Market Sizing Research Services

Market Sizing Research Process We Follow

At Flatworld, our market sizing solutions are necessary if you want to make informed decisions and leverage your investment for future growth. With the help of interviews, data mining, competition analysis, and regular consulting, we can help you discover new and upcoming markets and capture them. Our process for market sizing research services includes the following steps -

Defining the Market Size

We understand the amount of detail necessary to properly scope your target market. We begin by defining which of the following categories suit your target market the best -

1. Total Available Market (TAM) - Refers to the combined revenue or unit volume in your target market
2. Served Available Market (SAM) - Refers to the percentage or size of TAM that your company can hope to serve based on services, products, etc. while keeping geographical constraints in mind
3. Share of Market (SOM) - Refers to the percentage of SAM that your company currently serves or plans to serve in the future

We begin by closing in on which services are part of your TAM, then narrow it down based on geography, while also keeping realistic timeframes in mind. By defining what we want to include in the final market sizing research, we can more accurately determine your market potential and the estimated share of the market.

Define the Approach

Based on your requirements, we use two different methodologies to determine your market size: top-down or bottom-up. If required, we also use a mix of both the methodologies in order to gain better confidence in our final market sizing research.

In the top-down approach, we use broad market size figures and determine the overall percentage of the market as it represents. The bottom-up method, on the other hand, builds TAM by adding the many variables of your target market. This method is generally considered more accurate but needs longer time to compile as well as more information to complete.

Choose Relevant Sources

Based on the approach selected, we decide to estimate the market size using primary or secondary research for existing data as well as desk research. We also maintain many subscriptions to syndicated research findings and have access to consolidates research data for more than 10 years as well as extensive whitepapers. If your competitors are publicly traded companies then we also receive access to analyst and investor reports.

If required, we also perform on-site visits to confirm or contradict findings that cannot be established without a visit and is important for determining key information such as market performance, market trends, competitive positioning, etc.

Data Structuring

Information related to the latest trends in the market is especially important for a market sizing research service provider to understand the entire scope of the market. In order to do this, we check for trends that are currently in vogue, as well as trends that were once important. Thereafter, we start structuring the data collected in the form of groups or themes. We can structure qualitative data analysis and findings into distinct sections and identify important data themes.

Data Analysis

It is necessary to develop multiple estimated using different approaches, also known as triangulation, ensuring we can deliver high-quality market sizing estimates. This is important especially if the approach towards this was radically different in your project. When possible, we attempt to verify through means of additional research as well.

During this phase, we make it a point to ensure the definition comes out clearly while verifying each significant finding with multiple sources, allowing you to leverage the veracity of our information for better results.