MARKET INTRODUCTION Naveen Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Artificial intelligence in BFSI is assisting the sector in various areas such as customer support, back office, and security and compliance, among others. The demand for artificial intelligence in the BFSI sector is driven by rapidly growing digital data. AI can assist the BFSI sector in drawing meaningful data from the large chunks of data. The increasing popularity of automation is one of the major factors that is driving the growth of artificial intelligence in the BFSI market.
MARKET DYNAMICS
Growing demand for intelligent customer engagement, advancements in technology, and increasing focus towards increasing efficiency and reducing the operational cost are the major factors that have influenced the artificial intelligence in the BFSI market positively. However, the growing privacy concerns and functional errors are the major restraining factors for artificial intelligence in the BFSI market. The growing focus towards knowing consumer preferences and data-driven products is creating opportunities for the companies operating in the market to gain a major customer base.
MARKET SCOPE
The "Global Artificial Intelligence in BFSI Market Analysis to 2031" is a specialized and in-depth study of the artificial intelligence in BFSI industry with a special focus on the global market trend analysis. The report aims to provide an overview of artificial intelligence in BFSI market with detailed market segmentation by component, technology, application and geography. The global artificial intelligence in BFSI market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading artificial intelligence in BFSI market players and offers key trends and opportunities in the artificial intelligence in BFSI market.
MARKET SEGMENTATION
The global artificial intelligence in BFSI market is segmented on the basis of component, technology, and application. Based on component, the market is segmented into solution and service. On the basis of technology the market is segmented as machine learning, natural language processing, computer vision, and others. Based on the application the market is segmented into back office, customer service, financial advisory, risk management, and compliance and security.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global artificial intelligence in BFSI market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The artificial intelligence in BFSI market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting artificial intelligence in BFSI market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the artificial intelligence in BFSI market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global artificial intelligence in BFSI market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The artificial intelligence in BFSI market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting artificial intelligence in BFSI market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the artificial intelligence in BFSI market in these regions.
MARKET PLAYERS
The reports cover key developments in the artificial intelligence in BFSI market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from artificial intelligence in BFSI market are anticipated to lucrative growth opportunities in the future with the rising demand for artificial intelligence in BFSI in the global market. Below mentioned is the list of few companies engaged in the artificial intelligence in BFSI market.
The report also includes the profiles of key artificial intelligence in BFSI companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- AlphaSense Inc.
- Brighterion, Inc.
- Cognizant
- Inbenta Technologies Inc.
- IPsoft Inc.
- Kasisto
- MicroStrategy Incorporated
- Micrtosoft Corporation
- Next IT Corp
- Salesforce.com, Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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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.
TABLE OF CONTENTS
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Artificial Intelligence In BFSI Market - By Component
1.3.2Artificial Intelligence In BFSI Market - By Technology
1.3.3Artificial Intelligence In BFSI Market - By Application
1.3.4Artificial Intelligence In BFSI Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.ARTIFICIAL INTELLIGENCE IN BFSI MARKET L and SCAPE
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.ARTIFICIAL INTELLIGENCE IN BFSI 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.ARTIFICIAL INTELLIGENCE IN BFSI MARKET - GLOBAL MARKET ANALYSIS
6.1.ARTIFICIAL INTELLIGENCE IN BFSI - GLOBAL MARKET OVERVIEW
6.2.ARTIFICIAL INTELLIGENCE IN BFSI - GLOBAL MARKET and FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.ARTIFICIAL INTELLIGENCE IN BFSI MARKET - REVENUE and FORECASTS TO 2028 - COMPONENT
7.1.OVERVIEW
7.2.COMPONENT MARKET FORECASTS and ANALYSIS
7.3.SOLUTIONS
7.3.1.Overview
7.3.2.Solutions Market Forecast and Analysis
7.4.SERVICES
7.4.1.Overview
7.4.2.Services Market Forecast and Analysis
8.ARTIFICIAL INTELLIGENCE IN BFSI MARKET - REVENUE and FORECASTS TO 2028 - TECHNOLOGY
8.1.OVERVIEW
8.2.TECHNOLOGY MARKET FORECASTS and ANALYSIS
8.3.MACHINE LEARNING
8.3.1.Overview
8.3.2.Machine Learning Market Forecast and Analysis
8.4.NATURAL LANGUAGE PROCESSING
8.4.1.Overview
8.4.2.Natural Language Processing Market Forecast and Analysis
8.5.COMPUTER VISION
8.5.1.Overview
8.5.2.Computer Vision Market Forecast and Analysis
8.6.OTHERS
8.6.1.Overview
8.6.2.Others Market Forecast and Analysis
9.ARTIFICIAL INTELLIGENCE IN BFSI MARKET - REVENUE and FORECASTS TO 2028 - APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS and ANALYSIS
9.3.BACK OFFICE
9.3.1.Overview
9.3.2.Back Office Market Forecast and Analysis
9.4.CUSTOMER SERVICE
9.4.1.Overview
9.4.2.Customer Service Market Forecast and Analysis
9.5.FINANCIAL ADVISORY
9.5.1.Overview
9.5.2.Financial Advisory Market Forecast and Analysis
9.6.RISK MANAGEMENT
9.6.1.Overview
9.6.2.Risk Management Market Forecast and Analysis
9.7.COMPLIANCE and SECURITY
9.7.1.Overview
9.7.2.Compliance and Security Market Forecast and Analysis
10.ARTIFICIAL INTELLIGENCE IN BFSI MARKET REVENUE and FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Artificial Intelligence In BFSI Market Overview
10.1.2North America Artificial Intelligence In BFSI Market Forecasts and Analysis
10.1.3North America Artificial Intelligence In BFSI Market Forecasts and Analysis - By Component
10.1.4North America Artificial Intelligence In BFSI Market Forecasts and Analysis - By Technology
10.1.5North America Artificial Intelligence In BFSI Market Forecasts and Analysis - By Application
10.1.6North America Artificial Intelligence In BFSI Market Forecasts and Analysis - By Countries
10.1.6.1United States Artificial Intelligence In BFSI Market
10.1.6.1.1United States Artificial Intelligence In BFSI Market by Component
10.1.6.1.2United States Artificial Intelligence In BFSI Market by Technology
10.1.6.1.3United States Artificial Intelligence In BFSI Market by Application
10.1.6.2Canada Artificial Intelligence In BFSI Market
10.1.6.2.1Canada Artificial Intelligence In BFSI Market by Component
10.1.6.2.2Canada Artificial Intelligence In BFSI Market by Technology
10.1.6.2.3Canada Artificial Intelligence In BFSI Market by Application
10.1.6.3Mexico Artificial Intelligence In BFSI Market
10.1.6.3.1Mexico Artificial Intelligence In BFSI Market by Component
10.1.6.3.2Mexico Artificial Intelligence In BFSI Market by Technology
10.1.6.3.3Mexico Artificial Intelligence In BFSI Market by Application
10.2.EUROPE
10.2.1Europe Artificial Intelligence In BFSI Market Overview
10.2.2Europe Artificial Intelligence In BFSI Market Forecasts and Analysis
10.2.3Europe Artificial Intelligence In BFSI Market Forecasts and Analysis - By Component
10.2.4Europe Artificial Intelligence In BFSI Market Forecasts and Analysis - By Technology
10.2.5Europe Artificial Intelligence In BFSI Market Forecasts and Analysis - By Application
10.2.6Europe Artificial Intelligence In BFSI Market Forecasts and Analysis - By Countries
10.2.6.1Germany Artificial Intelligence In BFSI Market
10.2.6.1.1Germany Artificial Intelligence In BFSI Market by Component
