Behind the Meter (BTM) Market Updates by 2031
BTM batteries offer huge potential for the global residential, commercial and industrial sectors. BTM batteries can help consumers reduce their electricity bills and energy management. An increase in electricity demand will likely increase the demand for variable renewables in the grid and promote green energy. BTM batteries can help customers save on electricity bills by controlling energy demand. The largest share of sustainability change in the grid can be released by increasing demand flexibility. Combined BTM batteries can provide system support while reducing network overhead and high capacity. Lower upfront prices, the establishment of regulatory frameworks, and reduction of ancillary costs such as connection and authorization fees are the major aspects driving the market.
MARKET SCOPE
The "Global Behind the Meter (BTM) Market Analysis to 2031" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the behind the meter market with detailed market segmentation by battery, capacity, end user, and geography. The global behind the meter market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading behind the meter market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on battery, the market is segmented into Lithium-ion Battery, Lead Acid battery, Others.
- On the basis of capacity, the market is segmented into Up to 500 kW, Above 500 kW.
- On the basis of end user, the market is segmented into Residential, Commercial, Industrial.
The global behind the meter market is segmented on the basis of battery, capacity, and end user
MARKET DYNAMICS
Drivers:
- -
- Rising electricity demand is expected to drive demand for variable renewable energy on the grid and promote green energy.
- On the other hand, the high costs associated with manufacturing are expected to hinder the market growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
IMPACT OF COVID-19
In 2021, grid-connected battery storage systems were in decline. A total of 2.7 GW of grid-tied battery storage was installed globally in 2021, up from 3.7 GW in 2021. As the market was poised to reaccelerate in 2021, the outbreak of the global pandemic of COVID-19 and the ensuing economic shock meant that the near-term outlook for energy storage was significantly affected. The energy storage industry is still in the early stages of rapid development. Thus, the outbreak was expected to have a limited impact on the overall market development in 2021. Because the fundamental need for technology is the basis for a strong project pipeline and the existing strong growth curve, growth in 2021 and beyond will continue to accelerate. Around the world, the impact of the COVID-19 pandemic will be different. Despite severe economic challenges, the US will be the largest global market with an installation of just over 2 GW in 2021, with falling demand behind the meter and project delays in the meter market (FTM) pushing the 18% forecasts to be lowered.
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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
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
IMPACT OF COVID-19
In 2021, grid-connected battery storage systems were in decline. A total of 2.7 GW of grid-tied battery storage was installed globally in 2021, up from 3.7 GW in 2021. As the market was poised to reaccelerate in 2021, the outbreak of the global pandemic of COVID-19 and the ensuing economic shock meant that the near-term outlook for energy storage was significantly affected. The energy storage industry is still in the early stages of rapid development. Thus, the outbreak was expected to have a limited impact on the overall market development in 2021. Because the fundamental need for technology is the basis for a strong project pipeline and the existing strong growth curve, growth in 2021 and beyond will continue to accelerate. Around the world, the impact of the COVID-19 pandemic will be different. Despite severe economic challenges, the US will be the largest global market with an installation of just over 2 GW in 2021, with falling demand behind the meter and project delays in the meter market (FTM) pushing the 18% forecasts to be lowered.
MARKET PLAYERS
The reports cover key developments in the behind the meter 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 market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from behind the meter market are anticipated to lucrative growth opportunities in the future with the rising demand for behind the meter in the global market. Below mentioned is the list of few companies engaged in the behind the meter market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the behind the meter 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 three years, the key development in the past five years.
- Honeywell International Inc.
- ESS, Inc.
- Stem. Inc.
- Johnsons Controls
- Schneider Electric
- SUN POWER
- Sonnen
- Greensmith
- JLM Energy
- Clean Energy Storage Inc.
