image

REPORT SCOPE & OVERVIEW

The Smart Space Market size was USD 39.2 billion in 2022 and is expected to Reach USD 108.7 billion by 2030 and grow at a CAGR of 13.6 % over the forecast period of 2023-2030

A smart space is a physical environment where information and communication technologies are embedded to enable the collection and exchange of data and to improve operational efficiency, decision-making, and the overall user experience. Some of the common applications of smart spaces include Smart Cities, Smart healthcare, Smart buildings use sensors, actuators, and other technologies to monitor and control the environment, such as lighting, temperature, and security. This can help to improve energy efficiency, occupant comfort, and security. The commercial segment dominated the smart space market in 2022 with a share of 34%. This is due to the increasing adoption of smart technologies in businesses, such as smart buildings and smart factories. The residential segment is expected to grow at the fastest pace during the forecast period, as more and more people are adopting smart home technologies. On the basis of components, the hardware segment dominated the smart space market share in 2020, and is expected to maintain its dominance in the upcoming years. This is due to the increased adoption of smart devices in smart homes and buildings, which is the major factor that drives the demand for various hardware in the smart space industry. However, the services segment is expected to witness highest growth rate during the forecast period.

Smart Space Market Revenue Analysis

MARKET DYNAMICS

KEY DRIVERS

  • Rising adoption of IoT and other connected technologies

  • Increasing urbanization and population growth

The increasing adoption of IoT and other connected technologies is driving the growth of the smart space market. These technologies enable the collection and analysis of data from a variety of sources, which can be used to improve the efficiency and operation of smart spaces.

RESTRAIN

  • High initial capital investment

  • Lack of awareness and understanding of smart space technologies

One of the major restraints in the smart space market is the high initial capital investment required. This is due to the need to install and maintain the necessary infrastructure and equipment.

OPPORTUNITY

  • Growing need for security and safety

  • The development of new smart space applications in healthcare, transportation, and industrial sector

Smart space technologies can be used to improve security and safety by providing real-time monitoring and alerts. This can help to prevent crime, accidents, and other incidents.

CHALLENGES

  • Interoperability challenges

There are also interoperability challenges in the smart space market. This is because different smart space technologies are often not compatible with each other.

IMPACT OF RUSSIAN UKRAINE WAR

The war has disrupted the supply chain for smart space technologies, as many of the components and materials are sourced from Russia and Ukraine. However, the study also found that the war in Ukraine could slow down this growth by 2-3 percentage points in this market. This has led to higher prices and longer lead times for these technologies. The war has also led to a decline in investment in the smart space market, as businesses are hesitant to commit to new projects in the current uncertain economic climate. Some of the companies that have been affected by the Russian-Ukraine war in the smart space market include IBM, Siemens, and Johnson Controls, these companies have all reported higher prices and longer lead times for smart space technologies. They have also seen a decline in investment and demand for these technologies. In March 2022, Cisco announced that it was suspending all business operations in Russia and Belarus and In August 2022, Siemens said that it was withdrawing from the Russian market.

IMPACT OF ONGOING RECESSION

The ongoing recession is expected to have a significant impact on the smart space market. The market is expected to grow at a slower pace than previously forecast, and some companies may experience declining sales revenue. Businesses may also shift their priorities during the recession. They may focus on more essential technologies, such as those that improve operational efficiency or safety. Honeywell company's sales revenue in the first quarter of 2023 was down 6% from the same quarter of the previous year. The company announced plans to close a manufacturing plant in the United States. and also Siemens to lay off 10,000 employees Its plans to lay off 10,000 employees as part of a cost-saving measure. Overall The smart space market is a dynamic and evolving market. The companies that are able to adapt to the changing market conditions will be the ones that are most successful in the long run.

KEY MARKET SEGMENTS 

By Component  

  • Hardware

  • Software

  • Services

 By Space Type  

  • Smart Indoor Spaces

  • Smart Outdoor Spaces

 By Application

  • Energy Management & Optimization

  • Layout & Space Management

  • Disaster Management

  • Security Management

  • Others

By End-User

  • Residential

  • Commercial

Smart Space Market Segmentation Analysis

Region Coverage:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of the Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America

REGIONAL ANALYSIS

North America dominates the smart space market. Market growth in this region is attributed to several factors such as huge government funding for innovative as well as smart technologies, an increased number of IoT devices, and a strong technical base. In North America, the smart building technology company, Cohesion, has raised $6.5 million in funding to expand its platform that uses IoT sensors to optimize building operations. In North America, the University of California, San Diego, has launched a smart campus project that uses IoT technology to improve campus safety, energy efficiency, and parking management

Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to the proliferation of connected systems fuelled by the ongoing trend of smart offices and homes in the region along with government-driven infrastructural projects. In Asia-Pacific, the Indian government has launched a smart cities mission that aims to develop 100 smart cities across the country by 2022. And the Singapore government has also launched a smart nation initiative that aims to use technology to improve the quality of life for citizens and enhance economic competitiveness

KEY PLAYERS

The major key players in the Smart Space Market are Cisco System, Coor, Eutech Cybernetic Pte. Ltd., Hitachi Vantara Corporation, Huawei Technologies Co., Ltd., International Business Machines Corporation, Schneider Electric SE, Siemens AG, SmartSpace Software Plc, Spacewell, Siemens Digital Industries, Honeywell and Johnson and other players.

Cisco System-Company Financial Analysis

RECENT DEVELOPMENTS

Siemens Digital Industries:

In July 12, 2023, Siemens Digital Industries Software and Microsoft partner to accelerate digital transformation in manufacturing The two companies announced a partnership to help manufacturers accelerate their digital transformation journeys. The partnership will focus on areas such as cloud computing, artificial intelligence, and the Internet of Things.

Honeywell and Johnson:

In June 20, 2023, Honeywell and Johnson Controls to merge smart building businesses The two companies announced plans to merge their smart building businesses to create a leading provider of connected buildings solutions. The combined company will have a portfolio of over 600,000 connected buildings and a customer base of over 200,000.

Smart Space Market Report Scope:
Report Attributes Details
Market Size in 2022  US$ 39.2 Billion
Market Size by 2030  US$ 108.7 Billion
CAGR   CAGR of 13.6% From 2023 to 2030
Base Year 2022
Forecast Period  2023-2030
Historical Data  2019-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Component (Hardware, Software, Space Type)
• By Space Type (Smart Indoor Spaces, Smart Outdoor Spaces)
• By Application (Energy Management & Optimization, Layout & Space Management, Disaster Management, Security Management, Others)
• By End User (Residential, Commercial)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Company Profiles Cisco System, Coor, Eutech Cybernetic Pte. Ltd., Hitachi Vantara Corporation, Huawei Technologies Co., Ltd., International Business Machines Corporation, Schneider Electric SE, Siemens AG, SmartSpace Software Plc, Spacewell, Siemens Digital Industries, Honeywell and Johnson 
Key Drivers • Rising adoption of IoT and other connected technologies
• Increasing urbanization and population growth
Market Opportunity • Growing need for security and safety
• The development of new smart space applications in healthcare, transportation, and industrial sector

 

Frequently Asked Questions

Ans. The Compound Annual Growth rate for Smart Space Market over the forecast period is 13.6 %

Ans. USD 108.7 Billion is the Company's projected Smart Space Market size by 2030.

Ans. The smart space market refers to physical environments that are equipped with technologies such as monitors and sensors, which allow humans to interact with technology-enabled systems.

Ans. The increasing demand for IoT and the rise in the number of smart city projects are some of the key drivers of growth in the smart space market.

Ans. According to research experts, some of the major trends shaping the smart space market include the increasing adoption of IoT and the rise of smart cities.

TABLE OF CONTENT

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 Ukraine- Russia War
4.2 Impact of Recession
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. Smart Space Market Segmentation, by Component
8.1 Hardware
8.2 Software

9. Smart Space Market Segmentation, by Space Type
9.1 Smart Indoor Space
9.2 Smart Outdoor Space

10. Smart Space Market Segmentation, by Application
10.1 Energy Management and Optimization
10.2 Layout & Space management
10.3 Emergency & Disaster Management
10.4 Security Management
10.5 Others

