Digital Logistics Market Key Findings by 2031
The digital logistics market is expected to register a CAGR of 15.3% during 2023–2031. Increasing focus on real-time tracking tools is likely to remain a key trend in the market.
Digital Logistics Market Analysis
- The digital logistics market includes growth prospects owing to the current market trends and their foreseeable impact during the forecast period.
- The digital logistics market is growing owing to factors such as increased digital transformation in the logistics industry, the huge growth of the e-commerce industry, and rising demand for IoT devices in logistics.
- Integration with advanced technologies such as AI and machine learning to provide lucrative opportunities for the digital logistics market.
Digital Logistics Market Overview
- Digital logistics refers to the automation and digitization of processes related to the movement of goods.
- Digital logistics enables businesses to organize supply chains and logistics more quickly, adapt to changing customer expectations and habits, and automate repetitive tasks.
- Companies need to find ways to cut costs and improve communication between partners and service providers. The internet's widespread use drives up the demand for increased speed and flexibility in the supply chain.
- Supply chain management is, therefore, going through a big transition from conventional to digital logistics.
- In contrast to conventional logistics techniques, digital logistics fosters the adaptability required by contemporary supply chain enterprises to effectively communicate with every member of the supply chain.
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Digital Logistics Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Digital Logistics Market: Strategic Insights
Naveen
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Digital Logistics Market Drivers and Opportunities
Increased Digital Transformation In The Logistics Industry to Favor Market
- Businesses in the logistics sector are modifying their business plans to meet evolving consumer demands.
- The need to lower operating costs, enhance customer service, and create new revenue sources is driving the digital transformation in the logistics industry.
- Digital technologies have the potential to enable logistics companies to better manage and enhance intralogis.
- The key to a successful digital experience is centralizing all data in one location and using digital means to monitor communications. Managing the entire supply chain without paper through digital technologies has a tremendous ROI in terms of both efficiency and the quality of data flowing into the internal systems.
- Digital technologies are central to the customer experience and logistics companies are increasingly focusing on seamless, personalized, and transparent journeys that offer a digital-first approach for their customers.
Integration With Advance Technologies Such As AI and Machine Learning
- Artificial intelligence (AI) is one of the most transformative technologies, helping industries around the world become more efficient and optimize resources, including logistics.
- AI brings some potential benefits to businesses, such as improved inventory accuracy, shorter delivery times, or better customer service.
- By using machine learning (ML) algorithms, businesses may improve their forecasting and minimize shortages or overstocks, which greatly boosts the efficiency of their production planning and scheduling systems.
- Businesses operating in logistics and distribution can anticipate a variety of multifaceted benefits from artificial intelligence (AI), including dynamic route optimization based on historical data that improves vehicle allocation and lowers fuel usage.
Digital Logistics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the digital logistics market analysis are component, deployment, enterprise size, application, and end-user industry.
- By component, the market is bifurcated into Solutions (Asset Management, Warehouse Management, Fleet Management, Data Management and Analytics, Others) and services.
- By deployment, the market is bifurcated into on-premises and cloud.
- By enterprise size, the market is bifurcated into large enterprises and small & medium enterprises.
- By application, the market is segmented into transport management, warehouse management, labor management, and others.
- By application, the market is segmented into manufacturing, retail and consumer goods, healthcare, energy and utilities, automotive, and others.
Digital Logistics Market Share Analysis by Geography
- The digital logistics market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering digital logistics market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the digital logistics market in these regions.
Digital Logistics Market Report Scope
Digital Logistics Market News and Recent Developments
The digital logistics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the digital logistics market are listed below:
- The global family-owned company Hellmann Worldwide Logistics has been collaborating closely with various start-ups for many years to actively shape and drive forward the digital transformation of the industry. (Hellmann, Press Release, February 2024)
- Fujitsu announced the launch of a new cloud-based logistics data standardization and visualization service for shippers, logistics companies, and vendors across the supply chain. The service will offer new tools to customers to achieve sustainability in their operations and address a variety of challenges, including looming shortages of truck drivers, the urgent need to reduce the carbon footprint of transportation, and compliance with stricter industry regulations. (Fujitsu, Press Release, December 2023)
Digital Logistics Market Report Coverage and Deliverables
The “Digital Logistics Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Digital logistics market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Digital logistics market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Digital logistics market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the digital logistics market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global digital logistics market is expected to grow at a CAGR of 15.3% during the forecast period 2024 - 2031.
