Global Artificial Intelligence in Healthcare Market, By Solution (Hardware and Software & Services), By Technology (Speech Recognition, Querying Method, Natural Language Processing, Machine Learning, and Context Aware Processing), By Application (Imaging & Diagnostics, Drug Discovery, Lifestyle Management & Monitoring, Emergency Room & Hospital Management, Insights & Risk Analytics, Wearables, Virtual Assistants, and Others), By End User (Hospitals, Pharmaceutical Organizations, Diagnostic Centers, and Clinics), and By Region - Trends, and Forecast till 2025

Artificial Intelligence in Healthcare Market - Insights

Artificial intelligence (AI) refers to creation of unique systems with the help of algorithms and software that can perform certain tasks without human intervention and instructions. Artificial intelligence comprises integration of several technologies such as machine learning, natural language processing, reasoning, and perception. AI is used in healthcare for approximation of human cognition and analysis of complex medical and diagnostic imaging data. Artificial intelligence is primarily used in healthcare to analyze the relationship between treatment techniques and patient outcomes. AI programs are deployed in medical practices such as diagnostic processes, drug development, personalized medicines, and patient monitoring care. For instance, AI could aid in clinical processes by checking the vital signs, asking questions, and giving prescriptions to the patients. AI systems can also be used for alerts and reminders, image interpretation, information retrieval, and therapy planning during medical procedures. Deep learning technology is used for image recognition, signal recognition, and data mining and is the most widely used form of AI technology.

Artificial intelligence could aid in improving basic healthcare facilities, which could help the doctors to invest more time on critical cases

Doctor-population ratio has become major concern in emerging economies such as India. According to official figure presented in Indian Parliament, about 1,022,859 allopathic doctors registered with the state medical councils or Medical Council of India as on March 31, 2017. Considering as high as 80% availability, around 0.8 million doctors may be available for service in India, which translates to 0.62:1,000 doctor-population ratio that is below the WHO standard (i.e. 1:1000). Developed economies such as the U.S. have a high doctor-population ratio, however, may not be sufficient enough to meet demand of rapidly increasing population. According to a report by Association of American Medical Colleges, U.S. may face the shortage of more than 90,000 doctors by 2020, including 45,000 patient care physicians.

To make healthcare accessible to all, in this low doctor-population ratio (in case of India) economies or in economies such as the U.S., development of innovative technologies such as AI is important. It may aid in giving general advice to patients and predict the fall in healthcare facilities, readmission rate, and even death. For instance, Your.MD, an AI empowered system, provides general advice. The chatbot asks user various questions to link these information or symptoms to causes and then provides easy-to-understand information about individual’s medical conditions. Furthermore, a Siliocon Valley-based hospital, El Camino Hospital implemented AI for predicting fall in the hospital in September 2017. According to the hospital, in just six months technology was helpful in reducing the rate of dangerous fall by 39%. Moreover, in January 2018, a team of six scientists at Stanford University, utilized this technology to predict death of people. If successfully implemented, this can significantly improve palliative care. A Netherlands-based company, Vektis Intelligence, uses artificial intelligence to analyze data to highlight mistakes in treatments, helps in avoiding unnecessary patient hospitalizations, and helps in streamlining workflow inefficiencies. Successful implementation of AI to improve basic healthcare facilities by highlighting error in prescription or predicting fall or death is expected to boost growth in artificial intelligence in healthcare market.

The global artificial intelligence in healthcare market was valued at US$ 714.4 million in 2016 and is expected to witness a robust CAGR of 35.5% over the forecast period (2017–2025).

