Bicycle Lights Market SWOT Analysis by 2031
Bicycle lights and reflectors are regarded a must-have for all riders, especially those who love to ride at night. When there is less light and visibility, bicycle lights are required. Mountaineering and adventure cycling is a growing activity these days, and bicycle riders need lights such front bike lights, rear bike lights, straps and reflectors, and spoke lights. Various laws around the world require the installation of lights and reflectors on bicycles, as well as their proper arrangement. The Road Vehicles Illumination Regulations 1989 (as revised in 1994 and 2005), sometimes abbreviated as RVLR, governs bicycle lighting.
MARKET DYNAMICS
Cycling has grown in popularity as a sport and fitness activity in recent years as a result of changing lifestyles and increased awareness of its health advantages, resulting in a wide range of technically advanced bicycles with features such as lights and reflectors for riders' convenience. These advantages have boosted the number of purchasers who see bicycles as a cost-effective and environmentally friendly means of transportation. Another factor driving the growth of the bicycle lights and reflectors market is the rise in the number of working women who are primarily concerned with the health advantages and convenience of riding a bicycle.
MARKET SCOPE
The "Global Bicycle Lights Market Analysis to 2031" is a specialized and in-depth study of the Consumer Goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the bicycle lights market with detailed market segmentation by mounting type, bicycle type, distribution channel. The global bicycle lights market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading bicycle lights market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global bicycle lights market is segmented into mounting type, bicycle type, distribution channel. By mounting type, the bicycle lights market is classified into headlight, rear safety lights, side safety lights. By bicycle type, the bicycle lights market is classified into road, mountain, sports. By distribution channel, the bicycle lights market is classified into supermarket and hypermarkets, speciality stores, online retail and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global bicycle lights market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The bicycle lights 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 bicycle lights market from both demand and supply side. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. 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 bicycle lights market in these regions.
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The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global bicycle lights market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The bicycle lights 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 bicycle lights market from both demand and supply side. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. 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 bicycle lights market in these regions.
MARKET PLAYERS
The report covers vital developments in the bicycle lights 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 partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from the bicycle lights market are anticipated to witness lucrative growth opportunities in the future with the rising demand for bicycle lights in the global market. Below mentioned is the list of few companies engaged in the bicycle lights market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the bicycle lights market. Besides, the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- Garmin Ltd.
- Cygolite
- Cateye Co., Ltd.
- Goldmore Co., Ltd.
- Lord Benex
- Knog
- NiteRider Technical Lighting Systems
- Blackburn
- Schwinn
- Serfas
- 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 Bicycle Lights Market - By Mounting type
1.3.2 Bicycle Lights Market - By Bicycle type
1.3.3 Bicycle Lights Market - By Distribution Channel
1.3.4 Bicycle Lights Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BICYCLE LIGHTS 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. BICYCLE LIGHTS 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. BICYCLE LIGHTS MARKET - GLOBAL MARKET ANALYSIS
6.1. BICYCLE LIGHTS - GLOBAL MARKET OVERVIEW
6.2. BICYCLE LIGHTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. BICYCLE LIGHTS MARKET - REVENUE AND FORECASTS TO 2028 - MOUNTING TYPE
7.1. OVERVIEW
7.2. MOUNTING TYPE MARKET FORECASTS AND ANALYSIS
7.3. HEADLIGHT
7.3.1. Overview
7.3.2. Headlight Market Forecast and Analysis
7.4. REAR SAFETY LIGHTS