11. Smart Space Market Segmentation, by End-User
11.1 Residential
11.2 Commercial

12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Smart Space Market by Country
12.2.2 North America Smart Space Market by Component
12.2.3 North America Smart Space Market by Space Type
12.2.4 North America Smart Space Market by Application
12.2.5 North America Smart Space Market by End-User
12.2.6 USA
12.2.6.1 USA Smart Space Market by Component
12.2.6.2 USA Smart Space Market by Space Type
12.2.6.3 USA Smart Space Market by Application
12.2.6.4 USA Smart Space Market by End-User
12.2.7 Canada
12.2.7.1 Canada Smart Space Market by Component
12.2.7.2 Canada Smart Space Market by Space Type
12.2.7.3 Canada Smart Space Market by Application
12.2.7.4 Canada Smart Space Market by End-User
12.2.8 Mexico
12.2.8.1 Mexico Smart Space Market by Component
12.2.8.2 Mexico Smart Space Market by Space Type
12.2.8.3 Mexico Smart Space Market by Application
12.2.8.4 Mexico Smart Space Market by End-User
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Eastern Europe Smart Space Market by Country
12.3.1.2 Eastern Europe Smart Space Market by Component
12.3.1.3 Eastern Europe Smart Space Market by Space Type
12.3.1.4 Eastern Europe Smart Space Market by Application
12.3.1.5 Eastern Europe Smart Space Market by End-User
12.3.1.6 Poland
12.3.1.6.1 Poland Smart Space Market by Component
12.3.1.6.2 Poland Smart Space Market by Space Type
12.3.1.6.3 Poland Smart Space Market by Application
12.3.1.6.4 Poland Smart Space Market by End-User
12.3.1.7 Romania
12.3.1.7.1 Romania Smart Space Market by Component
12.3.1.7.2 Romania Smart Space Market by Space Type
12.3.1.7.3 Romania Smart Space Market by Application
12.3.1.7.4 Romania Smart Space Market by End-User
12.3.1.8 Hungary
12.3.1.8.1 Hungary Smart Space Market by Component
12.3.1.8.2 Hungary Smart Space Market by Space Type
12.3.1.8.3 Hungary Smart Space Market by Application
12.3.1.8.4 Hungary Smart Space Market by End-User
12.3.1.9 Turkey
12.3.1.9.1 Turkey Smart Space Market by Component
12.3.1.9.2 Turkey Smart Space Market by Space Type
12.3.1.9.3 Turkey Smart Space Market by Application
12.3.1.9.4 Turkey Smart Space Market by End-User
12.3.1.10 Rest of Eastern Europe
12.3.1.10.1 Rest of Eastern Europe Smart Space Market by Component
12.3.1.10.2 Rest of Eastern Europe Smart Space Market by Space Type
12.3.1.10.3 Rest of Eastern Europe Smart Space Market by Application
12.3.1.10.4 Rest of Eastern Europe Smart Space Market by End-User
12.3.2 Western Europe
12.3.2.1 Western Europe Smart Space Market by Country
12.3.2.2 Western Europe Smart Space Market by Component
12.3.2.3 Western Europe Smart Space Market by Space Type
12.3.2.4 Western Europe Smart Space Market by Application
12.3.2.5 Western Europe Smart Space Market by End-User
12.3.2.6 Germany
12.3.2.6.1 Germany Smart Space Market by Component
12.3.2.6.2 Germany Smart Space Market by Space Type
12.3.2.6.3 Germany Smart Space Market by Application
12.3.2.6.4 Germany Smart Space Market by End-User
12.3.2.7 France
12.3.2.7.1 France Smart Space Market by Component
12.3.2.7.2 France Smart Space Market by Space Type
12.3.2.7.3 France Smart Space Market by Application
12.3.2.7.4 France Smart Space Market by End-User
12.3.2.8 UK
12.3.2.8.1 UK Smart Space Market by Component
12.3.2.8.2 UK Smart Space Market by Space Type
12.3.2.8.3 UK Smart Space Market by Application
12.3.2.8.4 UK Smart Space Market by End-User
12.3.2.9 Italy
12.3.2.9.1 Italy Smart Space Market by Component
12.3.2.9.2 Italy Smart Space Market by Space Type
12.3.2.9.3 Italy Smart Space Market by Application
12.3.2.9.4 Italy Smart Space Market by End-User
12.3.2.10 Spain
12.3.2.10.1 Spain Smart Space Market by Component
12.3.2.10.2 Spain Smart Space Market by Space Type
12.3.2.10.3 Spain Smart Space Market by Application
12.3.2.10.4 Spain Smart Space Market by End-User
12.3.2.11 Netherlands
12.3.2.11.1 Netherlands Smart Space Market by Component
12.3.2.11.2 Netherlands Smart Space Market by Space Type
12.3.2.11.3 Netherlands Smart Space Market by Application
12.3.2.11.4 Netherlands Smart Space Market by End-User
12.3.2.12 Switzerland
12.3.2.12.1 Switzerland Smart Space Market by Component
12.3.2.12.2 Switzerland Smart Space Market by Space Type
12.3.2.12.3 Switzerland Smart Space Market by Application
12.3.2.12.4 Switzerland Smart Space Market by End-User
12.3.2.13 Austria
12.3.2.13.1 Austria Smart Space Market by Component
12.3.2.13.2 Austria Smart Space Market by Space Type
12.3.2.13.3 Austria Smart Space Market by Application
12.3.2.13.4 Austria Smart Space Market by End-User
12.3.2.14 Rest of Western Europe
12.3.2.14.1 Rest of Western Europe Smart Space Market by Component
12.3.2.14.2 Rest of Western Europe Smart Space Market by Space Type
12.3.2.14.3 Rest of Western Europe Smart Space Market by Application
12.3.2.14.4 Rest of Western Europe Smart Space Market by End-User
12.4 Asia-Pacific
12.4.1 Asia Pacific Smart Space Market by Country
12.4.2 Asia Pacific Smart Space Market by Component
12.4.3 Asia Pacific Smart Space Market by Space Type
12.4.4 Asia Pacific Smart Space Market by Application
12.4.5 Asia Pacific Smart Space Market by End-User
12.4.6 China
12.4.6.1 China Smart Space Market by Component
12.4.6.2 China Smart Space Market by Space Type
12.4.6.3 China Smart Space Market by Application
