Automotive Upholstery Market Dynamics 2021-2031
The automotive upholstery market is expected to register a CAGR of 5.1% during 2023–2031. The evolution of advanced technologies and the introduction of high-end vehicles is likely to remain a key trend in the market.
Automotive Upholstery Market Analysis
- The growth of the automotive upholstery market is driven by factors such as increased vehicle production, consumer demand for comfort, and customized automotive interiors.
- Additionally, the growing adoption of autonomous vehicles in developed nations is anticipated to have a positive effect on the automotive upholstery market.
- Furthermore, it is expected the enormous spending power of end users in developing nations will create a huge demand for automobiles, which will ultimately fuel the automotive upholstery market's growth.
- Moreover, the government's strict laws and regulations aimed at reducing emissions, along with the fluctuating prices of raw materials, will impede the global automotive upholstery market's expansion.
Automotive Upholstery Market Overview
- Automotive upholstery refers to the materials, fabrics, and coverings used to provide style, comfort, and security to the interiors of cars, trucks, and motorcycles. For the interior surfaces of a car, such as the carpets, door panels, headliners, seats, and other interior elements, it involves selecting, creating, and installing the appropriate materials.
- One of the most crucial elements is the seat upholstery. The selection of materials for the padding, seat coverings, and occasionally extra features such as heating or ventilation components is involved.
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Automotive Upholstery Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Automotive Upholstery Market: Strategic Insights
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Automotive Upholstery Market Drivers and Opportunities
Increasing Automobile Production to Favor the Market
- Global population growth and increasing disposable income are driving up demand for automobiles, which is prompting major manufacturers to increase automobile production.
- To ensure a successful and comprehensive interior design process, the production of new vehicles necessitates the use of appropriate automotive upholstery materials. Therefore, the market for automotive upholstery is growing proportionately due to the increasing demand for vehicles around the world, which is being driven by growth in GDP and the economies of several regions that have raised people's disposable incomes.
- Whereas EVs are more environmentally friendly and sustainable than internal combustion engine (ICE) vehicles, governments around the world are adopting EVs at a rapid pace, which is fueling the growth of the automotive upholstery market.
- Special automotive upholstery components designed to meet the unique needs of EVs and AVs are expected to drive this growth.
Development of Sustainable and Eco-friendly Coverings
- Urbanization, rising disposable income in developing markets, and technological advancements and performance are driving a significant shift in the automotive industry's growth.
- The creation of environmentally friendly and sustainable automobile coverings provides an opportunity for the market to expand its revenue. As compared to traditionally used fibers, plant-based woven textiles offer many more advantages, as demonstrated by advancements in automotive coating materials.
- The market's revenue growth is anticipated to rise due to advancements in lighter materials that require significantly less stitching.
- Moreover, lighter covering materials will result in higher fuel efficiency. The need for the product would rise even more if materials that are warmer in the winter and colder in the summer were produced because of the drastic temperature swings.
- Additionally, preparing seat coverings made of stretchy material will allow them to improve comfort.
- Furthermore, the growing demand for ventilated and smart seats in high-end vehicles is also boosting the demand for automotive upholstery.
Automotive Upholstery Market Report Segmentation Analysis
Key segments that contributed to the derivation of the automotive upholstery market analysis are integrated technology and vehicle type.
- Based on integrated technology, the automotive upholstery market is divided into conventional seats, smart seats, and ventilated seats.
- Based on vehicle type, the automotive upholstery market is divided into light-duty vehicles and heavy-duty vehicles.
Automotive Upholstery Market Share Analysis by Geography
- The automotive upholstery market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive upholstery market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive upholstery market in these regions.
Automotive Upholstery Market Report Scope
Automotive Upholstery Market News and Recent Developments
The automotive upholstery market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive upholstery market are listed below:
- BASF introduces a new Ultramid® Deep Gloss grade, optimized for highly glossy automotive interior parts, and applied for the first time to the garnish of Toyota‘s new Prius. The mold-in-color technology used to produce the new grade is more sustainable, as it improves the production efficiency of automotive parts since the solvent painting process is eliminated. Instead, pre-colored plastic resins are converted into molded parts directly and into the chosen color and finish. (Source: BASF, Press Release, March 2023)
- Lear Corporation, a global automotive technology leader in Seating and E-Systems, today announced the company’s premium and fully recyclable ReNewKnit sueded material will launch in seating and door panel applications with a global automaker in 2024. ReNewKnit is a Lear exclusive, first-to-market automotive textile that is fully recyclable at its end of life. Manufactured solely with recycled materials at Lear facilities using 100% renewable electricity, ReNewKnit™ further strengthens the company’s sustainable solutions technology portfolio while supporting our carbon reduction goals. (Source: Lear Corporation, Press Release, October 2022).
Automotive Upholstery Market Report Coverage and Deliverables
The “Automotive Upholstery Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive upholstery market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive upholstery market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Automotive upholstery market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the automotive upholstery market
- Detailed company profiles
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 global automotive upholstery market is expected to grow at a CAGR of 5.1% during the forecast period 2023 - 2031.
