Autonomous Tractor Market Updates by 2031
The autonomous tractor market is expected to register a CAGR of 18.5% during 2023–2031. The rising advancement of remote control-based tractors is the key future trend in the global market in the coming years.
Autonomous Tractor Market Analysis
- Automation in the agriculture sector is transforming the industry owing to increasing investment in research and development by the key players in the market. Automation in agriculture is providing efficiency and accuracy in farm operations. The market for autonomous tractors is growing significantly as they operate continuously and confirm task completion on time. Autonomous tractors are efficient in reducing operating costs. Demand for autonomous is increasing owing to its multifunctionality, efficient, and productive results.
- The key players are adopting several strategies, including new product launches, mergers, acquisitions, and partnerships, to diversify their offerings and grow their presence in the agriculture industry. For instance,
- August 2023: Mahindra Tractors launched revolutionary lightweight four-wheel drive tractors for the Indian market. The company launched 7 models with advanced technologies, such as MYOJA Intelligence Packs, PROJA with Productivity Pack, and ROBOJA with Automation Pack.
Autonomous Tractor Market Overview
- An autonomous tractor is an agricultural vehicle that can perform its tasks without direct human intervention. The adoption of autonomous tractors has resulted in better farming productivity as they can complete chores more effectively and efficiently. With the help of these tractors, operating costs can be reduced. The autonomous tractor market is expected to grow significantly with the adoption of technological innovations such as IoT, artificial intelligence (AI), and others.
- Leading brands, such as John Deere, are planning to introduce autonomous tractors in collaboration with Bear Flag Robotics and Monarch Tractor.
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.
Autonomous Tractor Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
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.
Autonomous Tractor Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Autonomous Tractor Market Drivers and Opportunities
An increase in government investment in the agriculture sector across the globe drives market growth.
- The growth of the autonomous tractor market is attributed to the rapid agriculture sector and increasing government programs to fund agriculture developments in India. The Indian government launched several schemes and programs such as Pradhan Mantri Kisan Samman Nidhi, Pradhan Mantri Fasal Bima Yojana (PMFBY), Modified Interest Subvention Scheme, Agriculture Infrastructure Fund, Rashtriya Krishi Vikas Yojana and many others for the rural development. Such government schemes help to promote agriculture development in India. With increasing government funding, the farmers in India are investing in adopting advanced farm equipment and vehicles such as tractors and other farming equipment which ultimately drives the India autonomous tractor market growth during the forecast period.
Development of advanced technology-based tractors across the globe drives market growth.
- An autonomous tractor is to be used as fertilizers, pesticides, and irrigation. It helps in reducing waste and minimizes the environmental impact of agriculture. With integration of AI in the system will provide significant data, which would help in increasing precision and enable further land use optimization. IoT enables tractors equipped with advanced sensors, GPS, and internet connectivity, creating an opportunity for the autonomous tractor market.
Autonomous Tractor Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Autonomous Tractor market analysis are product type and vehicle type.
- Based on technology, the global market is divided into GPS guidance, sensor-based, and remote control.
- Depending upon the automation, the market is segmented into fully autonomous and semi-autonomous.
- Based on application, the market is segmented into harvesting, tillage, planting & seeding, and others.
Autonomous Tractor Market Share Analysis by Geography
- The Autonomous Tractor 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 autonomous tractor 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 Autonomous Tractor market in these regions.
Autonomous Tractor Market Report Scope
Autonomous Tractor Market News and Recent Developments
The Autonomous Tractor 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 Autonomous Tractor market are listed below:
- During a press conference at CES 2022, John Deere revealed a fully autonomous tractor that's ready for large-scale production. The machine combines Deere's 8R tractor, TruSet-enabled chisel plow, GPS guidance system, and new advanced technologies. The autonomous tractor will be available to farmers later this year. The autonomous tractor serves a specific purpose: feeding the world. (Source: John Deere, Company Website, January 2022)
- John Deere, Kinze Manufacturing, and Ag Leader Technology announced a collaboration agreement that will make it easier for farmers to integrate each company’s equipment and technology solutions into their farming operations. (Source: Kinze Manufacturing, News and PR, March 2024)
- Trimble to Provide Advanced Positioning Systems to Sabanto for Enhanced Autonomous Tractor Performance. Trimble and Sabanto have announced the integration of Trimble BX992 Dual Antenna GNSS receivers with Trimble CenterPointⓇ RTX into Sabanto’s autonomy solutions. Trimble will act as Sabanto’s key autonomous technology provider, delivering high-accuracy positioning to its fleet. (Source: Trimble, News Release, December 2023)
Autonomous Tractor Market Report Coverage and Deliverables
The “Autonomous Tractor Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Autonomous tractor market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Autonomous tractor market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Autonomous tractor 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 for the Autonomous Tractor 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 autonomous tractor market is expected to grow at a CAGR of 18.5% during the forecast period 2023 - 2031.
