The artificial intelligence in healthcare market in Europe is expected to grow from US$ 1,368.59 million in 2019 to US$ 36,015.25 million by 2027; it is estimated to grow at a CAGR of 49.3% from 2020 to 2027.
The UK, France, Germany, Spain, and Italy are major economies in Europe. Rising investment in AI healthcare startups is the major factor driving the Europe artificial intelligence in healthcare market. As Artificial Intelligence is among the most important technological developments in healthcare sector, numerous startups are developing AI-driven imaging and diagnostic solutions that are accountable for the growth of the market. The COVID-19 outbreak has significantly promoted the implementation of remote health check-ups using digital tools, delivering clinical services to patients over distance rather than in-person. Moreover, Babylon Health, a UK-based AI chatbot, can competently read, understand, and learn from anonymized, aggregated, and complied medical datasets, patient health records, and the conference notes that clinicians make. The company raised ~US$ 550 million in 2019. Companies are progressively associating with AI startups as incumbents look to startups to help them compete with newer entrants entering the space. Microsoft partners with KenSci, for the development of artificial intelligence and a machine learning-powered risk prediction platform. Moreover, in February 2019, KenSci secured around US$ 22 million in series B financing directed by Polaris Partners, Ignition Partners, Osage University Partners, Mindset Ventures, and new strategic investor UL Ventures. Similarly, NVIDIA collaborates with Paige.AI, which uses AI for cancer pathology. Additionally, Google has teamed up with Suki, an AI-powered, voice-enabled digital assistant for doctors. Therefore, a significant increase in the number of artificial intelligence startups in the healthcare sector is anticipated to positively influence the Europe market growth during the forecast period.
Europe is the worst-hit region after China. As the coronavirus cases increase in the area, many countries are fighting to control the disease's spread. Artificial intelligence (AI) and machine learning represent a crucial part in better knowing and discussing the COVID-19 crisis. Machine learning technology permits computers to mimic human intelligence and ingest large volumes of data to identify patterns and insights quickly. In the fight toward COVID-19, associations have been instantaneous to utilize their machine learning expertise in several areas, such as scaling customer connections and knowing COVID-19 spreads and speeds up research and medication. The researchers recorded an elevated selection and use of AI in scientific and medical research, particularly in applications such as medical diagnosis, telemedicine, epidemiological studies, and clinical management of patients. There was also a shift in approaches towards AI and data distribution. According to the study, the crisis occurred in a comprehensive agreement of robots in the workplace and data distribution to monitor the virus's spread.The initiatives of governments in the region open a window of opportunities for the firms involved in the artificial intelligence for diagnosis market.
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 artificial intelligence in healthcare market. The Europe artificial intelligence in healthcare market is expected to grow at a good CAGR during the forecast period.
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Europe Artificial Intelligence in Healthcare Market Segmentation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Europe Artificial Intelligence in Healthcare Market – By Component
- Software Solution
- Hardware
- Services
Europe Artificial Intelligence in Healthcare Market – By Application
- Robot Assisted Surgery
- Virtual Assistants
- Administrative Workflow Assistants
- Connected Machines
- Diagnosis
- Clinical Trials
- Fraud Detection
- Cybersecurity
- Dosage Error Reduction
- Others
Europe Artificial Intelligence in Healthcare Market – By End User
- Hospitals & Healthcare Providers
- Patients
- Pharma & Biotech Companies
- Healthcare Payers
- Others
Europe Artificial Intelligence in Healthcare Market, by Country
- Germany
- France
- United Kingdom
- Italy
- Spain
- Rest of Europe
Europe Artificial Intelligence in Healthcare Market - Companies Mentioned
- Alphabet Inc.
- Arterys Inc.
- General Electric Company
- Intel Corporation
- Johnson and Johnson Services, Inc.
- Koninklijke Philips N.V.
- Microsoft Corporation
- Nuance Communications, Inc.
