Market Insights

Our Methodology

Our international team of analysts in the Statista Market Insights creates expert data to provide valuable insights into 1000+ different markets in 190+ geographies.

Each market is covered with in-depth industry expertise, data Science-based approaches, an international mindset, and a love for quality, and methodological robustness.

We run through six steps of data creation that follow a quality-focused methodology approach: Sourcing, Processing, Modelling, Forecasting, Quality Control, Updating.

Market Insights Methodology Document

Market Insights: Market forecast and Statistics

  • We use secondary data sources: we vet all sources for quality and prefer well-established ones, e.g., statistical offices, industry & trade associations, public institutions, specialized private research companies, financial & company data.
  • We use primary data sources: Statista Consumer Insights conducts primary research in up to 55 countries and with up to 60,000 respondents per country on current and relevant consumer behavior, trends, and branding questions.
  • We use freely available data, purchased data, as well as the data of exclusive partners whom we cooperate with.
  • We may vary the scope and depth of our market data depending on the availability of high-quality input data to ensure quality standard.
  • Any data retrieved is quality checked, cleaned, and standardized.
  • We remove any inexplicable outliers, fill data gaps, complete time series, adjust for inconsistencies, etc.
  • We do so, by applying multi-source merging techniques, triangulation of multiple sources, driver-based gap-filling, interpolation, and manual research
  • We harmonize data structures as a basis for high-quality modeling and forecasting.
  • We build proprietary data models for each market individually, which allows us to capture all market-specific dynamics present.
  • All models follow standardized top-down or bottom-up modelling approaches with best-in-class modeling logic and structure.
  • Each model covers our full geographical scope, meaning all countries are modeled using the same logic and are therefore comparable.
  • All models leverage Data Science, Machine Learning, and increasing extent Artificial Intelligence technologies to scale.
  • All markets have a five-year forecasting time horizon.
  • Forecasts are conducted using well-established scientific forecasting methods including but not limited to Auto-Regressive Integrated Moving Average (ARIMA), S-Curve (Bass Diffusion model), Exponential trend smoothing (ETS).
  • The selection, combination, and further development of forecasting methods based on industry expertise is unique to every market and conducted by the respective market analyst.
  • Current or historical data is updated if new insights become apparent and reflect, similarly to forecasts, modeled data, which approximates but does not reflect reality (which is true for all comparable data sources).
<b>Quality Control</b>
Quality Control
  • We ensure data accuracy primarily by vetting input sources and conducting frequent updates based on novel events or customer feedback.
  • We ensure data completeness by constantly adding new KPIs and content to our hierarchical market structures, and covering sufficient geographies to represent +99% of the global GDP.
  • We ensure data consistency by working with standardized tools, methods and approaches, leveraging Data Science, Machine Learning, and AI technologies and harmonizing data structures in well-maintained data warehouses.
  • We ensure data validity by creating and vetting our market models exhaustively as well as by interacting with our multiple hundred thousand of customers who view, check, question, and validate our data every month.
  • We update our data at least twice a year, given novel events such as COVID-19 or the Russia-Ukraine war, even more frequently.
  • With every update we check for new sources, new developments in the market and their implications on all KPIs provided for the respective market.
  • At the same time, we realize any customer feedback, quality improvement measures we have collected since the previous update.
  • Usually, we also add new content with updates, as we get to know the markets better, understand our customer needs better and increase content relevance continuously.



  • How are the markets defined?
    All markets are defined at the beginning of the relevant content page. There is a brief introduction, which informs you about what products, services, and/or categories are included in our market scope and what is out of scope.
  • How are the regions defined? Which countries are included? And can I create my own regions?
    Our market data is available for 190+ countries and regions. In the navigation tool for selecting a country or region, you will find an info button next to each region which lists the countries that are included. By clicking on “Create a new region” in this navigation window, you will be able to create your own region.
  • How often is the data updated?

    The market data is updated twice a year. In some cases, however, the data for individual markets is updated on an ad hoc basis (e.g., when new, relevant data has been released).

    A time stamp at the bottom of each diagram shows the latest available update.

    Update cycles vary from market to market according to data availability.

  • How are key performance indicators (KPIs), such as revenue per capita or sales channels, calculated?
    The calculation of our KPIs may vary from market to market. On the right-hand side of each diagram, you will find an info button that explains how the data shown was calculated.

Data & methodology

  • What is the difference between a top-down and a bottom-up model? And how do I know which approach has been used for a particular market?

    Market sizes are determined using a bottom-up or a top-down approach or a combination of the two. A top-down approach starts with the overall market, which is then broken down into smaller parts (e.g., the Food market is divided into the Meat, Fish & Seafood, and Vegetables markets, among others).

    A bottom-up approach, meanwhile, starts with individual submarkets (e.g., Home Entertainment and Energy Management, which are part of the Smart Home market), which are then aggregated to arrive at a total market size.

    More details and information on the individual modeling approaches can be found in the methodology box on the content page of the respective market.

  • Which part of the data has been forecasted, i.e., in which year does the forecast begin?

