Cloud Database Market
Cloud database Market Forecasts to 2028 - Global Analysis By Organization Size (Large Enterprises, Small and Medium Businesses ), Type (Database Encryption, Database Application Builder) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $16.62 BN |
|
Projected Year Value (2028) |
US $44.19 BN |
|
CAGR (2022 - 2028) |
17.7% |
|
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 |
|
Fastest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Cloud database Market is accounted for $16.62 billion in 2022 and is expected to reach $44.19 billion by 2028 growing at a CAGR of 17.7% during the forecast period. Database services can be provided on premises. It is used to store and manage different forms of information generated by a company. Database is appropriate for organizations that require instant access to database services low cost, low safeguarding and easy scalability options. On-demand services are known as cloud-based databases, which is gaining recognition among several organizations. Service providers offer end to end solutions, which help organizations focus on their core business areas.
In Asia-pacific, great strides are being made in digital economy. But it is also causing more threat-related opportunities. According to Cisco, companies receive 6 threats every minute in APAC and 51% of all cyber-attacks resulted in a loss of more than USD$1 million. Enterprises can use the cloud virtualization solutions, tools and databases to develop their cloud based applications and solutions. The rising usage of databases as a virtual image machine will further drive the market. Forbes has stated that 83% of enterprise workloads will be in cloud by 2020 thereby creating a wide range of opportunities for the Cloud Database Market. It has also stated that in 2019 alone, 30% of all the IT budgets were allocated to the cloud computing thereby contributing to the market share. However small and medium scale enterprises are analyzed to have highest growth rate during the forecast period 2021-2026.
Market Dynamics:
Driver:
Increasing data storage requirements
Storage capacity automatically scales up if the user is near its limit. This helps the user by saving the time that might be wasted for future data storage estimation or spending money on capacity until needed. Supporting transactions, maintaining strong consistency and high availability across provinces and continents a scalable database service called Cloud Spanner was built. The cloud spanner provides the customer with strong listing consistency that reduces the probability of missing files amid a huge pile of data. Moreover, No SQL implemented storage in the cloud ensures affordability, and the data can be easily accessed from anywhere around the world thereby boosting the market growth. The rise of cloud computing has driven the adoption of SQL-based cloud databases which will propel the market.
Restraint:
Safety of the data stored on cloud
A data breach is among one the security concerns that hinder the growth of the market. Data theft or breaches have financial repercussions and negatively impact an organization's reputation, owing to security vulnerabilities. Thus, security breaches make a company vulnerable to various data privacy concerns.
Opportunity:
Increasing demand for Database as a service
Cloud Database eradicates physical infrastructure and provides faster time to application development at a lower cost. Moreover, DBaaS solutions provide benefits including instantaneous scalability, performance guarantees, failover support, declining pricing, and specialized expertise. With the rise in cloud computing the demand for servers and DBaaS has significantly increased, primarily DBaaS provision benefits including lower database licensing and infrastructure costs and so on are impacting the rise of the demand for DBaaS market thereby elevating the growth of the Market.
Threat:
High cost
High costs associated with deployment and use of cloud based services is a major factor restraining growth of the market.The initial cost of hosting services for your database deployments can be lower than growing business's existing servers. But as service needs grow, costs can rise – sometimes quite sharply. One of the powerful aspects of cloud hosting databases is the ability for business to start with just the services it needs, but overprovision these needs as this could mean higher costs.
The industries that were opened up as vital services failed to generate the cloud database and DBaaS market development that was required. Due to the distant nature of industry activities, there was an increase in the sales of cloud databases and DBaaS.In addition, to preserve business continuity, enterprises are implementing remote working modes and cloud computing services as a result of the coronavirus illness (COVID-19) outbreak and lockdowns enacted by governments in several nations. This is fueling demand for cloud database and DBaaS around the world, which allow for remote document interchange.COVID-19 also continued to be a significant issue for economies around the world, as indicated by a year-over-year reduction in exports in the United States between April 2020 and April 2021, as well as an increase in imports during the same time period. The cloud database and DBaaS market are attempting to recoup its minor losses.Despite this, it means that the Healthcare/ICT/Chemical industries are likely to be directly affected, resulting in big demand for cloud database and DBaaS.
