Asteroid Mining Market Dynamics 2021-2031
The extraction of raw materials from asteroids and other minor planets, including near-earth ones, is referred to as asteroids mining. Minerals can be extracted from an asteroid or a spent comet and used in space for construction or returned to Earth. Gold, iridium, silver, osmium, palladium, platinum, nickel, and aluminum are examples of these resources or raw materials. With the rise in the world's population, there is an increase in demand for the planet's limited resources. As a result, many governments and private companies have turned their attention to outer space in search of different resources, fueling the global asteroid mining industry.
MARKET SCOPE
The "Global Asteroid Mining 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 asteroid mining market with detailed market segmentation by phase, asteroid type, extraction technology, and geography. The report provides key statistics on the market status of the leading asteroid mining market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of phase, the market is segmented as spacecraft design, launch, operation.
- Based on asteroid type, the market is segmented into Type C, Type S, others.
- Based on extraction technology, the market is segmented into shaft mining, magnetic rakes, surface mining, mond process, others.
MARKET DYNAMICS
Drivers:
- Ongoing and upcoming space mining missions, growing private stakeholder investments in space mining companies
- Adoption of 3D printing technology in asteroid mining
- Increase in the number of government initiatives to draught regulations for asteroid mining
- Introduction of the In-Situ Resource Utilization (ISRU) practice in space exploration
Restraints:
- The high cost of mining techniques and legislation governing proprietary rights serve as a significant impediment to the growth of the asteroid mining industry
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), MEA, and SAM. The asteroid mining market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 17 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 marketduring 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 asteroid mining market in these regions
IMPACT OF COVID-19 on Asteroid Mining MARKET
The outbreak of the COVID-19 has severely impacted the space industry. The economic crisis caused due to COVID-19 pandemic and population containment might have reorganized the regional outlook, however, it affected space industry in a same way as all other industries. The postponement of launch schedules, halt in many satellite production lines and pause of private financing have jumbled the opportunities for emerging operators. Temporary closure of activities has also impacted space activities and had caused decline in the investment for exploring new areas in space. This factor has also create an adverse impact on asteroid mining acitivites.
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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), MEA, and SAM. The asteroid mining market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 17 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 marketduring 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 asteroid mining market in these regions
IMPACT OF COVID-19 on Asteroid Mining MARKET
The outbreak of the COVID-19 has severely impacted the space industry. The economic crisis caused due to COVID-19 pandemic and population containment might have reorganized the regional outlook, however, it affected space industry in a same way as all other industries. The postponement of launch schedules, halt in many satellite production lines and pause of private financing have jumbled the opportunities for emerging operators. Temporary closure of activities has also impacted space activities and had caused decline in the investment for exploring new areas in space. This factor has also create an adverse impact on asteroid mining acitivites.
MARKET PLAYERS
The report covers key developments in the asteroid mining 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 marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from asteroid mining market are anticipated to lucrative growth opportunities in the future with the rising demand for asteroid mining in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the asteroid mining 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.
- Asteroid Mining Corporation Limited
- Bradford
- iSpace, Inc
- Kleos Space
- Moon Express
- ConsenSys
- Spacefab.US
- Sierra Nevada Corporation
- Offworld
- Virgin Galactic
- 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 Asteroid Mining Market - By Phase
1.3.2 Asteroid Mining Market - By Asteroid Type
1.3.3 Asteroid Mining Market - By Extraction Technology
1.3.4 Asteroid Mining Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ASTEROID MINING 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. ASTEROID MINING 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. ASTEROID MINING MARKET - GLOBAL MARKET ANALYSIS
