Research Methodology

Quadrant Market Insights follows a robust research methodology along with proprietary tools developed by industry experts to ensure accurate forecast models and provide authentic data sources to our client base. We have divided our research methodology into four major aspects. We perform these four iterations as our initial research approach, followed by customised solutions as requested by our client. The four major steps that strengthen our approach include market scoping, market estimation, research validation, and report writing. Each of these steps is further divided into respective categories to ensure that our analysts forecast accurate reports and maintain the highest quality standards.

Market scoping comprehensively analyses and evaluates potential business opportunities within specific boundaries and industries. It starts with client-specific requirements and is clubbed with our in-house expert consultant to identify problems. The process of market scoping in Quadrant Market Insights is divided into four major steps: problem identification, defining the market, sample selection, and research design.

Market Scoping

Problem Identification

Problem identification serves as the foundational step in the initial step of market scoping. We follow a robust and logical approach to identify challenges and potential opportunities within the marketplace. In this step, we take into consideration several factors, such as shifting consumer preferences, emerging business and end-user trends, and shifting business dynamics, among others. Articulating correct and precise problem definitions is pivotal to ensuring the quality of our research reports.

In the phase of problem identification, we receive input from our in-house research team and industry experts to understand market requirements. We also receive regular updates from our existing and previous clients about their problem statements, which fuel our report studies. Through our top-level analysis, we identified notable shifts in the market post-COVID-19. Moreover, the ongoing Russia-Ukraine war and the onset of global economic slowdown is also taken into consideration in defining the business opportunities within the market, allowing us to consider crucial topic for our analysis and forecast.

Defining The Market

After accurately defining the problem statement and finalising the report’s title, we define the market into several segments based on their application, components, end use, and other factors. A comprehensive mapping of companies operating within the scope of the study is performed, taking into consideration a range of criteria, but not limited to such as net revenue, operating profit, geographical presence, and range of products. Other factors such as market penetration, planned product launches, strategic initiatives, expansion strategies, and patent analysis are also done to identify key market players.

We also perform feasibility checks on regional levels and consider the regions showcasing the highest revenue and growth potential. There are certain areas where there is limited feasibility for data extrapolation and forecasting. In such cases, Quadrant Market Insights has developed proprietary tools and approaches to ensure precise estimates and forecasting.

Sample Selection

In this step of market scoping, we define a specific sample for our studies. We ensure that the sample selection is of the utmost random and comprehensive nature. Quadrant Market Insights (QMI) follows various approaches such as random sampling, stratified sampling, convenience sampling, Quota Sampling, judgmental sampling, snowball sampling, and cluster sampling, to name a few. We also consider major target markets from the supply and demand sides for our study. In the sampling process, we take industry expert opinions to gain the desired level of confidence and understanding of the margin of error, which is then clubbed with our proprietary statistical calculator and research approach.

Research Design

Once the problem has been identified and the market has been defined, followed by sample selection, we move to the research design phase. Each market has a unique approach to analysis and forecast. Multiple research approaches are being designed and discussed with our in-house and third-party market experts. While we have a standard approach towards analyzing data and forecasting reports, we always adopt a custom approach to changing market demographics for every report. The custom approach is designed with the input of our analyst team, keeping in mind the custom requirements of our client. The research design will also reference our databanks and parent market research designs.

Market Estimation

Data Mining

We use several paid and unpaid secondary sources, public repositories, annual reports of companies, government documents, trade records, economic records, technical journals, the World Bank database, ICIS, and the OEC database, among others, to gather initial findings. Analyzing databases through authentic public and paid sources ensure precise market estimation numbers. We also consider patents a crucial part of our data mining step for upcoming markets. An in-depth product analysis of companies operating within the scope of the study is carried out, followed by the technical and non-technical aspects of the product that are mapped concerning the study requirements. Detailed analysis of applications encompassing the scope of the market with potential demand generators is considered while factoring in the compounded annual growth rate of the market. Analysis of each segment is further aligned with the product analysis done in the previous phase to ensure data validation.

