Automotive Glass Market Opportunities 2031
The Automotive Glass Market is expected to register a CAGR of 5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (Laminated Glass, Tempered Glass, Others). The report further presents analysis based on, Material (Tinted Glass, IR PVB, Metal Coated, Others). Based on Based on Vehicle Type report is segmented into (Passenger Vehicles, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles and Two Wheelers and Others) The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Automotive Glass 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.
Automotive Glass Market Segmentation
Type- Laminated Glass
- Tempered Glass
- Others
- Tinted Glass
- IR PVB
- Metal Coated
- Others
Strategic Insights
Automotive Glass Market Growth Drivers- Technological Advancements in Glass Features: The automotive glass market is being driven by innovations like heated, tinted, and smart glass technologies. These features enhance comfort, safety, and energy efficiency. For instance, electrochromic glass, which adjusts tint in response to sunlight, is becoming increasingly popular in high-end vehicles.
- Increased Vehicle Safety Standards: With the increasing focus on improving vehicle safety, the demand for laminated and tempered glass, which offer better impact resistance, is on the rise. Automotive glass manufacturers are integrating safety features like advanced driver-assistance systems (ADAS) into their products, further boosting market growth.
- Growing Preference for Electric and Autonomous Vehicles: The rise in electric and autonomous vehicles is contributing to the demand for advanced glass materials. For example, panoramic roofs, augmented reality displays, and self-healing glass are gaining popularity in electric and self-driving vehicles, driving the need for new types of automotive glass solutions.
- Increased Demand for Smart Glass Solutions: The automotive glass market is expected to see significant growth in the coming years with the adoption of smart glass technologies. These innovations include electrochromic and photochromic glass, which change tint in response to light levels, enhancing comfort, privacy, and energy efficiency for vehicle occupants.
- Integration of Advanced Driver Assistance Systems (ADAS): As ADAS technologies become more prevalent in vehicles, automotive glass will increasingly incorporate sensors, cameras, and heads-up display systems. This trend will lead to a rise in demand for specialized glass solutions that integrate seamlessly with ADAS technologies to improve vehicle safety and driver experience.
- Growth of Lightweight and Fuel-Efficient Glass: In response to the growing demand for energy-efficient vehicles, the use of lightweight glass materials that contribute to overall vehicle weight reduction is expected to rise. These materials will not only enhance fuel efficiency but also improve overall vehicle performance and reduce emissions.
- Growth of Smart Glass Technologies: Automotive glass with integrated technologies such as self-dimming, touch sensors, and heads-up displays offers significant market opportunities. The increasing adoption of smart glass, especially in luxury and electric vehicles, is driving the demand for advanced automotive glass solutions that improve comfort, safety, and the overall driving experience.
- Rise in Demand for Safety and Performance Glass: With rising vehicle safety standards and consumer expectations for better protection, the demand for automotive glass that incorporates features such as laminated safety glass, shatterproof glass, and UV protection is increasing. This presents opportunities for companies to develop advanced glass solutions that meet these evolving needs.
- Expansion in Emerging Markets: The automotive glass market is set to grow significantly in emerging economies where vehicle production and ownership are increasing. As infrastructure improves and disposable income rises, there will be a growing demand for higher-quality automotive glass, including energy-efficient and durable glass solutions for mid-range and premium vehicles.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automotive Glass 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 Automotive Glass 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
This text is related
to country scope.
Frequently Asked Questions
The Automotive Glass Market is estimated to witness a CAGR of 5% from 2023 to 2031
Technological advancements in glass features is driving the automotive glass market growth.
