The OpenStack Service Market is expected to register a CAGR of 23.1% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
OpenStack Service Market report gives the thorough study, with segmentation based on Service Type, Deployment Mode, Organization Size, and End-user Industry. Regional information is included covering major markets in key countries to see the world. Market valuations are offered in US dollars (US$) per segment and compound annual growth rate (CAGR) forecasts that help you understand market conditions, market growth and competitor landscape across regions and segments.
Purpose of the ReportThe report OpenStack Service Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
OpenStack Service Market Segmentation
Component- Solution
- Services
- Large Enterprises
- Small and Medium-Size Enterprises
- BFSI
- Government
- IT and Telecom
- Retail and Ecommerce
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
OpenStack Service Market Growth Drivers- Rising Adoption of Cloud Infrastructure: The increase in the Industry trend of moving to a Cloud environment drives the OpenStack Service Market growth. Organizations are using OpenStack due to its extensibility, scalability, and affordability in running private and hybrid clouds. Nearly 90 percent of companies use hybrid or multi-cloud architectures and the market for OpenStack services is growing fast, especially among enterprises and IT, telecom and healthcare.
- Advancements in Open-Source Technology: OpenStack is open source which leads to rapid innovation and is attractive to developers and businesses who want something customizable.
- Big tech Companies investing into OpenStack: Big tech companies also support OpenStack and help make it more secure, performant, and interoperable to get market share. OpenStack can be found in more than 100 public cloud data centers around the world and so has a high global penetration.
- Expansion of Edge Computing:
The edge computing trend will drive the OpenStack Service Market positively. OpenStack infrastructure can also be used as an edge instance for real-time data processing near the data source. Edge computing will be a huge market driver along with IoT devices and 5G network as they develop. - Advancements in Security Features:
The higher the threat, the better the security is in OpenStack which will bring in more businesses. OpenStack’s community is constantly upgrading their security controls, so it’s the secure choice for companies with valuable data. According to industry statistics, 60 % of companies place security on their priority list for cloud services adoption, and OpenStack is the best option for a secure cloud.
- Alignment with AI and Machine Learning:
Integration with Artificial intelligence (AI) and Machine learning (ML) is growing as one of the most important OpenStack Service Market Trends. These are technologies that let companies to sift through large amounts of data to extract insights to boost business productivity. OpenStack flexibility lends itself perfectly to AI and ML workloads, and this is expected to increase the market size by many folds.
- Rising Demand in Developing Economies: Emerging economies in Asia-Pacific and Latin America are deploying massive clouds for their digital transformation and open the potential of the OpenStack Service Market. With cloud expenditure growing in India and Brazil, where the Cloud adoption rate has been above 50% for urban enterprises, the markets are open for OpenStack to expand.
- Growing Demand for Multi-Cloud Management: Since organizations now require multi-cloud deployments to ensure maximum performance and redundancy, OpenStack’s ubiquity on various cloud providers gives them an edge. Offering a single, seamless solution to manage multiple clouds is an attractive business for OpenStack providers that will fuel market demand over the coming years.
- Expanding Telecom Sector with 5G: The introduction of 5G networks is one of the big things that will be coming to OpenStack services for telecommunications. The telecom operators are opting for OpenStack for their 5G infrastructure for faster data processing at the edge. As 5G connection in the world reaches 1.5 billion by 2025, the OpenStack Service Market has ample opportunities to see investments by the telecommunications industry.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the OpenStack Service Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the OpenStack Service Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Prominent market players are - Canonical Ltd, Cisco Systems, Dell EMC, Hewlett Packard Enterprise Development LP, Huawei Technologies Co Ltd, IBM, Mirantis Inc, Oracle, SUSE
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The market is expected to grow at a CAGR of 23.1% by 2031.
The OpenStack Service Market grows as cloud infrastructure adoption surges, with OpenStack’s flexibility and scalability attracting enterprises. Advancements in open-source technology further drive market share across sectors globally.
