The Patient Identity Resolution Software Market is expected to register a CAGR of 15.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Patient Identity Resolution Software Market research report covers segmental analysis By Type (Cloud-Based, Web-Based) and End-Users (Clinics, Hospitals). The global analysis is further broken-down at the regional level and major countries. The Report Offers the Value in US$ for the above analysis and segments.
Purpose of the ReportThe report Patient Identity Resolution Software 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.
Patient Identity Resolution Software Market Segmentation
Type- Cloud-Based
- Web-Based
- Clinics
- Hospitals
Strategic Insights
Patient Identity Resolution Software Market Growth Drivers- Regulatory Compliance Drives Demand: In addition to cost savings, with the increasing stringency of regulatory compliance measures such as HIPAA in the United States and GDPR in Europe, healthcare organizations are putting more emphasis on ensuring patient identity resolution to maintain compliance in this regard. The more precise and accurate an organization is about patient information, the lower the probability or number of data breaches, thus better patient privacy. The need for such identity resolution among healthcare providers and organizations will drive the expertise in the field, encouraging them to spend more on these identity resolution solutions to maintain compliance while improving data accuracy, in turn, propelling the growth of the market for these software solutions.
- EHR Adoption Increases Need: Widespread utilities of EHR are leading to a greater demand for patient identity resolution. EHR can’t function properly without accurate linking of the patient’s identity. EHR needs high-quality identification processing to link and consolidate openly available patient data to minimize the risk of duplicates and information inconsistency. Medical suppliers with huge patient data, striving to switch from paper-based systems to EHR systems will also contribute to the growth of the patient identity resolution market in the foreseeable future.
- Explosion of Healthcare Data: The increased explosion of healthcare data has resulted from the forced digital transformation of the industry. This increase in data creation from new data-aware patient tracking systems, digital health records, and virtual appointments has resulted in patients reaching their 38th birthday before knowing they have multiple patients, with distinct or merged identity records. Solutions that enable providers to manage the increasing explosion in data with correct identity resolution are driving market growth.
- Data Interoperability Boosts Demand: The ongoing surge in the need for data interoperability will continue to grow as health systems, hospitals and other entities increasingly demand to share data, while minimizing duplication and errors around the identification of patients. Corporate alignment with government mandates, or the development of procurement strategies that incorporate generalist standards, might prove to be a powerful tool for achieving consistency in best practices across the health ecosystem. Each of these three technology solutions is being developed and deployed expressly to enable health information exchange. All three share a common mission of enhancing care coordination, bolstering patient safety, and improving outcomes. This is accomplished by ensuring that all members of a care team have access to timely and accurate information about their patients.
- Cybersecurity Elevates Privacy Focus: In light of rising cybersecurity concerns, patient identity resolution software providers are now giving more attention to privacy and security features. Features such as advanced encryption, multi-factor authentication, and compliance with regulations such as HIPAA (the Health Insurance Portability and Accountability Act) are being implemented as best practices. Trust is the foundation of patient-provider relationships, but so is patient safety: implementing measures to prevent patient identity theft is crucial for earnestly evaluating healthcare outcomes.
- Improved Technology Integrates Data: As patient identity resolution software continues to improve how individual patient data are matched and brought forward, the integration of healthcare technology has reached another significant milestone. This new iteration is primarily about putting the person at the center of the healthcare experience by stitching previously siloed data into coherent and accurate patient profiles. Even as more healthcare organizations speak to the need to provide the ‘consumer experience’ for patients, industry experts point to the positive implications these advances could have for improved communication and satisfaction.
- Telecom Solutions Strengthen Verification: Solutions that use telecommunications such as SMS or mobile apps can strengthen identity verification in remote healthcare services. By automating identity resolution over telemedicine communications, companies can ease this burden in two ways. First, they can use SMS or in-app forms to quickly contact patients and verify their identity - for example, by asking them to set up a telehealth account, create a passcode, or schedule a ‘visual’ to more quickly confirm it. Second, a secure phone number or mobile app that stores authentication data can provide a record to prove that an identity resolution was performed, which can be important for medical recordkeeping and reimbursement. Having solutions adapted to the complexity and scale of delivering remote care can help companies tackle the growing momentum for telemedicine while helping to mitigate well-founded concerns about privacy and identity security
- Incorporating Social Determinants Enhances: Developing patient identity resolution software, inclusive of social determinants of health has the opportunity to create a more holistic understanding of patient need. The opportunity to lead this charge and become innovators as supporters of holistic patient health and advancers of health equity represents an opportunity that software providers cannot afford to ignore.
- Collaboration Expands Market Reach: Collaborations with Health Information Exchanges can set the stage for patient identity resolution software to advance data-sharing and interoperability across healthcare systems, improving the accuracy of patient data and, thus, enabling care providers to give coordinated care. By positioning their software as critical for HIE integration - if the requirements for data interoperability are addressed - firms can gain market expansion as well as earned reputational capital.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Patient Identity Resolution Software 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 Patient Identity Resolution Software 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
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 companies of this market are: Acxiom LLC, Avatier, Beta Systems IAM Software AG, Experian Information Solutions Inc, Health Catalyst, HealthVerity Inc, Imprivata Inc, InterSystems Corporation, LexisNexis Risk Solutions Group.
