Research Methodology

Our Research Process Flow

Blend of Secondary Research, Primary Research, Subject Matter Experts, and Research Partners

Our ability to follow a strict research process along witha blend of Primary Research, Secondary Research, Subject Matter Experts, and Research Partners sets us apart from other businesses, bridging the gap between traditional market research firms and big consulting organizations.

Our Data Collection Technique

SECONDARY RESEARCH

Secondary research is frequently used to establish a baseline of information about competitors, markets, and products quickly and efficiently. While the information is open to the public and generally less granular than primary research, it is cost-effective to identify knowledge gaps, key issues and trends, and potential sources for primary research. We have access to many relevant industry databases and research tools for our secondary databases. In addition to databases, data collection involves gathering available market statistics of the historical and current periods from trusted sources such as company websites, company published financials, industry associations, business directories, industry magazines, and others. These sources of information provide a low-cost early warning system while also assisting primary research efforts.

Secondary Data Sources:

PRIMARY RESEARCH

While there are numerous ways to gather Competitive Intelligence (CI) data, we specialize in primary research. Primary research focuses on gathering information directly from stakeholders knowledgeable about the subject matter.
We have a proprietary system and strategy to maintain Key Primary Survey Respondents through CRM. It is a system where critical primary respondents are identified and combined with the CRM (Customer Relationship Management) system to maintain a database.
This allows us to maintain relationships with sources even when we are not working in the source’s technical or business area. It also allows us to improve the accuracy of our market intelligence.

Primary Data Sources:

Our Market Estimation Technique

BOTTOM-UP AND TOP-DOWN APPROACH

The bottom-up methodology is used for tracking the supply-side and demand-side, whereas the top-down method tracks demand. The market estimation is carried out by analyzing secondary and primary research data. This procedure entails a market breakdown and a bottom-up and top-down approach.

HYPOTHESIS GENERATION

The analysis is conducted on current market demand/size analysis, potential growth projections of products in focus, and the critical applications generated by this demand. This analysis is performed at a global, regional, and countrylevel.

Segment		Global	Regional	Country
Application	End-Use Industry	xx	xx	xx
	Sales	xx	xx	xx
	Production	xx	xx	xx
Products	Technology	xx	xx	xx
	Product Type	xx	xx	xx
	Product Grade	xx	xx	xx

Based on the global, regional, and country-level mapping, detailed scenario analysis of the relevant segments is built and formulated to arrive at the initial estimation indicators. Based on a hypothesis of the collected information about the product’s usage rate, penetration, parent market overview, end-user demand scenario, supply vs. demand gap, and the growth potential of the end-use/application sectors, the estimated market size and shares by individual segments, and the future growth perspectives are formulated and tested for suitability.

Data Audit and Data Correction

Our in-house team of subject matter experts and our research partners conduct a series of data audits and corrections to improve the quality and make the data in line with the actual market scenario. The inputs from our research partners and brainstorming sections with the subject matter experts leave no space for any error in the market data.

This helps us to provide our clients most accurate and real market data and insights.

Developing Projections

Market Projections for each segmentare based on the industry’s historical and anticipated performance, end-use/application sectors, and macro-economic factors.

HISTORICAL TRENDS

The information gathered from secondary sources and industry experts aids us in identifying historical market trends. We can identify current base estimates and year-on-year trends by superimposing these trends on the present market scenario. It also assists us in analyzing future market opportunities and market penetration rates of various products across different regions. Furthermore, the insights give us a better understanding of the current consumer base, regulatory framework, and technological trends in the market, which helps us provide market estimates.

MACRO PARAMETERS AND FORECAST FACTORS

While estimating the market size and focusing on market variables, we believe that equal emphasis should be given to the macroeconomic parameters and forecast factors. Key macroeconomic indicators and forecast factors considered in our analysis include:

These indicators impact market profitability, investment trends, and the competitive landscape. Thus, they provide crucial insights into the health of an industry and economy. Applyingour proprietary statistical analysis tools to these parameters helps us conduct market forecasting and behavioral analysis at global, regional, and country levels.

Data Triangulation

The data triangulation process involves cross-checking the collected and analyzed data from each point, such as the supply and demand sides. The competitive scenario is also investigated to identify key companies that supply the product and determine the degree of fragmentation or consolidation. The data triangulation and market breakdown processes were used wherever applicable to complete the overall market estimation process and obtain accurate statistics for each market segment and sub-segment. Furthermore, a comprehensive statistical time series model was developed while forecasting the market. Macroeconomic and forecast factors/indicators were considered to comprehend the market’s current trends.