AGC Inc, Corning Incorporated, Fuyao Glass Industry Group Co. Ltd, Gentex Corporation, Guardian Industries, Nippon Sheet Glass Co., Ltd are some of the key players operating in the automotive glass market
Based on type, tempered glass segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the automotive glass market due to the well-established automotive industry across the region
Increased demand for smart glass solutions is expected to be the key market trends.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automotive Glass Market - By Type
1.3.2 Automotive Glass Market - By Material
1.3.3 Automotive Glass Market - By Vehicle Type
1.3.4 Automotive Glass Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE GLASS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AUTOMOTIVE GLASS 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. AUTOMOTIVE GLASS MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE GLASS - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE GLASS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE GLASS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. LAMINATED GLASS
7.3.1. Overview
7.3.2. Laminated Glass Market Forecast and Analysis
7.4. TEMPERED GLASS
7.4.1. Overview
7.4.2. Tempered Glass Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. AUTOMOTIVE GLASS MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
8.1. OVERVIEW
8.2. MATERIAL MARKET FORECASTS AND ANALYSIS
8.3. TINTED GLASS
8.3.1. Overview
8.3.2. Tinted Glass Market Forecast and Analysis
8.4. IR PVB
8.4.1. Overview
8.4.2. IR PVB Market Forecast and Analysis
8.5. METAL COATED
8.5.1. Overview
8.5.2. Metal Coated Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. AUTOMOTIVE GLASS MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
9.1. OVERVIEW
9.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
9.3. PASSENGER CARS
9.3.1. Overview
9.3.2. Passenger Cars Market Forecast and Analysis
9.4. COMMERCIAL VEHICLES
9.4.1. Overview
9.4.2. Commercial Vehicles Market Forecast and Analysis
10. AUTOMOTIVE GLASS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Automotive Glass Market Overview
10.1.2 North America Automotive Glass Market Forecasts and Analysis
10.1.3 North America Automotive Glass Market Forecasts and Analysis - By Type
10.1.4 North America Automotive Glass Market Forecasts and Analysis - By Material
10.1.5 North America Automotive Glass Market Forecasts and Analysis - By Vehicle Type
10.1.6 North America Automotive Glass Market Forecasts and Analysis - By Countries
10.1.6.1 United States Automotive Glass Market
10.1.6.1.1 United States Automotive Glass Market by Type
10.1.6.1.2 United States Automotive Glass Market by Material
10.1.6.1.3 United States Automotive Glass Market by Vehicle Type
10.1.6.2 Canada Automotive Glass Market
10.1.6.2.1 Canada Automotive Glass Market by Type
10.1.6.2.2 Canada Automotive Glass Market by Material
10.1.6.2.3 Canada Automotive Glass Market by Vehicle Type
10.1.6.3 Mexico Automotive Glass Market
10.1.6.3.1 Mexico Automotive Glass Market by Type
10.1.6.3.2 Mexico Automotive Glass Market by Material
10.1.6.3.3 Mexico Automotive Glass Market by Vehicle Type
10.2. EUROPE
10.2.1 Europe Automotive Glass Market Overview
10.2.2 Europe Automotive Glass Market Forecasts and Analysis
10.2.3 Europe Automotive Glass Market Forecasts and Analysis - By Type
10.2.4 Europe Automotive Glass Market Forecasts and Analysis - By Material
10.2.5 Europe Automotive Glass Market Forecasts and Analysis - By Vehicle Type
10.2.6 Europe Automotive Glass Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Automotive Glass Market
10.2.6.1.1 Germany Automotive Glass Market by Type
10.2.6.1.2 Germany Automotive Glass Market by Material
10.2.6.1.3 Germany Automotive Glass Market by Vehicle Type
10.2.6.2 France Automotive Glass Market
10.2.6.2.1 France Automotive Glass Market by Type
10.2.6.2.2 France Automotive Glass Market by Material
10.2.6.2.3 France Automotive Glass Market by Vehicle Type
10.2.6.3 Italy Automotive Glass Market
10.2.6.3.1 Italy Automotive Glass Market by Type
10.2.6.3.2 Italy Automotive Glass Market by Material
10.2.6.3.3 Italy Automotive Glass Market by Vehicle Type
10.2.6.4 United Kingdom Automotive Glass Market
10.2.6.4.1 United Kingdom Automotive Glass Market by Type
10.2.6.4.2 United Kingdom Automotive Glass Market by Material
10.2.6.4.3 United Kingdom Automotive Glass Market by Vehicle Type
10.2.6.5 Russia Automotive Glass Market
10.2.6.5.1 Russia Automotive Glass Market by Type
10.2.6.5.2 Russia Automotive Glass Market by Material
10.2.6.5.3 Russia Automotive Glass Market by Vehicle Type
10.2.6.6 Rest of Europe Automotive Glass Market
10.2.6.6.1 Rest of Europe Automotive Glass Market by Type
10.2.6.6.2 Rest of Europe Automotive Glass Market by Material
10.2.6.6.3 Rest of Europe Automotive Glass Market by Vehicle Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Automotive Glass Market Overview
10.3.2 Asia-Pacific Automotive Glass Market Forecasts and Analysis
10.3.3 Asia-Pacific Automotive Glass Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Automotive Glass Market Forecasts and Analysis - By Material
10.3.5 Asia-Pacific Automotive Glass Market Forecasts and Analysis - By Vehicle Type
