The security analytics market in Europe is expected to grow from US$ 3,644.38 million in 2021 to US$ 9,823.07 million by 2028; it is estimated to grow at a CAGR of 15.2% from 2021 to 2028.
The surge in telecomputing has potentially increased the use of vulnerable devices and services, including virtual private networks (VPN), posing a threat to any organization. With the rising use of the Internet, the demand for telecomputing is also increasing in businesses. Furthermore, during the COVID-19 outbreak, businesses have to follow the government norms of remote working. Thus, the number of virtual private networks (VPNs) increased to facilitate data sharing and connecting all devices together. Also, online communication platforms, such as Zoom and Skype, have witnessed a substantial rise across several organizations, making business processes vulnerable against malicious activities and ransomware and phishing attacks, as they are more exposed to open platforms. These situations have led to offering customized and robust analytics-driven security solutions to organizations. For instance, Unify Square, Inc. offers PowerSuite tool that helps manage, amplify, and secure business environment with Zoom analytics solutions. Hence, with the growing adoption of advanced technologies, security analytics systems have also increased, resulting in significant growth in the Europe market.
In 2020, the impact of the COVID-19 outbreak differed from country to country across the European region as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict and longer lockdown periods or social isolation. However, its impact on Western European countries, such as Germany, France, and the UK, was comparatively modest because of their robust healthcare systems. To protect citizens from the virus, the European governments have made tremendous investments in incorporating technologies in healthcare systems to help identify signs of the virus. In 2021, the offices resumed operations after releasing lockdown measures and the ongoing vaccination process.
The COVID-19 pandemic has negatively impacted almost every industry. However, the security industry of information and communications technology was not affected as other industries since businesses allowed their employees to work from home. Due to work-from-home facilities, organizations are realizing the importance of security analytics systems to give businesses the ability to foresee security threats using analytics software. Its value has increased exponentially during the COVID-19 pandemic as threats could destroy the infrastructure of a business and its systems. All these factors are contributing to the positive growth of the security analytics market in the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe security analytics market. The Europe security analytics market is expected to grow at a good CAGR during the forecast period.
Europe Security AnalyticsMarket Revenue and Forecast to 2028 (US$ Million)
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Europe Security Analytics Market Segmentation
Europe Security Analytics Market – By Component
- Solution
- Services
Europe Security Analytics Market – By Deployment
- On-Premise
- Cloud-Based
Europe Security Analytics Market – By Application
- Network Security Analytics
- Endpoint Security Analytics
- Application Security Analytics
- Web Security Analytics
- Others
Europe Security Analytics Market – By Organization Size
- Small and Medium Enterprises
- Large Enterprises
Europe Security Analytics Market, by Country
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
Europe Security Analytics Market - Companies Mentioned
- Broadcom, Inc.
- Cisco Systems, Inc.
- Hewlett Packard Enterprise Development LP (HPE)
- Huntsman Corporation
- IBM Corporation
- McAfee, LLC
- Rapid7
- RSA Security LLC
- SolarWinds Worldwide, LLC
- Splunk, Inc.
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.
Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Security Analytics Market – By Component
1.3.2 Europe Security Analytics Market – By Deployment
1.3.3 Europe Security Analytics Market – By Application
1.3.4 Europe Security Analytics Market – By Organization Size
1.3.5 Europe Security Analytics Market – By Industry
1.3.6 Europe Security Analytics Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Security Analytics Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Security Analytics Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surge in Number of Cyber Threats and Security Breaches
5.1.2 Adoption of Advanced Technologies Getting Popular
5.2 Market Restraints
5.2.1 Limited IT Security Personals and Shortage of Proper Allocation of IT Security Budgets
5.3 Market Opportunities
5.3.1 Big Data and Cloud-Based Infrastructure Getting Popular
5.4 Future Trends
5.4.1 Number of Internet Users on Rise
5.5 Impact Analysis of Drivers and Restraints
6. Security Analytics Market – Europe Analysis
6.1 Europe Security Analytics Market Overview
6.2 Europe Security Analytics Market Forecast and Analysis
7. Europe Security Analytics Market Analysis – By Component
7.1 Overview
7.2 Europe Security Analytics, by Component (2020 and 2028)
7.3 Solution
7.3.1 Overview
7.3.2 Solution: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
8. Europe Security Analytics Market – By Deployment
8.1 Overview
8.2 Europe Security Analytics, by Deployment (2020 and 2028)
8.3 On-Premise
8.3.1 Overview
8.3.2 On-Premise: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Cloud-Based
8.4.1 Overview
8.4.2 Cloud-Based: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
9. Europe Security Analytics Market – By Application
9.1 Overview
9.2 Europe Security Analytics, by Application (2020 and 2028)
9.3 Network Security Analytics
9.3.1 Overview
9.3.2 Network Security Analytics: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Endpoint Security Analytics
9.4.1 Overview
9.4.2 Endpoint Security Analytics: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Application Security Analytics
9.5.1 Overview
9.5.2 Application Security Analytics: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Web Security Analytics
9.6.1 Overview
9.6.2 Web Security Analytics: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
10. Europe Security Analytics Market – By Organization Size
10.1 Overview
10.2 Europe Security Analytics, by organization size (2020 and 2028)
10.3 Small and Medium Enterprises
10.3.1 Overview
10.3.2 Small and Medium Enterprises: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Large Enterprises
10.4.1 Overview
10.4.2 Large Enterprises: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
11. Europe Security Analytics Market – By Industry
11.1 Overview
11.2 Europe Security Analytics, by industry (2020 and 2028)
11.3 Banking, Financial Services and Insurance (BFSI)
11.3.1 Overview
11.3.2 BFSI: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
11.4 Government
11.4.1 Overview
11.4.2 Government: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
11.5 IT and Telecom
11.5.1 Overview
11.5.2 IT and Telecom: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
11.6 Healthcare
11.6.1 Overview
11.6.2 Healthcare: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
11.7 Energy and Utilities
11.7.1 Overview
11.7.2 Energy and Utilities: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
11.8 Consumer Goods and Retail
11.8.1 Overview
11.8.2 Consumer Goods and Retail: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
11.9 Manufacturing
11.9.1 Overview
11.9.2 Manufacturing: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
11.10 Others
11.10.1 Overview
11.10.2 Others: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
12. Europe Security Analytics Market – Country Analysis
12.1 Overview
12.1.1 Europe: Security Analytics Market, by Country
12.1.1.1 Germany: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.1.1 Germany: Security Analytics Market, by Component
12.1.1.1.2 Germany: Security Analytics Market, by Deployment
12.1.1.1.3 Germany: Security Analytics Market, by Application
12.1.1.1.4 Germany: Security Analytics Market, by Organization Size
12.1.1.1.5 Germany: Security Analytics Market, by Industry
12.1.1.2 France: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.2.1 France: Security Analytics Market, by Component
12.1.1.2.2 France: Security Analytics Market, by Deployment
12.1.1.2.3 France: Security Analytics Market, by Application
12.1.1.2.4 France: Security Analytics Market, by Organization Size
12.1.1.2.5 France: Security Analytics Market, by Industry
12.1.1.3 Italy: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.3.1 Italy: Security Analytics Market, by Component
12.1.1.3.2 Italy: Security Analytics Market, by Deployment
12.1.1.3.3 Italy: Security Analytics Market, by Application
12.1.1.3.4 Italy: Security Analytics Market, by Organization Size
12.1.1.3.5 Italy: Security Analytics Market, by Industry
12.1.1.4 UK: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.4.1 UK: Security Analytics Market, by Component
12.1.1.4.2 UK: Security Analytics Market, by Deployment
12.1.1.4.3 UK: Security Analytics Market, by Application
12.1.1.4.4 UK: Security Analytics Market, by Organization Size
12.1.1.4.5 UK: Security Analytics Market, by Industry
12.1.1.5 Russia: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.5.1 Russia: Security Analytics Market, by Component
