The digital education market was valued at US$ 11.62 billion in 2021 and it is expected to grow at a CAGR of 26.1% between 2022 and 2028.
The digital education, also known as Technology Enhanced Learning (TEL) or e-Learning, is the innovative usage of technologies and digital tools during teaching and learning. By using digital technologies, educators can design engaging learning sessions in the courses they teach, and these can take the form of fully online or blended courses and programmers.
MARKET DYNAMICS
The increasing internet penetration across the world, reducing infrastructure cost, rising scalability using online learning, and surging demand for microlearning drive the growth of the digital education market. Rising internet penetration is fuelled by decreasing internet subscription cost and lowering smartphone prices. It has allowed common people to easily access the internet, allowing the market to grow. The COVID-19 pandemic fuelled the requirement for online classes, which further bolstered the market growth. The introduction of virtual classrooms and the integration of augmented reality (AR) and virtual reality (VR) are anticipated to boost the growth of the digital education market in the coming years.
MARKET SCOPE
The "Global Digital Education Market Analysis to 2028" is a specialized and in-depth study of the market with a special focus on the global market trend analysis. The report aims to provide an overview of the digital education industry with detailed market segmentation based on course type, learning type, and end user. The global digital education industry is expected to witness high growth during the forecast period. The report provides key statistics based on the financial performance of the leading digital education industry players. It also offers key trends and opportunities in the digital education market.
Strategic Insights
MARKET SEGMENTATION
The global digital education market is segmented on the basis of course type, learning type, and end user. By course type, the market is segmented into science & technology courses, entrepreneurship & business management courses, and others. Based on learning type, the market is bifurcated into self-paced online education and instructor-led online education. By end user, the market is bifurcated into individual learners & academic institutions and enterprises & government organizations.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global digital education market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America. The digital education market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trends and opportunities prevailing in the region.
From the regional perspective, North America dominates the digital education market with ~36% market share in 2021. The market growth in the region is majorly attributed to the widespread penetration of internet, large user base of smart gadgets, and the significant presence of large number of players. Udemy, Inc.; edX, Inc. and Kadenze, Inc. are among the key digital education market players in the region. These suppliers witness constant demand from academic institutions, individuals, and enterprises. The below figure shows the revenue growth trend in the global digital education market:
Source: The Insight Partners Analysis
The report analyzes factors affecting digital education market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. It also provides an exhaustive PEST analysis highlighting the factors influencing the digital education market.
IMPACT OF COVID-19 PANDEMIC
The US, India, Brazil, France, Russia, Turkey, the UK, Argentina, and Colombia were among the worst-affected countries by the COVID-19 pandemic. The COVID-19 outbreak disrupted the functioning of various industry verticals, including education. Imposition of containment measures, such as trade bans, travel restrictions, and workforce limitations at workplaces, hampered various businesses' training modules. However, such disruptions promoted strong need for digital education across the world. Enterprises and academic institutions tied-up with digital education market players for ensuring that their employees and students continue their education. Thus, the pandemic had a positive impact on the global digital education market.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global digital education market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America. The digital education market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trends and opportunities prevailing in the region.
From the regional perspective, North America dominates the digital education market with ~36% market share in 2021. The market growth in the region is majorly attributed to the widespread penetration of internet, large user base of smart gadgets, and the significant presence of large number of players. Udemy, Inc.; edX, Inc. and Kadenze, Inc. are among the key digital education market players in the region. These suppliers witness constant demand from academic institutions, individuals, and enterprises. The below figure shows the revenue growth trend in the global digital education market:
Source: The Insight Partners Analysis
The report analyzes factors affecting digital education market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. It also provides an exhaustive PEST analysis highlighting the factors influencing the digital education market.
IMPACT OF COVID-19 PANDEMIC
The US, India, Brazil, France, Russia, Turkey, the UK, Argentina, and Colombia were among the worst-affected countries by the COVID-19 pandemic. The COVID-19 outbreak disrupted the functioning of various industry verticals, including education. Imposition of containment measures, such as trade bans, travel restrictions, and workforce limitations at workplaces, hampered various businesses' training modules. However, such disruptions promoted strong need for digital education across the world. Enterprises and academic institutions tied-up with digital education market players for ensuring that their employees and students continue their education. Thus, the pandemic had a positive impact on the global digital education market.
