Crowdsourced Testing Market Size - By Component(Software, Services), by Testing Type(Performance Testing, Functionality Testing, Usability Testing, Localization Testing, Security Testing), by Platform(Web Application, Mobile Application), by Organization size(Small and medium sized enterprises, Large enterprises), by Deployment mode(Cloud, On-premises), by Verticals(Telecom and IT, BFSI, Healthcare and Life Sciences, Retail, Media and Entertainment) & Region - Forecasts 2023 - 2033
- PUBLISHED ON
- 2024-09-27
- NO OF PAGES
- 256
- CATEGORY
- Information Communication & Technology
Global Crowdsourced Testing Market Analysis by Component, Testing Type, Platform, Organization Size, Deployment, Verticals and Region and segments forecast till 2033
Market Overview
The global Crowdsourced Testing market was worth USD 1,600 million in 2022 and is anticipated to amplify at a CAGR of 9.41% over 2023-2033, thereby accumulating USD 2,500 million by end of the analysis timeline.
Crowdsourced testing, otherwise called crowd testing, is a new way to deal with QA. It consolidates human abilities with technology to wipe out some of the issues engaged with customary testing. Rather than completing testing inside an association, crowdsourcing uses a dispersed, temporary labour force comprising of various individual testers. This on-demand local area of testers can test mobile applications more rapidly and effectively than an in-house group.
Crowd testing offers organizations a potential chance to have their items tested by real clients on real gadgets across the globe, ensuring a client driven emphasis. The main consideration driving the development of the global crowdsourced testing market during the forecast is the rising number of gadgets combined with the increasing working systems as well as applications.
Moreover, the growing need to adopt a cost-effective software development process is expected to drive the reception of crowdsourced testing innovations and administrations which thusly will drive the progression of Crowdsourced Testing Market. Moreover, crowdsource testing administrations fills in as a delivery model to live up to clients' assumption. Subsequently, the development of Crowdsourced Testing Market can be credited to the rising client assumptions for smooth application and web performance.
For scaling QA, associations are progressively utilizing crowdsourced testing services. With the presentation of General Data Protection Regulation (GDPR), another European Union (EU) legal framework that came into force on 25th May 2020, organizations are working out strategies to consent to the guideline in the most ideal way.
In software testing, crowdsourcing is predominantly being used; thus, it brings up issues about information protection and security. For agreeing with the GDPR guidelines, crowd testers are expected to utilize test information that matches no private information. Henceforth, to perform end-client testing successfully, acquiring and applying proper test information is an absolute necessity, particularly for complex test situations. These guidelines present provokes analysers to perform crowdsourced testing actually and produce ideal outcomes.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 1,600 Million |
Market Forecast in 2033 | USD 2,500 Million |
CAGR % 2023-2033 | 9.41% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Component, Testing Type, Platform, Organization Size, Deployment, and Verticals |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Cigniti Technologies, Cobalt Labs Inc., Crowd4Test, Crowdsprint, Digivante Ltd, EPAM Systems, Inc., Flatworld Solutions Pvt. Ltd., Global App Testing, ImpactQA, Infosys Limited, MyCrowd, QA Mentor, Inc., Qualitest Group, Qualitrix, Rainforest QA, Inc., StarDust, Synack, Test Yantra Software Solutions, Testbirds GmbH, Testlio Inc., Testunity, and Ubertesters Inc., and Bugcrowd Inc. |
Impact of COVID
The COVID-19 pandemic has had a mixed impact on the crowdsourced testing market. On one hand, the pandemic has increased the demand for digital products and services, which has led to an increased need for software testing. On the other hand, the pandemic has led to economic uncertainty, which has resulted in a reduction in IT budgets and delayed or cancelled projects. The shift towards remote work and virtual collaboration has also affected the crowdsourced testing market, with more companies relying on remote testing services to ensure the quality of their software products. However, the pandemic has also presented some logistical challenges in terms of coordinating and managing remote testing teams.
Overall, while the COVID-19 pandemic has had some negative impacts on the crowdsourced testing market, the increased demand for digital products and remote testing services has also presented opportunities for growth and expansion.
