Global remittance software market was valued US$ 1279.64 Mn in 2017, it is estimated to grow at a CAGR of 12.7% during the forecast period.
Remittance software is a money transfer software which provides online transfer of money by the use of, online portal, money transfer app, and mobile phone apps. In addition to this, the entry of mobile based money transfer online players has put the remittance market dynamics into an interesting situation.The banking industry had already established their own remittance system but lack of availability of these banks or their networks in the remote areas of developing countries has left large scopes for improvement in the remittance services industry. As a result, there has been a marked rise in the awareness amongst the masses about the various available modes for money transfers. The market for remittance software is highly fragmented market with the top ten companies accounting for approximately 20% of the market share.
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Remittance Software Market: Strategic Insights
Market Size Value in US$ 1279.64 Million in 2017 Market Size Value by US$ 3323.41 Million by 2025 Growth rate CAGR of 12.7% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
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Remittance Software Market: Strategic Insights
| Market Size Value in | US$ 1279.64 Million in 2017 |
| Market Size Value by | US$ 3323.41 Million by 2025 |
| Growth rate | CAGR of 12.7% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
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APAC is largest adopter of remittance software, followed by North America and South America region. This is attributable to growing numbers of migrants across border and increasing technological trends is anticipated to be the fastest growing region in terms of remittance software market.
The report focuses on an in-depth segmentation of remittance software market based by software, by deployment type, and by application. The geographic segmentation of the report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The regional market has been further bifurcated by respective countries. By application segment personal remittance software accounted for the largest market share and highest market growth in 2017; whereas, APAC region is expected to grow at the highest CAGR during the forecast period.
The report aims to provide an overview of global remittance software market with detailed market segmentation. Also, it analyzes the current remittance software market scenario and forecasts the market till 2025. The report covers market dynamics effecting the market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the markets with respect to all geographic regions. The report also includes the detailed company profiles of the key players in the market along with their market strategies. The report also provides PEST analysis of all five regions along with the SWOT analysis for all company profiled in the report.
Rapidly growing economies in Asia-Pacific (APAC) with significant growth smartphone users and digitalization across countries will pave the path for increasing adoption and propel the market for remittance software market. The Asia-Pacific region is expected to lead the market with highest CAGR during the forecast period.
Some of the key players of remittance software market include Remit One Ltd., Remit Anywhere, FinCode Ltd., MTS, Girmiti Software Private Limited, Grey Systems, ControlBox Corp. NextGen Systems UK Limited, Fiserv, Inc., and Daemon Software among others.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Software ; Deployment Type ; & Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
1 Table of Contents 2
1.1 List of Tables 9
1.2 List of Figures 11
2 Introduction 14
2.1 Scope of the Study 14
2.2 The Insight Partners Research Report Guidance 14
3 Key Takeaways 16
4 Market Landscape 19
4.1 Market Overview 19
4.2 Market Segmentation 21
4.2.1 Global Remittance Software Market – By Software 22
4.2.2 Global Remittance Software Market – By Deployment Type 23
4.2.3 Global Remittance Software Market – By Application 23
4.2.4 Global Remittance Software Market – By Geography 23
4.3 PEST Analysis 25
4.3.1 North America PEST Analysis 25
4.3.2 Europe PEST Analysis 27
4.3.3 Asia Pacific PEST Analysis 30
4.3.4 Middle East & Africa PEST Analysis 33
4.3.5 South America PEST Analysis 36
5 Global Remittance Software Market – Key Industry Dynamics 38
5.1 Key Market Drivers 38
5.1.1 Proliferation in Adoption of Mobile App based Remittance Service 38
5.1.2 Increasing Number of Migrants 39
5.1.3 Decline in Remittance Cost 39
5.2 Key Market Restraints 40
5.2.1 Limited Money Distribution Methods 40
5.2.2 Cyber Security Concern 40
5.3 Key Market Opporunities 41
5.3.1 Emergence of New Technologies 41
5.3.2 Focusing on Customer Experience 41
