Neobanking Market
Neobanking Market Forecasts to 2030 - Global Analysis By Account Type (Savings Account and Business Account), Service (Mobile banking, Remittance and Other Services), Application and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $103.5 BN |
|
Projected Year Value (2030) |
US $1768.39 BN |
|
CAGR (2023 - 2030) |
50.0% |
|
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 Neobanking Market is accounted for $103.5 billion in 2023 and is expected to reach $1768.39 billion by 2030 growing at a CAGR of 50.0% during the forecast period. Neobanking refers to a modern approach to banking that operates entirely online without any physical branches. These digital-only banks leverage technology to offer a range of financial services, such as savings accounts, checking accounts, loans, and payment solutions. Neobanks typically provide seamless user experiences through mobile apps and web platforms, often with innovative features like real-time transaction notifications, budgeting tools, and automated savings options. They aim to disrupt traditional banking by offering lower fees, higher interest rates, and more personalized customer experiences.
According to Visa, a multinational financial service company, there are more than one billion mobile money wallets worldwide. According to the U.K. Fintech industry report, 2022, the FinTech industry in the U.K. consists of over 1,600 firms, and this number is likely to double by 2030. According to a Digital Banking in the Middle East, 2022 report, 58% of consumers in the MEA region prefer digital and cashless payment methods, with only 10% of consumers choosing cash.
Market Dynamics:
Driver:
Globalization and cross-border expansion
Globalization has propelled the neobanking market by breaking down geographical barriers, allowing neobanks to expand their services across borders seamlessly. As businesses and individuals increasingly operate on a global scale, the demand for flexible, digital banking solutions has surged. Neobanks, with their agile and technology-driven approach, are well-positioned to cater to this demand. Moreover, the interconnectedness of economies and the rise of digital communication have made cross-border expansion more feasible for neobanks, enabling them to tap into new markets and customer segments with relative ease.
Restraint:
Trust and credibility
Trust and credibility are crucial restraints in the neobanking market, impacting customer adoption and retention. Neobanks, being digital-only entities, must overcome skepticism regarding security and reliability compared to traditional banks. Building trust entails transparent communication, robust security measures, and reliable customer service. Credibility hinges on factors like regulatory compliance, financial stability, and user experiences. Any breach in trust or credibility can lead to customer churn and hinder growth prospects.
Opportunity:
Low fees and competitive rates
In the Neobanking market, the opportunity to offer low fees and competitive rates stems from their digital-first approach, which allows for streamlined operations and cost savings compared to traditional banks. By leveraging technology and automation, Neobanks can significantly reduce overhead costs associated with physical branches and manual processes. This enables them to pass on these savings to customers in the form of lower fees and higher interest rates on savings accounts. Furthermore, the absence of legacy systems and infrastructure gives Neobanks the flexibility to adapt quickly to market trends and optimize pricing strategies, enhancing their competitiveness in attracting customers.
Threat:
Customer acquisition and retention
In the competitive landscape of Neobanking, the threat of customer acquisition and retention looms large. Neobanks must constantly strive to attract new customers while also retaining existing ones in the face of fierce competition. With traditional banks also adopting digital strategies, Neobanks face challenges in standing out and offering unique value propositions to potential customers. Moreover, the low switching costs in the digital banking space make customer churn a significant concern. To counter these threats, Neobanks must focus on delivering superior user experiences, personalized services, and innovative features to both acquire and retain customers effectively.
Covid-19 Impact:
The COVID-19 pandemic significantly accelerated the adoption of digital banking services, including neobanking, as people sought safer and more convenient ways to manage their finances remotely. Neobanks, with their focus on digital platforms and user-friendly interfaces, experienced a surge in demand as traditional banking services faced limitations due to lockdowns and social distancing measures. This led to a rapid increase in customer acquisition for neobanks, as consumers embraced the convenience of managing their finances from the comfort of their homes. Additionally, the pandemic highlighted the importance of financial resilience, prompting individuals to seek out neobanks for their innovative features such as budgeting tools and real-time spending insights.