7.4.1. Overview
7.4.2. Rear Safety Lights Market Forecast and Analysis
7.5. SIDE SAFETY LIGHTS
7.5.1. Overview
7.5.2. Side Safety Lights Market Forecast and Analysis
8. BICYCLE LIGHTS MARKET - REVENUE AND FORECASTS TO 2028 - BICYCLE TYPE
8.1. OVERVIEW
8.2. BICYCLE TYPE MARKET FORECASTS AND ANALYSIS
8.3. ROAD
8.3.1. Overview
8.3.2. Road Market Forecast and Analysis
8.4. MOUNTAIN
8.4.1. Overview
8.4.2. Mountain Market Forecast and Analysis
8.5. SPORTS
8.5.1. Overview
8.5.2. Sports Market Forecast and Analysis
9. BICYCLE LIGHTS MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. SUPERMARKETS AND HYPERMARKETS
9.3.1. Overview
9.3.2. Supermarkets and Hypermarkets Market Forecast and Analysis
9.4. SPECIALTY STORES
9.4.1. Overview
9.4.2. Specialty Stores Market Forecast and Analysis
9.5. ONLINE RETAIL
9.5.1. Overview
9.5.2. Online Retail Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. BICYCLE LIGHTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Bicycle Lights Market Overview
10.1.2 North America Bicycle Lights Market Forecasts and Analysis
10.1.3 North America Bicycle Lights Market Forecasts and Analysis - By Mounting type
10.1.4 North America Bicycle Lights Market Forecasts and Analysis - By Bicycle type
10.1.5 North America Bicycle Lights Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Bicycle Lights Market Forecasts and Analysis - By Countries
10.1.6.1 United States Bicycle Lights Market
10.1.6.1.1 United States Bicycle Lights Market by Mounting type
10.1.6.1.2 United States Bicycle Lights Market by Bicycle type
10.1.6.1.3 United States Bicycle Lights Market by Distribution Channel
10.1.6.2 Canada Bicycle Lights Market
10.1.6.2.1 Canada Bicycle Lights Market by Mounting type
10.1.6.2.2 Canada Bicycle Lights Market by Bicycle type
10.1.6.2.3 Canada Bicycle Lights Market by Distribution Channel
10.1.6.3 Mexico Bicycle Lights Market
10.1.6.3.1 Mexico Bicycle Lights Market by Mounting type
10.1.6.3.2 Mexico Bicycle Lights Market by Bicycle type
10.1.6.3.3 Mexico Bicycle Lights Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Bicycle Lights Market Overview
10.2.2 Europe Bicycle Lights Market Forecasts and Analysis
10.2.3 Europe Bicycle Lights Market Forecasts and Analysis - By Mounting type
10.2.4 Europe Bicycle Lights Market Forecasts and Analysis - By Bicycle type
10.2.5 Europe Bicycle Lights Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Bicycle Lights Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Bicycle Lights Market
10.2.6.1.1 Germany Bicycle Lights Market by Mounting type
10.2.6.1.2 Germany Bicycle Lights Market by Bicycle type
10.2.6.1.3 Germany Bicycle Lights Market by Distribution Channel
10.2.6.2 France Bicycle Lights Market
10.2.6.2.1 France Bicycle Lights Market by Mounting type
10.2.6.2.2 France Bicycle Lights Market by Bicycle type
10.2.6.2.3 France Bicycle Lights Market by Distribution Channel
10.2.6.3 Italy Bicycle Lights Market
10.2.6.3.1 Italy Bicycle Lights Market by Mounting type
10.2.6.3.2 Italy Bicycle Lights Market by Bicycle type
10.2.6.3.3 Italy Bicycle Lights Market by Distribution Channel
10.2.6.4 United Kingdom Bicycle Lights Market
10.2.6.4.1 United Kingdom Bicycle Lights Market by Mounting type
10.2.6.4.2 United Kingdom Bicycle Lights Market by Bicycle type
10.2.6.4.3 United Kingdom Bicycle Lights Market by Distribution Channel
10.2.6.5 Russia Bicycle Lights Market
10.2.6.5.1 Russia Bicycle Lights Market by Mounting type
10.2.6.5.2 Russia Bicycle Lights Market by Bicycle type
10.2.6.5.3 Russia Bicycle Lights Market by Distribution Channel
10.2.6.6 Rest of Europe Bicycle Lights Market
10.2.6.6.1 Rest of Europe Bicycle Lights Market by Mounting type
10.2.6.6.2 Rest of Europe Bicycle Lights Market by Bicycle type
10.2.6.6.3 Rest of Europe Bicycle Lights Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Bicycle Lights Market Overview
10.3.2 Asia-Pacific Bicycle Lights Market Forecasts and Analysis
10.3.3 Asia-Pacific Bicycle Lights Market Forecasts and Analysis - By Mounting type
10.3.4 Asia-Pacific Bicycle Lights Market Forecasts and Analysis - By Bicycle type
10.3.5 Asia-Pacific Bicycle Lights Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Bicycle Lights Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Bicycle Lights Market
10.3.6.1.1 Australia Bicycle Lights Market by Mounting type
10.3.6.1.2 Australia Bicycle Lights Market by Bicycle type
10.3.6.1.3 Australia Bicycle Lights Market by Distribution Channel
10.3.6.2 China Bicycle Lights Market
10.3.6.2.1 China Bicycle Lights Market by Mounting type
10.3.6.2.2 China Bicycle Lights Market by Bicycle type
10.3.6.2.3 China Bicycle Lights Market by Distribution Channel
