The cloud applications market is expected to register a CAGR of 16.3% during 2023–2031. Interoperability and portability and Generative AI and cloud investment are likely to remain key trends in the market.
Cloud Applications Market Analysis
- Cloud applications have gained wide adoption in different industries and even organizations. Almost 90% of businesses across the world have adopted cloud computing and are using cloud applications for their business operations.
- Right from small to large-scale enterprises, cloud application adoption has become very common. Organizations are feeling the pulse for cloud applications, as they are scalable, cost-effective, flexible, and collaborative.
- Cloud applications have, thus, become a part of modern business strategy that enables organizations to shave off extra procedures, improve productivity, and maintain competitiveness within the modern digital environment.
Cloud Applications Market Overview
- The cloud application market is growing with huge potential and presents a promising market overview. Cloud applications have quick response times to business needs. In this way, an enterprise can rapidly update, test, and deploy applications in an on-demand manner to realize better time-to-market and enhanced agility.
- At the same time, it creates growth opportunities for the cloud applications market through high-growth segments of the cloud computing market, such as SaaS and hybrid cloud. These segments attract businesses of all sizes and innovate in application development, testing, and deployment.
- Increased dependence on cloud infrastructure and rising demand for cloud-native platforms also fuel growth in the cloud applications market. All in all, the outlook for the cloud applications market remains upbeat, especially about requirements that enhance customer experience, reduce costs, and experience flexibility and scalability inherent in the technology.
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Cloud Applications Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Cloud Applications Market: Strategic Insights
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Cloud Applications Market Drivers and Opportunities
Growing Focus on Delivering Enhanced Customer Experience to Favor the Market
- The growing focus on delivering enhanced customer experience fuels the growth of the cloud applications market, underlining the fact that meeting customer demands and enhancing customer satisfaction and loyalty are important.
- When businesses focus more on customer experience, they realize the critical role of cloud applications in achieving the same. Cloud applications can make business entities more responsive to customer needs and more attuned to individual needs, building closer relationships with customers.
- Business enterprises are now using technology to deliver better business relationships aligned with the Cloud in unlocking new ways of delivering effort-free, personalized, and omnichannel experiences that meet the expectations of modern customers. Delivering better customer experience, therefore, has been a prime force behind the accelerated growth and adoption of cloud applications in the market.
High-Growth Segments Within the Cloud Computing Market
- It is projected that the growth of the cloud computing market will be fuelled by the high-growth segments of the industry. These are software as a service, application development and testing, hybrid cloud, and others. These are registering at very fast rates and will combine to fuel the growth of the cloud computing market.
- The reason why business organizations are lapping up SaaS applications in large numbers is that they have easy usage and deployment capabilities. In this regard, the workload in application development and testing surges forward, especially on account of the following: cloud on-demand resources, scaling, and collaboration tools.
- Moreover, significant growth opportunities exist in the adoption of hybrid cloud solutions and sector-wise transition to cloud deployment. It is in these high-growth segments in the cloud computing market that avenues are created for the growth and adoption of cloud applications, thereby helping businesses take advantage of cloud technology in driving innovation in their respective operations.
Cloud Applications Market Report Segmentation Analysis
Key segments that contributed to the derivation of the cloud applications market analysis are applications, organization size, and industry.
- Based on applications, the cloud applications market is divided into ERP, CRM, HCM, SCM, content management, BI and analytics, and others.
- Based on the organization size, the cloud applications market is divided into SMEs and large enterprises.
- Based on the industry, the cloud applications market is divided into BFSI, retail and e-commerce, healthcare, it and telecom, oil and gas, government, and others.
Cloud Applications Market Share Analysis by Geography
- Cloud Applications Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Cloud Applications market dynamics, such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the Cloud Applications market in these regions.
