Workforce Analytics Market Share and Growth (2021-2031)
The Workforce Analytics Market is expected to register a CAGR of 15.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The workforce analytics market report assesses market trends, technologies, and market forces in the current scenario. It encompasses drivers, product type segmentation, and rising demand across geographies. This report includes companies, strategies, market share, and competition of key market players. -Forecasts through 2031 and developments in the area, as well as their implications on productivity and customer satisfaction.
Purpose of the ReportThe report Workforce Analytics 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.
Workforce Analytics Market Segmentation
Type- Services
- Solutions
- Cloud Based
- On-Premises
- IT and Telecom
- Retail
- Manufacturing
- Healthcare and Research
- BFSI
- Education
- Media and Entertainment
- Travel and Hospitality
Strategic Insights
Workforce Analytics Market Growth Drivers- The demand to make decisions through data: The increased dependence of companies on data and analytics-based decision-making processes to boost workforce management, productivity, and employee satisfaction is strengthened with demand for work force analytics solutions.
- Focus on Employee Retention and Engagement: In order to provide a solution to employee turnover, which has become a major concern recently, the organizations are using workforce analytics for measuring what drives employees to be satisfied and stay.
- Technological developments in HR Tech: Advancements in AI, ML, and cloud-based platforms have only been changing workforce analytics solutions for the better, providing more of them and also making them very effective.
- Integration with HR systems: Integration with large HR management systems covering payroll, recruitment, and performance management tools gives a more holistic views of the organization.
- Predictive analytics for talent management: Companies are leveraging predictive analytics to forecast hiring needs, and employee turnover, and identify high performers, ultimately improving strategic workforce planning.
- Focus on Diversity and Inclusion: Workforce analytics has been deployed in tracking metrics towards diversity and inclusion, in making sure that organizations create an affirmative work environment.
- Adoption in SMEs: Adoption of workforce analytics is not restricted to big companies and, hence, adoption in SMEs represents a huge market opportunity.
- Live analytics: The facility of providing live workforce analytics helps the companies make quicker, more informed decisions and opens up new opportunity areas for the vendors.
- Growth in Emerging Markets: Most organizations in developing regions such as Asia-Pacific and Latin America opt to optimize their human resources, hence much growth potential lies in these regions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Workforce Analytics 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 Workforce Analytics 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
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The market is expected to register a CAGR of 15.2% during 2023–2031.
Some of the drivers of the influence on workforce analytics market include data-driven decision-making, focus on employee engagement, and advanced use of HR technology.
Some of the trends anticipated in the market include integration with HR systems, predictive analytics for talent management, and tracking of diversity and inclusion metrics.
The key market players for Workforce Analytics are Aquire Inc, Genpact Ltd, Kronos Inc, Oracle Corporation, PeopleStreme Pty Ltd, SAP SuccessFactors, Tableau Software Inc, Towers Watson and Co, Visier Inc,
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 Workforce Analytics Market - By Type
1.3.2 Workforce Analytics Market - By Deployment Type
1.3.3 Workforce Analytics Market - By Industry Vertical
1.3.4 Workforce Analytics Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. WORKFORCE ANALYTICS 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. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. WORKFORCE ANALYTICS 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. WORKFORCE ANALYTICS MARKET - GLOBAL MARKET ANALYSIS
6.1. WORKFORCE ANALYTICS - GLOBAL MARKET OVERVIEW
6.2. WORKFORCE ANALYTICS - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. WORKFORCE ANALYTICS MARKET - REVENUE AND FORECASTS TO 2027 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SERVICES
7.3.1. Overview
7.3.2. Services Market Forecast and Analysis
7.4. SOLUTIONS
7.4.1. Overview
7.4.2. Solutions Market Forecast and Analysis
8. WORKFORCE ANALYTICS MARKET - REVENUE AND FORECASTS TO 2027 - DEPLOYMENT TYPE
8.1. OVERVIEW
8.2. DEPLOYMENT TYPE MARKET FORECASTS AND ANALYSIS
8.3. CLOUD BASED
8.3.1. Overview
8.3.2. Cloud Based Market Forecast and Analysis
8.4. ON-PREMISES
8.4.1. Overview
8.4.2. On-Premises Market Forecast and Analysis