The Patient Identity Resolution Software Market is expected to register a CAGR of 15.5% from 2023-2031.
Key future trends in this market are - 3D modeling advancements, Integration with AI tools, Customizable design solutions
The major factors impacting the Patient Identity Resolution Software Market are: Increased Healthcare Data Volume, Increasing Regulatory Compliance, and Rising Demand for Enhanced Patient Experience
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Patient Identity Resolution Software Market - By Type
1.3.2 Patient Identity Resolution Software Market - By End-Users
1.3.3 Patient Identity Resolution Software Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PATIENT IDENTITY RESOLUTION SOFTWARE 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. PATIENT IDENTITY RESOLUTION SOFTWARE 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. PATIENT IDENTITY RESOLUTION SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1. PATIENT IDENTITY RESOLUTION SOFTWARE - GLOBAL MARKET OVERVIEW
6.2. PATIENT IDENTITY RESOLUTION SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PATIENT IDENTITY RESOLUTION SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CLOUD-BASED
7.3.1. Overview
7.3.2. Cloud-Based Market Forecast and Analysis
7.4. WEB-BASED
7.4.1. Overview
7.4.2. Web-Based Market Forecast and Analysis
8. PATIENT IDENTITY RESOLUTION SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - END-USERS
8.1. OVERVIEW
8.2. END-USERS MARKET FORECASTS AND ANALYSIS
8.3. CLINICS
8.3.1. Overview
8.3.2. Clinics Market Forecast and Analysis
8.4. HOSPITALS
8.4.1. Overview
8.4.2. Hospitals Market Forecast and Analysis
9. PATIENT IDENTITY RESOLUTION SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Patient Identity Resolution Software Market Overview
9.1.2 North America Patient Identity Resolution Software Market Forecasts and Analysis
9.1.3 North America Patient Identity Resolution Software Market Forecasts and Analysis - By Type
9.1.4 North America Patient Identity Resolution Software Market Forecasts and Analysis - By End-Users
9.1.5 North America Patient Identity Resolution Software Market Forecasts and Analysis - By Countries
9.1.5.1 United States Patient Identity Resolution Software Market
9.1.5.1.1 United States Patient Identity Resolution Software Market by Type
9.1.5.1.2 United States Patient Identity Resolution Software Market by End-Users
9.1.5.2 Canada Patient Identity Resolution Software Market
9.1.5.2.1 Canada Patient Identity Resolution Software Market by Type
9.1.5.2.2 Canada Patient Identity Resolution Software Market by End-Users
9.1.5.3 Mexico Patient Identity Resolution Software Market
9.1.5.3.1 Mexico Patient Identity Resolution Software Market by Type
9.1.5.3.2 Mexico Patient Identity Resolution Software Market by End-Users
9.2. EUROPE
9.2.1 Europe Patient Identity Resolution Software Market Overview
9.2.2 Europe Patient Identity Resolution Software Market Forecasts and Analysis
9.2.3 Europe Patient Identity Resolution Software Market Forecasts and Analysis - By Type
9.2.4 Europe Patient Identity Resolution Software Market Forecasts and Analysis - By End-Users
9.2.5 Europe Patient Identity Resolution Software Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Patient Identity Resolution Software Market
9.2.5.1.1 Germany Patient Identity Resolution Software Market by Type
9.2.5.1.2 Germany Patient Identity Resolution Software Market by End-Users
9.2.5.2 France Patient Identity Resolution Software Market
9.2.5.2.1 France Patient Identity Resolution Software Market by Type
9.2.5.2.2 France Patient Identity Resolution Software Market by End-Users
9.2.5.3 Italy Patient Identity Resolution Software Market
9.2.5.3.1 Italy Patient Identity Resolution Software Market by Type
9.2.5.3.2 Italy Patient Identity Resolution Software Market by End-Users
9.2.5.4 United Kingdom Patient Identity Resolution Software Market
9.2.5.4.1 United Kingdom Patient Identity Resolution Software Market by Type
9.2.5.4.2 United Kingdom Patient Identity Resolution Software Market by End-Users
9.2.5.5 Russia Patient Identity Resolution Software Market
9.2.5.5.1 Russia Patient Identity Resolution Software Market by Type
9.2.5.5.2 Russia Patient Identity Resolution Software Market by End-Users
9.2.5.6 Rest of Europe Patient Identity Resolution Software Market
9.2.5.6.1 Rest of Europe Patient Identity Resolution Software Market by Type
9.2.5.6.2 Rest of Europe Patient Identity Resolution Software Market by End-Users
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Patient Identity Resolution Software Market Overview
9.3.2 Asia-Pacific Patient Identity Resolution Software Market Forecasts and Analysis
9.3.3 Asia-Pacific Patient Identity Resolution Software Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Patient Identity Resolution Software Market Forecasts and Analysis - By End-Users
9.3.5 Asia-Pacific Patient Identity Resolution Software Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Patient Identity Resolution Software Market
