Armored Personnel Carrier Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
An armored personnel carrier (APC) is a broad type of armored military vehicle designed to transport personnel and equipment in combat zones. a tracked military vehicle with steel or aluminum is used to transport troops in combat and is usually fitted with light armament. The rising adoption of crewless combat ground vehicles by defense sectors in different countries is expected to bolster the demand for armored vehicles in the future. The market is also divided into type, a number of occupants, and range.
MARKET SCOPE
The "Armoured Personnel Carrier Market Analysis from 2021 to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the armoured personnel carrier market with detailed market segmentation by type, number of occupants, range, and geography. The report provides key statistics on the market status of the leading armoured personnel carrier market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
On the basis of type, the market is segmented into tracked and wheeled.
On the basis of the Number of occupants, it is segmented into Less than 10, 10 to 15, and More than 15.
On the basis of range, it is segmented into 200 -400 Km, 400-600Km and Above 600Km.
MARKET DYNAMICS
Drivers - The increase in defense budgets is propelling the armored personnel carrier market.
Restraints- High vibrations and sounds associated with tracked APCs.
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 armoured personnel carrier 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 the 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 evaluating the factors affecting the armoured personnel carrier market in these regions.
Impact of COVID-19 on Armored Personnel Carrier Market
The COVID-19 pandemic has caused a multi-level impact on economies globally. The global manufacturing of automotive parts, components, and assembly lines has been severely impacted. Although the production of armored personnel Carrier is of prime importance, disruptions in the supply chain have affected their manufacturing for the time being. Resuming the manufacturing and deliveries of armored personnel carrier depends on the level of COVID-19 exposure a country is facing, the level at which manufacturing operations are running, and import-export regulations, among others. Although companies may still be taking in orders, delivery schedules might not be on time.
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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 armoured personnel carrier 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 the 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 evaluating the factors affecting the armoured personnel carrier market in these regions.
Impact of COVID-19 on Armored Personnel Carrier Market
The COVID-19 pandemic has caused a multi-level impact on economies globally. The global manufacturing of automotive parts, components, and assembly lines has been severely impacted. Although the production of armored personnel Carrier is of prime importance, disruptions in the supply chain have affected their manufacturing for the time being. Resuming the manufacturing and deliveries of armored personnel carrier depends on the level of COVID-19 exposure a country is facing, the level at which manufacturing operations are running, and import-export regulations, among others. Although companies may still be taking in orders, delivery schedules might not be on time.
MARKET PLAYERS
The report covers key developments in the armored personnel carriers (APCs) 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 witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from armored personnel carriers market are anticipated to have lucrative growth opportunities in the future with the rising demand for armored personnel carriers Market in the global market. Below mentioned is the list of few companies engaged in the armored personnel carriers market .
The report also includes the profiles of key players in armored personnel carriers market along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- ARTEC GmbH
- Patria
- General Dynamics European Land Systems
- Mahindra Emirates Vehicle Armouring Fz
- Military Industrial Company LLC
- Otokar Otomotiv ve Savunma Sanayi A.
