Airport Facial Recognition Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Biometric technology is a new way of securing facilities with limited human resources and simplifying operations. Thus, this technology is strongly adopted in the aerospace industry to enhance security levels and faster boarding procedures. Facial recognition is among new and emerging technology in airports reducing the average processing time per passenger. The technology is helping airport facilities to minimize the various checkpoint passenger and minimize boarding time by almost 40% to 50% percent. For instance, in 2021, according to Thales Group, more than 15 airports has installed face matching systems for passenger boarding application.
MARKET SCOPE
The "Global Airport Facial Recognition Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Airport facial recognition market with detailed market segmentation by type, airport class, application, and geography. The report provides key statistics on the market status of the leading Airport facial recognition market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the market is segmented as 2D recognition and 3D recognition.
- On the basis of the airport class, the market is segmented into class I, class II, class III, and class IV.
- On the basis of application, the market is segmented into passenger check-in surveillance.
MARKET DYNAMICS
Drivers:
- Growing demand for automated passenger boarding solutions driving the market growth.
- Increasing importance for advanced surveillance systems is bolstering the market growth.
Restraints:
- The privacy concern, ineffectiveness, and threat of cyberattacks is limiting the market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Airport facial recognition market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Airport facial recognition market in these regions
IMPACT OF COVID-19 ON AIRPORT FACIAL RECOGNITION MARKET
The outbreak of the COVID-19 has severely impacted the aviation and travel industries. The busiest airport across the world experienced a significant drop in passenger and cargo traffic. The airport operators faced substantial losses in revenue generation. However, the COVID-19 pandemic had a positive impact on the demand for facial recognition at airports. COVID - 19 pandemic is a driving factor for the market, as airports opted for more digital solutions to maintain social distancing and continue the airport operations. Rising demand for high-end security solutions has augmented the adoption of the face recognition system. Facial recognition has changed the way of operations at airports to meet COVID - 19 regulatory requirements with enhanced safety solutions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Airport facial recognition market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Airport facial recognition market in these regions
IMPACT OF COVID-19 ON AIRPORT FACIAL RECOGNITION MARKET
The outbreak of the COVID-19 has severely impacted the aviation and travel industries. The busiest airport across the world experienced a significant drop in passenger and cargo traffic. The airport operators faced substantial losses in revenue generation. However, the COVID-19 pandemic had a positive impact on the demand for facial recognition at airports. COVID - 19 pandemic is a driving factor for the market, as airports opted for more digital solutions to maintain social distancing and continue the airport operations. Rising demand for high-end security solutions has augmented the adoption of the face recognition system. Facial recognition has changed the way of operations at airports to meet COVID - 19 regulatory requirements with enhanced safety solutions.
MARKET PLAYERS
The report covers key developments in the Airport facial recognition market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Airport facial recognition market are anticipated to lucrative growth opportunities in the future with the rising demand for Airport facial recognition in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Airport facial recognition market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Aurora Computer Services Ltd
- Ayonix corp.
- Collins Aerospace, a part of Raytheon Technologies
- Face4 Systems.
- FaceFirst
- Kairos AR, Inc.
- NEC Corporation
- SCYLLA TECHNOLOGIES INC.
