Market Size refers to how big a market is in terms of revenue, sales, or the number of users/customers at a particular point in time.

Minimum Requirements- Precompiled Market Sizes

• Provide 1 market/industry per market size
  • Provide a brief description of the market
  • Provide the market size
  • If available
    • explain if the market has increased or decreased over time
    • provide a breakdown of the different segments in the market (if precompiled)
  • Use more than one source to corroborate the market size/TAM (unless the market is niche or triangulations were performed).
  • Provide a minimum of one image per 3-hour request. If possible, add an image for each concept discussed.

OR

• If the client has asked for multiple pre-compiled market sizes
  • Provide up to 3-5 precompiled market sizes along with a very brief description of the market.
  • Use more than one source to corroborate the market size/TAM (unless the market is niche or triangulations were performed).
  • Provide a minimum of one image per 3-hour request. If possible, add an image for each concept discussed.

Minimum Requirements- Triangulated Market Sizes

• When triangulations are required, provide one market size per 3-hour request.
• Make sure to explain the triangulation process to the client in the Research Strategy.
• Provide a minimum of one image per 3-hour request. If possible, add an image for each concept discussed.

Market Size refers to how big a market is in terms of revenue, sales, or the number of users/customers at a particular point in time.

Market size is sometimes referred to as TAM i.e., total addressable market or total available market. Other frequently associated terms with market size are SAM (Serviceable Available Market) and SOM (Serviceable Obtainable Market). TAM, SAM, and SOM are three different forms of market size.

TAM represents the total revenue opportunity for a product or service in a market. SAM and SOM focus on a smaller portion of the overall market size/TAM and thus, are comparatively hard to find or calculate. TAM is the most common form of market sizing projects at Wonder, which is why we’ll keep this guide focused on TAM. If you are curious, you can learn about SAM and SOM, and how to calculate them [here](https://www.toptal.com/finance/market-sizing/total-addressable-market-example#:~:text=Total addressable market (TAM%2C occasionally,from its product or service.) and here.

Identifying Precompiled Market Size

• Always start with a direct search using keywords and search strings, e.g., “US athletic shoes market size 2022”.

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  • Keywords
    • Here’s a list of keywords to refine your search: Market size, market estimate, market analysis, market forecast, target market, market segmentation, existing market, census data, annual market revenue, annual market sales, annual profits, sales, potential growth, CAGR, market growth, TAM, total addressable market, total available market, etc.

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• 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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