The mobile banking segment is expected to be the largest during the forecast period
The growth of the mobile banking segment within the Neobanking market has been remarkable, driven by the increasing reliance on smartphones for financial transactions. Neobanks, with their digitally-native approach, offer seamless mobile experiences, attracting tech-savvy users seeking convenience and efficiency. These banks leverage mobile apps to provide round-the-clock access to banking services, including account management, payments, and budgeting tools, catering to the evolving preferences of consumers. Additionally, the pandemic accelerated the adoption of mobile banking as people sought contactless options for managing their finances.
The enterprise segment is expected to have the highest CAGR during the forecast period
The enterprise segment has experienced significant growth due to their increasing adoptions for neobanking solutions to streamline their financial operations, taking advantage of the convenience and efficiency offered by digital banking platforms. Neobanks are tailoring their services to meet the specific needs of businesses, offering features such as real-time payments, expense tracking, and customizable financial management tools. The rise of digital-first business models has created fertile ground for neobanks to cater to the financial needs of startups, SMEs, and larger enterprises alike. Furthermore, the scalability and flexibility of neobanking solutions make them particularly appealing to enterprises looking to adapt quickly to changing market conditions and scale their operations efficiently.
Region with largest share:
The North American region has experienced significant growth in the neobanking market due to a strong culture of innovation and technological advancements, which has fuelled the proliferation of neobanks. the region's large population of digitally savvy individuals, coupled with increasing smartphone penetration, has created a ripe market for neobanks to thrive. Regulatory reforms and openness to fintech innovation have also facilitated the expansion of neobanking services across North America. Moreover, the dissatisfaction with traditional banking institutions and their cumbersome processes has driven consumers towards the convenience and agility offered by neobanks. Additionally, partnerships with established financial institutions and strategic marketing efforts have further boosted the visibility and adoption of neobanking solutions in the region.
Region with highest CAGR:
The Asia-Pacific region has witnessed significant growth in the neobanking market due to the region's burgeoning population of digitally savvy consumers, coupled with increasing smartphone penetration and internet accessibility, has created a ripe environment for neobanks to thrive. Additionally, regulatory reforms aimed at fostering innovation and competition in the financial sector have paved the way for neobanks to enter the market more easily. Moreover, the rise of fintech ecosystems and the demand for convenient, user-friendly banking solutions have fueled the adoption of neobanking services across the region. As a result, established neobanks and new entrants alike are capitalizing on this momentum, driving impressive growth in the Asia-Pacific neobanking sector.
Key players in the market
Some of the key players in Neobanking market include Atom Bank Plc, BBVA S.A., BMTX Inc., Chime Financial, Inc., Citigroup Inc. , Dave Inc., Deutsche Bank AG, DBS Bank Ltd, Equitable Bank, HSBC Holdings Plc, Monzo Bank Ltd. , N26 GmbH, Neo Financial Technologies Inc, Nubank S.A., OakNorth, OTP Bank Group, Revolut Ltd., SoFi Technologies, Inc. , Sopra Steria Group, Starling Bank, Tangerine Bank and Upgrade Inc.
Key Developments:
In February 2024, XTransfer has announced a major milestone in its partnership with Deutsche Bank. In a groundbreaking move, Deutsche Bank has successfully executed XTransfer's first onshore Thai Baht (THB) trade in Thailand, leveraging the latest version of the Bank of Thailand's Non-Resident Qualified Company (NRQC) rules.
In October 2023, OakNorth and Founders4Schools, the award-winning ed-tech charity for teachers, announced a new partnership to support 100,000 secondary school students (11-16 year-olds) – including 40,000 from disadvantaged socioeconomic backgrounds – over the next three years. The programme will provide secondary school students with mentorship and inspiration from university students who have chosen subjects that require maths.
