Online Banking Solution Market Share and Growth (2021-2031)
The Online Banking Solution Market is expected to register a CAGR of 10.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The research on the Online Banking Solution market conducts an in-depth analysis of the current status of this vital industry, while highlighting areas for further growth. They are segmented into banking type, solution, and others. The segmentation would also provide details on particular market dynamics and consumer preferences of different applications.
Purpose of the ReportThe report Online Banking Solution 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.
Online Banking Solution Market Segmentation
Banking Type- Information Services
- Transactional Services
- Customer and Channel Management
- Others
- Payment
- Processing
- customer and channel
- risk management
Strategic Insights
Online Banking Solution Market Growth Drivers- Growth in Fintech: Online banking is bound to keep developing alongside the growth in fintech innovations. Basically, because scrum fintech companies keep pushing the right buttons with their new products and solutions that dare mainstream banking, established banks really do not have much of a choice but to step up their online banking services simply to keep up. Such dynamism nurtures innovation and builds an environment in which banks will be compelled to adapt to constantly evolving customer needs. Increased users exert pressure on the financial institutions to further develop their online services. In essence, this is a race in which the institution has to innovate their services just to meet customer expectations.
- Demand for Convenience: Online banking provides the platform for account management, the ability to execute transactions, and other various financial products at any time of the day. To that effect, it has been said that 59 percent of consumers prefer online banking due to its ease and convenience; banks are also investing in user interfaces and mobile phones. In addition, COVID-19 hastened the adoption of online banking solutions due to lockdown and social distancing, forcing many consumers to shift to digital channels. In fact, McKinsey recorded an astonishing use of digital banking during the pandemic, registering at 20% and with many users suggesting usage for a very long period beyond the loosening of restrictions. Such rapid movement underlines the imperative for hardening digital platforms in banks to make them sufficiently secure to reassure customers.
- Need for Legal Compliance: Banks ensure that this legal compliance inspires higher degrees of trust and confidence among customers. Other key trends of change in the online banking arena are through the integration of artificial intelligence and machine learning. These technologies allow banks to offer personalized services, enhance fraud detection, and improve customer service via chatbots and virtual assistants.
- Dominance in mobile banking: Dominance in mobile banking is an indicator of the most profound trend in the online banking solution market. Changing consumer preferences in the wake of smartphone usage have led consumers to manage their finances increasingly on mobile applications. No wonder, mobile offerings are high on the priority list of most banks, with features such as mobile check deposits, instant fund transfers, and real-time account management. This would further customer convenience and also provide an excellent way to take on competition in digital-first markets. Online banking could also be done with AI in assistance, so as to revolutionize the way it communicates with its customers.
- AI-powered chatbots and virtual assistants: These technologies can handle consumer queries and responses with desired efficiency, deliver personalized advisory services in finance, and generally raise the level of engagement between banks and their customers. With the use of big data analytics, banks can analyze user behavior in order to make interactions and recommendations much more personalized, thus making the experience more rewarding for customers. The main focus of online banking would be on a strong security system. Due to the increase in cyber-related threats, banks have begun their early adoption of multi-factor authentication, biometric verification, and more complex encryption. Full-scale protection over customer data instills trust and confidence in online banking platforms; thus, while still primary, highly secure institutions where safety measures are strong would be a better choice in retaining and attracting customers.
- Personalization of services: With data analytics, a bank gets the opportunity to render personalized financial products and customized services to customers, per each one's needs and preferences. Such personalization enhances satisfaction and increases customer loyalty, as users feel valued and understood. Such banks draw one's attention to financial wellness and, in general, to consumer education. It provides tools for customers in order for them to take control of their finances by setting a budget and achieving savings goals.
- Developing user-friendly mobile applications: Now that consumers increasingly use their smartphones to conduct daily financial transactions, banks can cash in on this trend by developing user-friendly mobile applications through which frictionless experiences can be enabled. Embedding such features as biometric authentication, personalized dashboards, and instant notifications of transactions, therefore, will enhance customer satisfaction and loyalty.
- Offering Innovative Banking Solutions: Even a bank in this regard could present itself as a trusted advisor and hence offer budgeting tools, savings goal trackers, and financial planning resources. This could also mean that with increased interest in sustainability, new opportunities will arise where the banking industry will be able to lead in green finance initiatives-such as eco-friendly investment products or loans for sustainable projects that are in demand by the environmentally conscious consumer.
- Collaboration and Partnership: The sharing of best practices with FinTech firms is building innovation and increasing the services available. This will facilitate old banks with more agile startups to achieve better technological synergy, and introduce newer solutions like blockchain for safe transactions or data analytics for personal, customized marketing.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Online Banking Solution 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 Online Banking Solution 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
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- 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
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
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.
Key players in this market are - ACI Worldwide Inc, Broadridge Financial Solutions Inc, Capital Banking Solutions, Cor Financial Solutions Limited, EdgeVerve Systems Limited, Fiserv Inc, Nelito Systems Ltd, Oracle Corporation, SAB2I
The online banking solution market is characterized by trends such as the dominance of mobile banking, the integration of AI, enhanced security measures, personalization of services, and a focus on financial wellness.
The market is expected to register a CAGR of 10.5% during 2023-2031
The main driving factors for the online banking solution market would be increasing digital adoption, consumer demand for convenient services, the influence of COVID-19, security issues, regulatory compliance, integration of AI technologies, and the impact of fintech innovations. As such, interlinked factors create a future of banking where electronic solutions become an inevitable element of financial organizations that have set goals to please modern consumers as well as enjoy a higher level of competitiveness.
TABLE OF CONTENTS
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Online Banking Solution Market - By Banking Type
1.3.2Online Banking Solution Market - By Solution
1.3.3Online Banking Solution Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.ONLINE BANKING SOLUTION MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.ONLINE BANKING SOLUTION 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.ONLINE BANKING SOLUTION MARKET - GLOBAL MARKET ANALYSIS
6.1.ONLINE BANKING SOLUTION - GLOBAL MARKET OVERVIEW
6.2.ONLINE BANKING SOLUTION - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.ONLINE BANKING SOLUTION MARKET - REVENUE AND FORECASTS TO 2028 - BANKING TYPE
7.1.OVERVIEW
7.2.BANKING TYPE MARKET FORECASTS AND ANALYSIS
7.3.INFORMATIONAL SERVICES
7.3.1.Overview
7.3.2.Informational Services Market Forecast and Analysis
7.4.TRANSACTIONAL SERVICES
7.4.1.Overview
7.4.2.Transactional Services Market Forecast and Analysis
7.5.COMMUNICATIVE SERVICES
7.5.1.Overview
7.5.2.Communicative services Market Forecast and Analysis
8.ONLINE BANKING SOLUTION MARKET - REVENUE AND FORECASTS TO 2028 - SOLUTION
8.1.OVERVIEW
8.2.SOLUTION MARKET FORECASTS AND ANALYSIS
8.3.PAYMENTS
8.3.1.Overview
8.3.2.Payments Market Forecast and Analysis
8.4.PROCESSING SERVICES
8.4.1.Overview
8.4.2.Processing Services Market Forecast and Analysis
8.5.CUSTOMER AND CHANNEL MANAGEMENT
8.5.1.Overview
8.5.2.Customer and Channel Management Market Forecast and Analysis
8.6.RISK MANAGEMENT
8.6.1.Overview
8.6.2.Risk Management Market Forecast and Analysis
8.7.OTHERS
8.7.1.Overview
8.7.2.Others Market Forecast and Analysis
9.ONLINE BANKING SOLUTION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Online Banking Solution Market Overview
9.1.2North America Online Banking Solution Market Forecasts and Analysis
9.1.3North America Online Banking Solution Market Forecasts and Analysis - By Banking Type
9.1.4North America Online Banking Solution Market Forecasts and Analysis - By Solution
9.1.5North America Online Banking Solution Market Forecasts and Analysis - By Countries
9.1.5.1United States Online Banking Solution Market
9.1.5.1.1United States Online Banking Solution Market by Banking Type
9.1.5.1.2United States Online Banking Solution Market by Solution
9.1.5.2Canada Online Banking Solution Market
9.1.5.2.1Canada Online Banking Solution Market by Banking Type
9.1.5.2.2Canada Online Banking Solution Market by Solution
9.1.5.3Mexico Online Banking Solution Market
9.1.5.3.1Mexico Online Banking Solution Market by Banking Type
9.1.5.3.2Mexico Online Banking Solution Market by Solution
9.2.EUROPE
9.2.1Europe Online Banking Solution Market Overview
9.2.2Europe Online Banking Solution Market Forecasts and Analysis
9.2.3Europe Online Banking Solution Market Forecasts and Analysis - By Banking Type
9.2.4Europe Online Banking Solution Market Forecasts and Analysis - By Solution
9.2.5Europe Online Banking Solution Market Forecasts and Analysis - By Countries
9.2.5.1Germany Online Banking Solution Market
9.2.5.1.1Germany Online Banking Solution Market by Banking Type
9.2.5.1.2Germany Online Banking Solution Market by Solution
9.2.5.2France Online Banking Solution Market
9.2.5.2.1France Online Banking Solution Market by Banking Type
9.2.5.2.2France Online Banking Solution Market by Solution
9.2.5.3Italy Online Banking Solution Market
9.2.5.3.1Italy Online Banking Solution Market by Banking Type
9.2.5.3.2Italy Online Banking Solution Market by Solution
9.2.5.4United Kingdom Online Banking Solution Market
9.2.5.4.1United Kingdom Online Banking Solution Market by Banking Type
9.2.5.4.2United Kingdom Online Banking Solution Market by Solution
9.2.5.5Russia Online Banking Solution Market
9.2.5.5.1Russia Online Banking Solution Market by Banking Type
9.2.5.5.2Russia Online Banking Solution Market by Solution
9.2.5.6Rest of Europe Online Banking Solution Market
9.2.5.6.1Rest of Europe Online Banking Solution Market by Banking Type
9.2.5.6.2Rest of Europe Online Banking Solution Market by Solution
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Online Banking Solution Market Overview
9.3.2Asia-Pacific Online Banking Solution Market Forecasts and Analysis
9.3.3Asia-Pacific Online Banking Solution Market Forecasts and Analysis - By Banking Type
9.3.4Asia-Pacific Online Banking Solution Market Forecasts and Analysis - By Solution
9.3.5Asia-Pacific Online Banking Solution Market Forecasts and Analysis - By Countries
9.3.5.1Australia Online Banking Solution Market
9.3.5.1.1Australia Online Banking Solution Market by Banking Type
9.3.5.1.2Australia Online Banking Solution Market by Solution
9.3.5.2China Online Banking Solution Market
9.3.5.2.1China Online Banking Solution Market by Banking Type
9.3.5.2.2China Online Banking Solution Market by Solution
9.3.5.3India Online Banking Solution Market
9.3.5.3.1India Online Banking Solution Market by Banking Type
9.3.5.3.2India Online Banking Solution Market by Solution
9.3.5.4Japan Online Banking Solution Market
9.3.5.4.1Japan Online Banking Solution Market by Banking Type
9.3.5.4.2Japan Online Banking Solution Market by Solution
9.3.5.5South Korea Online Banking Solution Market
9.3.5.5.1South Korea Online Banking Solution Market by Banking Type
9.3.5.5.2South Korea Online Banking Solution Market by Solution
9.3.5.6Rest of Asia-Pacific Online Banking Solution Market
9.3.5.6.1Rest of Asia-Pacific Online Banking Solution Market by Banking Type
9.3.5.6.2Rest of Asia-Pacific Online Banking Solution Market by Solution
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Online Banking Solution Market Overview
9.4.2Middle East and Africa Online Banking Solution Market Forecasts and Analysis
9.4.3Middle East and Africa Online Banking Solution Market Forecasts and Analysis - By Banking Type
9.4.4Middle East and Africa Online Banking Solution Market Forecasts and Analysis - By Solution
9.4.5Middle East and Africa Online Banking Solution Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Online Banking Solution Market
9.4.5.1.1South Africa Online Banking Solution Market by Banking Type
9.4.5.1.2South Africa Online Banking Solution Market by Solution
9.4.5.2Saudi Arabia Online Banking Solution Market
9.4.5.2.1Saudi Arabia Online Banking Solution Market by Banking Type
9.4.5.2.2Saudi Arabia Online Banking Solution Market by Solution
9.4.5.3U.A.E Online Banking Solution Market
9.4.5.3.1U.A.E Online Banking Solution Market by Banking Type
9.4.5.3.2U.A.E Online Banking Solution Market by Solution
9.4.5.4Rest of Middle East and Africa Online Banking Solution Market
9.4.5.4.1Rest of Middle East and Africa Online Banking Solution Market by Banking Type
9.4.5.4.2Rest of Middle East and Africa Online Banking Solution Market by Solution
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Online Banking Solution Market Overview
9.5.2South and Central America Online Banking Solution Market Forecasts and Analysis
9.5.3South and Central America Online Banking Solution Market Forecasts and Analysis - By Banking Type
9.5.4South and Central America Online Banking Solution Market Forecasts and Analysis - By Solution
9.5.5South and Central America Online Banking Solution Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Online Banking Solution Market
9.5.5.1.1Brazil Online Banking Solution Market by Banking Type
9.5.5.1.2Brazil Online Banking Solution Market by Solution
9.5.5.2Argentina Online Banking Solution Market
9.5.5.2.1Argentina Online Banking Solution Market by Banking Type
9.5.5.2.2Argentina Online Banking Solution Market by Solution
9.5.5.3Rest of South and Central America Online Banking Solution Market
9.5.5.3.1Rest of South and Central America Online Banking Solution Market by Banking Type
9.5.5.3.2Rest of South and Central America Online Banking Solution Market by Solution
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.ONLINE BANKING SOLUTION MARKET, KEY COMPANY PROFILES
11.1.ACI WORLDWIDE, INC.
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.BROADRIDGE FINANCIAL SOLUTIONS, INC.
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.CAPITAL BANKING SOLUTIONS
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.COR FINANCIAL SOLUTIONS LIMITED
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.EDGEVERVE SYSTEMS LIMITED
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.FISERV, INC.
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.NELITO SYSTEMS LTD.
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.ORACLE CORPORATION
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.SAB2I
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.TEMENOS GROUP AG
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
The List of Companies
1. ACI Worldwide, Inc.
2. Broadridge Financial Solutions, Inc.
3. Capital Banking Solutions
4. Cor Financial Solutions Limited
5. EdgeVerve Systems Limited
6. Fiserv, Inc.
7. Nelito Systems Ltd.
8. Oracle Corporation
9. SAB2I
10. Temenos Group AG
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.
Get Free Sample For