Airport RFID System Market Trends and Forecast (2021-2031)
The Airport RFID System Market is expected to register a CAGR of 10.2% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
Airport RFID System Market Research Report Information by Frequency (Low Frequency, High Frequency and Ultra-High Frequency), Application (Baggage Tracking, Flyable Parts Tracking, Inventory Management and others), Type (Product and Software) and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Purpose of the ReportThe report Airport RFID System Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Airport RFID System Market Segmentation
Frequency- Low Frequency
- High Frequency and Ultra-High Frequency
- Baggage Tracking
- Flyable Parts Tracking
- Inventory Management and others
- Product and Software
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Airport RFID System Market Growth Drivers- Increasing Passenger Traffic and Operational Efficiency: As global air travel continues to grow, airports are under increasing pressure to enhance operational efficiency and improve the passenger experience. RFID systems help streamline airport processes, including baggage handling, passenger tracking, and security procedures. The use of RFID technology improves the speed, accuracy, and automation of these processes, significantly reducing delays and operational costs. This growing need for efficiency, especially during peak travel times, is a key driver for the adoption of RFID systems in airports.
- Advancements in RFID Technology: Continuous advancements in RFID technology, such as improved read ranges, faster data processing, and reduced costs, have made RFID systems more attractive to airports. The development of passive RFID tags, which do not require batteries and can be read from a distance, offers a more cost-effective solution for airports. The ability to integrate RFID systems with other technologies like cloud computing, data analytics, and Internet of Things (IoT) platforms further enhances the efficiency of airport operations, making RFID solutions more accessible and beneficial.
- Biometric and RFID Integration: The future of airport RFID systems lies in the seamless integration of RFID with biometric technology. Airports are exploring the use of facial recognition, fingerprint scanning, and other biometric systems alongside RFID to create a fully automated, seamless travel experience. This integration could allow passengers to be automatically identified and processed at various points throughout their journey, from check-in and security to boarding. The combination of biometric and RFID technology is expected to significantly reduce wait times and enhance both security and convenience for travelers.
- Smart Luggage Solutions: As the demand for smart and connected devices grows, smart luggage solutions that integrate RFID technology are becoming increasingly popular. These luggage items come equipped with RFID tags that allow passengers to track their bags in real-time via mobile apps, reducing the stress and inconvenience of lost luggage. Additionally, RFID-enabled smart luggage can be used to streamline the baggage handling process, making it faster and more efficient. The increasing trend of smart luggage offers new opportunities for RFID technology in the airport environment.
- Integration with IoT and Big Data: The integration of RFID systems with IoT platforms and big data analytics presents significant opportunities for the airport RFID system market. By combining real-time tracking data with advanced analytics, airports can gain valuable insights into passenger behavior, baggage handling, and operational inefficiencies. This data can be used to optimize processes, predict passenger flow, and improve resource management. The synergy between RFID, IoT, and big data allows airports to enhance overall passenger satisfaction and reduce costs.
- Automation in Baggage Handling and Check-In: Baggage handling is one of the key areas where RFID systems provide substantial benefits. RFID-enabled baggage tags allow for automatic tracking and smoother handling, reducing human errors and baggage mishandling. The opportunity to integrate RFID systems with self-service kiosks and automated check-in processes is growing, as passengers increasingly demand faster, more efficient experiences. Automating baggage handling with RFID not only improves customer satisfaction but also reduces operational costs associated with lost or delayed luggage.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Airport RFID System Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Airport RFID System Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- 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
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to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The major players includes Global Eagle, Panasonic Avionics Corporation, IMM International, MaXposure Media Group (I) Pvt. Ltd., EAM Advertising LLC, Atin OOH, Global Onboard Partners, Blue Mushroom, The Zagoren Collective
High manufacturing cost of the airport RFID systems hinders the market growth.
