Web 30 Blockchain Market
Web 3.0 Blockchain Market Forecasts to 2030 - Global Analysis By Type (Public, Private, Consortium, Hybrid and Other Types), Application (Crypto Currency, Conversational AI, Data & Transaction Storage, Payments, Smart Contracts and Other Applications), End User and by Geography
According to Stratistics MRC, the Global Web 3.0 Blockchain Market is accounted for $2.58 billion in 2023 and is expected to reach $29.42 billion by 2030 growing at a CAGR of 41.6% during the forecast period. Web 3.0, also known as the decentralized web, is a paradigm shift in the way we use online resources and communicate with one another. The decentralized, secure ledger that powers crypto currencies like Bitcoin and Ethereum is at the center of this evolution: blockchain technology. Within the framework of Web 3.0, blockchain enables transparent and trustless transactions, allowing users to communicate directly with one another without the need for middlemen. Moreover, Web 3.0 enables the integration of smart contracts, or self-executing and programmable agreements, which pave the way for a more autonomous and effective online ecosystem.
According to the World Economic Forum, the advent of Web 3.0 and blockchain technology marks a transformative era in the digital landscape, offering unprecedented opportunities for decentralized collaboration, increased security, and enhanced user control over personal data.
Market Dynamics:
Driver:
Increased privacy and security for data
There is a greater need for more comprehensive data security and privacy solutions as a result of the rise in cybersecurity concerns. With its decentralized and cryptographic features, Web 3.0 Blockchain offers a solution to these issues. The overall security of digital transactions and sensitive data is improved by the tamper-resistant nature of blockchain, which guarantees that once data is recorded, it cannot be changed or manipulated. Furthermore, the promise of a more secure online environment attracts both businesses and users, propelling the adoption of Web 3.0 blockchain solutions.
Restraint:
Issues relating to energy use
Numerous blockchain networks have come under fire for their high energy consumption, particularly those that employ proof-of-work consensus techniques. The mining procedures that require a lot of energy to validate transactions can have negative effects on the environment and raise questions about sustainability. Additionally, the need for more environmentally friendly alternatives arises from the growing attention being paid to environmental issues worldwide. One notable limitation of some blockchain technologies is their energy consumption.
Opportunity:
Growth in decentralized identity management
Web 3.0 Blockchain offers a great deal of potential for the creation of decentralized identity systems. Blockchain technology has the potential to completely change how people manage and control their personal information online by enabling the creation of secure, verifiable digital identities. Moreover, these applications in secure authentication, access control, and the development of an online identity ecosystem that prioritizes privacy are all included in this opportunity.
Threat:
Security issues and weaknesses
The ongoing security issue is one of the main dangers to the Web 3.0 blockchain. Blockchain is known for its impervious design; however, there are serious risks associated with it, including hacking attempts, vulnerabilities in smart contracts, and possible 51% attacks on certain consensus mechanisms. The dynamic nature of cyber threats necessitates constant improvements to security protocols and blockchain network resilience.
Covid-19 Impact:
The COVID-19 pandemic has significantly altered industries and economic environments while also having an impact on global markets. The growing need for remote solutions led to faster growth in some industries, like technology and e-commerce, but major setbacks were faced by others, like travel, hospitality, and traditional retail. Moreover, changes in consumer behaviour, remote work trends, and supply chain disruptions were the hallmarks of the pandemic's impact. Further highlighting the need for resilience and adaptability across various industries in navigating the challenges posed by the ongoing pandemic is the fact that the economic uncertainty brought on by the health crisis has increased volatility in financial markets.
The Public segment is expected to be the largest during the forecast period
In the Web 3.0 blockchain market, the public sector has held the largest share. Public blockchains, such as those found in cryptocurrencies like Ethereum and Bitcoin, function on a decentralized network that is open to all users. By using consensus techniques, these blockchains give security and transparency top priority. Additionally, the openness, global participation, and decentralized applications of the public blockchain are its main selling points.
