The APAC anti-money laundering solution market is expected to grow from US$ 376.59 million in 2019 to US$ 1,681.34 million by 2027; it is estimated to grow at a CAGR of 17.9 % from 2020 to 2027.
The Australia, China, India, Japan, and South Korea are major economies in APAC. Mounting focus on limiting risks related to digital payment methods is expected to upsurge the APAC anti-money laundering solution market. Several countries across APAC region are witnessing high growth in digitalization in the banking sector. Government initiatives for digitalization have increased the importance of digital payments among consumers. This factor has resulted in the emergence of several digital payment wallets giving tough competition to the banks. Presently, financial technology enables consumers to make transactions through various platforms, such as laptops and mobile devices. The ability to perform financial transactions on laptops and mobile devices is so unified that consumers take it for granted. With the emergence of digital payments, intermediaries are the link between the bank and the end client, leaving banks vulnerable to customer malfeasance. At present, the regulatory across APAC region focus is centered on limiting money-laundering risks related to digital payment methods, such as e-payments and mobile wallets. Further, the top priority is being given to combat cybercrime and limit potential money-laundering risks. Regulators are focused on financial crime and cybersecurity risks in digital payments. Singapore, for instance, passed legislation, which ranks the intermediaries by risk level and allocates tiered capital needs and AML responsibilities. Thus, the huge focus of financial institutions on limiting the digital payment issues is anticipated to propel the APAC anti-money laundering solution market growth. Further, in case of COVID-19, APAC is highly affected specially the China and India. The governments of APAC countries took all possible steps to reduce the effects of the coronavirus pandemic by announcing lockdown. The temporary shutdown of companies resulted in increased digital channels of communication among the customers and organizations. However, during Q1 and Q2 2020, several companies were temporarily shut, which disrupt the anti-money laundering solution vendors and banks. Thus, the market was slightly impacted. With the release of lockdown, the market again started showing signs of growth. Criminals are taking advantage of the global outbreak to carry out financial fraud, which includes advertising and trafficking in counterfeit products, providing fraudulent investment opportunities. In light of growing threats, businesses in the region are taking necessary steps to identify suspicious behavior, investigating it thoroughly and, where appropriate, reporting it to the relevant authorities. Thus, this surges the demand for an anti-money laundering solution. Since the COVID-19 pandemic outbreak, the banks in the region are now focused on transforming their core operations and are working on AI-based technologies. Further, due to pandemics, the vendors are also focused on offering quality self-service capabilities, which are highly customized as per customer’ requirements.
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 APAC anti-money laundering solution market. The APAC anti-money laundering solution market is expected to grow at a good CAGR during the forecast period.
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APAC Anti-Money Laundering Solution Market Segmentation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
APAC Anti-Money Laundering Solution Market – By Component
- Software
- Services
APAC Anti-Money Laundering Solution Market – By Deployment Type
- On-Premises
- Cloud
APAC Anti-Money Laundering Solution Market – By Product
- Transaction Monitoring
- Compliance management
- Currency transaction reporting
- Customer identity management
APAC Anti-Money Laundering Solution Market – ByIndustry
- Healthcare
- BFSI
- Retail
- IT and Telecom
- Government
- Others
APAC Anti-Money Laundering Solution Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Anti-Money Laundering Solution Market -Companies Mentioned
- Accenture
- ACI WORLDWIDE, INC.
- BAE Systems plc
- EastNets.com
- LexisNexis Risk Solutions Group
- Nasdaq Inc.
- NICE Ltd.
- Open Text Corporation
- Oracle Corporation
- SAS Institute Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Deployment Type, Product, and Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC Anti-Money Laundering Solution Market – By Deployment Type
1.3.2 APAC Anti-Money Laundering Solution Market – By Component
1.3.3 APAC Anti-Money Laundering Solution Market – By Product
1.3.4 APAC Anti-Money Laundering Solution Market – By Industry
1.3.5 APAC Anti-Money Laundering Solution Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Anti-Money Laundering Solution Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Anti-Money Laundering Solution Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surging Focus of FinTech on Implementing Automated Anti-Money Laundering Systems
5.1.2 Escalating Demand for Sophisticated Transaction Monitoring Solutions
5.1.3 Mounting Focus on Limiting Risks Related to Digital Payment Methods
5.2 Market Restraints
5.2.1 Difficulties Related to Structure and Technology of Anti-Money Laundering Solutions
5.3 Market Opportunities
5.3.1 Growing Adoption of Cryptocurrency
5.3.2 Rising Adoption of Advanced Analytics
5.4 Future Trends
5.4.1 Sharing of Reports Among Banks and Other Financial Institutions
5.5 Impact Analysis of Drivers & Restraints
6. Anti-Money Laundering Solution Market – APAC Analysis
6.1 APAC Anti-Money Laundering Solution Market Overview
6.2 APAC Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. APAC Anti-Money Laundering Solution Market Analysis – By Deployment type
7.1 Overview
7.2 APAC Anti-Money Laundering Solution Market, by Deployment Type, (2019 and 2027)
7.3 On-Premise
7.3.1 Overview
7.3.2 On-Premise Market Revenue and Forecast to 2027 (US$ Million)
7.4 Cloud
7.4.1 Overview
7.4.2 Cloud Market Revenue and Forecast to 2027 (US$ Million)
8. APAC Anti-Money Laundering Solution Market Analysis –By Component
8.1 Overview
8.2 APAC Anti-Money Laundering Solution Market Breakdown, by Component, (2019 and 2027)
8.3 Software
8.3.1 Overview
8.3.2 Software Market Revenue and Forecast to 2027 (US$ Million)
8.4 Services
8.4.1 Overview
8.4.2 Services Market Revenue and Forecast to 2027 (US$ Million)
9. APAC Anti-Money Laundering Solution Market Analysis –By Product
9.1 Overview
9.2 APAC Anti-Money Laundering Solution Market Breakdown, by Product, (2019 and 2027)
9.3 Transaction Monitoring
9.3.1 Overview
9.3.2 Transaction Monitoring Market Revenue and Forecast to 2027 (US$ Million)
9.4 Compliance Management
9.4.1 Overview
9.4.2 Compliance Management Market Revenue and Forecast to 2027 (US$ Million)
9.5 Currency Transaction Reporting
9.5.1 Overview
9.5.2 Currency Transaction Reporting Market Revenue and Forecast to 2027 (US$ Million)
9.6 Customer Identity Management
9.6.1 Overview
9.6.2 Customer Identity Management Market Revenue and Forecast to 2027 (US$ Million)
10. APAC Anti-Money Laundering Solution Market Analysis –By Industry
10.1 Overview
10.2 APAC Anti-Money Laundering Solution Market Breakdown, by Industry Vertical, (2019 and 2027)
10.3 Healthcare
10.3.1 Overview
10.3.2 Healthcare Market Revenue and Forecast to 2027 (US$ Million)
10.4 BFSI
10.4.1 Overview
10.4.2 BFSI Market Revenue and Forecast to 2027 (US$ Million)
10.5 Retail
10.5.1 Overview
10.5.2 Retail Market Revenue and Forecast to 2027 (US$ Million)
10.6 IT and Telecom
10.6.1 Overview
10.6.2 IT and Telecom Market Revenue and Forecast to 2027 (US$ Million)
10.7 Government
10.7.1 Overview
10.7.2 Government Market Revenue and Forecast to 2027 (US$ Million)
10.8 Others
10.8.1 Overview
10.8.2 Others Revenue and Forecast to 2027 (US$ Million)
11. APAC Anti-Money Laundering Solution Market –Country Analysis
11.1 Overview
11.1.1 APAC: Anti-Money Laundering Solution Market, By Country
11.1.1.1 China: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.1.1 China: Anti-Money Laundering Solution Market, By Deployment Type
11.1.1.1.2 China: Anti-Money Laundering Solution Market, By Component
11.1.1.1.3 China: Anti-Money Laundering Solution Market, By Product
11.1.1.1.4 China: Anti-Money Laundering Solution Market, By Industry
11.1.1.2 India: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.2.1 India: Anti-Money Laundering Solution Market, By Deployment Type
11.1.1.2.2 India: Anti-Money Laundering Solution Market, By Component
11.1.1.2.3 India: Anti-Money Laundering Solution Market, By Product
11.1.1.2.4 India: Anti-Money Laundering Solution Market, By Industry
11.1.1.3 Japan: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.3.1 Japan: Anti-Money Laundering Solution Market, By Deployment Type
11.1.1.3.2 Japan: Anti-Money Laundering Solution Market, By Component
11.1.1.3.3 Japan: Anti-Money Laundering Solution Market, By Product
11.1.1.3.4 Japan: Anti-Money Laundering Solution Market, By Industry
11.1.1.4 South Korea: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.4.1 South Korea: Anti-Money Laundering Solution Market, By Deployment Type
11.1.1.4.2 South Korea: Anti-Money Laundering Solution Market, By Component
11.1.1.4.3 South Korea: Anti-Money Laundering Solution Market, By Product
11.1.1.4.4 South Korea: Anti-Money Laundering Solution Market, By Industry
11.1.1.5 Australia: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.5.1 Australia: Anti-Money Laundering Solution Market, By Deployment Type
11.1.1.5.2 Australia: Anti-Money Laundering Solution Market, By Component
11.1.1.5.3 Australia: Anti-Money Laundering Solution Market, By Product
11.1.1.5.4 Australia: Anti-Money Laundering Solution Market, By Industry
11.1.1.6 Rest of APAC: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.6.1 Rest of APAC: Anti-Money Laundering Solution Market, By Deployment Type
11.1.1.6.2 Rest of APAC: Anti-Money Laundering Solution Market, By Component
11.1.1.6.3 Rest of APAC: Anti-Money Laundering Solution Market, By Product
11.1.1.6.4 Rest of APAC: Anti-Money Laundering Solution Market, By Industry
12. Impact of COVID-19 Pandemic on APAC Anti-Money Laundering Solution Market
12.1 APAC
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition
13.4 New Development
14. COMPANY PROFILES
14.1 Accenture
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 ACI WORLDWIDE, INC
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 BAE Systems plc
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 EastNets.com
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Open Text Corporation
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Oracle Corporation
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 LexisNexis Risk Solutions Group
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Nasdaq Inc.