The large enterprisessegment is expected to be the largest during the forecast period
The large enterprises segment is expected to be the largest during the forecast period. The trend of digitalization has been increasing extensively among large enterprises. The growing connectivity of bandwidths and mobility trends can be seen more among large enterprises, owing to the presence of a huge workforce. The increasing demand for employees to access computing resources and applications from anywhere and at any time has made it complex for enterprises to store and manage their data. Large enterprises also generate huge amounts of critical business data regularly. Hence, it has become important for them to store and manage their data and avoid the redundancy of data. Large enterprises in the Banking, Financial Services and Insurance (BFSI), telecom and Information Technology (IT), consumer goods and retail, and manufacturing verticals cannot afford to lose customers due to network issues. These enterprises, therefore, are opting to deploy cloud database services. Organizations are expected to adopt private and hybrid cloud deployments, as these deployment modes have an increasing penetration in the cloud computing landscape and can help organizations serve their clients by delivering better service quality.
The Banking, Financial Services, and Insurance (BFSI)segment is expected to have the highest CAGR during the forecast period
The Banking, Financial Services, and Insurance (BFSI) segment is expected to have the highest CAGR during the forecast period, as it is one of the largest data-centric industries generating a high volume of data at a rapid pace.The rising focus on automated teller machines (ATMs), electronic transactions, call centers, credit cards, and mobile-based sources is one of the key factors resulting in enormous data generation. Hence, the vertical is increasingly deploying the cloud database as a service technology to not only access, manage, store, and modify data for further processes but also ensure seamless execution of transactions. These factors are, thus, propelling the growth of the market in the BFSI sector.
Region with highest share:
North America is projected to hold the largest market share during the forecast period. The growth can be accredited to the presence of large cloud database providers based in the US and Canada regions such as Google, Oracle, and Amazon, among others. Additionally, increasing investments in the development of cloud technology is another crucial factor contributing to the overall market growth. Besides, the market share of the Asia Pacific region is estimated to proliferate in the forecast period owing to the increased adoption of cloud computing technologies in various sectors.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period owing to the increasing adoption of IoT and the major shift of the numerous enterprises towards the cloud computing. Besides the significant rise in the investments towards the shift of enterprises and the use of IoT in various applications including smart homes, roads and so on are boosting the Cloud Database Market.In the APAC region, there is a tremendous demand for cloud database solution and services due to the massive and continuous growth of data through various channels, such smartphones and Internet of Things (IoT) devices.
Key players in the market
Some of the key players profiled in the Cloud DatabaseMarket include Microsoft Corporation, Amazon Web Services, IBM, Google Inc., Alibaba, Oracle Corporation, SAP AG, CSC (Computer Science Corporation), Citrix Systems, Dell, Inc., Cisco Systems, Hewlett Packard Enterprise, Vmware, Inc., Rackspace, Salesforce.Com, Century Link Inc., Tencent, Teradata, Cassandra and Couchbase.
Key Developments:
In April 2019: Google launched an end-to-end AI platform. With this launch, new features such as AutoML Tables and AutoML Video Intelligence (now in beta) were added. By taking existing tabular data from Google’s BigQuery database, AutoML Tables enable users to automatically create a model that would predict the value of a given column.
In February 2019: AWS collaborated with Lyft. Lyft leveraged AWS services, such as ML, database, and analytics. Lyft relies on Amazon DynamoDB, which delivers high performance to assists mission-critical workloads including ride-tracking system.