- SITA
- Thales Group
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Airport Facial Recognition Market - By Type
1.3.2Airport Facial Recognition Market - By Airport Class
1.3.3Airport Facial Recognition Market - By Application
1.3.4Airport Facial Recognition Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.AIRPORT FACIAL RECOGNITION MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTER'S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.AIRPORT FACIAL RECOGNITION MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.AIRPORT FACIAL RECOGNITION MARKET - GLOBAL MARKET ANALYSIS
6.1.AIRPORT FACIAL RECOGNITION - GLOBAL MARKET OVERVIEW
6.2.AIRPORT FACIAL RECOGNITION - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.AIRPORT FACIAL RECOGNITION MARKET - REVENUE AND FORECASTS TO 2028 â" TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.2D RECOGNITION
7.3.1.Overview
7.3.2.2D Recognition Market Forecast and Analysis
7.4.3D RECOGNITION
7.4.1.Overview
7.4.2.3D Recognition Market Forecast and Analysis
8.AIRPORT FACIAL RECOGNITION MARKET - REVENUE AND FORECASTS TO 2028 â" AIRPORT CLASS
8.1.OVERVIEW
8.2.AIRPORT CLASS MARKET FORECASTS AND ANALYSIS
8.3.CLASS I
8.3.1.Overview
8.3.2.Class I Market Forecast and Analysis
8.4.CLASS II
8.4.1.Overview
8.4.2.Class II Market Forecast and Analysis
8.5.CLASS III
8.5.1.Overview
8.5.2.Class III Market Forecast and Analysis
8.6.CLASS IV
8.6.1.Overview
8.6.2.Class IV Market Forecast and Analysis
9.AIRPORT FACIAL RECOGNITION MARKET - REVENUE AND FORECASTS TO 2028 â" APPLICATION
9.1.OVERVIEW
9.2.APPLICATION MARKET FORECASTS AND ANALYSIS
9.3.PASSENGER CHECK-IN
9.3.1.Overview
9.3.2.Passenger Check-in Market Forecast and Analysis
9.4.SURVEILLANCE
9.4.1.Overview
9.4.2.Surveillance Market Forecast and Analysis
10.AIRPORT FACIAL RECOGNITION MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Airport Facial Recognition Market Overview
10.1.2North America Airport Facial Recognition Market Forecasts and Analysis
10.1.3North America Airport Facial Recognition Market Forecasts and Analysis - By Type
10.1.4North America Airport Facial Recognition Market Forecasts and Analysis - By Airport Class
10.1.5North America Airport Facial Recognition Market Forecasts and Analysis - By Application
10.1.6North America Airport Facial Recognition Market Forecasts and Analysis - By Countries
10.1.6.1United States Airport Facial Recognition Market
10.1.6.1.1United States Airport Facial Recognition Market by Type
10.1.6.1.2United States Airport Facial Recognition Market by Airport Class
10.1.6.1.3United States Airport Facial Recognition Market by Application
10.1.6.2Canada Airport Facial Recognition Market
10.1.6.2.1Canada Airport Facial Recognition Market by Type
10.1.6.2.2Canada Airport Facial Recognition Market by Airport Class
10.1.6.2.3Canada Airport Facial Recognition Market by Application
10.1.6.3Mexico Airport Facial Recognition Market
10.1.6.3.1Mexico Airport Facial Recognition Market by Type
10.1.6.3.2Mexico Airport Facial Recognition Market by Airport Class
10.1.6.3.3Mexico Airport Facial Recognition Market by Application
10.2.EUROPE
10.2.1Europe Airport Facial Recognition Market Overview
10.2.2Europe Airport Facial Recognition Market Forecasts and Analysis
10.2.3Europe Airport Facial Recognition Market Forecasts and Analysis - By Type
10.2.4Europe Airport Facial Recognition Market Forecasts and Analysis - By Airport Class
10.2.5Europe Airport Facial Recognition Market Forecasts and Analysis - By Application
10.2.6Europe Airport Facial Recognition Market Forecasts and Analysis - By Countries
10.2.6.1Germany Airport Facial Recognition Market
10.2.6.1.1Germany Airport Facial Recognition Market by Type
10.2.6.1.2Germany Airport Facial Recognition Market by Airport Class
10.2.6.1.3Germany Airport Facial Recognition Market by Application
10.2.6.2France Airport Facial Recognition Market
10.2.6.2.1France Airport Facial Recognition Market by Type
10.2.6.2.2France Airport Facial Recognition Market by Airport Class
10.2.6.2.3France Airport Facial Recognition Market by Application
10.2.6.3Italy Airport Facial Recognition Market