Component Insights
The services segment dominates the crowdsourced testing market. This is because the services segment includes various types of crowdsourced testing services such as functional testing, usability testing, security testing, and others, which are increasingly being adopted by organizations to ensure the quality of their software products. Additionally, the services segment provides end-to-end testing services that involve the use of a large community of testers, which enables organizations to gather diverse feedback and identify bugs that might go unnoticed in traditional in-house testing methods. On the other hand, the software segment includes platforms and tools that enable organizations to manage crowdsourced testing projects and track testing results, but they do not directly contribute to the testing process itself.
Testing Type Insights
Performance testing is one of the most critical types of software testing as it helps evaluate the speed, stability, and scalability of a software application. In crowdsourced testing, where a large number of testers from diverse backgrounds and locations are involved, performance testing becomes even more important as it helps identify how the software will perform in real-world scenarios with different network speeds, device types, and usage patterns.
Platform Insights
Web applications dominate the crowdsourced testing market because they are widely used by businesses and consumers alike, and are often the primary point of contact between a company and its customers. As a result, ensuring the quality and reliability of web applications is essential for businesses to maintain their reputation and customer satisfaction. Crowdsourced testing provides an effective way for businesses to test their web applications across multiple platforms, devices, and locations, and identify potential issues before they impact the end-users. Additionally, crowdsourced testing allows businesses to access a diverse pool of skilled testers from around the world, who can provide valuable feedback and insights on the usability and functionality of web applications. This helps businesses to reduce testing time and costs while improving the quality of their web applications.
Organization Size Insights
Small and medium-sized enterprises (SMEs) dominate the crowdsourced testing market due to several factors. First, crowdsourced testing offers cost-effective testing solutions for SMEs, who may not have the resources or budget to invest in large-scale testing teams or software. Crowdsourced testing allows SMEs to tap into a global pool of testers and receive feedback on their products in a timely and efficient manner. Secondly, crowdsourced testing provides SMEs with access to a diverse group of testers with varying backgrounds, devices, and locations. This enables SMEs to receive comprehensive feedback on their products, ensuring that they are compatible and user-friendly for a wider audience.
Deployment Insights
The cloud deployment mode is the fastest growing in the crowdsourced testing market due to its several benefits. One of the key advantages is scalability, as cloud-based testing allows companies to easily scale their testing needs up or down based on their requirements. Additionally, cloud-based testing eliminates the need for companies to invest in and maintain expensive hardware and software infrastructure for testing, which can save them both time and money. Cloud-based testing also offers more flexibility in terms of testing environments and allows for collaboration among testers regardless of their geographic location. Finally, the cloud deployment mode enables faster deployment and delivery of test results, which is crucial in today's fast-paced business environment.
Verticals Insights
The Telecom and IT industry is the fastest growing in the crowdsourced testing market due to several factors. Firstly, the industry is highly competitive, and companies are under constant pressure to release products and services to Crowdsourced Testing Market faster than their competitors. Secondly, the industry is highly dependent on technology, which requires rigorous testing to ensure the quality and reliability of products and services. Additionally, the Telecom and IT industry is witnessing a surge in demand for mobile and web-based applications, cloud computing, and other technologies. As a result, the need for quality testing services has increased, driving the growth of the crowdsourced testing market.
Regional Insights
In term of geographic region, the Global Crowdsourced Testing Market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Based on Regional Analysis, North America is assessed to hold the most elevated part of the share of Crowdsourced Testing Market in 2022. North America is assessed to catch the biggest share of the overall Crowdsourced testing market.
Competitive Analysis
Key players operating in the worldwide Crowdsourced Testing Market are Cigniti Technologies, Cobalt Labs Inc., Crowd4Test, Crowdsprint, Digivante Ltd, EPAM Systems, Inc., Flatworld Solutions Pvt. Ltd., Global App Testing, ImpactQA, Infosys Limited, MyCrowd, QA Mentor, Inc., Qualitest Group, Qualitrix, Rainforest QA, Inc., StarDust, Synack, Test Yantra Software Solutions, Testbirds GmbH, Testlio Inc., Testunity, and Ubertesters Inc., and Bugcrowd Inc.
