Key Insights
The global neobanking market is experiencing explosive growth, fueled by a confluence of factors. A 24.60% CAGR from 2019-2033 suggests a significant expansion, likely driven by increasing smartphone penetration, growing demand for convenient and accessible financial services, and a younger generation's preference for digital-first solutions. The market's success hinges on neobanks' ability to offer superior user experiences, personalized financial management tools, and competitive pricing structures. Key players like Monzo, Chime, Starling Bank, Revolut, and Nubank are leading this charge, continuously innovating to capture market share and attract new customers. The market segmentation likely includes features such as business versus personal banking, different levels of service and pricing tiers, and geographic variations in offerings to cater to the specific needs of different demographics and regulatory environments. While regulatory hurdles and security concerns represent potential restraints, the overall market trajectory points toward sustained, rapid growth.
Global Neobanking Market Market Size (In Billion)
The forecast period (2025-2033) will witness further consolidation and potential mergers and acquisitions as neobanks seek scale and expand their geographical footprint. Technological advancements in areas such as artificial intelligence (AI) and blockchain technology will likely transform the market, paving the way for hyper-personalized services and enhanced security measures. The competitive landscape will remain intensely dynamic, with both established players and new entrants vying for market leadership. Successfully navigating this environment will require a focus on building robust technology platforms, leveraging data analytics effectively, and maintaining impeccable customer service. Regional variations in market penetration will likely persist, influenced by factors such as existing financial infrastructure and consumer adoption rates of digital technologies. The continued success of neobanks will be contingent on adapting to evolving consumer preferences and staying ahead of the innovation curve.
Global Neobanking Market Company Market Share
Global Neobanking Market Report: 2019-2033
This comprehensive report provides an in-depth analysis of the global neobanking market, encompassing market dynamics, growth trends, regional segmentation, product landscape, key players, and future outlook. The study period spans from 2019 to 2033, with a base year of 2025 and a forecast period of 2025-2033. The report leverages extensive data analysis to offer actionable insights for industry professionals, investors, and stakeholders. The market is segmented by various factors, offering granular insights into specific niches within the broader neobanking landscape. Key players analyzed include Monzo Bank Ltd, Chime Financial Inc, Starling Banks, MoneyLion, Sofi, N26, Judo Bank, Tinkoff Bank, Nubank, and Revolut (list not exhaustive). The market is valued at xx Million in 2025 and projected to reach xx Million by 2033.
Global Neobanking Market Dynamics & Structure
The global neobanking market is characterized by a dynamic interplay of factors influencing its structure and growth trajectory. Market concentration is relatively high, with several major players controlling significant market share. However, the market also displays a high level of fragmentation, particularly in emerging markets, due to the relatively low barrier to entry for new players. Technological innovation acts as a crucial driver, with continuous advancements in mobile banking, AI-powered financial tools, and open banking APIs shaping the market landscape. Regulatory frameworks, varying across different jurisdictions, create both opportunities and challenges for neobanks. Competitive product substitutes, including traditional banks offering digital services, pose a challenge. End-user demographics reveal a strong preference for neobanks among millennials and Gen Z due to their user-friendly interfaces and personalized financial solutions. M&A activity within the neobanking sector has been significant, with a xx Million deal volume recorded in 2024, indicating consolidation and expansion strategies among key players.
- Market Concentration: Moderately concentrated, with top 5 players holding xx% market share in 2024.
- Technological Innovation: AI, machine learning, and open banking are key drivers of innovation.
- Regulatory Framework: Differing regulations across regions create both opportunities and challenges.
- Competitive Substitutes: Traditional banks offering digital solutions pose a competitive threat.
- End-User Demographics: Millennials and Gen Z are the primary adopters of neobanking services.
- M&A Trends: High M&A activity, with xx deals recorded in 2024 totaling xx Million.
Global Neobanking Market Growth Trends & Insights
The global neobanking market experienced substantial growth during the historical period (2019-2024), with a CAGR of xx%. This growth is driven by increasing smartphone penetration, rising digital literacy, and growing demand for convenient and personalized financial services. The market is expected to maintain a strong growth trajectory during the forecast period (2025-2033), with a projected CAGR of xx%, reaching a market size of xx Million by 2033. Technological disruptions, such as the adoption of blockchain technology and embedded finance, are further accelerating market growth. Consumer behavior shifts, favoring digital-first banking experiences, significantly contribute to the market's expansion. Market penetration rates are expected to increase significantly, reaching xx% by 2033. The adoption of neobanking services across various demographic segments continues to rise steadily, driven by factors including superior user experiences, cost-effectiveness, and accessible financial inclusion.
