The Data Acquisition System Market is expected to register a CAGR of 5.3% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented byComponents (Hardware, Software, and Services), Application (Research and Development, Field Studies, and Others), Industry Vertical (Automotive and Transportation, Aerospace and Defense, Energy and Power, Food and Beverages, Healthcare, and 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 Data Acquisition System 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.
Data Acquisition System Market Segmentation
Components- Hardware
- Software
- Services
- Research and Development
- Field Studies
- Others
- Automotive and Transportation
- Aerospace and Defense
- Energy and Power
- Food and Beverages
- Healthcare
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Data Acquisition System Market Growth Drivers- Growing Industrial Automation: The increasing adoption of industrial automation and the need for real-time data collection are major drivers of the data acquisition (DAQ) system market. Industries like manufacturing, energy, and automotive rely on DAQ systems to monitor and control processes more effectively. These systems enable data collection from sensors, machines, and equipment, ensuring optimized performance, predictive maintenance, and improved decision-making, fueling the demand for advanced DAQ solutions.
- Rising Demand for Data-Driven Insights: The growing emphasis on data-driven decision-making across industries is driving the adoption of DAQ systems. Organizations are increasingly utilizing real-time data for monitoring, analysis, and optimization. As businesses seek more accurate and actionable insights to improve efficiency, enhance productivity, and drive innovation, the need for robust and reliable data acquisition systems has expanded.
- Integration with IoT and Cloud Technologies: The integration of DAQ systems with Internet of Things (IoT) and cloud technologies is transforming the market. IoT-connected sensors enable real-time data collection from remote locations, while cloud computing allows for data storage, analysis, and sharing. This integration enhances the scalability, flexibility, and accessibility of DAQ systems, offering seamless data management and collaboration across platforms.
- Miniaturization and Portability of Systems: As industries require more compact and portable solutions, the trend toward miniaturization of DAQ systems is becoming prominent. Small-sized, portable DAQ systems allow for easy deployment in various field applications such as environmental monitoring, transportation, and remote locations. This trend increases the demand for mobile, lightweight, and easy-to-use data acquisition devices.
- Growth in Renewable Energy Sector: The growing investment in renewable energy sources such as solar, wind, and hydroelectric power presents significant opportunities for the DAQ system market. These energy sectors rely heavily on precise data collection to monitor performance, optimize energy generation, and predict maintenance needs. As the global shift toward renewable energy continues, the demand for advanced DAQ systems to support these technologies will rise.
- Expansion of Smart Manufacturing: Smart manufacturing, driven by Industry 4.0, is creating new opportunities for DAQ systems. Real-time data acquisition from various production lines allows for better monitoring, quality control, and optimization of manufacturing processes. As manufacturers seek to enhance operational efficiency through automation, data acquisition systems will play a crucial role in achieving these goals.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Data Acquisition System 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 Data Acquisition System 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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- Request discounts available for Start-Ups & Universities
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
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
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Wireless and portable DAQ systems gaining popularity
Growing industrial automation and Industry 4.0 adoption, Increasing need for real-time data monitoring and analysis, Rising demand in automotive and aerospace testing
The Data Acquisition System Market is estimated to witness a CAGR of 5.3% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Data Acquisition System Market - By Components
1.3.2 Data Acquisition System Market - By Application
1.3.3 Data Acquisition System Market - By Industry Vertical
1.3.4 Data Acquisition System Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DATA ACQUISITION SYSTEM MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. DATA ACQUISITION SYSTEM 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. DATA ACQUISITION SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. DATA ACQUISITION SYSTEM - GLOBAL MARKET OVERVIEW
6.2. DATA ACQUISITION SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. DATA ACQUISITION SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENTS
7.1. OVERVIEW
7.2. COMPONENTS MARKET FORECASTS AND ANALYSIS
7.3. HARDWARE
7.3.1. Overview
7.3.2. Hardware Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
7.5. SERVICES
7.5.1. Overview
7.5.2. Services Market Forecast and Analysis
8. DATA ACQUISITION SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. RESEARCH AND DEVELOPMENT
8.3.1. Overview
8.3.2. Research and Development Market Forecast and Analysis
8.4. FIELD STUDIES
8.4.1. Overview
8.4.2. Field Studies Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. DATA ACQUISITION SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY VERTICAL
9.1. OVERVIEW
9.2. INDUSTRY VERTICAL MARKET FORECASTS AND ANALYSIS
9.3. AUTOMOTIVE AND TRANSPORTATION
9.3.1. Overview
9.3.2. Automotive and Transportation Market Forecast and Analysis
9.4. AEROSPACE AND DEFENSE
9.4.1. Overview
9.4.2. Aerospace and Defense Market Forecast and Analysis
9.5. ENERGY AND POWER
9.5.1. Overview
9.5.2. Energy and Power Market Forecast and Analysis
9.6. FOOD AND BEVERAGES
9.6.1. Overview
9.6.2. Food and Beverages Market Forecast and Analysis
9.7. HEALTHCARE
9.7.1. Overview
9.7.2. Healthcare Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. DATA ACQUISITION SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Data Acquisition System Market Overview
10.1.2 North America Data Acquisition System Market Forecasts and Analysis
10.1.3 North America Data Acquisition System Market Forecasts and Analysis - By Components
10.1.4 North America Data Acquisition System Market Forecasts and Analysis - By Application
10.1.5 North America Data Acquisition System Market Forecasts and Analysis - By Industry Vertical
10.1.6 North America Data Acquisition System Market Forecasts and Analysis - By Countries
10.1.6.1 United States Data Acquisition System Market
10.1.6.1.1 United States Data Acquisition System Market by Components
10.1.6.1.2 United States Data Acquisition System Market by Application
10.1.6.1.3 United States Data Acquisition System Market by Industry Vertical
10.1.6.2 Canada Data Acquisition System Market
10.1.6.2.1 Canada Data Acquisition System Market by Components
10.1.6.2.2 Canada Data Acquisition System Market by Application
10.1.6.2.3 Canada Data Acquisition System Market by Industry Vertical
10.1.6.3 Mexico Data Acquisition System Market
10.1.6.3.1 Mexico Data Acquisition System Market by Components
10.1.6.3.2 Mexico Data Acquisition System Market by Application
10.1.6.3.3 Mexico Data Acquisition System Market by Industry Vertical
10.2. EUROPE
10.2.1 Europe Data Acquisition System Market Overview
10.2.2 Europe Data Acquisition System Market Forecasts and Analysis
10.2.3 Europe Data Acquisition System Market Forecasts and Analysis - By Components
10.2.4 Europe Data Acquisition System Market Forecasts and Analysis - By Application
10.2.5 Europe Data Acquisition System Market Forecasts and Analysis - By Industry Vertical
10.2.6 Europe Data Acquisition System Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Data Acquisition System Market
10.2.6.1.1 Germany Data Acquisition System Market by Components
10.2.6.1.2 Germany Data Acquisition System Market by Application
10.2.6.1.3 Germany Data Acquisition System Market by Industry Vertical
10.2.6.2 France Data Acquisition System Market
10.2.6.2.1 France Data Acquisition System Market by Components
10.2.6.2.2 France Data Acquisition System Market by Application
10.2.6.2.3 France Data Acquisition System Market by Industry Vertical
10.2.6.3 Italy Data Acquisition System Market
10.2.6.3.1 Italy Data Acquisition System Market by Components
10.2.6.3.2 Italy Data Acquisition System Market by Application
10.2.6.3.3 Italy Data Acquisition System Market by Industry Vertical
10.2.6.4 United Kingdom Data Acquisition System Market
10.2.6.4.1 United Kingdom Data Acquisition System Market by Components
10.2.6.4.2 United Kingdom Data Acquisition System Market by Application
10.2.6.4.3 United Kingdom Data Acquisition System Market by Industry Vertical
10.2.6.5 Russia Data Acquisition System Market
10.2.6.5.1 Russia Data Acquisition System Market by Components
10.2.6.5.2 Russia Data Acquisition System Market by Application
10.2.6.5.3 Russia Data Acquisition System Market by Industry Vertical
10.2.6.6 Rest of Europe Data Acquisition System Market
10.2.6.6.1 Rest of Europe Data Acquisition System Market by Components
10.2.6.6.2 Rest of Europe Data Acquisition System Market by Application
10.2.6.6.3 Rest of Europe Data Acquisition System Market by Industry Vertical
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Data Acquisition System Market Overview
10.3.2 Asia-Pacific Data Acquisition System Market Forecasts and Analysis
10.3.3 Asia-Pacific Data Acquisition System Market Forecasts and Analysis - By Components
10.3.4 Asia-Pacific Data Acquisition System Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Data Acquisition System Market Forecasts and Analysis - By Industry Vertical
10.3.6 Asia-Pacific Data Acquisition System Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Data Acquisition System Market
10.3.6.1.1 Australia Data Acquisition System Market by Components
10.3.6.1.2 Australia Data Acquisition System Market by Application
10.3.6.1.3 Australia Data Acquisition System Market by Industry Vertical
10.3.6.2 China Data Acquisition System Market
10.3.6.2.1 China Data Acquisition System Market by Components
10.3.6.2.2 China Data Acquisition System Market by Application
10.3.6.2.3 China Data Acquisition System Market by Industry Vertical
10.3.6.3 India Data Acquisition System Market
10.3.6.3.1 India Data Acquisition System Market by Components
10.3.6.3.2 India Data Acquisition System Market by Application
10.3.6.3.3 India Data Acquisition System Market by Industry Vertical
10.3.6.4 Japan Data Acquisition System Market
10.3.6.4.1 Japan Data Acquisition System Market by Components
10.3.6.4.2 Japan Data Acquisition System Market by Application
10.3.6.4.3 Japan Data Acquisition System Market by Industry Vertical
10.3.6.5 South Korea Data Acquisition System Market
10.3.6.5.1 South Korea Data Acquisition System Market by Components
10.3.6.5.2 South Korea Data Acquisition System Market by Application
10.3.6.5.3 South Korea Data Acquisition System Market by Industry Vertical
10.3.6.6 Rest of Asia-Pacific Data Acquisition System Market
10.3.6.6.1 Rest of Asia-Pacific Data Acquisition System Market by Components
10.3.6.6.2 Rest of Asia-Pacific Data Acquisition System Market by Application
10.3.6.6.3 Rest of Asia-Pacific Data Acquisition System Market by Industry Vertical
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Data Acquisition System Market Overview
10.4.2 Middle East and Africa Data Acquisition System Market Forecasts and Analysis
10.4.3 Middle East and Africa Data Acquisition System Market Forecasts and Analysis - By Components
10.4.4 Middle East and Africa Data Acquisition System Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Data Acquisition System Market Forecasts and Analysis - By Industry Vertical
10.4.6 Middle East and Africa Data Acquisition System Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Data Acquisition System Market
10.4.6.1.1 South Africa Data Acquisition System Market by Components
10.4.6.1.2 South Africa Data Acquisition System Market by Application
10.4.6.1.3 South Africa Data Acquisition System Market by Industry Vertical
10.4.6.2 Saudi Arabia Data Acquisition System Market
10.4.6.2.1 Saudi Arabia Data Acquisition System Market by Components
10.4.6.2.2 Saudi Arabia Data Acquisition System Market by Application
10.4.6.2.3 Saudi Arabia Data Acquisition System Market by Industry Vertical
10.4.6.3 U.A.E Data Acquisition System Market
10.4.6.3.1 U.A.E Data Acquisition System Market by Components
10.4.6.3.2 U.A.E Data Acquisition System Market by Application
10.4.6.3.3 U.A.E Data Acquisition System Market by Industry Vertical
10.4.6.4 Rest of Middle East and Africa Data Acquisition System Market
10.4.6.4.1 Rest of Middle East and Africa Data Acquisition System Market by Components
10.4.6.4.2 Rest of Middle East and Africa Data Acquisition System Market by Application
10.4.6.4.3 Rest of Middle East and Africa Data Acquisition System Market by Industry Vertical
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Data Acquisition System Market Overview
10.5.2 South and Central America Data Acquisition System Market Forecasts and Analysis
10.5.3 South and Central America Data Acquisition System Market Forecasts and Analysis - By Components
10.5.4 South and Central America Data Acquisition System Market Forecasts and Analysis - By Application
10.5.5 South and Central America Data Acquisition System Market Forecasts and Analysis - By Industry Vertical
10.5.6 South and Central America Data Acquisition System Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Data Acquisition System Market
10.5.6.1.1 Brazil Data Acquisition System Market by Components
10.5.6.1.2 Brazil Data Acquisition System Market by Application
10.5.6.1.3 Brazil Data Acquisition System Market by Industry Vertical
10.5.6.2 Argentina Data Acquisition System Market
10.5.6.2.1 Argentina Data Acquisition System Market by Components
10.5.6.2.2 Argentina Data Acquisition System Market by Application
10.5.6.2.3 Argentina Data Acquisition System Market by Industry Vertical
10.5.6.3 Rest of South and Central America Data Acquisition System Market
10.5.6.3.1 Rest of South and Central America Data Acquisition System Market by Components
10.5.6.3.2 Rest of South and Central America Data Acquisition System Market by Application
10.5.6.3.3 Rest of South and Central America Data Acquisition System Market by Industry Vertical
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. DATA ACQUISITION SYSTEM MARKET, KEY COMPANY PROFILES
12.1. ABB GROUP
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. AMETEK 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. BRUEL AND KJAER
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. HBM (SPECTRIS)
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. KEYSIGHT TECHNOLOGIES
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. NATIONAL INSTRUMENTS
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. ROCKWELL AUTOMATION
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. SIEMENS 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. YOKOGAWA ELECTRIC CORPORATION
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. ABB Group
2. AMETEK Inc.
3. Bruel and Kjaer
4. HBM (Spectris)
5. Honeywell International Inc
6. Keysight Technologies
7. National Instruments
8. Rockwell Automation
9. Siemens AG
10. Yokogawa Electric Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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