The cloud enterprise application software market is expected to register a CAGR of 15.2% during 2023–2031. Shift toward Software-as-a-Service (SaaS) models and microservices and containerization are likely to remain key trends in the market.
Cloud Enterprise Application Software Market Analysis
- This category encompasses enterprise applications that are delivered over the web and made accessible from any browser. These are business-oriented applications used by large organizations to help them run more effectively and are typically hosted by a third-party vendor rather than being stored and managed by the company itself.
- Cloud enterprise application software is rapidly being adopted. Some large companies are replacing their on-premise solutions with cloud-based solutions since they are becoming more flexible, economical and easily upgradeable.
- Some of the domains where cloud applications and shared computing are being widely used are the finance domain, healthcare industry, manufacturing industry etc. However, behind all the advantages, there is a specific concern regarding data security and industry compliance.
Cloud Enterprise Application Software Market Overview
- Companies include SAP, Oracle, Salesforce, Microsoft and others. The market is divided between application types (defined as ERP, CRM, SCM, etc) and across industry verticals.
- AI, IoT and analytics are influencing product offerings. The amount of small and medium enterprises utilizing cloud solutions is still increasing.
- The COVID-19 pandemic has increased the adoption of cloud computing with an increased necessity to work remotely, resulting in an increase in demand for cloud-based collaboration and productivity software.
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Cloud Enterprise Application Software Market: Strategic Insights
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Cloud Enterprise Application Software Market: Strategic Insights
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Cloud Enterprise Application Software Market Drivers and Opportunities
Need for Scalable and Flexible IT Solutions to Favor the Market
- Scalable cloud-based solutions, meanwhile, eradicate the need for heavy hardware-related and infrastructure-related investments upfront because you will only be billed for what you use.
- Firms with fast-growing IT needs can scale up quickly, sidestepping the delays associated with fixing infrastructure on an own-account basis.
- A business with seasonal or cyclical demand (think retail) can scale up its IT resources closer to those times when they are really needed.
- Scalable cloud platforms enable faster deployment of new features and technologies, supporting continuous innovation.
- Flexible cloud-based solutions provide secure access to functions from anywhere.
Integration of Advanced Technologies (IoT, Blockchain)
- This process – integrating core technologies such as IoT and blockchain into the cloud enterprise application software – brings unprecedented growth opportunities, enabling the secure, real-time flow of data and actions without friction.
- A host of IoT devices continuously collect vast amounts of data. Employing blockchain technology, this data is securely collected and stored in the cloud.
- In Oracle Cloud, advanced analytics (including AI and machine learning) process and analyze the data for actionable insights. These insights can be automatically executed through smart contracts or real-time action by an IoT device – creating the desired closed loop.
- This integrated approach enables existing products to be continuously enhanced with new, cutting-edge capabilities, spurs new market segments, identifies and addresses emerging business needs for security and transparency, enables new business models, and attracts a new breed of forward-thinking customers.
- As a result, by enhancing its cloud enterprise applications with these new technologies, enterprises can enjoy greater operational efficiency, better informed, faster decisions, and improved business outcomes across several industry verticals.
Cloud Enterprise Application Software Market Report Segmentation Analysis
Key segments that contributed to the derivation of the cloud enterprise application software market analysis are solution and end user.
- Based on solution, the cloud enterprise application software market is divided into enterprise resource planning (ERP), supply chain management (SCM), customer relationship management (CRM), business intelligence (BI), web conferencing, business process management (BPM), content management system (CMS), enterprise asset management (EAM), and others.
- Based on the end user, the cloud enterprise application software market is divided into BFSI, healthcare, retail and ecommerce, government, oil and gas, manufacturing, and others.
Cloud Enterprise Application Software Market Share Analysis by Geography
- Cloud Enterprise Application Software 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 Enterprise Application Software 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 Enterprise Application Software market in these regions.
