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Market sizing is a process of estimating the potential of a market in terms of the total sales generated by the companies present in the market. Defining the precise scope of the market is a pivotal step to estimate the market size. The market forecast is another crucial component of market analysis. It projects the future numbers, characteristics and trends of the target market.

Purpose

Understanding the potential of a market is essential for companies planning to launch a new product or service in the market. It helps the companies to understand the fundamental market dynamics, which will subsequently impact the product’s performance in the market.

Furthermore, market sizing also helps the companies to understand their positioning in the market. Market forecast helps the potential entrants in the market for a better understanding of the market growth before penetrating the market segment.

Approach

Ingenious conducts in-depth secondary as well as primary research to estimate the market size using the two methods: top-down and bottom-up. However, the selected strategy is based on the type of market information available. The best approach is to develop the market sizing using both the methods to attain higher precision of estimation.

  • Government Associations
  • Company Annual Reports
  • Company Websites
  • Company’s Presentation
  • Paid databases
  • News and press release
  • Magazines
  • Journals
  • Articles
  • Whitepapers
  • Blogs

To validate the market size, Ingenious conducts primary interviews (paid and unpaid) depending on the bandwidth of the project. We do free primary interviews across the value chain of the market segments, which includes key manufactures, supplier, end-user/customers. Also, paid interviews are conducted with the industry experts to gain insights on crucial and specific business requirement.

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