Research Methodology on Hardware Wallet Market
The research methodology followed by Market Research Future (MRFR) consists of systematic, data-driven, and realistic research and analysis processes. Research processes involve a broad range of primary and secondary sources and expert opinions. Some of the sources that have been thoroughly inspected include press releases, recent technical papers, surveys, white papers, statistical databases, financial annual reports, and industry-specific materials. The information gathered is filtered and polished to ensure that only the most relevant and reliable data appears in the report.
Research Design
The research design process deployed by MRFR while delivering this report on the global Hardware Wallet Market is descriptive and systematic. The process includes analyzing the required data from internal and external sources, simplifying them, and archiving them for future reference.
Data Sources
This research study utilizes primary and secondary data sources to obtain key facts, gathers and consolidates the data and compares it to existing databases of MRFR. Furthermore, the survey used a combination of primary and secondary data sources. The primary data sources include interviews with top-level executives and opinions from seasoned analysts across the value chain, who identify and provide crucial information on various determinants. On the other hand, the secondary data sources include but are not limited to, Factiva, Hoovers, OneSource, and official government documents.
Data Triangulation
In the Hardware Wallet Market research report, MRFR project managers and research analysts used a combination of primary and secondary research to collect and then validate the data for this extensive market study. The data triangulation method is used for providing a holistic view of the market by dividing the data into three key elements such as:
Primary Research
Primary research data strategy involves surveys, telephonic interviews, and face-to-face interviews and exchanging views and thought processes. The primary research data is used to validate the secondary data and also to gain a clear view of the market landscape and process.
Secondary Research
The secondary research data strategy involves studying the existing trade publications, market reports, and something like published material and websites. The secondary research data is used to gain a deeper insight into the market to understand the trends, pricing, and key developments in the Hardware Wallet Market.
Market Size Estimation
The market size estimation is done through the triangulated method. The market estimations are done using both top-down and bottom-up approaches. The top-down approach begins with summing up the revenues generated by all the companies and then extrapolating the market size from that. Whereas, the bottom-up approach involves adding up the revenues generated from each application segment of the market to estimate the total market size.
Data Interpretation and Analysis
MRFR researchers and analysts used both quantitative and qualitative methods for data interpretation and analysis. MRFR used a multiple-step-wise approach, which includes data collection, data analysis, and triangulation for a thorough understanding of the Hardware Wallet Market. To further strengthen the analysis and decision-making capabilities of the report, MRFR also includes Porter’s Five Forces Analysis.
Process
MRFR follows a five-step process to deliver a comprehensive report on the global Hardware Wallet Market. These steps include:
Step 1: Research aim, objective, and definition
Step 2: Research design including:
- Primary and secondary sources of data collection
- Survey design & conduction
- Data interpretation
- Data analysis
Step 3: Data triangulation and market size estimation
Step 4: Assumptions and data filtration
Step 5: Final data alignment and analysis