5.4 Future Trends 41
5.4.1 Emerging Economies Gain More Prominence 42
5.5 Impact Analysis of Drivers and Restraints 43
6 Remittance Software Market – Global 44
6.1 Global Remittance Software Market Overview 44
6.2 Global Remittance Software Market Forecast and Analysis 45
7 Global Remittance Software Market Analysis – By Software 46
7.1 Overview 46
7.2 Web-Based Software 47
7.2.1 Overview 47
7.2.2 Global Web-Based Software Market Revenue and Forecasts to 2025 (US$ Mn) 47
7.3 Application Based Software 49
7.3.1 Overview 49
7.3.2 Global Application Based Software Market Revenue and Forecasts to 2025 (US$ Mn) 49
8 Global Remittance Software Market Analysis – By Deployment Type 51
8.1 Overview 51
8.2 On-Premise Deployment Type 52
8.2.1 Overview 52
8.2.2 Global On-Premise Deployment Market Revenue and Forecasts to 2025 (US$ Mn) 52
8.3 Cloud Deployment Type 53
8.3.1 Overview 53
8.3.2 Global Cloud Deployment Market Revenue and Forecasts to 2025 (US$ Mn) 53
9 Global Remittance Software Market Analysis – By Application 55
9.1 Overview 55
9.2 Personal Remittance Software 56
9.2.1 Overview 56
9.2.2 Global Personal Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 56
9.3 Business Remittance Software 57
9.3.1 Overview 57
9.3.2 Global Business Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 57
9.4 Public Remittance Software 58
9.4.1 Overview 58
9.4.2 Global Public Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 58
10 Global Remittance Software Market – Geographical Analysis 59
10.1 Overview 59
10.2 North America Remittance Software Market Revenue and Forecasts to 2025 60
10.2.1 Overview 60
10.2.2 North America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 61
10.2.3 North America Remittance Software Market Breakdown by Key Countries 62
10.2.3.1 U.S. Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 63
10.2.3.2 Canada Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 64
10.2.3.3 Mexico Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 65
10.2.4 North America Remittance Software Market Breakdown by Software 66
10.2.5 North America Remittance Software Market Breakdown by Deployment Type 67
10.2.6 North America Remittance Software Market Breakdown by Application 68
10.3 Europe Remittance Software Market Revenue and Forecasts to 2025 70
10.3.1 Overview 70
10.3.2 Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 71
10.3.3 Europe Remittance Software Market Breakdown by Key Countries 72
10.3.3.1 France Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 73
10.3.3.2 Germany Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 74
10.3.3.3 Italy Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 75
10.3.3.4 Spain Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 76
10.3.3.5 UK Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 77
10.3.3.6 Rest of Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 78
10.3.4 Europe Remittance Software Market Breakdown by Software 79
10.3.5 Europe Remittance Software Market Breakdown by Deployment Type 80
10.3.6 Europe Remittance Software Market Breakdown by Application 81
10.4 Asia Pacific (APAC) Remittance Software Market Revenue and Forecasts to 2025 83
10.4.1 Overview 83
10.4.2 Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 84
10.4.3 Asia Pacific Remittance Software Market Breakdown by Key Countries 85
10.4.3.1 Japan Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 86
10.4.3.2 China Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 87
10.4.3.3 India Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 88
10.4.3.4 Australia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 89
10.4.3.5 Rest of APAC Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 90
10.4.4 Asia Pacific Remittance Software Market Breakdown by Software 91
10.4.5 Asia Pacific Remittance Software Market Breakdown by Deployment Type 92
10.4.6 Asia Pacific Remittance Software Market Breakdown by Application 93
10.5 Middle East & Africa (MEA) Remittance Software Market Revenue and Forecasts to 2025 95
10.5.1 Overview 95
10.5.2 Middle East & Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 96
10.5.3 Middle East & Africa Remittance Software Market Breakdown by Key Countries 97
10.5.3.1 Saudi Arabia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 98
10.5.3.2 UAE Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 99
10.5.3.3 South Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 100
10.5.4 Middle East and Africa Remittance Software Market Breakdown by Software 101
10.5.5 Middle East and Africa Remittance Software Market Breakdown by Deployment Type 102
10.5.6 Middle East and Africa Remittance Software Market Breakdown by Application 103
10.6 South America Remittance Software Market Revenue and Forecasts to 2025 105
10.6.1 Overview 105
10.6.2 South America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 105
