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The Sports Analytics Market Size was valued at USD 3.53 billion in 2023 and is witnessed to reach USD 20.48 billion by 2032 and grow at a CAGR of 22.51% over the forecast period 2024-2032.
The ubiquity of wearable technology, and thus sensors is allowing athletes to be tracked in real-time - capturing a vast amount of data on their mechanical movement metrics, physiological measures as well as performance. Besides providing training information to coaches and sports scientists, the detail helps teams make performance decisions mid-game. As such, the market has shifted towards using data to enhance spectator engagement via tailored content interactive applications and augmented reality experiences for teams.
A HANS device (Head and Neck Support) is a U-shaped, carbon fiber collar fitted behind the neck by manufacturers of such technology. It is constructed of composite material and made up of two main sections. Helmet support and Neck and shoulder Support It stops your head from flogging backward and forward during an accident, too much twisting is also kept in check by the device. Also, sports equipment manufacturers have incorporated GPS in devices such as golf and cricket balls for tracking their real-time positions and transmitting the same to user's cell phones. The GPS also enables automatic scoring and analyses players' strengths/weaknesses for better development. For example, the GPS chip in a golf ball can detect various information such as shot height and timing from application to mobile phone.
This leads to the growth of the Market due to the demand for high accuracy in decision-making. The introduction of advanced tracking technologies and mass utilization of wearables means massive amounts is player movement, fitness metrics as well as physiological data can now be captured in real time. This information greatly helps coaches and sports scientists to make smarter decisions in their training, injury prevention strategies, or during the game. This enhances the performance of athletes and helps teams do better by providing data-supported patterns that may not have been visible through traditional means. The most recent is the partnership between Oracle Corporation and Red Bull Racing to create a new team called Oracle Red Bull Racing in February 2022. Using Oracle Cloud analytics Expero refactored the technology to drive better coaching and engagement with fans.
MARKET DYNAMICS:
KEY DRIVERS:
RESTRAINTS:
OPPORTUNITY:
KEY MARKET SEGMENTATION:
By Component
Based on components, the software segment captured 45% of the market revenue share in 2023. The increasing utilization of analytics software in major sports organizations to analyze and evaluate the performance capabilities enables their players, which is likely one key factor driving this market; Sports data analysis can be generated through software applications such as pre/post-game analysis, motion/video and statistical algorithm-based analytics platform-either offline or in real-time. Marketers create personalized software based on team and individual needs. The software segment is revolutionized by advancements in AR/VR, 2D/3D imaging, biometrics, video-based sensing, and big data analytics.
By Analysis Type
Based on the analysis, the on-field analysis segment held 71% of 2023 largest revenue share in the market. Off-field data metrics help teams construct compelling in-game strategies, nutrition plans, and other modalities that can raise their game. There is expected to be a greater demand for efficient evaluation of the health of athletes owing to an increasing emphasis on enhancing performance and optimizing injury prevention among players. There are several on-field analytical tools used in different sports, which help teams analyze the data and provide actionable results to sports organizations and coaching led by professionals.
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By End-Use
By end-use, the sports betting segment is expected to be a larger market in terms of revenue which is 24% in 2023. The sports betting sector is witnessing overarching market developments. The industry experiences a radical change in behavior towards data-driven decision-making as technology improves. With the intricate new age tools in analytics, bettors and organizations can analyze player performances as well team dynamics alongside their statistical records of yesterday adding more value for better prediction making. Further to this, the incorporation of artificial intelligence and machine learning is fuelling predictive modeling even more so, giving companies an advantage.
By Sports
Others
REGIONAL ANALYSIS:
In 2023, the North American market has over 30% of the revenue share. The growth potential of the market is driven by a high adoption rate for new technologies such as smart infrastructure, sports data analytics, and digital signage in sports stadiums to attract more fans & enhance team performance. Top sports leagues like the NFL, NBA, MLB, and NHL, are turning to sports analytics solutions more than ever before for data-driven decisions that will drive growth opportunities as they seek differentiation among rival club teams.
REGIONAL COVERAGE:
KEY PLAYERS:
The Sports Analytics market players include Arecont Vision Coaster LLC, Agile Sports Analytics LLC, The Sportradar Group, ChyroHego Corporation, Genius Sports Group, International Business Machine (IBM) Corporation, Experfy, Inc., Oracle Corporation, SAP SE, Deltatre S.p.A., Stats LLC, Catapult Group International Ltd. & other players.