6.1. ASTEROID MINING - GLOBAL MARKET OVERVIEW
6.2. ASTEROID MINING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ASTEROID MINING MARKET - REVENUE AND FORECASTS TO 2028 - PHASE
7.1. OVERVIEW
7.2. PHASE MARKET FORECASTS AND ANALYSIS
7.3. SPACECRAFT DESIGN
7.3.1. Overview
7.3.2. Spacecraft Design Market Forecast and Analysis
7.4. LAUNCH
7.4.1. Overview
7.4.2. Launch Market Forecast and Analysis
7.5. OPERATION
7.5.1. Overview
7.5.2. Operation Market Forecast and Analysis
8. ASTEROID MINING MARKET - REVENUE AND FORECASTS TO 2028 - ASTEROID TYPE
8.1. OVERVIEW
8.2. ASTEROID TYPE MARKET FORECASTS AND ANALYSIS
8.3. TYPE C
8.3.1. Overview
8.3.2. Type C Market Forecast and Analysis
8.4. TYPE S
8.4.1. Overview
8.4.2. Type S Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. ASTEROID MINING MARKET - REVENUE AND FORECASTS TO 2028 - EXTRACTION TECHNOLOGY
9.1. OVERVIEW
9.2. EXTRACTION TECHNOLOGY MARKET FORECASTS AND ANALYSIS
9.3. SHAFT MINING
9.3.1. Overview
9.3.2. Shaft Mining Market Forecast and Analysis
9.4. MAGNETIC RAKES
9.4.1. Overview
9.4.2. Magnetic Rakes Market Forecast and Analysis
9.5. SURFACE MINING
9.5.1. Overview
9.5.2. Surface Mining Market Forecast and Analysis
9.6. MOND PROCESS
9.6.1. Overview
9.6.2. Mond Process Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. ASTEROID MINING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Asteroid Mining Market Overview
10.1.2 North America Asteroid Mining Market Forecasts and Analysis
10.1.3 North America Asteroid Mining Market Forecasts and Analysis - By Phase
10.1.4 North America Asteroid Mining Market Forecasts and Analysis - By Asteroid Type
10.1.5 North America Asteroid Mining Market Forecasts and Analysis - By Extraction Technology
10.1.6 North America Asteroid Mining Market Forecasts and Analysis - By Countries
10.1.6.1 United States Asteroid Mining Market
10.1.6.1.1 United States Asteroid Mining Market by Phase
10.1.6.1.2 United States Asteroid Mining Market by Asteroid Type
10.1.6.1.3 United States Asteroid Mining Market by Extraction Technology
10.1.6.2 Canada Asteroid Mining Market
10.1.6.2.1 Canada Asteroid Mining Market by Phase
10.1.6.2.2 Canada Asteroid Mining Market by Asteroid Type
10.1.6.2.3 Canada Asteroid Mining Market by Extraction Technology
10.1.6.3 Mexico Asteroid Mining Market
10.1.6.3.1 Mexico Asteroid Mining Market by Phase
10.1.6.3.2 Mexico Asteroid Mining Market by Asteroid Type
10.1.6.3.3 Mexico Asteroid Mining Market by Extraction Technology
10.2. EUROPE
10.2.1 Europe Asteroid Mining Market Overview
10.2.2 Europe Asteroid Mining Market Forecasts and Analysis
10.2.3 Europe Asteroid Mining Market Forecasts and Analysis - By Phase
10.2.4 Europe Asteroid Mining Market Forecasts and Analysis - By Asteroid Type
10.2.5 Europe Asteroid Mining Market Forecasts and Analysis - By Extraction Technology
10.2.6 Europe Asteroid Mining Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Asteroid Mining Market
10.2.6.1.1 Germany Asteroid Mining Market by Phase
10.2.6.1.2 Germany Asteroid Mining Market by Asteroid Type
10.2.6.1.3 Germany Asteroid Mining Market by Extraction Technology
10.2.6.2 France Asteroid Mining Market
10.2.6.2.1 France Asteroid Mining Market by Phase
10.2.6.2.2 France Asteroid Mining Market by Asteroid Type
10.2.6.2.3 France Asteroid Mining Market by Extraction Technology
10.2.6.3 Italy Asteroid Mining Market
10.2.6.3.1 Italy Asteroid Mining Market by Phase
10.2.6.3.2 Italy Asteroid Mining Market by Asteroid Type
10.2.6.3.3 Italy Asteroid Mining Market by Extraction Technology
10.2.6.4 United Kingdom Asteroid Mining Market
10.2.6.4.1 United Kingdom Asteroid Mining Market by Phase
10.2.6.4.2 United Kingdom Asteroid Mining Market by Asteroid Type
10.2.6.4.3 United Kingdom Asteroid Mining Market by Extraction Technology
10.2.6.5 Russia Asteroid Mining Market
10.2.6.5.1 Russia Asteroid Mining Market by Phase
10.2.6.5.2 Russia Asteroid Mining Market by Asteroid Type
10.2.6.5.3 Russia Asteroid Mining Market by Extraction Technology
10.2.6.6 Rest of Europe Asteroid Mining Market
10.2.6.6.1 Rest of Europe Asteroid Mining Market by Phase
10.2.6.6.2 Rest of Europe Asteroid Mining Market by Asteroid Type
10.2.6.6.3 Rest of Europe Asteroid Mining Market by Extraction Technology
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Asteroid Mining Market Overview
10.3.2 Asia-Pacific Asteroid Mining Market Forecasts and Analysis
10.3.3 Asia-Pacific Asteroid Mining Market Forecasts and Analysis - By Phase
10.3.4 Asia-Pacific Asteroid Mining Market Forecasts and Analysis - By Asteroid Type
10.3.5 Asia-Pacific Asteroid Mining Market Forecasts and Analysis - By Extraction Technology
10.3.6 Asia-Pacific Asteroid Mining Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Asteroid Mining Market
10.3.6.1.1 Australia Asteroid Mining Market by Phase
10.3.6.1.2 Australia Asteroid Mining Market by Asteroid Type
10.3.6.1.3 Australia Asteroid Mining Market by Extraction Technology
10.3.6.2 China Asteroid Mining Market