12.4.6.4 China Smart Space Market by End-User
12.4.7 India
12.4.7.1 India Smart Space Market by Component
12.4.7.2 India Smart Space Market by Space Type
12.4.7.3 India Smart Space Market by Application
12.4.7.4 India Smart Space Market by End-User
12.4.8 Japan
12.4.8.1 Japan Smart Space Market by Component
12.4.8.2 Japan Smart Space Market by Space Type
12.4.8.3 Japan Smart Space Market by Application
12.4.8.4 Japan Smart Space Market by End-User
12.4.9 South Korea
12.4.9.1 South Korea Smart Space Market by Component
12.4.9.2 South Korea Smart Space Market by Space Type
12.4.9.3 South Korea Smart Space Market by Application
12.4.9.4 South Korea Smart Space Market by End-User
12.4.10 Vietnam
12.4.10.1 Vietnam Smart Space Market by Component
12.4.10.2 Vietnam Smart Space Market by Space Type
12.4.10.3 Vietnam Smart Space Market by Application
12.4.10.4 Vietnam Smart Space Market by End-User
12.4.11 Singapore
12.4.11.1 Singapore Smart Space Market by Component
12.4.11.2 Singapore Smart Space Market by Space Type
12.4.11.3 Singapore Smart Space Market by Application
12.4.11.4 Singapore Smart Space Market by End-User
12.4.12 Australia
12.4.12.1 Australia Smart Space Market by Component
12.4.12.2 Australia Smart Space Market by Space Type
12.4.12.3 Australia Smart Space Market by Application
12.4.12.4 Australia Smart Space Market by End-User
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Smart Space Market by Component
12.4.13.2 Rest of Asia-Pacific Smart Space Market by Space Type
12.4.13.3 Rest of Asia-Pacific Smart Space Market by Application
12.4.13.4 Rest of Asia-Pacific Smart Space Market by End-User
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.1 Middle East Smart Space Market by Country
12.5.1.2 Middle East Smart Space Market by Component
12.5.1.3 Middle East Smart Space Market by Space Type
12.5.1.4 Middle East Smart Space Market by Application
12.5.1.5 Middle East Smart Space Market by End-User
12.5.1.6 UAE
12.5.1.6.1 UAE Smart Space Market by Component
12.5.1.6.2 UAE Smart Space Market by Space Type
12.5.1.6.3 UAE Smart Space Market by Application
12.5.1.6.4 UAE Smart Space Market by End-User
12.5.1.7 Egypt
12.5.1.7.1 Egypt Smart Space Market by Component
12.5.1.7.2 Egypt Smart Space Market by Space Type
12.5.1.7.3 Egypt Smart Space Market by Application
12.5.1.7.4 Egypt Smart Space Market by End-User
12.5.1.8 Saudi Arabia
12.5.1.8.1 Saudi Arabia Smart Space Market by Component
12.5.1.8.2 Saudi Arabia Smart Space Market by Space Type
12.5.1.8.3 Saudi Arabia Smart Space Market by Application
12.5.1.8.4 Saudi Arabia Smart Space Market by End-User
12.5.1.9 Qatar
12.5.1.9.1 Qatar Smart Space Market by Component
12.5.1.9.2 Qatar Smart Space Market by Space Type
12.5.1.9.3 Qatar Smart Space Market by Application
12.5.1.9.4 Qatar Smart Space Market by End-User
12.5.1.10 Rest of Middle East
12.5.1.10.1 Rest of Middle East Smart Space Market by Component
12.5.1.10.2 Rest of Middle East Smart Space Market by Space Type
12.5.1.10.3 Rest of Middle East Smart Space Market by Application
12.5.1.10.4 Rest of Middle East Smart Space Market by End-User
12.5.2. Africa
12.5.2.1 Africa Smart Space Market by Country
12.5.2.2 Africa Smart Space Market by Component
12.5.2.3 Africa Smart Space Market by Space Type
12.5.2.4 Africa Smart Space Market by Application
12.5.2.5 Africa Smart Space Market by End-User
12.5.2.6 Nigeria
12.5.2.6.1 Nigeria Smart Space Market by Component
12.5.2.6.2 Nigeria Smart Space Market by Space Type
12.5.2.6.3 Nigeria Smart Space Market by Application
12.5.2.6.4 Nigeria Smart Space Market by End-User
12.5.2.7 South Africa
12.5.2.7.1 South Africa Smart Space Market by Component
12.5.2.7.2 South Africa Smart Space Market by Space Type
12.5.2.7.3 South Africa Smart Space Market by Application
12.5.2.7.4 South Africa Smart Space Market by End-User
12.5.2.8 Rest of Africa
12.5.2.8.1 Rest of Africa Smart Space Market by Component
12.5.2.8.2 Rest of Africa Smart Space Market by Space Type
12.5.2.8.3 Rest of Africa Smart Space Market by Application
12.5.2.8.4 Rest of Africa Smart Space Market by End-User
12.6. Latin America
12.6.1 Latin America Smart Space Market by Country
12.6.2 Latin America Smart Space Market by Component
12.6.3 Latin America Smart Space Market by Space Type
12.6.4 Latin America Smart Space Market by Application
12.6.5 Latin America Smart Space Market by End-User
12.6.6 Brazil
12.6.6.1 Brazil Smart Space Market by Component
12.6.6.2 Brazil Smart Space Market by Space Type
12.6.6.3 Brazil Smart Space Market by Application
12.6.6.4 Brazil Smart Space Market by End-User
12.6.7 Argentina
12.6.7.1 Argentina Smart Space Market by Component
12.6.7.2 Argentina Smart Space Market by Space Type
12.6.7.3 Argentina Smart Space Market by Application
12.6.7.4 Argentina Smart Space Market by End-User
12.6.8 Colombia
12.6.8.1 Colombia Smart Space Market by Component
12.6.8.2 Colombia Smart Space Market by Space Type
12.6.8.3 Colombia Smart Space Market by Application
12.6.8.4 Colombia Smart Space Market by End-User
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Smart Space Market by Component
12.6.9.2 Rest of Latin America Smart Space Market by Space Type
12.6.9.3 Rest of Latin America Smart Space Market by Application
12.6.9.4 Rest of Latin America Smart Space Market by End-User