Dominant Regions, Countries, or Segments in Global Neobanking Market
North America currently dominates the global neobanking market, holding the largest market share (xx%) in 2024, driven by high digital adoption rates, robust technological infrastructure, and a strong entrepreneurial ecosystem. Europe and Asia-Pacific are also witnessing significant growth, fueled by increasing mobile banking adoption and supportive regulatory frameworks in certain regions. Within North America, the United States holds the largest share, while the UK is a leading market in Europe. Specific regional dominance is further segmented by factors such as regulatory environments, technological infrastructure, and consumer preferences.
- North America: High digital adoption, robust tech infrastructure, and strong entrepreneurial ecosystem.
- Europe: Increasing mobile banking adoption and supportive regulatory frameworks in some countries.
- Asia-Pacific: High growth potential due to increasing smartphone penetration and expanding digital economy.
Global Neobanking Market Product Landscape
Neobanks offer a range of products, including current accounts, savings accounts, debit cards, personal loans, and investment services. Key product innovations include AI-powered financial management tools, personalized financial advice, and seamless integration with other financial services. These features often leverage advanced technologies such as machine learning and data analytics to enhance user experience and improve financial outcomes. The focus is on unique selling propositions such as superior user interface, personalized financial management, and enhanced customer service.
Key Drivers, Barriers & Challenges in Global Neobanking Market
Key Drivers:
- Rising smartphone penetration and internet access.
- Growing preference for digital-first banking experiences.
- Technological advancements in mobile banking and AI.
- Government initiatives promoting financial inclusion.
Key Challenges:
- Stringent regulatory compliance requirements.
- Concerns about data security and privacy.
- Competition from established banks offering digital services.
- Maintaining profitability while offering low fees and free services.
Emerging Opportunities in Global Neobanking Market
- Untapped markets in developing economies.
- Expansion into niche financial products and services.
- Integration with emerging technologies like blockchain and DeFi.
- Personalized financial advice powered by AI and machine learning.
Growth Accelerators in the Global Neobanking Market Industry
Technological advancements, strategic partnerships with fintech companies, and expanding into underserved markets are key growth catalysts. The integration of AI and machine learning for enhanced personalization and risk management will further fuel market expansion. Strategic collaborations with established financial institutions can provide neobanks with access to wider customer bases and greater resources.
Key Players Shaping the Global Neobanking Market Market
Notable Milestones in Global Neobanking Market Sector
- October 2022: Kitzone Neo Bank in India introduces the first assured cashback debit cards, along with mini ATMs and POS terminals.
- September 2022: N26 becomes the first neobank to integrate with Bizum in Spain, enabling peer-to-peer payments and payments at affiliated retailers.
In-Depth Global Neobanking Market Market Outlook
The future of the global neobanking market appears bright, with continued growth driven by technological advancements, expanding customer bases, and strategic partnerships. Neobanks are poised to play an increasingly important role in the financial landscape, offering innovative solutions and personalized experiences to customers globally. Strategic opportunities lie in expanding into emerging markets, developing niche financial products, and leveraging advanced technologies to enhance customer service and financial management tools. The market is expected to witness further consolidation through mergers and acquisitions, creating even larger and more influential players.