- NIMR Automotive
- Tata Motors
- Hanwa Corporation
- Textron Systems
- 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
1.3.1 Armored Personnel Carrier Market - By Type
1.3.2 Armored Personnel Carrier Market - By Number of Occupant
1.3.3 Armored Personnel Carrier Market - By Range
1.3.4 Armored Personnel Carrier Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ARMORED PERSONNEL CARRIER MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. ARMORED PERSONNEL CARRIER 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. ARMORED PERSONNEL CARRIER MARKET - GLOBAL MARKET ANALYSIS
6.1. ARMORED PERSONNEL CARRIER - GLOBAL MARKET OVERVIEW
6.2. ARMORED PERSONNEL CARRIER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ARMORED PERSONNEL CARRIER MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. TRACKED
7.3.1. Overview
7.3.2. Tracked Market Forecast and Analysis
7.4. WHEELED
7.4.1. Overview
7.4.2. Wheeled Market Forecast and Analysis
8. ARMORED PERSONNEL CARRIER MARKET - REVENUE AND FORECASTS TO 2028 - NUMBER OF OCCUPANT
8.1. OVERVIEW
8.2. NUMBER OF OCCUPANT MARKET FORECASTS AND ANALYSIS
8.3. LESS THAN 10
8.3.1. Overview
8.3.2. Less than 10 Market Forecast and Analysis
8.4. 10 TO 15
8.4.1. Overview
8.4.2. 10 to 15 Market Forecast and Analysis
8.5. MORE THAN 15
8.5.1. Overview
8.5.2. More than 15 Market Forecast and Analysis
9. ARMORED PERSONNEL CARRIER MARKET - REVENUE AND FORECASTS TO 2028 - RANGE
9.1. OVERVIEW
9.2. RANGE MARKET FORECASTS AND ANALYSIS
9.3. 200 - 400 KM
9.3.1. Overview
9.3.2. 200 - 400 Km Market Forecast and Analysis
9.4. 400 - 600 KM
9.4.1. Overview
9.4.2. 400 - 600 Km Market Forecast and Analysis
9.5. ABOVE 600 KM
9.5.1. Overview
9.5.2. Above 600 Km Market Forecast and Analysis
10. ARMORED PERSONNEL CARRIER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Armored Personnel Carrier Market Overview
10.1.2 North America Armored Personnel Carrier Market Forecasts and Analysis
10.1.3 North America Armored Personnel Carrier Market Forecasts and Analysis - By Type
10.1.4 North America Armored Personnel Carrier Market Forecasts and Analysis - By Number of Occupant
10.1.5 North America Armored Personnel Carrier Market Forecasts and Analysis - By Range
10.1.6 North America Armored Personnel Carrier Market Forecasts and Analysis - By Countries
10.1.6.1 United States Armored Personnel Carrier Market
10.1.6.1.1 United States Armored Personnel Carrier Market by Type
10.1.6.1.2 United States Armored Personnel Carrier Market by Number of Occupant
10.1.6.1.3 United States Armored Personnel Carrier Market by Range
10.1.6.2 Canada Armored Personnel Carrier Market
10.1.6.2.1 Canada Armored Personnel Carrier Market by Type
10.1.6.2.2 Canada Armored Personnel Carrier Market by Number of Occupant
10.1.6.2.3 Canada Armored Personnel Carrier Market by Range
10.1.6.3 Mexico Armored Personnel Carrier Market
10.1.6.3.1 Mexico Armored Personnel Carrier Market by Type
10.1.6.3.2 Mexico Armored Personnel Carrier Market by Number of Occupant
10.1.6.3.3 Mexico Armored Personnel Carrier Market by Range
10.1.6.4 US Armored Personnel Carrier Market
10.1.6.4.1 US Armored Personnel Carrier Market by Type
10.1.6.4.2 US Armored Personnel Carrier Market by Number of Occupant
10.1.6.4.3 US Armored Personnel Carrier Market by Range
10.2. EUROPE
10.2.1 Europe Armored Personnel Carrier Market Overview
10.2.2 Europe Armored Personnel Carrier Market Forecasts and Analysis
10.2.3 Europe Armored Personnel Carrier Market Forecasts and Analysis - By Type
10.2.4 Europe Armored Personnel Carrier Market Forecasts and Analysis - By Number of Occupant
10.2.5 Europe Armored Personnel Carrier Market Forecasts and Analysis - By Range
10.2.6 Europe Armored Personnel Carrier Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Armored Personnel Carrier Market