10.2.6.1.2Germany Artificial Intelligence In BFSI Market by Technology
10.2.6.1.3Germany Artificial Intelligence In BFSI Market by Application
10.2.6.2France Artificial Intelligence In BFSI Market
10.2.6.2.1France Artificial Intelligence In BFSI Market by Component
10.2.6.2.2France Artificial Intelligence In BFSI Market by Technology
10.2.6.2.3France Artificial Intelligence In BFSI Market by Application
10.2.6.3Italy Artificial Intelligence In BFSI Market
10.2.6.3.1Italy Artificial Intelligence In BFSI Market by Component
10.2.6.3.2Italy Artificial Intelligence In BFSI Market by Technology
10.2.6.3.3Italy Artificial Intelligence In BFSI Market by Application
10.2.6.4United Kingdom Artificial Intelligence In BFSI Market
10.2.6.4.1United Kingdom Artificial Intelligence In BFSI Market by Component
10.2.6.4.2United Kingdom Artificial Intelligence In BFSI Market by Technology
10.2.6.4.3United Kingdom Artificial Intelligence In BFSI Market by Application
10.2.6.5Russia Artificial Intelligence In BFSI Market
10.2.6.5.1Russia Artificial Intelligence In BFSI Market by Component
10.2.6.5.2Russia Artificial Intelligence In BFSI Market by Technology
10.2.6.5.3Russia Artificial Intelligence In BFSI Market by Application
10.2.6.6Rest of Europe Artificial Intelligence In BFSI Market
10.2.6.6.1Rest of Europe Artificial Intelligence In BFSI Market by Component
10.2.6.6.2Rest of Europe Artificial Intelligence In BFSI Market by Technology
10.2.6.6.3Rest of Europe Artificial Intelligence In BFSI Market by Application
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Artificial Intelligence In BFSI Market Overview
10.3.2Asia-Pacific Artificial Intelligence In BFSI Market Forecasts and Analysis
10.3.3Asia-Pacific Artificial Intelligence In BFSI Market Forecasts and Analysis - By Component
10.3.4Asia-Pacific Artificial Intelligence In BFSI Market Forecasts and Analysis - By Technology
10.3.5Asia-Pacific Artificial Intelligence In BFSI Market Forecasts and Analysis - By Application
10.3.6Asia-Pacific Artificial Intelligence In BFSI Market Forecasts and Analysis - By Countries
10.3.6.1Australia Artificial Intelligence In BFSI Market
10.3.6.1.1Australia Artificial Intelligence In BFSI Market by Component
10.3.6.1.2Australia Artificial Intelligence In BFSI Market by Technology
10.3.6.1.3Australia Artificial Intelligence In BFSI Market by Application
10.3.6.2China Artificial Intelligence In BFSI Market
10.3.6.2.1China Artificial Intelligence In BFSI Market by Component
10.3.6.2.2China Artificial Intelligence In BFSI Market by Technology
10.3.6.2.3China Artificial Intelligence In BFSI Market by Application
10.3.6.3India Artificial Intelligence In BFSI Market
10.3.6.3.1India Artificial Intelligence In BFSI Market by Component
10.3.6.3.2India Artificial Intelligence In BFSI Market by Technology
10.3.6.3.3India Artificial Intelligence In BFSI Market by Application
10.3.6.4Japan Artificial Intelligence In BFSI Market
10.3.6.4.1Japan Artificial Intelligence In BFSI Market by Component
10.3.6.4.2Japan Artificial Intelligence In BFSI Market by Technology
10.3.6.4.3Japan Artificial Intelligence In BFSI Market by Application
10.3.6.5South Korea Artificial Intelligence In BFSI Market
10.3.6.5.1South Korea Artificial Intelligence In BFSI Market by Component
10.3.6.5.2South Korea Artificial Intelligence In BFSI Market by Technology
10.3.6.5.3South Korea Artificial Intelligence In BFSI Market by Application
10.3.6.6Rest of Asia-Pacific Artificial Intelligence In BFSI Market
10.3.6.6.1Rest of Asia-Pacific Artificial Intelligence In BFSI Market by Component
10.3.6.6.2Rest of Asia-Pacific Artificial Intelligence In BFSI Market by Technology
10.3.6.6.3Rest of Asia-Pacific Artificial Intelligence In BFSI Market by Application
10.4.MIDDLE EAST and AFRICA
10.4.1Middle East and Africa Artificial Intelligence In BFSI Market Overview
10.4.2Middle East and Africa Artificial Intelligence In BFSI Market Forecasts and Analysis
10.4.3Middle East and Africa Artificial Intelligence In BFSI Market Forecasts and Analysis - By Component
10.4.4Middle East and Africa Artificial Intelligence In BFSI Market Forecasts and Analysis - By Technology
10.4.5Middle East and Africa Artificial Intelligence In BFSI Market Forecasts and Analysis - By Application
10.4.6Middle East and Africa Artificial Intelligence In BFSI Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Artificial Intelligence In BFSI Market
10.4.6.1.1South Africa Artificial Intelligence In BFSI Market by Component
10.4.6.1.2South Africa Artificial Intelligence In BFSI Market by Technology
10.4.6.1.3South Africa Artificial Intelligence In BFSI Market by Application
10.4.6.2Saudi Arabia Artificial Intelligence In BFSI Market
10.4.6.2.1Saudi Arabia Artificial Intelligence In BFSI Market by Component
10.4.6.2.2Saudi Arabia Artificial Intelligence In BFSI Market by Technology
10.4.6.2.3Saudi Arabia Artificial Intelligence In BFSI Market by Application
10.4.6.3U.A.E Artificial Intelligence In BFSI Market
10.4.6.3.1U.A.E Artificial Intelligence In BFSI Market by Component
10.4.6.3.2U.A.E Artificial Intelligence In BFSI Market by Technology
10.4.6.3.3U.A.E Artificial Intelligence In BFSI Market by Application
10.4.6.4Rest of Middle East and Africa Artificial Intelligence In BFSI Market
10.4.6.4.1Rest of Middle East and Africa Artificial Intelligence In BFSI Market by Component
10.4.6.4.2Rest of Middle East and Africa Artificial Intelligence In BFSI Market by Technology
10.4.6.4.3Rest of Middle East and Africa Artificial Intelligence In BFSI Market by Application
10.5.SOUTH and CENTRAL AMERICA
10.5.1South and Central America Artificial Intelligence In BFSI Market Overview
10.5.2South and Central America Artificial Intelligence In BFSI Market Forecasts and Analysis
10.5.3South and Central America Artificial Intelligence In BFSI Market Forecasts and Analysis - By Component
10.5.4South and Central America Artificial Intelligence In BFSI Market Forecasts and Analysis - By Technology
10.5.5South and Central America Artificial Intelligence In BFSI Market Forecasts and Analysis - By Application
10.5.6South and Central America Artificial Intelligence In BFSI Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Artificial Intelligence In BFSI Market
10.5.6.1.1Brazil Artificial Intelligence In BFSI Market by Component
10.5.6.1.2Brazil Artificial Intelligence In BFSI Market by Technology
10.5.6.1.3Brazil Artificial Intelligence In BFSI Market by Application
10.5.6.2Argentina Artificial Intelligence In BFSI Market
10.5.6.2.1Argentina Artificial Intelligence In BFSI Market by Component
10.5.6.2.2Argentina Artificial Intelligence In BFSI Market by Technology
10.5.6.2.3Argentina Artificial Intelligence In BFSI Market by Application
10.5.6.3Rest of South and Central America Artificial Intelligence In BFSI Market
10.5.6.3.1Rest of South and Central America Artificial Intelligence In BFSI Market by Component
10.5.6.3.2Rest of South and Central America Artificial Intelligence In BFSI Market by Technology
10.5.6.3.3Rest of South and Central America Artificial Intelligence In BFSI Market by Application
11.INDUSTRY L and SCAPE
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.ARTIFICIAL INTELLIGENCE IN BFSI MARKET, KEY COMPANY PROFILES
12.1.ALPHASENSE 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.BRIGHTERION, INC.
12.2.1.Key Facts
12.2.2.Business Description
12.2.3.Products and Services
12.2.4.Financial Overview
12.2.5.SWOT Analysis
12.2.6.Key Developments
12.3.COGNIZANT
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.INBENTA TECHNOLOGIES INC.
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.IPSOFT INC.
12.5.1.Key Facts
12.5.2.Business Description
12.5.3.Products and Services
12.5.4.Financial Overview
12.5.5.SWOT Analysis
12.5.6.Key Developments
12.6.KASISTO
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.MICROSTRATEGY INCORPORATED
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.MICRTOSOFT CORPORATION
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.NEXT IT CORP
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.SALESFORCE.COM, 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
The List of Companies
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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