Market Sizing is simply the process of estimating the value or volume of a certain market or segment.
• What is the total size (or potential size) of a market / segment?
• What products / services are available in the market / segment?
• Who are the major competitors in a market / segment?
• What is the composition and profile of the target customers?
• What is the most significant trend in the market or the segment?
Understanding the potential of a market or a specific segment within a bigger market is crucial for companies looking to launch new products or services or evaluating the potential of an existing product or service under changing market conditions.