10.2.6.1.1 Germany Armored Personnel Carrier Market by Type
10.2.6.1.2 Germany Armored Personnel Carrier Market by Number of Occupant
10.2.6.1.3 Germany Armored Personnel Carrier Market by Range
10.2.6.2 France Armored Personnel Carrier Market
10.2.6.2.1 France Armored Personnel Carrier Market by Type
10.2.6.2.2 France Armored Personnel Carrier Market by Number of Occupant
10.2.6.2.3 France Armored Personnel Carrier Market by Range
10.2.6.3 Italy Armored Personnel Carrier Market
10.2.6.3.1 Italy Armored Personnel Carrier Market by Type
10.2.6.3.2 Italy Armored Personnel Carrier Market by Number of Occupant
10.2.6.3.3 Italy Armored Personnel Carrier Market by Range
10.2.6.4 Spain Armored Personnel Carrier Market
10.2.6.4.1 Spain Armored Personnel Carrier Market by Type
10.2.6.4.2 Spain Armored Personnel Carrier Market by Number of Occupant
10.2.6.4.3 Spain Armored Personnel Carrier Market by Range
10.2.6.5 United Kingdom Armored Personnel Carrier Market
10.2.6.5.1 United Kingdom Armored Personnel Carrier Market by Type
10.2.6.5.2 United Kingdom Armored Personnel Carrier Market by Number of Occupant
10.2.6.5.3 United Kingdom Armored Personnel Carrier Market by Range
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Armored Personnel Carrier Market Overview
10.3.2 Asia-Pacific Armored Personnel Carrier Market Forecasts and Analysis
10.3.3 Asia-Pacific Armored Personnel Carrier Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Armored Personnel Carrier Market Forecasts and Analysis - By Number of Occupant
10.3.5 Asia-Pacific Armored Personnel Carrier Market Forecasts and Analysis - By Range
10.3.6 Asia-Pacific Armored Personnel Carrier Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Armored Personnel Carrier Market
10.3.6.1.1 Australia Armored Personnel Carrier Market by Type
10.3.6.1.2 Australia Armored Personnel Carrier Market by Number of Occupant
10.3.6.1.3 Australia Armored Personnel Carrier Market by Range
10.3.6.2 China Armored Personnel Carrier Market
10.3.6.2.1 China Armored Personnel Carrier Market by Type
10.3.6.2.2 China Armored Personnel Carrier Market by Number of Occupant
10.3.6.2.3 China Armored Personnel Carrier Market by Range
10.3.6.3 India Armored Personnel Carrier Market
10.3.6.3.1 India Armored Personnel Carrier Market by Type
10.3.6.3.2 India Armored Personnel Carrier Market by Number of Occupant
10.3.6.3.3 India Armored Personnel Carrier Market by Range
10.3.6.4 Japan Armored Personnel Carrier Market
10.3.6.4.1 Japan Armored Personnel Carrier Market by Type
10.3.6.4.2 Japan Armored Personnel Carrier Market by Number of Occupant
10.3.6.4.3 Japan Armored Personnel Carrier Market by Range
10.3.6.5 Rest of Asia-Pacific Armored Personnel Carrier Market
10.3.6.5.1 Rest of Asia-Pacific Armored Personnel Carrier Market by Type
10.3.6.5.2 Rest of Asia-Pacific Armored Personnel Carrier Market by Number of Occupant
10.3.6.5.3 Rest of Asia-Pacific Armored Personnel Carrier Market by Range
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Armored Personnel Carrier Market Overview
10.4.2 Middle East and Africa Armored Personnel Carrier Market Forecasts and Analysis
10.4.3 Middle East and Africa Armored Personnel Carrier Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Armored Personnel Carrier Market Forecasts and Analysis - By Number of Occupant
10.4.5 Middle East and Africa Armored Personnel Carrier Market Forecasts and Analysis - By Range
10.4.6 Middle East and Africa Armored Personnel Carrier Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Armored Personnel Carrier Market
10.4.6.1.1 South Africa Armored Personnel Carrier Market by Type
10.4.6.1.2 South Africa Armored Personnel Carrier Market by Number of Occupant
10.4.6.1.3 South Africa Armored Personnel Carrier Market by Range
