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Digital Experience Platform Market Report Scope & Overview:

The Digital Experience Platform Market size was valued at USD 12.40 Billion in 2023 and is expected to grow to USD 30.26 Billion By 2031 and grow at a CAGR of 11.8% over the forecast period of 2024-2031. 

Digital experience management systems are powerful platforms that enable companies to manage their digital interactions with customers across multiple channels. These software solutions help organizations build strong relationships with clients, partners, employees, and other target markets. By providing personalized experiences and optimizing touchpoints across digital channels, digital experience platforms can help businesses enhance customer engagement and loyalty. One of the key benefits of a digital experience platform is its ability to unify customer data and provide valuable insights that can be used to improve the customer experience.

Digital Experience Platform Market Revenue Analysis

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With the customer's consent, businesses can use these platforms to gather data from multiple sources and gain a deeper understanding of their customer’s needs and preferences. In addition to providing valuable insights, digital experience platforms also help businesses ensure compliance with privacy regulations. By using privacy-friendly methods to enhance customer data, these platforms help businesses maintain the trust of their customers and protect their sensitive information. digital experience management systems are essential tools for any business looking to build strong, long-lasting relationships with their customers. By providing personalized experiences, optimizing touchpoints, and gathering valuable insights, these platforms can help businesses stay ahead of the competition and drive growth in today's digital world.

Market Dynamics

Drivers

  • One of the primary driving factors for the digital experience platform market is the increasing adoption of cloud-based solutions in companies.

The growing popularity of cloud-based solutions in businesses is a key driving force behind the digital experience platform market. This trend has led to a surge in demand for platforms that can provide seamless digital experiences across multiple channels and devices. As companies continue to embrace the benefits of cloud technology, the need for robust and scalable digital experience platforms will only continue to grow.

Restrains

  • Legal Concerns and a Scarcity of Expertise

The legal complications surrounding the management and preservation of the huge volumes of client data made available by digital experience analytics platforms are expected to impede the worldwide market's development trajectory to some extent.  A large population in mostly low-income nations lacks basic knowledge of utilizing multimedia devices or visiting any digital experience site, preventing the industry from achieving its full potential. These issues will cause growth restrictions, stifling market expansion throughout the forecast period.

Opportunities

  • Technology integration

  • Investments have been increased in size.

Challenges

  • Concerns related to security and a lack of infrastructure

Impact of the Russia-Ukraine War

The Russia-Ukraine war has had several potential impacts on the Digital Experience Platform (DXP) market The conflict has caused significant disruption to businesses in Ukraine, including those operating in the technology sector. This disruption can impact the adoption and implementation of DXPs as companies face challenges in maintaining their operations and prioritizing resources. The war has created economic instability in the region, affecting the overall business environment. Uncertainty and financial constraints can lead to reduced investments in technology infrastructure, including DXPs. Organizations may prioritize essential services over digital experience initiatives during times of economic uncertainty. The conflict between Russia and Ukraine has broader geopolitical implications, which can impact the DXM market. It can lead to increased trade barriers, sanctions, and restrictions on international business activities. These factors can hinder the expansion of DXP vendors into the affected regions and limit market growth opportunities. During times of conflict, consumer behavior tends to change. People may focus more on basic needs and become less inclined to engage in discretionary spending. This shift in consumer priorities can impact businesses' demand for DXPs as organizations might experience reduced customer engagement and lower budgets for digital transformation initiatives. In a war or conflict situation, cybersecurity threats tend to rise. Cyberattacks, including state-sponsored hacking and data breaches, become more prevalent. Organizations using DXPs need to enhance their security measures to protect sensitive customer data and intellectual property, thereby increasing their cybersecurity investments.

