Tax Compliance Software Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Tax Compliance Software Market covers analysis By Product Type (Direct tax compliance software, Indirect tax compliance software); Application (Small and Medium Enterprises, Large Enterprises); Deployment Type (Cloud-based, On-premises) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00017065
  • Category : Technology, Media and Telecommunications
  • Status : Upcoming
  • No. of Pages : 150
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MARKET INTRODUCTION

Tax compliance software provides organizations with exact local and federal tax calculations and automates the filing and reporting of tax forms. Leading tax compliance vendors offer separate applications to manage particular types of transactions and their associated taxes.

MARKET DYNAMICS

In various industries, customer support teams, business owners, accounting teams, and e-commerce administrators use sales tax compliance products to oversee tax collection and filing, also known as indirect tax, for all sales transactions. This includes the adjustment of sales tax prices for certain products, customers, or where necessary, occasions such as sales tax holidays or after the change of circumstances of a customer, together with any update to official regulations when new legislation is passed. Proper use of these tools will significantly reduce the effort to track customer and rate data and minimize the risk of any oversight that could lead to customer dissatisfaction, lack of funds, or legal consequences.

MARKET SCOPE

The "Global Tax Compliance Software Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The tax compliance software market report aims to provide an overview of the tax compliance software market with detailed market segmentation by product type, application, deployment type, and geography. The global tax compliance software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading tax compliance software market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global tax compliance software market is segmented on the basis of product type, application, and deployment type. Based on product type, the tax compliance software market is segmented into: Direct tax compliance software and Indirect tax compliance software. On the basis of application, the tax compliance software market is segmented into: Small and Medium Enterprises and Large Enterprises. Based on deployment type, the tax compliance software market is segmented into: Cloud-based and On-premises.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global tax compliance software market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The tax compliance software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the tax compliance software market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the tax compliance software market in these regions.

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MARKET PLAYERS


The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global tax compliance software market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The tax compliance software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the tax compliance software market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the tax compliance software market in these regions.

MARKET PLAYERS

The reports cover key developments in the tax compliance software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from tax compliance software market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the tax compliance software market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the tax compliance software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

  •   Avalara, Inc.
  •   Canopy Tax, Inc.
  •   H&R Block
  •   Intuit, Inc.
  •   Paddle
  •   Sovos Compliance, LLC.
  •   TaxJar
  •   Thomson Reuters
  •   Vertex, Inc.
  •   Xero Limited

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
  • 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
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

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 Tax Compliance Software Market - By Product Type
1.3.2 Tax Compliance Software Market - By Application
1.3.3 Tax Compliance Software Market - By Deployment Type
1.3.4 Tax Compliance Software Market - By Region
1.3.4.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. TAX COMPLIANCE SOFTWARE 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. TAX COMPLIANCE SOFTWARE 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. TAX COMPLIANCE SOFTWARE MARKET - GLOBAL MARKET ANALYSIS
6.1. TAX COMPLIANCE SOFTWARE - GLOBAL MARKET OVERVIEW
6.2. TAX COMPLIANCE SOFTWARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE

7. TAX COMPLIANCE SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. DIRECT TAX COMPLIANCE SOFTWARE
7.3.1. Overview
7.3.2. Direct tax compliance software Market Forecast and Analysis
7.4. INDIRECT TAX COMPLIANCE SOFTWARE
7.4.1. Overview
7.4.2. Indirect tax compliance software Market Forecast and Analysis
8. TAX COMPLIANCE SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. SMALL AND MEDIUM ENTERPRISES
8.3.1. Overview
8.3.2. Small and Medium Enterprises Market Forecast and Analysis
8.4. LARGE ENTERPRISES
8.4.1. Overview
8.4.2. Large Enterprises Market Forecast and Analysis
9. TAX COMPLIANCE SOFTWARE MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT TYPE
9.1. OVERVIEW
9.2. DEPLOYMENT TYPE MARKET FORECASTS AND ANALYSIS
9.3. CLOUD-BASED
9.3.1. Overview
9.3.2. Cloud-based Market Forecast and Analysis
9.4. ON-PREMISES
9.4.1. Overview
9.4.2. On-premises Market Forecast and Analysis