Increased digital transformation in the logistics industry, the huge growth of the e-commerce industry, and rising demand for IoT devices in logistics are the major factors driving the digital logistics market.
Increasing focus on real-time tracking tools is anticipated to play a significant role in the global digital logistics market in the coming years.
The leading players operating in the digital logistics market are WebXpress; IBM Corporation; Tech Mahindra Limited; Infosys Limited; HCL Technologies Limited; AT&T Intellectual Property; Oracle; Intel Corporation; Honeywell International Inc.; and SAP SE.
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and a country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Digital Logistics Market - By Systems
1.3.2 Digital Logistics Market - By Application
1.3.3 Digital Logistics Market - By End Users
1.3.4 Digital Logistics Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DIGITAL LOGISTICS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. DIGITAL LOGISTICS 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. DIGITAL LOGISTICS MARKET - GLOBAL MARKET ANALYSIS
6.1. DIGITAL LOGISTICS - GLOBAL MARKET OVERVIEW
6.2. DIGITAL LOGISTICS - GLOBAL MARKET AND FORECAST TO 2027
6.3. MARKET POSITIONING/MARKET SHARE
7. DIGITAL LOGISTICS MARKET - REVENUE AND FORECASTS TO 2027 - SYSTEMS
7.1. OVERVIEW
7.2. SYSTEMS MARKET FORECASTS AND ANALYSIS
7.3. ELECTRONIC DATA INTERCHANGE
7.3.1. Overview
7.3.2. Electronic Data Interchange Market Forecast and Analysis
7.4. ORDER MANAGEMENT
7.4.1. Overview
7.4.2. Order Management Market Forecast and Analysis
7.5. TRACKING AND MONITORING
7.5.1. Overview
7.5.2. Tracking and Monitoring Market Forecast and Analysis
7.6. DATABASE MANAGEMENT
7.6.1. Overview
7.6.2. Database Management Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. DIGITAL LOGISTICS MARKET - REVENUE AND FORECASTS TO 2027 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. LABOR MANAGEMENT
8.3.1. Overview
8.3.2. Labor Management Market Forecast and Analysis
8.4. WAREHOUSE MANAGEMENT
8.4.1. Overview
8.4.2. Warehouse Management Market Forecast and Analysis
8.5. TRANSPORTATION MANAGEMENT
8.5.1. Overview
8.5.2. Transportation Management Market Forecast and Analysis
9. DIGITAL LOGISTICS MARKET - REVENUE AND FORECASTS TO 2027 - END USERS
9.1. OVERVIEW
9.2. END USERS MARKET FORECASTS AND ANALYSIS
9.3. AEROSPACE
9.3.1. Overview
9.3.2. Aerospace Market Forecast and Analysis
9.4. RETAIL AND CONSUMER GOODS
9.4.1. Overview
9.4.2. Retail and Consumer Goods Market Forecast and Analysis
9.5. HEALTHCARE
9.5.1. Overview
9.5.2. Healthcare Market Forecast and Analysis
9.6. INDUSTRIAL
9.6.1. Overview
9.6.2. Industrial Market Forecast and Analysis
9.7. IT AND TELECOM
9.7.1. Overview
9.7.2. IT and Telecom Market Forecast and Analysis
9.8. MANUFACTURING
9.8.1. Overview
9.8.2. Manufacturing Market Forecast and Analysis
9.9. OTHERS
9.9.1. Overview
9.9.2. Others Market Forecast and Analysis
10. DIGITAL LOGISTICS MARKET REVENUE AND FORECASTS TO 2027 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Digital Logistics Market Overview
10.1.2 North America Digital Logistics Market Forecasts and Analysis
10.1.3 North America Digital Logistics Market Forecasts and Analysis - By Systems
10.1.4 North America Digital Logistics Market Forecasts and Analysis - By Application
10.1.5 North America Digital Logistics Market Forecasts and Analysis - By End Users
10.1.6 North America Digital Logistics Market Forecasts and Analysis - By Countries
10.1.6.1 United States Digital Logistics Market
10.1.6.1.1 United States Digital Logistics Market by Systems
10.1.6.1.2 United States Digital Logistics Market by Application
10.1.6.1.3 United States Digital Logistics Market by End Users
10.1.6.2 Canada Digital Logistics Market
10.1.6.2.1 Canada Digital Logistics Market by Systems
