Market growth is how quickly or slowly a market’s total revenue is growing over time. Market growth is usually expressed as the Compound Annual Growth Rate or CAGR.

CAGR is a quantitative data point that is expressed as a percentage and properly labeled (e.g. 3.6% CAGR, 17% CAGR, etc.)

Minimum Requirements- If Information is Precompiled

• If the information is precompiled, we can not just provide the market growth/CAGR. We must ensure the client gets the full value for their research dollars. You have the option of providing one or more of the following:
  • Market size
  • Drivers or detractors in the market
  • Explaining if the CAGR has increased or decreased over time and why
  • Providing a breakdown of the CAGR for different segments of the market (if available precompiled)
  • Comparing the CAGR with similar markets.
• Corroborate your results with multiple sources.
• Provide a minimum of one image per 3-hour request. If possible, add an image for each concept discussed.

Minimum Requirements- If Triangulation is Required

• If triangulation is needed, you will not need to provide additional other than to fully explain the triangulation for the market.
• If time allows, consider adding one of the options above for extra value.
• Provide a minimum of one image per 3-hour request. If possible, add an image for each concept discussed.

Identifying Precompiled Market Growth

• Always start with a direct search using keywords and search strings. “US athletic shoes market growth 2022”.

• Specify the geographical region and year to pull the right information.

• If you cannot find information through a general search, use more specific search strings, Boolean, and X-ray searches, as well as filters to pull relevant results.

  <aside> 🧠 Note: Search strings and advanced search methods e.g., X-ray and Boolean search are tools, not strategies. Do not mention these in your research reports. Instead, mention the publishers of the resources, reports, and databases consulted (e.g., International Data Group (IDG)).

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• Use market research and business databases such as IBISWorld and ReportLinker to find market research reports on your topic. MIT Libraries and UBC Library provide a comprehensive list of industry-specific market research databases.

• If possible, corroborate with multiple sources. If you can only find one source of the information, briefly explain to the client in the Research Strategy that there was the only one available.

• If you can easily find the market growth precompiled, corroborate it with another credible and reliable industry source and provide additional value.

  • Some suggestions for additional value include explaining if the CAGR has increased or decreased over time and why, providing a breakdown of the CAGR for different segments of the market (if available precompiled), and comparing the CAGR with similar markets.