Global Neobanking Market Segmentation
-
1. Account Type
- 1.1. Bussiness Account
- 1.2. Savings Account
-
2. Services
- 2.1. Mobile- Banking
- 2.2. Payments
- 2.3. Money- Transfers
- 2.4. Savings Account
- 2.5. Loans
- 2.6. Others
-
3. Application
- 3.1. Personal
- 3.2. Enterprise
- 3.3. Other Application
Global Neobanking Market Segmentation By Geography
- 1. North America
- 2. Europe
- 3. Asia Pacific
- 4. Middle East
- 5. South America
Global Neobanking Market Regional Market Share
Geographic Coverage of Global Neobanking Market
Global Neobanking Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 24.60% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.3. Market Restrains
- 3.4. Market Trends
- 3.4.1. Increase in Digitalization of Banking Activities
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Global Neobanking Market Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Account Type
- 5.1.1. Bussiness Account
- 5.1.2. Savings Account
- 5.2. Market Analysis, Insights and Forecast - by Services
- 5.2.1. Mobile- Banking
- 5.2.2. Payments
- 5.2.3. Money- Transfers
- 5.2.4. Savings Account
- 5.2.5. Loans
- 5.2.6. Others
- 5.3. Market Analysis, Insights and Forecast - by Application
- 5.3.1. Personal
- 5.3.2. Enterprise
- 5.3.3. Other Application
- 5.4. Market Analysis, Insights and Forecast - by Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Middle East
- 5.4.5. South America
- 5.1. Market Analysis, Insights and Forecast - by Account Type
- 6. North America Global Neobanking Market Analysis, Insights and Forecast, 2020-2032
- 6.1. Market Analysis, Insights and Forecast - by Account Type
- 6.1.1. Bussiness Account
- 6.1.2. Savings Account
- 6.2. Market Analysis, Insights and Forecast - by Services
- 6.2.1. Mobile- Banking
- 6.2.2. Payments
- 6.2.3. Money- Transfers
- 6.2.4. Savings Account
- 6.2.5. Loans
- 6.2.6. Others
- 6.3. Market Analysis, Insights and Forecast - by Application
- 6.3.1. Personal
- 6.3.2. Enterprise
- 6.3.3. Other Application
- 6.1. Market Analysis, Insights and Forecast - by Account Type
- 7. Europe Global Neobanking Market Analysis, Insights and Forecast, 2020-2032
- 7.1. Market Analysis, Insights and Forecast - by Account Type
- 7.1.1. Bussiness Account
- 7.1.2. Savings Account
- 7.2. Market Analysis, Insights and Forecast - by Services
- 7.2.1. Mobile- Banking
- 7.2.2. Payments
- 7.2.3. Money- Transfers
- 7.2.4. Savings Account
- 7.2.5. Loans
- 7.2.6. Others
- 7.3. Market Analysis, Insights and Forecast - by Application
- 7.3.1. Personal
- 7.3.2. Enterprise
- 7.3.3. Other Application
- 7.1. Market Analysis, Insights and Forecast - by Account Type
- 8. Asia Pacific Global Neobanking Market Analysis, Insights and Forecast, 2020-2032
- 8.1. Market Analysis, Insights and Forecast - by Account Type
- 8.1.1. Bussiness Account
- 8.1.2. Savings Account
- 8.2. Market Analysis, Insights and Forecast - by Services
- 8.2.1. Mobile- Banking
- 8.2.2. Payments
- 8.2.3. Money- Transfers
- 8.2.4. Savings Account
- 8.2.5. Loans
- 8.2.6. Others
- 8.3. Market Analysis, Insights and Forecast - by Application
- 8.3.1. Personal
- 8.3.2. Enterprise
- 8.3.3. Other Application
- 8.1. Market Analysis, Insights and Forecast - by Account Type
- 9. Middle East Global Neobanking Market Analysis, Insights and Forecast, 2020-2032
- 9.1. Market Analysis, Insights and Forecast - by Account Type
- 9.1.1. Bussiness Account
- 9.1.2. Savings Account
- 9.2. Market Analysis, Insights and Forecast - by Services
- 9.2.1. Mobile- Banking
- 9.2.2. Payments
- 9.2.3. Money- Transfers
- 9.2.4. Savings Account
- 9.2.5. Loans
- 9.2.6. Others
- 9.3. Market Analysis, Insights and Forecast - by Application
- 9.3.1. Personal
- 9.3.2. Enterprise
- 9.3.3. Other Application
- 9.1. Market Analysis, Insights and Forecast - by Account Type
- 10. South America Global Neobanking Market Analysis, Insights and Forecast, 2020-2032
- 10.1. Market Analysis, Insights and Forecast - by Account Type
- 10.1.1. Bussiness Account
- 10.1.2. Savings Account
- 10.2. Market Analysis, Insights and Forecast - by Services
- 10.2.1. Mobile- Banking
- 10.2.2. Payments
- 10.2.3. Money- Transfers
- 10.2.4. Savings Account
- 10.2.5. Loans
- 10.2.6. Others