Cloud Enterprise Application Software Market Report Scope
Cloud Enterprise Application Software Market News and Recent Developments
The cloud enterprise application software 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 enterprise application software market are listed below:
- Oracle today announced that NVIDIA AI Enterprise on Oracle Cloud Infrastructure Supercluster is now available in the Oracle U.S. Government Cloud region to help address sovereign AI. Building on the expansion of their partnership, Oracle and NVIDIA are helping U.S. government customers train and deploy AI solutions with access to Oracle Cloud Infrastructure’s 100+ services, including its generative AI services running on high-performance accelerators, including NVIDIA H100 and NVIDIA A100 Tensor Core GPUs, as well as ultra-low-latency networking, and secure storage. (Source: Oracle, Press Release, April 2024)
Cloud Enterprise Application Software Market Report Coverage and Deliverables
The “Cloud Enterprise Application Software Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Cloud enterprise application software market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Cloud enterprise application software market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Cloud enterprise application software 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 for the cloud enterprise application software 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 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.
The leading players operating in the cloud enterprise application software market are Accruent, LLC, Broadcom Corporation, Epicor Software Corporation, Hewlett Packard Enterprise Company, IBM Corporation, Infor, Microsoft Corporation, Oracle Corporation, and Salesforce.com, Inc.
Shift toward Software-as-a-Service (SaaS) models and microservices and containerization are likely to remain key trends in the market.
The global Cloud Enterprise Application Software market is expected to grow at a CAGR of 15.2% during the forecast period 2023 - 2031.
The need for scalability and flexibility and digital transformation initiatives are expected to drive the cloud enterprise application software market.
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 Enterprise Application Software Market - By Solution
1.3.2 Cloud Enterprise Application Software Market - By End-user
1.3.3 Cloud Enterprise Application Software Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CLOUD ENTERPRISE APPLICATION SOFTWARE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. CLOUD ENTERPRISE APPLICATION SOFTWARE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. CLOUD ENTERPRISE APPLICATION SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1. CLOUD ENTERPRISE APPLICATION SOFTWARE - GLOBAL MARKET OVERVIEW
6.2. CLOUD ENTERPRISE APPLICATION SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CLOUD ENTERPRISE APPLICATION SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - SOLUTION
7.1. OVERVIEW
7.2. SOLUTION MARKET FORECASTS AND ANALYSIS
7.3. ENTERPRISE RESOURCE PLANNING (ERP)
7.3.1. Overview
7.3.2. Enterprise Resource Planning (ERP) Market Forecast and Analysis
7.4. SUPPLY CHAIN MANAGEMENT (SCM)
7.4.1. Overview
7.4.2. Supply Chain Management (SCM) Market Forecast and Analysis
7.5. CUSTOMER RELATIONSHIP MANAGEMENT (CRM)
7.5.1. Overview
7.5.2. Customer Relationship Management (CRM) Market Forecast and Analysis
7.6. BUSINESS INTELLIGENCE (BI)
7.6.1. Overview
7.6.2. Business Intelligence (BI) Market Forecast and Analysis
7.7. WEB CONFERENCING
7.7.1. Overview
7.7.2. Web Conferencing Market Forecast and Analysis
7.8. BUSINESS PROCESS MANAGEMENT (BPM)
7.8.1. Overview
7.8.2. Business Process Management (BPM) Market Forecast and Analysis
7.9. CONTENT MANAGEMENT SYSTEM (CMS)
7.9.1. Overview
7.9.2. Content Management System (CMS) Market Forecast and Analysis
7.10. ENTERPRISE ASSET MANAGEMENT (EAM)
7.10.1. Overview
7.10.2. Enterprise Asset Management (EAM) Market Forecast and Analysis
7.11. OTHERS
7.11.1. Overview
7.11.2. Others Market Forecast and Analysis
8. CLOUD ENTERPRISE APPLICATION SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. BFSI
8.3.1. Overview
8.3.2. BFSI Market Forecast and Analysis
8.4. HEALTHCARE
8.4.1. Overview
8.4.2. Healthcare Market Forecast and Analysis
8.5. RETAIL AND ECOMMERCE
8.5.1. Overview
8.5.2. Retail and Ecommerce Market Forecast and Analysis
8.6. GOVERNMENT