The rapid technological advancement in the automotive sector is one of the major factors driving the automotive upholstery market.
An increase in sales of high-end vehicles is anticipated to play a significant role in the global automotive upholstery market in the coming years.
The leading players operating in the automotive upholstery market are Acme Mills Company, Adient PLC, FORVIA, The Haartz Corporation, Lear Corporation, MARTUR FOMPAK International, Sage Automotive Interiors, Seiren Co., Ltd., and Toyota Boshoku Corporation.
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
Some of the customization options available based on request are 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.
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 Upholstery Market - By Integrated Technology
1.3.2 Automotive Upholstery Market - By Vehicle Type
1.3.3 Automotive Upholstery Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE UPHOLSTERY 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. AUTOMOTIVE UPHOLSTERY 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. AUTOMOTIVE UPHOLSTERY MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE UPHOLSTERY - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE UPHOLSTERY - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE UPHOLSTERY MARKET - REVENUE AND FORECASTS TO 2027 - INTEGRATED TECHNOLOGY
7.1. OVERVIEW
7.2. INTEGRATED TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. CONVENTIONAL SEATS
7.3.1. Overview
7.3.2. Conventional Seats Market Forecast and Analysis
7.4. SMART SEATS
7.4.1. Overview
7.4.2. Smart Seats Market Forecast and Analysis
7.5. VENTILATED SEATS
7.5.1. Overview
7.5.2. Ventilated Seats Market Forecast and Analysis
8. AUTOMOTIVE UPHOLSTERY MARKET - REVENUE AND FORECASTS TO 2027 - VEHICLE TYPE
8.1. OVERVIEW
8.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
8.3. LIGHT DUTY VEHICLE
8.3.1. Overview
8.3.2. Light Duty Vehicle Market Forecast and Analysis
8.4. HEAVY DUTY VEHICLE
8.4.1. Overview
8.4.2. Heavy Duty Vehicle Market Forecast and Analysis
9. AUTOMOTIVE UPHOLSTERY MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Automotive Upholstery Market Overview
9.1.2 North America Automotive Upholstery Market Forecasts and Analysis
9.1.3 North America Automotive Upholstery Market Forecasts and Analysis - By Integrated Technology
9.1.4 North America Automotive Upholstery Market Forecasts and Analysis - By Vehicle Type
9.1.5 North America Automotive Upholstery Market Forecasts and Analysis - By Countries
9.1.5.1 United States Automotive Upholstery Market
9.1.5.1.1 United States Automotive Upholstery Market by Integrated Technology
9.1.5.1.2 United States Automotive Upholstery Market by Vehicle Type
9.1.5.2 Canada Automotive Upholstery Market
9.1.5.2.1 Canada Automotive Upholstery Market by Integrated Technology
9.1.5.2.2 Canada Automotive Upholstery Market by Vehicle Type
9.1.5.3 Mexico Automotive Upholstery Market
9.1.5.3.1 Mexico Automotive Upholstery Market by Integrated Technology
9.1.5.3.2 Mexico Automotive Upholstery Market by Vehicle Type
9.2. EUROPE
9.2.1 Europe Automotive Upholstery Market Overview
9.2.2 Europe Automotive Upholstery Market Forecasts and Analysis
9.2.3 Europe Automotive Upholstery Market Forecasts and Analysis - By Integrated Technology
9.2.4 Europe Automotive Upholstery Market Forecasts and Analysis - By Vehicle Type
9.2.5 Europe Automotive Upholstery Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Automotive Upholstery Market
9.2.5.1.1 Germany Automotive Upholstery Market by Integrated Technology
9.2.5.1.2 Germany Automotive Upholstery Market by Vehicle Type
9.2.5.2 France Automotive Upholstery Market
9.2.5.2.1 France Automotive Upholstery Market by Integrated Technology
9.2.5.2.2 France Automotive Upholstery Market by Vehicle Type
9.2.5.3 Italy Automotive Upholstery Market
9.2.5.3.1 Italy Automotive Upholstery Market by Integrated Technology
9.2.5.3.2 Italy Automotive Upholstery Market by Vehicle Type
9.2.5.4 United Kingdom Automotive Upholstery Market
9.2.5.4.1 United Kingdom Automotive Upholstery Market by Integrated Technology
9.2.5.4.2 United Kingdom Automotive Upholstery Market by Vehicle Type
9.2.5.5 Russia Automotive Upholstery Market
9.2.5.5.1 Russia Automotive Upholstery Market by Integrated Technology
9.2.5.5.2 Russia Automotive Upholstery Market by Vehicle Type
9.2.5.6 Rest of Europe Automotive Upholstery Market
9.2.5.6.1 Rest of Europe Automotive Upholstery Market by Integrated Technology
9.2.5.6.2 Rest of Europe Automotive Upholstery Market by Vehicle Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Automotive Upholstery Market Overview
9.3.2 Asia-Pacific Automotive Upholstery Market Forecasts and Analysis
9.3.3 Asia-Pacific Automotive Upholstery Market Forecasts and Analysis - By Integrated Technology