Key trends include integrating OpenStack with AI, IoT, and ML for optimized cloud operations and a heightened focus on enhanced security and compliance, supporting OpenStack’s growth across diverse industries.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 OpenStack Service Market - By Component
1.3.2 OpenStack Service Market - By Enterprise Size
1.3.3 OpenStack Service Market - By Industry Vertical
1.3.4 OpenStack Service Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. OPENSTACK SERVICE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. OPENSTACK SERVICE 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. OPENSTACK SERVICE MARKET - GLOBAL MARKET ANALYSIS
6.1. OPENSTACK SERVICE - GLOBAL MARKET OVERVIEW
6.2. OPENSTACK SERVICE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. OPENSTACK SERVICE MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOLUTION
7.3.1. Overview
7.3.2. Solution Market Forecast and Analysis
7.4. SERVICES
7.4.1. Overview
7.4.2. Services Market Forecast and Analysis
8. OPENSTACK SERVICE MARKET - REVENUE AND FORECASTS TO 2028 - ENTERPRISE SIZE
8.1. OVERVIEW
8.2. ENTERPRISE SIZE MARKET FORECASTS AND ANALYSIS
8.3. LARGE ENTERPRISES
8.3.1. Overview
8.3.2. Large Enterprises Market Forecast and Analysis
8.4. SMALL AND MEDIUM-SIZE ENTERPRISES
8.4.1. Overview
8.4.2. Small and Medium-Size Enterprises Market Forecast and Analysis
9. OPENSTACK SERVICE MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
9.1. OVERVIEW
9.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
9.3. BFSI
9.3.1. Overview
9.3.2. BFSI Market Forecast and Analysis
9.4. GOVERNMENT
9.4.1. Overview
9.4.2. Government Market Forecast and Analysis
9.5. IT AND TELECOM
9.5.1. Overview
9.5.2. IT and Telecom Market Forecast and Analysis
9.6. RETAIL AND ECOMMERCE
9.6.1. Overview
9.6.2. Retail and Ecommerce Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. OPENSTACK SERVICE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America OpenStack Service Market Overview
10.1.2 North America OpenStack Service Market Forecasts and Analysis
10.1.3 North America OpenStack Service Market Forecasts and Analysis - By Component
10.1.4 North America OpenStack Service Market Forecasts and Analysis - By Enterprise Size
10.1.5 North America OpenStack Service Market Forecasts and Analysis - By Industry Vertical
10.1.6 North America OpenStack Service Market Forecasts and Analysis - By Countries
10.1.6.1 Canada OpenStack Service Market
10.1.6.1.1 Canada OpenStack Service Market by Component
10.1.6.1.2 Canada OpenStack Service Market by Enterprise Size
10.1.6.1.3 Canada OpenStack Service Market by Industry Vertical
10.1.6.2 Mexico OpenStack Service Market
10.1.6.2.1 Mexico OpenStack Service Market by Component
10.1.6.2.2 Mexico OpenStack Service Market by Enterprise Size
10.1.6.2.3 Mexico OpenStack Service Market by Industry Vertical
10.1.6.3 US OpenStack Service Market
10.1.6.3.1 US OpenStack Service Market by Component
10.1.6.3.2 US OpenStack Service Market by Enterprise Size
10.1.6.3.3 US OpenStack Service Market by Industry Vertical
10.2. EUROPE
10.2.1 Europe OpenStack Service Market Overview
10.2.2 Europe OpenStack Service Market Forecasts and Analysis
10.2.3 Europe OpenStack Service Market Forecasts and Analysis - By Component
10.2.4 Europe OpenStack Service Market Forecasts and Analysis - By Enterprise Size
10.2.5 Europe OpenStack Service Market Forecasts and Analysis - By Industry Vertical
10.2.6 Europe OpenStack Service Market Forecasts and Analysis - By Countries
10.2.6.1 Germany OpenStack Service Market
10.2.6.1.1 Germany OpenStack Service Market by Component
10.2.6.1.2 Germany OpenStack Service Market by Enterprise Size
10.2.6.1.3 Germany OpenStack Service Market by Industry Vertical
10.2.6.2 France OpenStack Service Market
10.2.6.2.1 France OpenStack Service Market by Component
10.2.6.2.2 France OpenStack Service Market by Enterprise Size
10.2.6.2.3 France OpenStack Service Market by Industry Vertical
10.2.6.3 Italy OpenStack Service Market
10.2.6.3.1 Italy OpenStack Service Market by Component
10.2.6.3.2 Italy OpenStack Service Market by Enterprise Size
10.2.6.3.3 Italy OpenStack Service Market by Industry Vertical
10.2.6.4 United Kingdom OpenStack Service Market
10.2.6.4.1 United Kingdom OpenStack Service Market by Component
10.2.6.4.2 United Kingdom OpenStack Service Market by Enterprise Size
10.2.6.4.3 United Kingdom OpenStack Service Market by Industry Vertical
10.2.6.5 Russia OpenStack Service Market
10.2.6.5.1 Russia OpenStack Service Market by Component
10.2.6.5.2 Russia OpenStack Service Market by Enterprise Size
10.2.6.5.3 Russia OpenStack Service Market by Industry Vertical
10.2.6.6 Rest of Europe OpenStack Service Market
10.2.6.6.1 Rest of Europe OpenStack Service Market by Component
10.2.6.6.2 Rest of Europe OpenStack Service Market by Enterprise Size
10.2.6.6.3 Rest of Europe OpenStack Service Market by Industry Vertical
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific OpenStack Service Market Overview
10.3.2 Asia-Pacific OpenStack Service Market Forecasts and Analysis
10.3.3 Asia-Pacific OpenStack Service Market Forecasts and Analysis - By Component
10.3.4 Asia-Pacific OpenStack Service Market Forecasts and Analysis - By Enterprise Size
10.3.5 Asia-Pacific OpenStack Service Market Forecasts and Analysis - By Industry Vertical
10.3.6 Asia-Pacific OpenStack Service Market Forecasts and Analysis - By Countries