- 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 Behind The Meter (BTM) Market - By Battery
1.3.2 Behind The Meter (BTM) Market - By Capacity
1.3.3 Behind The Meter (BTM) Market - By End User
1.3.4 Behind The Meter (BTM) Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BEHIND THE METER (BTM) 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. EXPERT OPINIONS
5. BEHIND THE METER (BTM) 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. BEHIND THE METER (BTM) MARKET - GLOBAL MARKET ANALYSIS
6.1. BEHIND THE METER (BTM) - GLOBAL MARKET OVERVIEW
6.2. BEHIND THE METER (BTM) - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. BEHIND THE METER (BTM) MARKET - REVENUE AND FORECASTS TO 2028 - BATTERY
7.1. OVERVIEW
7.2. BATTERY MARKET FORECASTS AND ANALYSIS
7.3. LITHIUM-ION BATTERY
7.3.1. Overview
7.3.2. Lithium-ion Battery Market Forecast and Analysis
7.4. LEAD ACID BATTERY
7.4.1. Overview
7.4.2. Lead Acid battery Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. BEHIND THE METER (BTM) MARKET - REVENUE AND FORECASTS TO 2028 - CAPACITY
8.1. OVERVIEW
8.2. CAPACITY MARKET FORECASTS AND ANALYSIS
8.3. UP TO 500 KW
8.3.1. Overview
8.3.2. Up to 500 kW Market Forecast and Analysis
8.4. ABOVE 500 KW
8.4.1. Overview
8.4.2. Above 500 kW Market Forecast and Analysis
9. BEHIND THE METER (BTM) MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. RESIDENTIAL
9.3.1. Overview
9.3.2. Residential Market Forecast and Analysis
9.4. COMMERCIAL
9.4.1. Overview
9.4.2. Commercial Market Forecast and Analysis
9.5. INDUSTRIAL
9.5.1. Overview
9.5.2. Industrial Market Forecast and Analysis
10. BEHIND THE METER (BTM) MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Behind The Meter (BTM) Market Overview
10.1.2 North America Behind The Meter (BTM) Market Forecasts and Analysis
10.1.3 North America Behind The Meter (BTM) Market Forecasts and Analysis - By Battery
10.1.4 North America Behind The Meter (BTM) Market Forecasts and Analysis - By Capacity
10.1.5 North America Behind The Meter (BTM) Market Forecasts and Analysis - By End User
10.1.6 North America Behind The Meter (BTM) Market Forecasts and Analysis - By Countries
10.1.6.1 United States Behind The Meter (BTM) Market
10.1.6.1.1 United States Behind The Meter (BTM) Market by Battery
10.1.6.1.2 United States Behind The Meter (BTM) Market by Capacity
10.1.6.1.3 United States Behind The Meter (BTM) Market by End User
10.1.6.2 Canada Behind The Meter (BTM) Market
10.1.6.2.1 Canada Behind The Meter (BTM) Market by Battery
10.1.6.2.2 Canada Behind The Meter (BTM) Market by Capacity
10.1.6.2.3 Canada Behind The Meter (BTM) Market by End User
10.1.6.3 Mexico Behind The Meter (BTM) Market
10.1.6.3.1 Mexico Behind The Meter (BTM) Market by Battery
10.1.6.3.2 Mexico Behind The Meter (BTM) Market by Capacity
10.1.6.3.3 Mexico Behind The Meter (BTM) Market by End User
10.2. EUROPE
10.2.1 Europe Behind The Meter (BTM) Market Overview
10.2.2 Europe Behind The Meter (BTM) Market Forecasts and Analysis
10.2.3 Europe Behind The Meter (BTM) Market Forecasts and Analysis - By Battery
10.2.4 Europe Behind The Meter (BTM) Market Forecasts and Analysis - By Capacity
10.2.5 Europe Behind The Meter (BTM) Market Forecasts and Analysis - By End User
10.2.6 Europe Behind The Meter (BTM) Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Behind The Meter (BTM) Market
10.2.6.1.1 Germany Behind The Meter (BTM) Market by Battery
10.2.6.1.2 Germany Behind The Meter (BTM) Market by Capacity
10.2.6.1.3 Germany Behind The Meter (BTM) Market by End User