RECENT DEVELOPMENTS
| Report Attributes | Details |
| Market Size in 2023 | US$ 3.53 Billion |
| Market Size by 2032 | US$ 20.48 Billion |
| CAGR | CAGR of 22.51% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | •By Component (Software & Services) •By Analysis (On-Field & Off-Field) •By Sports (Football, Cricket, Baseball, Basketball, Rugby & Others) •By End-use (Sports Team, Sports Leagues/Associations, Individual Players/Coaches, Media Organization, Sports Betting, Others) |
| 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 | Arecont Vision Coaster LLC, Agile Sports Analytics LLC, The Sportradar Group, ChyroHego Corporation, Genius Sports Group, International Business Machine (IBM) Corporation, Experfy, Inc., Oracle Corporation, SAP SE, Deltatre S.p.A., Stats LLC, Catapult Group International Ltd. & other players |
| Key Drivers | •The Market for Sports Analytics is Expected to Be Helped by the Rise in Wearable Technology. •Raising Focus on Real-Time Data for Organizing Training Sessions and Realizing Strategic Developments in Games is Propelling Sports Analytics Market Growth. |
| RESTRAINTS | •Different Formats of Data and Metrics for Different Sports/Leagues is a Hindrance in Creating "Standardized" Analytics Solutions. •Lack of Awareness Regarding the Significance of Sports Analytics Solutions is Hampering the Growth of The Market. |
The CAGR of the Sports Analytics Market for the forecast period 2024-2032 is 22.51 %.
The market is expected to grow to USD 20.48 billion by the forecast period of 2032.
The major worldwide key players in the Sports Analytics Market are Oracle Corporation, ChyronHego, IBM Corporation, Salesforce, SAS Institute, and others in the final report.
USD 3.53 billion in 2023 is the market share of the Sports Analytics Market.
The forecast period for the Sports Analytics Market is 2024-2032.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Sports Analytics Market Segmentation, By Component
7.1 Introduction
7.2 Software
7.3 Services
8. Sports Analytics Market Segmentation, By Analysis Type
8.1 Introduction
8.2 On-Field
8.2.1 Players & Team Analysis
8.2.2 Video Analysis
8.2.3 Health Assessment
8.3 Off-Field
8.3.1 Fan Engagement
8.3.2 Ticket Pricing
9. Sports Analytics Market Segmentation, By Sports
9.1 Introduction
9.2 Football
9.3 Cricket
9.4 Baseball
9.5 Basketball
9.6 Rugby
9.7 Others
10. Sports Analytics Market Segmentation, By End-Use
10.1 Introduction
10.2 Sports Teams
10.3 Sports Leagues/Associations
10.4 Individual Players/Coaches
10.5 Media Organization
10.6 Sports Betting
10.7 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 Trend Analysis
11.2.2 North America Sports Analytics Market by Country
11.2.3 North America Sports Analytics Market By Component
11.2.4 North America Sports Analytics Market By Analysis Type
11.2.5 North America Sports Analytics Market By Sports
11.2.6 North America Sports Analytics Market By End-Use
11.2.7 USA
11.2.7.1 USA Sports Analytics Market By Component
11.2.7.2 USA Sports Analytics Market By Analysis Type
11.2.7.3 USA Sports Analytics Market By Sports
11.2.7.4 USA Sports Analytics Market By End-Use
11.2.8 Canada
11.2.8.1 Canada Sports Analytics Market By Component
11.2.8.2 Canada Sports Analytics Market By Analysis Type
11.2.8.3 Canada Sports Analytics Market By Sports
11.2.8.4 Canada Sports Analytics Market By End-Use
11.2.9 Mexico
11.2.9.1 Mexico Sports Analytics Market By Component
11.2.9.2 Mexico Sports Analytics Market By Analysis Type
11.2.9.3 Mexico Sports Analytics Market By Sports
11.2.9.4 Mexico Sports Analytics Market By End-Use
11.3 Europe
11.3.1 Trend Analysis
11.3.2 Eastern Europe
11.3.2.1 Eastern Europe Sports Analytics Market by Country
11.3.2.2 Eastern Europe Sports Analytics Market By Component
11.3.2.3 Eastern Europe Sports Analytics Market By Analysis Type
11.3.2.4 Eastern Europe Sports Analytics Market By Sports
11.3.2.5 Eastern Europe Sports Analytics Market By End-Use