Account Types Covered:
• Savings Account
• Business Account
Services Covered:
• Mobile banking
• Remittance
• Loan
• Payment
• Money Transfers
• Investments
• Insurance
• Safe Deposit Boxes
• Money Management Tools
• Other Services
Applications Covered:
• Personal
• Enterprises
• Other Applications
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 Application 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 Neobanking Market, By Account Type
5.1 Introduction
5.2 Savings Account
5.3 Business Account
6 Global Neobanking Market, By Service
6.1 Introduction
6.2 Mobile banking
6.3 Remittance
6.4 Loan
6.5 Payment
6.6 Money Transfers
6.7 Investments
6.8 Insurance
6.9 Safe Deposit Boxes
6.10 Money Management Tools
6.11 Other Services
7 Global Neobanking Market, By Application
7.1 Introduction
7.2 Personal
7.3 Enterprises
7.4 Other Applications
8 Global Neobanking 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 Atom Bank Plc
10.2 BBVA S.A.
10.3 BMTX Inc.
10.4 Chime Financial, Inc.
10.5 Citigroup Inc.
10.6 Dave Inc.
10.7 Deutsche Bank AG
10.8 DBS Bank Ltd
10.9 Equitable Bank
10.10 HSBC Holdings Plc
10.11 Monzo Bank Ltd.
10.12 N26 GmbH
10.13 Neo Financial Technologies Inc
10.14 Nubank S.A.
10.15 OakNorth
10.16 OTP Bank Group
10.17 Revolut Ltd.
10.18 SoFi Technologies, Inc.
10.19 Sopra Steria Group
10.20 Starling Bank
10.21 Tangerine Bank
10.22 Upgrade Inc.
List of Tables
1 Global Neobanking Market Outlook, By Region (2021-2030) ($MN)
2 Global Neobanking Market Outlook, By Account Type (2021-2030) ($MN)
3 Global Neobanking Market Outlook, By Savings Account (2021-2030) ($MN)
4 Global Neobanking Market Outlook, By Business Account (2021-2030) ($MN)
5 Global Neobanking Market Outlook, By Service (2021-2030) ($MN)
6 Global Neobanking Market Outlook, By Mobile banking (2021-2030) ($MN)
7 Global Neobanking Market Outlook, By Remittance (2021-2030) ($MN)
8 Global Neobanking Market Outlook, By Loan (2021-2030) ($MN)
9 Global Neobanking Market Outlook, By Payment (2021-2030) ($MN)
10 Global Neobanking Market Outlook, By Money Transfers (2021-2030) ($MN)
11 Global Neobanking Market Outlook, By Investments (2021-2030) ($MN)
12 Global Neobanking Market Outlook, By Insurance (2021-2030) ($MN)
13 Global Neobanking Market Outlook, By Safe Deposit Boxes (2021-2030) ($MN)
14 Global Neobanking Market Outlook, By Money Management Tools (2021-2030) ($MN)
15 Global Neobanking Market Outlook, By Other Services (2021-2030) ($MN)
16 Global Neobanking Market Outlook, By Application (2021-2030) ($MN)
17 Global Neobanking Market Outlook, By Personal (2021-2030) ($MN)
18 Global Neobanking Market Outlook, By Enterprises (2021-2030) ($MN)
19 Global Neobanking Market Outlook, By Other Applications (2021-2030) ($MN)
20 North America Neobanking Market Outlook, By Country (2021-2030) ($MN)
21 North America Neobanking Market Outlook, By Account Type (2021-2030) ($MN)
22 North America Neobanking Market Outlook, By Savings Account (2021-2030) ($MN)
23 North America Neobanking Market Outlook, By Business Account (2021-2030) ($MN)
24 North America Neobanking Market Outlook, By Service (2021-2030) ($MN)
25 North America Neobanking Market Outlook, By Mobile banking (2021-2030) ($MN)
26 North America Neobanking Market Outlook, By Remittance (2021-2030) ($MN)
27 North America Neobanking Market Outlook, By Loan (2021-2030) ($MN)
28 North America Neobanking Market Outlook, By Payment (2021-2030) ($MN)