10.1.6.2.2 Canada Digital Logistics Market by Application
10.1.6.2.3 Canada Digital Logistics Market by End Users
10.1.6.3 Mexico Digital Logistics Market
10.1.6.3.1 Mexico Digital Logistics Market by Systems
10.1.6.3.2 Mexico Digital Logistics Market by Application
10.1.6.3.3 Mexico Digital Logistics Market by End Users
10.2. EUROPE
10.2.1 Europe Digital Logistics Market Overview
10.2.2 Europe Digital Logistics Market Forecasts and Analysis
10.2.3 Europe Digital Logistics Market Forecasts and Analysis - By Systems
10.2.4 Europe Digital Logistics Market Forecasts and Analysis - By Application
10.2.5 Europe Digital Logistics Market Forecasts and Analysis - By End Users
10.2.6 Europe Digital Logistics Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Digital Logistics Market
10.2.6.1.1 Germany Digital Logistics Market by Systems
10.2.6.1.2 Germany Digital Logistics Market by Application
10.2.6.1.3 Germany Digital Logistics Market by End Users
10.2.6.2 France Digital Logistics Market
10.2.6.2.1 France Digital Logistics Market by Systems
10.2.6.2.2 France Digital Logistics Market by Application
10.2.6.2.3 France Digital Logistics Market by End Users
10.2.6.3 Italy Digital Logistics Market
10.2.6.3.1 Italy Digital Logistics Market by Systems
10.2.6.3.2 Italy Digital Logistics Market by Application
10.2.6.3.3 Italy Digital Logistics Market by End Users
10.2.6.4 United Kingdom Digital Logistics Market
10.2.6.4.1 United Kingdom Digital Logistics Market by Systems
10.2.6.4.2 United Kingdom Digital Logistics Market by Application
10.2.6.4.3 United Kingdom Digital Logistics Market by End Users
10.2.6.5 Russia Digital Logistics Market
10.2.6.5.1 Russia Digital Logistics Market by Systems
10.2.6.5.2 Russia Digital Logistics Market by Application
10.2.6.5.3 Russia Digital Logistics Market by End Users
10.2.6.6 Rest of Europe Digital Logistics Market
10.2.6.6.1 Rest of Europe Digital Logistics Market by Systems
10.2.6.6.2 Rest of Europe Digital Logistics Market by Application
10.2.6.6.3 Rest of Europe Digital Logistics Market by End Users
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Digital Logistics Market Overview
10.3.2 Asia-Pacific Digital Logistics Market Forecasts and Analysis
10.3.3 Asia-Pacific Digital Logistics Market Forecasts and Analysis - By Systems
10.3.4 Asia-Pacific Digital Logistics Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Digital Logistics Market Forecasts and Analysis - By End Users
10.3.6 Asia-Pacific Digital Logistics Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Digital Logistics Market
10.3.6.1.1 Australia Digital Logistics Market by Systems
10.3.6.1.2 Australia Digital Logistics Market by Application
10.3.6.1.3 Australia Digital Logistics Market by End Users
10.3.6.2 China Digital Logistics Market
10.3.6.2.1 China Digital Logistics Market by Systems
10.3.6.2.2 China Digital Logistics Market by Application
10.3.6.2.3 China Digital Logistics Market by End Users
10.3.6.3 India Digital Logistics Market
10.3.6.3.1 India Digital Logistics Market by Systems
10.3.6.3.2 India Digital Logistics Market by Application
10.3.6.3.3 India Digital Logistics Market by End Users
10.3.6.4 Japan Digital Logistics Market
10.3.6.4.1 Japan Digital Logistics Market by Systems
10.3.6.4.2 Japan Digital Logistics Market by Application
10.3.6.4.3 Japan Digital Logistics Market by End Users
10.3.6.5 South Korea Digital Logistics Market
10.3.6.5.1 South Korea Digital Logistics Market by Systems
10.3.6.5.2 South Korea Digital Logistics Market by Application
10.3.6.5.3 South Korea Digital Logistics Market by End Users
10.3.6.6 Rest of Asia-Pacific Digital Logistics Market
10.3.6.6.1 Rest of Asia-Pacific Digital Logistics Market by Systems
10.3.6.6.2 Rest of Asia-Pacific Digital Logistics Market by Application
10.3.6.6.3 Rest of Asia-Pacific Digital Logistics Market by End Users
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Digital Logistics Market Overview
