Dog Kennel or Crates Market Updates by 2031
The Dog Kennel or Crates Market is expected to register a CAGR of 8.4% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The global market for Dog Kennel or Crates is a dynamic, growing sector, fostered by an increasing increase in popularity in pet ownership and a growing awareness of pet welfare. This report offers a highly thorough analysis of the market, covering all aspects of the current state, future trends, and the key players. The various types of dog kennels and crates, which include metal, plastic, wooden, and fabric, can also be discussed regarding their applications in training, travel, or containment. The factors affecting growth, including changing consumer preferences and technologies, as well as regulatory frameworks, have also been checked. Stakeholders can then make informed decisions based on key trends and challenges shaping the market.
Purpose of the ReportThe report Dog Kennel or Crates 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.
Dog Kennel or Crates Market Segmentation
Material- Metal
- Wooden
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
Strategic Insights
Dog Kennel or Crates Market Growth Drivers- Increased Pet Ownership: The increasing number of pet owners, especially in urban areas, is a major driving force for the dog kennels and crates market. With more people adopting dogs as pets, the need for safe and secure spaces for dogs at home, during travel, or while being transported increases, leading to a higher demand for kennels and crates.
- Focus on Pet Safety and Comfort: Pet owners are becoming more conscious of the need to provide safe and comfortable spaces for their pets. Dog kennels and crates are important for keeping pets safe, whether it is during training, travel, or when the owner is away from home. The interest in pet safety and well-being is driving the demand for quality, comfortable, and durable kennels and crates.
- Increasing Demand for Pet Travel: With the increase in traveling with pets, particularly by air, road trip, and vacations, travel-friendly dog crates and kennels are in high demand. Airlines and other transportation services require pets to travel in specific types of crates that meet safety and comfort standards, thereby fueling the market growth.
- Urbanization and smaller living spaces: With more people moving into apartments or smaller houses due to urbanization, there is a greater need for compact, portable dog crates and kennels to fit into limited living spaces. Furthermore, many urban pet owners use dog crates as a training tool and safe place to confine their dogs while away at work, which heightens the demand for these products.
- Focus on customization and personalization: Consumers want kennels and crates that fulfill their practical applications and harmonize the style ideals of home decoration and lifestyle. The producers have responded to this call with all their product options through the changes in style, color, and material to suit any given individual's preference.
- Technology Integration: The use of smart technology in pet kennels is highly dominant. A smart kennel includes remote monitoring, automatic feeding, and climate control. It is one of those modern products that's meant to bring convenience and serenity to people spending most of their time outside.
- Sustainability and Green Practices: The emerging need for sustainability and green practices is fueling the dog kennel and crates market. Consumers are demanding product lines made out of sustainable materials, with a manufacturing process that is soundly ethical. Manufacturers are responding with product lines made from environmentally friendly materials, like recycled plastics and eco-friendly wood. As the citizenry becomes more sensitized to issues of animal welfare and the environment, there could be an increase in demand for dog kennels and crates whose end-cleavage properties are sustainable.
- Online Retail Growth: The growth in the e-commerce sector would lead to a significant opportunity for dog kennels and crate providers. Consumers are shifting and increasingly buying pet-related goods, including dog crates online. Online retailers will tend to offer convenience, making online shopping more available compared to other products, leading manufacturers to have detailed online information to reach these kinds of consumers, specifically more youthful, savvy customers.
- Focus on Luxury and Premium Products: There is an opportunity to target the increasing demand for luxurious pet products. High-quality luxury dog kennels and crates that provide comfort, design, and added features such as built-in beds or systems for heating or cooling have an appeal to high-income pet owners. Luxury products that are both functional and aesthetically pleasing can be expected to continue on the growth path. They can easily be assembled and reconstructed according to different sizes of dogs or a particular purpose, such as training, travel, or temporary sleeping. Multifunctional kennels and crates are becoming more and more popular, therefore simultaneously sleeping places and playpens. Such diverse products may meet the diverse needs of a modern pet owner.