10.6.3 South America Remittance Software Market Breakdown by Key Countries 107
10.6.3.1 Brazil Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 108
10.6.4 South America Remittance Software Market Breakdown by Software 109
10.6.5 South America Remittance Software Market Breakdown by Deployment Type 110
10.6.6 South America Remittance Software Market Breakdown by Application 111
11 Industry Landscape 113
11.1 Market Initiatives 113
11.2 Merger & Acquisitions 115
11.3 Investment Scenario 116
12 Competitive Landscape 117
12.1 Competitive Product Mapping 117
12.2 Market Positioning – Global Top 5 Players Ranking 119
13 Global Remittance Software Market – Key Company Profiles 120
13.1 ControlBox Corp. 120
13.1.1 Key Facts 120
13.1.2 Business Description 120
13.1.3 Financial Overview 121
13.1.4 SWOT Analysis 121
13.1.5 Key Developments 122
13.2 Daemon Enterprise Private Limited 123
13.2.1 Key Facts 123
13.2.2 Business Description 123
13.2.3 Financial Overview 124
13.2.4 SWOT Analysis 124
13.2.5 Key Developments 125
13.3 FinCode Ltd. 126
13.3.1 Key Facts 126
13.3.2 Business Description 126
13.3.3 Financial Overview 127
13.3.4 SWOT Analysis 127
13.3.5 Key Developments 129
13.4 Fiserv, Inc. 130
13.4.1 Key Facts 130
13.4.2 Business Description 130
13.4.3 Financial Overview 131
13.4.4 SWOT Analysis 132
13.4.5 Key Developments 134
13.5 Girmiti Software Pvt. Ltd. 135
13.5.1 Key Facts 135
13.5.2 Business Description 135
13.5.3 Financial Overview 135
13.5.4 SWOT Analysis 136
13.5.5 Key Developments 137
13.6 Grey Systems 138
13.6.1 Key Facts 138
13.6.2 Business Description 138
13.6.3 Financial Overview 138
13.6.4 SWOT Analysis 139
13.6.5 Key Developments 140
13.7 White Wings Technologies (MTS) 141
13.7.1 Key Facts 141
13.7.2 Business Description 141
13.7.3 Financial Overview 141
13.7.4 SWOT Analysis 142
13.7.5 Key Developments 143
13.8 Xoom (PayPal Holdings, Inc.) 144
13.8.1 Key Facts 144
13.8.2 Business Description 144
13.8.3 Financial Overview 145
13.8.4 SWOT Analysis 146
13.8.5 Key Developments 148
13.9 RemitOne Ltd 149
13.9.1 Key Facts 149
13.9.2 Business Description 149
13.9.3 Financial Overview 150
13.9.4 SWOT Analysis 150
13.9.5 Key Developments 151
13.1 World Remit 153
13.10.1 Key Facts 153
13.10.2 Business Description 153
13.10.3 Financial Overview 153
13.10.4 SWOT Analysis 154
13.10.5 Key Developments 155
14 Appendix 157
14.1 About The Insight Partners 157
14.2 Glossary of Terms 158
14.3 Methodology 160
14.3.1 Coverage 160
14.3.2 Secondary Research 160
14.3.3 Primary Research 161
14.4 Contact Us 162
14.5 Disclaimer 162
1.1 List of Tables
Table 1: Global Remittance Software Market Revenue and Forecasts to 2025 (US$ Bn) 45
Table 2: North America Remittance Software Market Revenue and Forecasts to 2025 – By Software (US$ Mn) 66
Table 3: North America Remittance Software Market Revenue and Forecasts to 2025 – By Deployment Type (US$ Mn) 67
Table 4: North America Remittance Software Market Revenue and Forecasts to 2025 – By Application (US$ Mn) 69
Table 5: Europe Remittance Software Market Revenue and Forecasts to 2025 – By Software (US$ Mn) 79
Table 6: Europe Remittance Software Market Revenue and Forecasts to 2025 – By Deployment Type (US$ Mn) 80
Table 7: Europe Remittance Software Market Revenue and Forecasts to 2025 – By Application (US$ Mn) 81
Table 8: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 – By Software (US$ Mn) 91
Table 9: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 – By Deployment Type (US$ Mn) 92
Table 10: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 – By Application (US$ Mn) 94
Table 11: Middle East and Africa Remittance Software Market Revenue and Forecasts to 2025 – By Software (US$ Mn) 101
Table 12: Middle East and Africa Remittance Software Market Revenue and Forecasts to 2025 – By Deployment Type (US$ Mn) 102
Table 13: Middle East and Africa Remittance Software Market Revenue and Forecasts to 2025 – By Application (US$ Mn) 104
Table 14: South America Remittance Software Market Revenue and Forecasts to 2025 – By Software (US$ Mn) 109
Table 15: South America Remittance Software Market Revenue and Forecasts to 2025 – By Deployment Type (US$ Mn) 110
Table 16: South America Remittance Software Market Revenue and Forecasts to 2025 – By Application (US$ Mn) 112
Table 17: Glossary of Terms, Remittance Software Market 158
1.2 List of Figures
Figure 1: Remittance Software Market, South America Revenue for App based Software (US$ Mn), 2017 & 2025 17
Figure 2: APAC Remittance Software Market, Global Revenue (US$ Mn), 2016 & 2025 18
Figure 3: Remittance Software Market Segmentation 21
Figure 4: Remittance Software Market Segmentation 22
Figure 6: North America PEST Analysis 25
Figure 7: Europe PEST Analysis 27
Figure 8: APAC PEST Analysis 30
Figure 9: MEA PEST Analysis 33
Figure 10: SAM PEST Analysis 36
Figure 10: Remittance Software Market Impact Analysis of Driver and Restraints 43