The increasing government investment in the agriculture sector with increasing production of tractors are the major factors driving the autonomous tractor market.
`The rising advancement of remote control-based tractors is the key future trend in the global market in the coming years.
The leading players operating in the Autonomous Tractor market include AGCO Corporation, CNH Industrial N.V., Mahindra & Mahindra Ltd., Deere & Company, Kubota Corporation, Yanmar Holdings Co., Ltd., AB Volvo, PACCAR Inc., Navistar, Inc., Embark Carss, Inc., PlusAI, Inc., Kodiak Robotics, and others.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and a 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 Autonomous Tractor Market - By Components
1.3.2 Autonomous Tractor Market - By Application
1.3.3 Autonomous Tractor Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. AUTONOMOUS TRACTOR 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. AUTONOMOUS TRACTOR 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. AUTONOMOUS TRACTOR MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTONOMOUS TRACTOR - GLOBAL MARKET OVERVIEW
6.2. AUTONOMOUS TRACTOR - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTONOMOUS TRACTOR MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENTS
7.1. OVERVIEW
7.2. COMPONENTS MARKET FORECASTS AND ANALYSIS
7.3. VISION SYSTEM
7.3.1. Overview
7.3.2. Vision system Market Forecast and Analysis
7.4. SENSORS
7.4.1. Overview
7.4.2. Sensors Market Forecast and Analysis
7.5. GLOBAL POSITIONING SYSTEM
7.5.1. Overview
7.5.2. Global Positioning System Market Forecast and Analysis
8. AUTONOMOUS TRACTOR MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. TILLAGE
8.3.1. Overview
8.3.2. Tillage Market Forecast and Analysis
8.4. HARVESTING
8.4.1. Overview
8.4.2. Harvesting Market Forecast and Analysis
8.5. SEED SOWING
8.5.1. Overview
8.5.2. Seed Sowing Market Forecast and Analysis
8.6. IRRIAGTION
8.6.1. Overview
8.6.2. Irriagtion Market Forecast and Analysis
8.7. SPRAYING
8.7.1. Overview
8.7.2. Spraying Market Forecast and Analysis
8.8. FERTILIZING
8.8.1. Overview
8.8.2. Fertilizing Market Forecast and Analysis
9. AUTONOMOUS TRACTOR MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Autonomous Tractor Market Overview
9.1.2 North America Autonomous Tractor Market Forecasts and Analysis
9.1.3 North America Autonomous Tractor Market Forecasts and Analysis - By Components
9.1.4 North America Autonomous Tractor Market Forecasts and Analysis - By Application
9.1.5 North America Autonomous Tractor Market Forecasts and Analysis - By Countries
9.1.5.1 United States Autonomous Tractor Market
9.1.5.1.1 United States Autonomous Tractor Market by Components
9.1.5.1.2 United States Autonomous Tractor Market by Application
9.1.5.2 Canada Autonomous Tractor Market
9.1.5.2.1 Canada Autonomous Tractor Market by Components
9.1.5.2.2 Canada Autonomous Tractor Market by Application
9.1.5.3 Mexico Autonomous Tractor Market
9.1.5.3.1 Mexico Autonomous Tractor Market by Components
9.1.5.3.2 Mexico Autonomous Tractor Market by Application
9.2. EUROPE
9.2.1 Europe Autonomous Tractor Market Overview
9.2.2 Europe Autonomous Tractor Market Forecasts and Analysis
9.2.3 Europe Autonomous Tractor Market Forecasts and Analysis - By Components
9.2.4 Europe Autonomous Tractor Market Forecasts and Analysis - By Application
9.2.5 Europe Autonomous Tractor Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Autonomous Tractor Market
9.2.5.1.1 Germany Autonomous Tractor Market by Components
9.2.5.1.2 Germany Autonomous Tractor Market by Application
9.2.5.2 France Autonomous Tractor Market
9.2.5.2.1 France Autonomous Tractor Market by Components
9.2.5.2.2 France Autonomous Tractor Market by Application
9.2.5.3 Italy Autonomous Tractor Market
9.2.5.3.1 Italy Autonomous Tractor Market by Components
9.2.5.3.2 Italy Autonomous Tractor Market by Application
9.2.5.4 United Kingdom Autonomous Tractor Market
9.2.5.4.1 United Kingdom Autonomous Tractor Market by Components
9.2.5.4.2 United Kingdom Autonomous Tractor Market by Application
9.2.5.5 Russia Autonomous Tractor Market
9.2.5.5.1 Russia Autonomous Tractor Market by Components
9.2.5.5.2 Russia Autonomous Tractor Market by Application
9.2.5.6 Rest of Europe Autonomous Tractor Market
9.2.5.6.1 Rest of Europe Autonomous Tractor Market by Components
9.2.5.6.2 Rest of Europe Autonomous Tractor Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Autonomous Tractor Market Overview
9.3.2 Asia-Pacific Autonomous Tractor Market Forecasts and Analysis
9.3.3 Asia-Pacific Autonomous Tractor Market Forecasts and Analysis - By Components
9.3.4 Asia-Pacific Autonomous Tractor Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Autonomous Tractor Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Autonomous Tractor Market
9.3.5.1.1 Australia Autonomous Tractor Market by Components
9.3.5.1.2 Australia Autonomous Tractor Market by Application
9.3.5.2 China Autonomous Tractor Market
9.3.5.2.1 China Autonomous Tractor Market by Components
9.3.5.2.2 China Autonomous Tractor Market by Application
9.3.5.3 India Autonomous Tractor Market
9.3.5.3.1 India Autonomous Tractor Market by Components
9.3.5.3.2 India Autonomous Tractor Market by Application
9.3.5.4 Japan Autonomous Tractor Market
9.3.5.4.1 Japan Autonomous Tractor Market by Components
9.3.5.4.2 Japan Autonomous Tractor Market by Application
9.3.5.5 South Korea Autonomous Tractor Market
9.3.5.5.1 South Korea Autonomous Tractor Market by Components
9.3.5.5.2 South Korea Autonomous Tractor Market by Application
9.3.5.6 Rest of Asia-Pacific Autonomous Tractor Market
9.3.5.6.1 Rest of Asia-Pacific Autonomous Tractor Market by Components
9.3.5.6.2 Rest of Asia-Pacific Autonomous Tractor Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Autonomous Tractor Market Overview
9.4.2 Middle East and Africa Autonomous Tractor Market Forecasts and Analysis
9.4.3 Middle East and Africa Autonomous Tractor Market Forecasts and Analysis - By Components
9.4.4 Middle East and Africa Autonomous Tractor Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Autonomous Tractor Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Autonomous Tractor Market
9.4.5.1.1 South Africa Autonomous Tractor Market by Components
9.4.5.1.2 South Africa Autonomous Tractor Market by Application
9.4.5.2 Saudi Arabia Autonomous Tractor Market
9.4.5.2.1 Saudi Arabia Autonomous Tractor Market by Components
9.4.5.2.2 Saudi Arabia Autonomous Tractor Market by Application
9.4.5.3 U.A.E Autonomous Tractor Market
9.4.5.3.1 U.A.E Autonomous Tractor Market by Components
9.4.5.3.2 U.A.E Autonomous Tractor Market by Application
9.4.5.4 Rest of Middle East and Africa Autonomous Tractor Market
9.4.5.4.1 Rest of Middle East and Africa Autonomous Tractor Market by Components
9.4.5.4.2 Rest of Middle East and Africa Autonomous Tractor Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Autonomous Tractor Market Overview
9.5.2 South and Central America Autonomous Tractor Market Forecasts and Analysis
9.5.3 South and Central America Autonomous Tractor Market Forecasts and Analysis - By Components
9.5.4 South and Central America Autonomous Tractor Market Forecasts and Analysis - By Application
9.5.5 South and Central America Autonomous Tractor Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Autonomous Tractor Market
9.5.5.1.1 Brazil Autonomous Tractor Market by Components
9.5.5.1.2 Brazil Autonomous Tractor Market by Application
9.5.5.2 Argentina Autonomous Tractor Market
9.5.5.2.1 Argentina Autonomous Tractor Market by Components
9.5.5.2.2 Argentina Autonomous Tractor Market by Application
9.5.5.3 Rest of South and Central America Autonomous Tractor Market
9.5.5.3.1 Rest of South and Central America Autonomous Tractor Market by Components
9.5.5.3.2 Rest of South and Central America Autonomous Tractor Market by Application
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. AUTONOMOUS TRACTOR MARKET, KEY COMPANY PROFILES
11.1. AGCO CORPORATION.
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. AUTONOMOUS SOLUTIONS INC.
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. AUTONOMOUS TRACTOR CORPORATION.
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. DEERE COMPANY.
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. KINZE MANUFACTURING
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. KUBOTA AGRICULTURAL MACHINERY INDIA.
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. MAHINDRA MAHINDRA LTD.
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. RAVEN INDUSTRIES, INC.
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. TRIMBLE INC.
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. YANMAR CO., LTD.
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. AGCO Corporation.
2. Autonomous Solutions Inc.
3. Autonomous Tractor Corporation.
4. Deere Company.
5. Kinze Manufacturing
6. Kubota Agricultural Machinery India.
7. Mahindra Mahindra Ltd.
8. Raven Industries, Inc.
9. Trimble Inc.
10. YANMAR CO. , 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.
Get Free Sample For