The Smart Contracts segment is expected to have the highest CAGR during the forecast period
The segment with the highest CAGR is smart contracts. On blockchain platforms, smart contracts are self-executing contracts with coded conditions that guarantee the transparent and trustless execution of agreements. Significant growth has been spurred by their versatility, particularly in applications related to decentralized finance (DeFi). Smart contracts have gained a lot of attention and are being widely used because they automate complicated processes, remove middlemen, and improve security.
Region with largest share:
The largest share of the Web 3.0 blockchain market has been held by the North American region, specifically the United States. With a large number of well-known tech firms, financial institutions, and startups actively investigating and deploying blockchain solutions, the US has emerged as a leader in blockchain innovation. The region holds a dominant position due to its strong infrastructure, comparatively favorable regulatory environment, and substantial investments in blockchain research and development when compared to other regions. Additionally, the region's leadership in the Web 3.0 blockchain market can be attributed to the existence of significant blockchain projects, partnerships among industry participants, and a strong emphasis on emerging technologies in North America.
Region with highest CAGR:
The Web 3.0 blockchain market is expected to grow at the highest CAGR in the European region. Countries in the European Union, such as Germany, Switzerland, and the United Kingdom, have shown a strong interest in blockchain technology and its potential uses. The region's increasing prominence in the blockchain space can be attributed to the European Union's initiatives to investigate and implement blockchain technology, as well as the regulatory frameworks that support them. Moreover, blockchain solutions are being increasingly integrated by European businesses and financial institutions for a range of use cases, which is encouraging innovation and assisting in the anticipated rapid growth.
Key players in the market
Some of the key players in Web 3.0 Blockchain market include Ocean Protocol Foundation Ltd., Polygon technology, Alchemy Insights, Inc., Filecoin, Antier Solutions, Ripple, Web3 Foundation (Polkadot), Livepeer, Inc., Helium Systems Inc., Kadena LLC, Terra and Zel Technologies Limited.
Key Developments:
In August 2023, Polygon Labs and SKT an international software development company that builds blockchain scaling infrastructure, today announced that they have signed a strategic collaboration agreement to build SKT’s Web3 ecosystem. The agreement signing ceremony took place at SKT’s headquarters located in Seoul and was attended by Oh Se-hyun, Vice President and Head of Web3 CO of SKT, and Marc Boiron, CEO of Polygon Labs.
In June 2023, Alchemy Insights Inc. announced the launch of AlchemyAI, a suite of new artificial intelligence tools. These tools aim to expedite data acquisition for developers and reduce build time. AlchemyAI will be a valuable addition to the existing platform, which already enables developers to create Web3 and blockchain applications.
In January 2022, Ocean Protocol, the decentralized data exchange protocol to unlock data for AI and business innovation, has entered into a strategic partnership with Dimitra, an agricultural technology company guided by the mission to deliver technology to help farmers around the globe improve operations and deliver higher yields.
Types Covered:
• Public
• Private
• Consortium
• Hybrid
• Other Types
Applications Covered:
• Crypto Currency
• Conversational AI
• Data & Transaction Storage
• Payments
• Smart Contracts
• Other Applications
End Users Covered:
• BFSI
• Retail & E-commerce
• Media & Entertainment
• Pharmaceuticals
• IT & Telecom
• 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 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
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 Web 3.0 Blockchain Market, By Type
