Digital Health Technologies Market Dynamics 2021-2031
The Digital Health Technologies Market is expected to register a CAGR of 23.5% 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, Hardware, Services), Product and Service (M-Health, E-Health). The report further presents analysis based on the End User (Healthcare Providers, Payers, Healthcare Consumers, 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 Digital Health Technologies 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.
Digital Health Technologies Market Segmentation
Component- Software
- Hardware
- Services
- M-Health
- E-Health
- Healthcare Providers
- Payers
- Healthcare Consumers
- Others
Strategic Insights
Digital Health Technologies Market Growth Drivers- Increasing Adoption of Telemedicine and Remote Monitoring: The growing adoption of telemedicine and remote patient monitoring is a key driver for the digital health technologies market. As healthcare providers seek to enhance accessibility, reduce costs, and manage patient care remotely, digital health technologies, including wearables and mobile health apps, are gaining widespread use. These technologies enable real-time monitoring of patients' health conditions, improving outcomes and reducing hospital visits.
- Rising Healthcare Costs and Demand for Efficiency: Healthcare systems worldwide are under pressure due to rising costs and a need for more efficient care. Digital health technologies help streamline processes, reduce administrative burdens, and improve decision-making. From electronic health records (EHR) to AI-powered diagnostic tools, these technologies are transforming healthcare delivery and making it more affordable and accessible for patients and providers alike.
- Integration of Artificial Intelligence (AI) and Machine Learning: AI and machine learning are increasingly being integrated into digital health technologies to improve diagnosis, treatment recommendations, and predictive analytics. AI algorithms can analyze large datasets to identify trends and patterns that might be missed by human clinicians, leading to more personalized, accurate, and timely healthcare interventions.
- Growth of Wearables and Health Tracking Devices: Wearable health devices, such as fitness trackers, smartwatches, and continuous glucose monitors, are a rapidly growing trend. These devices provide individuals with real-time health data, enabling better self-management and chronic disease prevention. As consumer awareness around health and wellness increases, the demand for wearable devices to track fitness, sleep, and vital signs continues to rise.
- Expansion of Chronic Disease Management Solutions: Chronic diseases such as diabetes, cardiovascular conditions, and respiratory disorders are a major global concern. Digital health technologies offer significant opportunities to improve the management of these diseases through remote monitoring, personalized care plans, and data analytics. Developing solutions that empower patients to manage their conditions remotely can transform healthcare outcomes and reduce hospitalizations.
- Advancements in Personalized Medicine: With advancements in genomics, AI, and digital tools, personalized medicine is becoming more prevalent. Digital health technologies can tailor treatment plans based on an individual's genetic makeup, lifestyle, and health data. This offers opportunities for precision therapies and customized interventions, potentially improving patient outcomes and reducing healthcare costs.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Digital Health Technologies 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 Digital Health Technologies 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.
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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
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to country scope.
Frequently Asked Questions
North America dominated the digital health technologies market in 2023.
The market drivers include growing awareness of health and wellness, and ongoing development of advanced technologies like AI, machine learning, and the Internet of Things (IoT)are driving the digital health technologies.
Remote consultations with healthcare providers are likely to remain the key trend during the forecast period.
The digital health technologies majorly consists of players such Allscripts Healthcare Solution, Inc., Cerner Corporation, Cisco systems among others.
Asia-Pacific region is likely to witness the fastest growth rate during the forecast period.
The digital health technologies market is estimated to grow with a CAGR of 23.5% from 2023 to 2031.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Digital Health Technologies Market - By Component
1.3.2 Digital Health Technologies Market - By End User
1.3.3 Digital Health Technologies Market - By Product and Service
1.3.4 Digital Health Technologies Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DIGITAL HEALTH TECHNOLOGIES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. DIGITAL HEALTH TECHNOLOGIES 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. DIGITAL HEALTH TECHNOLOGIES MARKET - GLOBAL MARKET ANALYSIS
6.1. DIGITAL HEALTH TECHNOLOGIES - GLOBAL MARKET OVERVIEW
6.2. DIGITAL HEALTH TECHNOLOGIES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. DIGITAL HEALTH TECHNOLOGIES MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOFTWARE
7.3.1. Overview