10.3.6 Asia-Pacific Automotive Glass Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Automotive Glass Market
10.3.6.1.1 Australia Automotive Glass Market by Type
10.3.6.1.2 Australia Automotive Glass Market by Material
10.3.6.1.3 Australia Automotive Glass Market by Vehicle Type
10.3.6.2 China Automotive Glass Market
10.3.6.2.1 China Automotive Glass Market by Type
10.3.6.2.2 China Automotive Glass Market by Material
10.3.6.2.3 China Automotive Glass Market by Vehicle Type
10.3.6.3 India Automotive Glass Market
10.3.6.3.1 India Automotive Glass Market by Type
10.3.6.3.2 India Automotive Glass Market by Material
10.3.6.3.3 India Automotive Glass Market by Vehicle Type
10.3.6.4 Japan Automotive Glass Market
10.3.6.4.1 Japan Automotive Glass Market by Type
10.3.6.4.2 Japan Automotive Glass Market by Material
10.3.6.4.3 Japan Automotive Glass Market by Vehicle Type
10.3.6.5 South Korea Automotive Glass Market
10.3.6.5.1 South Korea Automotive Glass Market by Type
10.3.6.5.2 South Korea Automotive Glass Market by Material
10.3.6.5.3 South Korea Automotive Glass Market by Vehicle Type
10.3.6.6 Rest of Asia-Pacific Automotive Glass Market
10.3.6.6.1 Rest of Asia-Pacific Automotive Glass Market by Type
10.3.6.6.2 Rest of Asia-Pacific Automotive Glass Market by Material
10.3.6.6.3 Rest of Asia-Pacific Automotive Glass Market by Vehicle Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Automotive Glass Market Overview
10.4.2 Middle East and Africa Automotive Glass Market Forecasts and Analysis
10.4.3 Middle East and Africa Automotive Glass Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Automotive Glass Market Forecasts and Analysis - By Material
10.4.5 Middle East and Africa Automotive Glass Market Forecasts and Analysis - By Vehicle Type
10.4.6 Middle East and Africa Automotive Glass Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Automotive Glass Market
10.4.6.1.1 South Africa Automotive Glass Market by Type
10.4.6.1.2 South Africa Automotive Glass Market by Material
10.4.6.1.3 South Africa Automotive Glass Market by Vehicle Type
10.4.6.2 Saudi Arabia Automotive Glass Market
10.4.6.2.1 Saudi Arabia Automotive Glass Market by Type
10.4.6.2.2 Saudi Arabia Automotive Glass Market by Material
10.4.6.2.3 Saudi Arabia Automotive Glass Market by Vehicle Type
10.4.6.3 U.A.E Automotive Glass Market
10.4.6.3.1 U.A.E Automotive Glass Market by Type
10.4.6.3.2 U.A.E Automotive Glass Market by Material
10.4.6.3.3 U.A.E Automotive Glass Market by Vehicle Type
10.4.6.4 Rest of Middle East and Africa Automotive Glass Market
10.4.6.4.1 Rest of Middle East and Africa Automotive Glass Market by Type
10.4.6.4.2 Rest of Middle East and Africa Automotive Glass Market by Material
10.4.6.4.3 Rest of Middle East and Africa Automotive Glass Market by Vehicle Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Automotive Glass Market Overview
10.5.2 South and Central America Automotive Glass Market Forecasts and Analysis
10.5.3 South and Central America Automotive Glass Market Forecasts and Analysis - By Type
10.5.4 South and Central America Automotive Glass Market Forecasts and Analysis - By Material
10.5.5 South and Central America Automotive Glass Market Forecasts and Analysis - By Vehicle Type
10.5.6 South and Central America Automotive Glass Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Automotive Glass Market
10.5.6.1.1 Brazil Automotive Glass Market by Type
10.5.6.1.2 Brazil Automotive Glass Market by Material
10.5.6.1.3 Brazil Automotive Glass Market by Vehicle Type
10.5.6.2 Argentina Automotive Glass Market
10.5.6.2.1 Argentina Automotive Glass Market by Type
10.5.6.2.2 Argentina Automotive Glass Market by Material
10.5.6.2.3 Argentina Automotive Glass Market by Vehicle Type
10.5.6.3 Rest of South and Central America Automotive Glass Market
10.5.6.3.1 Rest of South and Central America Automotive Glass Market by Type
10.5.6.3.2 Rest of South and Central America Automotive Glass Market by Material
10.5.6.3.3 Rest of South and Central America Automotive Glass Market by Vehicle 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. AUTOMOTIVE GLASS MARKET, KEY COMPANY PROFILES
12.1. AGC INC
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. CORNING INCORPORATED
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. FUYAO GLASS INDUSTRY GROUP CO. 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. GENTEX CORPORATION
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. GUARDIAN INDUSTRIES
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. NIPPON SHEET GLASS CO., LTD
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. SAINT-GOBAIN SEKURIT
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. SISECAM GROUP
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. VITRO SAB DE CV
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. XINYI GLASS HOLDINGS LTD.
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
The List of Companies
1.AGC Inc
2.Corning Incorporated
3.Fuyao Glass Industry Group Co. Ltd
4.Gentex Corporation
5.Guardian Industries
6.Nippon Sheet Glass Co., Ltd
7.Saint-Gobain Sekurit
8.Sisecam Group
9.Vitro SAB de CV
10.Xinyi Glass Holdings Ltd.
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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