5.1 Introduction
5.2 Public
5.3 Private
5.4 Consortium
5.5 Hybrid
5.6 Other Types
6 Global Web 3.0 Blockchain Market, By Application
6.1 Introduction
6.2 Crypto Currency
6.3 Conversational AI
6.4 Data & Transaction Storage
6.5 Payments
6.6 Smart Contracts
6.7 Other Applications
7 Global Web 3.0 Blockchain Market, By End User
7.1 Introduction
7.2 BFSI
7.3 Retail & E-commerce
7.4 Media & Entertainment
7.5 Pharmaceuticals
7.6 IT & Telecom
7.7 Other End Users
8 Global Web 3.0 Blockchain 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 Ocean Protocol Foundation Ltd.
10.2 Polygon technology
10.3 Alchemy Insights, Inc.
10.4 Filecoin
10.5 Antier Solutions
10.6 Ripple
10.7 Web3 Foundation (Polkadot)
10.8 Livepeer, Inc.
10.9 Helium Systems Inc.
10.10 Kadena LLC
10.11 Terra
10.12 Zel Technologies Limited.
List of Tables
1 Global Web 3.0 Blockchain Market Outlook, By Region (2021-2030) ($MN)
2 Global Web 3.0 Blockchain Market Outlook, By Type (2021-2030) ($MN)
3 Global Web 3.0 Blockchain Market Outlook, By Public (2021-2030) ($MN)
4 Global Web 3.0 Blockchain Market Outlook, By Private (2021-2030) ($MN)
5 Global Web 3.0 Blockchain Market Outlook, By Consortium (2021-2030) ($MN)
6 Global Web 3.0 Blockchain Market Outlook, By Hybrid (2021-2030) ($MN)
7 Global Web 3.0 Blockchain Market Outlook, By Other Types (2021-2030) ($MN)
8 Global Web 3.0 Blockchain Market Outlook, By Application (2021-2030) ($MN)
9 Global Web 3.0 Blockchain Market Outlook, By Crypto Currency (2021-2030) ($MN)
10 Global Web 3.0 Blockchain Market Outlook, By Conversational AI (2021-2030) ($MN)
11 Global Web 3.0 Blockchain Market Outlook, By Data & Transaction Storage (2021-2030) ($MN)
12 Global Web 3.0 Blockchain Market Outlook, By Payments (2021-2030) ($MN)
13 Global Web 3.0 Blockchain Market Outlook, By Smart Contracts (2021-2030) ($MN)
14 Global Web 3.0 Blockchain Market Outlook, By Other Applications (2021-2030) ($MN)
15 Global Web 3.0 Blockchain Market Outlook, By End User (2021-2030) ($MN)
16 Global Web 3.0 Blockchain Market Outlook, By BFSI (2021-2030) ($MN)
17 Global Web 3.0 Blockchain Market Outlook, By Retail & E-commerce (2021-2030) ($MN)
18 Global Web 3.0 Blockchain Market Outlook, By Media & Entertainment (2021-2030) ($MN)
19 Global Web 3.0 Blockchain Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
20 Global Web 3.0 Blockchain Market Outlook, By IT & Telecom (2021-2030) ($MN)
21 Global Web 3.0 Blockchain Market Outlook, By Other End Users (2021-2030) ($MN)
22 North America Web 3.0 Blockchain Market Outlook, By Country (2021-2030) ($MN)
23 North America Web 3.0 Blockchain Market Outlook, By Type (2021-2030) ($MN)
24 North America Web 3.0 Blockchain Market Outlook, By Public (2021-2030) ($MN)
25 North America Web 3.0 Blockchain Market Outlook, By Private (2021-2030) ($MN)
26 North America Web 3.0 Blockchain Market Outlook, By Consortium (2021-2030) ($MN)
27 North America Web 3.0 Blockchain Market Outlook, By Hybrid (2021-2030) ($MN)
28 North America Web 3.0 Blockchain Market Outlook, By Other Types (2021-2030) ($MN)
29 North America Web 3.0 Blockchain Market Outlook, By Application (2021-2030) ($MN)
30 North America Web 3.0 Blockchain Market Outlook, By Crypto Currency (2021-2030) ($MN)
31 North America Web 3.0 Blockchain Market Outlook, By Conversational AI (2021-2030) ($MN)
32 North America Web 3.0 Blockchain Market Outlook, By Data & Transaction Storage (2021-2030) ($MN)
33 North America Web 3.0 Blockchain Market Outlook, By Payments (2021-2030) ($MN)
34 North America Web 3.0 Blockchain Market Outlook, By Smart Contracts (2021-2030) ($MN)
35 North America Web 3.0 Blockchain Market Outlook, By Other Applications (2021-2030) ($MN)
36 North America Web 3.0 Blockchain Market Outlook, By End User (2021-2030) ($MN)
37 North America Web 3.0 Blockchain Market Outlook, By BFSI (2021-2030) ($MN)