10.4.6.2 Saudi Arabia Armored Personnel Carrier Market
10.4.6.2.1 Saudi Arabia Armored Personnel Carrier Market by Type
10.4.6.2.2 Saudi Arabia Armored Personnel Carrier Market by Number of Occupant
10.4.6.2.3 Saudi Arabia Armored Personnel Carrier Market by Range
10.4.6.3 U.A.E Armored Personnel Carrier Market
10.4.6.3.1 U.A.E Armored Personnel Carrier Market by Type
10.4.6.3.2 U.A.E Armored Personnel Carrier Market by Number of Occupant
10.4.6.3.3 U.A.E Armored Personnel Carrier Market by Range
10.4.6.4 Rest of Middle East and Africa Armored Personnel Carrier Market
10.4.6.4.1 Rest of Middle East and Africa Armored Personnel Carrier Market by Type
10.4.6.4.2 Rest of Middle East and Africa Armored Personnel Carrier Market by Number of Occupant
10.4.6.4.3 Rest of Middle East and Africa Armored Personnel Carrier Market by Range
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Armored Personnel Carrier Market Overview
10.5.2 South and Central America Armored Personnel Carrier Market Forecasts and Analysis
10.5.3 South and Central America Armored Personnel Carrier Market Forecasts and Analysis - By Type
10.5.4 South and Central America Armored Personnel Carrier Market Forecasts and Analysis - By Number of Occupant
10.5.5 South and Central America Armored Personnel Carrier Market Forecasts and Analysis - By Range
10.5.6 South and Central America Armored Personnel Carrier Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Armored Personnel Carrier Market
10.5.6.1.1 Brazil Armored Personnel Carrier Market by Type
10.5.6.1.2 Brazil Armored Personnel Carrier Market by Number of Occupant
10.5.6.1.3 Brazil Armored Personnel Carrier Market by Range
10.5.6.2 Argentina Armored Personnel Carrier Market
10.5.6.2.1 Argentina Armored Personnel Carrier Market by Type
10.5.6.2.2 Argentina Armored Personnel Carrier Market by Number of Occupant
10.5.6.2.3 Argentina Armored Personnel Carrier Market by Range
10.5.6.3 Chile Armored Personnel Carrier Market
10.5.6.3.1 Chile Armored Personnel Carrier Market by Type
10.5.6.3.2 Chile Armored Personnel Carrier Market by Number of Occupant
10.5.6.3.3 Chile Armored Personnel Carrier Market by Range
10.5.6.4 Rest of South and Central America Armored Personnel Carrier Market
10.5.6.4.1 Rest of South and Central America Armored Personnel Carrier Market by Type
10.5.6.4.2 Rest of South and Central America Armored Personnel Carrier Market by Number of Occupant
10.5.6.4.3 Rest of South and Central America Armored Personnel Carrier Market by Range
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. ARMORED PERSONNEL CARRIER MARKET, KEY COMPANY PROFILES
12.1. ARTEC GMBH
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. PATRIA
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. GENERAL DYNAMICS EUROPEAN LAND SYSTEMS
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. MAHINDRA EMIRATES VEHICLE ARMOURING FZ
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. MILITARY INDUSTRIAL COMPANY LLC
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. OTOKAR OTOMOTIV VE SAVUNMA SANAYI A.?
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. NIMR AUTOMOTIVE
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. TATA MOTORS
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. HANWA CORPORATION
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. TEXTRON SYSTEMS
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.ARTEC GmbH
2.Patria
3.General Dynamics European Land Systems
4.Mahindra Emirates Vehicle Armouring Fz
5.Military Industrial Company LLC
6.Otokar Otomotiv ve Savunma Sanayi A.
7.NIMR Automotive
8.Tata Motors
9.Hanwa Corporation
10.Textron Systems
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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