Impact of the Recession

The impact of a recession on the Digital Experience Platform (DXP) market can be significant. During an economic downturn, organizations often face budget constraints and cost-cutting measures, which can affect their investments in technology, including DXPs, during a recession, companies may reduce their IT budgets, leading to decreased spending on DXPs. Organizations may prioritize essential business operations over digital experience enhancements, resulting in reduced investment in DXPs. Companies may postpone or downsize their plans to implement or upgrade DXPs during a recession. This can be due to uncertainty about the future, limited resources, or a shift in priorities. Consequently, the DXP market may experience slower growth as organizations delay or scale back their adoption plans. Economic downturns often lead to industry consolidation as weaker companies struggle to survive and larger organizations seek strategic partnerships or acquisitions. This consolidation can impact the DXP market, with smaller vendors being acquired or going out of business, resulting in a smaller pool of DXP providers. While overall spending on DXPs may decline, there may be increased demand for cost-effective solutions during a recession. Organizations that still prioritize digital experience initiatives may look for more affordable options or seek vendors that offer flexible pricing models or shorter-term contracts. During tough economic times, organizations tend to emphasize return on investment (ROI) and operational efficiency. DXPs that can demonstrate tangible business value, such as improved customer engagement, increased conversion rates, or streamlined processes, are more likely to be prioritized over discretionary technology investments. Recessions can reshape customer expectations and behavior. Organizations may need to adjust their digital experience strategies to cater to changing customer needs and preferences. This shift may involve reassessing the features and capabilities of their existing DXPs or exploring alternative solutions that better align with evolving customer expectations.

Key Market Segmentation

By Component

By Organization Size

  • Small and Medium Enterprise

  • Large Enterprise

By Deployment Model

  • Cloud

  • On-Premises

By Application

  • Business to Customer

  • Business to Business

By Vertical

  • Retail

  • BFSI

  • Travel and Hospitality

  • IT and Telecom

  • Healthcare

  • Manufacturing

  • Media and Entertainment

  • Education

Regional Analysis

North America has the greatest market size and is expected to increase at an exponential rate over the forecast period. The significant emphasis on customer connection and retention, as well as the large presence of online and traditional retailing channels, are driving development. Furthermore, companies in the region, such as Oracle Corporation, Microsoft Corporation, Salesforce Inc., and others, are among the first to adopt new technology.

During the projection period, APAC is likely to gain dominance in the worldwide market. As a result of the broad adoption of new technologies such as cloud computing, artificial intelligence (AI), and analytics. Furthermore, the presence of growing economies such as China and India, which are fast embracing new technologies, is expected to aid in the growth of the APAC DXP market.

Digital-Experience-Platform-Market-By-Region

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REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Key Players:

The major players are Open Text Corporation, Acquia Inc., SAP SE, International Business Machines Corporation, Liferay, Inc., ADOBE INC., Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., Sitecore, and others in the final report.

International Business Machines Corporation-Company Financial Analysis

Company Landscape Analysis

 

Recent Developments:

Sitecore has teamed with Microsoft Corporation to develop its digital experience platform in the UAE in February 2021. This collaboration delivers customized digital experience capabilities that are fast, scalable, and dependable.

At the virtual SAP customer experience live conference in October 2020, SAP SE introduced its new customer data platform. By merging data from different internal and external sources, such as web sources and social media channels, the new platform enables organizations to create anonymized 360-degree customer profiles.

Digital Experience Platform Market Report Scope:
Report Attributes Details
Market Size in 2023  US$  12.40 Bn
Market Size by 2031  US$ 30.26 Bn
CAGR   CAGR of  11.8% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Component (Platform, Services, Professional Services, Managed Services)
• By Organization Size (Small and Medium Enterprise, Large Enterprise)
• By Deployment Model (Cloud, On-Premises)
• By Application (Business to Customer, Business to Business)
• By Vertical (Retail, BFSI, Travel and Hospitality, IT and Telecom, Healthcare, Manufacturing, Media and Entertainment, Education)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Open Text Corporation, Acquia Inc., SAP SE, International Business Machines Corporation, Liferay, Inc., ADOBE INC., Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., Sitecore
Key Drivers • One of the primary driving factors for the digital experience platform market is the increasing adoption of cloud-based solutions in companies.
Market Opportunities • Technology integration
• Investments have been increased in size.

 

Frequently Asked Questions

Ans: The Digital Experience Platform Market size was valued at USD 11.37 Bn in 2022.

Ans: The Digital Experience Platform Market is growing at a CAGR of 12.03% Over the forecast period 2023-2030.

Ans. The major players are Open Text Corporation, Acquia Inc., SAP SE, International Business Machines Corporation, Liferay, Inc., ADOBE INC., Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., Sitecore, and others in the final report.

Ans: The North American region is dominating the Digital Experience Platform Market.