- 10.3. Market Analysis, Insights and Forecast - by Application
- 10.3.1. Personal
- 10.3.2. Enterprise
- 10.3.3. Other Application
- 10.1. Market Analysis, Insights and Forecast - by Account Type
- 11. Competitive Analysis
- 11.1. Market Share Analysis 2025
- 11.2. Company Profiles
- 11.2.1 Monzo Bank Ltd
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Chime Financial Inc
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 Starling Banks
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 MoneyLion
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Sofi
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 N
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Judo Bank
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Tinkoff Bank
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 Nubank
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.10 Revolut**List Not Exhaustive
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Financials (Based on Availability)
- 11.2.1 Monzo Bank Ltd
List of Figures
- Figure 1: Global Global Neobanking Market Revenue Breakdown (Million, %) by Region 2025 & 2033
- Figure 2: North America Global Neobanking Market Revenue (Million), by Account Type 2025 & 2033
- Figure 3: North America Global Neobanking Market Revenue Share (%), by Account Type 2025 & 2033
- Figure 4: North America Global Neobanking Market Revenue (Million), by Services 2025 & 2033
- Figure 5: North America Global Neobanking Market Revenue Share (%), by Services 2025 & 2033
- Figure 6: North America Global Neobanking Market Revenue (Million), by Application 2025 & 2033
- Figure 7: North America Global Neobanking Market Revenue Share (%), by Application 2025 & 2033
- Figure 8: North America Global Neobanking Market Revenue (Million), by Country 2025 & 2033
- Figure 9: North America Global Neobanking Market Revenue Share (%), by Country 2025 & 2033
- Figure 10: Europe Global Neobanking Market Revenue (Million), by Account Type 2025 & 2033
- Figure 11: Europe Global Neobanking Market Revenue Share (%), by Account Type 2025 & 2033
- Figure 12: Europe Global Neobanking Market Revenue (Million), by Services 2025 & 2033
- Figure 13: Europe Global Neobanking Market Revenue Share (%), by Services 2025 & 2033
- Figure 14: Europe Global Neobanking Market Revenue (Million), by Application 2025 & 2033
- Figure 15: Europe Global Neobanking Market Revenue Share (%), by Application 2025 & 2033
- Figure 16: Europe Global Neobanking Market Revenue (Million), by Country 2025 & 2033
- Figure 17: Europe Global Neobanking Market Revenue Share (%), by Country 2025 & 2033
- Figure 18: Asia Pacific Global Neobanking Market Revenue (Million), by Account Type 2025 & 2033
- Figure 19: Asia Pacific Global Neobanking Market Revenue Share (%), by Account Type 2025 & 2033
- Figure 20: Asia Pacific Global Neobanking Market Revenue (Million), by Services 2025 & 2033
- Figure 21: Asia Pacific Global Neobanking Market Revenue Share (%), by Services 2025 & 2033
- Figure 22: Asia Pacific Global Neobanking Market Revenue (Million), by Application 2025 & 2033
- Figure 23: Asia Pacific Global Neobanking Market Revenue Share (%), by Application 2025 & 2033
- Figure 24: Asia Pacific Global Neobanking Market Revenue (Million), by Country 2025 & 2033
- Figure 25: Asia Pacific Global Neobanking Market Revenue Share (%), by Country 2025 & 2033
- Figure 26: Middle East Global Neobanking Market Revenue (Million), by Account Type 2025 & 2033
- Figure 27: Middle East Global Neobanking Market Revenue Share (%), by Account Type 2025 & 2033
- Figure 28: Middle East Global Neobanking Market Revenue (Million), by Services 2025 & 2033
- Figure 29: Middle East Global Neobanking Market Revenue Share (%), by Services 2025 & 2033
- Figure 30: Middle East Global Neobanking Market Revenue (Million), by Application 2025 & 2033
- Figure 31: Middle East Global Neobanking Market Revenue Share (%), by Application 2025 & 2033
- Figure 32: Middle East Global Neobanking Market Revenue (Million), by Country 2025 & 2033
- Figure 33: Middle East Global Neobanking Market Revenue Share (%), by Country 2025 & 2033
- Figure 34: South America Global Neobanking Market Revenue (Million), by Account Type 2025 & 2033