10.3.6.1 Australia OpenStack Service Market
10.3.6.1.1 Australia OpenStack Service Market by Component
10.3.6.1.2 Australia OpenStack Service Market by Enterprise Size
10.3.6.1.3 Australia OpenStack Service Market by Industry Vertical
10.3.6.2 China OpenStack Service Market
10.3.6.2.1 China OpenStack Service Market by Component
10.3.6.2.2 China OpenStack Service Market by Enterprise Size
10.3.6.2.3 China OpenStack Service Market by Industry Vertical
10.3.6.3 India OpenStack Service Market
10.3.6.3.1 India OpenStack Service Market by Component
10.3.6.3.2 India OpenStack Service Market by Enterprise Size
10.3.6.3.3 India OpenStack Service Market by Industry Vertical
10.3.6.4 Japan OpenStack Service Market
10.3.6.4.1 Japan OpenStack Service Market by Component
10.3.6.4.2 Japan OpenStack Service Market by Enterprise Size
10.3.6.4.3 Japan OpenStack Service Market by Industry Vertical
10.3.6.5 South Korea OpenStack Service Market
10.3.6.5.1 South Korea OpenStack Service Market by Component
10.3.6.5.2 South Korea OpenStack Service Market by Enterprise Size
10.3.6.5.3 South Korea OpenStack Service Market by Industry Vertical
10.3.6.6 Rest of Asia-Pacific OpenStack Service Market
10.3.6.6.1 Rest of Asia-Pacific OpenStack Service Market by Component
10.3.6.6.2 Rest of Asia-Pacific OpenStack Service Market by Enterprise Size
10.3.6.6.3 Rest of Asia-Pacific OpenStack Service Market by Industry Vertical
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa OpenStack Service Market Overview
10.4.2 Middle East and Africa OpenStack Service Market Forecasts and Analysis
10.4.3 Middle East and Africa OpenStack Service Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa OpenStack Service Market Forecasts and Analysis - By Enterprise Size
10.4.5 Middle East and Africa OpenStack Service Market Forecasts and Analysis - By Industry Vertical
10.4.6 Middle East and Africa OpenStack Service Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa OpenStack Service Market
10.4.6.1.1 South Africa OpenStack Service Market by Component
10.4.6.1.2 South Africa OpenStack Service Market by Enterprise Size
10.4.6.1.3 South Africa OpenStack Service Market by Industry Vertical
10.4.6.2 Saudi Arabia OpenStack Service Market
10.4.6.2.1 Saudi Arabia OpenStack Service Market by Component
10.4.6.2.2 Saudi Arabia OpenStack Service Market by Enterprise Size
10.4.6.2.3 Saudi Arabia OpenStack Service Market by Industry Vertical
10.4.6.3 U.A.E OpenStack Service Market
10.4.6.3.1 U.A.E OpenStack Service Market by Component
10.4.6.3.2 U.A.E OpenStack Service Market by Enterprise Size
10.4.6.3.3 U.A.E OpenStack Service Market by Industry Vertical
10.4.6.4 Rest of Middle East and Africa OpenStack Service Market
10.4.6.4.1 Rest of Middle East and Africa OpenStack Service Market by Component
10.4.6.4.2 Rest of Middle East and Africa OpenStack Service Market by Enterprise Size
10.4.6.4.3 Rest of Middle East and Africa OpenStack Service Market by Industry Vertical
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America OpenStack Service Market Overview
10.5.2 South and Central America OpenStack Service Market Forecasts and Analysis
10.5.3 South and Central America OpenStack Service Market Forecasts and Analysis - By Component
10.5.4 South and Central America OpenStack Service Market Forecasts and Analysis - By Enterprise Size
10.5.5 South and Central America OpenStack Service Market Forecasts and Analysis - By Industry Vertical
10.5.6 South and Central America OpenStack Service Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil OpenStack Service Market
10.5.6.1.1 Brazil OpenStack Service Market by Component
10.5.6.1.2 Brazil OpenStack Service Market by Enterprise Size
10.5.6.1.3 Brazil OpenStack Service Market by Industry Vertical
10.5.6.2 Argentina OpenStack Service Market
10.5.6.2.1 Argentina OpenStack Service Market by Component
10.5.6.2.2 Argentina OpenStack Service Market by Enterprise Size
10.5.6.2.3 Argentina OpenStack Service Market by Industry Vertical
10.5.6.3 Rest of South and Central America OpenStack Service Market
10.5.6.3.1 Rest of South and Central America OpenStack Service Market by Component
10.5.6.3.2 Rest of South and Central America OpenStack Service Market by Enterprise Size
10.5.6.3.3 Rest of South and Central America OpenStack Service Market by Industry Vertical
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. OPENSTACK SERVICE MARKET, KEY COMPANY PROFILES
12.1. CANONICAL LTD.
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. CISCO SYSTEMS
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. DELL EMC
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. HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP
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. HUAWEI TECHNOLOGIES CO., LTD.
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. IBM
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. MIRANTIS INC.
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. ORACLE
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. SUSE
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. VMWARE, 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
1.Canonical Ltd.
2.Cisco Systems
3.Dell EMC
4.Hewlett Packard Enterprise Development LP
5.Huawei Technologies Co., Ltd.
6.IBM
7.Mirantis Inc.
8.Oracle
9.SUSE
10.VMware, 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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