Figure 11: Global Remittance Software Market 44
Figure 12: Global Remittance Software Market Breakdown By Software, 2017 & 2025 (%) 46
Figure 13: Global Web-Based Software Market Revenue and Forecasts to 2025 (US$ Mn) 48
Figure 14: Global Application Based Software Market Revenue and Forecasts to 2025 (US$ Mn) 50
Figure 15: Global Remittance Software Market Breakdown By Deployment Type, 2017 & 2025 (%) 51
Figure 16: Global On-Premise Deployment Market Revenue and Forecasts to 2025 (US$ Mn) 52
Figure 17: Global Cloud Deployment Type Market Revenue and Forecasts to 2025 (US$ Mn) 54
Figure 18: Global Remittance Software Market Breakdown By Application, 2017 & 2025 (%) 55
Figure 19: Global Personal Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 56
Figure 20: Global Business Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 57
Figure 21: Global Public Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 58
Figure 22: Remittance Software Market, Global Breakdown by Regions, 2017 & 2025 (%) 59
Figure 23: North America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 61
Figure 24: North America Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%) 62
Figure 25: U.S. Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 63
Figure 26: Canada Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 64
Figure 27: Mexico Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 65
Figure 28: North America Remittance Software Market Breakdown by Software, 2017 & 2025 (%) 66
Figure 29: North America Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%) 67
Figure 30: North America Remittance Software Market Breakdown by Application, 2017 & 2025 (%) 68
Figure 31: Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 71
Figure 32: Europe Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%) 72
Figure 33: France Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 73
Figure 34: Germany Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 74
Figure 35: Italy Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 75
Figure 36: Spain Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 76
Figure 37: UK Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 77
Figure 38: Rest of Europe Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 78
Figure 39: Europe Remittance Software Market Breakdown by Software, 2017 & 2025 (%) 79
Figure 40: Europe Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%) 80
Figure 41: Europe Remittance Software Market Breakdown by Application, 2017 & 2025 (%) 81
Figure 42: Asia Pacific Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 84
Figure 43: Asia Pacific Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%) 85
Figure 44: Japan Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 86
Figure 45: China Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 87
Figure 46: India Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 88
Figure 47: Australia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 89
Figure 48: Rest of APAC Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 90
Figure 49: Asia Pacific Remittance Software Market Breakdown by Software, 2017 & 2025 (%) 91
Figure 50: Asia Pacific Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%) 92
Figure 51: Asia Pacific Remittance Software Market Breakdown by Application, 2017 & 2025 (%) 93
Figure 52: Middle East & Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 96
Figure 53: Middle East & Africa Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%) 97
Figure 54: Saudi Arabia Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 98
Figure 55: UAE Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 99
Figure 56: South Africa Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 100
Figure 57: Middle East and Africa Remittance Software Market Breakdown by Software, 2017 & 2025 (%) 101
Figure 58: Middle East and Africa Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%) 102
Figure 59: Middle East and Africa Remittance Software Market Breakdown by Application, 2017 & 2025 (%) 103
Figure 60: South America Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 106
Figure 61: South America Remittance Software Market Breakdown by Key Countries, 2017 & 2025 (%) 107
Figure 62: Brazil Remittance Software Market Revenue and Forecasts to 2025 (US$ Mn) 108
Figure 63: South America Remittance Software Market Breakdown by Software, 2017 & 2025 (%) 109
Figure 64: South America Remittance Software Market Breakdown by Deployment Type, 2017 & 2025 (%) 110
Figure 65: South America Remittance Software Market Breakdown by Application, 2017 & 2025 (%) 111
The List Companies - Remittance Software Market
1. Remit One Ltd.
2. Remit Anywhere
3. FinCode Ltd.
4. MTS
5. Girmiti Software Private Limited
6. Grey Systems
7. ControlBox Corp
8. NextGen Systems UK Limited
9. Fiserv, Inc.
10. Daemon Software.
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)