10.3.6.3 India Bicycle Lights Market
10.3.6.3.1 India Bicycle Lights Market by Mounting type
10.3.6.3.2 India Bicycle Lights Market by Bicycle type
10.3.6.3.3 India Bicycle Lights Market by Distribution Channel
10.3.6.4 Japan Bicycle Lights Market
10.3.6.4.1 Japan Bicycle Lights Market by Mounting type
10.3.6.4.2 Japan Bicycle Lights Market by Bicycle type
10.3.6.4.3 Japan Bicycle Lights Market by Distribution Channel
10.3.6.5 South Korea Bicycle Lights Market
10.3.6.5.1 South Korea Bicycle Lights Market by Mounting type
10.3.6.5.2 South Korea Bicycle Lights Market by Bicycle type
10.3.6.5.3 South Korea Bicycle Lights Market by Distribution Channel
10.3.6.6 Rest of Asia-Pacific Bicycle Lights Market
10.3.6.6.1 Rest of Asia-Pacific Bicycle Lights Market by Mounting type
10.3.6.6.2 Rest of Asia-Pacific Bicycle Lights Market by Bicycle type
10.3.6.6.3 Rest of Asia-Pacific Bicycle Lights Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Bicycle Lights Market Overview
10.4.2 Middle East and Africa Bicycle Lights Market Forecasts and Analysis
10.4.3 Middle East and Africa Bicycle Lights Market Forecasts and Analysis - By Mounting type
10.4.4 Middle East and Africa Bicycle Lights Market Forecasts and Analysis - By Bicycle type
10.4.5 Middle East and Africa Bicycle Lights Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Bicycle Lights Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Bicycle Lights Market
10.4.6.1.1 South Africa Bicycle Lights Market by Mounting type
10.4.6.1.2 South Africa Bicycle Lights Market by Bicycle type
10.4.6.1.3 South Africa Bicycle Lights Market by Distribution Channel
10.4.6.2 Saudi Arabia Bicycle Lights Market
10.4.6.2.1 Saudi Arabia Bicycle Lights Market by Mounting type
10.4.6.2.2 Saudi Arabia Bicycle Lights Market by Bicycle type
10.4.6.2.3 Saudi Arabia Bicycle Lights Market by Distribution Channel
10.4.6.3 U.A.E Bicycle Lights Market
10.4.6.3.1 U.A.E Bicycle Lights Market by Mounting type
10.4.6.3.2 U.A.E Bicycle Lights Market by Bicycle type
10.4.6.3.3 U.A.E Bicycle Lights Market by Distribution Channel
10.4.6.4 Rest of Middle East and Africa Bicycle Lights Market
10.4.6.4.1 Rest of Middle East and Africa Bicycle Lights Market by Mounting type
10.4.6.4.2 Rest of Middle East and Africa Bicycle Lights Market by Bicycle type
10.4.6.4.3 Rest of Middle East and Africa Bicycle Lights Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Bicycle Lights Market Overview
10.5.2 South and Central America Bicycle Lights Market Forecasts and Analysis
10.5.3 South and Central America Bicycle Lights Market Forecasts and Analysis - By Mounting type
10.5.4 South and Central America Bicycle Lights Market Forecasts and Analysis - By Bicycle type
10.5.5 South and Central America Bicycle Lights Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Bicycle Lights Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Bicycle Lights Market
10.5.6.1.1 Brazil Bicycle Lights Market by Mounting type
10.5.6.1.2 Brazil Bicycle Lights Market by Bicycle type
10.5.6.1.3 Brazil Bicycle Lights Market by Distribution Channel
10.5.6.2 Argentina Bicycle Lights Market
10.5.6.2.1 Argentina Bicycle Lights Market by Mounting type
10.5.6.2.2 Argentina Bicycle Lights Market by Bicycle type
10.5.6.2.3 Argentina Bicycle Lights Market by Distribution Channel
10.5.6.3 Rest of South and Central America Bicycle Lights Market
10.5.6.3.1 Rest of South and Central America Bicycle Lights Market by Mounting type
10.5.6.3.2 Rest of South and Central America Bicycle Lights Market by Bicycle type
10.5.6.3.3 Rest of South and Central America Bicycle Lights Market by Distribution Channel
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. BICYCLE LIGHTS MARKET, KEY COMPANY PROFILES
12.1. GARMIN LTD.
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. CYGOLITE
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. CATEYE 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. GOLDMORE CO., LTD.
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. LORD BENEX
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. KNOG
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. NITERIDER TECHNICAL LIGHTING SYSTEMS
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. BLACKBURN
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. SCHWINN
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. SERFAS
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.Garmin Ltd.
2.Cygolite
3.Cateye Co., Ltd.
4.Goldmore Co., Ltd.
5.Lord Benex
6.Knog
7.NiteRider Technical Lighting Systems
8.Blackburn
9.Schwinn
10.Serfas
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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