Figure No.1: Global Artificial Intelligence in Healthcare Market, Regional Share (%), 2017 & 2025

artificial intelligence in healthcare market

Figure 2. Companies in Artificial Intelligence in Healthcare Market

Company Name Product/Service
Google Deepmind Health Google Deepmind Health project — mine medical records
IBM WatsonPaths An AI algorithm, which would allow physicians to make more informed and accurate decisions
Careskore (2016) A cloud-based predictive analytics platform for health systems and physician organizations
Zephyr Health (2016) Combined databases and machine-learning algorithms to help gain insights into a diverse set of data
Oncora Medical (2016) A data analytics platform to help cancer research and treatment

Source: Coherent Market Insights Analysis (2017)

Increasing research and development for application of artificial intelligence in healthcare is expected to boost growth of the market

Artificial intelligence systems are mainly categorized into machine learning techniques and natural language processing. Machine learning techniques involve analysis of structured data such as genetic data, and imaging data, whereas, natural language processing involves extracting information from unstructured data such as clinical notes, and medical journals. Microsoft Corporation and Adaptive Biotechnologies partnered to combine artificial intelligence with human immune system sequencing (from Adaptive Biotechnologies) in January 2018. The University of Massachusetts Amherst Center for Data Science partnered with Chan Zuckerberg Initiative (CZI) in January 2018 to accelerate healthcare research and development using artificial intelligence. Furthermore, January 2018, Wilfrid Laurier University researchers and health researchers in Waterloo University collaborated to study the use of artificial intelligence for early detection of Alzheimer’s. Owkin France raised US$ 11 million in January 2018, to develop artificial algorithms for speeding up drug development process. Biotricity, Inc. —a medical diagnostic and consumer healthcare technology company —is expanding research and development, to include artificial intelligence into its product offerings. Furthermore, Ubenwa — a Nigerian Artificial Intelligence health startup — founded in 2014 —developed a mobile app to detect asphyxia in newborn babies using machine learning. 

Key players in the market are focusing on collaborations in order to expand its presence in the market. For instance, in 2017, Nvidia Corporation collaborated with GE Healthcare to speed up the adoption of AI in healthcare. As per agreement, Nvidia Corporation is expected to integrate its artificial intelligence (AI) to GE Healthcare’s 500,000 imaging devices, globally.

Some major players operating in the artificial intelligence (AI) in healthcare market are IBM Corporation, Google, Inc., NVIDIA Corporation, Microsoft Corporation, iCarbonX, Next IT Corp., CloudMex Inc., Carescore, Atomwise Inc., Zephyr Health Inc., Deep Genomics Inc., Medtronic Plc., Koninkiljke Philips N.V., and Oncora Medical, Inc.

Artificial intelligence is expected to aid in improving preventative care with the help of big data crunch and study of all the factors associated with disease diagnosis and treatment approach and assessment of the same. Physicians can take better decisions associated with treatment by relying on relevant data provided by artificial intelligence technologies. These technologies include algorithms, computer vision, machine learning, image recognition, speech recognition, cognitive computing, semantic web, and natural language processing. Features of artificial intelligence include pattern identification, management of big data, and eliminating bias. Artificial Intelligence capability heavily depends on the quantity and quality of data accessible to the technology, and hence, the growth in the market is dependent on its accessibility to such data.

Market Dynamics

Increasing application of AI technologies, from pharma drug development to patient care is expected to support growth of artificial intelligence in healthcare market. Moreover, increasing number of collaborations among leading AI vendors and life sciences companies may help in rapid introduction of AI in medical devices and drug development. Pharmaceutical organizations can speed up the process of drug development, from drug discovery to commercialization, by using artificial intelligence. It can aid in development of personalized medicine. It is also increasingly being used for applications in advanced disease management such as cancer diagnosis and treatment, as studies have suggested that artificial intelligence may detect breast cancer spread to lymph nodes. For instance, Researchers from MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), Harvard Medical School and Massachusetts General Hospital collaborated to apply AI in detection and diagnosis of breast cancer. The model developed by these scientists correctly diagnosed 97% of the cases. Artificial intelligence holds major potential in medical imaging and diagnosis of the diseases. Therefore, government organizations are increasing research in this field. For instance, In October 2017, National Clinical Research Center for Cancer (NCRCC) in China signed a deal with the Institute of Computing Technology under the Chinese Academy of Sciences (CAS), in order to use artificial intelligence in medical imaging.

