Electric Scooty Battery Market Scope and Size by 2031
MARKET OVERVIEW
An electric scooty battery is a power storage unit used to provide power to the DC motor, lights, controller, and other scooter accessories. It is comprised of individual cells and electronics called a battery management system that helps operating safely with high energy density and longer durability. The extremely high volatility in oil prices coupled with growing shift towards battery-operated lightweight electric vehicles are the key factors propelling the demand for electric scooty battery market. In addition, the associated advantages such as less maintenance expense, highly affordable last-mile transportation, enhanced comfort and safety as compared to fueled vehicles are also driving the market dynamics for electric scooty battery market.
MARKET SCOPE
The "Global Electric Scooty Battery Market Analysis to 2031" is a specialized and in-depth study of the storage and distribution industry with a special focus on the global market trend analysis. The report aims to provide an overview of the electric scooty battery market with detailed market segmentation by product type, capacity, and geography. The report provides key statistics on the market status of the leading electric scooty battery market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of product type the market is segmented into Lithium-Ion (Li-ion), Lithium Iron Phosphate (LFP), Lithium Polymer (LiPo), Sealed Lead Acid Battery (SLA), and Nickel Metal Hydride (NiMH)
- On the basis capacity, the market is segmented as 100-500 Wh, 500-1000 Wh, 1000-1500 Wh, 1500-2000 Wh, and 2000 Wh & Above
MARKET DYNAMICS
Drivers:
- Increasing demand for light weight electric vehicles is driving the market growth
- The government incentives and tax benefits is further boosting the adoption of electric bikes or scooty's
Restraints:
- Several safety related concerns for passengers and drivers is restraining the global electric scooty battery market.
REGIONAL FRAMEWORK Naveen Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The electric scooty battery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the electric scooty battery market in these regions.
IMPACT OF COVID-19 ON ELECTRIC SCOOTY BATTERY MARKET
The outbreak of the COVID-19 has severely impacted the energy and power industries, which resulted in lower sales of electric scooty batteries in the year 2021. The COVID-19 pandemic has hampered electric scooter production and sales, as all manufacturing and research facilities were closed due to global lockdowns. Moreover, a shortage of raw material supply required for battery and vehicle manufacturing was experienced due to disruption of supply chain and transportation channel across the globe, which, in turn, hampered the market. However, in pandemic recovery period various government had announced favourable policies along with several relief packages for the adoption of electric vehicles which is fueling the electric scooty production which in turn drives the demand for electric scooty batteries that propels the market growth. For instance, in February 2022, the Central Government of India had proposed to introduce a battery swapping policy to encourage buyers to opt for electric vehicles. In pandemic recovery period, the upcoming investment trend in the electric vehicle industry had fueled the new entrants to enter into the market. The new launches of vehicles will come from Ultraviolette, Nexzu, Hop, Prevail, Emflux and among other players. Thus, such supportive regulations followed by investment from new entrants are posing potential opportunity for the market growth.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The electric scooty battery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the electric scooty battery market in these regions.
IMPACT OF COVID-19 ON ELECTRIC SCOOTY BATTERY MARKET
The outbreak of the COVID-19 has severely impacted the energy and power industries, which resulted in lower sales of electric scooty batteries in the year 2021. The COVID-19 pandemic has hampered electric scooter production and sales, as all manufacturing and research facilities were closed due to global lockdowns. Moreover, a shortage of raw material supply required for battery and vehicle manufacturing was experienced due to disruption of supply chain and transportation channel across the globe, which, in turn, hampered the market. However, in pandemic recovery period various government had announced favourable policies along with several relief packages for the adoption of electric vehicles which is fueling the electric scooty production which in turn drives the demand for electric scooty batteries that propels the market growth. For instance, in February 2022, the Central Government of India had proposed to introduce a battery swapping policy to encourage buyers to opt for electric vehicles. In pandemic recovery period, the upcoming investment trend in the electric vehicle industry had fueled the new entrants to enter into the market. The new launches of vehicles will come from Ultraviolette, Nexzu, Hop, Prevail, Emflux and among other players. Thus, such supportive regulations followed by investment from new entrants are posing potential opportunity for the market growth.
MARKET PLAYERS
The report covers key developments in the electric scooty battery market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in the electric scooty battery market are anticipated to provide lucrative growth opportunities in the future with the rising demand for electric scooty battery in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the electric scooty battery market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Contemporary Amperex Technology Co., Limited.
- Hunan CTS Technology Co. ltd.
- LG Energy Solution
- Maxvoltenergy
- Pastiche Energy Solutions
- SAMSUNG SDI CO.,LTD.