- Integration of Smart Technology: The integration of smart technology into the dog kennel and crates will open innovation to make goods that are desirable to the current tech-hungry society. Features may include GPS tracking, the ability to alter temperature remotely and monitor the usage through applications on mobile. This enhances the comfortability and security of the owner's pets when the pet owner leaves for a little while as well.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Dog Kennel or Crates 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 Dog Kennel or Crates 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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- 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
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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
Dog Kennel or Crates Market is expected to grow at a CAGR of 8.4% between 2023-2031
The global dog kennel or crates market is mostly influenced by several factors. General pet ownership rates, especially for the younger crowds, are significantly increasing, hence growing the market. With continuously increasing disposable income and lifestyles, consumers are getting more capable of investing in a wide variety of premium pet products, including high-quality kennels and crates. In addition, growing awareness about pet welfare and the demand for safe and secure environments for dogs are creating demand for it. There has also been an increasing trend of pet travel that is driving the market. Pet owners are seeking convenient and safe transportation solutions for their furry friends.
The future of dog kennels or crates appears promising with adequate growth happening due to several emerging trends. Customization and personalization are at the forefront of kennels and crates, while consumers seek a kennel that may reflect their specific desires and designs within a home. Smart technology integration has quickly gained momentum, emphasizing remote access for monitoring, automated feeding, and climate control features in these kennels. And on the sustainability side, consumers increasingly look for products crafted from sustainable materials and manufactured using responsible processes. As awareness of animal welfare and environmental issues increases among consumers, the demand for sustainable dog kennels and crates is likely to be higher.
The leading players of the market are: Aristoplast Products Pvt. Ltd., Cajon Plast Pvt. Ltd., Croma Plast Pvt. Ltd., Galaxy Polymers, K.M.S. Plastworld Pvt. Ltd., Maha Technoplast Pvt. Ltd., Nilkamal Ltd., Samruddhi Industries Ltd., Sintex Plastics Technology Ltd., The Supreme Industries Ltd.
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 request are 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
1.3.1 Dog Kennel Or Crates Market - By Material
1.3.2 Dog Kennel Or Crates Market - By Distribution Channel
1.3.3 Dog Kennel Or Crates Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DOG KENNEL OR CRATES 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. EXPERT OPINIONS
5. DOG KENNEL OR CRATES 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. DOG KENNEL OR CRATES MARKET - GLOBAL MARKET ANALYSIS
6.1. DOG KENNEL OR CRATES - GLOBAL MARKET OVERVIEW
6.2. DOG KENNEL OR CRATES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. DOG KENNEL OR CRATES MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
7.1. OVERVIEW
7.2. MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. METAL
7.3.1. Overview
7.3.2. Metal Market Forecast and Analysis
7.4. WOODEN
7.4.1. Overview
7.4.2. Wooden Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. DOG KENNEL OR CRATES MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
8.1. OVERVIEW