    Typically, the forecast starts in the current year because input data is either only partially available for the current year or only available for the previous year (unless it has been forecasted itself).

    As the underlying sources differ from market to market, the starting point of the relevant forecast may also be somewhat different.

  • How is the data forecasted, and which sources have been used?

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function is well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

    For markets with projected steady growth, we use exponential trend smoothing to illustrate the continuous market development. The parameters are adjusted individually depending on the market-country/territory combination.

    These are just some examples, however; more details and information on the main sources can be found in the methodology box on the content page of the respective market.

  • Why has data for past years changed?

    Approaches, assumptions, input data, and scope are improved from update to update. Therefore, data from previous updates might not necessarily be comparable with current data.

    In addition to that, our own primary research is expanding, and we are replacing third-party data sources with data from the Statista Consumer Insights, which can lead to significant changes in our markets.

  • How can the differences with competitor data (shown in the Comparable Estimates box) be explained?

    Market sizes depend strongly on the scope of the market, e.g., which products and services are included or excluded or whether B2G spending is considered. As a consequence, the numbers of our competitors may vary.

    In the Comparable Estimates box, we display our data next to competitor data. The info button on the right shows the differences in market scopes.

  • What currency rates are used for the forecasts?

    We use the average exchange rate of each year to convert from one currency to another. The exact rates used can be checked in the “Key Market Indicators” box below each market. The source of the historical data is Statista, based on the IMF and other sources.

  • Has the monetary data been adjusted for inflation?

    Statista Market Insight data is presented in current, or nominal, prices, which means it is not adjusted for inflation (unless explicitly stated otherwise).

Market-specific questions

  • How is “price per unit” calculated?

    The average prices are calculated differently depending on the market. This is because different factors are considered for each market. In the food and beverage markets, for example, at-home and out-of-home consumption play a major role.

    The price per unit always refers to the specified unit of volume sales. If the volume sales are specified in kilograms, for example, then the price per unit is the price per kilogram.

    The average price per unit on the platform is calculated, among other things, by dividing the revenue by volume sales. It should be noted, however, that other factors also play a role.

  • How is the split between at-home and out-of-home markets calculated?

    The at-home market, also called the off-trade market, covers all retail sales via super- and hypermarkets, convenience stores, or similar sales channels.

    The out-of-home market, also called the on-trade market, the away-from-home market, or HORECA, encompasses all sales to hotels, restaurants, catering businesses, cafés, bars, and similar hospitality service establishments.

    Both the at-home and the out-of-home market are valued at retail selling prices, including all sales and consumption taxes.

  • How is luxury/prestige defined? What brands do you define as luxury ones?

    The data in the Luxury market is based on an analysis of a vast amount of financial data of the key companies in that industry. We look at the financial filings of companies that sell personal luxury goods; therefore, we do not have any particular information on price-points but define luxury by brand.

    An overview of the modeling structure and the companies and brands included can be found in our methodology document.

  • How specific are the indicators that you use to generate individual industries, e.g., in the case of food types?

    Our forecasts are based on a wide range of official statistics and secondary data sources, including national and international governmental institutions, trade associations, and the trade press.

    Core sources are statistics on agricultural and industrial production and on international trade as well as household budget surveys that track the consumption of representative samples of a population over a certain period of time.

  • What sources are used for the App market, and how are different kinds of apps assigned to their respective market?

    The App market comprises the sale of software applications that can be downloaded, installed, and run on mobile devices. More specifically, it refers to apps that can be downloaded from Apple, Inc.’s App Store and the Google Play store (or, in the case of China, from stores such as Huawei AppGallery and Tencent Appstore).

    We track 20 non-game categories and 15 game categories that are found in both Apple Inc.'s App Store and the Google Play store. We also consider revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app, paid app revenue from the one-time purchase of an app, and advertising revenue obtained from showing ads within an app.

    We use several data sources and data partners for our app information, supplementing their data (which usually does not cover all apps in a country) using an algorithmic process that accounts for any apps that they may have missed because of the fast-changing nature of this industry.

  • Why is the eCommerce market bigger than the corresponding market in the Market Insights’ Consumer topic?

    The online revenues of the markets that are part of the Consumer topic in our Market Insights do not entirely match those of the corresponding eCommerce market due to different scopes.

    In the eCommerce markets, we cover a broader range of products than in the markets of our Consumer topic, and this results in a larger market size of the former (total retail). These products can be found in the “Other” category in each eCommerce market.

  • What does the online/offline split in the eCommerce market represent?

    The online/offline split in the Sales Channels box shows the share of online retail versus offline retail. The total of 100% corresponds to the market size of the relevant market in the Consumer Market Insights, which covers both online and offline sales.

    The online share, meanwhile, represents the corresponding eCommerce market. The remaining share refers solely to offline sales.

  • Why do the total user numbers in the Digital Media – Video-on-Demand market not match the aggregated market user numbers?

    The total number of users in a market such as the Video-on-Demand market is not merely the sum of all the markets that are included in our definition, i.e., the Video Streaming (SVoD), Pay-per-View (TVoD), Video Downloads (EST), and Advertising Video-on-Demand (AVoD) markets.