38 North America Web 3.0 Blockchain Market Outlook, By Retail & E-commerce (2021-2030) ($MN)
39 North America Web 3.0 Blockchain Market Outlook, By Media & Entertainment (2021-2030) ($MN)
40 North America Web 3.0 Blockchain Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
41 North America Web 3.0 Blockchain Market Outlook, By IT & Telecom (2021-2030) ($MN)
42 North America Web 3.0 Blockchain Market Outlook, By Other End Users (2021-2030) ($MN)
43 Europe Web 3.0 Blockchain Market Outlook, By Country (2021-2030) ($MN)
44 Europe Web 3.0 Blockchain Market Outlook, By Type (2021-2030) ($MN)
45 Europe Web 3.0 Blockchain Market Outlook, By Public (2021-2030) ($MN)
46 Europe Web 3.0 Blockchain Market Outlook, By Private (2021-2030) ($MN)
47 Europe Web 3.0 Blockchain Market Outlook, By Consortium (2021-2030) ($MN)
48 Europe Web 3.0 Blockchain Market Outlook, By Hybrid (2021-2030) ($MN)
49 Europe Web 3.0 Blockchain Market Outlook, By Other Types (2021-2030) ($MN)
50 Europe Web 3.0 Blockchain Market Outlook, By Application (2021-2030) ($MN)
51 Europe Web 3.0 Blockchain Market Outlook, By Crypto Currency (2021-2030) ($MN)
52 Europe Web 3.0 Blockchain Market Outlook, By Conversational AI (2021-2030) ($MN)
53 Europe Web 3.0 Blockchain Market Outlook, By Data & Transaction Storage (2021-2030) ($MN)
54 Europe Web 3.0 Blockchain Market Outlook, By Payments (2021-2030) ($MN)
55 Europe Web 3.0 Blockchain Market Outlook, By Smart Contracts (2021-2030) ($MN)
56 Europe Web 3.0 Blockchain Market Outlook, By Other Applications (2021-2030) ($MN)
57 Europe Web 3.0 Blockchain Market Outlook, By End User (2021-2030) ($MN)
58 Europe Web 3.0 Blockchain Market Outlook, By BFSI (2021-2030) ($MN)
59 Europe Web 3.0 Blockchain Market Outlook, By Retail & E-commerce (2021-2030) ($MN)
60 Europe Web 3.0 Blockchain Market Outlook, By Media & Entertainment (2021-2030) ($MN)
61 Europe Web 3.0 Blockchain Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
62 Europe Web 3.0 Blockchain Market Outlook, By IT & Telecom (2021-2030) ($MN)
63 Europe Web 3.0 Blockchain Market Outlook, By Other End Users (2021-2030) ($MN)
64 Asia Pacific Web 3.0 Blockchain Market Outlook, By Country (2021-2030) ($MN)
65 Asia Pacific Web 3.0 Blockchain Market Outlook, By Type (2021-2030) ($MN)
66 Asia Pacific Web 3.0 Blockchain Market Outlook, By Public (2021-2030) ($MN)
67 Asia Pacific Web 3.0 Blockchain Market Outlook, By Private (2021-2030) ($MN)
68 Asia Pacific Web 3.0 Blockchain Market Outlook, By Consortium (2021-2030) ($MN)
69 Asia Pacific Web 3.0 Blockchain Market Outlook, By Hybrid (2021-2030) ($MN)
70 Asia Pacific Web 3.0 Blockchain Market Outlook, By Other Types (2021-2030) ($MN)
71 Asia Pacific Web 3.0 Blockchain Market Outlook, By Application (2021-2030) ($MN)
72 Asia Pacific Web 3.0 Blockchain Market Outlook, By Crypto Currency (2021-2030) ($MN)
73 Asia Pacific Web 3.0 Blockchain Market Outlook, By Conversational AI (2021-2030) ($MN)
74 Asia Pacific Web 3.0 Blockchain Market Outlook, By Data & Transaction Storage (2021-2030) ($MN)
75 Asia Pacific Web 3.0 Blockchain Market Outlook, By Payments (2021-2030) ($MN)
76 Asia Pacific Web 3.0 Blockchain Market Outlook, By Smart Contracts (2021-2030) ($MN)
77 Asia Pacific Web 3.0 Blockchain Market Outlook, By Other Applications (2021-2030) ($MN)
78 Asia Pacific Web 3.0 Blockchain Market Outlook, By End User (2021-2030) ($MN)
79 Asia Pacific Web 3.0 Blockchain Market Outlook, By BFSI (2021-2030) ($MN)
80 Asia Pacific Web 3.0 Blockchain Market Outlook, By Retail & E-commerce (2021-2030) ($MN)
81 Asia Pacific Web 3.0 Blockchain Market Outlook, By Media & Entertainment (2021-2030) ($MN)
82 Asia Pacific Web 3.0 Blockchain Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
83 Asia Pacific Web 3.0 Blockchain Market Outlook, By IT & Telecom (2021-2030) ($MN)
84 Asia Pacific Web 3.0 Blockchain Market Outlook, By Other End Users (2021-2030) ($MN)
85 South America Web 3.0 Blockchain Market Outlook, By Country (2021-2030) ($MN)
86 South America Web 3.0 Blockchain Market Outlook, By Type (2021-2030) ($MN)
87 South America Web 3.0 Blockchain Market Outlook, By Public (2021-2030) ($MN)
88 South America Web 3.0 Blockchain Market Outlook, By Private (2021-2030) ($MN)
89 South America Web 3.0 Blockchain Market Outlook, By Consortium (2021-2030) ($MN)
90 South America Web 3.0 Blockchain Market Outlook, By Hybrid (2021-2030) ($MN)
91 South America Web 3.0 Blockchain Market Outlook, By Other Types (2021-2030) ($MN)
92 South America Web 3.0 Blockchain Market Outlook, By Application (2021-2030) ($MN)
93 South America Web 3.0 Blockchain Market Outlook, By Crypto Currency (2021-2030) ($MN)
94 South America Web 3.0 Blockchain Market Outlook, By Conversational AI (2021-2030) ($MN)
95 South America Web 3.0 Blockchain Market Outlook, By Data & Transaction Storage (2021-2030) ($MN)
96 South America Web 3.0 Blockchain Market Outlook, By Payments (2021-2030) ($MN)
97 South America Web 3.0 Blockchain Market Outlook, By Smart Contracts (2021-2030) ($MN)
98 South America Web 3.0 Blockchain Market Outlook, By Other Applications (2021-2030) ($MN)
99 South America Web 3.0 Blockchain Market Outlook, By End User (2021-2030) ($MN)
100 South America Web 3.0 Blockchain Market Outlook, By BFSI (2021-2030) ($MN)
101 South America Web 3.0 Blockchain Market Outlook, By Retail & E-commerce (2021-2030) ($MN)
102 South America Web 3.0 Blockchain Market Outlook, By Media & Entertainment (2021-2030) ($MN)
103 South America Web 3.0 Blockchain Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
104 South America Web 3.0 Blockchain Market Outlook, By IT & Telecom (2021-2030) ($MN)
105 South America Web 3.0 Blockchain Market Outlook, By Other End Users (2021-2030) ($MN)
106 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Country (2021-2030) ($MN)
107 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Type (2021-2030) ($MN)
108 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Public (2021-2030) ($MN)
109 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Private (2021-2030) ($MN)
110 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Consortium (2021-2030) ($MN)
111 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Hybrid (2021-2030) ($MN)
112 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Other Types (2021-2030) ($MN)
113 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Application (2021-2030) ($MN)
114 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Crypto Currency (2021-2030) ($MN)
115 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Conversational AI (2021-2030) ($MN)
116 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Data & Transaction Storage (2021-2030) ($MN)
117 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Payments (2021-2030) ($MN)
118 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Smart Contracts (2021-2030) ($MN)
119 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Other Applications (2021-2030) ($MN)
120 Middle East & Africa Web 3.0 Blockchain Market Outlook, By End User (2021-2030) ($MN)
121 Middle East & Africa Web 3.0 Blockchain Market Outlook, By BFSI (2021-2030) ($MN)
122 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Retail & E-commerce (2021-2030) ($MN)
123 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Media & Entertainment (2021-2030) ($MN)
124 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
125 Middle East & Africa Web 3.0 Blockchain Market Outlook, By IT & Telecom (2021-2030) ($MN)
126 Middle East & Africa Web 3.0 Blockchain Market Outlook, By Other End Users (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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