8.6.1. Overview
8.6.2. Government Market Forecast and Analysis
8.7. OIL AND GAS
8.7.1. Overview
8.7.2. Oil and Gas Market Forecast and Analysis
8.8. MANUFACTURING
8.8.1. Overview
8.8.2. Manufacturing Market Forecast and Analysis
8.9. OTHERS
8.9.1. Overview
8.9.2. Others Market Forecast and Analysis
9. CLOUD ENTERPRISE APPLICATION SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Cloud Enterprise Application Software Market Overview
9.1.2 North America Cloud Enterprise Application Software Market Forecasts and Analysis
9.1.3 North America Cloud Enterprise Application Software Market Forecasts and Analysis - By Solution
9.1.4 North America Cloud Enterprise Application Software Market Forecasts and Analysis - By End-user
9.1.5 North America Cloud Enterprise Application Software Market Forecasts and Analysis - By Countries
9.1.5.1 United States Cloud Enterprise Application Software Market
9.1.5.1.1 United States Cloud Enterprise Application Software Market by Solution
9.1.5.1.2 United States Cloud Enterprise Application Software Market by End-user
9.1.5.2 Canada Cloud Enterprise Application Software Market
9.1.5.2.1 Canada Cloud Enterprise Application Software Market by Solution
9.1.5.2.2 Canada Cloud Enterprise Application Software Market by End-user
9.1.5.3 Mexico Cloud Enterprise Application Software Market
9.1.5.3.1 Mexico Cloud Enterprise Application Software Market by Solution
9.1.5.3.2 Mexico Cloud Enterprise Application Software Market by End-user
9.2. EUROPE
9.2.1 Europe Cloud Enterprise Application Software Market Overview
9.2.2 Europe Cloud Enterprise Application Software Market Forecasts and Analysis
9.2.3 Europe Cloud Enterprise Application Software Market Forecasts and Analysis - By Solution
9.2.4 Europe Cloud Enterprise Application Software Market Forecasts and Analysis - By End-user
9.2.5 Europe Cloud Enterprise Application Software Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Cloud Enterprise Application Software Market
9.2.5.1.1 Germany Cloud Enterprise Application Software Market by Solution
9.2.5.1.2 Germany Cloud Enterprise Application Software Market by End-user
9.2.5.2 France Cloud Enterprise Application Software Market
9.2.5.2.1 France Cloud Enterprise Application Software Market by Solution
9.2.5.2.2 France Cloud Enterprise Application Software Market by End-user
9.2.5.3 Italy Cloud Enterprise Application Software Market
9.2.5.3.1 Italy Cloud Enterprise Application Software Market by Solution
9.2.5.3.2 Italy Cloud Enterprise Application Software Market by End-user
9.2.5.4 United Kingdom Cloud Enterprise Application Software Market
9.2.5.4.1 United Kingdom Cloud Enterprise Application Software Market by Solution
9.2.5.4.2 United Kingdom Cloud Enterprise Application Software Market by End-user
9.2.5.5 Russia Cloud Enterprise Application Software Market
9.2.5.5.1 Russia Cloud Enterprise Application Software Market by Solution
9.2.5.5.2 Russia Cloud Enterprise Application Software Market by End-user
9.2.5.6 Rest of Europe Cloud Enterprise Application Software Market
9.2.5.6.1 Rest of Europe Cloud Enterprise Application Software Market by Solution
9.2.5.6.2 Rest of Europe Cloud Enterprise Application Software Market by End-user
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Cloud Enterprise Application Software Market Overview
9.3.2 Asia-Pacific Cloud Enterprise Application Software Market Forecasts and Analysis
9.3.3 Asia-Pacific Cloud Enterprise Application Software Market Forecasts and Analysis - By Solution
9.3.4 Asia-Pacific Cloud Enterprise Application Software Market Forecasts and Analysis - By End-user
9.3.5 Asia-Pacific Cloud Enterprise Application Software Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Cloud Enterprise Application Software Market
9.3.5.1.1 Australia Cloud Enterprise Application Software Market by Solution
9.3.5.1.2 Australia Cloud Enterprise Application Software Market by End-user
9.3.5.2 China Cloud Enterprise Application Software Market
9.3.5.2.1 China Cloud Enterprise Application Software Market by Solution
9.3.5.2.2 China Cloud Enterprise Application Software Market by End-user
9.3.5.3 India Cloud Enterprise Application Software Market
9.3.5.3.1 India Cloud Enterprise Application Software Market by Solution
9.3.5.3.2 India Cloud Enterprise Application Software Market by End-user
9.3.5.4 Japan Cloud Enterprise Application Software Market
9.3.5.4.1 Japan Cloud Enterprise Application Software Market by Solution