Key features of the study:

  • This report provides in-depth analysis of artificial intelligence in healthcare market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017–2025), considering 2016 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global artificial intelligence in healthcare market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies
  • Key companies covered as a part of this study include IBM Corporation, Google, Inc., NVIDIA Corporation, Microsoft Corporation, iCarbonX, Next IT Corp., CloudMex Inc., Atomwise Inc., Zephyr Health Inc., Medtronic Plc., Koninkiljke Philips N.V., and Oncora Medical, Inc.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, technology upgrades, market expansion, and marketing tactics
  • The global artificial intelligence in healthcare market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the artificial intelligence in healthcare market

Detailed Segmentation:

  • Global Artificial Intelligence in Healthcare Market, By Solution:
    • Hardware
    • Software & Services
  • Global Artificial Intelligence in Healthcare Market, By Technology:
    • Speech Recognition
    • Querying Method
    • Natural Language Processing
    • Machine Learning
    • Context Aware Processing
  • Global Artificial Intelligence in Healthcare Market, By Application:
    • Imaging & Diagnostics
    • Drug Discovery
    • Lifestyle Management & Monitoring
    • Emergency Room & Hospital Management
    • Insights & Risk Analytics
    • Wearables
    • Virtual Assistants
    • Others
  • Global Artificial Intelligence in Healthcare Market, By End User:
    • Hospitals     
    • Pharmaceutical Organizations
    • Diagnostic Centers
    • Clinics
  • Global Artificial Intelligence in Healthcare Market, By Geography:
    • North America
      • By Solution
        • Hardware
        • Software & Services
      • By Technology:
        • Speech Recognition
        • Querying Method
        • Natural Language Processing
        • Machine Learning
        • Context Aware Processing
      • By Application:
        • Imaging & Diagnostics
        • Drug Discovery
        • Lifestyle Management & Monitoring
        • Emergency Room & Hospital Management
        • Insights & Risk Analytics
        • Wearables
        • Virtual Assistants
        • Others
      • By End User:
        • Hospitals
        • Pharmaceutical Organizations
        • Diagnostic Centers
        • Clinics
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Solution
        • Hardware
        • Software & Services
      • By Technology:
        • Speech Recognition
        • Querying Method
        • Natural Language Processing
        • Machine Learning
        • Context Aware Processing
      • By Application:
        • Imaging & Diagnostics
        • Drug Discovery
        • Lifestyle Management & Monitoring
        • Emergency Room & Hospital Management
        • Insights & Risk Analytics
        • Wearables
        • Virtual Assistants
        • Others
      • By End User:
        • Hospitals
        • Pharmaceutical Organizations
        • Diagnostic Centers
        • Clinics
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Solution
        • Hardware
        • Software & Services
      • By Technology:
        • Speech Recognition
        • Querying Method
        • Natural Language Processing
        • Machine Learning
        • Context Aware Processing
      • By Application:
        • Imaging & Diagnostics
        • Drug Discovery
        • Lifestyle Management & Monitoring
        • Emergency Room & Hospital Management
        • Insights & Risk Analytics
        • Wearables
        • Virtual Assistants
        • Others
      • By End User:
        • Hospitals
        • Pharmaceutical Organizations
        • Diagnostic Centers
        • Clinics
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Solution
        • Hardware
        • Software & Services
      • By Technology:
        • Speech Recognition
        • Querying Method
        • Natural Language Processing
        • Machine Learning
        • Context Aware Processing
      • By Application:
        • Imaging & Diagnostics
        • Drug Discovery
        • Lifestyle Management & Monitoring
        • Emergency Room & Hospital Management
        • Insights & Risk Analytics
        • Wearables
        • Virtual Assistants
        • Others
      • By End User:
        • Hospitals
        • Pharmaceutical Organizations
        • Diagnostic Centers
        • Clinics
      • By Country:
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East
      • By Solution
        • Hardware
        • Software & Services
      • By Technology:
        • Speech Recognition
        • Querying Method
        • Natural Language Processing
        • Machine Learning
        • Context Aware Processing
      • By Application:
        • Imaging & Diagnostics
        • Drug Discovery
        • Lifestyle Management & Monitoring
        • Emergency Room & Hospital Management
        • Insights & Risk Analytics
        • Wearables
        • Virtual Assistants
        • Others
      • By End User:
        • Hospitals
        • Pharmaceutical Organizations
        • Diagnostic Centers
        • Clinics
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Solution
        • Hardware
        • Software & Services
      • By Technology:
        • Speech Recognition
        • Querying Method
        • Natural Language Processing
        • Machine Learning
        • Context Aware Processing
      • By Application:
        • Imaging & Diagnostics
        • Drug Discovery
        • Lifestyle Management & Monitoring
        • Emergency Room & Hospital Management
        • Insights & Risk Analytics
        • Wearables
        • Virtual Assistants
        • Others
      • By End User:
        • Hospitals
        • Pharmaceutical Organizations
        • Diagnostic Centers
        • Clinics
      • By Country:
        • Central Africa
        • South Africa
        • North Africa
  • Company Profiles
    • IBM Corporation*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Google, Inc.
    • NVIDIA Corporation
    • Microsoft Corporation
    • iCarbonX
    • Next IT Corp.
    • Guardant Health
    • CloudMex Inc.
    • Atomwise Inc.
    • Zephyr Health Inc.
    • Medtronic Plc.
    • Koninkiljke Philips N.V.
    • Oncora Medical, Inc.