MARKET PLAYERS
The report covers key developments in the digital education market. Various companies are focusing on organic growth strategies such as product launches, product approvals, patents, and events. Also, acquisitions and partnerships & collaborations are among the inorganic growth strategic activities witnessed in the market. These activities have paved way for the expansion of business and customer base of market players. The digital education market players are anticipated to experience lucrative growth opportunities in the future due to the rising demand for digital education.
The report also includes the profiles of key digital education market companies along with their SWOT analysis and market strategies. In addition, it focuses on leading industry players’ information such as company profiles, components and services offered, financial information of last three years, and key developments in past five years. Below mentioned is the list of a few companies engaged in the digital education market.
- Alison
- Byju’s
- Coursera, Inc.
- Edmodo (NetDragon Websoft Holdings Limited)
- edX, Inc.
- Intellipaat Software Solutions Pvt. Ltd.
- Kadenze, Inc.
- Miriadax
- Udemy, Inc.
- XuetangX
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Course Type, Learning Type, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
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 Digital Education Market - By End User
1.3.2 Digital Education Market - By Learning Type
1.3.3 Digital Education Market - By Course Type
1.3.4 Digital Education Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DIGITAL EDUCATION 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. DIGITAL EDUCATION 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. DIGITAL EDUCATION MARKET - GLOBAL MARKET ANALYSIS
6.1. DIGITAL EDUCATION - GLOBAL MARKET OVERVIEW
6.2. DIGITAL EDUCATION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. DIGITAL EDUCATION MARKET - REVENUE AND FORECASTS TO 2028 - END USER
7.1. OVERVIEW
7.2. END USER MARKET FORECASTS AND ANALYSIS
7.3. INDIVIDUAL LEARNERS AND ACADEMIC INSTITUTIONS
7.3.1. Overview
7.3.2. Individual Learners and Academic Institutions Market Forecast and Analysis
7.4. ENTERPRISES AND GOVERNMENT ORGANIZATIONS
7.4.1. Overview
7.4.2. Enterprises and Government Organizations Market Forecast and Analysis
8. DIGITAL EDUCATION MARKET - REVENUE AND FORECASTS TO 2028 - LEARNING TYPE
8.1. OVERVIEW
8.2. LEARNING TYPE MARKET FORECASTS AND ANALYSIS
8.3. SELF-PACED ONLINE EDUCATION
8.3.1. Overview
8.3.2. Self-Paced Online Education Market Forecast and Analysis
8.4. INSTRUCTOR-LED ONLINE EDUCATION
8.4.1. Overview
8.4.2. Instructor-Led Online Education Market Forecast and Analysis
9. DIGITAL EDUCATION MARKET - REVENUE AND FORECASTS TO 2028 - COURSE TYPE
9.1. OVERVIEW
9.2. COURSE TYPE MARKET FORECASTS AND ANALYSIS
9.3. SCIENCE AND TECHNOLOGY COURSES
9.3.1. Overview
9.3.2. Science and Technology Courses Market Forecast and Analysis
9.4. ENTREPRENEURSHIP AND BUSINESS MANAGEMENT COURSES
9.4.1. Overview
9.4.2. Entrepreneurship and Business Management Courses Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. DIGITAL EDUCATION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Digital Education Market Overview
10.1.2 North America Digital Education Market Forecasts and Analysis
10.1.3 North America Digital Education Market Forecasts and Analysis - By End User
10.1.4 North America Digital Education Market Forecasts and Analysis - By Learning Type
10.1.5 North America Digital Education Market Forecasts and Analysis - By Course Type
10.1.6 North America Digital Education Market Forecasts and Analysis - By Countries
10.1.6.1 United States Digital Education Market
10.1.6.1.1 United States Digital Education Market by End User
10.1.6.1.2 United States Digital Education Market by Learning Type
10.1.6.1.3 United States Digital Education Market by Course Type
10.1.6.2 Canada Digital Education Market
10.1.6.2.1 Canada Digital Education Market by End User