8.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
8.3. SUPERMARKETS AND HYPERMARKETS
8.3.1. Overview
8.3.2. Supermarkets and Hypermarkets Market Forecast and Analysis
8.4. SPECIALTY STORES
8.4.1. Overview
8.4.2. Specialty Stores Market Forecast and Analysis
8.5. ONLINE RETAIL
8.5.1. Overview
8.5.2. Online Retail Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. DOG KENNEL OR CRATES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Dog Kennel Or Crates Market Overview
9.1.2 North America Dog Kennel Or Crates Market Forecasts and Analysis
9.1.3 North America Dog Kennel Or Crates Market Forecasts and Analysis - By Material
9.1.4 North America Dog Kennel Or Crates Market Forecasts and Analysis - By Distribution Channel
9.1.5 North America Dog Kennel Or Crates Market Forecasts and Analysis - By Countries
9.1.5.1 United States Dog Kennel Or Crates Market
9.1.5.1.1 United States Dog Kennel Or Crates Market by Material
9.1.5.1.2 United States Dog Kennel Or Crates Market by Distribution Channel
9.1.5.2 Canada Dog Kennel Or Crates Market
9.1.5.2.1 Canada Dog Kennel Or Crates Market by Material
9.1.5.2.2 Canada Dog Kennel Or Crates Market by Distribution Channel
9.1.5.3 Mexico Dog Kennel Or Crates Market
9.1.5.3.1 Mexico Dog Kennel Or Crates Market by Material
9.1.5.3.2 Mexico Dog Kennel Or Crates Market by Distribution Channel
9.2. EUROPE
9.2.1 Europe Dog Kennel Or Crates Market Overview
9.2.2 Europe Dog Kennel Or Crates Market Forecasts and Analysis
9.2.3 Europe Dog Kennel Or Crates Market Forecasts and Analysis - By Material
9.2.4 Europe Dog Kennel Or Crates Market Forecasts and Analysis - By Distribution Channel
9.2.5 Europe Dog Kennel Or Crates Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Dog Kennel Or Crates Market
9.2.5.1.1 Germany Dog Kennel Or Crates Market by Material
9.2.5.1.2 Germany Dog Kennel Or Crates Market by Distribution Channel
9.2.5.2 France Dog Kennel Or Crates Market
9.2.5.2.1 France Dog Kennel Or Crates Market by Material
9.2.5.2.2 France Dog Kennel Or Crates Market by Distribution Channel
9.2.5.3 Italy Dog Kennel Or Crates Market
9.2.5.3.1 Italy Dog Kennel Or Crates Market by Material
9.2.5.3.2 Italy Dog Kennel Or Crates Market by Distribution Channel
9.2.5.4 United Kingdom Dog Kennel Or Crates Market
9.2.5.4.1 United Kingdom Dog Kennel Or Crates Market by Material
9.2.5.4.2 United Kingdom Dog Kennel Or Crates Market by Distribution Channel
9.2.5.5 Russia Dog Kennel Or Crates Market
9.2.5.5.1 Russia Dog Kennel Or Crates Market by Material
9.2.5.5.2 Russia Dog Kennel Or Crates Market by Distribution Channel
9.2.5.6 Rest of Europe Dog Kennel Or Crates Market
9.2.5.6.1 Rest of Europe Dog Kennel Or Crates Market by Material
9.2.5.6.2 Rest of Europe Dog Kennel Or Crates Market by Distribution Channel
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Dog Kennel Or Crates Market Overview
9.3.2 Asia-Pacific Dog Kennel Or Crates Market Forecasts and Analysis
9.3.3 Asia-Pacific Dog Kennel Or Crates Market Forecasts and Analysis - By Material
9.3.4 Asia-Pacific Dog Kennel Or Crates Market Forecasts and Analysis - By Distribution Channel
9.3.5 Asia-Pacific Dog Kennel Or Crates Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Dog Kennel Or Crates Market
9.3.5.1.1 Australia Dog Kennel Or Crates Market by Material
9.3.5.1.2 Australia Dog Kennel Or Crates Market by Distribution Channel
9.3.5.2 China Dog Kennel Or Crates Market
9.3.5.2.1 China Dog Kennel Or Crates Market by Material
9.3.5.2.2 China Dog Kennel Or Crates Market by Distribution Channel
9.3.5.3 India Dog Kennel Or Crates Market
9.3.5.3.1 India Dog Kennel Or Crates Market by Material
9.3.5.3.2 India Dog Kennel Or Crates Market by Distribution Channel
9.3.5.4 Japan Dog Kennel Or Crates Market
9.3.5.4.1 Japan Dog Kennel Or Crates Market by Material