7.3.2. Software Market Forecast and Analysis
7.4. HARDWARE
7.4.1. Overview
7.4.2. Hardware Market Forecast and Analysis
7.5. SERVICES
7.5.1. Overview
7.5.2. Services Market Forecast and Analysis
8. DIGITAL HEALTH TECHNOLOGIES MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HEALTHCARE PROVIDERS
8.3.1. Overview
8.3.2. Healthcare Providers Market Forecast and Analysis
8.4. PAYERS
8.4.1. Overview
8.4.2. Payers Market Forecast and Analysis
8.5. HEALTHCARE CONSUMERS
8.5.1. Overview
8.5.2. Healthcare Consumers Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. DIGITAL HEALTH TECHNOLOGIES MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT AND SERVICE
9.1. OVERVIEW
9.2. PRODUCT AND SERVICE MARKET FORECASTS AND ANALYSIS
9.3. M-HEALTH
9.3.1. Overview
9.3.2. m-Health Market Forecast and Analysis
9.4. E-HEALTH
9.4.1. Overview
9.4.2. e-Health Market Forecast and Analysis
10. DIGITAL HEALTH TECHNOLOGIES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Digital Health Technologies Market Overview
10.1.2 North America Digital Health Technologies Market Forecasts and Analysis
10.1.3 North America Digital Health Technologies Market Forecasts and Analysis - By Component
10.1.4 North America Digital Health Technologies Market Forecasts and Analysis - By End User
10.1.5 North America Digital Health Technologies Market Forecasts and Analysis - By Product and Service
10.1.6 North America Digital Health Technologies Market Forecasts and Analysis - By Countries
10.1.6.1 United States Digital Health Technologies Market
10.1.6.1.1 United States Digital Health Technologies Market by Component
10.1.6.1.2 United States Digital Health Technologies Market by End User
10.1.6.1.3 United States Digital Health Technologies Market by Product and Service
10.1.6.2 Canada Digital Health Technologies Market
10.1.6.2.1 Canada Digital Health Technologies Market by Component
10.1.6.2.2 Canada Digital Health Technologies Market by End User
10.1.6.2.3 Canada Digital Health Technologies Market by Product and Service
10.1.6.3 Mexico Digital Health Technologies Market
10.1.6.3.1 Mexico Digital Health Technologies Market by Component
10.1.6.3.2 Mexico Digital Health Technologies Market by End User
10.1.6.3.3 Mexico Digital Health Technologies Market by Product and Service
10.2. EUROPE
10.2.1 Europe Digital Health Technologies Market Overview
10.2.2 Europe Digital Health Technologies Market Forecasts and Analysis
10.2.3 Europe Digital Health Technologies Market Forecasts and Analysis - By Component
10.2.4 Europe Digital Health Technologies Market Forecasts and Analysis - By End User
10.2.5 Europe Digital Health Technologies Market Forecasts and Analysis - By Product and Service
10.2.6 Europe Digital Health Technologies Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Digital Health Technologies Market
10.2.6.1.1 Germany Digital Health Technologies Market by Component
10.2.6.1.2 Germany Digital Health Technologies Market by End User
10.2.6.1.3 Germany Digital Health Technologies Market by Product and Service
10.2.6.2 France Digital Health Technologies Market
10.2.6.2.1 France Digital Health Technologies Market by Component
10.2.6.2.2 France Digital Health Technologies Market by End User
10.2.6.2.3 France Digital Health Technologies Market by Product and Service
10.2.6.3 Italy Digital Health Technologies Market
10.2.6.3.1 Italy Digital Health Technologies Market by Component
10.2.6.3.2 Italy Digital Health Technologies Market by End User
10.2.6.3.3 Italy Digital Health Technologies Market by Product and Service
10.2.6.4 Spain Digital Health Technologies Market
10.2.6.4.1 Spain Digital Health Technologies Market by Component
10.2.6.4.2 Spain Digital Health Technologies Market by End User
10.2.6.4.3 Spain Digital Health Technologies Market by Product and Service
10.2.6.5 United Kingdom Digital Health Technologies Market
10.2.6.5.1 United Kingdom Digital Health Technologies Market by Component
10.2.6.5.2 United Kingdom Digital Health Technologies Market by End User
10.2.6.5.3 United Kingdom Digital Health Technologies Market by Product and Service
10.2.6.6 Rest of Europe Digital Health Technologies Market
10.2.6.6.1 Rest of Europe Digital Health Technologies Market by Component
10.2.6.6.2 Rest of Europe Digital Health Technologies Market by End User
10.2.6.6.3 Rest of Europe Digital Health Technologies Market by Product and Service
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Digital Health Technologies Market Overview
10.3.2 Asia-Pacific Digital Health Technologies Market Forecasts and Analysis
10.3.3 Asia-Pacific Digital Health Technologies Market Forecasts and Analysis - By Component
10.3.4 Asia-Pacific Digital Health Technologies Market Forecasts and Analysis - By End User
10.3.5 Asia-Pacific Digital Health Technologies Market Forecasts and Analysis - By Product and Service
10.3.6 Asia-Pacific Digital Health Technologies Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Digital Health Technologies Market
10.3.6.1.1 Australia Digital Health Technologies Market by Component
10.3.6.1.2 Australia Digital Health Technologies Market by End User
10.3.6.1.3 Australia Digital Health Technologies Market by Product and Service
10.3.6.2 China Digital Health Technologies Market
10.3.6.2.1 China Digital Health Technologies Market by Component
10.3.6.2.2 China Digital Health Technologies Market by End User
10.3.6.2.3 China Digital Health Technologies Market by Product and Service
10.3.6.3 India Digital Health Technologies Market
10.3.6.3.1 India Digital Health Technologies Market by Component
10.3.6.3.2 India Digital Health Technologies Market by End User
10.3.6.3.3 India Digital Health Technologies Market by Product and Service
10.3.6.4 Japan Digital Health Technologies Market
10.3.6.4.1 Japan Digital Health Technologies Market by Component
10.3.6.4.2 Japan Digital Health Technologies Market by End User
10.3.6.4.3 Japan Digital Health Technologies Market by Product and Service
10.3.6.5 South Korea Digital Health Technologies Market
10.3.6.5.1 South Korea Digital Health Technologies Market by Component
10.3.6.5.2 South Korea Digital Health Technologies Market by End User
10.3.6.5.3 South Korea Digital Health Technologies Market by Product and Service
10.3.6.6 Rest of Asia-Pacific Digital Health Technologies Market
10.3.6.6.1 Rest of Asia-Pacific Digital Health Technologies Market by Component
10.3.6.6.2 Rest of Asia-Pacific Digital Health Technologies Market by End User
10.3.6.6.3 Rest of Asia-Pacific Digital Health Technologies Market by Product and Service
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Digital Health Technologies Market Overview
10.4.2 Middle East and Africa Digital Health Technologies Market Forecasts and Analysis
10.4.3 Middle East and Africa Digital Health Technologies Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa Digital Health Technologies Market Forecasts and Analysis - By End User
10.4.5 Middle East and Africa Digital Health Technologies Market Forecasts and Analysis - By Product and Service
10.4.6 Middle East and Africa Digital Health Technologies Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Digital Health Technologies Market
10.4.6.1.1 South Africa Digital Health Technologies Market by Component
10.4.6.1.2 South Africa Digital Health Technologies Market by End User
10.4.6.1.3 South Africa Digital Health Technologies Market by Product and Service
10.4.6.2 Saudi Arabia Digital Health Technologies Market
10.4.6.2.1 Saudi Arabia Digital Health Technologies Market by Component
10.4.6.2.2 Saudi Arabia Digital Health Technologies Market by End User
10.4.6.2.3 Saudi Arabia Digital Health Technologies Market by Product and Service
10.4.6.3 U.A.E Digital Health Technologies Market
10.4.6.3.1 U.A.E Digital Health Technologies Market by Component
10.4.6.3.2 U.A.E Digital Health Technologies Market by End User
10.4.6.3.3 U.A.E Digital Health Technologies Market by Product and Service
10.4.6.4 Rest of Middle East and Africa Digital Health Technologies Market
10.4.6.4.1 Rest of Middle East and Africa Digital Health Technologies Market by Component
10.4.6.4.2 Rest of Middle East and Africa Digital Health Technologies Market by End User
10.4.6.4.3 Rest of Middle East and Africa Digital Health Technologies Market by Product and Service
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Digital Health Technologies Market Overview
10.5.2 South and Central America Digital Health Technologies Market Forecasts and Analysis
10.5.3 South and Central America Digital Health Technologies Market Forecasts and Analysis - By Component
10.5.4 South and Central America Digital Health Technologies Market Forecasts and Analysis - By End User
10.5.5 South and Central America Digital Health Technologies Market Forecasts and Analysis - By Product and Service
10.5.6 South and Central America Digital Health Technologies Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Digital Health Technologies Market
10.5.6.1.1 Brazil Digital Health Technologies Market by Component
10.5.6.1.2 Brazil Digital Health Technologies Market by End User
10.5.6.1.3 Brazil Digital Health Technologies Market by Product and Service
10.5.6.2 Argentina Digital Health Technologies Market
10.5.6.2.1 Argentina Digital Health Technologies Market by Component
10.5.6.2.2 Argentina Digital Health Technologies Market by End User
10.5.6.2.3 Argentina Digital Health Technologies Market by Product and Service
10.5.6.3 Rest of South and Central America Digital Health Technologies Market
10.5.6.3.1 Rest of South and Central America Digital Health Technologies Market by Component
10.5.6.3.2 Rest of South and Central America Digital Health Technologies Market by End User
10.5.6.3.3 Rest of South and Central America Digital Health Technologies Market by Product and Service
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. DIGITAL HEALTH TECHNOLOGIES MARKET, KEY COMPANY PROFILES
12.1. ALLSCRIPTS HEALTHCARE SOLUTION, 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. CERNER CORPORATION
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. CISCO SYSTEMS
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. ECLINICALWORKS
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. GENERAL ELECTRIC COMPANY
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. KONINKLIJKE PHILIPS N.V.
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. HONEYWELL INTERNATIONAL 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. MCKESSON 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. SIEMANS HEALTHCARE AG
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. QUALCOMM TECHNOLOGIES, 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.Allscripts Healthcare Solution, Inc.
2.Cerner Corporation
3.Cisco systems
4.eCLINICALWORKS
5.General Electric company
6.Koninklijke Philips N.V.
7.Honeywell International Inc.
8.Mckesson Corporation
9.Siemans Healthcare AG
10.Qualcomm technologies, 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.