Our Estimation Methodology follows a customer-focused approach, where our dedicated research team works for specific client requirements. We employ a team of experts to analyze the historical data, market trends and upcoming revolutions in order to produce the market sizing estimates and forecasts for each of the reports as well as for customized studies. Our estimation methodology leverages a data triangulation model which helps us to gauge the market dynamics. Provided below is the detailed description our research process and estimation methodology.
Research Process : The research starts with the extensive procurement process of data/information and statistics from company annual reports, government websites, statistic agencies and paid databases. This information creates a base for the study. This information also helps to define the scope and to narrow down the area for study for the market. This raw information is processed and analyzed to extract crisp data points which currently affect or are likely to affect the industry over the forecast period. After analyzing the information, a proprietary market estimation & forecast technique is applied, which generates the quantitative figures/sizes of the market/sub-segments in the current scenario as well as for over the forecast period.
After populating the market sizes & estimates, numbers are verified with the industry participants and key opinion leaders. The wide network of industry participants performs a value addition in the research and verify the numbers & estimates of the study. In the last stage of the research process, a final report is prepared which is then published in different websites as well as distributed through various channels. Below figure contains the different stages of the whole research performed to produce the report.
Data Mining :
Data mining is one of the extensive stages of our Estimation Methodology. It involves the procurement of market data and related information through different verified & credible sources. This step helps to obtain the raw information about the supply chain of the industry, the monetary process of different Components & End-Uses, the pool of market participants & the nature of the industry and the scope of the study. The data mining stage comprises both primary as well as secondary sources of information. Some of the key data sources are as follows.
Secondary Research :
In the process of secondary research, various sources are referred to identify and collect industry trends and information for the research process. We at Bizwit Research have the access to some of the most diversified and extensive paid databases which give us the most accurate data/information on markets sizes, Components and pricing.
Primary Research :
In primary research process for data mining, various key industry participants from both supply and demand side are interviewed to obtain both qualitative as well as quantitative information on the market. In-depth interviews with key primary respondents, including industry professionals, subject matter experts (SMEs), industry consultants, and C-level executives of major companies are conducted to obtain critical qualitative and quantitative aspects pertaining to the market, as well as to assess the prospects for market growth over the forecast period.
This step involves the analysis & mapping of all the information procured from the previous step. This step also encompasses the scrutiny of data discrepancies observed across various data sources and finalizing the appropriate data for estimation and forecasting. This analysis is done by our experienced panel of industry analysts.
Understanding and penetrating the market in terms of valuation is a crucial task in the process of business research. This again becomes significantly important while investing and choosing the business opportunities. In this regard, we at Bizwit Research performs two ways market sizing approach simultaneously namely top-down and bottom-up approaches. In this step, we place different data points, numeric attributes, information and industry trends at an appropriate space in order to deduce the estimates & forecast values over the coming years. We use different mathematical models to estimate the market sizes of different economies and segments. Each of which is further summed up to define the total market.
We at Bizwit Research owns a proprietary tool for market estimations which helps us to comprehend market size estimates & forecasts for different markets and industries. Below figure explains the process of market estimation using independent tool employed by our analysts to get the sizing of the market.
Analyst perspective & subject-matter-expert based heuristic form of market sizing also plays an integral role in this step. For forecasting the current estimates, following parameters are considered:
- Market driving trends and favorable economic conditions
- Restraints and challenges to be faced over the forecast period
- Anticipated opportunities
- Technological scenario and projected developments
- Consumer spending trends and dynamics
- Movements in consumer preference
As a part of the market engineering, both ‘top-down’, as well as ‘bottom-up’ approaches, are extensively utilized along with data triangulation models to derive & verify the market sizes & forecast over the coming eight years.
In the bottom-up approach, the revenue of key companies and their shares in the market is assessed to deduce the market size. This approach helps to identify the sub-segment market sizes at country level which then adds up to regional market sizes and global market sizes.
in the top-down approach, the market size is derived from parent market. which is bifurcated to all the sub-segment and regions. For calculating each type of specific market segment, this method is the most appropriate solution. using the output with data triangulation techniques gives the most appropriate market estimates.
After arriving at the overall market sizes, the total market is divided into several segments and sub-segments. Again, market breakdown and data triangulation procedures are implemented wherever applicable, to complete the overall market engineering process and to collect the exact statistics for all segments and sub-segments. The data was triangulated by studying various factors and trends from both demand and supply sides. Along with this, the market was validated by using both top-down and bottom-up approaches.
Validation : Validation is the most important stage of the report making process. Validation via an intricately designed feedback process helps us to finalize the sizing estimates and forecast for the final collation. Extensive primary research is performed to verify the information. This includes telephonic & personal interviews, emails, feedback forms, questionnaires and polling options/answers with the group of relevant people. Validation helps to duly check the authenticity of the key industry trends, market dynamics, company market share, different business models & their conclusions.
We employ our key analysts to conduct the primary research through which they gain the insights over different topics and trends. These analysts formulate the quantitative insights using such primary responses which leads us to derive the growth rates for different micro industries and segments.
After validating and calibrating the market estimates & forecasts, the final report is compiled into different formats such as pdf, work, and excel. These reports are then listed with the top market research stores and publishers. These studies are also listed in our website, where a client can easily purchase the reports. We also offer presentation formats of our reports which can be directly used in seminars and meetings. These presentations will incorporate key industry trends and market estimates & forecasts for the following:
- Global market size estimates and forecasts (2015-2025)
- Segmental market size estimates and forecasts (2015-2025)
- Regional and country level market size estimates and forecasts (2015-2025)
These reports will also include info-graphic for each of the market estimates for better understandings. Please note that, the availability of different formats of the reports are subject to availability and may take up to 3 business days for delivery.