29 North America Neobanking Market Outlook, By Money Transfers (2021-2030) ($MN)
30 North America Neobanking Market Outlook, By Investments (2021-2030) ($MN)
31 North America Neobanking Market Outlook, By Insurance (2021-2030) ($MN)
32 North America Neobanking Market Outlook, By Safe Deposit Boxes (2021-2030) ($MN)
33 North America Neobanking Market Outlook, By Money Management Tools (2021-2030) ($MN)
34 North America Neobanking Market Outlook, By Other Services (2021-2030) ($MN)
35 North America Neobanking Market Outlook, By Application (2021-2030) ($MN)
36 North America Neobanking Market Outlook, By Personal (2021-2030) ($MN)
37 North America Neobanking Market Outlook, By Enterprises (2021-2030) ($MN)
38 North America Neobanking Market Outlook, By Other Applications (2021-2030) ($MN)
39 Europe Neobanking Market Outlook, By Country (2021-2030) ($MN)
40 Europe Neobanking Market Outlook, By Account Type (2021-2030) ($MN)
41 Europe Neobanking Market Outlook, By Savings Account (2021-2030) ($MN)
42 Europe Neobanking Market Outlook, By Business Account (2021-2030) ($MN)
43 Europe Neobanking Market Outlook, By Service (2021-2030) ($MN)
44 Europe Neobanking Market Outlook, By Mobile banking (2021-2030) ($MN)
45 Europe Neobanking Market Outlook, By Remittance (2021-2030) ($MN)
46 Europe Neobanking Market Outlook, By Loan (2021-2030) ($MN)
47 Europe Neobanking Market Outlook, By Payment (2021-2030) ($MN)
48 Europe Neobanking Market Outlook, By Money Transfers (2021-2030) ($MN)
49 Europe Neobanking Market Outlook, By Investments (2021-2030) ($MN)
50 Europe Neobanking Market Outlook, By Insurance (2021-2030) ($MN)
51 Europe Neobanking Market Outlook, By Safe Deposit Boxes (2021-2030) ($MN)
52 Europe Neobanking Market Outlook, By Money Management Tools (2021-2030) ($MN)
53 Europe Neobanking Market Outlook, By Other Services (2021-2030) ($MN)
54 Europe Neobanking Market Outlook, By Application (2021-2030) ($MN)
55 Europe Neobanking Market Outlook, By Personal (2021-2030) ($MN)
56 Europe Neobanking Market Outlook, By Enterprises (2021-2030) ($MN)
57 Europe Neobanking Market Outlook, By Other Applications (2021-2030) ($MN)
58 Asia Pacific Neobanking Market Outlook, By Country (2021-2030) ($MN)
59 Asia Pacific Neobanking Market Outlook, By Account Type (2021-2030) ($MN)
60 Asia Pacific Neobanking Market Outlook, By Savings Account (2021-2030) ($MN)
61 Asia Pacific Neobanking Market Outlook, By Business Account (2021-2030) ($MN)
62 Asia Pacific Neobanking Market Outlook, By Service (2021-2030) ($MN)
63 Asia Pacific Neobanking Market Outlook, By Mobile banking (2021-2030) ($MN)
64 Asia Pacific Neobanking Market Outlook, By Remittance (2021-2030) ($MN)
65 Asia Pacific Neobanking Market Outlook, By Loan (2021-2030) ($MN)
66 Asia Pacific Neobanking Market Outlook, By Payment (2021-2030) ($MN)
67 Asia Pacific Neobanking Market Outlook, By Money Transfers (2021-2030) ($MN)
68 Asia Pacific Neobanking Market Outlook, By Investments (2021-2030) ($MN)
69 Asia Pacific Neobanking Market Outlook, By Insurance (2021-2030) ($MN)
70 Asia Pacific Neobanking Market Outlook, By Safe Deposit Boxes (2021-2030) ($MN)
71 Asia Pacific Neobanking Market Outlook, By Money Management Tools (2021-2030) ($MN)
72 Asia Pacific Neobanking Market Outlook, By Other Services (2021-2030) ($MN)
73 Asia Pacific Neobanking Market Outlook, By Application (2021-2030) ($MN)
