Facial Recognition Market by Component, Technology and End User - Global Industry Analysis and Forecast to 2023
Published On : January 2018 Pages : 105 Category: Electronic Security Report Code : SE01544
Industry Outlook and Trend Analysis
The global Facial Recognition Market was worth USD 2.78 billion in 2017 and is expected to reach approximately USD 8.96 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 13.87% during the forecast period. The development of the worldwide facial recognition market is foreseen to be driven by different components, for example, the expanding requirement for upgraded surveillance and observing at public spots and the expanding usage of facial recognition technologies in enterprises, for example, the government. The expanding reliance of end-users on sites and web applications is offering ascend to an expanding number of data and identity theft cases. Additionally, the expanding unpredictability of these attacks is driving end-users to adopt secure confirmation arrangements. This expands the usage of biometric security solutions as they are a standout amongst the most secure validation arrangements due to their capacity to consolidate the physical and behavioural highlights of the end-users that are hard to forge.
Component Outlook and Trend Analysis
Because of the developing awareness among various industries about the highlights of facial recognition advancements and the rising requirement for a more secured biometric system, the interest for facial acknowledgment framework is said to increment comprehensively. Facial recognition services play an essential part in face recognition and detection, and include consulting and training administrations and cloud-based facial recognition services. Facial recognition services are offered for governments, military, retail, homeland security, and healthcare.
Technology Outlook and Trend Analysis
The 3D facial recognition technology is autonomous of illumination, which empowers it to capture high-quality pictures in uncontrolled conditions, for example, dim as well as totally dark zones. The 3D facial model beats the disadvantages of the 2D facial acknowledgment innovation. The 3D facial acknowledgment advancements have a high potential to verify, analyse, and identify the facial attributes of people.
End User Outlook and Trend Analysis
Based on end-user vertical, the facial recognition market is divided into government, enterprises, and opposite end-users. The other end-users portion incorporates automotive, casinos, mobile application, public places, and Homeland Security, out of which, the administration end-use vertical is foreseen to develop at the most astounding CAGR amid the conjecture time frame.
Regional Outlook and Trend Analysis
North America is anticipated to have the biggest market measure in the facial recognition market amid the gauge time frame. The North American region has indicated expanded interests in the market, and a few sellers have advanced to take into account the quickly developing business sector. An impressive development is normal in the locale amid the conjecture time frame.
Competitive Insights
The leading players in the market are Ayonix Corp, Cognitec Systems, Animetrics, Safran Identity and Security, KeyLemon, Techno Brain, Gemalto, Aware, NEC and Herta Security. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Facial Recognition Market is segmented as follows-
By Component:
- Services
- Training and consulting services
- Cloud-based facial recognition services
- Software tools
- Thermal face recognition
- 2D facial recognition
By Technology:
- Solution type
- Databases
- Facial recognition software and Software Development Kit (SDK)
- Modeling and restructuring
- Analytics solutions
By End User:
- Enterprises
- Government
- Other end-users (casinos, public places, automotive, mobile application, and home security systems)
By Region
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia Pacific
- Rest of the World
- Brazil
- South Africa
- Saudi Arabia
- United Arab Emirates
- Others
Some of the key questions answered by the report are:
- What was the market size in 2017 and forecast from 2017 to 2023?
- What will be the industry market growth from 2017 to 2023?
- What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
- What are the major segments leading the market growth and why?
- Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Market Classification
· Facial Recognition Market, By Component, Estimates and Forecast, 2013-2023 ($Million)
o Services
§ Training and consulting services
§ Cloud-based facial recognition services
o Software tools
§ Thermal face recognition
§ 2D facial recognition
· Facial Recognition Market, By Technology, Estimates and Forecast, 2013-2023 ($Million)
o Solution Type
o Databases
o Facial recognition software and Software Development Kit (SDK)
o Modeling and restructuring
o Analytics solutions
· Facial Recognition Market, By End User, Estimates and Forecast, 2013-2023 ($Million)
o Enterprises
o Government
o Other End-Users (casinos, public places, automotive, mobile application, and home security systems)
· Facial Recognition Market, By Region, Estimates and Forecast, 2013-2023 ($Million)
o North America
§ North America Facial Recognition Market, By Country
o U.S. Facial Recognition Market
o Canada Facial Recognition Market
o Mexico Facial Recognition Market
o Europe
§ Europe Facial Recognition Market, By Country
o Germany Facial Recognition Market
o UK Facial Recognition Market
o France Facial Recognition Market
o Russia Facial Recognition Market
o Italy Facial Recognition Market
o Rest of Europe Facial Recognition Market
o Asia-Pacific
§ Asia-Pacific Facial Recognition Market, By Country
o China Facial Recognition Market
o Japan Facial Recognition Market
o South Korea Facial Recognition Market
o India Facial Recognition Market
o Southeast Asia Facial Recognition Market
o Rest of Asia-Pacific Facial Recognition Market
o South America
§ South America Facial Recognition Market
o Brazil Facial Recognition Market
o Argentina Facial Recognition Market
o Columbia Facial Recognition Market
o South Africa Facial Recognition Market
o Rest of South America Facial Recognition Market
o Middle East and Africa
§ Middle East and Africa Facial Recognition Market
o Saudi Arabia Facial Recognition Market
o UAE Facial Recognition Market
o Egypt Facial Recognition Market
o Nigeria Facial Recognition Market
o South Africa Facial Recognition Market
Rest of MEA Facial Recognition Market
Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Expanding requirement for upgraded surveillance
3.2.2. Restraints
3.2.3. Opportunities
4. Market Analysis by Regions
4.1. North America (United States, Canada and Mexico)
4.1.1. United States Market States and Outlook (2013-2023)
4.1.2. Canada Market States and Outlook (2013-2023)
4.1.3. Mexico Market States and Outlook (2013-2023)
4.2. Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
4.2.1. Germany Market States and Outlook (2013-2023)
4.2.2. France Market States and Outlook (2013-2023)
4.2.3. UK Market States and Outlook (2013-2023)
4.2.4. Russia Market States and Outlook (2013-2023)
4.2.5. Italy Market States and Outlook (2013-2023)
4.2.6. Rest of Europe Market States and Outlook (2013-2023)
4.3. Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Rest of Asia-Pacific)
4.3.1. China Market States and Outlook (2013-2023)
4.3.2. Japan Market States and Outlook (2013-2023)
4.3.3. Korea Market States and Outlook (2013-2023)
4.3.4. India Market States and Outlook (2013-2023)
4.3.5. Rest of Asia-Pacific Market States and Outlook (2013-2023)
4.4. South America (Brazil, Argentina, Columbia and Rest of South America)
4.4.1. Brazil Market States and Outlook (2013-2023)
4.4.2. Argentina Market States and Outlook (2013-2023)
4.4.3. Columbia Market States and Outlook (2013-2023)
4.4.4. Rest of South America Market States and Outlook (2013-2023)
4.5. Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of MEA)
4.5.1. Saudi Arabia Market States and Outlook (2013-2023)
4.5.2. UAE Market States and Outlook (2013-2023)
4.5.3. Egypt Market States and Outlook (2013-2023)
4.5.4. Nigeria Market States and Outlook (2013-2023)
4.5.5. South Africa Market States and Outlook (2013-2023)
4.5.6. Rest of MEA Market States and Outlook (2013-2023)
5. Facial Recognition Market, By Component
5.1. Introduction
5.2. Global Facial Recognition Sales, Revenue and Market Share by Component (2013-2027)
5.2.1. Global Facial Recognition Sales and Sales Share by Component (2013-2027)
5.2.2. Global Facial Recognition Revenue and Revenue Share by Component (2013-2027)
5.3. Services
5.3.1. Market Assessment and Forecast, By Type, 2017-2023($Billion)
5.3.2. Global Services Sales and Growth Rate (2013-2027)
5.3.3. Training and consulting services
5.3.3.1. Global Training and consulting services Sales and Growth Rate (2013-2027)
5.3.4. Cloud-based facial recognition services
5.3.4.1. Global Cloud-based facial recognition services Sales and Growth Rate (2013-2027)
5.4. Software tools
5.4.1. Market Assessment and Forecast, By Type, 2017-2023($Billion)
5.4.2. Global Services Sales and Growth Rate (2013-2027)
5.4.3. Thermal face recognition
5.4.3.1. Global Thermal face recognition Sales and Growth Rate (2013-2027)
5.4.4. 2D facial recognition
5.4.4.1. Global 2D facial recognition Sales and Growth Rate (2013-2027)
6. Facial Recognition Market, By Technology
6.1. Introduction
6.2. Global Facial Recognition Sales, Revenue and Market Share by Technology (2013-2027)
6.2.1. Global Facial Recognition Sales and Sales Share by Technology (2013-2027)
6.2.2. Global Facial Recognition Revenue and Revenue Share by Technology (2013-2027)
6.3. Solution Type
6.3.1. Global Solution Type Sales and Growth Rate (2013-2027)
6.4. Databases
6.4.1. Global Databases Sales and Growth Rate (2013-2027)
6.5. Facial recognition software and Software Development Kit (SDK)
6.5.1. Global Facial recognition software and Software Development Kit (SDK) Sales and Growth Rate (2013-2027)
6.6. Modeling and restructuring
6.6.1. Global Modeling and restructuring Sales and Growth Rate (2013-2027)
6.7. Analytics solutions
6.7.1. Global Analytics solutions Sales and Growth Rate (2013-2027)
7. Facial Recognition Market, By End User
7.1. Introduction
7.2. Global Facial Recognition Sales, Revenue and Market Share by End User (2013-2027)
7.2.1. Global Facial Recognition Sales and Sales Share by End User (2013-2027)
7.2.2. Global Facial Recognition Revenue and Revenue Share by End User (2013-2027)
7.3. Enterprises
7.3.1. Global Enterprises Sales and Growth Rate (2013-2027)
7.4. Government
7.4.1. Global Government Sales and Growth Rate (2013-2027)
7.5. Other End-Users (casinos, public places, automotive, mobile application, and home security systems)
7.5.1. Global Other End-User Sales and Growth Rate (2013-2027)
8. Facial Recognition Market, By Region
8.1. Introduction
8.2. Global Facial Recognition Sales, Revenue and Market Share by Regions
8.2.1. Global Facial Recognition Sales by Regions (2013-2027)
8.2.2. Global Facial Recognition Revenue by Regions (2013-2027)
8.3. North America Facial Recognition by Countries
8.3.1. North America Facial Recognition Sales and Growth Rate (2013-2027)
8.3.2. North America Facial Recognition Revenue and Growth Rate (2013-2027)
8.3.3. North America Facial Recognition Sales by Countries (2013-2027)
8.3.4. North America Facial Recognition Revenue (Million USD) by Countries (2013-2027)
8.3.5. U.S.
8.3.5.1. United States Facial Recognition Sales and Growth Rate (2013-2027)
8.3.5.2. United States Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.3.6. Canada
8.3.6.1. Canada Facial Recognition Sales and Growth Rate (2013-2027)
8.3.6.2. Canada Facial Recognition Sales (Millions USD) and Growth Rate (2013-2027)
8.3.7. Mexico
8.3.7.1. Mexico Facial Recognition Sales and Growth Rate (2013-2027)
8.3.7.2. Mexico Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.4. Europe Facial Recognition by Countries
8.4.1. Europe Facial Recognition Sales and Growth Rate (2013-2027)
8.4.2. Europe Facial Recognition Revenue and Growth Rate (2013-2027)
8.4.3. Europe Facial Recognition Sales by Countries (2013-2027)
8.4.4. Europe Facial Recognition Revenue (Million USD) by Countries (2013-2027)
8.4.5. Germany
8.4.5.1. Germany Facial Recognition Sales and Growth Rate (2013-2027)
8.4.5.2. Germany Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.4.6. UK
8.4.6.1. UK Facial Recognition Sales and Growth Rate (2013-2027)
8.4.6.2. UK Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.4.7. France
8.4.7.1. France Facial Recognition Sales and Growth Rate (2013-2027)
8.4.7.2. France Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.4.8. Russia
8.4.8.1. Russia Facial Recognition Sales and Growth Rate (2013-2027)
8.4.8.2. Russia Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.4.9. Italy
8.4.9.1. Italy Facial Recognition Sales and Growth Rate (2013-2027)
8.4.9.2. Italy Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.4.10. Rest of Europe
8.4.10.1. Rest of Europe Facial Recognition Sales and Growth Rate (2013-2027)
8.4.10.2. Rest of Europe Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.5. Asia-Pacific
8.5.1. Asia-Pacific Facial Recognition Sales and Growth Rate (2013-2027)
8.5.2. Asia-Pacific Facial Recognition Revenue and Growth Rate (2013-2027)
8.5.3. Asia-Pacific Facial Recognition Sales by Countries (2013-2027)
8.5.4. Asia-Pacific Facial Recognition Revenue (Million USD) by Countries (2013-2027)
8.5.5. China
8.5.5.1. China Facial Recognition Sales and Growth Rate (2013-2027)
8.5.5.2. China Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.5.6. Japan
8.5.6.1. Japan Facial Recognition Sales and Growth Rate (2013-2027)
8.5.6.2. Japan Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.5.6.3.
8.5.7. Korea
8.5.7.1. Korea Facial Recognition Sales and Growth Rate (2013-2027)
8.5.7.2. Korea Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.5.8. India
8.5.8.1. India Facial Recognition Sales and Growth Rate (2013-2027)
8.5.8.2. India Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.5.9. Southeast Asia
8.5.9.1. Southeast Asia Facial Recognition Sales and Growth Rate (2013-2027)
8.5.9.2. Southeast Asia Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.5.10. Rest of Asia-Pacific
8.5.10.1. Rest of Asia-Pacific Facial Recognition Sales and Growth Rate (2013-2027)
8.5.10.2. Rest of Asia-Pacific Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.6. South America
8.6.1. South America Facial Recognition Sales and Growth Rate (2013-2027)
8.6.2. South America Facial Recognition Revenue and Growth Rate (2013-2027)
8.6.3. South America Facial Recognition Sales by Countries (2013-2027)
8.6.4. South America Facial Recognition Revenue (Million USD) by Countries (2013-2027)
8.6.5. Brazil
8.6.5.1. Brazil Facial Recognition Sales and Growth Rate (2013-2027)
8.6.5.2. Brazil Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.6.6. Argentina
8.6.6.1. Argentina Facial Recognition Sales and Growth Rate (2013-2027)
8.6.6.2. Argentina Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.6.7. Columbia
8.6.7.1. Columbia Facial Recognition Sales and Growth Rate (2013-2027)
8.6.7.2. Columbia Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.6.8. Rest of South America
8.6.8.1. Rest of South America Facial Recognition Sales and Growth Rate (2013-2027)
8.6.8.2. Rest of South America Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.7. Middle East and Africa
8.7.1. Middle East and Africa Facial Recognition Sales and Growth Rate (2013-2027)
8.7.2. Middle East and Africa Facial Recognition Revenue and Growth Rate (2013-2027)
8.7.3. Middle East and Africa Facial Recognition Sales by Countries (2013-2027)
8.7.4. Middle East and Africa Facial Recognition Revenue (Million USD) by Countries (2013-2027)
8.7.5. Saudi Arabia
8.7.5.1. Saudi Arabia Facial Recognition Sales and Growth Rate (2013-2027)
8.7.5.2. Saudi Arabia Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.7.6. United Arab Emirates
8.7.6.1. United Arab Emirates Facial Recognition Sales and Growth Rate (2013-2027)
8.7.6.2. United Arab Emirates Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.7.7. Egypt
8.7.7.1. Egypt Facial Recognition Sales and Growth Rate (2013-2027)
8.7.7.2. Egypt Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.7.8. Nigeria
8.7.8.1. Nigeria Facial Recognition Sales and Growth Rate (2013-2027)
8.7.8.2. Nigeria Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.7.9. South Africa
8.7.9.1. South Africa Facial Recognition Sales and Growth Rate (2013-2027)
8.7.9.2. South Africa Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
8.7.10. Rest of Middle East and Africa
8.7.10.1. Rest of Middle East and Africa Facial Recognition Sales and Growth Rate (2013-2027)
8.7.10.2. Rest of Middle East and Africa Facial Recognition Revenue (Millions USD) and Growth Rate (2013-2027)
9. Company Profiles
9.1. Ayonix Corp.
9.1.1. Business Overview
9.1.2. Product Portfolio
9.1.3. Strategic Developments
9.1.4. Sales, Revenue and Market Share
9.2. Cognitec Systems
9.2.1. Business Overview
9.2.2. Product Portfolio
9.2.3. Strategic Developments
9.2.4. Sales, Revenue and Market Share
9.3. Animetrics
9.3.1. Business Overview
9.3.2. Product Portfolio
9.3.3. Strategic Developments
9.3.4. Sales, Revenue and Market Share
9.4. Safran Identity and Security
9.4.1. Business Overview
9.4.2. Product Portfolio
9.4.3. Strategic Developments
9.4.4. Sales, Revenue and Market Share
9.5. KeyLemon
9.5.1. Business Overview
9.5.2. Product Portfolio
9.5.3. Strategic Developments
9.5.4. Sales, Revenue and Market Share
9.6. Techno Brain
9.6.1. Business Overview
9.6.2. Product Portfolio
9.6.3. Strategic Developments
9.6.4. Sales, Revenue and Market Share
9.7. Gemalto
9.7.1. Business Overview
9.7.2. Product Portfolio
9.7.3. Strategic Developments
9.7.4. Sales, Revenue and Market Share
9.8. Aware
9.8.1. Business Overview
9.8.2. Product Portfolio
9.8.3. Strategic Developments
9.8.4. Sales, Revenue and Market Share
9.9. NEC
9.9.1. Business Overview
9.9.2. Product Portfolio
9.9.3. Strategic Developments
9.9.4. Sales, Revenue and Market Share
9.10. Herta Security.
9.10.1. Business Overview
9.10.2. Product Portfolio
9.10.3. Strategic Developments
9.10.4. Sales, Revenue and Market Share
10. Global Facial Recognition Market Competition, by Manufacturer
10.1. Global Facial Recognition Sales and Market Share by Manufacturer (2017-2017)
10.2. Global Facial Recognition Revenue and Market Share by Manufacturer (2017-2017)
10.3. Global Facial Recognition Price by Manufacturer (2017-2017)
10.4. Top 5 Facial Recognition Manufacturer Market Share
10.5. Market Competition Trend
11. Facial Recognition Market Forecast (2027-2023)
11.1. Global Facial Recognition Sales, Revenue (Millions USD) and Growth Rate (2027-2023)
11.2. Facial Recognition Market Forecast by Regions (2027-2023)
11.2.1. North America Facial Recognition Market Forecast (2027-2023)
11.2.1.1. United States Facial Recognition Market Forecast (2027-2023)
11.2.1.2. Canada Facial Recognition Market Forecast (2027-2023)
11.2.1.3. Mexico Facial Recognition Market Forecast (2027-2023)
11.2.2. Europe Facial Recognition Market Forecast (2027-2023)
11.2.2.1. Germany Facial Recognition Market Forecast (2027-2023)
11.2.2.2. United Kingdom Facial Recognitions Market Forecast (2027-2023)
11.2.2.3. France Facial Recognition Market Forecast (2027-2023)
11.2.2.4. Russia Facial Recognition Market Forecast (2027-2023)
11.2.2.5. Italy Facial Recognition Market Forecast (2027-2023)
11.2.2.6. Rest of the Europe Facial Recognition Market Forecast (2027-2023)
11.2.3. Asia-Pacific Facial Recognition Market Forecast (2027-2023)
11.2.3.1. China Facial Recognition Market Forecast (2027-2023)
11.2.3.2. Japan Facial Recognition Market Forecast (2027-2023)
11.2.3.3. Korea Facial Recognition Market Forecast (2027-2023)
11.2.3.4. India Facial Recognition Market Forecast (2027-2023)
11.2.3.5. Southeast Asia Facial Recognition Market Forecast (2027-2023)
11.2.3.6. Rest of Asia-Pacific Facial Recognition Market Forecast (2027-2023)
11.2.4. South America Facial Recognition Market Forecast (2027-2023)
11.2.4.1. Brazil Facial Recognition Market Forecast (2027-2023)
11.2.4.2. Argentina Facial Recognition Market Forecast (2027-2023)
11.2.4.3. Columbia Facial Recognition Market Forecast (2027-2023)
11.2.4.4. Rest of South America Facial Recognition Market Forecast (2027-2023)
11.2.5. Middle East and Africa Facial Recognition Market Forecast (2027-2023)
11.2.5.1. Saudi Arabia Facial Recognition Market Forecast (2027-2023)
11.2.5.2. UAE Facial Recognition Market Forecast (2027-2023)
11.2.5.3. Egypt Facial Recognition Market Forecast (2027-2023)
11.2.5.4. Nigeria Facial Recognition Market Forecast (2027-2023)
11.2.5.5. South Africa Facial Recognition Market Forecast (2027-2023)
11.2.5.6. Rest of MEA Facial Recognition Market Forecast (2027-2023)
11.3. Facial Recognition Market Forecast by Component (2027-2023)
11.3.1. Global Facial Recognition Sales Forecast by Component (2027-2023)
11.3.2. Global Facial Recognition Sales Market Share Forecast by Component (2027-2023)
11.4. Facial Recognition Market Forecast by Technology (2027-2023)
11.4.1. Global Facial Recognition Sales Forecast by Technology (2027-2023)
11.4.2. Global Facial Recognition Sales Market Share Forecast by Technology (2027-2023)
11.5. Facial Recognition Market Forecast by End User (2027-2023)
11.5.1. Global Facial Recognition Sales Forecast by End User (2027-2023)
11.5.2. Global Facial Recognition Sales Market Share Forecast by End User (2027-2023)
List of Tables
*You can glance through the list of Tables and Figures when you view the sample copy of Facial Recognition Market.
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
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Data Collection Matrix |
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Demand Side |
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Secondary Data Sources |
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Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
Data Validation
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Data Triangulation
Industry Analysis
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Qualitative Data |
Quantitative Data (2017-2025) |
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