Veterinary Software Market Strategies and Share 2031
The Veterinary Software Market is expected to register a CAGR of 6.2% 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 based on Product (Veterinary Imaging Software, Veterinary Practice Management Software, and Other Software), Type (Integrated Software and Standalone Software), Delivery Model (On-Premise Model and Web-Based/Cloud-Based Model), and End User (Clinics and Ambulatory Practices, Specialty & Emergency Hospitals and Veterinary Hospitals & Referral Practices). The global analysis is further broken down at the regional level and major countries. 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 Veterinary 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.
Veterinary Software Market Segmentation
Product- Veterinary Imaging Software
- Veterinary Practice Management Software and Other Software
- Integrated Software and Standalone Software
- On-Premise Model and Web-Based/Cloud-Based Model
- Clinics and Ambulatory Practices
- Specialty & Emergency Hospitals and Veterinary Hospitals & Referral Practices
- Clinics and Ambulatory Practices
- Specialty & Emergency Hospitals and Veterinary Hospitals & Referral Practices
Strategic Insights
Veterinary Software Market Growth Drivers- Increasing Veterinary Clinic Operations: The growing number of veterinary clinics and hospitals is driving the demand for efficient software solutions.
- Rising Pet Ownership: The increasing pet ownership rates globally are leading to greater demand for veterinary services and software.
- Advancement in Technology: The advancements in technology, such as cloud computing and AI, are enabling the development of sophisticated veterinary software solutions.
- Integration of AI and Machine Learning: AI-powered software can improve diagnostic accuracy, treatment planning, and patient record management.
- Increased Adoption of Cloud-Based Solutions: Cloud-based veterinary software offers flexibility, scalability, and remote access.
- Focus on Data Security and Privacy: Robust data security measures will be essential to protect sensitive patient information.
- Development of Specialized Veterinary Software: Creating software solutions for specific veterinary niches, such as equine or exotic animal medicine, can open new markets.
- Strategic Partnerships with Veterinary Supply Companies: Collaborating with veterinary supply companies can help expand market reach and distribution channels.
- International Expansion: Expanding into emerging markets with growing veterinary industries can drive significant growth.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Veterinary 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 Veterinary 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
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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
Veterinary Software Market is expected to grow at a CAGR of 6.2% between 2023-2031
The driving factors impacting the Veterinary Software Market are: Increasing Veterinary Clinic Operations, Rising Pet Ownership and Advancement in Technology
The future trends of the Veterinary Software Market are: Integration of AI and Machine Learning, Increased Adoption of Cloud-Based Solutions and Focus on Data Security and Privacy
The leading players of the market are: Animal Intelligence Software, ClienTrax, Covetrus, Inc., ezyVet, Finnish Net Solutions, Hippo Manager Software, IDEXX Laboratories, Inc., Timeless Veterinary Systems, Vetter Software, Inc., VIA Information Systems
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 Veterinary Software Market - By Product
1.3.2 Veterinary Software Market - By Type
1.3.3 Veterinary Software Market - By Delivery Model
1.3.4 Veterinary Software Market - By End User
1.3.5 Veterinary Software Market - By Region
1.3.5.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. VETERINARY SOFTWARE 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. VETERINARY 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. VETERINARY SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1. VETERINARY SOFTWARE - GLOBAL MARKET OVERVIEW
6.2. VETERINARY SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. VETERINARY SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. VETERINARY IMAGING SOFTWARE
7.3.1. Overview
7.3.2. Veterinary Imaging Software Market Forecast and Analysis
7.4. VETERINARY PRACTICE MANAGEMENT SOFTWARE
7.4.1. Overview
7.4.2. Veterinary Practice Management Software Market Forecast and Analysis
7.5. OTHER SOFTWARE
7.5.1. Overview
7.5.2. Other Software Market Forecast and Analysis
8. VETERINARY SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. INTEGRATED SOFTWARE
8.3.1. Overview
8.3.2. Integrated Software Market Forecast and Analysis
8.4. STANDALONE SOFTWARE
8.4.1. Overview
8.4.2. Standalone Software Market Forecast and Analysis
9. VETERINARY SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - DELIVERY MODEL