10.1.6.2.2 Canada Digital Education Market by Learning Type
10.1.6.2.3 Canada Digital Education Market by Course Type
10.1.6.3 Mexico Digital Education Market
10.1.6.3.1 Mexico Digital Education Market by End User
10.1.6.3.2 Mexico Digital Education Market by Learning Type
10.1.6.3.3 Mexico Digital Education Market by Course Type
10.2. EUROPE
10.2.1 Europe Digital Education Market Overview
10.2.2 Europe Digital Education Market Forecasts and Analysis
10.2.3 Europe Digital Education Market Forecasts and Analysis - By End User
10.2.4 Europe Digital Education Market Forecasts and Analysis - By Learning Type
10.2.5 Europe Digital Education Market Forecasts and Analysis - By Course Type
10.2.6 Europe Digital Education Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Digital Education Market
10.2.6.1.1 Germany Digital Education Market by End User
10.2.6.1.2 Germany Digital Education Market by Learning Type
10.2.6.1.3 Germany Digital Education Market by Course Type
10.2.6.2 France Digital Education Market
10.2.6.2.1 France Digital Education Market by End User
10.2.6.2.2 France Digital Education Market by Learning Type
10.2.6.2.3 France Digital Education Market by Course Type
10.2.6.3 Italy Digital Education Market
10.2.6.3.1 Italy Digital Education Market by End User
10.2.6.3.2 Italy Digital Education Market by Learning Type
10.2.6.3.3 Italy Digital Education Market by Course Type
10.2.6.4 United Kingdom Digital Education Market
10.2.6.4.1 United Kingdom Digital Education Market by End User
10.2.6.4.2 United Kingdom Digital Education Market by Learning Type
10.2.6.4.3 United Kingdom Digital Education Market by Course Type
10.2.6.5 Russia Digital Education Market
10.2.6.5.1 Russia Digital Education Market by End User
10.2.6.5.2 Russia Digital Education Market by Learning Type
10.2.6.5.3 Russia Digital Education Market by Course Type
10.2.6.6 Rest of Europe Digital Education Market
10.2.6.6.1 Rest of Europe Digital Education Market by End User
10.2.6.6.2 Rest of Europe Digital Education Market by Learning Type
10.2.6.6.3 Rest of Europe Digital Education Market by Course Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Digital Education Market Overview
10.3.2 Asia-Pacific Digital Education Market Forecasts and Analysis
10.3.3 Asia-Pacific Digital Education Market Forecasts and Analysis - By End User
10.3.4 Asia-Pacific Digital Education Market Forecasts and Analysis - By Learning Type
10.3.5 Asia-Pacific Digital Education Market Forecasts and Analysis - By Course Type
10.3.6 Asia-Pacific Digital Education Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Digital Education Market
10.3.6.1.1 Australia Digital Education Market by End User
10.3.6.1.2 Australia Digital Education Market by Learning Type
10.3.6.1.3 Australia Digital Education Market by Course Type
10.3.6.2 China Digital Education Market
10.3.6.2.1 China Digital Education Market by End User
10.3.6.2.2 China Digital Education Market by Learning Type
10.3.6.2.3 China Digital Education Market by Course Type
10.3.6.3 India Digital Education Market
10.3.6.3.1 India Digital Education Market by End User
10.3.6.3.2 India Digital Education Market by Learning Type
10.3.6.3.3 India Digital Education Market by Course Type
10.3.6.4 Japan Digital Education Market
10.3.6.4.1 Japan Digital Education Market by End User
10.3.6.4.2 Japan Digital Education Market by Learning Type
10.3.6.4.3 Japan Digital Education Market by Course Type
10.3.6.5 South Korea Digital Education Market
10.3.6.5.1 South Korea Digital Education Market by End User
10.3.6.5.2 South Korea Digital Education Market by Learning Type
10.3.6.5.3 South Korea Digital Education Market by Course Type
10.3.6.6 Rest of Asia-Pacific Digital Education Market
10.3.6.6.1 Rest of Asia-Pacific Digital Education Market by End User
10.3.6.6.2 Rest of Asia-Pacific Digital Education Market by Learning Type
10.3.6.6.3 Rest of Asia-Pacific Digital Education Market by Course Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Digital Education Market Overview