9.3.5.4.2 Japan Dog Kennel Or Crates Market by Distribution Channel
9.3.5.5 South Korea Dog Kennel Or Crates Market
9.3.5.5.1 South Korea Dog Kennel Or Crates Market by Material
9.3.5.5.2 South Korea Dog Kennel Or Crates Market by Distribution Channel
9.3.5.6 Rest of Asia-Pacific Dog Kennel Or Crates Market
9.3.5.6.1 Rest of Asia-Pacific Dog Kennel Or Crates Market by Material
9.3.5.6.2 Rest of Asia-Pacific Dog Kennel Or Crates Market by Distribution Channel
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Dog Kennel Or Crates Market Overview
9.4.2 Middle East and Africa Dog Kennel Or Crates Market Forecasts and Analysis
9.4.3 Middle East and Africa Dog Kennel Or Crates Market Forecasts and Analysis - By Material
9.4.4 Middle East and Africa Dog Kennel Or Crates Market Forecasts and Analysis - By Distribution Channel
9.4.5 Middle East and Africa Dog Kennel Or Crates Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Dog Kennel Or Crates Market
9.4.5.1.1 South Africa Dog Kennel Or Crates Market by Material
9.4.5.1.2 South Africa Dog Kennel Or Crates Market by Distribution Channel
9.4.5.2 Saudi Arabia Dog Kennel Or Crates Market
9.4.5.2.1 Saudi Arabia Dog Kennel Or Crates Market by Material
9.4.5.2.2 Saudi Arabia Dog Kennel Or Crates Market by Distribution Channel
9.4.5.3 U.A.E Dog Kennel Or Crates Market
9.4.5.3.1 U.A.E Dog Kennel Or Crates Market by Material
9.4.5.3.2 U.A.E Dog Kennel Or Crates Market by Distribution Channel
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Dog Kennel Or Crates Market Overview
9.5.2 South and Central America Dog Kennel Or Crates Market Forecasts and Analysis
9.5.3 South and Central America Dog Kennel Or Crates Market Forecasts and Analysis - By Material
9.5.4 South and Central America Dog Kennel Or Crates Market Forecasts and Analysis - By Distribution Channel
9.5.5 South and Central America Dog Kennel Or Crates Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Dog Kennel Or Crates Market
9.5.5.1.1 Brazil Dog Kennel Or Crates Market by Material
9.5.5.1.2 Brazil Dog Kennel Or Crates Market by Distribution Channel
9.5.5.2 Argentina Dog Kennel Or Crates Market
9.5.5.2.1 Argentina Dog Kennel Or Crates Market by Material
9.5.5.2.2 Argentina Dog Kennel Or Crates Market by Distribution Channel
9.5.5.3 Rest of South and Central America Dog Kennel Or Crates Market
9.5.5.3.1 Rest of South and Central America Dog Kennel Or Crates Market by Material
9.5.5.3.2 Rest of South and Central America Dog Kennel Or Crates Market by Distribution Channel
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. DOG KENNEL OR CRATES MARKET, KEY COMPANY PROFILES
11.1. ARISTOPLAST PRODUCTS PVT. LTD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CAJON PLAST PVT. LTD.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CROMA PLAST PVT. LTD.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. GALAXY POLYMERS
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. K.M.S. PLASTWORLD PVT. LTD.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MAHA TECHNOPLAST PVT. LTD.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NILKAMAL LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SAMRUDDHI INDUSTRIES LTD.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SINTEX PLASTICS TECHNOLOGY LTD.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. THE SUPREME INDUSTRIES LTD.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Aristoplast Products Pvt. Ltd.
2. Cajon Plast Pvt. Ltd.
3. Croma Plast Pvt. Ltd.
4. Galaxy Polymers
5. K.M.S. Plastworld Pvt. Ltd.
6. Maha Technoplast Pvt. Ltd.
7. Nilkamal Ltd.
8. Samruddhi Industries Ltd.
9. Sintex Plastics Technology Ltd.
10. The Supreme Industries Ltd.
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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