Recent News
· In May 2021 NRI Australia acquired Planit, with this securing, Planit keeps on working under NRI Australia's image. The procurement is in accordance with NRI's methodology to grow its ability and worldwide footprint as a feature of the ""Vision2022"" system, which means to extend NRI's client base in other modern areas and upgrade its presence across Asia Pacific, Europe, and North America.
· In February 2021 Qualitest gained QA Infotech, an India-based organization. It is one of the biggest autonomous offshore testing suppliers having well established relationship with marquee clients, particularly in the eLearning, distributing, medical services, travel, and retail verticals. This procurement will upgrade Qualitest's automation abilities and global right shoring Quality Assurance contributions.
1. Global CROWDSOURCED TESTING Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. CROWDSOURCED TESTING Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years – 2020 to 2021
1.3.2. Projected Data Reporting Years – 2022 to 2033
1.3.3. Reporting Data Parameters – Value (US$ Million)
1.4. Global CROWDSOURCED TESTING Market Scope and Market Estimation
1.4.1. Global CROWDSOURCED TESTING Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2. Global CROWDSOURCED TESTING Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5. CROWDSOURCED TESTING Market Segmentation
1.5.1. By Component of Global CROWDSOURCED TESTING Market
1.5.2. By Testing Type of Global CROWDSOURCED TESTING Market
1.5.3. By Platform of Global CROWDSOURCED TESTING Market
1.5.4. By Organization size of Global CROWDSOURCED TESTING Market
1.5.5. By Deployment mode of Global CROWDSOURCED TESTING Market
1.5.6. By Verticals of Global CROWDSOURCED TESTING Market
1.5.7. Key Regions of Global CROWDSOURCED TESTING Market
2. Global CROWDSOURCED TESTING Market - Executive Summary
2.1. Global CROWDSOURCED TESTING Market – Summary & Snapshot
2.2. Global CROWDSOURCED TESTING Market, By Component (US$ Million)
2.3. Global CROWDSOURCED TESTING Market, By Testing Type (US$ Million)
2.4. Global CROWDSOURCED TESTING Market, By Platform (US$ Million)
2.5. Global CROWDSOURCED TESTING Market, By Organization (US$ Million)
2.6. Global CROWDSOURCED TESTING Market, By Deployment mode (US$ Million)
2.7. Global CROWDSOURCED TESTING Market, By Verticals (US$ Million)
2.8. Global CROWDSOURCED TESTING Market, By Geography (US$ Million)
2.9. Global CROWDSOURCED TESTING Market Outlook & Future Opportunities
3. CROWDSOURCED TESTING Market Trends, Outlook, and Factors Analysis
3.1. Global CROWDSOURCED TESTING Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global CROWDSOURCED TESTING Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. CROWDSOURCED TESTING Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. Need for scaling quality assurance of software for enhancing customer experience
3.2.2. Restraints
3.2.2.1. Concerns over data privacy regulations across the globe
3.2.3. Opportunities
3.2.3.1. Growth of IoT to increase the need for end-user testing services
