IT Asset Management Market Research Report 2021-2031
The IT Asset Management Market is expected to register a CAGR of 7.0% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The research report is categorized into the following subsegments: deployment, enterprise size, end user, and geography. The global analysis is broken down at the regional level and major countries. The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the ReportThe report IT Asset Management 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.
IT Asset Management Market Segmentation
Deployment- Cloud
- On-Premises
- Small and Medium Enterprises
- Large Enterprises
- BFSI
- IT and Telecom
- HealthCare
- Transportation
- Manufacturing
- Others
- North America
- Europe
- Asia Pacific
- South and Central America
- North America
- Europe
- Asia Pacific
- South and Central America
Strategic Insights
IT Asset Management Market Growth Drivers- Compliance with regulations: The strict data privacy regulations such as GDPR and CCPA demand that compliance should be maintained by handling the IT assets appropriately.
- Cost Optimization: ITAM would facilitate an organization to optimize its investments in hardware and software through the identification of unused/redundant assets. In sum, organizations can reduce expenditure on buying hardware and software, licensing, maintenance, and disposal through well-managed IT assets.
- Improved Business Efficiency: ITAM will have the organization track and manage its IT assets efficiently, hence improving operation efficiency. Accurate ITAM data will contribute to making informed decisions concerning investments in IT and resource allocation. IT asset management helps handle risks, as it identifies asset failures, security breaches, and incidents of non-compliance. This can help organizations arrive at better decisions regarding replacements, repairs, and updates of systems. Eventually, the interlinking of ITAM practices with sustainability objectives can act as a catalyst in meeting organizational eco-friendliness, brand reputation, and regulatory compliance; hence, ITAM is an ingredient of every sustainability strategy.
- Data security and privacy: IT asset management becomes important in light of the increased rate of data breach incidents. The sensitive information, therefore, needs to be treated in strict allegiance to the regulations concerning data privacy, such as the General Data Protection Regulation and the California Consumer Privacy Act.
- Integration of the Internet of Things: IoT devices will bring in the tracking and monitoring of IT assets in their whole lifecycle for predictable maintenance, reducing downtime and prolonging the life of the IT equipment.
- Blockchain technology: Blockchain ensures complete transparency in traceability for the supply chain of IT assets, allowing the security of data and prohibiting unauthorized access. Verification of the authenticity of assets can be made through blockchain, and the management of lifecycle assets can also be done in highly compliance-oriented industries.
- The proliferation of AI: AI, ranging from streamlining work to managing portfolios, can manage all the operations at work. AI can serve as a facilitator for companies to transition away from due diligence towards a more dynamic approach.
- Increased complexity in IT: challenge of managing rapidly changing IT infrastructure has grown over recent years. This is done by consolidating asset information wherein it is possible for companies to track its usage irrespective of its location.
- Market Penetration: Most SMEs have weak ITAM practices; thus, the market opportunity is huge.
- Leveraging Emerging Technologies: Leverage AI to automate ITAM tasks and extract predictive analytics to gain further efficiencies and enhanced decision-making. many companies are migrating to cloud. Cloud ITAM solutions are preferred for their real-time tracking and management. Integration of IOT devices in workplaces necessitates need for tracking. IOT ensures devices remain connected and secure.
- Industry-Specific Solutions: Devise industry-specific ITAM solutions that will provide the competitive edge required for taking up ITAM solutions among healthcare, finance, and manufacturing industries.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the IT Asset Management 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 IT Asset Management 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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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- 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 market is expected to register a CAGR of 7.0% during 2023–2031
Increased regulatory compliance, Cost optimization, and improved efficiency are key drivers of market growth.
Increased emphasis on data security, integration of Internet of Things, and Blockchain technology are key future trends in this market
Asset Panda, BMC Software, Inc., USU Software AG, Flexera, Freshworks Inc., Hewlett Packard Enterprise Development LP, SolarWinds Worldwide, LLC., Ivanti, and ServiceNow are key players in this market
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 request are 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
1.3.1 IT Asset Management Market - By Deployment
1.3.2 IT Asset Management Market - By Enterprise Size
1.3.3 IT Asset Management Market - By End User
1.3.4 IT Asset Management Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. IT ASSET MANAGEMENT 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. IT ASSET MANAGEMENT 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. IT ASSET MANAGEMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. IT ASSET MANAGEMENT - GLOBAL MARKET OVERVIEW
6.2. IT ASSET MANAGEMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. IT ASSET MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT
7.1. OVERVIEW
7.2. DEPLOYMENT MARKET FORECASTS AND ANALYSIS
7.3. CLOUD
7.3.1. Overview
7.3.2. Cloud Market Forecast and Analysis
7.4. ON-PREMISES
7.4.1. Overview
7.4.2. On-Premises Market Forecast and Analysis
8. IT ASSET MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - ENTERPRISE SIZE
8.1. OVERVIEW
8.2. ENTERPRISE SIZE MARKET FORECASTS AND ANALYSIS
8.3. SMALL AND MEDIUM ENTERPRISES
8.3.1. Overview
8.3.2. Small and Medium Enterprises Market Forecast and Analysis
8.4. LARGE ENTERPRISES
8.4.1. Overview
8.4.2. Large Enterprises Market Forecast and Analysis
9. IT ASSET MANAGEMENT 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. 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. TRANSPORTATION
9.6.1. Overview
9.6.2. Transportation Market Forecast and Analysis
9.7. MANUFACTURING
9.7.1. Overview
9.7.2. Manufacturing Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. IT ASSET MANAGEMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America IT Asset Management Market Overview
10.1.2 North America IT Asset Management Market Forecasts and Analysis
10.1.3 North America IT Asset Management Market Forecasts and Analysis - By Deployment
10.1.4 North America IT Asset Management Market Forecasts and Analysis - By Enterprise Size
10.1.5 North America IT Asset Management Market Forecasts and Analysis - By End User
10.1.6 North America IT Asset Management Market Forecasts and Analysis - By Countries
10.1.6.1 United States IT Asset Management Market
10.1.6.1.1 United States IT Asset Management Market by Deployment
10.1.6.1.2 United States IT Asset Management Market by Enterprise Size
10.1.6.1.3 United States IT Asset Management Market by End User
10.1.6.2 Canada IT Asset Management Market
10.1.6.2.1 Canada IT Asset Management Market by Deployment
10.1.6.2.2 Canada IT Asset Management Market by Enterprise Size
10.1.6.2.3 Canada IT Asset Management Market by End User
10.1.6.3 Mexico IT Asset Management Market
10.1.6.3.1 Mexico IT Asset Management Market by Deployment
10.1.6.3.2 Mexico IT Asset Management Market by Enterprise Size
10.1.6.3.3 Mexico IT Asset Management Market by End User
10.2. EUROPE
10.2.1 Europe IT Asset Management Market Overview
10.2.2 Europe IT Asset Management Market Forecasts and Analysis
10.2.3 Europe IT Asset Management Market Forecasts and Analysis - By Deployment
10.2.4 Europe IT Asset Management Market Forecasts and Analysis - By Enterprise Size
10.2.5 Europe IT Asset Management Market Forecasts and Analysis - By End User
10.2.6 Europe IT Asset Management Market Forecasts and Analysis - By Countries
10.2.6.1 Germany IT Asset Management Market
10.2.6.1.1 Germany IT Asset Management Market by Deployment
10.2.6.1.2 Germany IT Asset Management Market by Enterprise Size
10.2.6.1.3 Germany IT Asset Management Market by End User
10.2.6.2 France IT Asset Management Market
10.2.6.2.1 France IT Asset Management Market by Deployment
10.2.6.2.2 France IT Asset Management Market by Enterprise Size
10.2.6.2.3 France IT Asset Management Market by End User
10.2.6.3 Italy IT Asset Management Market
10.2.6.3.1 Italy IT Asset Management Market by Deployment
10.2.6.3.2 Italy IT Asset Management Market by Enterprise Size
10.2.6.3.3 Italy IT Asset Management Market by End User
10.2.6.4 United Kingdom IT Asset Management Market
10.2.6.4.1 United Kingdom IT Asset Management Market by Deployment
10.2.6.4.2 United Kingdom IT Asset Management Market by Enterprise Size
10.2.6.4.3 United Kingdom IT Asset Management Market by End User
10.2.6.5 Russia IT Asset Management Market
10.2.6.5.1 Russia IT Asset Management Market by Deployment
10.2.6.5.2 Russia IT Asset Management Market by Enterprise Size
10.2.6.5.3 Russia IT Asset Management Market by End User
10.2.6.6 Rest of Europe IT Asset Management Market
10.2.6.6.1 Rest of Europe IT Asset Management Market by Deployment
10.2.6.6.2 Rest of Europe IT Asset Management Market by Enterprise Size
10.2.6.6.3 Rest of Europe IT Asset Management Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific IT Asset Management Market Overview
10.3.2 Asia-Pacific IT Asset Management Market Forecasts and Analysis
10.3.3 Asia-Pacific IT Asset Management Market Forecasts and Analysis - By Deployment
10.3.4 Asia-Pacific IT Asset Management Market Forecasts and Analysis - By Enterprise Size
10.3.5 Asia-Pacific IT Asset Management Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific IT Asset Management Market Forecasts and Analysis - By Countries
10.3.6.1 Australia IT Asset Management Market
10.3.6.1.1 Australia IT Asset Management Market by Deployment
10.3.6.1.2 Australia IT Asset Management Market by Enterprise Size
10.3.6.1.3 Australia IT Asset Management Market by End User
10.3.6.2 China IT Asset Management Market
10.3.6.2.1 China IT Asset Management Market by Deployment
10.3.6.2.2 China IT Asset Management Market by Enterprise Size
10.3.6.2.3 China IT Asset Management Market by End User
10.3.6.3 India IT Asset Management Market
10.3.6.3.1 India IT Asset Management Market by Deployment
10.3.6.3.2 India IT Asset Management Market by Enterprise Size
10.3.6.3.3 India IT Asset Management Market by End User
10.3.6.4 Japan IT Asset Management Market
10.3.6.4.1 Japan IT Asset Management Market by Deployment
10.3.6.4.2 Japan IT Asset Management Market by Enterprise Size
10.3.6.4.3 Japan IT Asset Management Market by End User
10.3.6.5 South Korea IT Asset Management Market
10.3.6.5.1 South Korea IT Asset Management Market by Deployment
10.3.6.5.2 South Korea IT Asset Management Market by Enterprise Size
10.3.6.5.3 South Korea IT Asset Management Market by End User
10.3.6.6 Rest of Asia-Pacific IT Asset Management Market
10.3.6.6.1 Rest of Asia-Pacific IT Asset Management Market by Deployment
10.3.6.6.2 Rest of Asia-Pacific IT Asset Management Market by Enterprise Size
10.3.6.6.3 Rest of Asia-Pacific IT Asset Management Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa IT Asset Management Market Overview
10.4.2 Middle East and Africa IT Asset Management Market Forecasts and Analysis
10.4.3 Middle East and Africa IT Asset Management Market Forecasts and Analysis - By Deployment
10.4.4 Middle East and Africa IT Asset Management Market Forecasts and Analysis - By Enterprise Size
10.4.5 Middle East and Africa IT Asset Management Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa IT Asset Management Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa IT Asset Management Market
10.4.6.1.1 South Africa IT Asset Management Market by Deployment
10.4.6.1.2 South Africa IT Asset Management Market by Enterprise Size
10.4.6.1.3 South Africa IT Asset Management Market by End User
10.4.6.2 Saudi Arabia IT Asset Management Market
10.4.6.2.1 Saudi Arabia IT Asset Management Market by Deployment
10.4.6.2.2 Saudi Arabia IT Asset Management Market by Enterprise Size
10.4.6.2.3 Saudi Arabia IT Asset Management Market by End User
10.4.6.3 U.A.E IT Asset Management Market
10.4.6.3.1 U.A.E IT Asset Management Market by Deployment
10.4.6.3.2 U.A.E IT Asset Management Market by Enterprise Size
10.4.6.3.3 U.A.E IT Asset Management Market by End User
10.4.6.4 Rest of Middle East and Africa IT Asset Management Market
10.4.6.4.1 Rest of Middle East and Africa IT Asset Management Market by Deployment
10.4.6.4.2 Rest of Middle East and Africa IT Asset Management Market by Enterprise Size
10.4.6.4.3 Rest of Middle East and Africa IT Asset Management Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America IT Asset Management Market Overview
10.5.2 South and Central America IT Asset Management Market Forecasts and Analysis
10.5.3 South and Central America IT Asset Management Market Forecasts and Analysis - By Deployment
10.5.4 South and Central America IT Asset Management Market Forecasts and Analysis - By Enterprise Size
10.5.5 South and Central America IT Asset Management Market Forecasts and Analysis - By End User
10.5.6 South and Central America IT Asset Management Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil IT Asset Management Market
10.5.6.1.1 Brazil IT Asset Management Market by Deployment
10.5.6.1.2 Brazil IT Asset Management Market by Enterprise Size
10.5.6.1.3 Brazil IT Asset Management Market by End User
10.5.6.2 Argentina IT Asset Management Market
10.5.6.2.1 Argentina IT Asset Management Market by Deployment
10.5.6.2.2 Argentina IT Asset Management Market by Enterprise Size
10.5.6.2.3 Argentina IT Asset Management Market by End User
10.5.6.3 Rest of South and Central America IT Asset Management Market
10.5.6.3.1 Rest of South and Central America IT Asset Management Market by Deployment
10.5.6.3.2 Rest of South and Central America IT Asset Management Market by Enterprise Size
10.5.6.3.3 Rest of South and Central America IT Asset Management 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. IT ASSET MANAGEMENT MARKET, KEY COMPANY PROFILES
12.1. ASSET PANDA
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. BMC SOFTWARE, 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. USU SOFTWARE AG
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. FLEXERA
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. FRESHWORKS 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. HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP
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. SOLARWINDS WORLDWIDE, LLC.
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. IVANTI
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. SERVICENOW
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. SYNETIC TECHNOLOGIES
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.Asset Panda
2.BMC Software, Inc.
3.USU Software AG
4.Flexera
5.Freshworks Inc.
6.Hewlett Packard Enterprise Development LP
7.SolarWinds Worldwide, LLC.
8.Ivanti
9.ServiceNow
10.Synetic Technologies
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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