on the deployment model, the market is divided into public cloud, hybrid cloud, and private cloud.
- On the basis of organization size, the market is segmented into large enterprises and SMEs.
- Based on end-user, the market is segmented into BFSI, retail and consumer goods, healthcare, media & entertainment, IT & telecommunication, manufacturing, government and others.
Cloud Storage 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.
- Cloud Storage 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 Cloud Storage 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 Cloud Storage market in these regions
Cloud Storage Market Report Scope
Cloud Storage Market News and Recent Developments
The Cloud Storage 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 Cloud Storage are listed below:
- IBM announced to addition of Red Hat storage product roadmaps and Red Hat associate teams to the IBM Storage business unit, bringing consistent application and data storage across on-premises infrastructure and cloud. With the move, IBM will integrate the storage technologies from Red Hat OpenShift Data Foundation (ODF) as the foundation for IBM Spectrum Fusion. This combines IBM and Red Hat's container storage technologies for data services and helps accelerate IBM's capabilities in the burgeoning Kubernetes platform market. (Source: IBM Corporation, Press Release, October 2022).
- Alibaba Cloud and VMware, Inc. announced the next evolution of Alibaba Cloud VMware Service, a jointly developed public cloud service. With Alibaba Cloud VMware Service, enterprises across China can accelerate enterprise cloud transformation to support digital innovation with lower costs and risk. (Source: IBM Corporation, Press Release, April 2022).
Cloud Storage Market Report Coverage & Deliverables
The Cloud Storage market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Cloud Storage Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
- Cloud Storage market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Cloud Storage market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Cloud Storage 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 Cloud Storage 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
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.
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
AWS, Google, IBM, Microsoft, Alibaba Cloud, Oracle, Dell Technologies, HPE, Huawei, and Dropbox are the major market players.
Increasing focus on green IT and edge computing are likely to be a key trends in the market.
The global Cloud Storage market is estimated to grow at a CAGR of 22.4% during 2023 - 2031.
Growing demand for remote data access and growth in data generation are the major factors that drive the global Cloud Storage market.
TABLE OF CONTENTS
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Cloud Storage Market - By Type
1.3.2Cloud Storage Market - By Organization Size
1.3.3Cloud Storage Market - By Industry Vertical
1.3.4Cloud Storage Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.CLOUD STORAGE MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTER'S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.CLOUD STORAGE 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.CLOUD STORAGE MARKET - GLOBAL MARKET ANALYSIS
6.1.CLOUD STORAGE - GLOBAL MARKET OVERVIEW
6.2.CLOUD STORAGE - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.CLOUD STORAGE MARKET - REVENUE AND FORECASTS TO 2028 â" TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.PUBLIC CLOUD STORAGE
7.3.1.Overview
7.3.2.Public Cloud Storage Market Forecast and Analysis
7.4.PRIVATE CLOUD STORAGE
7.4.1.Overview
7.4.2.Private Cloud Storage Market Forecast and Analysis
7.5.HYBRID CLOUD STORAGE
7.5.1.Overview
7.5.2.Hybrid Cloud Storage Market Forecast and Analysis
8.CLOUD STORAGE MARKET - REVENUE AND FORECASTS TO 2028 â" ORGANIZATION SIZE
8.1.OVERVIEW
8.2.ORGANIZATION SIZE MARKET FORECASTS AND ANALYSIS
8.3.LARGE ENTERPRISES
8.3.1.Overview
8.3.2.Large Enterprises Market Forecast and Analysis
8.4.SMALL AND MEDIUM ENTERPRISES
8.4.1.Overview
8.4.2.Small and Medium Enterprises Market Forecast and Analysis
9.CLOUD STORAGE MARKET - REVENUE AND FORECASTS TO 2028 â" INDUSTRY VERTICAL
9.1.OVERVIEW
9.2.INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
9.3.BFSI
9.3.1.Overview
9.3.2.BFSI Market Forecast and Analysis
9.4.IT AND TELECOM
