Artificial Intelligence Ai In Medical Imaging Market
Artificial Intelligence (AI) in Medical Imaging Market Forecasts to 2030 - Global Analysis By Deployment Mode (On-Premise and Cloud Based), Solution (Software Tools/ Platform and Services), Technology (Deep Learning, Natural Language Processing (NLP) and Other Technologies), Imaging Mode, Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1.77 BN |
|
Projected Year Value (2030) |
US $10.25 BN |
|
CAGR (2023-2030) |
28.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Artificial Intelligence (AI) in Medical Imaging Market is accounted for $1.77 billion in 2023 and is expected to reach $10.25 billion by 2030 growing at a CAGR of 28.5% during the forecast period. Artificial intelligence (AI) in medical imaging refers to the application of AI techniques to a variety of imaging modalities, including ultrasound, computed tomography (CT), magnetic resonance imaging (MRI), and X-rays, to improve and automate the processing of medical images. It involves analyzing and extracting significant information from medical images using sophisticated algorithms and machine learning models in order to aid in the recognition, diagnosis, and treatment of a variety of illnesses and ailments.
According to the American Cancer Society, a total of 236,740 new cases of lung and bronchus cancer are estimated this year in the United States.
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Market Dynamics:
Driver:
Increase in AI-Powered medical imaging start-ups
The market for medical imaging is being driven by AI in the current scenario. This is because the software gives doctors a benefit by making it possible for them to diagnose illnesses much more quickly and enable earlier intervention. Additionally, new AI-driven start-ups are putting an emphasis on and adding sophisticated features to AI medical imaging solutions. To advance AI in medical imaging, it is also necessary to increase funding and investment in the field. For instance, Lithuania's oxipit.ai raised USD 4.9 million in funding in January 2023 to develop fully autonomous AI medical imaging and broaden the market in new regions. Thus, market growth is being driven by the rising number of AI-driven start-ups globally and the rising funding for the development of fully autonomous AI medical imaging tools.
Restraint:
Increasing cost of AI in medical imaging
The market's growth is constrained by the high cost of various artificial intelligence techniques used in medical imaging samples and other equipment for diagnosing many diseases. The majority of hospitals and research institutions in underdeveloped and developing nations are currently unable to afford the higher costs associated with the R&D of artificial intelligence in medical imaging. These factors thus inhibit market growth.
Opportunity:
Implementation of AI-based computer vision models in healthcare
In the upcoming years, it is anticipated that advanced AI tools and technology will significantly change the healthcare and radiology industries. Companies involved in the current AI in the medical imaging industry anticipate that the adoption of AI in the medical field, particularly in radiology, will present a wide range of opportunities. Moreover, the growing disparity between the rising number of scans and the number of available radiologists who can read data is a major factor that will aid in the adoption of AI in the medical imaging market.
Threat:
Security concerns and stringent regulations
Data breaches or unauthorized access to patient data could hinder the widespread use of AI in the medical imaging industry. Finding a balance between data accessibility and privacy will be difficult for market participants. Additionally, AI must adhere to rules and legal requirements before it can be used in medical imaging. Strict regulations, such as those set forth by governing bodies and medical device authorities, must be followed in the development and application of AI algorithms for medical applications. Such aspects limit the market from expanding.
Covid-19 Impact:
The COVID-19 pandemic has had a significant impact on nearly every industry worldwide, with the exception of healthcare. The primary area in the healthcare sector where AI-enabled solutions are being developed is medical imaging. Due to the widespread use of COVID-19 for imaging infectious and lung diseases, radiology has seen a significant increase in use in many hospitals. A strong correlation exists between the pandemic and the increased demand for technology and digital solutions. The impact of COVID-19 technology could be very positive in the medium to long term.
The X-rays segment is expected to be the largest during the forecast period
During the forecast period, the X-ray segment is anticipated to hold the largest market share. The demand for AI in X-ray modalities has increased due to its high accuracy. Radiologists can now experience immersive and interactive experiences thanks to the integration of AR and VR technologies with X-ray imaging. X-ray images can now be seen in three dimensions by medical professionals, who can also overlay anatomical details or simulate procedures for preoperative planning. Moreover, these tools can facilitate more accurate interpretations and improve spatial comprehension, which would accelerate segment progression.
The breast screening segment is expected to have the highest CAGR during the forecast period
It is anticipated that during the forecast period, the breast screening segment will expand at the highest rate. The demand for breast screening is being driven by the increase in breast cancer cases and patients' desires for an early-stage diagnosis, which aids in receiving the proper treatment as soon as possible. Furthermore, government initiatives that support clinical interpretation and expanded access to breast cancer screening technologies are two additional major factors that are anticipated to fuel segment expansion.