Ans. The forecast period for the Digital Experience Platform Market is 2023-2030.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Digital Experience Platform Market Segmentation, By Component
8.1 Platform
8.2 Services
8.3 Professional Services
8.4 Managed Services

9. Digital Experience Platform Market Segmentation, By Organization Size
9.1 Small and Medium Enterprise
9.2 Large Enterprise

10. Digital Experience Platform Market Segmentation, By Deployment Model
10.1 Cloud
10.2 On-Premises

11. Digital Experience Platform Market Segmentation, By Application
11.1 Business to Customer
11.2 Business to Business

12. Digital Experience Platform Market Segmentation, By Vertical
12.1 Retail
12.2 BFSI
12.3 Travel and Hospitality
12.4 IT and Telecom
12.5 Healthcare
12.6 Manufacturing
12.7 Media and Entertainment
12.8 Education

13.Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 North America Digital Experience Platform Market By Country
13.2.2North America Digital Experience Platform Market By Component
13.2.3 North America Digital Experience Platform Market By Organization Size
13.2.4 North America Digital Experience Platform Market By Deployment Model
13.2.5 North America Digital Experience Platform Market By Application
13.2.6 North America Digital Experience Platform Market By Vertical
13.2.7 USA
13.2.7.1 USA Digital Experience Platform Market By Component
13.2.7.2 USA Digital Experience Platform Market By Organization Size
13.2.7.3 USA Digital Experience Platform Market By Deployment Model
13.2.7.4 USA Digital Experience Platform Market By Application
13.2.7.5 USA Digital Experience Platform Market By Vertical
13.2.8 Canada
13.2.8.1 Canada Digital Experience Platform Market By Component
13.2.8.2 Canada Digital Experience Platform Market By Organization Size
13.2.8.3 Canada Digital Experience Platform Market By Deployment Model
13.2.8.4 Canada Digital Experience Platform Market By Application
13.2.8.5 Canada Digital Experience Platform Market By Vertical
13.2.9 Mexico
13.2.9.1 Mexico Digital Experience Platform Market By Component
13.2.9.2 Mexico Digital Experience Platform Market By Organization Size
13.2.9.3 Mexico Digital Experience Platform Market By Deployment Model
13.2.9.4 Mexico Digital Experience Platform Market By Application
13.2.9.5 Mexico Digital Experience Platform Market By Vertical
13.3 Europe
13.3.1 Europe Digital Experience Platform Market By country
13.3.2 Europe Digital Experience Platform Market By Component
13.3.3 Europe Digital Experience Platform Market By Organization Size
13.3.4 Europe Digital Experience Platform Market By Deployment Model
13.3.5 Europe Digital Experience Platform Market By Application
13.3.6 Europe Digital Experience Platform Market By Vertical
13.3.7 Germany
13.3.7.1 Germany Digital Experience Platform Market By Component
13.3.7.2 Germany Digital Experience Platform Market By Organization Size
13.3.7.3 Germany Digital Experience Platform Market By Deployment Model
13.3.7.4 Germany Digital Experience Platform Market By Application
13.3.7.5 Germany Digital Experience Platform Market By Vertical
13.3.8 UK
13.3.8.1 UK Digital Experience Platform Market By Component
13.3.8.2 UK Digital Experience Platform Market By Organization Size
13.3.8.3 UK Digital Experience Platform Market By Deployment Model
13.3.8.4 UK Digital Experience Platform Market By Application
13.3.8.5 UK Digital Experience Platform Market By Vertical
13.3.9 France
13.3.9.1 France Digital Experience Platform Market By Component
13.3.9.2 France Digital Experience Platform Market By Organization Size
13.3.9.3 France Digital Experience Platform Market By Deployment Model
13.3.9.4 France Digital Experience Platform Market By Application
13.3.9.5 France Digital Experience Platform Market By Vertical
13.3.10 Italy
13.3.10.1 Italy Digital Experience Platform Market By Component
13.3.10.2 Italy Digital Experience Platform Market By Organization Size
13.3.10.3 Italy Digital Experience Platform Market By Deployment Model
13.3.10.4 Italy Digital Experience Platform Market By Application
13.3.10.5 Italy Digital Experience Platform Market By Vertical
13.3.11 Spain
13.3.11.1 Spain Digital Experience Platform Market By Component
13.3.11.2 Spain Digital Experience Platform Market By Organization Size
13.3.11.3 Spain Digital Experience Platform Market By Deployment Model
13.3.11.4 Spain Digital Experience Platform Market By Application
13.3.11.5 Spain Digital Experience Platform Market By Vertical
13.3.12 The Netherlands
13.3.12.1 Netherlands Digital Experience Platform Market By Component
13.3.12.2 Netherlands Digital Experience Platform Market By Organization Size
13.3.12.3 Netherlands Digital Experience Platform Market By Deployment Model
13.3.12.4 Netherlands Digital Experience Platform Market By Application
13.3.12.5 Netherlands Digital Experience Platform Market By Vertical
13.3.13 Rest of Europe
13.3.13.1 Rest of Europe Digital Experience Platform Market By Component
13.3.13.2 Rest of Europe Digital Experience Platform Market By Organization Size
13.3.13.3 Rest of Europe Digital Experience Platform Market By Deployment Model
13.3.13.4 Rest of Europe Digital Experience Platform Market By Application
13.3.13.5 Rest of Europe Digital Experience Platform Market By Vertical
13.4 Asia-Pacific
13.4.1 Asia Pacific Digital Experience Platform Market By country
13.4.2 Asia Pacific Digital Experience Platform Market By Component
13.4.3 Asia Pacific Digital Experience Platform Market By Organization Size
13.4.4Asia Pacific Digital Experience Platform Market By Deployment Model
13.4.5Asia Pacific Digital Experience Platform Market By Application
13.4.6 Asia Pacific Digital Experience Platform Market By Vertical
13.4.7 Japan
13.4.7.1 Japan Digital Experience Platform Market By Component
13.4.7.2 Japan Digital Experience Platform Market By Organization Size
13.4.7.3 Japan Digital Experience Platform Market By Deployment Model
13.4.7.4 Japan Digital Experience Platform Market By Application
13.4.7. 5Japan Digital Experience Platform Market By Vertical
13.4.8South Korea
13.4.8.1 South Korea Digital Experience Platform Market By Component
13.4.8.2 South Korea Digital Experience Platform Market By Organization Size
13.4.8.3 South Korea Digital Experience Platform Market By Deployment Model
13.4.8.4 South Korea Digital Experience Platform Market By Application
13.4.8.5 South Korea Digital Experience Platform Market By Vertical
13.4.9 China
13.4.9.1 China Digital Experience Platform Market By Component
13.4.9.2 China Digital Experience Platform Market By Organization Size
13.4.9.3 China Digital Experience Platform Market By Deployment Model
13.4.9.4 China Digital Experience Platform Market By Application
13.4.9.5 China Digital Experience Platform Market By Vertical
13.4.10 India
13.4.10.1 India Digital Experience Platform Market By Component
13.4.10.2 India Digital Experience Platform Market By Organization Size
13.4.10.3 India Digital Experience Platform Market By Deployment Model
13.4.10.4 India Digital Experience Platform Market By Application
13.4.10.5 India Digital Experience Platform Market By Vertical
13.4.11 Australia
13.4.11.1 Australia Digital Experience Platform Market By Component
13.4.11.2 Australia Digital Experience Platform Market By Organization Size
13.4.11.3 Australia Digital Experience Platform Market By Deployment Model
13.4.11.4 Australia Digital Experience Platform Market By Application
13.4.11.5 Australia Digital Experience Platform Market By Vertical
13.4.12 Rest of Asia-Pacific
13.4.12.1 APAC Digital Experience Platform Market By Component
13.4.12.2 APAC Digital Experience Platform Market By Organization Size
13.4.12.3 APAC Digital Experience Platform Market By Deployment Model
13.4.12.4 APAC Digital Experience Platform Market By Application
13.4.12.5 APAC Digital Experience Platform Market By Vertical
13.5 The Middle East & Africa
13.5.1 The Middle East & Africa Digital Experience Platform Market By country
13.5.2 The Middle East & Africa Digital Experience Platform Market By Component
13.5.3 The Middle East & Africa Digital Experience Platform Market By Organization Size
13.5.4The Middle East & Africa Digital Experience Platform Market By Deployment Model
13.5.5 The Middle East & Africa Digital Experience Platform Market By Application
13.5.6The Middle East & Africa Digital Experience Platform Market By Vertical
13.5.7 Israel
13.5.7.1 Israel Digital Experience Platform Market By Component
13.5.7.2 Israel Digital Experience Platform Market By Organization Size
13.5.7.3 Israel Digital Experience Platform Market By Deployment Model
13.5.7.4 Israel Digital Experience Platform Market By Application
13.5.7.5 Israel Digital Experience Platform Market By Vertical
13.5.8 UAE
13.5.8.1 UAE Digital Experience Platform Market By Component
13.5.8.2 UAE Digital Experience Platform Market By Organization Size
13.5.8.3 UAE Digital Experience Platform Market By Deployment Model
13.5.8.4 UAE Digital Experience Platform Market By Application
13.5.8.5 UAE Digital Experience Platform Market By Vertical
13.5.9South Africa
13.5.9.1 South Africa Digital Experience Platform Market By Component
13.5.9.2 South Africa Digital Experience Platform Market By Organization Size
13.5.9.3 South Africa Digital Experience Platform Market By Deployment Model
13.5.9.4 South Africa Digital Experience Platform Market By Application
13.5.9.5 South Africa Digital Experience Platform Market By Vertical
13.5.10 Rest of Middle East & Africa
13.5.10.1 Rest of Middle East & Asia Digital Experience Platform Market By Component
13.5.10.2 Rest of Middle East & Asia Digital Experience Platform Market By Organization Size
13.5.10.3 Rest of Middle East & Asia Digital Experience Platform Market By Deployment Model
13.5.10.4 Rest of Middle East & Asia Digital Experience Platform Market By Application
13.5.10.5 Rest of Middle East & Asia Digital Experience Platform Market By Vertical
13.6 Latin America
13.6.1 Latin America Digital Experience Platform Market By Country
13.6.2 Latin America Digital Experience Platform Market By Component
13.6.3 Latin America Digital Experience Platform Market By Organization Size
13.6.4 Latin America Digital Experience Platform Market By Deployment Model
13.6.5Latin America Digital Experience Platform Market By Application
13.6.6 Latin America Digital Experience Platform Market By Vertical
13.6.7 Brazil
13.6.7.1 Brazil Digital Experience Platform Market By Component
13.6.7.2 Brazil Africa Digital Experience Platform Market By Organization Size
13.6.7.3Brazil Digital Experience Platform Market By Deployment Model
13.6.7.4 Brazil Digital Experience Platform Market By Application
13.6.7.5 Brazil Digital Experience Platform Market By Vertical
13.6.8 Argentina
13.6.8.1 Argentina Digital Experience Platform Market By Component
13.6.8.2 Argentina Digital Experience Platform Market By Organization Size
13.6.8.3 Argentina Digital Experience Platform Market By Deployment Model
13.6.8.4 Argentina Digital Experience Platform Market By Application
13.6.8.5 Argentina Digital Experience Platform Market By Vertical
13.6.9 Rest of Latin America
13.6.9.1 Rest of Latin America Digital Experience Platform Market By Component
13.6.9.2 Rest of Latin America Digital Experience Platform Market By Organization Size
13.6.9.3 Rest of Latin America Digital Experience Platform Market By Deployment Model
13.6.9.4 Rest of Latin America Digital Experience Platform Market By Application
13.6.9.5 Rest of Latin America Digital Experience Platform Market By Vertical

14 Company Profile
14.1 Open Text Corporation
14.1.1 Market Overview
14.1.2 Financials
14.1.3 Product/Services/Offerings
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Acquia Inc.
14.2.1 Market Overview
14.2.2 Financials
14.2.3 Product/Services/Offerings
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 SAP SE.
14.3.1 Market Overview
14.3.2 Financials
14.3.3 Product/Services/Offerings
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 International Business Machines Corporation.
14.4.1 Market Overview
14.4.2 Financials
14.4.3 Product/Services/Offerings
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 Liferay, Inc.
14.5.1 Market Overview
14.5.2 Financials
14.5.3 Product/Services/Offerings
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 ADOBE INC.
14.6.1 Market Overview
14.6.2 Financials
14.6.3 Product/Services/Offerings
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 Microsoft Corporation
14.7.1 Market Overview
14.7.2 Financials
14.7.3 Product/Services/Offerings
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 Oracle Corporation.
14.8.1 Market Overview
14.8.2 Financials
14.8.3 Product/Services/Offerings
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 Salesforce.com, Inc.
14.9.1 Market Overview
14.9.2 Financials
14.9.3 Product/Services/Offerings
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Sitecore.
14.10.1 Market Overview
14.10.2 Financials
14.10.3 Product/Services/Offerings
14.10.4 SWOT Analysis
14.10.5 The SNS View

15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments

16. USE Cases and Best Practices

17. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

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Data Bank Validation

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