Deployment ModelsCovered:
• Database as a service (DBaaS)
• Infrastructure as a service (IaaS)
• Platform as a service (PaaS)
Service Models Covered:
• Virtual Private Cloud
• Hybrid Cloud
• Public Cloud
• Private Cloud
Organization Sizes Covered:
• Large Enterprises
• Small and Medium Businesses
Services Covered:
• System and Network Integration
• Deployment and Maintenance
• Training and Consulting Services
Databases Covered:
• Structured Query Language (SQL)
• Not only Structured Query Language (NoSQL)
Software’s Covered:
• Backup and Recovery
• Database Application Builder
• Data Scaling and Replication
• Database Encryption
• Other Software’s
End Users Covered:
• Government
• Professional Services
• Banking, Financial Services, and Insurance (BFSI)
• Academic
• Hospitality
• Telecommunication
• Healthcare and Life Sciences
• Other End User
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 2020, 2021, 2022, 2025 and 2028
- 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
o 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 End User Analysis
3.7 Emerging Markets
3.8 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 Cloud database Market, By Organization Size
5.1 Introduction
5.2 Large Enterprises
5.3 Small and Medium Businesses
6 Global Cloud database Market, By Type
6.1 Introduction
6.2 Database Encryption
6.3 Database Application Builder
6.4 Backup and Recovery
6.5 Data Scaling and Replication
6.6 Other Types
7 Global Cloud database Market, By End User
7.1 Introduction
7.2 Government
7.3 Professional Services
7.4 Banking, Financial Services, and Insurance (BFSI)
7.5 Academic
7.6 Hospitality
7.7 Telecommunication
7.8 Healthcare and Life Sciences
7.9 Other End Users
8 Global Cloud database Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Microsoft Corporation
10.2 Amazon Web Services
10.3 IBM
10.4 Google Inc.
10.5 Alibaba
10.6 Oracle Corporation
10.7 SAP AG
10.8 CSC (Computer Science Corporation)
10.9 Citrix Systems
10.10 Dell, Inc.
10.11 Cisco Systems
10.12 Hewlett Packard Enterprise
10.13 Vmware, Inc.
10.14 Rackspace
10.15 Salesforce.Com
10.16 Century Link Inc.
10.17 Tencent
10.18 Teradata
10.19 Cassandra
10.20 Couchbase
List of Tables
1 Global Cloud database Market Outlook, By Region (2020-2028) (US $MN)
2 Global Cloud database Market Outlook, By Organization Size (2020-2028) (US $MN)
3 Global Cloud database Market Outlook, By Large Enterprises (2020-2028) (US $MN)
4 Global Cloud database Market Outlook, By Small and Medium Businesses (2020-2028) (US $MN)
5 Global Cloud database Market Outlook, By Type (2020-2028) (US $MN)
6 Global Cloud database Market Outlook, By Database Encryption (2020-2028) (US $MN)
7 Global Cloud database Market Outlook, By Database Application Builder (2020-2028) (US $MN)
8 Global Cloud database Market Outlook, By Backup and Recovery (2020-2028) (US $MN)
9 Global Cloud database Market Outlook, By Data Scaling and Replication (2020-2028) (US $MN)
10 Global Cloud database Market Outlook, By Other Types (2020-2028) (US $MN)
11 Global Cloud database Market Outlook, By End User (2020-2028) (US $MN)
12 Global Cloud database Market Outlook, By Government (2020-2028) (US $MN)
13 Global Cloud database Market Outlook, By Professional Services (2020-2028) (US $MN)
14 Global Cloud database Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) (US $MN)
15 Global Cloud database Market Outlook, By Academic (2020-2028) (US $MN)
16 Global Cloud database Market Outlook, By Hospitality (2020-2028) (US $MN)
17 Global Cloud database Market Outlook, By Telecommunication (2020-2028) (US $MN)
18 Global Cloud database Market Outlook, By Healthcare and Life Sciences (2020-2028) (US $MN)
19 Global Cloud database Market Outlook, By Other End Users (2020-2028) (US $MN)
20 North America Cloud database Market Outlook, By Country (2020-2028) (US $MN)
21 North America Cloud database Market Outlook, By Organization Size (2020-2028) (US $MN)
22 North America Cloud database Market Outlook, By Large Enterprises (2020-2028) (US $MN)
23 North America Cloud database Market Outlook, By Small and Medium Businesses (2020-2028) (US $MN)