Product Analysis

The product analysis step in the market estimation phase of our study includes a comprehensive understanding and analysis of products existing in the market while evaluating the appeal of future products in the coming years. The step involves comprehensively examining the product’s features, quality, pricing, branding, and alignment with customer needs and preferences.

By conducting a thorough product analysis, we can identify their offerings’ strengths, weaknesses, opportunities, and threats. This valuable information guides us in understanding the product development, marketing strategies, and decision-making processes that the target company is adhering to, helping us refine our analysis and forecast to gain a competitive edge.

Application Analysis

Application analysis is a crucial step in our research study. This practice helps us understand the practical applications, use cases, and user experiences associated with a particular offering. By scrutinising these aspects, we gain insights into the value of a company’s product or service to its users, as well as any pain points or challenges they may encounter. Application analysis is particularly important because it helps Quadrant Market Insights to understand and analyze a company’s marketing efforts product features, and target specific user needs more effectively. This type of research also enables us to identify opportunities for innovation and expansion, ensuring that the offerings remain relevant and competitive in a rapidly evolving market landscape. Ultimately, application analysis empowers us to make informed decisions that enhance our research reports and drive long-term success.

Market Engineering & Forecast

Market Engineering and forecast is the pivotal step in our study. Quadrant Market Insights has devised a proprietary approach using legacy tools to ensure precise forecasts and analysis of our research. We consider a range of data collected from primary and secondary paid and unpaid sources, followed by validated proxies. Other major factors we consider during market engineering and forecast include micro and macroeconomic factors across the impact of technological innovation, regulatory landscape, geographic and demographic analysis, and supply chain and value chain impact. Clubbing the factors above, we undergo a bottom-up approach where we consider the data from every region within the report’s scope and sum it together to reach a global number. Quadrant Market Insights also considers the segmental analysis and application analysis studied at the bottom of the pyramid, clubbed to the global number, and cross-referenced for validating the data.

Research Validation

Data Triangulation

The current market dynamics are complex and rapidly evolving, which makes data triangulation valuable. The data triangulation approach allows us to capture multiple data sources and triangulate them on a common platform, eliminating the scope of errors and miscalculations. It offers a robust foundation for making strategic choices, optimizing marketing strategies, and driving business growth.

Our data triangulation practices often involve combining quantitative data, such as surveys or sales figures, with qualitative data, like interviews or focus groups, to comprehensively understand a market or consumer behavior. We at Quadrant Market Insights (QMI) may also use multiple data sources, such as primary and secondary data, to validate and corroborate their findings. The data triangulation is done in two steps. In the first phase, a top-down approach concerning the market demand is calculated, further divided into respective regions and segments. The analysis from the top-down approach is cross-referenced with the bottom-up approach received during market engineering.

Primary Research

Primary research is the cornerstone of empirical inquiry, a methodical process through which we directly gather firsthand information and data to address specific research questions or objectives. In this process, we perform activities involving the collection of original data directly from sources, whether they are individuals, organizations, or specific phenomena. The methods practiced by Quadrant Market Insights (QMI) for primary research can encompass a wide array of techniques, including surveys, interviews, experiments, observations, and focus groups. The advantage of primary research lies in its ability to provide fresh, tailored insights that are directly relevant to a researcher’s unique goals and inquiries. It empowers us to explore uncharted territories, test hypotheses, and uncover new knowledge, making it an indispensable tool across diverse fields. We clock several hours of paid/unpaid expert conversations depending on the complexity of the study. The expert opinions are then triangulated with our findings to ensure the authenticity of the data. The industry experts majorly encompass top-ranking government or corporate officials. Further validation is done through focused group discussion of findings with top management executives, enabling our clients to offer actionable business insights.