10.2.6.2 France Behind The Meter (BTM) Market
10.2.6.2.1 France Behind The Meter (BTM) Market by Battery
10.2.6.2.2 France Behind The Meter (BTM) Market by Capacity
10.2.6.2.3 France Behind The Meter (BTM) Market by End User
10.2.6.3 Italy Behind The Meter (BTM) Market
10.2.6.3.1 Italy Behind The Meter (BTM) Market by Battery
10.2.6.3.2 Italy Behind The Meter (BTM) Market by Capacity
10.2.6.3.3 Italy Behind The Meter (BTM) Market by End User
10.2.6.4 United Kingdom Behind The Meter (BTM) Market
10.2.6.4.1 United Kingdom Behind The Meter (BTM) Market by Battery
10.2.6.4.2 United Kingdom Behind The Meter (BTM) Market by Capacity
10.2.6.4.3 United Kingdom Behind The Meter (BTM) Market by End User
10.2.6.5 Russia Behind The Meter (BTM) Market
10.2.6.5.1 Russia Behind The Meter (BTM) Market by Battery
10.2.6.5.2 Russia Behind The Meter (BTM) Market by Capacity
10.2.6.5.3 Russia Behind The Meter (BTM) Market by End User
10.2.6.6 Rest of Europe Behind The Meter (BTM) Market
10.2.6.6.1 Rest of Europe Behind The Meter (BTM) Market by Battery
10.2.6.6.2 Rest of Europe Behind The Meter (BTM) Market by Capacity
10.2.6.6.3 Rest of Europe Behind The Meter (BTM) Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Behind The Meter (BTM) Market Overview
10.3.2 Asia-Pacific Behind The Meter (BTM) Market Forecasts and Analysis
10.3.3 Asia-Pacific Behind The Meter (BTM) Market Forecasts and Analysis - By Battery
10.3.4 Asia-Pacific Behind The Meter (BTM) Market Forecasts and Analysis - By Capacity
10.3.5 Asia-Pacific Behind The Meter (BTM) Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Behind The Meter (BTM) Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Behind The Meter (BTM) Market
10.3.6.1.1 Australia Behind The Meter (BTM) Market by Battery
10.3.6.1.2 Australia Behind The Meter (BTM) Market by Capacity
10.3.6.1.3 Australia Behind The Meter (BTM) Market by End User
10.3.6.2 China Behind The Meter (BTM) Market
10.3.6.2.1 China Behind The Meter (BTM) Market by Battery
10.3.6.2.2 China Behind The Meter (BTM) Market by Capacity
10.3.6.2.3 China Behind The Meter (BTM) Market by End User
10.3.6.3 India Behind The Meter (BTM) Market
10.3.6.3.1 India Behind The Meter (BTM) Market by Battery
10.3.6.3.2 India Behind The Meter (BTM) Market by Capacity
10.3.6.3.3 India Behind The Meter (BTM) Market by End User
10.3.6.4 Japan Behind The Meter (BTM) Market
10.3.6.4.1 Japan Behind The Meter (BTM) Market by Battery
10.3.6.4.2 Japan Behind The Meter (BTM) Market by Capacity
10.3.6.4.3 Japan Behind The Meter (BTM) Market by End User
10.3.6.5 South Korea Behind The Meter (BTM) Market
10.3.6.5.1 South Korea Behind The Meter (BTM) Market by Battery
10.3.6.5.2 South Korea Behind The Meter (BTM) Market by Capacity
10.3.6.5.3 South Korea Behind The Meter (BTM) Market by End User
10.3.6.6 Rest of Asia-Pacific Behind The Meter (BTM) Market
10.3.6.6.1 Rest of Asia-Pacific Behind The Meter (BTM) Market by Battery
10.3.6.6.2 Rest of Asia-Pacific Behind The Meter (BTM) Market by Capacity
10.3.6.6.3 Rest of Asia-Pacific Behind The Meter (BTM) Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Behind The Meter (BTM) Market Overview
10.4.2 Middle East and Africa Behind The Meter (BTM) Market Forecasts and Analysis
10.4.3 Middle East and Africa Behind The Meter (BTM) Market Forecasts and Analysis - By Battery
10.4.4 Middle East and Africa Behind The Meter (BTM) Market Forecasts and Analysis - By Capacity