12.1.1.5.2 Russia: Security Analytics Market, by Deployment
12.1.1.5.3 Russia: Security Analytics Market, by Application
12.1.1.5.4 Russia: Security Analytics Market, by Organization Size
12.1.1.5.5 Russia: Security Analytics Market, by Industry
12.1.1.6 Rest of Europe: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
12.1.1.6.1 Rest of Europe: Security Analytics Market, by Component
12.1.1.6.2 Rest of Europe: Security Analytics Market, by Deployment
12.1.1.6.3 Rest of Europe: Security Analytics Market, by Application
12.1.1.6.4 Rest of Europe: Security Analytics Market, by Organization Size
12.1.1.6.5 Rest of Europe: Security Analytics Market, by Industry
13. Europe Security Analytics Market - COVID-19 Impact Analysis
13.1 Europe
14. Security Analytics Market - Industry Landscape
14.1 Overview
14.2 Market Initiative
14.3 Merger and Acquisition
15. Company Profiles
15.1 IBM Corporation
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
15.2 Hewlett Packard Enterprise Development LP (HPE)
15.2.1 Key Facts
15.2.2 Business Description
15.2.3 Products and Services
15.2.4 Financial Overview
15.2.5 SWOT Analysis
15.2.6 Key Developments
15.3 Cisco Systems, Inc.
15.3.1 Key Facts
15.3.2 Business Description
15.3.3 Products and Services
15.3.4 Financial Overview
15.3.5 SWOT Analysis
15.3.6 Key Developments
15.4 Broadcom, Inc.
15.4.1 1.4.1 Key Facts
15.4.2 Business Description
15.4.3 Products and Services
15.4.4 Financial Overview
15.4.5 SWOT Analysis
15.4.6 Key Developments
15.5 McAfee, LLC
15.5.1 Key Facts
15.5.2 Business Description
15.5.3 Products and Services
15.5.4 Financial Overview
15.5.5 SWOT Analysis
15.5.6 Key Developments
15.6 Splunk, Inc.
15.6.1 Key Facts
15.6.2 Business Description
15.6.3 Products and Services
15.6.4 Financial Overview
15.6.5 SWOT Analysis
15.6.6 Key Developments
15.7 Huntsman Corporation
15.7.1 Key Facts
15.7.2 Business Description
15.7.3 Products and Services
15.7.4 Financial Overview
15.7.5 SWOT Analysis
15.7.6 Key Developments
15.8 SolarWinds Worldwide, LLC
15.8.1 Key Facts
15.8.2 Business Description
15.8.3 Products and Services
15.8.4 Financial Overview
15.8.5 SWOT Analysis
15.8.6 Key Developments
15.9 Rapid7
15.9.1 Key Facts
15.9.2 Business Description
15.9.3 Products and Services
15.9.4 Financial Overview
15.9.5 SWOT Analysis
15.9.6 Key Developments
15.10 RSA Security LLC
15.10.1 Key Facts
15.10.2 Business Description
15.10.3 Products and Services
15.10.4 Financial Overview
15.10.5 SWOT Analysis
15.10.6 Key Developments
16. Appendix
16.1 About The Insight Partners
16.2 Glossary
LIST OF TABLES
Table 1. Europe Security Analytics Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Table 2. Germany: Security Analytics Market, by Component –Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany: Security Analytics Market, by Services –Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Security Analytics Market, by Deployment –Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: Security Analytics Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 6. Germany: Security Analytics Market, by Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 7. Germany: Security Analytics Market, by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 8. France: Security Analytics Market, by Component –Revenue and Forecast to 2028 (US$ Million)
Table 9. France: Security Analytics Market, by Services –Revenue and Forecast to 2028 (US$ Million)
Table 10. France: Security Analytics Market, by Deployment –Revenue and Forecast to 2028 (US$ Million)
Table 11. France: Security Analytics Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 12. France: Security Analytics Market, by Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 13. France: Security Analytics Market, by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 14. Italy: Security Analytics Market, by Component –Revenue and Forecast to 2028 (US$ Million)
Table 15. Italy: Security Analytics Market, by Services –Revenue and Forecast to 2028 (US$ Million)
Table 16. Italy: Security Analytics Market, by Deployment –Revenue and Forecast to 2028 (US$ Million)
Table 17. Italy: Security Analytics Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 18. Italy: Security Analytics Market, by Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 19. Italy: Security Analytics Market, by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 20. UK: Security Analytics Market, by Component –Revenue and Forecast to 2028 (US$ Million)
Table 21. UK: Security Analytics Market, by Services –Revenue and Forecast to 2028 (US$ Million)
Table 22. UK: Security Analytics Market, by Deployment –Revenue and Forecast to 2028 (US$ Million)
Table 23. UK: Security Analytics Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 24. UK: Security Analytics Market, by Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 25. UK: Security Analytics Market, by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 26. Russia: Security Analytics Market, by Component –Revenue and Forecast to 2028 (US$ Million)
