Contact Center Market Trends and Forecast (2021-2031)
The Contact Center Market is expected to register a CAGR of 14.1% 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 (Solution, Services), Deployment (Cloud, On-Premises), End-User (BFSI, Healthcare, IT and Telecom, Government, Media and Entertainment, Travel and Hospitality, 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 Contact Center 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.
Contact Center Market Segmentation
Component- Solution
- Services
- Cloud
- On-Premises
- BFSI
- Healthcare
- IT and Telecom
- Government
- Media and Entertainment
- Travel and Hospitality
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Contact Center Market Growth Drivers- AI and Automation Transformation:Artificial intelligence and machine learning are revolutionizing contact centers by enabling intelligent call routing, predictive analytics, and automated customer interactions. These technologies enhance efficiency, reduce operational costs, and provide more personalized customer experiences through advanced natural language processing capabilities.
- Remote Work Evolution:he pandemic-accelerated shift to remote and hybrid work models has fundamentally reshaped contact center operations. Organizations are investing in cloud-based technologies, robust digital infrastructure, and flexible workforce management tools to support distributed teams while maintaining productivity, collaboration, and seamless customer service delivery.
- Increased Use of Speech Analytics and Sentiment Analysis: The use of speech analytics and sentiment analysis is becoming a key trend in the contact center market. These technologies analyze voice conversations to detect emotions, tone, and customer sentiments during interactions with agents. By capturing this data, contact centers can gain insights into customer satisfaction, identify potential issues, and improve agent performance. Speech analytics can also assist in compliance monitoring and quality assurance by automatically identifying key phrases or concerns. This trend is enabling businesses to enhance the quality of interactions and deliver more personalized customer service, as they can better understand the emotional context behind customer inquiries.
- Remote and Hybrid Contact Center Models: The shift toward remote and hybrid work models is transforming the contact center landscape. The COVID-19 pandemic accelerated the adoption of remote working, and many businesses are now continuing to embrace hybrid models, where agents can work both from home and in-office. This trend is supported by cloud-based contact center solutions, which enable agents to access systems and customer data securely from any location. The flexibility of remote work also allows companies to tap into a global talent pool, reduce overhead costs, and maintain business continuity. As a result, remote and hybrid work environments are becoming a long-term trend that will continue to shape the future of contact centers.
- Hyper-Personalization through Advanced Analytics: Emerging contact centers can leverage big data and advanced analytics to create deeply personalized customer interactions. By integrating AI-driven insights, predictive modeling, and real-time customer data, organizations can anticipate customer needs, customize communication strategies, and deliver proactive, individualized support experiences.
- Emotional Intelligence and Empathy Technologies: Innovative contact centers can differentiate themselves by developing emotional intelligence technologies that enhance agent empathy and emotional understanding. By implementing sentiment analysis, voice tone recognition, and adaptive communication tools, organizations can create more meaningful, compassionate customer interactions that build long-term loyalty.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Contact Center 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 Contact Center 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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- Request discounts available for Start-Ups & Universities
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 report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Omnichannel customer experience to play a significant role in the global contact center market in the coming years
The Contact Center Market is estimated to witness a CAGR of 14.1% from 2023 to 2031
AI and automation transformation and remote work evolution are the major factors driving the contact center market
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Contact Center Market - By Component
1.3.2 Contact Center Market - By Deployment
1.3.3 Contact Center Market - By End-User
1.3.4 Contact Center Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CONTACT CENTER 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. CONTACT CENTER 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. CONTACT CENTER MARKET - GLOBAL MARKET ANALYSIS
6.1. CONTACT CENTER - GLOBAL MARKET OVERVIEW
6.2. CONTACT CENTER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CONTACT CENTER MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOLUTION
7.3.1. Overview
7.3.2. Solution Market Forecast and Analysis
7.3.3. Automatic Call Distribution (ACD) Market
7.3.3.1. Overview
7.3.3.2. Automatic Call Distribution (ACD) Market Forecast and Analysis
7.3.4. Call Recording Market
7.3.4.1. Overview
7.3.4.2. Call Recording Market Forecast and Analysis
7.3.5. Customer Collaboration Market
7.3.5.1. Overview
7.3.5.2. Customer Collaboration Market Forecast and Analysis
7.3.6. Interactive Voice Responses (IVR) Market
7.3.6.1. Overview
7.3.6.2. Interactive Voice Responses (IVR) Market Forecast and Analysis
7.3.7. Reporting and Analytics Market
7.3.7.1. Overview
7.3.7.2. Reporting and Analytics Market Forecast and Analysis
7.3.8. Others Market
7.3.8.1. Overview
7.3.8.2. Others Market Forecast and Analysis
7.4. SERVICES
7.4.1. Overview
7.4.2. Services Market Forecast and Analysis
7.4.3. Integration Market
7.4.3.1. Overview
7.4.3.2. Integration Market Forecast and Analysis
7.4.4. Support and Maintenance Market
7.4.4.1. Overview
7.4.4.2. Support and Maintenance Market Forecast and Analysis
7.4.5. Training and Consulting Market
7.4.5.1. Overview
7.4.5.2. Training and Consulting Market Forecast and Analysis
7.4.6. Others Market
7.4.6.1. Overview
7.4.6.2. Others Market Forecast and Analysis
8. CONTACT CENTER MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT
8.1. OVERVIEW
8.2. DEPLOYMENT MARKET FORECASTS AND ANALYSIS
8.3. CLOUD
8.3.1. Overview
8.3.2. Cloud Market Forecast and Analysis
8.4. ON-PREMISES
8.4.1. Overview
8.4.2. On-Premises Market Forecast and Analysis
9. CONTACT CENTER MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. BFSI
9.3.1. Overview
9.3.2. BFSI Market Forecast and Analysis
9.4. HEALTHCARE
9.4.1. Overview
9.4.2. Healthcare Market Forecast and Analysis
9.5. IT AND TELECOM
9.5.1. Overview
9.5.2. IT and Telecom Market Forecast and Analysis
9.6. GOVERNMENT
9.6.1. Overview
9.6.2. Government Market Forecast and Analysis
9.7. MEDIA AND ENTERTAINMENT
9.7.1. Overview
9.7.2. Media and Entertainment Market Forecast and Analysis
9.8. TRAVEL AND HOSPITALITY
9.8.1. Overview
9.8.2. Travel and Hospitality Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis
10. CONTACT CENTER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Contact Center Market Overview
10.1.2 North America Contact Center Market Forecasts and Analysis
10.1.3 North America Contact Center Market Forecasts and Analysis - By Component
10.1.4 North America Contact Center Market Forecasts and Analysis - By Deployment
10.1.5 North America Contact Center Market Forecasts and Analysis - By End-User
10.1.6 North America Contact Center Market Forecasts and Analysis - By Countries
10.1.6.1 United States Contact Center Market
10.1.6.1.1 United States Contact Center Market by Component
10.1.6.1.2 United States Contact Center Market by Deployment
10.1.6.1.3 United States Contact Center Market by End-User
10.1.6.2 Canada Contact Center Market
10.1.6.2.1 Canada Contact Center Market by Component
10.1.6.2.2 Canada Contact Center Market by Deployment
10.1.6.2.3 Canada Contact Center Market by End-User
10.1.6.3 Mexico Contact Center Market
10.1.6.3.1 Mexico Contact Center Market by Component
10.1.6.3.2 Mexico Contact Center Market by Deployment
10.1.6.3.3 Mexico Contact Center Market by End-User
10.2. EUROPE
10.2.1 Europe Contact Center Market Overview
10.2.2 Europe Contact Center Market Forecasts and Analysis
10.2.3 Europe Contact Center Market Forecasts and Analysis - By Component
10.2.4 Europe Contact Center Market Forecasts and Analysis - By Deployment
10.2.5 Europe Contact Center Market Forecasts and Analysis - By End-User
10.2.6 Europe Contact Center Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Contact Center Market
10.2.6.1.1 Germany Contact Center Market by Component
10.2.6.1.2 Germany Contact Center Market by Deployment
10.2.6.1.3 Germany Contact Center Market by End-User
10.2.6.2 France Contact Center Market
10.2.6.2.1 France Contact Center Market by Component
10.2.6.2.2 France Contact Center Market by Deployment
10.2.6.2.3 France Contact Center Market by End-User
10.2.6.3 Italy Contact Center Market
10.2.6.3.1 Italy Contact Center Market by Component
10.2.6.3.2 Italy Contact Center Market by Deployment
10.2.6.3.3 Italy Contact Center Market by End-User
10.2.6.4 United Kingdom Contact Center Market
10.2.6.4.1 United Kingdom Contact Center Market by Component
10.2.6.4.2 United Kingdom Contact Center Market by Deployment
10.2.6.4.3 United Kingdom Contact Center Market by End-User
10.2.6.5 Russia Contact Center Market
10.2.6.5.1 Russia Contact Center Market by Component
10.2.6.5.2 Russia Contact Center Market by Deployment
10.2.6.5.3 Russia Contact Center Market by End-User
10.2.6.6 Rest of Europe Contact Center Market
10.2.6.6.1 Rest of Europe Contact Center Market by Component
10.2.6.6.2 Rest of Europe Contact Center Market by Deployment
10.2.6.6.3 Rest of Europe Contact Center Market by End-User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Contact Center Market Overview
10.3.2 Asia-Pacific Contact Center Market Forecasts and Analysis
10.3.3 Asia-Pacific Contact Center Market Forecasts and Analysis - By Component
