Incremental sheet forming (ISF) is a cost effective die-less forming process for low volume production. Achieving good accuracy using this process is a challenging task. Bending between clamped boundary and component opening, tool deflection, sheet spring-back and rigid body displacements are the major reasons for geometric inaccuracy in components formed using ISF process. In order to achieve desirable geometric accuracy, accurate prediction of sheet thickness, tool-sheet contact area and forming forces is important. In this article, modified analytical model is presented to accurately predict formed component thickness, contact area and forming forces during single and multi-stage incremental forming. Predictions of models presented in this work are compared with experimental work carried out during this work as well as experimental results available in the literature and they are in good agreement. Prediction models developed during the present work require very less computational resources compared to finite element analysis.