9. WORKFORCE ANALYTICS MARKET - REVENUE AND FORECASTS TO 2027 - INDUSTRY VERTICAL
9.1. OVERVIEW
9.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
9.3. IT AND TELECOM
9.3.1. Overview
9.3.2. IT and Telecom Market Forecast and Analysis
9.4. RETAIL
9.4.1. Overview
9.4.2. Retail Market Forecast and Analysis
9.5. MANUFACTURING
9.5.1. Overview
9.5.2. Manufacturing Market Forecast and Analysis
9.6. HEALTHCARE AND RESEARCH
9.6.1. Overview
9.6.2. Healthcare and Research Market Forecast and Analysis
9.7. BFSI
9.7.1. Overview
9.7.2. BFSI Market Forecast and Analysis
9.8. EDUCATION
9.8.1. Overview
9.8.2. Education Market Forecast and Analysis
9.9. MEDIA AND ENTERTAINMENT
9.9.1. Overview
9.9.2. Media and Entertainment Market Forecast and Analysis
9.10. TRAVEL AND HOSPITALITY
9.10.1. Overview
9.10.2. Travel and Hospitality Market Forecast and Analysis
10. WORKFORCE ANALYTICS MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Workforce Analytics Market Overview
10.1.2 North America Workforce Analytics Market Forecasts and Analysis
10.1.3 North America Workforce Analytics Market Forecasts and Analysis - By Type
10.1.4 North America Workforce Analytics Market Forecasts and Analysis - By Deployment Type
10.1.5 North America Workforce Analytics Market Forecasts and Analysis - By Industry Vertical
10.1.6 North America Workforce Analytics Market Forecasts and Analysis - By Countries
10.1.6.1 United States Workforce Analytics Market
10.1.6.1.1 United States Workforce Analytics Market by Type
10.1.6.1.2 United States Workforce Analytics Market by Deployment Type
10.1.6.1.3 United States Workforce Analytics Market by Industry Vertical
10.1.6.2 Canada Workforce Analytics Market
10.1.6.2.1 Canada Workforce Analytics Market by Type
10.1.6.2.2 Canada Workforce Analytics Market by Deployment Type
10.1.6.2.3 Canada Workforce Analytics Market by Industry Vertical
10.1.6.3 Mexico Workforce Analytics Market
10.1.6.3.1 Mexico Workforce Analytics Market by Type
10.1.6.3.2 Mexico Workforce Analytics Market by Deployment Type
10.1.6.3.3 Mexico Workforce Analytics Market by Industry Vertical
10.2. EUROPE
10.2.1 Europe Workforce Analytics Market Overview
10.2.2 Europe Workforce Analytics Market Forecasts and Analysis
10.2.3 Europe Workforce Analytics Market Forecasts and Analysis - By Type
10.2.4 Europe Workforce Analytics Market Forecasts and Analysis - By Deployment Type
10.2.5 Europe Workforce Analytics Market Forecasts and Analysis - By Industry Vertical
10.2.6 Europe Workforce Analytics Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Workforce Analytics Market
10.2.6.1.1 Germany Workforce Analytics Market by Type
10.2.6.1.2 Germany Workforce Analytics Market by Deployment Type
10.2.6.1.3 Germany Workforce Analytics Market by Industry Vertical
10.2.6.2 France Workforce Analytics Market
10.2.6.2.1 France Workforce Analytics Market by Type
10.2.6.2.2 France Workforce Analytics Market by Deployment Type
10.2.6.2.3 France Workforce Analytics Market by Industry Vertical
10.2.6.3 Italy Workforce Analytics Market
10.2.6.3.1 Italy Workforce Analytics Market by Type
10.2.6.3.2 Italy Workforce Analytics Market by Deployment Type
10.2.6.3.3 Italy Workforce Analytics Market by Industry Vertical
10.2.6.4 United Kingdom Workforce Analytics Market
10.2.6.4.1 United Kingdom Workforce Analytics Market by Type
10.2.6.4.2 United Kingdom Workforce Analytics Market by Deployment Type
10.2.6.4.3 United Kingdom Workforce Analytics Market by Industry Vertical
10.2.6.5 Russia Workforce Analytics Market
10.2.6.5.1 Russia Workforce Analytics Market by Type
10.2.6.5.2 Russia Workforce Analytics Market by Deployment Type
10.2.6.5.3 Russia Workforce Analytics Market by Industry Vertical
10.2.6.6 Rest of Europe Workforce Analytics Market
10.2.6.6.1 Rest of Europe Workforce Analytics Market by Type
10.2.6.6.2 Rest of Europe Workforce Analytics Market by Deployment Type
10.2.6.6.3 Rest of Europe Workforce Analytics Market by Industry Vertical
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Workforce Analytics Market Overview
10.3.2 Asia-Pacific Workforce Analytics Market Forecasts and Analysis
10.3.3 Asia-Pacific Workforce Analytics Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Workforce Analytics Market Forecasts and Analysis - By Deployment Type
10.3.5 Asia-Pacific Workforce Analytics Market Forecasts and Analysis - By Industry Vertical
10.3.6 Asia-Pacific Workforce Analytics Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Workforce Analytics Market
10.3.6.1.1 Australia Workforce Analytics Market by Type
10.3.6.1.2 Australia Workforce Analytics Market by Deployment Type
10.3.6.1.3 Australia Workforce Analytics Market by Industry Vertical
10.3.6.2 China Workforce Analytics Market
10.3.6.2.1 China Workforce Analytics Market by Type
10.3.6.2.2 China Workforce Analytics Market by Deployment Type
10.3.6.2.3 China Workforce Analytics Market by Industry Vertical
10.3.6.3 India Workforce Analytics Market
10.3.6.3.1 India Workforce Analytics Market by Type
10.3.6.3.2 India Workforce Analytics Market by Deployment Type
10.3.6.3.3 India Workforce Analytics Market by Industry Vertical
10.3.6.4 Japan Workforce Analytics Market
10.3.6.4.1 Japan Workforce Analytics Market by Type
10.3.6.4.2 Japan Workforce Analytics Market by Deployment Type
10.3.6.4.3 Japan Workforce Analytics Market by Industry Vertical
10.3.6.5 South Korea Workforce Analytics Market
10.3.6.5.1 South Korea Workforce Analytics Market by Type
10.3.6.5.2 South Korea Workforce Analytics Market by Deployment Type
10.3.6.5.3 South Korea Workforce Analytics Market by Industry Vertical
10.3.6.6 Rest of Asia-Pacific Workforce Analytics Market
10.3.6.6.1 Rest of Asia-Pacific Workforce Analytics Market by Type
10.3.6.6.2 Rest of Asia-Pacific Workforce Analytics Market by Deployment Type
10.3.6.6.3 Rest of Asia-Pacific Workforce Analytics Market by Industry Vertical
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Workforce Analytics Market Overview
10.4.2 Middle East and Africa Workforce Analytics Market Forecasts and Analysis
10.4.3 Middle East and Africa Workforce Analytics Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Workforce Analytics Market Forecasts and Analysis - By Deployment Type
10.4.5 Middle East and Africa Workforce Analytics Market Forecasts and Analysis - By Industry Vertical
10.4.6 Middle East and Africa Workforce Analytics Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Workforce Analytics Market
10.4.6.1.1 South Africa Workforce Analytics Market by Type
10.4.6.1.2 South Africa Workforce Analytics Market by Deployment Type
10.4.6.1.3 South Africa Workforce Analytics Market by Industry Vertical
10.4.6.2 Saudi Arabia Workforce Analytics Market
10.4.6.2.1 Saudi Arabia Workforce Analytics Market by Type
10.4.6.2.2 Saudi Arabia Workforce Analytics Market by Deployment Type
10.4.6.2.3 Saudi Arabia Workforce Analytics Market by Industry Vertical
10.4.6.3 U.A.E Workforce Analytics Market
10.4.6.3.1 U.A.E Workforce Analytics Market by Type
10.4.6.3.2 U.A.E Workforce Analytics Market by Deployment Type
10.4.6.3.3 U.A.E Workforce Analytics Market by Industry Vertical
10.4.6.4 Rest of Middle East and Africa Workforce Analytics Market
10.4.6.4.1 Rest of Middle East and Africa Workforce Analytics Market by Type
10.4.6.4.2 Rest of Middle East and Africa Workforce Analytics Market by Deployment Type
10.4.6.4.3 Rest of Middle East and Africa Workforce Analytics Market by Industry Vertical
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Workforce Analytics Market Overview
10.5.2 South and Central America Workforce Analytics Market Forecasts and Analysis
10.5.3 South and Central America Workforce Analytics Market Forecasts and Analysis - By Type
10.5.4 South and Central America Workforce Analytics Market Forecasts and Analysis - By Deployment Type
10.5.5 South and Central America Workforce Analytics Market Forecasts and Analysis - By Industry Vertical
10.5.6 South and Central America Workforce Analytics Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Workforce Analytics Market
10.5.6.1.1 Brazil Workforce Analytics Market by Type
10.5.6.1.2 Brazil Workforce Analytics Market by Deployment Type
10.5.6.1.3 Brazil Workforce Analytics Market by Industry Vertical
10.5.6.2 Argentina Workforce Analytics Market
10.5.6.2.1 Argentina Workforce Analytics Market by Type
10.5.6.2.2 Argentina Workforce Analytics Market by Deployment Type
10.5.6.2.3 Argentina Workforce Analytics Market by Industry Vertical
10.5.6.3 Rest of South and Central America Workforce Analytics Market
10.5.6.3.1 Rest of South and Central America Workforce Analytics Market by Type
10.5.6.3.2 Rest of South and Central America Workforce Analytics Market by Deployment Type
10.5.6.3.3 Rest of South and Central America Workforce Analytics Market by Industry Vertical
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. WORKFORCE ANALYTICS MARKET, KEY COMPANY PROFILES
12.1. AQUIRE, INC
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. GENPACT LTD.
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. KRONOS, INC.
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. ORACLE CORPORATION
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. PEOPLESTREME PTY. LTD.
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. SAP SUCCESSFACTORS
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. TABLEAU SOFTWARE, INC.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. TOWERS WATSON AND CO.
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. VISIER, INC.
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. WORKDAY, INC.
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Aquire, Inc
2. Genpact Ltd.
3. Kronos, Inc.
4. Oracle Corporation
5. PeopleStreme Pty. Ltd.
6. SAP SuccessFactors
7. Tableau Software, Inc.
8. Towers Watson and Co.
9. Visier, Inc.
10. Workday, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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