9.3.5.4.2 Japan Cloud Enterprise Application Software Market by End-user
9.3.5.5 South Korea Cloud Enterprise Application Software Market
9.3.5.5.1 South Korea Cloud Enterprise Application Software Market by Solution
9.3.5.5.2 South Korea Cloud Enterprise Application Software Market by End-user
9.3.5.6 Rest of Asia-Pacific Cloud Enterprise Application Software Market
9.3.5.6.1 Rest of Asia-Pacific Cloud Enterprise Application Software Market by Solution
9.3.5.6.2 Rest of Asia-Pacific Cloud Enterprise Application Software Market by End-user
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Cloud Enterprise Application Software Market Overview
9.4.2 Middle East and Africa Cloud Enterprise Application Software Market Forecasts and Analysis
9.4.3 Middle East and Africa Cloud Enterprise Application Software Market Forecasts and Analysis - By Solution
9.4.4 Middle East and Africa Cloud Enterprise Application Software Market Forecasts and Analysis - By End-user
9.4.5 Middle East and Africa Cloud Enterprise Application Software Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Cloud Enterprise Application Software Market
9.4.5.1.1 South Africa Cloud Enterprise Application Software Market by Solution
9.4.5.1.2 South Africa Cloud Enterprise Application Software Market by End-user
9.4.5.2 Saudi Arabia Cloud Enterprise Application Software Market
9.4.5.2.1 Saudi Arabia Cloud Enterprise Application Software Market by Solution
9.4.5.2.2 Saudi Arabia Cloud Enterprise Application Software Market by End-user
9.4.5.3 U.A.E Cloud Enterprise Application Software Market
9.4.5.3.1 U.A.E Cloud Enterprise Application Software Market by Solution
9.4.5.3.2 U.A.E Cloud Enterprise Application Software Market by End-user
9.4.5.4 Rest of Middle East and Africa Cloud Enterprise Application Software Market
9.4.5.4.1 Rest of Middle East and Africa Cloud Enterprise Application Software Market by Solution
9.4.5.4.2 Rest of Middle East and Africa Cloud Enterprise Application Software Market by End-user
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Cloud Enterprise Application Software Market Overview
9.5.2 South and Central America Cloud Enterprise Application Software Market Forecasts and Analysis
9.5.3 South and Central America Cloud Enterprise Application Software Market Forecasts and Analysis - By Solution
9.5.4 South and Central America Cloud Enterprise Application Software Market Forecasts and Analysis - By End-user
9.5.5 South and Central America Cloud Enterprise Application Software Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Cloud Enterprise Application Software Market
9.5.5.1.1 Brazil Cloud Enterprise Application Software Market by Solution
9.5.5.1.2 Brazil Cloud Enterprise Application Software Market by End-user
9.5.5.2 Argentina Cloud Enterprise Application Software Market
9.5.5.2.1 Argentina Cloud Enterprise Application Software Market by Solution
9.5.5.2.2 Argentina Cloud Enterprise Application Software Market by End-user
9.5.5.3 Rest of South and Central America Cloud Enterprise Application Software Market
9.5.5.3.1 Rest of South and Central America Cloud Enterprise Application Software Market by Solution
9.5.5.3.2 Rest of South and Central America Cloud Enterprise Application Software Market by End-user
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. CLOUD ENTERPRISE APPLICATION SOFTWARE MARKET, KEY COMPANY PROFILES
11.1. ACCRUENT, LLC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BROADCOM CORPORATION
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. EPICOR SOFTWARE CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. HEWLETT PACKARD ENTERPRISE COMPANY
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. IBM CORPORATION
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. INFOR
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. MICROSOFT CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ORACLE CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SALESFORCE.COM, INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SAP SE
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Accruent, LLC
2. Broadcom Corporation
3. Epicor Software Corporation
4. Hewlett Packard Enterprise Company
5. IBM Corporation
6. Infor
7. Microsoft Corporation
8. Oracle Corporation
9. Salesforce.com, Inc.
10. SAP SE
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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