9.1. OVERVIEW
9.2. DELIVERY MODEL MARKET FORECASTS AND ANALYSIS
9.3. ON-PREMISE MODEL
9.3.1. Overview
9.3.2. On-Premise Model Market Forecast and Analysis
9.4. WEB-BASED/CLOUD-BASED MODEL
9.4.1. Overview
9.4.2. Web-Based/Cloud-Based Model Market Forecast and Analysis
10. VETERINARY SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. CLINICS AND AMBULATORY PRACTICES
10.3.1. Overview
10.3.2. Clinics and Ambulatory Practices Market Forecast and Analysis
10.4. SPECIALTY & EMERGENCY HOSPITALS
10.4.1. Overview
10.4.2. Specialty & Emergency Hospitals Market Forecast and Analysis
10.5. VETERINARY HOSPITALS & REFERRAL PRACTICES
10.5.1. Overview
10.5.2. Veterinary Hospitals & Referral Practices Market Forecast and Analysis
11. VETERINARY SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Veterinary Software Market Overview
11.1.2 North America Veterinary Software Market Forecasts and Analysis
11.1.3 North America Veterinary Software Market Forecasts and Analysis - By Product
11.1.4 North America Veterinary Software Market Forecasts and Analysis - By Type
11.1.5 North America Veterinary Software Market Forecasts and Analysis - By Delivery Model
11.1.6 North America Veterinary Software Market Forecasts and Analysis - By End User
11.1.7 North America Veterinary Software Market Forecasts and Analysis - By Countries
11.1.7.1 United States Veterinary Software Market
11.1.7.1.1 United States Veterinary Software Market by Product
11.1.7.1.2 United States Veterinary Software Market by Type
11.1.7.1.3 United States Veterinary Software Market by Delivery Model
11.1.7.1.4 United States Veterinary Software Market by End User
11.1.7.2 Canada Veterinary Software Market
11.1.7.2.1 Canada Veterinary Software Market by Product
11.1.7.2.2 Canada Veterinary Software Market by Type
11.1.7.2.3 Canada Veterinary Software Market by Delivery Model
11.1.7.2.4 Canada Veterinary Software Market by End User
11.1.7.3 Mexico Veterinary Software Market
11.1.7.3.1 Mexico Veterinary Software Market by Product
11.1.7.3.2 Mexico Veterinary Software Market by Type
11.1.7.3.3 Mexico Veterinary Software Market by Delivery Model
11.1.7.3.4 Mexico Veterinary Software Market by End User
11.2. EUROPE
11.2.1 Europe Veterinary Software Market Overview
11.2.2 Europe Veterinary Software Market Forecasts and Analysis
11.2.3 Europe Veterinary Software Market Forecasts and Analysis - By Product
11.2.4 Europe Veterinary Software Market Forecasts and Analysis - By Type
11.2.5 Europe Veterinary Software Market Forecasts and Analysis - By Delivery Model
11.2.6 Europe Veterinary Software Market Forecasts and Analysis - By End User
11.2.7 Europe Veterinary Software Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Veterinary Software Market
11.2.7.1.1 Germany Veterinary Software Market by Product
11.2.7.1.2 Germany Veterinary Software Market by Type
11.2.7.1.3 Germany Veterinary Software Market by Delivery Model
11.2.7.1.4 Germany Veterinary Software Market by End User
11.2.7.2 France Veterinary Software Market
11.2.7.2.1 France Veterinary Software Market by Product
11.2.7.2.2 France Veterinary Software Market by Type
11.2.7.2.3 France Veterinary Software Market by Delivery Model
11.2.7.2.4 France Veterinary Software Market by End User
11.2.7.3 Italy Veterinary Software Market
11.2.7.3.1 Italy Veterinary Software Market by Product
11.2.7.3.2 Italy Veterinary Software Market by Type
11.2.7.3.3 Italy Veterinary Software Market by Delivery Model
11.2.7.3.4 Italy Veterinary Software Market by End User
11.2.7.4 Spain Veterinary Software Market
11.2.7.4.1 Spain Veterinary Software Market by Product
11.2.7.4.2 Spain Veterinary Software Market by Type
11.2.7.4.3 Spain Veterinary Software Market by Delivery Model
11.2.7.4.4 Spain Veterinary Software Market by End User
11.2.7.5 United Kingdom Veterinary Software Market
11.2.7.5.1 United Kingdom Veterinary Software Market by Product
11.2.7.5.2 United Kingdom Veterinary Software Market by Type
11.2.7.5.3 United Kingdom Veterinary Software Market by Delivery Model
11.2.7.5.4 United Kingdom Veterinary Software Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Veterinary Software Market Overview
11.3.2 Asia-Pacific Veterinary Software Market Forecasts and Analysis
11.3.3 Asia-Pacific Veterinary Software Market Forecasts and Analysis - By Product
11.3.4 Asia-Pacific Veterinary Software Market Forecasts and Analysis - By Type
11.3.5 Asia-Pacific Veterinary Software Market Forecasts and Analysis - By Delivery Model
11.3.6 Asia-Pacific Veterinary Software Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Veterinary Software Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Veterinary Software Market
11.3.7.1.1 Australia Veterinary Software Market by Product
11.3.7.1.2 Australia Veterinary Software Market by Type
11.3.7.1.3 Australia Veterinary Software Market by Delivery Model
11.3.7.1.4 Australia Veterinary Software Market by End User