"*" marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Solution
      • Market Snippet, By Technology
      • Market Snippet, By Application
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Artificial Intelligence in Healthcare Overview
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • PEST Analysis
    • PORTER’s Five Forces Analysis
    • Regulatory Scenario
    • Technological Evolution
    • Potential Application Areas
    • Recent Product Launches
    • Partnerships and Collaborations
    • Start-Up Funding Scenario
  4. Global Artificial Intelligence In Healthcare Market, By Solution, 2017–2025 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, 2017–2025
      • Segment Trends
    • Hardware
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Software & Services
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
  5. Global Artificial Intelligence In Healthcare Market, By Technology, 2017–2025 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, 2017–2025
      • Segment Trends
    • Speech Recognition
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Querying Method
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Natural Language Processing
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Machine Learning
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Context Aware Processing
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
  6. Global Artificial Intelligence In Healthcare Market, By Application, 2017–2025 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, 2017–2025
      • Segment Trends
    • Imaging & Diagnostics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Drug Discovery
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Lifestyle Management & Monitoring
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Emergency Room & Hospital Management
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Insights & Risk Analytics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Wearables
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Virtual Assistants
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
  7. Global Artificial Intelligence In Healthcare Market, By End User, 2017–2025 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, 2017–2025
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Pharmaceutical Organizations
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Diagnostic Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
    • Clinics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017–2025, (US$ Mn)
  8. Global Artificial Intelligence In Healthcare Market, By Regions, 2017–2025 (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2016 and 2025 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2025
    • North America
      • Market Size and Forecast, By Solution, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Technology, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Application, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By End User, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Country, 2017–2025 (US$ Mn)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Solution, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Technology, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Application, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By End User, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Country, 2017–2025 (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Solution, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Technology, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Application, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By End User, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Country, 2017–2025 (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of APAC
    • Latin America
      • Market Size and Forecast, By Solution, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Technology, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Application, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By End User, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Country, 2017–2025 (US$ Mn)
        • Brazil
        • Mexico
        • Rest of Latin America
    • Africa
      • Market Size and Forecast, By Solution, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Technology, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Application, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By End User, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Country, 2017–2025 (US$ Mn)
        • Central Africa
        • South Africa
        • North Africa
    • Middle East
      • Market Size and Forecast, By Solution, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Technology, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Application, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By End User, 2017–2025 (US$ Mn)
      • Market Size and Forecast, By Country, 2017–2025 (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
  9. Competitive Landscape
    • Heat Map Analysis
    • Company Profiles
      • IBM Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Google, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • NVIDIA Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Microsoft Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • iCarbonX
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Next IT Corp.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • CloudMex Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Atomwise Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Zephyr Health Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Medtronic Plc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Koninkiljke Philips N.V.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Oncora Medical, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  10. Section
    • Research Methodology
    • About us and Sales Contact

*Browse 34 market data tables and 43 figures on "Artificial Intelligence in Healthcare Market - Global forecast to 2025”.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
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  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
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