Region with largest share:
Due to the technologically sophisticated infrastructure and high per capita income, North America dominated the market in 2022 and is predicted to dominate over the forecast period. The market for AI in medical imaging is being driven by the presence of numerous market players and favorable government regulations in the area. In addition, the region's research organizations and healthcare institutions are making significant investments in AI. Furthermore, a strong presence of major industry players and a thriving healthcare infrastructure are fostering regional growth in this region.
Region with highest CAGR:
Due to the widespread adoption of cutting-edge technologies, improved network connectivity, and expanded government initiatives, Asia Pacific is anticipated to experience the highest growth rate. The exponential growth in investment, the rise in artificial intelligence (AI)-using startups, particularly in China and India, and the enormous potential for AI to close the region's healthcare infrastructure gap by enhancing image quality are additional motivating factors. These technologies also have a high clinical value, which is promoting market growth.
Key players in the market
Some of the key players in Artificial Intelligence (AI) in Medical Imaging market include 1QB Information Technology, Agfa-Gevaert Group, Arterys Inc, AZmed, BenevolentAI, BioXcel, Therapeutics Inc, Butterfly Network, Caption Health, CellmatiQ, dentalXrai, Digital Diagnostics, EchoNous, Enlitic, Inc, GE Healthcare, Gleamer, HeartVista, IBM Watson Health, K Health, Koninklijke Philips, mPulse Mobile, Nanox Imaging, OrCam, Owkin Inc., Siemens Healthineers AG, Suki AI, Inc, Ultromics, Viz.ai, Inc, ZealthLife technologies Pte. Ltd and Zebra Medical Vision.
Key Developments:
In October 2023, BioXcel Therapeutics, Inc., a biopharmaceutical company utilizing artificial intelligence approaches to develop transformative medicines in neuroscience, today provided an update on recent developments with its late-stage clinical programs as well as its patent portfolio for IGALMI™ (dexmedetomidine) sublingual film. These developments include meetings scheduled with the U.S. Food and Drug Administration (FDA) to discuss the TRANQUILITY and SERENITY III clinical programs and the receipt of two Notices of Allowance (NOAs) from the U.S. Patent and Trademark Office to extend method of use patent protection for sublingual dexmedetomidine.
In August 2023, Butterfly Network, Inc. a digital health company transforming care through the power of portable, semiconductor-based ultrasound technology and intuitive software, announced the release of its software development kit (SDK) for use by third parties. The kit will allow developers to utilize Butterfly’s platform to build custom applications that can be commercialized to Butterfly’s customer base – the largest user network in handheld point-of-care ultrasound.1 The Company ultimately plans to open “Butterfly Garden,” an AI Marketplace where new apps will be hosted for Butterfly users to discover and purchase the latest AI capabilities.
In April 2023, AGFA HealthCare, a leading provider of Enterprise Imaging solutions, is proud to announce that it has joined the Amazon Web Services (AWS) Partner Network (APN) to scale up the global availability of AGFA Enterprise Imaging (AGFA EI) VNA and XERO® Universal Viewer on the cloud. The APN is a global community of AWS Partners that leverage programs, expertise, and resources to build, market, and sell customer offerings.