- Figure 35: South America Global Neobanking Market Revenue Share (%), by Account Type 2025 & 2033
- Figure 36: South America Global Neobanking Market Revenue (Million), by Services 2025 & 2033
- Figure 37: South America Global Neobanking Market Revenue Share (%), by Services 2025 & 2033
- Figure 38: South America Global Neobanking Market Revenue (Million), by Application 2025 & 2033
- Figure 39: South America Global Neobanking Market Revenue Share (%), by Application 2025 & 2033
- Figure 40: South America Global Neobanking Market Revenue (Million), by Country 2025 & 2033
- Figure 41: South America Global Neobanking Market Revenue Share (%), by Country 2025 & 2033
List of Tables
- Table 1: Global Neobanking Market Revenue Million Forecast, by Account Type 2020 & 2033
- Table 2: Global Neobanking Market Revenue Million Forecast, by Services 2020 & 2033
- Table 3: Global Neobanking Market Revenue Million Forecast, by Application 2020 & 2033
- Table 4: Global Neobanking Market Revenue Million Forecast, by Region 2020 & 2033
- Table 5: Global Neobanking Market Revenue Million Forecast, by Account Type 2020 & 2033
- Table 6: Global Neobanking Market Revenue Million Forecast, by Services 2020 & 2033
- Table 7: Global Neobanking Market Revenue Million Forecast, by Application 2020 & 2033
- Table 8: Global Neobanking Market Revenue Million Forecast, by Country 2020 & 2033
- Table 9: Global Neobanking Market Revenue Million Forecast, by Account Type 2020 & 2033
- Table 10: Global Neobanking Market Revenue Million Forecast, by Services 2020 & 2033
- Table 11: Global Neobanking Market Revenue Million Forecast, by Application 2020 & 2033
- Table 12: Global Neobanking Market Revenue Million Forecast, by Country 2020 & 2033
- Table 13: Global Neobanking Market Revenue Million Forecast, by Account Type 2020 & 2033
- Table 14: Global Neobanking Market Revenue Million Forecast, by Services 2020 & 2033
- Table 15: Global Neobanking Market Revenue Million Forecast, by Application 2020 & 2033
- Table 16: Global Neobanking Market Revenue Million Forecast, by Country 2020 & 2033
- Table 17: Global Neobanking Market Revenue Million Forecast, by Account Type 2020 & 2033
- Table 18: Global Neobanking Market Revenue Million Forecast, by Services 2020 & 2033
- Table 19: Global Neobanking Market Revenue Million Forecast, by Application 2020 & 2033
- Table 20: Global Neobanking Market Revenue Million Forecast, by Country 2020 & 2033
- Table 21: Global Neobanking Market Revenue Million Forecast, by Account Type 2020 & 2033
- Table 22: Global Neobanking Market Revenue Million Forecast, by Services 2020 & 2033
- Table 23: Global Neobanking Market Revenue Million Forecast, by Application 2020 & 2033
- Table 24: Global Neobanking Market Revenue Million Forecast, by Country 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Global Neobanking Market?
The projected CAGR is approximately 24.60%.
2. Which companies are prominent players in the Global Neobanking Market?
Key companies in the market include Monzo Bank Ltd, Chime Financial Inc, Starling Banks, MoneyLion, Sofi, N, Judo Bank, Tinkoff Bank, Nubank, Revolut**List Not Exhaustive.
3. What are the main segments of the Global Neobanking Market?
The market segments include Account Type, Services, Application.
4. Can you provide details about the market size?
The market size is estimated to be USD XX Million as of 2022.
5. What are some drivers contributing to market growth?
N/A
6. What are the notable trends driving market growth?
Increase in Digitalization of Banking Activities.
7. Are there any restraints impacting market growth?
N/A
8. Can you provide examples of recent developments in the market?
In October 2022, India's First Assured Cashback Debit Cards are being introduced by Rajasthan-based Kitzone Neo Bank, which is also providing the Mini ATM and Pos Terminal.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Global Neobanking Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Global Neobanking Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Global Neobanking Market?
To stay informed about further developments, trends, and reports in the Global Neobanking Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence