Current Sensors Market Forecast (2024-2031)
The Current Sensors Market is expected to register a CAGR of 10.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented By Current Sensing (Direct Current Sensing, In-direct Current Sensing), Loop (Open Loop,Closed Loop), Technology (Hall Effect, Shunt, Flux Gate, Magneto-resistive) Output (Analog, Digital), Application (Motor Drive, Converter Inverter, Battery Management, UPS & SMPS, Starter & Generators, Grid Infrastructure, Others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the ReportThe report Current Sensors Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Current Sensors Market Segmentation
Current Sensing- Direct Current Sensing
- In-direct Current Sensing
- Open Loop
- Closed Loop
- Hall Effect
- Shunt
- Flux Gate
- Magneto-resistive
- Analog
- Digital
- Analog
- Digital
Strategic Insights
Current Sensors Market Growth Drivers- Rising Demand for Energy-Efficient Solutions: With the global emphasis on sustainability and energy conservation, the current sensors market is benefiting from the rising demand for energy-efficient solutions. Current sensors play a crucial role in monitoring and managing electrical consumption in various applications, including smart grids and renewable energy systems. By providing precise measurements of current flow, these sensors enable utilities and businesses to optimize energy distribution, reduce waste, and integrate renewable energy sources effectively. The push for energy efficiency is expected to drive innovation and expand the adoption of current sensor technologies.
- Increasing Safety and Monitoring Regulations: Another significant driver for the current sensors market is the growing number of safety and monitoring regulations across industries. Governments and regulatory bodies are implementing stricter standards to ensure the safety of electrical systems and equipment. Current sensors are essential for detecting overcurrent conditions, preventing electrical faults, and enhancing system reliability. As industries such as automotive, aerospace, and manufacturing prioritize compliance with safety regulations, the demand for advanced current sensing solutions is expected to rise, contributing to market growth.
- Miniaturization and Integration of Current Sensors: A significant trend in the current sensors market is the miniaturization and integration of these devices. Manufacturers are developing compact, lightweight, and highly integrated current sensors that can be easily embedded into various applications, from consumer electronics to industrial equipment. This trend is driven by the need for space-saving solutions and the growing demand for seamless integration of sensing technologies into smart and connected devices.
- Increased Focus on Sensor Accuracy and Reliability: As current sensors are critical for various applications, there is a growing emphasis on improving their accuracy and reliability. Manufacturers are investing in research and development to enhance the performance of current sensors, including the development of advanced sensing technologies, improved signal processing algorithms, and more robust materials. This trend is particularly relevant in mission-critical applications, such as power grids and industrial automation, where precise current monitoring is essential for safe and efficient operations.
- Advancements in Renewable Energy Generation: The rapid growth of renewable energy sources, such as solar and wind power, is a major driver for the current sensors market. Current sensors are essential for monitoring and controlling the generation, distribution, and storage of renewable energy, ensuring efficient and reliable power systems. As countries and organizations continue to invest in renewable energy infrastructure, the need for advanced current sensing technologies will continue to grow, fueling the expansion of the current sensors market.
- Rapid Industrial Automation: The current sensors market is significantly driven by the ongoing trend of industrial automation across various sectors. As industries strive for increased operational efficiency, reduced labor costs, and enhanced productivity, the demand for current sensors has surged. These sensors provide real-time monitoring and control of electrical systems, enabling businesses to optimize energy consumption, ensure equipment safety, and improve overall system reliability. The growing adoption of automation technologies, such as robotics and IoT, further propels the need for accurate and reliable current sensing solutions in manufacturing and process industries.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Current Sensors Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Current Sensors Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Current Sensors Market is estimated to witness a CAGR of 10.2% from 2023 to 2031
Industrial IoT adoption and electric vehicle growth are the major factors driving the current sensors market
Miniaturization and integration to play a significant role in the global current sensors market in the coming years
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 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
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Current Sensor Market - By Type1
1.3.2Current Sensor Market - By Type2
1.3.3Current Sensor Market - By End User
1.3.4Current Sensor Market - By Region
1.3.4.1By Country
2.KEY TAKEWAYS
3.RESEARCH METHODOLOGY
4.CURRENT SENSOR MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.CURRENT SENSOR 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.CURRENT SENSOR MARKET - GLOBAL MARKET ANALYSIS
6.1.CURRENT SENSOR - GLOBAL MARKET OVERVIEW
6.2.CURRENT SENSOR - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.CURRENT SENSOR MARKET - REVENUE AND FORECASTS TO 2028 - TYPE1
7.1.OVERVIEW
7.2.TYPE1 MARKET FORECASTS AND ANALYSIS
7.3.OPEN LOOP
7.3.1.Overview
7.3.2.Open Loop Market Forecast and Analysis
7.4.CLOSED LOOP
7.4.1.Overview
7.4.2.Closed Loop Market Forecast and Analysis
8.CURRENT SENSOR MARKET - REVENUE AND FORECASTS TO 2028 - TYPE2
8.1.OVERVIEW
8.2.TYPE2 MARKET FORECASTS AND ANALYSIS
8.3.ISOLATED CURRENT SENSORS
8.3.1.Overview
8.3.2.Isolated Current Sensors Market Forecast and Analysis
8.3.3.Magnetic Current Sensors Market
8.3.3.1.Overview
8.3.3.2.Magnetic Current Sensors Market Forecast and Analysis
8.3.4.Opto-Isolated Op Amp Market
8.3.4.1.Overview
8.3.4.2.Opto-Isolated Op Amp Market Forecast and Analysis
8.3.5.Shunt-Isolated Op Amp Market
8.3.5.1.Overview
8.3.5.2.Shunt-Isolated Op Amp Market Forecast and Analysis
8.4.NON-ISOLATED CURRENT SENSORS
8.4.1.Overview
8.4.2.Non-Isolated Current Sensors Market Forecast and Analysis
8.4.3.Current Sensing Amplifiers Market
8.4.3.1.Overview
8.4.3.2.Current Sensing Amplifiers Market Forecast and Analysis
8.4.4.Analog-To-Digital Converters Market
8.4.4.1.Overview
8.4.4.2.Analog-To-Digital Converters Market Forecast and Analysis
9.CURRENT SENSOR MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1.OVERVIEW
9.2.END USER MARKET FORECASTS AND ANALYSIS
9.3.AUTOMOTIVE
9.3.1.Overview
9.3.2.Automotive Market Forecast and Analysis
9.4.CONSUMER ELECTRONICS
9.4.1.Overview
9.4.2.Consumer Electronics Market Forecast and Analysis
9.5.TELECOM AND NETWORKING
9.5.1.Overview
9.5.2.Telecom and Networking Market Forecast and Analysis
9.6.HEALTHCARE
9.6.1.Overview
9.6.2.Healthcare Market Forecast and Analysis
9.7.INDUSTRIAL
9.7.1.Overview
9.7.2.Industrial Market Forecast and Analysis
9.8.ENERGY
9.8.1.Overview
9.8.2.Energy Market Forecast and Analysis
10.CURRENT SENSOR MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Current Sensor Market Overview
10.1.2North America Current Sensor Market Forecasts and Analysis
10.1.3North America Current Sensor Market Forecasts and Analysis - By Type1
10.1.4North America Current Sensor Market Forecasts and Analysis - By Type2
10.1.5North America Current Sensor Market Forecasts and Analysis - By End User
10.1.6North America Current Sensor Market Forecasts and Analysis - By Countries
10.1.6.1United States Current Sensor Market
10.1.6.1.1United States Current Sensor Market by Type1
10.1.6.1.2United States Current Sensor Market by Type2
10.1.6.1.3United States Current Sensor Market by End User
10.1.6.2Canada Current Sensor Market
10.1.6.2.1Canada Current Sensor Market by Type1
10.1.6.2.2Canada Current Sensor Market by Type2
10.1.6.2.3Canada Current Sensor Market by End User
10.1.6.3Mexico Current Sensor Market
10.1.6.3.1Mexico Current Sensor Market by Type1
10.1.6.3.2Mexico Current Sensor Market by Type2
10.1.6.3.3Mexico Current Sensor Market by End User
10.2.EUROPE
10.2.1Europe Current Sensor Market Overview
10.2.2Europe Current Sensor Market Forecasts and Analysis
10.2.3Europe Current Sensor Market Forecasts and Analysis - By Type1
10.2.4Europe Current Sensor Market Forecasts and Analysis - By Type2
10.2.5Europe Current Sensor Market Forecasts and Analysis - By End User
10.2.6Europe Current Sensor Market Forecasts and Analysis - By Countries
10.2.6.1Germany Current Sensor Market
10.2.6.1.1Germany Current Sensor Market by Type1
10.2.6.1.2Germany Current Sensor Market by Type2
10.2.6.1.3Germany Current Sensor Market by End User
10.2.6.2France Current Sensor Market
10.2.6.2.1France Current Sensor Market by Type1
10.2.6.2.2France Current Sensor Market by Type2
10.2.6.2.3France Current Sensor Market by End User
10.2.6.3Italy Current Sensor Market
10.2.6.3.1Italy Current Sensor Market by Type1
10.2.6.3.2Italy Current Sensor Market by Type2
10.2.6.3.3Italy Current Sensor Market by End User
10.2.6.4United Kingdom Current Sensor Market
10.2.6.4.1United Kingdom Current Sensor Market by Type1
10.2.6.4.2United Kingdom Current Sensor Market by Type2
10.2.6.4.3United Kingdom Current Sensor Market by End User
10.2.6.5Russia Current Sensor Market
10.2.6.5.1Russia Current Sensor Market by Type1
10.2.6.5.2Russia Current Sensor Market by Type2
10.2.6.5.3Russia Current Sensor Market by End User
10.2.6.6Rest of Europe Current Sensor Market
10.2.6.6.1Rest of Europe Current Sensor Market by Type1
10.2.6.6.2Rest of Europe Current Sensor Market by Type2
10.2.6.6.3Rest of Europe Current Sensor Market by End User
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Current Sensor Market Overview
10.3.2Asia-Pacific Current Sensor Market Forecasts and Analysis
10.3.3Asia-Pacific Current Sensor Market Forecasts and Analysis - By Type1
10.3.4Asia-Pacific Current Sensor Market Forecasts and Analysis - By Type2
10.3.5Asia-Pacific Current Sensor Market Forecasts and Analysis - By End User
10.3.6Asia-Pacific Current Sensor Market Forecasts and Analysis - By Countries
10.3.6.1Australia Current Sensor Market
10.3.6.1.1Australia Current Sensor Market by Type1
10.3.6.1.2Australia Current Sensor Market by Type2
10.3.6.1.3Australia Current Sensor Market by End User
10.3.6.2China Current Sensor Market
10.3.6.2.1China Current Sensor Market by Type1
10.3.6.2.2China Current Sensor Market by Type2
10.3.6.2.3China Current Sensor Market by End User
10.3.6.3India Current Sensor Market
10.3.6.3.1India Current Sensor Market by Type1
10.3.6.3.2India Current Sensor Market by Type2
10.3.6.3.3India Current Sensor Market by End User
10.3.6.4Japan Current Sensor Market
10.3.6.4.1Japan Current Sensor Market by Type1
10.3.6.4.2Japan Current Sensor Market by Type2
10.3.6.4.3Japan Current Sensor Market by End User
10.3.6.5South Korea Current Sensor Market
10.3.6.5.1South Korea Current Sensor Market by Type1
10.3.6.5.2South Korea Current Sensor Market by Type2
10.3.6.5.3South Korea Current Sensor Market by End User
10.3.6.6Rest of Asia-Pacific Current Sensor Market
10.3.6.6.1Rest of Asia-Pacific Current Sensor Market by Type1
10.3.6.6.2Rest of Asia-Pacific Current Sensor Market by Type2
10.3.6.6.3Rest of Asia-Pacific Current Sensor Market by End User
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Current Sensor Market Overview
10.4.2Middle East and Africa Current Sensor Market Forecasts and Analysis
10.4.3Middle East and Africa Current Sensor Market Forecasts and Analysis - By Type1
10.4.4Middle East and Africa Current Sensor Market Forecasts and Analysis - By Type2
10.4.5Middle East and Africa Current Sensor Market Forecasts and Analysis - By End User
10.4.6Middle East and Africa Current Sensor Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Current Sensor Market
10.4.6.1.1South Africa Current Sensor Market by Type1
10.4.6.1.2South Africa Current Sensor Market by Type2
10.4.6.1.3South Africa Current Sensor Market by End User
10.4.6.2Saudi Arabia Current Sensor Market
10.4.6.2.1Saudi Arabia Current Sensor Market by Type1
10.4.6.2.2Saudi Arabia Current Sensor Market by Type2
10.4.6.2.3Saudi Arabia Current Sensor Market by End User
10.4.6.3U.A.E Current Sensor Market
10.4.6.3.1U.A.E Current Sensor Market by Type1
10.4.6.3.2U.A.E Current Sensor Market by Type2
10.4.6.3.3U.A.E Current Sensor Market by End User
10.4.6.4Rest of Middle East and Africa Current Sensor Market
10.4.6.4.1Rest of Middle East and Africa Current Sensor Market by Type1
10.4.6.4.2Rest of Middle East and Africa Current Sensor Market by Type2
10.4.6.4.3Rest of Middle East and Africa Current Sensor Market by End User
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Current Sensor Market Overview
10.5.2South and Central America Current Sensor Market Forecasts and Analysis
10.5.3South and Central America Current Sensor Market Forecasts and Analysis - By Type1
10.5.4South and Central America Current Sensor Market Forecasts and Analysis - By Type2
10.5.5South and Central America Current Sensor Market Forecasts and Analysis - By End User
10.5.6South and Central America Current Sensor Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Current Sensor Market
10.5.6.1.1Brazil Current Sensor Market by Type1
10.5.6.1.2Brazil Current Sensor Market by Type2
10.5.6.1.3Brazil Current Sensor Market by End User
10.5.6.2Argentina Current Sensor Market
10.5.6.2.1Argentina Current Sensor Market by Type1
10.5.6.2.2Argentina Current Sensor Market by Type2
10.5.6.2.3Argentina Current Sensor Market by End User
10.5.6.3Rest of South and Central America Current Sensor Market
10.5.6.3.1Rest of South and Central America Current Sensor Market by Type1
10.5.6.3.2Rest of South and Central America Current Sensor Market by Type2
10.5.6.3.3Rest of South and Central America Current Sensor 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.CURRENT SENSOR MARKET, KEY COMPANY PROFILES
12.1.ACEINNA
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.ASAHI KASEI MICRODEVICES CORPORATION
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.DIGI KEY ELECTRONICS
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.ELECTROHMS PRIVATE LIMITED
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.HONEYWELL INTERNATIONAL INC.
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.INFINEON TECHNOLOGIES AG
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.KOHSHIN ELECTRIC CORPORATION
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.OMRON CORPORATION
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.PEWATRON AG
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.SILICON LABORATORIES
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.Aceinna
2.Asahi Kasei Microdevices Corporation
3.Digi Key Electronics
4.ELECTROHMS PRIVATE LIMITED
5.Honeywell International Inc.
6.Infineon Technologies AG
7.KOHSHIN ELECTRIC CORPORATION
8.OMRON Corporation
9.Pewatron AG
10.Silicon Laboratories
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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