10.3.4 Asia-Pacific Contact Center Market Forecasts and Analysis - By Deployment
10.3.5 Asia-Pacific Contact Center Market Forecasts and Analysis - By End-User
10.3.6 Asia-Pacific Contact Center Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Contact Center Market
10.3.6.1.1 Australia Contact Center Market by Component
10.3.6.1.2 Australia Contact Center Market by Deployment
10.3.6.1.3 Australia Contact Center Market by End-User
10.3.6.2 China Contact Center Market
10.3.6.2.1 China Contact Center Market by Component
10.3.6.2.2 China Contact Center Market by Deployment
10.3.6.2.3 China Contact Center Market by End-User
10.3.6.3 India Contact Center Market
10.3.6.3.1 India Contact Center Market by Component
10.3.6.3.2 India Contact Center Market by Deployment
10.3.6.3.3 India Contact Center Market by End-User
10.3.6.4 Japan Contact Center Market
10.3.6.4.1 Japan Contact Center Market by Component
10.3.6.4.2 Japan Contact Center Market by Deployment
10.3.6.4.3 Japan Contact Center Market by End-User
10.3.6.5 South Korea Contact Center Market
10.3.6.5.1 South Korea Contact Center Market by Component
10.3.6.5.2 South Korea Contact Center Market by Deployment
10.3.6.5.3 South Korea Contact Center Market by End-User
10.3.6.6 Rest of Asia-Pacific Contact Center Market
10.3.6.6.1 Rest of Asia-Pacific Contact Center Market by Component
10.3.6.6.2 Rest of Asia-Pacific Contact Center Market by Deployment
10.3.6.6.3 Rest of Asia-Pacific Contact Center Market by End-User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Contact Center Market Overview
10.4.2 Middle East and Africa Contact Center Market Forecasts and Analysis
10.4.3 Middle East and Africa Contact Center Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa Contact Center Market Forecasts and Analysis - By Deployment
10.4.5 Middle East and Africa Contact Center Market Forecasts and Analysis - By End-User
10.4.6 Middle East and Africa Contact Center Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Contact Center Market
10.4.6.1.1 South Africa Contact Center Market by Component
10.4.6.1.2 South Africa Contact Center Market by Deployment
10.4.6.1.3 South Africa Contact Center Market by End-User
10.4.6.2 Saudi Arabia Contact Center Market
10.4.6.2.1 Saudi Arabia Contact Center Market by Component
10.4.6.2.2 Saudi Arabia Contact Center Market by Deployment
10.4.6.2.3 Saudi Arabia Contact Center Market by End-User
10.4.6.3 U.A.E Contact Center Market
10.4.6.3.1 U.A.E Contact Center Market by Component
10.4.6.3.2 U.A.E Contact Center Market by Deployment
10.4.6.3.3 U.A.E Contact Center Market by End-User
10.4.6.4 Rest of Middle East and Africa Contact Center Market
10.4.6.4.1 Rest of Middle East and Africa Contact Center Market by Component
10.4.6.4.2 Rest of Middle East and Africa Contact Center Market by Deployment
10.4.6.4.3 Rest of Middle East and Africa Contact Center Market by End-User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Contact Center Market Overview
10.5.2 South and Central America Contact Center Market Forecasts and Analysis
10.5.3 South and Central America Contact Center Market Forecasts and Analysis - By Component
10.5.4 South and Central America Contact Center Market Forecasts and Analysis - By Deployment
10.5.5 South and Central America Contact Center Market Forecasts and Analysis - By End-User
10.5.6 South and Central America Contact Center Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Contact Center Market
10.5.6.1.1 Brazil Contact Center Market by Component
10.5.6.1.2 Brazil Contact Center Market by Deployment
10.5.6.1.3 Brazil Contact Center Market by End-User
10.5.6.2 Argentina Contact Center Market
10.5.6.2.1 Argentina Contact Center Market by Component
10.5.6.2.2 Argentina Contact Center Market by Deployment
10.5.6.2.3 Argentina Contact Center Market by End-User
10.5.6.3 Rest of South and Central America Contact Center Market
10.5.6.3.1 Rest of South and Central America Contact Center Market by Component
10.5.6.3.2 Rest of South and Central America Contact Center Market by Deployment
10.5.6.3.3 Rest of South and Central America Contact Center Market by End-User
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. CONTACT CENTER MARKET, KEY COMPANY PROFILES
12.1. 3CLOGIC
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. ALCATEL LUCENT ENTERPRISE
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. ASPECT SOFTWARE
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. AVAYA, INC.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. CISCO SYSTEMS, INC.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. ENGHOUSE INTERACTIVE
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. FIVE9, 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. MITEL CORPORATION
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. SAP SE
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. UNIFY, 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
1. 3clogic
2. Alcatel Lucent Enterprise
3. Aspect Software
4. Avaya, Inc.
5. Cisco Systems, Inc.
6. Enghouse Interactive
7. Five9, Inc.
8. Mitel Corporation
9. SAP SE
10. Unify, 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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