- NVIDIA CORPORATION
- Siemens Healthineers AG
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Artificial Intelligence in Healthcare Market – By Component
1.3.2 Europe Artificial Intelligence in Healthcare Market – By Application
1.3.3 Europe Artificial Intelligence in Healthcare Market – By End User
1.3.4 Europe Artificial Intelligence in Healthcare market – By Country
2. Europe Artificial Intelligence in Healthcare Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Artificial Intelligence in Healthcare – Market Landscape
4.1 Overview
4.2 Europe PEST Analysis
4.3 Expert Opinions
5. Europe Artificial Intelligence in Healthcare Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Application of Artificial Intelligence (AI) in Healthcare
5.1.2 Rising Investment in AI Healthcare Start ups
5.1.3 Escalating Cross-Industry Partnerships and Collaborations
5.2 Market Restraints
5.2.1 Scarcity of Workforce and Imprecise Regulatory Guidelines for Medical Software
5.3 Market Opportunities
5.3.1 Mounting Potential in Emerging Economies
5.4 Future Trends
5.4.1 AI Adoption in Epidemic Outbreak Prediction and Response
5.5 Impact Analysis
6. Artificial Intelligence in Healthcare Market – Europe Analysis
6.1 Europe Artificial Intelligence in Healthcare Market Revenue Forecast and Analysis
7. Europe Artificial Intelligence in Healthcare Market Analysis – By Component
7.1 Overview
7.2 Europe Artificial Intelligence in Healthcare Market Revenue Share, by Component (2019 and 2027)
7.3 Software Solution
7.3.1 Overview
7.3.2 Software Solution: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Hardware
7.4.1 Overview
7.4.2 Hardware: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Services
7.5.1 Overview
7.5.2 Services: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8. Europe Artificial Intelligence in Healthcare Market Analysis – By Application
8.1 Overview
8.2 Europe Artificial Intelligence in Healthcare Market Revenue Share, by Application (2019 and 2027)
8.3 Robot Assisted Surgery
8.3.1 Overview
8.3.2 Robot Assisted Surgery: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Virtual Assistants
8.4.1 Overview
8.4.2 Virtual Assistants: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Administrative Workflow Assistants
8.5.1 Overview
8.5.2 Administrative Workflow Assistants: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Connected Machines
8.6.1 Overview
8.6.2 Connected Machines: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.7 Diagnosis
8.7.1 Overview
8.7.2 Diagnosis: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.8 Clinical Trials
8.8.1 Overview
8.8.2 Clinical Trials: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.9 Fraud Detection
8.9.1 Overview
8.9.2 Fraud Detection: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.10 Cybersecurity
8.10.1 Overview
8.10.2 Cybersecurity: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.11 Dosage Error Reduction
8.11.1 Overview
8.11.2 Dosage Error Reduction: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
8.12 Others
8.12.1 Overview
8.12.2 Others: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
9. Europe Artificial Intelligence in Healthcare Market Analysis – By End User
9.1 Overview
9.2 Europe Artificial Intelligence in Healthcare Market, by End-User, 2019 and 2027 (%)
9.3 Hospitals & Healthcare Providers
9.3.1 Overview
9.3.2 Hospitals & Healthcare Providers: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Patients
9.4.1 Overview
9.4.2 Patients: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Pharma and Biotech Companies
9.5.1 Overview
9.5.2 Pharma and Biotech Companies: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
9.6 Healthcare Payers
9.6.1 Overview
9.6.2 Healthcare Payers Market: Artificial Intelligence in Healthcare Market– Revenue and Forecast to 2027 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others: Artificial Intelligence in Healthcare Market– Revenue and Forecast to 2027 (US$ Million)
10. Europe Artificial Intelligence in Healthcare Market – Country Analysis
10.1 Europe: Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027
10.1.1 Europe Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, By Country (%)
10.1.2 UK Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.1 UK Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2.2 UK Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
10.1.2.3 UK Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
10.1.2.4 UK Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)
10.1.3 Germany Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.3.1 Germany Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.3.2 Germany Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
10.1.3.3 Germany Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
10.1.3.4 Germany Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)
10.1.4 France Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.4.1 France Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.4.2 France Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
10.1.4.3 France Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
10.1.4.4 France Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)
10.1.5 Italy Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.5.1 Italy Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.5.2 Italy Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
10.1.5.3 Italy Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
10.1.5.4 Italy Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)
10.1.6 Spain Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.6.1 Spain Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.6.2 Spain Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
10.1.6.3 Spain Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
10.1.6.4 Spain Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)
10.1.7 Rest of Europe Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.7.1 Rest of Europe Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.7.2 Rest of Europe Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
10.1.7.3 Rest of Europe Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
10.1.7.4 Rest of Europe Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)
11. Impact of COVID-19 Pandemic on Europe Artificial Intelligence in Healthcare Market
11.1 Europe: Impact Assessment Of COVID-19 Pandemic
12. Europe Artificial Intelligence (AI) in Healthcare Market –Industry Landscape
12.1 Overview
12.2 Inorganic Growth Strategies
12.2.1 Overview
12.3 Organic Growth Strategies