13 Company profile
13.1 Cisco System
13.1.1 Company Overview
13.1.2 Financials
13.1.3Product/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Coor
13.2.1 Company Overview
13.2.2 Financials
13.2.3Product/ Services /Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Eutech Cybernetic Pte. Ltd.
13.3.1 Company Overview
13.3.2 Financials
13.3.3Product/ Services /Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Hitachi Vantara Corporation
13.4.1 Company Overview
13.4.2 Financials
13.4.3Product/ Services /Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Huawei Technologies Co., Ltd
13.5.1 Company Overview
13.5.2 Financials
13.5.3Product/ Services /Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 International Business Machines Corporation
13.6.1 Company Overview
13.6.2 Financials
13.6.3Product/ Services /Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Schneider Electric SE
13.7.1 Company Overview
13.7.2 Financials
13.7.3Product/ Services /Offerings
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Siemens AG
13.8.1 Company Overview
13.8.2 Financial
13.8.3Product/ Services /Offerings
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 SmartSpace Software Plc
13.9.1 Company Overview
13.9.2 Financials
13.9.3 Product/Services/Offerings
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Spacewell
13.10.1 Company Overview
13.10.2 Financials
13.10.3 Product/Services/Offerings
13.10.4 SWOT Analysis
13.10.5 The SNS View

14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Company Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions

15. USE Cases and Best Practices

16. 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.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

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.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

Start a Conversation

Hi! Click one of our member below to chat on Phone