10.2.6.3.1Italy Airport Facial Recognition Market by Type
10.2.6.3.2Italy Airport Facial Recognition Market by Airport Class
10.2.6.3.3Italy Airport Facial Recognition Market by Application
10.2.6.4United Kingdom Airport Facial Recognition Market
10.2.6.4.1United Kingdom Airport Facial Recognition Market by Type
10.2.6.4.2United Kingdom Airport Facial Recognition Market by Airport Class
10.2.6.4.3United Kingdom Airport Facial Recognition Market by Application
10.2.6.5Russia Airport Facial Recognition Market
10.2.6.5.1Russia Airport Facial Recognition Market by Type
10.2.6.5.2Russia Airport Facial Recognition Market by Airport Class
10.2.6.5.3Russia Airport Facial Recognition Market by Application
10.2.6.6Rest of Europe Airport Facial Recognition Market
10.2.6.6.1Rest of Europe Airport Facial Recognition Market by Type
10.2.6.6.2Rest of Europe Airport Facial Recognition Market by Airport Class
10.2.6.6.3Rest of Europe Airport Facial Recognition Market by Application
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Airport Facial Recognition Market Overview
10.3.2Asia-Pacific Airport Facial Recognition Market Forecasts and Analysis
10.3.3Asia-Pacific Airport Facial Recognition Market Forecasts and Analysis - By Type
10.3.4Asia-Pacific Airport Facial Recognition Market Forecasts and Analysis - By Airport Class
10.3.5Asia-Pacific Airport Facial Recognition Market Forecasts and Analysis - By Application
10.3.6Asia-Pacific Airport Facial Recognition Market Forecasts and Analysis - By Countries
10.3.6.1Australia Airport Facial Recognition Market
10.3.6.1.1Australia Airport Facial Recognition Market by Type
10.3.6.1.2Australia Airport Facial Recognition Market by Airport Class
10.3.6.1.3Australia Airport Facial Recognition Market by Application
10.3.6.2China Airport Facial Recognition Market
10.3.6.2.1China Airport Facial Recognition Market by Type
10.3.6.2.2China Airport Facial Recognition Market by Airport Class
10.3.6.2.3China Airport Facial Recognition Market by Application
10.3.6.3India Airport Facial Recognition Market
10.3.6.3.1India Airport Facial Recognition Market by Type
10.3.6.3.2India Airport Facial Recognition Market by Airport Class
10.3.6.3.3India Airport Facial Recognition Market by Application
10.3.6.4Japan Airport Facial Recognition Market
10.3.6.4.1Japan Airport Facial Recognition Market by Type
10.3.6.4.2Japan Airport Facial Recognition Market by Airport Class
10.3.6.4.3Japan Airport Facial Recognition Market by Application
10.3.6.5South Korea Airport Facial Recognition Market
10.3.6.5.1South Korea Airport Facial Recognition Market by Type
10.3.6.5.2South Korea Airport Facial Recognition Market by Airport Class
10.3.6.5.3South Korea Airport Facial Recognition Market by Application
10.3.6.6Rest of Asia-Pacific Airport Facial Recognition Market
10.3.6.6.1Rest of Asia-Pacific Airport Facial Recognition Market by Type
10.3.6.6.2Rest of Asia-Pacific Airport Facial Recognition Market by Airport Class
10.3.6.6.3Rest of Asia-Pacific Airport Facial Recognition Market by Application
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Airport Facial Recognition Market Overview
10.4.2Middle East and Africa Airport Facial Recognition Market Forecasts and Analysis
10.4.3Middle East and Africa Airport Facial Recognition Market Forecasts and Analysis - By Type
10.4.4Middle East and Africa Airport Facial Recognition Market Forecasts and Analysis - By Airport Class
10.4.5Middle East and Africa Airport Facial Recognition Market Forecasts and Analysis - By Application
10.4.6Middle East and Africa Airport Facial Recognition Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Airport Facial Recognition Market
10.4.6.1.1South Africa Airport Facial Recognition Market by Type
10.4.6.1.2South Africa Airport Facial Recognition Market by Airport Class
10.4.6.1.3South Africa Airport Facial Recognition Market by Application
10.4.6.2Saudi Arabia Airport Facial Recognition Market
10.4.6.2.1Saudi Arabia Airport Facial Recognition Market by Type
10.4.6.2.2Saudi Arabia Airport Facial Recognition Market by Airport Class
10.4.6.2.3Saudi Arabia Airport Facial Recognition Market by Application