11.3.2.6 Poland
11.3.2.6.1 Poland Sports Analytics Market By Component
11.3.2.6.2 Poland Sports Analytics Market By Analysis Type
11.3.2.6.3 Poland Sports Analytics Market By Sports
11.3.2.6.4 Poland Sports Analytics Market By End-Use
11.3.2.7 Romania
11.3.2.7.1 Romania Sports Analytics Market By Component
11.3.2.7.2 Romania Sports Analytics Market By Analysis Type
11.3.2.7.3 Romania Sports Analytics Market By Sports
11.3.2.7.4 Romania Sports Analytics Market By End-Use
11.3.2.8 Hungary
11.3.2.8.1 Hungary Sports Analytics Market By Component
11.3.2.8.2 Hungary Sports Analytics Market By Analysis Type
11.3.2.8.3 Hungary Sports Analytics Market By Sports
11.3.2.8.4 Hungary Sports Analytics Market By End-Use
11.3.2.9 Turkey
11.3.2.9.1 Turkey Sports Analytics Market By Component
11.3.2.9.2 Turkey Sports Analytics Market By Analysis Type
11.3.2.9.3 Turkey Sports Analytics Market By Sports
11.3.2.9.4 Turkey Sports Analytics Market By End-Use
11.3.2.10 Rest of Eastern Europe
11.3.2.10.1 Rest of Eastern Europe Sports Analytics Market By Component
11.3.2.10.2 Rest of Eastern Europe Sports Analytics Market By Analysis Type
11.3.2.10.3 Rest of Eastern Europe Sports Analytics Market By Sports
11.3.2.10.4 Rest of Eastern Europe Sports Analytics Market By End-Use
11.3.3 Western Europe
11.3.3.1 Western Europe Sports Analytics Market by Country
11.3.3.2 Western Europe Sports Analytics Market By Component
11.3.3.3 Western Europe Sports Analytics Market By Analysis Type
11.3.3.4 Western Europe Sports Analytics Market By Sports
11.3.3.5 Western Europe Sports Analytics Market By End-Use
11.3.3.6 Germany
11.3.3.6.1 Germany Sports Analytics Market By Component
11.3.3.6.2 Germany Sports Analytics Market By Analysis Type
11.3.3.6.3 Germany Sports Analytics Market By Sports
11.3.3.6.4 Germany Sports Analytics Market By End-Use
11.3.3.7 France
11.3.3.7.1 France Sports Analytics Market By Component
11.3.3.7.2 France Sports Analytics Market By Analysis Type
11.3.3.7.3 France Sports Analytics Market By Sports
11.3.3.7.4 France Sports Analytics Market By End-Use
11.3.3.8 UK
11.3.3.8.1 UK Sports Analytics Market By Component
11.3.3.8.2 UK Sports Analytics Market By Analysis Type
11.3.3.8.3 UK Sports Analytics Market By Sports
11.3.3.8.4 UK Sports Analytics Market By End-Use
11.3.3.9 Italy
11.3.3.9.1 Italy Sports Analytics Market By Component
11.3.3.9.2 Italy Sports Analytics Market By Analysis Type
11.3.3.9.3 Italy Sports Analytics Market By Sports
11.3.3.9.4 Italy Sports Analytics Market By End-Use
11.3.3.10 Spain
11.3.3.10.1 Spain Sports Analytics Market By Component
11.3.3.10.2 Spain Sports Analytics Market By Analysis Type
11.3.3.10.3 Spain Sports Analytics Market By Sports
11.3.3.10.4 Spain Sports Analytics Market By End-Use
11.3.3.11 Netherlands
11.3.3.11.1 Netherlands Sports Analytics Market By Component
11.3.3.11.2 Netherlands Sports Analytics Market By Analysis Type
11.3.3.11.3 Netherlands Sports Analytics Market By Sports
11.3.3.11.4 Netherlands Sports Analytics Market By End-Use
11.3.3.12 Switzerland
11.3.3.12.1 Switzerland Sports Analytics Market By Component
11.3.3.12.2 Switzerland Sports Analytics Market By Analysis Type
11.3.3.12.3 Switzerland Sports Analytics Market By Sports
11.3.3.12.4 Switzerland Sports Analytics Market By End-Use
11.3.3.13 Austria
11.3.3.13.1 Austria Sports Analytics Market By Component
11.3.3.13.2 Austria Sports Analytics Market By Analysis Type
11.3.3.13.3 Austria Sports Analytics Market By Sports
11.3.3.13.4 Austria Sports Analytics Market By End-Use
11.3.3.14 Rest of Western Europe
11.3.3.14.1 Rest of Western Europe Sports Analytics Market By Component
11.3.3.14.2 Rest of Western Europe Sports Analytics Market By Analysis Type
11.3.3.14.3 Rest of Western Europe Sports Analytics Market By Sports
11.3.3.14.4 Rest of Western Europe Sports Analytics Market By End-Use
11.4 Asia-Pacific
11.4.1 Trend Analysis
11.4.2 Asia-Pacific Sports Analytics Market by Country
11.4.3 Asia-Pacific Sports Analytics Market By Component
11.4.4 Asia-Pacific Sports Analytics Market By Analysis Type
11.4.5 Asia-Pacific Sports Analytics Market By Sports
11.4.6 Asia-Pacific Sports Analytics Market By End-Use
11.4.7 China
11.4.7.1 China Sports Analytics Market By Component
11.4.7.2 China Sports Analytics Market By Analysis Type
11.4.7.3 China Sports Analytics Market By Sports
11.4.7.4 China Sports Analytics Market By End-Use
11.4.8 India
11.4.8.1 India Sports Analytics Market By Component
11.4.8.2 India Sports Analytics Market By Analysis Type
11.4.8.3 India Sports Analytics Market By Sports
11.4.8.4 India Sports Analytics Market By End-Use
11.4.9 Japan
11.4.9.1 Japan Sports Analytics Market By Component
11.4.9.2 Japan Sports Analytics Market By Analysis Type
11.4.9.3 Japan Sports Analytics Market By Sports
11.4.9.4 Japan Sports Analytics Market By End-Use
11.4.10 South Korea
11.4.10.1 South Korea Sports Analytics Market By Component
11.4.10.2 South Korea Sports Analytics Market By Analysis Type
11.4.10.3 South Korea Sports Analytics Market By Sports
11.4.10.4 South Korea Sports Analytics Market By End-Use
11.4.11 Vietnam
11.4.11.1 Vietnam Sports Analytics Market By Component
11.4.11.2 Vietnam Sports Analytics Market By Analysis Type
11.4.11.3 Vietnam Sports Analytics Market By Sports
11.4.11.4 Vietnam Sports Analytics Market By End-Use
11.4.12 Singapore
11.4.12.1 Singapore Sports Analytics Market By Component
11.4.12.2 Singapore Sports Analytics Market By Analysis Type
11.4.12.3 Singapore Sports Analytics Market By Sports
11.4.12.4 Singapore Sports Analytics Market By End-Use
11.4.13 Australia
11.4.13.1 Australia Sports Analytics Market By Component
11.4.13.2 Australia Sports Analytics Market By Analysis Type
11.4.13.3 Australia Sports Analytics Market By Sports
11.4.13.4 Australia Sports Analytics Market By End-Use
11.4.14 Rest of Asia-Pacific
11.4.14.1 Rest of Asia-Pacific Sports Analytics Market By Component
11.4.14.2 Rest of Asia-Pacific Sports Analytics Market By Analysis Type
11.4.14.3 Rest of Asia-Pacific Sports Analytics Market By Sports
11.4.14.4 Rest of Asia-Pacific Sports Analytics Market By End-Use
11.5 Middle East & Africa
11.5.1 Trend Analysis
11.5.2 Middle East
11.5.2.1 Middle East Sports Analytics Market by Country
11.5.2.2 Middle East Sports Analytics Market By Component
11.5.2.3 Middle East Sports Analytics Market By Analysis Type
11.5.2.4 Middle East Sports Analytics Market By Sports
11.5.2.5 Middle East Sports Analytics Market By End-Use
11.5.2.6 UAE
11.5.2.6.1 UAE Sports Analytics Market By Component
11.5.2.6.2 UAE Sports Analytics Market By Analysis Type
11.5.2.6.3 UAE Sports Analytics Market By Sports
11.5.2.6.4 UAE Sports Analytics Market By End-Use
11.5.2.7 Egypt
11.5.2.7.1 Egypt Sports Analytics Market By Component
11.5.2.7.2 Egypt Sports Analytics Market By Analysis Type
11.5.2.7.3 Egypt Sports Analytics Market By Sports
11.5.2.7.4 Egypt Sports Analytics Market By End-Use
11.5.2.8 Saudi Arabia
11.5.2.8.1 Saudi Arabia Sports Analytics Market By Component
11.5.2.8.2 Saudi Arabia Sports Analytics Market By Analysis Type
11.5.2.8.3 Saudi Arabia Sports Analytics Market By Sports
11.5.2.8.4 Saudi Arabia Sports Analytics Market By End-Use
11.5.2.9 Qatar
11.5.2.9.1 Qatar Sports Analytics Market By Component
11.5.2.9.2 Qatar Sports Analytics Market By Analysis Type
11.5.2.9.3 Qatar Sports Analytics Market By Sports
11.5.2.9.4 Qatar Sports Analytics Market By End-Use
11.5.2.10 Rest of Middle East
11.5.2.10.1 Rest of Middle East Sports Analytics Market By Component
11.5.2.10.2 Rest of Middle East Sports Analytics Market By Analysis Type
11.5.2.10.3 Rest of Middle East Sports Analytics Market By Sports
11.5.2.10.4 Rest of Middle East Sports Analytics Market By End-Use
11.5.3 Africa
11.5.3.1 Africa Sports Analytics Market by Country
11.5.3.2 Africa Sports Analytics Market By Component
11.5.3.3 Africa Sports Analytics Market By Analysis Type
11.5.3.4 Africa Sports Analytics Market By Sports