Industry Expert Feedback

Industry expert feedback is an invaluable facet of the Quadrant Market Insights (QMI) research process, offering a specialized lens through which we gain deeper insights into complex markets and industries. These experts, possessing years of experience and in-depth knowledge, provide critical perspectives and opinions that enrich the research process. Whether it’s navigating emerging trends, assessing competitive landscapes, or deciphering intricate regulatory environments, the input from industry experts helps us make sense of the nuances that data alone may not reveal. Their feedback not only validates our research findings but also informs strategic decisions, product development, and market entry strategies. In an ever-evolving business landscape, tapping into the wisdom of industry experts is a cornerstone of informed decision-making, enabling our organizations to stay competitive, innovative, and adaptable in their respective markets.

Cross-Industry Referencing

As part of our research validation process, we apply cross-industry referencing to strengthen the accuracy and credibility of our findings. This involves analyzing and comparing trends, data points, and strategic movements across industries that are economically, technologically, or operationally connected to the target market. By examining broader patterns and shared external influences, we can validate key assumptions, identify gaps, and refine our projections.

Cross-industry referencing helps us ensure that the insights we generate are not limited to a siloed perspective but are grounded in a wider market context. It enables us to assess whether observed developments are unique to the target industry or part of a larger economic or technological trend. This approach adds a critical layer of depth to our analysis and increases the confidence in our conclusions. Ultimately, it allows us to deliver more holistic, insightful, and actionable market research to our clients.

Report Writing

Report Guidelines

Quadrant Market Insights (QMI) has taken into consideration best writing practices and design styles so that it is easy to read and understand throughout the report. It allows us to portray the data and insights that we have collected over time into actionable insights. These reports serve as a bridge between raw information and informed decision-making, providing businesses, organizations, and stakeholders with a comprehensive understanding of market dynamics, consumer behavior, and competitive landscapes. Through well-crafted reports, we communicate our findings, conclusions, and recommendations, helping clients and decision-makers chart strategic courses, refine marketing strategies, launch products, and stay ahead in today’s ever-changing business environment. Effective report writing is not only an essential skill in the field of market research but also a powerful tool for driving growth and success. We have designed the report in such a manner that readers will be easily able to gain key insights, market forecasts, quantitative analysis, company profiles, market strategies, and industry connects, among others. Apart from the report deliverable, readers can easily connect with QMI analysts for any further queries or consultation.

Generating Datapack

Data pack is a comprehensive document in Excel format that meticulously compiles, organizes, and offers a detailed snapshot of market trends, projections, and key indicators. It is an indispensable resource for businesses, investors, and strategists looking to understand market dynamics, assess growth opportunities, and make data-driven choices. The data pack not only simplifies the interpretation of extensive data but also allows for customizable analysis, empowering users to explore scenarios, develop strategies, and stay agile in response to evolving market conditions.

In today’s data-driven business landscape, generating a well-structured data pack is not just a best practice; it’s a strategic necessity for those seeking a competitive edge in their respective markets. At Quadrant Market Insights, our readers receive accurate data that has been validated by analysts across the board as well as industry experts.

Optimizing Information

Optimising gathered information to make it presentable is a critical step practices by Quadrant Market Insights. It allows us to transform raw data into actionable insights. In the era of information overload, the ability to distil, refine, and present data effectively is paramount. This process involves organizing data in a coherent and visually appealing manner and translating complex findings into a format easily digestible by decision-makers. Market researchers can unlock the full potential of their research efforts by harnessing the power of data visualization, concise summaries, and clear narratives. The result is not just information but a compelling story that informs strategic choices supports evidence-based decisions, and empowers organizations to navigate the dynamic landscapes of modern markets with confidence and clarity.

Report Generation

Generating comprehensive reports from data collected in market research is the culmination of a rigorous analytical process that transforms raw information into a valuable strategic asset. These reports are the cornerstone of informed decision-making, offering a detailed and structured account of market dynamics, consumer insights, and competitive landscapes. Through meticulous data analysis and expert interpretation, market researchers distill complex findings into a clear and coherent narrative. These reports not only showcase the significance of the data but also provide actionable recommendations that guide businesses, organizations, and stakeholders in shaping strategies, refining products, and staying competitive in dynamic markets. In an age where data drives success, comprehensive market research reports serve as indispensable tools for unlocking opportunities and achieving sustained growth.