10.4.6.3U.A.E Airport Facial Recognition Market
10.4.6.3.1U.A.E Airport Facial Recognition Market by Type
10.4.6.3.2U.A.E Airport Facial Recognition Market by Airport Class
10.4.6.3.3U.A.E Airport Facial Recognition Market by Application
10.4.6.4Rest of Middle East and Africa Airport Facial Recognition Market
10.4.6.4.1Rest of Middle East and Africa Airport Facial Recognition Market by Type
10.4.6.4.2Rest of Middle East and Africa Airport Facial Recognition Market by Airport Class
10.4.6.4.3Rest of Middle East and Africa Airport Facial Recognition Market by Application
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Airport Facial Recognition Market Overview
10.5.2South and Central America Airport Facial Recognition Market Forecasts and Analysis
10.5.3South and Central America Airport Facial Recognition Market Forecasts and Analysis - By Type
10.5.4South and Central America Airport Facial Recognition Market Forecasts and Analysis - By Airport Class
10.5.5South and Central America Airport Facial Recognition Market Forecasts and Analysis - By Application
10.5.6South and Central America Airport Facial Recognition Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Airport Facial Recognition Market
10.5.6.1.1Brazil Airport Facial Recognition Market by Type
10.5.6.1.2Brazil Airport Facial Recognition Market by Airport Class
10.5.6.1.3Brazil Airport Facial Recognition Market by Application
10.5.6.2Rest of South and Central America Airport Facial Recognition Market
10.5.6.2.1Rest of South and Central America Airport Facial Recognition Market by Type
10.5.6.2.2Rest of South and Central America Airport Facial Recognition Market by Airport Class
10.5.6.2.3Rest of South and Central America Airport Facial Recognition Market by Application
11.INDUSTRY LANDSCAPE
11.1.MERGERS AND ACQUISITIONS
11.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3.NEW PRODUCT LAUNCHES
11.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12.AIRPORT FACIAL RECOGNITION MARKET, KEY COMPANY PROFILES
12.1.AURORA COMPUTER SERVICES LTD
12.1.1.Key Facts
12.1.2.Business Description
12.1.3.Products and Services
12.1.4.Financial Overview
12.1.5.SWOT Analysis
12.1.6.Key Developments
12.2.AYONIX CORP.Â
12.2.1.Key Facts
12.2.2.Business Description
12.2.3.Products and Services
12.2.4.Financial Overview
12.2.5.SWOT Analysis
12.2.6.Key Developments
12.3.COLLINS AEROSPACE, A PART OF RAYTHEON TECHNOLOGIES
12.3.1.Key Facts
12.3.2.Business Description
12.3.3.Products and Services
12.3.4.Financial Overview
12.3.5.SWOT Analysis
12.3.6.Key Developments
12.4.FACE4 SYSTEMS.
12.4.1.Key Facts
12.4.2.Business Description
12.4.3.Products and Services
12.4.4.Financial Overview
12.4.5.SWOT Analysis
12.4.6.Key Developments
12.5.FACEFIRST
12.5.1.Key Facts
12.5.2.Business Description
12.5.3.Products and Services
12.5.4.Financial Overview
12.5.5.SWOT Analysis
12.5.6.Key Developments
12.6.KAIROS AR, INC.
12.6.1.Key Facts
12.6.2.Business Description
12.6.3.Products and Services
12.6.4.Financial Overview
12.6.5.SWOT Analysis
12.6.6.Key Developments
12.7.NEC CORPORATIONÂ
12.7.1.Key Facts
12.7.2.Business Description
12.7.3.Products and Services
12.7.4.Financial Overview
12.7.5.SWOT Analysis
12.7.6.Key Developments
12.8.SCYLLA TECHNOLOGIES INC.Â
12.8.1.Key Facts
12.8.2.Business Description
12.8.3.Products and Services
12.8.4.Financial Overview
12.8.5.SWOT Analysis
12.8.6.Key Developments
12.9.SITAÂ
12.9.1.Key Facts
12.9.2.Business Description
12.9.3.Products and Services
12.9.4.Financial Overview
12.9.5.SWOT Analysis
12.9.6.Key Developments
12.10.THALES GROUP
12.10.1.Key Facts
12.10.2.Business Description
12.10.3.Products and Services
12.10.4.Financial Overview
12.10.5.SWOT Analysis
12.10.6.Key Developments
13.APPENDIX
13.1.ABOUT THE INSIGHT PARTNERS
13.2.GLOSSARY OF TERMS
1.Aurora Computer Services Ltd
2.Ayonix corp.Â
3.Collins Aerospace, a part of Raytheon Technologies
4.Face4 Systems.
5.FaceFirst
6.Kairos AR, Inc.
7.NEC CorporationÂ
8.SCYLLA TECHNOLOGIES INC.Â
9.SITAÂ
10.Thales Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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