74 Asia Pacific Neobanking Market Outlook, By Personal (2021-2030) ($MN)
75 Asia Pacific Neobanking Market Outlook, By Enterprises (2021-2030) ($MN)
76 Asia Pacific Neobanking Market Outlook, By Other Applications (2021-2030) ($MN)
77 South America Neobanking Market Outlook, By Country (2021-2030) ($MN)
78 South America Neobanking Market Outlook, By Account Type (2021-2030) ($MN)
79 South America Neobanking Market Outlook, By Savings Account (2021-2030) ($MN)
80 South America Neobanking Market Outlook, By Business Account (2021-2030) ($MN)
81 South America Neobanking Market Outlook, By Service (2021-2030) ($MN)
82 South America Neobanking Market Outlook, By Mobile banking (2021-2030) ($MN)
83 South America Neobanking Market Outlook, By Remittance (2021-2030) ($MN)
84 South America Neobanking Market Outlook, By Loan (2021-2030) ($MN)
85 South America Neobanking Market Outlook, By Payment (2021-2030) ($MN)
86 South America Neobanking Market Outlook, By Money Transfers (2021-2030) ($MN)
87 South America Neobanking Market Outlook, By Investments (2021-2030) ($MN)
88 South America Neobanking Market Outlook, By Insurance (2021-2030) ($MN)
89 South America Neobanking Market Outlook, By Safe Deposit Boxes (2021-2030) ($MN)
90 South America Neobanking Market Outlook, By Money Management Tools (2021-2030) ($MN)
91 South America Neobanking Market Outlook, By Other Services (2021-2030) ($MN)
92 South America Neobanking Market Outlook, By Application (2021-2030) ($MN)
93 South America Neobanking Market Outlook, By Personal (2021-2030) ($MN)
94 South America Neobanking Market Outlook, By Enterprises (2021-2030) ($MN)
95 South America Neobanking Market Outlook, By Other Applications (2021-2030) ($MN)
96 Middle East & Africa Neobanking Market Outlook, By Country (2021-2030) ($MN)
97 Middle East & Africa Neobanking Market Outlook, By Account Type (2021-2030) ($MN)
98 Middle East & Africa Neobanking Market Outlook, By Savings Account (2021-2030) ($MN)
99 Middle East & Africa Neobanking Market Outlook, By Business Account (2021-2030) ($MN)
100 Middle East & Africa Neobanking Market Outlook, By Service (2021-2030) ($MN)
101 Middle East & Africa Neobanking Market Outlook, By Mobile banking (2021-2030) ($MN)
102 Middle East & Africa Neobanking Market Outlook, By Remittance (2021-2030) ($MN)
103 Middle East & Africa Neobanking Market Outlook, By Loan (2021-2030) ($MN)
104 Middle East & Africa Neobanking Market Outlook, By Payment (2021-2030) ($MN)
105 Middle East & Africa Neobanking Market Outlook, By Money Transfers (2021-2030) ($MN)
106 Middle East & Africa Neobanking Market Outlook, By Investments (2021-2030) ($MN)
107 Middle East & Africa Neobanking Market Outlook, By Insurance (2021-2030) ($MN)
108 Middle East & Africa Neobanking Market Outlook, By Safe Deposit Boxes (2021-2030) ($MN)
109 Middle East & Africa Neobanking Market Outlook, By Money Management Tools (2021-2030) ($MN)
110 Middle East & Africa Neobanking Market Outlook, By Other Services (2021-2030) ($MN)
111 Middle East & Africa Neobanking Market Outlook, By Application (2021-2030) ($MN)
112 Middle East & Africa Neobanking Market Outlook, By Personal (2021-2030) ($MN)
113 Middle East & Africa Neobanking Market Outlook, By Enterprises (2021-2030) ($MN)
114 Middle East & Africa Neobanking Market Outlook, By Other Applications (2021-2030) ($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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