10.4.2 Middle East and Africa Digital Logistics Market Forecasts and Analysis
10.4.3 Middle East and Africa Digital Logistics Market Forecasts and Analysis - By Systems
10.4.4 Middle East and Africa Digital Logistics Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Digital Logistics Market Forecasts and Analysis - By End Users
10.4.6 Middle East and Africa Digital Logistics Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Digital Logistics Market
10.4.6.1.1 South Africa Digital Logistics Market by Systems
10.4.6.1.2 South Africa Digital Logistics Market by Application
10.4.6.1.3 South Africa Digital Logistics Market by End Users
10.4.6.2 Saudi Arabia Digital Logistics Market
10.4.6.2.1 Saudi Arabia Digital Logistics Market by Systems
10.4.6.2.2 Saudi Arabia Digital Logistics Market by Application
10.4.6.2.3 Saudi Arabia Digital Logistics Market by End Users
10.4.6.3 U.A.E Digital Logistics Market
10.4.6.3.1 U.A.E Digital Logistics Market by Systems
10.4.6.3.2 U.A.E Digital Logistics Market by Application
10.4.6.3.3 U.A.E Digital Logistics Market by End Users
10.4.6.4 Rest of Middle East and Africa Digital Logistics Market
10.4.6.4.1 Rest of Middle East and Africa Digital Logistics Market by Systems
10.4.6.4.2 Rest of Middle East and Africa Digital Logistics Market by Application
10.4.6.4.3 Rest of Middle East and Africa Digital Logistics Market by End Users
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Digital Logistics Market Overview
10.5.2 South and Central America Digital Logistics Market Forecasts and Analysis
10.5.3 South and Central America Digital Logistics Market Forecasts and Analysis - By Systems
10.5.4 South and Central America Digital Logistics Market Forecasts and Analysis - By Application
10.5.5 South and Central America Digital Logistics Market Forecasts and Analysis - By End Users
10.5.6 South and Central America Digital Logistics Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Digital Logistics Market
10.5.6.1.1 Brazil Digital Logistics Market by Systems
10.5.6.1.2 Brazil Digital Logistics Market by Application
10.5.6.1.3 Brazil Digital Logistics Market by End Users
10.5.6.2 Argentina Digital Logistics Market
10.5.6.2.1 Argentina Digital Logistics Market by Systems
10.5.6.2.2 Argentina Digital Logistics Market by Application
10.5.6.2.3 Argentina Digital Logistics Market by End Users
10.5.6.3 Rest of South and Central America Digital Logistics Market
10.5.6.3.1 Rest of South and Central America Digital Logistics Market by Systems
10.5.6.3.2 Rest of South and Central America Digital Logistics Market by Application
10.5.6.3.3 Rest of South and Central America Digital Logistics Market by End Users
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. DIGITAL LOGISTICS MARKET, KEY COMPANY PROFILES
12.1. ACCENTURE
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. ADVANTECH CO., LTD.
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. DIGILOGISTICS TECHNOLOGY 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. HEXAWARE TECHNOLOGIES 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. IBM CORPORATION
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. ORACLE
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. SAMSUNG
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. SAP SE
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 DIGITAL LOGISTICS GMBH
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. TECH MAHINDRA LIMITED
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
The List of Companies
1. Accenture
2. Advantech Co., Ltd.
3. DigiLogistics Technology Ltd.
4. Hexaware Technologies Limited
5. IBM Corporation
6. Oracle
7. Samsung
8. SAP SE
9. Siemens Digital Logistics GmbH
10. Tech Mahindra Limited
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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