24 North America Cloud database Market Outlook, By Type (2020-2028) (US $MN)
25 North America Cloud database Market Outlook, By Database Encryption (2020-2028) (US $MN)
26 North America Cloud database Market Outlook, By Database Application Builder (2020-2028) (US $MN)
27 North America Cloud database Market Outlook, By Backup and Recovery (2020-2028) (US $MN)
28 North America Cloud database Market Outlook, By Data Scaling and Replication (2020-2028) (US $MN)
29 North America Cloud database Market Outlook, By Other Types (2020-2028) (US $MN)
30 North America Cloud database Market Outlook, By End User (2020-2028) (US $MN)
31 North America Cloud database Market Outlook, By Government (2020-2028) (US $MN)
32 North America Cloud database Market Outlook, By Professional Services (2020-2028) (US $MN)
33 North America Cloud database Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) (US $MN)
34 North America Cloud database Market Outlook, By Academic (2020-2028) (US $MN)
35 North America Cloud database Market Outlook, By Hospitality (2020-2028) (US $MN)
36 North America Cloud database Market Outlook, By Telecommunication (2020-2028) (US $MN)
37 North America Cloud database Market Outlook, By Healthcare and Life Sciences (2020-2028) (US $MN)
38 North America Cloud database Market Outlook, By Other End Users (2020-2028) (US $MN)
39 Europe Cloud database Market Outlook, By Country (2020-2028) (US $MN)
40 Europe Cloud database Market Outlook, By Organization Size (2020-2028) (US $MN)
41 Europe Cloud database Market Outlook, By Large Enterprises (2020-2028) (US $MN)
42 Europe Cloud database Market Outlook, By Small and Medium Businesses (2020-2028) (US $MN)
43 Europe Cloud database Market Outlook, By Type (2020-2028) (US $MN)
44 Europe Cloud database Market Outlook, By Database Encryption (2020-2028) (US $MN)
45 Europe Cloud database Market Outlook, By Database Application Builder (2020-2028) (US $MN)
46 Europe Cloud database Market Outlook, By Backup and Recovery (2020-2028) (US $MN)
47 Europe Cloud database Market Outlook, By Data Scaling and Replication (2020-2028) (US $MN)
48 Europe Cloud database Market Outlook, By Other Types (2020-2028) (US $MN)
49 Europe Cloud database Market Outlook, By End User (2020-2028) (US $MN)
50 Europe Cloud database Market Outlook, By Government (2020-2028) (US $MN)
51 Europe Cloud database Market Outlook, By Professional Services (2020-2028) (US $MN)
52 Europe Cloud database Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) (US $MN)
53 Europe Cloud database Market Outlook, By Academic (2020-2028) (US $MN)
54 Europe Cloud database Market Outlook, By Hospitality (2020-2028) (US $MN)
55 Europe Cloud database Market Outlook, By Telecommunication (2020-2028) (US $MN)
56 Europe Cloud database Market Outlook, By Healthcare and Life Sciences (2020-2028) (US $MN)
57 Europe Cloud database Market Outlook, By Other End Users (2020-2028) (US $MN)
58 Asia Pacific Cloud database Market Outlook, By Country (2020-2028) (US $MN)
59 Asia Pacific Cloud database Market Outlook, By Organization Size (2020-2028) (US $MN)
60 Asia Pacific Cloud database Market Outlook, By Large Enterprises (2020-2028) (US $MN)
61 Asia Pacific Cloud database Market Outlook, By Small and Medium Businesses (2020-2028) (US $MN)
62 Asia Pacific Cloud database Market Outlook, By Type (2020-2028) (US $MN)
63 Asia Pacific Cloud database Market Outlook, By Database Encryption (2020-2028) (US $MN)
64 Asia Pacific Cloud database Market Outlook, By Database Application Builder (2020-2028) (US $MN)
65 Asia Pacific Cloud database Market Outlook, By Backup and Recovery (2020-2028) (US $MN)
66 Asia Pacific Cloud database Market Outlook, By Data Scaling and Replication (2020-2028) (US $MN)
67 Asia Pacific Cloud database Market Outlook, By Other Types (2020-2028) (US $MN)
68 Asia Pacific Cloud database Market Outlook, By End User (2020-2028) (US $MN)
69 Asia Pacific Cloud database Market Outlook, By Government (2020-2028) (US $MN)
70 Asia Pacific Cloud database Market Outlook, By Professional Services (2020-2028) (US $MN)
71 Asia Pacific Cloud database Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) (US $MN)