12.3.1 Overview
13. Company Profile
13.1 General Electric Company
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Alphabet Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Intel Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Koninklijke Philips N.V.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Microsoft Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 NVIDIA CORPORATION
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Nuance Communications, Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Siemens Healthineers AG
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Arterys Inc.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Johnson and Johnson Services, Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Insight Partners
14.2 Glossary of Terms, Artificial Intelligence in Healthcare Market
LIST OF TABLES
Table 1. UK Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
Table 2. UK Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
Table 3. UK Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)
Table 4. Germany Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
Table 5. Germany Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
Table 6. Germany Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)CAGR
Table 7. France Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
Table 8. France Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
Table 9. France Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)
Table 10. Italy Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
Table 11. Italy Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
Table 12. Italy Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)
Table 13. Spain Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
Table 14. Spain Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
Table 15. Spain Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)
Table 16. Rest of Europe Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Component (US$ Mn)
Table 17. Rest of Europe Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by Application (US$ Mn)
Table 18. Rest of Europe Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, by End User (US$ Mn)
Table 19. Recent Inorganic Growth Strategies in the Artificial Intelligence in Healthcare Market
Table 20. Recent Organic Growth Strategies in the Artificial Intelligence in Healthcare Market
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Artificial Intelligence in Healthcare Market Segmentation
Figure 2. Europe Artificial Intelligence in Healthcare Market Segmentation, By Country
Figure 3. Europe Artificial Intelligence in Healthcare Market Overview
Figure 4. Robot Assisted Surgery Segment by Application Segment Expected to Witness Rapid Growth
Figure 5. UK to Show Significant Growth During Forecast Period
Figure 6. Europe Artificial Intelligence in Healthcare Market, Industry Landscape
Figure 7. Artificial Intelligence in Healthcare Market in Europe: PEST Analysis
Figure 8. Europe Artificial Intelligence in Healthcare Market Impact Analysis of Drivers and Restraints
Figure 9. Europe Artificial Intelligence in Healthcare Market – Revenue Forecast and Analysis – 2019- 2027
Figure 10. Europe Artificial Intelligence in Healthcare Market Revenue Share, by Component (2019 and 2027)
Figure 11. Europe Software Solution: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Europe Hardware: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. Europe Services: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. Europe Artificial Intelligence in Healthcare Market Revenue Share, by Application (2019 and 2027)
Figure 15. Europe Robot Assisted Surgery: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. Europe Virtual Assistants: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Europe Administrative Workflow Assistants: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Europe Connected Machines: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Europe Diagnosis: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Europe Clinical Trials: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Europe Fraud Detection: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Europe Cybersecurity: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Europe Dosage Error Reduction: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Europe Others: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Europe Artificial Intelligence in Healthcare Market, by End-User, 2019 and 2027 (%)
Figure 26. Europe Hospitals & Healthcare Providers: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Europe Patients: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Europe Pharma and Biotech Companies: Artificial Intelligence in Healthcare Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Europe Healthcare Payers: Artificial Intelligence in Healthcare Market– Revenue and Forecast to 2027 (US$ Million)
Figure 30. Europe Others: Artificial Intelligence in Healthcare Market– Revenue and Forecast to 2027 (US$ Million)
Figure 31. Europe Artificial Intelligence in Healthcare Market Revenue Overview, by Country, 2019 (US$ MN)
Figure 32. Europe Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027, By Country (%)
Figure 33. UK Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 34. Germany Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 35. France Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 36. Italy Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 37. Spain Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 38. Rest of Europe Artificial Intelligence in Healthcare Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 39. Impact of COVID-19 Pandemic in European Country Markets
- Alphabet Inc.
- Arterys Inc.
- General Electric Company
- Intel Corporation
- Johnson and Johnson Services, Inc.
- Koninklijke Philips N.V.
- Microsoft Corporation
- Nuance Communications, Inc.
- NVIDIA CORPORATION
- Siemens Healthineers AG
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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Mar 2021
Emergency Medical Software Market
Forecast to 2028 - COVID-19 Impact and Global Analysis By Product [Early Warning and Vulnerability Alert System (EWVAS), EMS Computer Aided Dispatch (CAD) System, Incident Response Software, Ambulance Management Software, and Others], Mode of Delivery [On Premises and Software as a Service (SaaS)], Platform (Android, iOS, Windows, and Others), and End User (Commercial, Municipal, State City Agencies, and Others)