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porter’s Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of CROWDSOURCED TESTING Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of CROWDSOURCED TESTING Market
3.9.1. By Component
3.9.2. By Testing Type
3.9.3. By Platform
3.9.4. By Organization size
3.9.5. By Deployment mode
3.9.6. By Verticals
3.9.7. By Regions
4. Global CROWDSOURCED TESTING Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global CROWDSOURCED TESTING Market, 2020 – 2021 (US$ Million)
4.2. Global CROWDSOURCED TESTING Market, By Component, 2020 to 2021 (US$ Million)
4.3. Global CROWDSOURCED TESTING Market, By Testing Type, 2020 to 2021 (US$ Million)
4.4. Global CROWDSOURCED TESTING Market, By Platform, 2020 to 2021 (US$ Million)
4.5. Global CROWDSOURCED TESTING Market, By Organization size, 2020 to 2021 (US$ Million)
4.6. Global CROWDSOURCED TESTING Market, By Deployment mode, 2020 to 2021 (US$ Million)
4.7. Global CROWDSOURCED TESTING Market, By Verticals, 2020 to 2021 (US$ Million)
4.8. Global CROWDSOURCED TESTING Market, By Region, 2020 to 2021 (US$ Million)
5. Global CROWDSOURCED TESTING Market Estimates & Forecast Trend Analysis, by Component
5.1. Global CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, by Component, 2022 & 2033
5.2. Global CROWDSOURCED TESTING Market Revenue (US$ Million) Estimates and Forecasts, by Component, 2022 to 2033
5.2.1. Software
5.2.2. Services
6. Global CROWDSOURCED TESTING Market Estimates & Forecast Trend Analysis, by Testing Type
6.1. Global CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, by Testing Type, 2022 & 2033
6.2. Global CROWDSOURCED TESTING Market Revenue (US$ Million) Estimates and Forecasts, by Testing Type, 2022 to 2033
6.2.1. Performance Testing
6.2.2. Functionality Testing
6.2.3. Usability Testing
6.2.4. Localization Testing
6.2.5. Security Testing
6.2.6. Others
7. Global CROWDSOURCED TESTING Market Estimates & Forecast Trend Analysis, by Platform
7.1. Global CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, by Platform, 2022 & 2033
7.2. Global CROWDSOURCED TESTING Market Revenue (US$ Million) Estimates and Forecasts, by Platform, 2022 to 2033
7.2.1. Web Application
7.2.2. Mobile Application
7.2.3. Others
Global CROWDSOURCED TESTING Market Estimates & Forecast Trend Analysis, by Organization size
7.3. Global CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, by Organization size, 2022 & 2033
7.4. Global CROWDSOURCED TESTING Market Revenue (US$ Million) Estimates and Forecasts, by Organization size, 2022 to 2033
7.4.1. Small and medium sized enterprises
7.4.2. Large enterprises
Global CROWDSOURCED TESTING Market Estimates & Forecast Trend Analysis, by Deployment mode
7.5. Global CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, by Deployment mode, 2022 & 2033
7.6. Global CROWDSOURCED TESTING Market Revenue (US$ Million) Estimates and Forecasts, by Deployment mode, 2022 to 2033
7.6.1. Cloud
7.6.2. On-premises
Global CROWDSOURCED TESTING Market Estimates & Forecast Trend Analysis, by Verticals