    Since consumers can be users of all these markets, they are counted only once. We calculate the total Video-on-Demand users using an aggregation share for each of these markets.

  • How are passenger cars assigned to their respective markets?

    The process involves collecting and processing information on each car model sold. Our classification is based on model properties such as mass and dimensions as well as international classifications. These factors are combined to create a comprehensive hierarchical ordering of sales information.

    To give you a better understanding of the classification process, we would like to provide you with an overview of the different car markets in the Statista classification, which are based on the classifications used in the U.S., Europe, and China. Our classification divides passenger cars into 11 different categories based on their size, type, and purpose. Here are the categories and some model examples for each:

    1. Mini Cars: the smallest cars available, also known as city cars or microcars; examples include the Fiat 500, Hyundai i10, and Peugeot 107.
    2. Small Cars: slightly larger than mini cars and also known as light cars or superminis; examples include the Citroën C3, Ford Fiesta, and Volkswagen Polo.
    3. Medium Cars: compact cars, often referred to as small family cars; examples include the BMW 1 Series, SEAT León, and Volkswagen Golf.
    4. Large Cars: larger than medium cars and often referred to as large family cars, compact executive cars, entry-level luxury cars, or intermediate cars; examples include the Honda Accord, Peugeot 407, and ŠKODA Superb.
    5. Executive Cars: even larger than large cars and often referred to as full-size cars or mid-size luxury cars; examples include the Audi A6, Jaguar XF, and Mercedes-Benz E-Class.
    6. Luxury Cars: the most expensive and exclusive cars available, often referred to as full-size luxury cars or high-end luxury cars; examples include the Audi A8, Jaguar XJ, and Mercedes-Benz S-Class.
    7. Sports Cars: two-seaters designed for performance and speed; examples include the Aston Martin DB9, Jaguar XK, and Mercedes-Benz CLK.
    8. Minivans: multi-purpose vehicles designed for families and the transportation of people; examples include the Citroën C3 Picasso, Mazda 5, and Toyota Verso.
    9. SUVs: sport utility vehicles designed for off-road use and larger than minivans; examples include the BMW X5, Kia Sorento, and Land Rover Discovery.
    10. Pickup Trucks: vehicles designed for carrying cargo, often with an open bed at the rear; examples include the Chevrolet Silverado, Ford F-Series, and Nissan Frontier.
    11. Full-Size Vans: vehicles designed for carrying passengers or cargo, often with a high roof and a boxy shape; examples include the Chevrolet Express, Ford Transit, and Mercedes-Benz Sprinter.
  • What methodology is used for the Shared Mobility and Travel & Tourism markets?

    Our comprehensive market information is based on extensive research and a combination of various market-relevant sources. This includes, for both the Shared Mobility and the Travel & Tourism market, our primary research (e.g., Statista Consumer Insights), market data from independent databases and third-party sources, and our market expertise.

    Market sizes are determined through a bottom-up approach, considering demand-side and performance factors as well as market-specific details, such as product prices, purchase frequency, and customer churn rates. In addition, we use country-specific data, including demographics, GDP, consumer spending, internet penetration, and device usage, to estimate the market size for each country individually.

  • Is there a difference between the advertising numbers in the Digital Advertising market and the Advertising market?

    Yes, there is a difference between the advertising numbers in the Advertising and Digital Advertising markets. The Advertising market includes both traditional and digital advertising, whereas the Digital Advertising market covers only the digital aspect of advertising. More specifically, our current traditional advertising numbers include TV, radio, out-of-home, and print ads, whereas our digital advertising numbers encompass video, audio, banner, search, social media, influencer, and in-app ads as well as classifieds.

    Since the Advertising market combines both traditional and digital advertising channels, the numbers for the Advertising market will always be higher than those for the Digital Advertising market.

  • Do the technology markets include B2B, B2C, and B2G figures?

    In general, all technology markets include B2B (business-to-business), B2C (business-to-consumer), and B2G (business-to-government) spending. More details and information on the individual modeling approaches and potential exceptions can be found in the methodology box on the content page of the respective market.

  • Why are some countries not shown in the Cannabis market?

    We show all the countries where these products have been legalized. The geographical scope varies depending on the exact cannabis product, as not all types of cannabis have been legalized in each country. In Germany, for example, the medical and therapeutic use of cannabis is legal, whereas its recreational use is not.

  • Is the interbank market included in the data of the Retail & Commercial Banking market?

    The Retail & Commercial Banking market in the Financial Market Insights provides data about the topics of traditional banking and neobanking, including the B2C and B2B business. The interbank market and government banking are out of scope.

  • What financial services are included in the revenue numbers in the Financial Advisory market?

    The financial services taken into account are full-service products offered by financial institutions that relate to insurance, investing, lending, and trading.

  • Why are there zero values for some years in the Nuclear Power market in the Industrial topic?

    This could indicate that the country either plans to phase out nuclear power or has not yet begun using it.

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