9.4.1.Overview
9.4.2.IT and Telecom Market Forecast and Analysis
9.5.HEALTHCARE
9.5.1.Overview
9.5.2.Healthcare Market Forecast and Analysis
9.6.RETAIL
9.6.1.Overview
9.6.2.Retail Market Forecast and Analysis
9.7.ENERGY AND UTILITIES
9.7.1.Overview
9.7.2.Energy and Utilities Market Forecast and Analysis
9.8.GOVERNMENT
9.8.1.Overview
9.8.2.Government Market Forecast and Analysis
9.9.MANUFACTURING
9.9.1.Overview
9.9.2.Manufacturing Market Forecast and Analysis
9.10.OTHERS
9.10.1.Overview
9.10.2.Others Market Forecast and Analysis
10.CLOUD STORAGE MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Cloud Storage Market Overview
10.1.2North America Cloud Storage Market Forecasts and Analysis
10.1.3North America Cloud Storage Market Forecasts and Analysis - By Type
10.1.4North America Cloud Storage Market Forecasts and Analysis - By Organization Size
10.1.5North America Cloud Storage Market Forecasts and Analysis - By Industry Vertical
10.1.6North America Cloud Storage Market Forecasts and Analysis - By Countries
10.1.6.1United States Cloud Storage Market
10.1.6.1.1United States Cloud Storage Market by Type
10.1.6.1.2United States Cloud Storage Market by Organization Size
10.1.6.1.3United States Cloud Storage Market by Industry Vertical
10.1.6.2Canada Cloud Storage Market
10.1.6.2.1Canada Cloud Storage Market by Type
10.1.6.2.2Canada Cloud Storage Market by Organization Size
10.1.6.2.3Canada Cloud Storage Market by Industry Vertical
10.1.6.3Mexico Cloud Storage Market
10.1.6.3.1Mexico Cloud Storage Market by Type
10.1.6.3.2Mexico Cloud Storage Market by Organization Size
10.1.6.3.3Mexico Cloud Storage Market by Industry Vertical
10.2.EUROPE
10.2.1Europe Cloud Storage Market Overview
10.2.2Europe Cloud Storage Market Forecasts and Analysis
10.2.3Europe Cloud Storage Market Forecasts and Analysis - By Type
10.2.4Europe Cloud Storage Market Forecasts and Analysis - By Organization Size
10.2.5Europe Cloud Storage Market Forecasts and Analysis - By Industry Vertical
10.2.6Europe Cloud Storage Market Forecasts and Analysis - By Countries
10.2.6.1Germany Cloud Storage Market
10.2.6.1.1Germany Cloud Storage Market by Type
10.2.6.1.2Germany Cloud Storage Market by Organization Size
10.2.6.1.3Germany Cloud Storage Market by Industry Vertical
10.2.6.2France Cloud Storage Market
10.2.6.2.1France Cloud Storage Market by Type
10.2.6.2.2France Cloud Storage Market by Organization Size
10.2.6.2.3France Cloud Storage Market by Industry Vertical
10.2.6.3Italy Cloud Storage Market
10.2.6.3.1Italy Cloud Storage Market by Type
10.2.6.3.2Italy Cloud Storage Market by Organization Size
10.2.6.3.3Italy Cloud Storage Market by Industry Vertical
10.2.6.4United Kingdom Cloud Storage Market
10.2.6.4.1United Kingdom Cloud Storage Market by Type
10.2.6.4.2United Kingdom Cloud Storage Market by Organization Size
10.2.6.4.3United Kingdom Cloud Storage Market by Industry Vertical
10.2.6.5Russia Cloud Storage Market
10.2.6.5.1Russia Cloud Storage Market by Type
10.2.6.5.2Russia Cloud Storage Market by Organization Size
10.2.6.5.3Russia Cloud Storage Market by Industry Vertical
10.2.6.6Rest of Europe Cloud Storage Market
10.2.6.6.1Rest of Europe Cloud Storage Market by Type
10.2.6.6.2Rest of Europe Cloud Storage Market by Organization Size
10.2.6.6.3Rest of Europe Cloud Storage Market by Industry Vertical
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Cloud Storage Market Overview
10.3.2Asia-Pacific Cloud Storage Market Forecasts and Analysis
10.3.3Asia-Pacific Cloud Storage Market Forecasts and Analysis - By Type
10.3.4Asia-Pacific Cloud Storage Market Forecasts and Analysis - By Organization Size
10.3.5Asia-Pacific Cloud Storage Market Forecasts and Analysis - By Industry Vertical
10.3.6Asia-Pacific Cloud Storage Market Forecasts and Analysis - By Countries
10.3.6.1Australia Cloud Storage Market
10.3.6.1.1Australia Cloud Storage Market by Type
10.3.6.1.2Australia Cloud Storage Market by Organization Size
10.3.6.1.3Australia Cloud Storage Market by Industry Vertical
10.3.6.2China Cloud Storage Market
10.3.6.2.1China Cloud Storage Market by Type
10.3.6.2.2China Cloud Storage Market by Organization Size
10.3.6.2.3China Cloud Storage Market by Industry Vertical
10.3.6.3India Cloud Storage Market
10.3.6.3.1India Cloud Storage Market by Type
10.3.6.3.2India Cloud Storage Market by Organization Size
10.3.6.3.3India Cloud Storage Market by Industry Vertical