10.4.2 Middle East and Africa Digital Education Market Forecasts and Analysis
10.4.3 Middle East and Africa Digital Education Market Forecasts and Analysis - By End User
10.4.4 Middle East and Africa Digital Education Market Forecasts and Analysis - By Learning Type
10.4.5 Middle East and Africa Digital Education Market Forecasts and Analysis - By Course Type
10.4.6 Middle East and Africa Digital Education Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Digital Education Market
10.4.6.1.1 South Africa Digital Education Market by End User
10.4.6.1.2 South Africa Digital Education Market by Learning Type
10.4.6.1.3 South Africa Digital Education Market by Course Type
10.4.6.2 Saudi Arabia Digital Education Market
10.4.6.2.1 Saudi Arabia Digital Education Market by End User
10.4.6.2.2 Saudi Arabia Digital Education Market by Learning Type
10.4.6.2.3 Saudi Arabia Digital Education Market by Course Type
10.4.6.3 U.A.E Digital Education Market
10.4.6.3.1 U.A.E Digital Education Market by End User
10.4.6.3.2 U.A.E Digital Education Market by Learning Type
10.4.6.3.3 U.A.E Digital Education Market by Course Type
10.4.6.4 Rest of Middle East and Africa Digital Education Market
10.4.6.4.1 Rest of Middle East and Africa Digital Education Market by End User
10.4.6.4.2 Rest of Middle East and Africa Digital Education Market by Learning Type
10.4.6.4.3 Rest of Middle East and Africa Digital Education Market by Course Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Digital Education Market Overview
10.5.2 South and Central America Digital Education Market Forecasts and Analysis
10.5.3 South and Central America Digital Education Market Forecasts and Analysis - By End User
10.5.4 South and Central America Digital Education Market Forecasts and Analysis - By Learning Type
10.5.5 South and Central America Digital Education Market Forecasts and Analysis - By Course Type
10.5.6 South and Central America Digital Education Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Digital Education Market
10.5.6.1.1 Brazil Digital Education Market by End User
10.5.6.1.2 Brazil Digital Education Market by Learning Type
10.5.6.1.3 Brazil Digital Education Market by Course Type
10.5.6.2 Argentina Digital Education Market
10.5.6.2.1 Argentina Digital Education Market by End User
10.5.6.2.2 Argentina Digital Education Market by Learning Type
10.5.6.2.3 Argentina Digital Education Market by Course Type
10.5.6.3 Rest of South and Central America Digital Education Market
10.5.6.3.1 Rest of South and Central America Digital Education Market by End User
10.5.6.3.2 Rest of South and Central America Digital Education Market by Learning Type
10.5.6.3.3 Rest of South and Central America Digital Education Market by Course Type
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. DIGITAL EDUCATION MARKET, KEY COMPANY PROFILES
12.1. ALISON
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. COURSERA INC.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. EDMODO
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. FUTURELEARN
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. INTELLIPAAT
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. IVERSITY
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. JIGSAW ACADEMY EDUCATION PVT LTD.
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. MIRíADAX
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. PLURALSIGHT LLC
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. UDEMY, 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. Alison
2. Coursera Inc.
3. Edmodo
4. FutureLearn
5. Intellipaat
6. Iversity
7. Jigsaw Academy Education Pvt Ltd.
8. Miríadax
9. Pluralsight LLC
10. Udemy, 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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Unified Threat Management Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services); Deployment (Cloud and On-Premise); Enterprise Size (Large Enterprises and SMEs); and End Users (BFSI, Manufacturing, Healthcare, Retail, Government, IT & Telecom, and Others)