7.7. Global CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, by Verticals, 2022 & 2033
7.8. Global CROWDSOURCED TESTING Market Revenue (US$ Million) Estimates and Forecasts, by Verticals, 2022 to 2033
7.8.1. Telecom and IT
7.8.2. BFSI
7.8.3. Healthcare and Life Sciences
7.8.4. Retail
7.8.5. Media and Entertainment
7.8.6. Others
8. Global CROWDSOURCED TESTING Market Analysis and Forecast, by Region
8.1. Global CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033
8.2. Global CROWDSOURCED TESTING Market Revenue (US$ Million) Estimates and Forecasts, by Region, 2022 to 2033
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Middle East and Africa
8.2.5. Latin America
9. North America CROWDSOURCED TESTING Market: Estimates & Forecast Trend Analysis
9.1. North America CROWDSOURCED TESTING Market Assessments & Key Findings
9.2. North America CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, 2022 & 2033
9.3. North America CROWDSOURCED TESTING Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
9.3.1. By Component
9.3.2. By Testing Type
9.3.3. By Platform
9.3.4. By Organization size
9.3.5. By Deployment mode
9.3.6. By Verticals
9.3.7. By Major Country
9.3.7.1. The U.S.
9.3.7.2. Canada
10. Europe CROWDSOURCED TESTING Market: Estimates & Forecast Trend Analysis
10.1. Europe CROWDSOURCED TESTING Market Assessments & Key Findings
10.2. Europe CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, 2022 & 2033
10.3. Europe CROWDSOURCED TESTING Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
10.3.1. By Component
10.3.2. By Testing Type
10.3.3. By Platform
10.3.4. By Organization size
10.3.5. By Deployment mode
10.3.6. By Verticals
10.3.7. By Major Country
10.3.7.1. Germany
10.3.7.2. The U.K.
10.3.7.3. France
10.3.7.4. Italy
10.3.7.5. Spain
10.3.7.6. Rest of Europe (includes all other European countries)
11. Asia Pacific CROWDSOURCED TESTING Market: Estimates & Forecast Trend Analysis
11.1. Asia Pacific CROWDSOURCED TESTING Market Assessments & Key Findings
11.2. Asia Pacific CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3. Asia Pacific CROWDSOURCED TESTING Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
11.3.1. By Component
11.3.2. By Testing Type
11.3.3. By Platform
11.3.4. By Organization size
11.3.5. By Deployment mode
11.3.6. By Verticals
11.3.7. By Major Country
11.3.7.1. China
11.3.7.2. Japan
11.3.7.3. India
11.3.7.4. ASEAN
11.3.7.5. South Korea
11.3.7.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
12. Middle East & Africa CROWDSOURCED TESTING Market: Estimates & Forecast Trend Analysis
12.1. Middle East & Africa CROWDSOURCED TESTING Market Assessments & Key Findings
12.2. Middle East & Africa CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. Middle East & Africa CROWDSOURCED TESTING Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
12.3.1. By Component
12.3.2. By Testing Type
12.3.3. By Platform
12.3.4. By Organization size
12.3.5. By Deployment mode
12.3.6. By Verticals
12.3.7. By Major Country
12.3.7.1. GCC
12.3.7.2. South Africa
12.3.7.3. Egypt
12.3.7.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
13. Latin America CROWDSOURCED TESTING Market: Estimates & Forecast Trend Analysis
13.1. Latin America Market Assessments & Key Findings
13.2. Latin America CROWDSOURCED TESTING Market Share (%) Estimates and Forecasts, 2022 & 2033
13.3. Latin America CROWDSOURCED TESTING Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
13.3.1. By Component
13.3.2. By Testing Type
13.3.3. By Platform
13.3.4. By Organization size
13.3.5. By Deployment mode
13.3.6. By Verticals
13.3.7. By Major Country
13.3.7.1. Brazil
13.3.7.2. Mexico
13.3.7.3. Rest of Latin America (includes all other Latin America countries)
14. Competitive Landscape
14.1. CROWDSOURCED TESTING Market Revenue Share Analysis (%), by Major Players (2021)
14.2. CROWDSOURCED TESTING Market Competition Matrix, by Leading Players
14.3. CROWDSOURCED TESTING List of Emerging, Prominent and Leading Players
14.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.
15. Company Profiles
15.1. Bugcrowd Inc.
15.1.1. Company Overview & Insights
15.1.2. Financial Performance
15.1.3. Product / Service Portfolio
15.1.4. Geographical Footprint & Share
15.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
15.2. Cigniti Technologies
15.3. Cobalt Labs Inc.
15.4. Crowd4Test
15.5. Crowdsprint
15.6. Digivante Ltd
15.7. EPAM Systems, Inc.
15.8. Flatworld Solutions Pvt. Ltd.
15.9. Global App Testing
15.10. ImpactQA
15.11. Infosys Limited
15.12. MyCrowd
15.13. QA Mentor, Inc.
15.14. Qualitest Group
15.15. Qualitrix
15.16. Rainforest QA, Inc.
15.17. StarDust
15.18. Synack
15.19. Test Yantra Software Solutions
15.20. Testbirds GmbH
15.21. Testlio Inc.
15.22. Testunity
15.23. Ubertesters Inc.
15.24. Others
16. Assumptions and Research Methodology
16.1. Data Mining
16.2. Secondary Research
16.3. Primary Research
16.4. Subject Matter Expert Advice
16.5. Quality Check
16.6. Final Review
16.7. Data Triangulation
16.8. Bottom-Up Approach
16.9. Top Down Approach
16.10. Research Flow
16.11. Key Insights from Industry Experts
16.12. Data Sources
16.13. Assumptions
16.14. Limitations
17. Conclusions and Recommendations
17.1. Key Research Findings and Conclusion
Key Insights & Recommendations from Analysts
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
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- Monitor client satisfaction
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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