10.3.6.4Japan Cloud Storage Market
10.3.6.4.1Japan Cloud Storage Market by Type
10.3.6.4.2Japan Cloud Storage Market by Organization Size
10.3.6.4.3Japan Cloud Storage Market by Industry Vertical
10.3.6.5South Korea Cloud Storage Market
10.3.6.5.1South Korea Cloud Storage Market by Type
10.3.6.5.2South Korea Cloud Storage Market by Organization Size
10.3.6.5.3South Korea Cloud Storage Market by Industry Vertical
10.3.6.6Rest of Asia-Pacific Cloud Storage Market
10.3.6.6.1Rest of Asia-Pacific Cloud Storage Market by Type
10.3.6.6.2Rest of Asia-Pacific Cloud Storage Market by Organization Size
10.3.6.6.3Rest of Asia-Pacific Cloud Storage Market by Industry Vertical
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Cloud Storage Market Overview
10.4.2Middle East and Africa Cloud Storage Market Forecasts and Analysis
10.4.3Middle East and Africa Cloud Storage Market Forecasts and Analysis - By Type
10.4.4Middle East and Africa Cloud Storage Market Forecasts and Analysis - By Organization Size
10.4.5Middle East and Africa Cloud Storage Market Forecasts and Analysis - By Industry Vertical
10.4.6Middle East and Africa Cloud Storage Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Cloud Storage Market
10.4.6.1.1South Africa Cloud Storage Market by Type
10.4.6.1.2South Africa Cloud Storage Market by Organization Size
10.4.6.1.3South Africa Cloud Storage Market by Industry Vertical
10.4.6.2Saudi Arabia Cloud Storage Market
10.4.6.2.1Saudi Arabia Cloud Storage Market by Type
10.4.6.2.2Saudi Arabia Cloud Storage Market by Organization Size
10.4.6.2.3Saudi Arabia Cloud Storage Market by Industry Vertical
10.4.6.3U.A.E Cloud Storage Market
10.4.6.3.1U.A.E Cloud Storage Market by Type
10.4.6.3.2U.A.E Cloud Storage Market by Organization Size
10.4.6.3.3U.A.E Cloud Storage Market by Industry Vertical
10.4.6.4Rest of Middle East and Africa Cloud Storage Market
10.4.6.4.1Rest of Middle East and Africa Cloud Storage Market by Type
10.4.6.4.2Rest of Middle East and Africa Cloud Storage Market by Organization Size
10.4.6.4.3Rest of Middle East and Africa Cloud Storage Market by Industry Vertical
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Cloud Storage Market Overview
10.5.2South and Central America Cloud Storage Market Forecasts and Analysis
10.5.3South and Central America Cloud Storage Market Forecasts and Analysis - By Type
10.5.4South and Central America Cloud Storage Market Forecasts and Analysis - By Organization Size
10.5.5South and Central America Cloud Storage Market Forecasts and Analysis - By Industry Vertical
10.5.6South and Central America Cloud Storage Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Cloud Storage Market
10.5.6.1.1Brazil Cloud Storage Market by Type
10.5.6.1.2Brazil Cloud Storage Market by Organization Size
10.5.6.1.3Brazil Cloud Storage Market by Industry Vertical
10.5.6.2Argentina Cloud Storage Market
10.5.6.2.1Argentina Cloud Storage Market by Type
10.5.6.2.2Argentina Cloud Storage Market by Organization Size
10.5.6.2.3Argentina Cloud Storage Market by Industry Vertical
10.5.6.3Rest of South and Central America Cloud Storage Market
10.5.6.3.1Rest of South and Central America Cloud Storage Market by Type
10.5.6.3.2Rest of South and Central America Cloud Storage Market by Organization Size
10.5.6.3.3Rest of South and Central America Cloud Storage 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.CLOUD STORAGE MARKET, KEY COMPANY PROFILES
12.1.AMAZON WEB SERVICES, 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.AT AND T 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.DROPBOX, 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.GOOGLE LLC
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.HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP
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.IBM 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
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.ORACLE
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.RACKSPACE 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.VMWARE, INC.
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, Inc.
2.AT and T Inc.
3.DropBox, Inc.
4.Google LLC
5.Hewlett Packard Enterprise Development LP
6.IBM Corporation
7.Microsoft
8.Oracle
9.Rackspace Inc.
10.VMware, Inc.
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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