Table 27. Russia: Security Analytics Market, by Services –Revenue and Forecast to 2028 (US$ Million)
Table 28. Russia: Security Analytics Market, by Deployment –Revenue and Forecast to 2028 (US$ Million)
Table 29. Russia: Security Analytics Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 30. Russia: Security Analytics Market, by Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 31. Russia: Security Analytics Market, by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 32. Rest of Europe: Security Analytics Market, by Component –Revenue and Forecast to 2028 (US$ Million)
Table 33. Rest of Europe: Security Analytics Market, by Services –Revenue and Forecast to 2028 (US$ Million)
Table 34. Rest of Europe: Security Analytics Market, by Deployment –Revenue and Forecast to 2028 (US$ Million)
Table 35. Rest of Europe: Security Analytics Market, by Application –Revenue and Forecast to 2028 (US$ Million)
Table 36. Rest of Europe: Security Analytics Market, by Organization Size –Revenue and Forecast to 2028 (US$ Million)
Table 37. Rest of Europe: Security Analytics Market, by Industry –Revenue and Forecast to 2028 (US$ Million)
Table 38. Glossary of Terms, Europe Security Analytics Market
LIST OF FIGURES
Figure 1. Europe Security Analytics Market Segmentation
Figure 2. Europe Security Analytics Market Segmentation – By Country
Figure 3. Europe Security Analytics Market Overview
Figure 4. Europe Security Analytics Market, By Component
Figure 5. Europe Security Analytics Market, By Deployment
Figure 6. Europe Security Analytics Market, By Application
Figure 7. Europe Security Analytics Market, By Organization Size
Figure 8. Europe Security Analytics Market, By Industry
Figure 9. Europe Security Analytics Market, By Country
Figure 10. Europe – PEST Analysis
Figure 11. Europe Security Analytics Market Ecosystem Analysis
Figure 12. Expert Opinion
Figure 13. Europe Security Analytics Market Impact Analysis of Drivers and Restraints
Figure 14. Europe Security Analytics Market, Forecast and Analysis (US$ Mn)
Figure 15. Europe Security Analytics Market Revenue Share, by Component Type (2020 and 2028)
Figure 16. Europe Solution: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Europe Services: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe Security Analytics Market Revenue Share, by Deployment (2020 and 2028)
Figure 19. Europe On-Premise: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Europe Cloud-Based: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe Security Analytics Market Revenue Share, by Application (2020 and 2028)
Figure 22. Europe Network Security Analytics: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Europe Endpoint Security Analytics: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Europe Application Security Analytics: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Europe Web Security Analytics: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Europe Others: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Europe Security Analytics Market Revenue Share, by Organization Size (2020 and 2028)
Figure 28. Europe Small and Medium Enterprises: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Europe Large Enterprises: Security Analytics Market– Revenue and Forecast to 2028 (US$ Million)
Figure 30. Europe Security Analytics Market Revenue Share, by Industry (2020 and 2028)
Figure 31. Europe BFSI: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Europe Government: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Europe IT and Telecom: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Europe Healthcare: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Europe Energy and Utilities: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. Europe Consumer goods and retail: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. Europe Manufacturing: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. Europe Others: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 39. Europe: Security Analytics Market, by Key Country– Revenue (2020) (US$ Million)
Figure 40. Europe: Security Analytics Market Revenue Share, by Country (2020 and 2028)
Figure 41. Germany: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. France: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 43. Italy: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 44. UK: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 45. Russia: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 46. Rest of Europe: Security Analytics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 47. Impact of COVID-19 Pandemic in Europe Country Markets
- Broadcom, Inc.
- Cisco Systems, Inc.
- Hewlett Packard Enterprise Development LP (HPE)
- Huntsman Corporation
- IBM Corporation
- McAfee, LLC
- Rapid7
- RSA Security LLC
- SolarWinds Worldwide, LLC
- Splunk, 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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