Deployment Modes Covered:
• On-Premise
• Cloud Based
Solutions Covered:
• Software Tools/ Platform
• Services
Technologies Covered:
• Deep Learning
• Natural Language Processing (NLP)
• Other Technologies
Imaging Modes Covered:
• Computed tomography (CT) Scan
• Magnetic Resonance Imaging (MRI)
• Molecular Imaging
• Nuclear Imaging
• Ultrasound Imaging
• X-rays
• Other Imaging Modes
Applications Covered:
• Neurology
• Respiratory and Pulmonary
• Cardiology
• Breast Screening
• Pathology
• Oral Diagnostics
• Orthopedics
• Other Applications
End Users Covered:
• Clinics
• Diagnostic Imaging Centers
• Hospitals
• Research Laboratories
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Artificial Intelligence (AI) in Medical Imaging Market, By Deployment Mode
5.1 Introduction
5.2 On-Premise
5.3 Cloud Based
6 Global Artificial Intelligence (AI) in Medical Imaging Market, By Solution
6.1 Introduction
6.2 Software Tools/ Platform
6.3 Services
6.3.1 Integration
6.3.2 Deployment
7 Global Artificial Intelligence (AI) in Medical Imaging Market, By Technology
7.1 Introduction
7.2 Deep Learning
7.3 Natural Language Processing (NLP)
7.4 Other Technologies
8 Global Artificial Intelligence (AI) in Medical Imaging Market, By Imaging Mode
8.1 Introduction
8.2 Computed tomography (CT) Scan
8.3 Magnetic Resonance Imaging (MRI)
8.4 Molecular Imaging
8.5 Nuclear Imaging
8.6 Ultrasound Imaging
8.7 X-rays
8.8 Other Imaging Modes
9 Global Artificial Intelligence (AI) in Medical Imaging Market, By Application
9.1 Introduction
9.2 Neurology
9.3 Respiratory and Pulmonary
9.4 Cardiology
9.5 Breast Screening
9.6 Pathology
9.7 Oral Diagnostics
9.8 Orthopedics
9.9 Other Applications
10 Global Artificial Intelligence (AI) in Medical Imaging Market, By End User
10.1 Introduction
10.2 Clinics
10.3 Diagnostic Imaging Centers
10.4 Hospitals
10.5 Research Laboratories
10.6 Other End Users
11 Global Artificial Intelligence (AI) in Medical Imaging Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 1QB Information Technology
13.2 Agfa-Gevaert Group
13.3 Arterys Inc
13.4 AZmed
13.5 BenevolentAI
13.6 BioXcel Therapeutics Inc
13.7 Butterfly Network
13.8 Caption Health
13.9 CellmatiQ
13.10 dentalXrai
13.11 Digital Diagnostics
13.12 EchoNous
13.13 Enlitic, Inc
13.14 GE Healthcare
13.15 Gleamer
13.16 HeartVista
13.17 IBM Watson Health
13.18 K Health
13.19 Koninklijke Philips
13.20 mPulse Mobile
13.21 Nanox Imaging
13.22 OrCam
13.23 Owkin Inc.
13.24 Siemens Healthineers AG
13.25 Suki AI, Inc
13.26 Ultromics
13.27 Viz.ai, Inc
13.28 ZealthLife technologies Pte. Ltd
13.29 Zebra Medical Vision
List of Tables
1 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Region (2021-2030) ($MN)
2 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Deployment Mode (2021-2030) ($MN)
3 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By On-Premise (2021-2030) ($MN)
4 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Cloud Based (2021-2030) ($MN)
5 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Solution (2021-2030) ($MN)
6 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Software Tools/ Platform (2021-2030) ($MN)
7 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Services (2021-2030) ($MN)
8 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Integration (2021-2030) ($MN)
9 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Deployment (2021-2030) ($MN)
10 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Technology (2021-2030) ($MN)
11 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Deep Learning (2021-2030) ($MN)
12 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Natural Language Processing (NLP) (2021-2030) ($MN)
13 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Other Technologies (2021-2030) ($MN)
14 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Imaging Mode (2021-2030) ($MN)
15 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Computed tomography (CT) Scan (2021-2030) ($MN)
16 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Magnetic Resonance Imaging (MRI) (2021-2030) ($MN)
17 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Molecular Imaging (2021-2030) ($MN)
18 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Nuclear Imaging (2021-2030) ($MN)
19 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Ultrasound Imaging (2021-2030) ($MN)
20 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By X-rays (2021-2030) ($MN)
21 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Other Imaging Modes (2021-2030) ($MN)
22 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Application (2021-2030) ($MN)
23 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Neurology (2021-2030) ($MN)
24 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Respiratory and Pulmonary (2021-2030) ($MN)
25 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Cardiology (2021-2030) ($MN)
26 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Breast Screening (2021-2030) ($MN)
27 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Pathology (2021-2030) ($MN)
28 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Oral Diagnostics (2021-2030) ($MN)
29 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Orthopedics (2021-2030) ($MN)
30 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Other Applications (2021-2030) ($MN)
31 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By End User (2021-2030) ($MN)
32 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Clinics (2021-2030) ($MN)
33 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Diagnostic Imaging Centers (2021-2030) ($MN)
34 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Hospitals (2021-2030) ($MN)
35 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Research Laboratories (2021-2030) ($MN)
36 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
List of Figures
Figure 1 Global Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 2 North America Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 3 US Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 4 Canada Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 6 Europe Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 7 Germany Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 8 UK Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 9 Italy Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 10 France Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 11 Spain Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 14 Japan Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 15 China Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 16 India Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 17 Australia Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 21 South America Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 24 Chile Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 28 UAE Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Artificial Intelligence (AI) in Medical Imaging Market Outlook (2021-2030) ($MN)
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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