The Airport RFID System Market is estimated to witness a CAGR of 10.2% from 2023 to 2031
Rising Stringent Compliance and Safety Standards by the Major Players in the Market Drives the Market Growth:
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Airport RFID System Market - By Frequency
1.3.2Airport RFID System Market - By Application
1.3.3Airport RFID System Market - By Product Type
1.3.4Airport RFID System Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.AIRPORT RFID SYSTEM MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.AIRPORT RFID SYSTEM 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6.AIRPORT RFID SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1.AIRPORT RFID SYSTEM - GLOBAL MARKET OVERVIEW
6.2.AIRPORT RFID SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.AIRPORT RFID SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - FREQUENCY
7.1.OVERVIEW
7.2.FREQUENCY MARKET FORECASTS AND ANALYSIS
7.3.LOW
7.3.1.Overview
7.3.2.Low Market Forecast and Analysis
7.4.HIGH
7.4.1.Overview
7.4.2.High Market Forecast and Analysis
7.5.ULTRA-HIGH
7.5.1.Overview
7.5.2.Ultra-High Market Forecast and Analysis
8.AIRPORT RFID SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.INVENTORY MANAGEMENT
8.3.1.Overview
8.3.2.Inventory Management Market Forecast and Analysis
8.4.BAGGAGE TRACKING
8.4.1.Overview
8.4.2.Baggage Tracking Market Forecast and Analysis
8.5.FLYABLE PARTS TRACKING
8.5.1.Overview
8.5.2.Flyable Parts Tracking Market Forecast and Analysis
9.AIRPORT RFID SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
9.1.OVERVIEW
9.2.PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
9.3.TAGS
9.3.1.Overview
9.3.2.Tags Market Forecast and Analysis
9.4.READERS
9.4.1.Overview
9.4.2.Readers Market Forecast and Analysis
9.5.SOFTWARE
9.5.1.Overview
9.5.2.Software Market Forecast and Analysis
10.AIRPORT RFID SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Airport RFID System Market Overview
10.1.2North America Airport RFID System Market Forecasts and Analysis
10.1.3North America Airport RFID System Market Forecasts and Analysis - By Frequency
10.1.4North America Airport RFID System Market Forecasts and Analysis - By Application
10.1.5North America Airport RFID System Market Forecasts and Analysis - By Product Type
10.1.6North America Airport RFID System Market Forecasts and Analysis - By Countries
10.1.6.1United States Airport RFID System Market
10.1.6.1.1United States Airport RFID System Market by Frequency
10.1.6.1.2United States Airport RFID System Market by Application
10.1.6.1.3United States Airport RFID System Market by Product Type
10.1.6.2Canada Airport RFID System Market
10.1.6.2.1Canada Airport RFID System Market by Frequency
10.1.6.2.2Canada Airport RFID System Market by Application
10.1.6.2.3Canada Airport RFID System Market by Product Type
10.1.6.3Mexico Airport RFID System Market
10.1.6.3.1Mexico Airport RFID System Market by Frequency
10.1.6.3.2Mexico Airport RFID System Market by Application
10.1.6.3.3Mexico Airport RFID System Market by Product Type
10.2.EUROPE
10.2.1Europe Airport RFID System Market Overview
10.2.2Europe Airport RFID System Market Forecasts and Analysis
10.2.3Europe Airport RFID System Market Forecasts and Analysis - By Frequency
10.2.4Europe Airport RFID System Market Forecasts and Analysis - By Application
10.2.5Europe Airport RFID System Market Forecasts and Analysis - By Product Type
10.2.6Europe Airport RFID System Market Forecasts and Analysis - By Countries
10.2.6.1Germany Airport RFID System Market
10.2.6.1.1Germany Airport RFID System Market by Frequency
10.2.6.1.2Germany Airport RFID System Market by Application
10.2.6.1.3Germany Airport RFID System Market by Product Type
10.2.6.2France Airport RFID System Market
10.2.6.2.1France Airport RFID System Market by Frequency
10.2.6.2.2France Airport RFID System Market by Application
10.2.6.2.3France Airport RFID System Market by Product Type
10.2.6.3Italy Airport RFID System Market
10.2.6.3.1Italy Airport RFID System Market by Frequency
10.2.6.3.2Italy Airport RFID System Market by Application
10.2.6.3.3Italy Airport RFID System Market by Product Type
10.2.6.4United Kingdom Airport RFID System Market
10.2.6.4.1United Kingdom Airport RFID System Market by Frequency
10.2.6.4.2United Kingdom Airport RFID System Market by Application
10.2.6.4.3United Kingdom Airport RFID System Market by Product Type
10.2.6.5Russia Airport RFID System Market
10.2.6.5.1Russia Airport RFID System Market by Frequency
10.2.6.5.2Russia Airport RFID System Market by Application
10.2.6.5.3Russia Airport RFID System Market by Product Type
10.2.6.6Rest of Europe Airport RFID System Market
10.2.6.6.1Rest of Europe Airport RFID System Market by Frequency
10.2.6.6.2Rest of Europe Airport RFID System Market by Application
10.2.6.6.3Rest of Europe Airport RFID System Market by Product Type
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Airport RFID System Market Overview
10.3.2Asia-Pacific Airport RFID System Market Forecasts and Analysis
10.3.3Asia-Pacific Airport RFID System Market Forecasts and Analysis - By Frequency
10.3.4Asia-Pacific Airport RFID System Market Forecasts and Analysis - By Application
10.3.5Asia-Pacific Airport RFID System Market Forecasts and Analysis - By Product Type
10.3.6Asia-Pacific Airport RFID System Market Forecasts and Analysis - By Countries
10.3.6.1Australia Airport RFID System Market
10.3.6.1.1Australia Airport RFID System Market by Frequency
10.3.6.1.2Australia Airport RFID System Market by Application
10.3.6.1.3Australia Airport RFID System Market by Product Type
10.3.6.2China Airport RFID System Market
10.3.6.2.1China Airport RFID System Market by Frequency
10.3.6.2.2China Airport RFID System Market by Application
10.3.6.2.3China Airport RFID System Market by Product Type
10.3.6.3India Airport RFID System Market
10.3.6.3.1India Airport RFID System Market by Frequency
10.3.6.3.2India Airport RFID System Market by Application
10.3.6.3.3India Airport RFID System Market by Product Type
10.3.6.4Japan Airport RFID System Market
10.3.6.4.1Japan Airport RFID System Market by Frequency
10.3.6.4.2Japan Airport RFID System Market by Application
10.3.6.4.3Japan Airport RFID System Market by Product Type
10.3.6.5South Korea Airport RFID System Market
10.3.6.5.1South Korea Airport RFID System Market by Frequency
10.3.6.5.2South Korea Airport RFID System Market by Application
10.3.6.5.3South Korea Airport RFID System Market by Product Type
10.3.6.6Rest of Asia-Pacific Airport RFID System Market
10.3.6.6.1Rest of Asia-Pacific Airport RFID System Market by Frequency
10.3.6.6.2Rest of Asia-Pacific Airport RFID System Market by Application
10.3.6.6.3Rest of Asia-Pacific Airport RFID System Market by Product Type
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Airport RFID System Market Overview
10.4.2Middle East and Africa Airport RFID System Market Forecasts and Analysis
10.4.3Middle East and Africa Airport RFID System Market Forecasts and Analysis - By Frequency
10.4.4Middle East and Africa Airport RFID System Market Forecasts and Analysis - By Application
10.4.5Middle East and Africa Airport RFID System Market Forecasts and Analysis - By Product Type
10.4.6Middle East and Africa Airport RFID System Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Airport RFID System Market
10.4.6.1.1South Africa Airport RFID System Market by Frequency
10.4.6.1.2South Africa Airport RFID System Market by Application
10.4.6.1.3South Africa Airport RFID System Market by Product Type
10.4.6.2Saudi Arabia Airport RFID System Market
10.4.6.2.1Saudi Arabia Airport RFID System Market by Frequency
10.4.6.2.2Saudi Arabia Airport RFID System Market by Application
10.4.6.2.3Saudi Arabia Airport RFID System Market by Product Type
10.4.6.3U.A.E Airport RFID System Market
10.4.6.3.1U.A.E Airport RFID System Market by Frequency
10.4.6.3.2U.A.E Airport RFID System Market by Application
10.4.6.3.3U.A.E Airport RFID System Market by Product Type
10.4.6.4Rest of Middle East and Africa Airport RFID System Market
10.4.6.4.1Rest of Middle East and Africa Airport RFID System Market by Frequency
10.4.6.4.2Rest of Middle East and Africa Airport RFID System Market by Application
10.4.6.4.3Rest of Middle East and Africa Airport RFID System Market by Product Type
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Airport RFID System Market Overview
10.5.2South and Central America Airport RFID System Market Forecasts and Analysis
10.5.3South and Central America Airport RFID System Market Forecasts and Analysis - By Frequency
10.5.4South and Central America Airport RFID System Market Forecasts and Analysis - By Application
10.5.5South and Central America Airport RFID System Market Forecasts and Analysis - By Product Type
10.5.6South and Central America Airport RFID System Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Airport RFID System Market
10.5.6.1.1Brazil Airport RFID System Market by Frequency
10.5.6.1.2Brazil Airport RFID System Market by Application
10.5.6.1.3Brazil Airport RFID System Market by Product Type
10.5.6.2Argentina Airport RFID System Market
10.5.6.2.1Argentina Airport RFID System Market by Frequency
10.5.6.2.2Argentina Airport RFID System Market by Application
10.5.6.2.3Argentina Airport RFID System Market by Product Type
10.5.6.3Rest of South and Central America Airport RFID System Market
10.5.6.3.1Rest of South and Central America Airport RFID System Market by Frequency
10.5.6.3.2Rest of South and Central America Airport RFID System Market by Application
10.5.6.3.3Rest of South and Central America Airport RFID System Market by Product Type
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 RFID SYSTEM MARKET, KEY COMPANY PROFILES
12.1.BEUMER GROUP
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.COLLINS AEROSPACE
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.CONFIDEX LTD.
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.DAIFUKU CO., LTD.
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.GAO RFID INC. (GAO GROUP)
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.GLOBERANGER (FUJITSU)
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.HONEYWELL INTERNATIONAL INC.
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.LYNGSOE SYSTEMS A/S
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.RFID GLOBAL SOLUTION?
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.SYRMA TECHNOLOGY
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. BEUMER Group2. Collins Aerospace3. Confidex Ltd.4. Daifuku Co., Ltd.5. GAO RFID Inc. (GAO Group)6. GlobeRanger (Fujitsu)7. Honeywell International Inc.8. Lyngsoe Systems A/S9. RFID Global Solution-10. Syrma Technology
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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