9.3.5.1.1 Australia Patient Identity Resolution Software Market by Type
9.3.5.1.2 Australia Patient Identity Resolution Software Market by End-Users
9.3.5.2 China Patient Identity Resolution Software Market
9.3.5.2.1 China Patient Identity Resolution Software Market by Type
9.3.5.2.2 China Patient Identity Resolution Software Market by End-Users
9.3.5.3 India Patient Identity Resolution Software Market
9.3.5.3.1 India Patient Identity Resolution Software Market by Type
9.3.5.3.2 India Patient Identity Resolution Software Market by End-Users
9.3.5.4 Japan Patient Identity Resolution Software Market
9.3.5.4.1 Japan Patient Identity Resolution Software Market by Type
9.3.5.4.2 Japan Patient Identity Resolution Software Market by End-Users
9.3.5.5 South Korea Patient Identity Resolution Software Market
9.3.5.5.1 South Korea Patient Identity Resolution Software Market by Type
9.3.5.5.2 South Korea Patient Identity Resolution Software Market by End-Users
9.3.5.6 Rest of Asia-Pacific Patient Identity Resolution Software Market
9.3.5.6.1 Rest of Asia-Pacific Patient Identity Resolution Software Market by Type
9.3.5.6.2 Rest of Asia-Pacific Patient Identity Resolution Software Market by End-Users
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Patient Identity Resolution Software Market Overview
9.4.2 Middle East and Africa Patient Identity Resolution Software Market Forecasts and Analysis
9.4.3 Middle East and Africa Patient Identity Resolution Software Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Patient Identity Resolution Software Market Forecasts and Analysis - By End-Users
9.4.5 Middle East and Africa Patient Identity Resolution Software Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Patient Identity Resolution Software Market
9.4.5.1.1 South Africa Patient Identity Resolution Software Market by Type
9.4.5.1.2 South Africa Patient Identity Resolution Software Market by End-Users
9.4.5.2 Saudi Arabia Patient Identity Resolution Software Market
9.4.5.2.1 Saudi Arabia Patient Identity Resolution Software Market by Type
9.4.5.2.2 Saudi Arabia Patient Identity Resolution Software Market by End-Users
9.4.5.3 U.A.E Patient Identity Resolution Software Market
9.4.5.3.1 U.A.E Patient Identity Resolution Software Market by Type
9.4.5.3.2 U.A.E Patient Identity Resolution Software Market by End-Users
9.4.5.4 Rest of Middle East and Africa Patient Identity Resolution Software Market
9.4.5.4.1 Rest of Middle East and Africa Patient Identity Resolution Software Market by Type
9.4.5.4.2 Rest of Middle East and Africa Patient Identity Resolution Software Market by End-Users
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Patient Identity Resolution Software Market Overview
9.5.2 South and Central America Patient Identity Resolution Software Market Forecasts and Analysis
9.5.3 South and Central America Patient Identity Resolution Software Market Forecasts and Analysis - By Type
9.5.4 South and Central America Patient Identity Resolution Software Market Forecasts and Analysis - By End-Users
9.5.5 South and Central America Patient Identity Resolution Software Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Patient Identity Resolution Software Market
9.5.5.1.1 Brazil Patient Identity Resolution Software Market by Type
9.5.5.1.2 Brazil Patient Identity Resolution Software Market by End-Users
9.5.5.2 Argentina Patient Identity Resolution Software Market
9.5.5.2.1 Argentina Patient Identity Resolution Software Market by Type
9.5.5.2.2 Argentina Patient Identity Resolution Software Market by End-Users
9.5.5.3 Rest of South and Central America Patient Identity Resolution Software Market
9.5.5.3.1 Rest of South and Central America Patient Identity Resolution Software Market by Type
9.5.5.3.2 Rest of South and Central America Patient Identity Resolution Software Market by End-Users
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. PATIENT IDENTITY RESOLUTION SOFTWARE MARKET, KEY COMPANY PROFILES
11.1. ACXIOM LLC
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. AVATIER
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. BETA SYSTEMS IAM SOFTWARE AG
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. EXPERIAN INFORMATION SOLUTIONS, INC.
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. HEALTH CATALYST
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. HEALTHVERITY, 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. IMPRIVATA, INC.
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. INTERSYSTEMS 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. LEXISNEXIS RISK SOLUTIONS GROUP.
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. NETOWL
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
1.Acxiom LLC
2.Avatier
3.Beta Systems IAM Software AG
4.Experian Information Solutions, Inc.
5.Health Catalyst
6.HealthVerity, Inc.
7.Imprivata, Inc.
8.InterSystems Corporation,
9.LexisNexis Risk Solutions Group.
10.NetOwl
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