10.3.6.2.1 China Asteroid Mining Market by Phase
10.3.6.2.2 China Asteroid Mining Market by Asteroid Type
10.3.6.2.3 China Asteroid Mining Market by Extraction Technology
10.3.6.3 India Asteroid Mining Market
10.3.6.3.1 India Asteroid Mining Market by Phase
10.3.6.3.2 India Asteroid Mining Market by Asteroid Type
10.3.6.3.3 India Asteroid Mining Market by Extraction Technology
10.3.6.4 Japan Asteroid Mining Market
10.3.6.4.1 Japan Asteroid Mining Market by Phase
10.3.6.4.2 Japan Asteroid Mining Market by Asteroid Type
10.3.6.4.3 Japan Asteroid Mining Market by Extraction Technology
10.3.6.5 South Korea Asteroid Mining Market
10.3.6.5.1 South Korea Asteroid Mining Market by Phase
10.3.6.5.2 South Korea Asteroid Mining Market by Asteroid Type
10.3.6.5.3 South Korea Asteroid Mining Market by Extraction Technology
10.3.6.6 Rest of Asia-Pacific Asteroid Mining Market
10.3.6.6.1 Rest of Asia-Pacific Asteroid Mining Market by Phase
10.3.6.6.2 Rest of Asia-Pacific Asteroid Mining Market by Asteroid Type
10.3.6.6.3 Rest of Asia-Pacific Asteroid Mining Market by Extraction Technology
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Asteroid Mining Market Overview
10.4.2 Middle East and Africa Asteroid Mining Market Forecasts and Analysis
10.4.3 Middle East and Africa Asteroid Mining Market Forecasts and Analysis - By Phase
10.4.4 Middle East and Africa Asteroid Mining Market Forecasts and Analysis - By Asteroid Type
10.4.5 Middle East and Africa Asteroid Mining Market Forecasts and Analysis - By Extraction Technology
10.4.6 Middle East and Africa Asteroid Mining Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Asteroid Mining Market
10.4.6.1.1 South Africa Asteroid Mining Market by Phase
10.4.6.1.2 South Africa Asteroid Mining Market by Asteroid Type
10.4.6.1.3 South Africa Asteroid Mining Market by Extraction Technology
10.4.6.2 Saudi Arabia Asteroid Mining Market
10.4.6.2.1 Saudi Arabia Asteroid Mining Market by Phase
10.4.6.2.2 Saudi Arabia Asteroid Mining Market by Asteroid Type
10.4.6.2.3 Saudi Arabia Asteroid Mining Market by Extraction Technology
10.4.6.3 U.A.E Asteroid Mining Market
10.4.6.3.1 U.A.E Asteroid Mining Market by Phase
10.4.6.3.2 U.A.E Asteroid Mining Market by Asteroid Type
10.4.6.3.3 U.A.E Asteroid Mining Market by Extraction Technology
10.4.6.4 Rest of Middle East and Africa Asteroid Mining Market
10.4.6.4.1 Rest of Middle East and Africa Asteroid Mining Market by Phase
10.4.6.4.2 Rest of Middle East and Africa Asteroid Mining Market by Asteroid Type
10.4.6.4.3 Rest of Middle East and Africa Asteroid Mining Market by Extraction Technology
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Asteroid Mining Market Overview
10.5.2 South and Central America Asteroid Mining Market Forecasts and Analysis
10.5.3 South and Central America Asteroid Mining Market Forecasts and Analysis - By Phase
10.5.4 South and Central America Asteroid Mining Market Forecasts and Analysis - By Asteroid Type
10.5.5 South and Central America Asteroid Mining Market Forecasts and Analysis - By Extraction Technology
10.5.6 South and Central America Asteroid Mining Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Asteroid Mining Market
10.5.6.1.1 Brazil Asteroid Mining Market by Phase
10.5.6.1.2 Brazil Asteroid Mining Market by Asteroid Type
10.5.6.1.3 Brazil Asteroid Mining Market by Extraction Technology
10.5.6.2 Argentina Asteroid Mining Market
10.5.6.2.1 Argentina Asteroid Mining Market by Phase
10.5.6.2.2 Argentina Asteroid Mining Market by Asteroid Type
10.5.6.2.3 Argentina Asteroid Mining Market by Extraction Technology
10.5.6.3 Rest of South and Central America Asteroid Mining Market
10.5.6.3.1 Rest of South and Central America Asteroid Mining Market by Phase
10.5.6.3.2 Rest of South and Central America Asteroid Mining Market by Asteroid Type
10.5.6.3.3 Rest of South and Central America Asteroid Mining Market by Extraction Technology
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. ASTEROID MINING MARKET, KEY COMPANY PROFILES
12.1. ASTEROID MINING CORPORATION LIMITED
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. BRADFORD
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. ISPACE, INC
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. KLEOS SPACE
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. MOON EXPRESS
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. CONSENSYS
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. SPACEFAB.US
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. SIERRA NEVADA CORPORATION
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. OFFWORLD
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. VIRGIN GALACTIC
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. Asteroid Mining Corporation Limited
2. Bradford
3. iSpace, Inc
4. Kleos Space
5. Moon Express
6. ConsenSys
7. Spacefab.US
8. Sierra Nevada Corporation
9. Offworld
10. Virgin Galactic
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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