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 SAS Institute Inc.
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 NICE Ltd.
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. APAC Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. China Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. China Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 4. China Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027 (US$ Million)
Table 5. China Anti-Money Laundering Solution Market, By Industry – Revenue and Forecast to 2027 (US$ Million)
Table 6. India Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. India Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 8. India Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027 (US$ Million)
Table 9. India Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 10. Japan Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 11. Japan Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 12. Japan Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027 (US$ Million)
Table 13. Japan Anti-Money Laundering Solution Market, By Industry – Revenue and Forecast to 2027 (US$ Million)
Table 14. South Korea Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 15. South Korea Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 16. South Korea Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027 (US$ Million)
Table 17. South Korea Anti-Money Laundering Solution Market, By Industry – Revenue and Forecast to 2027 (US$ Million)
Table 18. Australia Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 19. Australia Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 20. Australia Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027 (US$ Million)
Table 21. Australia Anti-Money Laundering Solution Market, By Industry – Revenue and Forecast to 2027 (US$ Million)
Table 22. Rest of APAC Anti-Money Laundering Solution Market, By Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 23. Rest of APAC Anti-Money Laundering Solution Market, By Component – Revenue and Forecast to 2027 (US$ Million)
Table 24. Rest of APAC Anti-Money Laundering Solution Market, By Product – Revenue and Forecast to 2027 (US$ Million)
Table 25. Rest of APAC Anti-Money Laundering Solution Market, By Industry – Revenue and Forecast to 2027 (US$ Million)
Table 26. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Anti-Money Laundering Solution Market Segmentation
Figure 2. APAC Anti-Money Laundering Solution Market Segmentation – By Country
Figure 3. APAC Anti-Money Laundering Solution Market Overview
Figure 4. On-Premise Segment Held the Largest Market Share
Figure 5. Software Segment Held the Largest Market Share
Figure 6. Transaction Monitoring Segment Held the Largest Market Share
Figure 7. BFSI Segment Held the Largest Market Share
Figure 8. China Held the Largest Market Share
Figure 9. APAC – PEST Analysis
Figure 10. APAC Anti-Money Laundering Solution Market Ecosystem Analysis
Figure 11. APAC Anti-Money Laundering Solution Market Expert Opinion
Figure 12. Impact Analysis of Drivers and Restraints
Figure 13. APAC Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. APAC Anti-Money Laundering Solution Market Breakdown, by Deployment Type (2019 and 2027)
Figure 15. APAC On-Premise Market Revenue and Forecast to 2027(US$ Million)
Figure 16. APAC Cloud Market Revenue and Forecast to 2027(US$ Million)
Figure 17. APAC Anti-Money Laundering Solution Market, by Component (2019 and 2027)
Figure 18. APAC Software Market Revenue and Forecast to 2027(US$ Million)
Figure 19. APAC Services Market Revenue and Forecast to 2027(US$ Million)
Figure 20. APAC Anti-Money Laundering Solution Market Breakdown, by Product (2019 and 2027)
Figure 21. APAC Transaction Market Revenue and Forecast to 2027(US$ Million)
Figure 22. APAC Compliance Management Market Revenue and Forecast to 2027(US$ Million)
Figure 23. APAC Currency Transaction Reporting Market Revenue and Forecast to 2027(US$ Million)
Figure 24. APAC Customer Identity Management Market Revenue and Forecast to 2027(US$ Million)
Figure 25. APAC Anti-Money Laundering Solution Market Breakdown, by Industry Vertical (2019 and 2027)
Figure 26. APAC Healthcare Market Revenue and Forecast to 2027(US$ Million)
Figure 27. APAC BFSI Market Revenue and Forecast to 2027(US$ Million)
Figure 28. APAC Retail Market Revenue and Forecast to 2027(US$ Million)
Figure 29. APAC IT and Telecom Market Revenue and Forecast to 2027(US$ Million)
Figure 30. APAC Government Market Revenue and Forecast to 2027(US$ Million)
Figure 31. APAC Others Market Revenue and Forecast to 2027(US$ Million)
Figure 32. APAC Anti-Money Laundering Solution Market Revenue Share, By Country (2019 and 2027)
Figure 33. China: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. India: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
Figure 35. Japan: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
Figure 36. South Korea: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. Australia: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
Figure 38. Rest of APAC: Anti-Money Laundering Solution Market – Revenue and Forecast to 2027 (US$ Million)
Figure 39. Impact of COVID-19 Pandemic in APAC Country Markets
Some of the leading companies are:
- Accenture
- ACI WORLDWIDE, INC.
- BAE Systems plc
- EastNets.com
- LexisNexis Risk Solutions Group
- Nasdaq Inc.
- NICE Ltd.
- Open Text Corporation
- Oracle Corporation
- SAS Institute 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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