10. TAX COMPLIANCE SOFTWARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Tax Compliance Software Market Overview
10.1.2 North America Tax Compliance Software Market Forecasts and Analysis
10.1.3 North America Tax Compliance Software Market Forecasts and Analysis - By Product Type
10.1.4 North America Tax Compliance Software Market Forecasts and Analysis - By Application
10.1.5 North America Tax Compliance Software Market Forecasts and Analysis - By Deployment Type
10.1.6 North America Tax Compliance Software Market Forecasts and Analysis - By Countries
10.1.6.1 United States Tax Compliance Software Market
10.1.6.1.1 United States Tax Compliance Software Market by Product Type
10.1.6.1.2 United States Tax Compliance Software Market by Application
10.1.6.1.3 United States Tax Compliance Software Market by Deployment Type
10.1.6.2 Canada Tax Compliance Software Market
10.1.6.2.1 Canada Tax Compliance Software Market by Product Type
10.1.6.2.2 Canada Tax Compliance Software Market by Application
10.1.6.2.3 Canada Tax Compliance Software Market by Deployment Type
10.1.6.3 Mexico Tax Compliance Software Market
10.1.6.3.1 Mexico Tax Compliance Software Market by Product Type
10.1.6.3.2 Mexico Tax Compliance Software Market by Application
10.1.6.3.3 Mexico Tax Compliance Software Market by Deployment Type
10.2. EUROPE
10.2.1 Europe Tax Compliance Software Market Overview
10.2.2 Europe Tax Compliance Software Market Forecasts and Analysis
10.2.3 Europe Tax Compliance Software Market Forecasts and Analysis - By Product Type
10.2.4 Europe Tax Compliance Software Market Forecasts and Analysis - By Application
10.2.5 Europe Tax Compliance Software Market Forecasts and Analysis - By Deployment Type
10.2.6 Europe Tax Compliance Software Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Tax Compliance Software Market
10.2.6.1.1 Germany Tax Compliance Software Market by Product Type
10.2.6.1.2 Germany Tax Compliance Software Market by Application
10.2.6.1.3 Germany Tax Compliance Software Market by Deployment Type
10.2.6.2 France Tax Compliance Software Market
10.2.6.2.1 France Tax Compliance Software Market by Product Type
10.2.6.2.2 France Tax Compliance Software Market by Application
10.2.6.2.3 France Tax Compliance Software Market by Deployment Type
10.2.6.3 Italy Tax Compliance Software Market
10.2.6.3.1 Italy Tax Compliance Software Market by Product Type
10.2.6.3.2 Italy Tax Compliance Software Market by Application
10.2.6.3.3 Italy Tax Compliance Software Market by Deployment Type
10.2.6.4 United Kingdom Tax Compliance Software Market
10.2.6.4.1 United Kingdom Tax Compliance Software Market by Product Type
10.2.6.4.2 United Kingdom Tax Compliance Software Market by Application
10.2.6.4.3 United Kingdom Tax Compliance Software Market by Deployment Type
10.2.6.5 Russia Tax Compliance Software Market
10.2.6.5.1 Russia Tax Compliance Software Market by Product Type
10.2.6.5.2 Russia Tax Compliance Software Market by Application
10.2.6.5.3 Russia Tax Compliance Software Market by Deployment Type
10.2.6.6 Rest of Europe Tax Compliance Software Market
10.2.6.6.1 Rest of Europe Tax Compliance Software Market by Product Type
10.2.6.6.2 Rest of Europe Tax Compliance Software Market by Application
10.2.6.6.3 Rest of Europe Tax Compliance Software Market by Deployment Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Tax Compliance Software Market Overview
10.3.2 Asia-Pacific Tax Compliance Software Market Forecasts and Analysis
10.3.3 Asia-Pacific Tax Compliance Software Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Tax Compliance Software Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Tax Compliance Software Market Forecasts and Analysis - By Deployment Type
10.3.6 Asia-Pacific Tax Compliance Software Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Tax Compliance Software Market
10.3.6.1.1 Australia Tax Compliance Software Market by Product Type
10.3.6.1.2 Australia Tax Compliance Software Market by Application
10.3.6.1.3 Australia Tax Compliance Software Market by Deployment Type
10.3.6.2 China Tax Compliance Software Market
10.3.6.2.1 China Tax Compliance Software Market by Product Type
10.3.6.2.2 China Tax Compliance Software Market by Application
10.3.6.2.3 China Tax Compliance Software Market by Deployment Type
10.3.6.3 India Tax Compliance Software Market
10.3.6.3.1 India Tax Compliance Software Market by Product Type
10.3.6.3.2 India Tax Compliance Software Market by Application
10.3.6.3.3 India Tax Compliance Software Market by Deployment Type
10.3.6.4 Japan Tax Compliance Software Market
10.3.6.4.1 Japan Tax Compliance Software Market by Product Type
10.3.6.4.2 Japan Tax Compliance Software Market by Application