11.5.3.5 Africa Sports Analytics Market By End-Use
11.5.3.6 Nigeria
11.5.3.6.1 Nigeria Sports Analytics Market By Component
11.5.3.6.2 Nigeria Sports Analytics Market By Analysis Type
11.5.3.6.3 Nigeria Sports Analytics Market By Sports
11.5.3.6.4 Nigeria Sports Analytics Market By End-Use
11.5.3.7 South Africa
11.5.3.7.1 South Africa Sports Analytics Market By Component
11.5.3.7.2 South Africa Sports Analytics Market By Analysis Type
11.5.3.7.3 South Africa Sports Analytics Market By Sports
11.5.3.7.4 South Africa Sports Analytics Market By End-Use
11.5.3.8 Rest of Africa
11.5.3.8.1 Rest of Africa Sports Analytics Market By Component
11.5.3.8.2 Rest of Africa Sports Analytics Market By Analysis Type
11.5.3.8.3 Rest of Africa Sports Analytics Market By Sports
11.5.3.8.4 Rest of Africa Sports Analytics Market By End-Use
11.6 Latin America
11.6.1 Trend Analysis
11.6.2 Latin America Sports Analytics Market by Country
11.6.3 Latin America Sports Analytics Market By Component
11.6.4 Latin America Sports Analytics Market By Analysis Type
11.6.5 Latin America Sports Analytics Market By Sports
11.6.6 Latin America Sports Analytics Market By End-Use
11.6.7 Brazil
11.6.7.1 Brazil Sports Analytics Market By Component
11.6.7.2 Brazil Sports Analytics Market By Analysis Type
11.6.7.3 Brazil Sports Analytics Market By Sports
11.6.7.4 Brazil Sports Analytics Market By End-Use
11.6.8 Argentina
11.6.8.1 Argentina Sports Analytics Market By Component
11.6.8.2 Argentina Sports Analytics Market By Analysis Type
11.6.8.3 Argentina Sports Analytics Market By Sports
11.6.8.4 Argentina Sports Analytics Market By End-Use
11.6.9 Colombia
11.6.9.1 Colombia Sports Analytics Market By Component
11.6.9.2 Colombia Sports Analytics Market By Analysis Type
11.6.9.3 Colombia Sports Analytics Market By Sports
11.6.9.4 Colombia Sports Analytics Market By End-Use
11.6.10 Rest of Latin America
11.6.10.1 Rest of Latin America Sports Analytics Market By Component
11.6.10.2 Rest of Latin America Sports Analytics Market By Analysis Type
11.6.10.3 Rest of Latin America Sports Analytics Market By Sports
11.6.10.4 Rest of Latin America Sports Analytics Market By End-Use
12. Company Profiles
12.1 Arecont Vision Coaster LLC
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 The SNS View
12.2 Agile Sports Analytics LLC
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Products/ Services Offered
12.2.4 The SNS View
12.3 The Sportradar Group
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Products/ Services Offered
12.3.4 The SNS View
12.4 ChyroHego Corporation
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Products/ Services Offered
12.4.4 The SNS View
12.5 Genius Sports Group
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Products/ Services Offered
12.5.4 The SNS View
12.6 International Business Machine (IBM) Corporation
12.6.1 Company Overview
12.6.2 Financial
12.6.3 Products/ Services Offered
12.6.4 The SNS View
12.7 Experfy, Inc.
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Products/ Services Offered
12.7.4 The SNS View
12.8 Oracle Corporation
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Products/ Services Offered
12.8.4 The SNS View
12.9 SAP SE
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Products/ Services Offered
12.9.4 The SNS View
12.10 Deltatre S.p.A.
12.10.1 Company Overview
12.10.2 Financial
12.10.3 Products/ Services Offered
12.10.4 The SNS View
12.11 Stats LLC
12.11.1 Company Overview
12.11.2 Financial
12.11.3 Products/ Services Offered
12.11.4 The SNS View
12.12 Catapult Group International Ltd.
12.12.1 Company Overview
12.12.2 Financial
12.12.3 Products/ Services Offered
12.12.4 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. 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.
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.
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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