9.3.4 Asia-Pacific Automotive Upholstery Market Forecasts and Analysis - By Vehicle Type
9.3.5 Asia-Pacific Automotive Upholstery Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Automotive Upholstery Market
9.3.5.1.1 Australia Automotive Upholstery Market by Integrated Technology
9.3.5.1.2 Australia Automotive Upholstery Market by Vehicle Type
9.3.5.2 China Automotive Upholstery Market
9.3.5.2.1 China Automotive Upholstery Market by Integrated Technology
9.3.5.2.2 China Automotive Upholstery Market by Vehicle Type
9.3.5.3 India Automotive Upholstery Market
9.3.5.3.1 India Automotive Upholstery Market by Integrated Technology
9.3.5.3.2 India Automotive Upholstery Market by Vehicle Type
9.3.5.4 Japan Automotive Upholstery Market
9.3.5.4.1 Japan Automotive Upholstery Market by Integrated Technology
9.3.5.4.2 Japan Automotive Upholstery Market by Vehicle Type
9.3.5.5 South Korea Automotive Upholstery Market
9.3.5.5.1 South Korea Automotive Upholstery Market by Integrated Technology
9.3.5.5.2 South Korea Automotive Upholstery Market by Vehicle Type
9.3.5.6 Rest of Asia-Pacific Automotive Upholstery Market
9.3.5.6.1 Rest of Asia-Pacific Automotive Upholstery Market by Integrated Technology
9.3.5.6.2 Rest of Asia-Pacific Automotive Upholstery Market by Vehicle Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Automotive Upholstery Market Overview
9.4.2 Middle East and Africa Automotive Upholstery Market Forecasts and Analysis
9.4.3 Middle East and Africa Automotive Upholstery Market Forecasts and Analysis - By Integrated Technology
9.4.4 Middle East and Africa Automotive Upholstery Market Forecasts and Analysis - By Vehicle Type
9.4.5 Middle East and Africa Automotive Upholstery Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Automotive Upholstery Market
9.4.5.1.1 South Africa Automotive Upholstery Market by Integrated Technology
9.4.5.1.2 South Africa Automotive Upholstery Market by Vehicle Type
9.4.5.2 Saudi Arabia Automotive Upholstery Market
9.4.5.2.1 Saudi Arabia Automotive Upholstery Market by Integrated Technology
9.4.5.2.2 Saudi Arabia Automotive Upholstery Market by Vehicle Type
9.4.5.3 U.A.E Automotive Upholstery Market
9.4.5.3.1 U.A.E Automotive Upholstery Market by Integrated Technology
9.4.5.3.2 U.A.E Automotive Upholstery Market by Vehicle Type
9.4.5.4 Rest of Middle East and Africa Automotive Upholstery Market
9.4.5.4.1 Rest of Middle East and Africa Automotive Upholstery Market by Integrated Technology
9.4.5.4.2 Rest of Middle East and Africa Automotive Upholstery Market by Vehicle Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Automotive Upholstery Market Overview
9.5.2 South and Central America Automotive Upholstery Market Forecasts and Analysis
9.5.3 South and Central America Automotive Upholstery Market Forecasts and Analysis - By Integrated Technology
9.5.4 South and Central America Automotive Upholstery Market Forecasts and Analysis - By Vehicle Type
9.5.5 South and Central America Automotive Upholstery Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Automotive Upholstery Market
9.5.5.1.1 Brazil Automotive Upholstery Market by Integrated Technology
9.5.5.1.2 Brazil Automotive Upholstery Market by Vehicle Type
9.5.5.2 Argentina Automotive Upholstery Market
9.5.5.2.1 Argentina Automotive Upholstery Market by Integrated Technology
9.5.5.2.2 Argentina Automotive Upholstery Market by Vehicle Type
9.5.5.3 Rest of South and Central America Automotive Upholstery Market
9.5.5.3.1 Rest of South and Central America Automotive Upholstery Market by Integrated Technology
9.5.5.3.2 Rest of South and Central America Automotive Upholstery Market by Vehicle Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. AUTOMOTIVE UPHOLSTERY MARKET, KEY COMPANY PROFILES
11.1. ACME MILLS COMPANY
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ADIENT PLC
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BORGERS SE
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. FAURECIA S.A.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. THE HAARTZ CORPORATION
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. LEAR CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. MARTUR FOMPAK INTERNATIONAL
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SAGE AUTOMOTIVE INTERIORS
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SEIREN CO., LTD.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TOYOTA BOSHOKU CORPORATION
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Acme Mills Company
2. Adient PLC
3. Borgers SE
4. Faurecia S.A.
5. The Haartz Corporation
6. Lear Corporation
7. MARTUR FOMPAK International
8. Sage Automotive Interiors
9. Seiren Co., Ltd.
10. Toyota Boshoku Corporation
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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