Cloud Applications Market Report Scope
Cloud Applications Market News and Recent Developments
The cloud applications market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the cloud applications market are listed below:
- IBM announced that it has signed a definitive agreement to acquire application modernization capabilities from Advanced, bringing a combination of talent, tools, and knowledge to enhance IBM Consulting’s mainframe application and data modernization services. The planned acquisition will further enable us to support clients’ mainframe application modernization journeys, marking another important step forward in IBM’s hybrid cloud and AI strategy. (Source: IBM, Press Release, January 2024)
Cloud Applications Market Report Coverage and Deliverables
The “Cloud Applications Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Cloud applications market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Cloud applications market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Cloud applications market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the cloud applications market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global cloud applications market is expected to grow at a CAGR of 16.3% during the forecast period 2023 - 2031.
Growing focus on delivering enhanced customer experience and business expansions by large vendors across different geographies are expected to drive the cloud applications market.
Interoperability and portability and Generative AI and cloud investment are likely to remain key trends in the market.
The leading players operating in the cloud applications market are Adobe Systems, Inc., Google, IBM Corporation, Infor, Microsoft Corporation, Oracle Corporation, Sage Group plc, Salesforce.com, Inc., and SAP SE.
The report can be delivered in PDF/PPT format; we can also share an 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.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Cloud Applications Market - By Application
1.3.2 Cloud Applications Market - By Organization Size
1.3.3 Cloud Applications Market - By Industry
1.3.4 Cloud Applications Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CLOUD APPLICATIONS 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. CLOUD APPLICATIONS 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. CLOUD APPLICATIONS MARKET - GLOBAL MARKET ANALYSIS
6.1. CLOUD APPLICATIONS - GLOBAL MARKET OVERVIEW
6.2. CLOUD APPLICATIONS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CLOUD APPLICATIONS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. ERP
7.3.1. Overview
7.3.2. ERP Market Forecast and Analysis
7.4. CRM
7.4.1. Overview
7.4.2. CRM Market Forecast and Analysis
7.5. HCM
7.5.1. Overview
7.5.2. HCM Market Forecast and Analysis
7.6. SCM
7.6.1. Overview
7.6.2. SCM Market Forecast and Analysis
7.7. CONTENT MANAGEMENT
7.7.1. Overview
7.7.2. Content Management Market Forecast and Analysis
7.8. BI AND ANALYTICS
7.8.1. Overview
7.8.2. BI and Analytics Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. CLOUD APPLICATIONS MARKET - REVENUE AND FORECASTS TO 2028 - ORGANIZATION SIZE
8.1. OVERVIEW
8.2. ORGANIZATION SIZE MARKET FORECASTS AND ANALYSIS
8.3. SMES
8.3.1. Overview
8.3.2. SMEs Market Forecast and Analysis
8.4. LARGE ENTERPRISES
8.4.1. Overview
8.4.2. Large Enterprises Market Forecast and Analysis
9. CLOUD APPLICATIONS MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY
9.1. OVERVIEW
9.2. INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. BFSI
9.3.1. Overview
9.3.2. BFSI Market Forecast and Analysis
9.4. RETAIL AND E-COMMERCE
9.4.1. Overview
9.4.2. Retail and E-commerce Market Forecast and Analysis
9.5. HEALTHCARE
9.5.1. Overview
9.5.2. Healthcare Market Forecast and Analysis
9.6. IT AND TELECOM
9.6.1. Overview
9.6.2. IT and Telecom Market Forecast and Analysis
9.7. OIL AND GAS
9.7.1. Overview
9.7.2. Oil and Gas Market Forecast and Analysis
9.8. GOVERNMENT
9.8.1. Overview
9.8.2. Government Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis
10. CLOUD APPLICATIONS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Cloud Applications Market Overview
10.1.2 North America Cloud Applications Market Forecasts and Analysis
10.1.3 North America Cloud Applications Market Forecasts and Analysis - By Application