72 Asia Pacific Cloud database Market Outlook, By Academic (2020-2028) (US $MN)
73 Asia Pacific Cloud database Market Outlook, By Hospitality (2020-2028) (US $MN)
74 Asia Pacific Cloud database Market Outlook, By Telecommunication (2020-2028) (US $MN)
75 Asia Pacific Cloud database Market Outlook, By Healthcare and Life Sciences (2020-2028) (US $MN)
76 Asia Pacific Cloud database Market Outlook, By Other End Users (2020-2028) (US $MN)
77 South America Cloud database Market Outlook, By Country (2020-2028) (US $MN)
78 South America Cloud database Market Outlook, By Organization Size (2020-2028) (US $MN)
79 South America Cloud database Market Outlook, By Large Enterprises (2020-2028) (US $MN)
80 South America Cloud database Market Outlook, By Small and Medium Businesses (2020-2028) (US $MN)
81 South America Cloud database Market Outlook, By Type (2020-2028) (US $MN)
82 South America Cloud database Market Outlook, By Database Encryption (2020-2028) (US $MN)
83 South America Cloud database Market Outlook, By Database Application Builder (2020-2028) (US $MN)
84 South America Cloud database Market Outlook, By Backup and Recovery (2020-2028) (US $MN)
85 South America Cloud database Market Outlook, By Data Scaling and Replication (2020-2028) (US $MN)
86 South America Cloud database Market Outlook, By Other Types (2020-2028) (US $MN)
87 South America Cloud database Market Outlook, By End User (2020-2028) (US $MN)
88 South America Cloud database Market Outlook, By Government (2020-2028) (US $MN)
89 South America Cloud database Market Outlook, By Professional Services (2020-2028) (US $MN)
90 South America Cloud database Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) (US $MN)
91 South America Cloud database Market Outlook, By Academic (2020-2028) (US $MN)
92 South America Cloud database Market Outlook, By Hospitality (2020-2028) (US $MN)
93 South America Cloud database Market Outlook, By Telecommunication (2020-2028) (US $MN)
94 South America Cloud database Market Outlook, By Healthcare and Life Sciences (2020-2028) (US $MN)
95 South America Cloud database Market Outlook, By Other End Users (2020-2028) (US $MN)
96 Middle East & Africa Cloud database Market Outlook, By Country (2020-2028) (US $MN)
97 Middle East & Africa Cloud database Market Outlook, By Organization Size (2020-2028) (US $MN)
98 Middle East & Africa Cloud database Market Outlook, By Large Enterprises (2020-2028) (US $MN)
99 Middle East & Africa Cloud database Market Outlook, By Small and Medium Businesses (2020-2028) (US $MN)
100 Middle East & Africa Cloud database Market Outlook, By Type (2020-2028) (US $MN)
101 Middle East & Africa Cloud database Market Outlook, By Database Encryption (2020-2028) (US $MN)
102 Middle East & Africa Cloud database Market Outlook, By Database Application Builder (2020-2028) (US $MN)
103 Middle East & Africa Cloud database Market Outlook, By Backup and Recovery (2020-2028) (US $MN)
104 Middle East & Africa Cloud database Market Outlook, By Data Scaling and Replication (2020-2028) (US $MN)
105 Middle East & Africa Cloud database Market Outlook, By Other Types (2020-2028) (US $MN)
106 Middle East & Africa Cloud database Market Outlook, By End User (2020-2028) (US $MN)
107 Middle East & Africa Cloud database Market Outlook, By Government (2020-2028) (US $MN)
108 Middle East & Africa Cloud database Market Outlook, By Professional Services (2020-2028) (US $MN)
109 Middle East & Africa Cloud database Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2020-2028) (US $MN)
110 Middle East & Africa Cloud database Market Outlook, By Academic (2020-2028) (US $MN)
111 Middle East & Africa Cloud database Market Outlook, By Hospitality (2020-2028) (US $MN)
112 Middle East & Africa Cloud database Market Outlook, By Telecommunication (2020-2028) (US $MN)
113 Middle East & Africa Cloud database Market Outlook, By Healthcare and Life Sciences (2020-2028) (US $MN)
114 Middle East & Africa Cloud database Market Outlook, By Other End Users (2020-2028) (US $MN)
List of Figures
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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