10.4.5 Middle East and Africa Behind The Meter (BTM) Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Behind The Meter (BTM) Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Behind The Meter (BTM) Market
10.4.6.1.1 South Africa Behind The Meter (BTM) Market by Battery
10.4.6.1.2 South Africa Behind The Meter (BTM) Market by Capacity
10.4.6.1.3 South Africa Behind The Meter (BTM) Market by End User
10.4.6.2 Saudi Arabia Behind The Meter (BTM) Market
10.4.6.2.1 Saudi Arabia Behind The Meter (BTM) Market by Battery
10.4.6.2.2 Saudi Arabia Behind The Meter (BTM) Market by Capacity
10.4.6.2.3 Saudi Arabia Behind The Meter (BTM) Market by End User
10.4.6.3 U.A.E Behind The Meter (BTM) Market
10.4.6.3.1 U.A.E Behind The Meter (BTM) Market by Battery
10.4.6.3.2 U.A.E Behind The Meter (BTM) Market by Capacity
10.4.6.3.3 U.A.E Behind The Meter (BTM) Market by End User
10.4.6.4 Rest of Middle East and Africa Behind The Meter (BTM) Market
10.4.6.4.1 Rest of Middle East and Africa Behind The Meter (BTM) Market by Battery
10.4.6.4.2 Rest of Middle East and Africa Behind The Meter (BTM) Market by Capacity
10.4.6.4.3 Rest of Middle East and Africa Behind The Meter (BTM) Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Behind The Meter (BTM) Market Overview
10.5.2 South and Central America Behind The Meter (BTM) Market Forecasts and Analysis
10.5.3 South and Central America Behind The Meter (BTM) Market Forecasts and Analysis - By Battery
10.5.4 South and Central America Behind The Meter (BTM) Market Forecasts and Analysis - By Capacity
10.5.5 South and Central America Behind The Meter (BTM) Market Forecasts and Analysis - By End User
10.5.6 South and Central America Behind The Meter (BTM) Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Behind The Meter (BTM) Market
10.5.6.1.1 Brazil Behind The Meter (BTM) Market by Battery
10.5.6.1.2 Brazil Behind The Meter (BTM) Market by Capacity
10.5.6.1.3 Brazil Behind The Meter (BTM) Market by End User
10.5.6.2 Argentina Behind The Meter (BTM) Market
10.5.6.2.1 Argentina Behind The Meter (BTM) Market by Battery
10.5.6.2.2 Argentina Behind The Meter (BTM) Market by Capacity
10.5.6.2.3 Argentina Behind The Meter (BTM) Market by End User
10.5.6.3 Rest of South and Central America Behind The Meter (BTM) Market
10.5.6.3.1 Rest of South and Central America Behind The Meter (BTM) Market by Battery
10.5.6.3.2 Rest of South and Central America Behind The Meter (BTM) Market by Capacity
10.5.6.3.3 Rest of South and Central America Behind The Meter (BTM) Market by End User
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. BEHIND THE METER (BTM) MARKET, KEY COMPANY PROFILES
12.1. HONEYWELL INTERNATIONAL 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. ESS, INC
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. STEM. 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. JOHNSONS CONTROLS
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. SCHNEIDER ELECTRIC
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. SUN POWER
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. SONNEN
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. GREENSMITH
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. JLM ENERGY
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. CLEAN ENERGY STORAGE INC
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.Honeywell International Inc
2.ESS, Inc
3.Stem. Inc
4.Johnsons Controls
5.Schneider Electric
6.SUN POWER
7.Sonnen
8.Greensmith
9.JLM Energy
10.Clean Energy Storage Inc
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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