10.1.4 North America Cloud Applications Market Forecasts and Analysis - By Organization Size
10.1.5 North America Cloud Applications Market Forecasts and Analysis - By Industry
10.1.6 North America Cloud Applications Market Forecasts and Analysis - By Countries
10.1.6.1 United States Cloud Applications Market
10.1.6.1.1 United States Cloud Applications Market by Application
10.1.6.1.2 United States Cloud Applications Market by Organization Size
10.1.6.1.3 United States Cloud Applications Market by Industry
10.1.6.2 Canada Cloud Applications Market
10.1.6.2.1 Canada Cloud Applications Market by Application
10.1.6.2.2 Canada Cloud Applications Market by Organization Size
10.1.6.2.3 Canada Cloud Applications Market by Industry
10.1.6.3 Mexico Cloud Applications Market
10.1.6.3.1 Mexico Cloud Applications Market by Application
10.1.6.3.2 Mexico Cloud Applications Market by Organization Size
10.1.6.3.3 Mexico Cloud Applications Market by Industry
10.2. EUROPE
10.2.1 Europe Cloud Applications Market Overview
10.2.2 Europe Cloud Applications Market Forecasts and Analysis
10.2.3 Europe Cloud Applications Market Forecasts and Analysis - By Application
10.2.4 Europe Cloud Applications Market Forecasts and Analysis - By Organization Size
10.2.5 Europe Cloud Applications Market Forecasts and Analysis - By Industry
10.2.6 Europe Cloud Applications Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Cloud Applications Market
10.2.6.1.1 Germany Cloud Applications Market by Application
10.2.6.1.2 Germany Cloud Applications Market by Organization Size
10.2.6.1.3 Germany Cloud Applications Market by Industry
10.2.6.2 France Cloud Applications Market
10.2.6.2.1 France Cloud Applications Market by Application
10.2.6.2.2 France Cloud Applications Market by Organization Size
10.2.6.2.3 France Cloud Applications Market by Industry
10.2.6.3 Italy Cloud Applications Market
10.2.6.3.1 Italy Cloud Applications Market by Application
10.2.6.3.2 Italy Cloud Applications Market by Organization Size
10.2.6.3.3 Italy Cloud Applications Market by Industry
10.2.6.4 United Kingdom Cloud Applications Market
10.2.6.4.1 United Kingdom Cloud Applications Market by Application
10.2.6.4.2 United Kingdom Cloud Applications Market by Organization Size
10.2.6.4.3 United Kingdom Cloud Applications Market by Industry
10.2.6.5 Russia Cloud Applications Market
10.2.6.5.1 Russia Cloud Applications Market by Application
10.2.6.5.2 Russia Cloud Applications Market by Organization Size
10.2.6.5.3 Russia Cloud Applications Market by Industry
10.2.6.6 Rest of Europe Cloud Applications Market
10.2.6.6.1 Rest of Europe Cloud Applications Market by Application
10.2.6.6.2 Rest of Europe Cloud Applications Market by Organization Size
10.2.6.6.3 Rest of Europe Cloud Applications Market by Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Cloud Applications Market Overview
10.3.2 Asia-Pacific Cloud Applications Market Forecasts and Analysis
10.3.3 Asia-Pacific Cloud Applications Market Forecasts and Analysis - By Application
10.3.4 Asia-Pacific Cloud Applications Market Forecasts and Analysis - By Organization Size
10.3.5 Asia-Pacific Cloud Applications Market Forecasts and Analysis - By Industry
10.3.6 Asia-Pacific Cloud Applications Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Cloud Applications Market
10.3.6.1.1 Australia Cloud Applications Market by Application
10.3.6.1.2 Australia Cloud Applications Market by Organization Size
10.3.6.1.3 Australia Cloud Applications Market by Industry
10.3.6.2 China Cloud Applications Market
10.3.6.2.1 China Cloud Applications Market by Application
10.3.6.2.2 China Cloud Applications Market by Organization Size
10.3.6.2.3 China Cloud Applications Market by Industry
10.3.6.3 India Cloud Applications Market
10.3.6.3.1 India Cloud Applications Market by Application
10.3.6.3.2 India Cloud Applications Market by Organization Size
10.3.6.3.3 India Cloud Applications Market by Industry
10.3.6.4 Japan Cloud Applications Market
10.3.6.4.1 Japan Cloud Applications Market by Application
10.3.6.4.2 Japan Cloud Applications Market by Organization Size
10.3.6.4.3 Japan Cloud Applications Market by Industry
10.3.6.5 South Korea Cloud Applications Market
10.3.6.5.1 South Korea Cloud Applications Market by Application
10.3.6.5.2 South Korea Cloud Applications Market by Organization Size
10.3.6.5.3 South Korea Cloud Applications Market by Industry
10.3.6.6 Rest of Asia-Pacific Cloud Applications Market
10.3.6.6.1 Rest of Asia-Pacific Cloud Applications Market by Application
10.3.6.6.2 Rest of Asia-Pacific Cloud Applications Market by Organization Size
10.3.6.6.3 Rest of Asia-Pacific Cloud Applications Market by Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Cloud Applications Market Overview
10.4.2 Middle East and Africa Cloud Applications Market Forecasts and Analysis
10.4.3 Middle East and Africa Cloud Applications Market Forecasts and Analysis - By Application
10.4.4 Middle East and Africa Cloud Applications Market Forecasts and Analysis - By Organization Size
10.4.5 Middle East and Africa Cloud Applications Market Forecasts and Analysis - By Industry
10.4.6 Middle East and Africa Cloud Applications Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Cloud Applications Market
10.4.6.1.1 South Africa Cloud Applications Market by Application
10.4.6.1.2 South Africa Cloud Applications Market by Organization Size
10.4.6.1.3 South Africa Cloud Applications Market by Industry
10.4.6.2 Saudi Arabia Cloud Applications Market
10.4.6.2.1 Saudi Arabia Cloud Applications Market by Application
10.4.6.2.2 Saudi Arabia Cloud Applications Market by Organization Size
10.4.6.2.3 Saudi Arabia Cloud Applications Market by Industry
10.4.6.3 U.A.E Cloud Applications Market
10.4.6.3.1 U.A.E Cloud Applications Market by Application
10.4.6.3.2 U.A.E Cloud Applications Market by Organization Size
10.4.6.3.3 U.A.E Cloud Applications Market by Industry
10.4.6.4 Rest of Middle East and Africa Cloud Applications Market
10.4.6.4.1 Rest of Middle East and Africa Cloud Applications Market by Application
10.4.6.4.2 Rest of Middle East and Africa Cloud Applications Market by Organization Size
10.4.6.4.3 Rest of Middle East and Africa Cloud Applications Market by Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Cloud Applications Market Overview
10.5.2 South and Central America Cloud Applications Market Forecasts and Analysis
10.5.3 South and Central America Cloud Applications Market Forecasts and Analysis - By Application
10.5.4 South and Central America Cloud Applications Market Forecasts and Analysis - By Organization Size
10.5.5 South and Central America Cloud Applications Market Forecasts and Analysis - By Industry
10.5.6 South and Central America Cloud Applications Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Cloud Applications Market
10.5.6.1.1 Brazil Cloud Applications Market by Application
10.5.6.1.2 Brazil Cloud Applications Market by Organization Size
10.5.6.1.3 Brazil Cloud Applications Market by Industry
10.5.6.2 Argentina Cloud Applications Market
10.5.6.2.1 Argentina Cloud Applications Market by Application
10.5.6.2.2 Argentina Cloud Applications Market by Organization Size
10.5.6.2.3 Argentina Cloud Applications Market by Industry
10.5.6.3 Rest of South and Central America Cloud Applications Market
10.5.6.3.1 Rest of South and Central America Cloud Applications Market by Application
10.5.6.3.2 Rest of South and Central America Cloud Applications Market by Organization Size
10.5.6.3.3 Rest of South and Central America Cloud Applications Market by Industry
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. CLOUD APPLICATIONS MARKET, KEY COMPANY PROFILES
12.1. ADOBE SYSTEMS, 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. GOOGLE
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. IBM CORPORATION
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. INFOR
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. MICROSOFT CORPORATION
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. ORACLE CORPORATION
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. SAGE GROUP PLC
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. SALESFORCE.COM, INC
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. SAP SE
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
The List of Companies
1. Adobe Systems, Inc.
2. Google
3. IBM Corporation
4. Infor
5. Microsoft Corporation
6. Oracle Corporation
7. Sage Group plc
8. Salesforce.com, inc
9. SAP SE
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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