11.3.7.2 China Veterinary Software Market
11.3.7.2.1 China Veterinary Software Market by Product
11.3.7.2.2 China Veterinary Software Market by Type
11.3.7.2.3 China Veterinary Software Market by Delivery Model
11.3.7.2.4 China Veterinary Software Market by End User
11.3.7.3 India Veterinary Software Market
11.3.7.3.1 India Veterinary Software Market by Product
11.3.7.3.2 India Veterinary Software Market by Type
11.3.7.3.3 India Veterinary Software Market by Delivery Model
11.3.7.3.4 India Veterinary Software Market by End User
11.3.7.4 Japan Veterinary Software Market
11.3.7.4.1 Japan Veterinary Software Market by Product
11.3.7.4.2 Japan Veterinary Software Market by Type
11.3.7.4.3 Japan Veterinary Software Market by Delivery Model
11.3.7.4.4 Japan Veterinary Software Market by End User
11.3.7.5 South Korea Veterinary Software Market
11.3.7.5.1 South Korea Veterinary Software Market by Product
11.3.7.5.2 South Korea Veterinary Software Market by Type
11.3.7.5.3 South Korea Veterinary Software Market by Delivery Model
11.3.7.5.4 South Korea Veterinary Software Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Veterinary Software Market Overview
11.4.2 Middle East and Africa Veterinary Software Market Forecasts and Analysis
11.4.3 Middle East and Africa Veterinary Software Market Forecasts and Analysis - By Product
11.4.4 Middle East and Africa Veterinary Software Market Forecasts and Analysis - By Type
11.4.5 Middle East and Africa Veterinary Software Market Forecasts and Analysis - By Delivery Model
11.4.6 Middle East and Africa Veterinary Software Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Veterinary Software Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Veterinary Software Market
11.4.7.1.1 South Africa Veterinary Software Market by Product
11.4.7.1.2 South Africa Veterinary Software Market by Type
11.4.7.1.3 South Africa Veterinary Software Market by Delivery Model
11.4.7.1.4 South Africa Veterinary Software Market by End User
11.4.7.2 Saudi Arabia Veterinary Software Market
11.4.7.2.1 Saudi Arabia Veterinary Software Market by Product
11.4.7.2.2 Saudi Arabia Veterinary Software Market by Type
11.4.7.2.3 Saudi Arabia Veterinary Software Market by Delivery Model
11.4.7.2.4 Saudi Arabia Veterinary Software Market by End User
11.4.7.3 U.A.E Veterinary Software Market
11.4.7.3.1 U.A.E Veterinary Software Market by Product
11.4.7.3.2 U.A.E Veterinary Software Market by Type
11.4.7.3.3 U.A.E Veterinary Software Market by Delivery Model
11.4.7.3.4 U.A.E Veterinary Software Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Veterinary Software Market Overview
11.5.2 South and Central America Veterinary Software Market Forecasts and Analysis
11.5.3 South and Central America Veterinary Software Market Forecasts and Analysis - By Product
11.5.4 South and Central America Veterinary Software Market Forecasts and Analysis - By Type
11.5.5 South and Central America Veterinary Software Market Forecasts and Analysis - By Delivery Model
11.5.6 South and Central America Veterinary Software Market Forecasts and Analysis - By End User
11.5.7 South and Central America Veterinary Software Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Veterinary Software Market
11.5.7.1.1 Brazil Veterinary Software Market by Product
11.5.7.1.2 Brazil Veterinary Software Market by Type
11.5.7.1.3 Brazil Veterinary Software Market by Delivery Model
11.5.7.1.4 Brazil Veterinary Software Market by End User
11.5.7.2 Argentina Veterinary Software Market
11.5.7.2.1 Argentina Veterinary Software Market by Product
11.5.7.2.2 Argentina Veterinary Software Market by Type
11.5.7.2.3 Argentina Veterinary Software Market by Delivery Model
11.5.7.2.4 Argentina Veterinary Software Market by End User
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. VETERINARY SOFTWARE MARKET, KEY COMPANY PROFILES
13.1. ANIMAL INTELLIGENCE SOFTWARE
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. CLIENTRAX
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. COVETRUS, INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. EZYVET
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. FINNISH NET SOLUTIONS
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. HIPPO MANAGER SOFTWARE
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. IDEXX LABORATORIES, INC.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. TIMELESS VETERINARY SYSTEMS
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. VETTER SOFTWARE, INC.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. VIA INFORMATION SYSTEMS
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Animal Intelligence Software
2. ClienTrax
3. Covetrus, Inc.
4. ezyVet
5. Finnish Net Solutions
6. Hippo Manager Software
7. IDEXX Laboratories, Inc.
8. Timeless Veterinary Systems
9. Vetter Software, Inc.
10. VIA Information Systems
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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