10.3.6.4.3 Japan Tax Compliance Software Market by Deployment Type
10.3.6.5 South Korea Tax Compliance Software Market
10.3.6.5.1 South Korea Tax Compliance Software Market by Product Type
10.3.6.5.2 South Korea Tax Compliance Software Market by Application
10.3.6.5.3 South Korea Tax Compliance Software Market by Deployment Type
10.3.6.6 Rest of Asia-Pacific Tax Compliance Software Market
10.3.6.6.1 Rest of Asia-Pacific Tax Compliance Software Market by Product Type
10.3.6.6.2 Rest of Asia-Pacific Tax Compliance Software Market by Application
10.3.6.6.3 Rest of Asia-Pacific Tax Compliance Software Market by Deployment Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Tax Compliance Software Market Overview
10.4.2 Middle East and Africa Tax Compliance Software Market Forecasts and Analysis
10.4.3 Middle East and Africa Tax Compliance Software Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Tax Compliance Software Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Tax Compliance Software Market Forecasts and Analysis - By Deployment Type
10.4.6 Middle East and Africa Tax Compliance Software Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Tax Compliance Software Market
10.4.6.1.1 South Africa Tax Compliance Software Market by Product Type
10.4.6.1.2 South Africa Tax Compliance Software Market by Application
10.4.6.1.3 South Africa Tax Compliance Software Market by Deployment Type
10.4.6.2 Saudi Arabia Tax Compliance Software Market
10.4.6.2.1 Saudi Arabia Tax Compliance Software Market by Product Type
10.4.6.2.2 Saudi Arabia Tax Compliance Software Market by Application
10.4.6.2.3 Saudi Arabia Tax Compliance Software Market by Deployment Type
10.4.6.3 U.A.E Tax Compliance Software Market
10.4.6.3.1 U.A.E Tax Compliance Software Market by Product Type
10.4.6.3.2 U.A.E Tax Compliance Software Market by Application
10.4.6.3.3 U.A.E Tax Compliance Software Market by Deployment Type
10.4.6.4 Rest of Middle East and Africa Tax Compliance Software Market
10.4.6.4.1 Rest of Middle East and Africa Tax Compliance Software Market by Product Type
10.4.6.4.2 Rest of Middle East and Africa Tax Compliance Software Market by Application
10.4.6.4.3 Rest of Middle East and Africa Tax Compliance Software Market by Deployment Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Tax Compliance Software Market Overview
10.5.2 South and Central America Tax Compliance Software Market Forecasts and Analysis
10.5.3 South and Central America Tax Compliance Software Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Tax Compliance Software Market Forecasts and Analysis - By Application
10.5.5 South and Central America Tax Compliance Software Market Forecasts and Analysis - By Deployment Type
10.5.6 South and Central America Tax Compliance Software Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Tax Compliance Software Market
10.5.6.1.1 Brazil Tax Compliance Software Market by Product Type
10.5.6.1.2 Brazil Tax Compliance Software Market by Application
10.5.6.1.3 Brazil Tax Compliance Software Market by Deployment Type
10.5.6.2 Argentina Tax Compliance Software Market
10.5.6.2.1 Argentina Tax Compliance Software Market by Product Type
10.5.6.2.2 Argentina Tax Compliance Software Market by Application
10.5.6.2.3 Argentina Tax Compliance Software Market by Deployment Type
10.5.6.3 Rest of South and Central America Tax Compliance Software Market
10.5.6.3.1 Rest of South and Central America Tax Compliance Software Market by Product Type
10.5.6.3.2 Rest of South and Central America Tax Compliance Software Market by Application
10.5.6.3.3 Rest of South and Central America Tax Compliance Software Market by Deployment 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. TAX COMPLIANCE SOFTWARE MARKET, KEY COMPANY PROFILES
12.1. AVALARA, INC.
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. CANOPY TAX, 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. HANDR BLOCK
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. INTUIT, INC.
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. PADDLE
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. SOVOS COMPLIANCE, LLC.
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. TAXJAR
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. THOMSON REUTERS
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. VERTEX, INC. 
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. XERO LIMITED
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. Avalara, Inc.
2. Canopy Tax, Inc. 
3. HandR Block
4. Intuit, Inc.
5. Paddle
6. Sovos Compliance, LLC.
7. TaxJar
8. Thomson Reuters
9. Vertex, Inc. 
10. Xero Limited

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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