- SMARTPROPEL
- Wanxiang Import & Export Co. Ltd.
- Siam GS Sales Co., Ltd.
- ENVISION AESC GROUP LTD.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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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.
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 Electric Scooty Battery Market - By Product Type
1.3.2 Electric Scooty Battery Market - By Capacity
1.3.3 Electric Scooty Battery Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTRIC SCOOTY BATTERY 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. ELECTRIC SCOOTY BATTERY 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. ELECTRIC SCOOTY BATTERY MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTRIC SCOOTY BATTERY - GLOBAL MARKET OVERVIEW
6.2. ELECTRIC SCOOTY BATTERY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ELECTRIC SCOOTY BATTERY MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. LITHIUM-ION (LI-ION)
7.3.1. Overview
7.3.2. Lithium-Ion (Li-ion) Market Forecast and Analysis
7.4. LITHIUM IRON PHOSPHATE (LFP)
7.4.1. Overview
7.4.2. Lithium Iron Phosphate (LFP) Market Forecast and Analysis
7.5. LITHIUM POLYMER (LIPO)
7.5.1. Overview
7.5.2. Lithium Polymer (LiPo) Market Forecast and Analysis
7.6. SEALED LEAD ACID BATTERY (SLA)
7.6.1. Overview
7.6.2. Sealed Lead Acid Battery (SLA) Market Forecast and Analysis
7.7. NICKEL METAL HYDRIDE (NIMH)
7.7.1. Overview
7.7.2. Nickel Metal Hydride (NiMH) Market Forecast and Analysis
8. ELECTRIC SCOOTY BATTERY MARKET - REVENUE AND FORECASTS TO 2028 - CAPACITY
8.1. OVERVIEW
8.2. CAPACITY MARKET FORECASTS AND ANALYSIS
8.3. 100-500 WH
8.3.1. Overview
8.3.2. 100-500 Wh Market Forecast and Analysis
8.4. 500-1000 WH
8.4.1. Overview
8.4.2. 500-1000 Wh Market Forecast and Analysis
8.5. 1000-1500 WH
8.5.1. Overview
8.5.2. 1000-1500 Wh Market Forecast and Analysis
8.6. 1500-2000 WH
8.6.1. Overview
8.6.2. 1500-2000 Wh Market Forecast and Analysis
8.7. 2000 WH AND ABOVE
8.7.1. Overview
8.7.2. 2000 Wh and Above Market Forecast and Analysis
9. ELECTRIC SCOOTY BATTERY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Electric Scooty Battery Market Overview
9.1.2 North America Electric Scooty Battery Market Forecasts and Analysis
9.1.3 North America Electric Scooty Battery Market Forecasts and Analysis - By Product Type
9.1.4 North America Electric Scooty Battery Market Forecasts and Analysis - By Capacity
9.1.5 North America Electric Scooty Battery Market Forecasts and Analysis - By Countries
9.1.5.1 United States Electric Scooty Battery Market
9.1.5.1.1 United States Electric Scooty Battery Market by Product Type
9.1.5.1.2 United States Electric Scooty Battery Market by Capacity
9.1.5.2 Canada Electric Scooty Battery Market
9.1.5.2.1 Canada Electric Scooty Battery Market by Product Type
9.1.5.2.2 Canada Electric Scooty Battery Market by Capacity
9.1.5.3 Mexico Electric Scooty Battery Market
9.1.5.3.1 Mexico Electric Scooty Battery Market by Product Type
9.1.5.3.2 Mexico Electric Scooty Battery Market by Capacity
9.2. EUROPE
9.2.1 Europe Electric Scooty Battery Market Overview
9.2.2 Europe Electric Scooty Battery Market Forecasts and Analysis
9.2.3 Europe Electric Scooty Battery Market Forecasts and Analysis - By Product Type
9.2.4 Europe Electric Scooty Battery Market Forecasts and Analysis - By Capacity
9.2.5 Europe Electric Scooty Battery Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Electric Scooty Battery Market
9.2.5.1.1 Germany Electric Scooty Battery Market by Product Type
9.2.5.1.2 Germany Electric Scooty Battery Market by Capacity
9.2.5.2 France Electric Scooty Battery Market
9.2.5.2.1 France Electric Scooty Battery Market by Product Type
9.2.5.2.2 France Electric Scooty Battery Market by Capacity
9.2.5.3 Italy Electric Scooty Battery Market
9.2.5.3.1 Italy Electric Scooty Battery Market by Product Type
9.2.5.3.2 Italy Electric Scooty Battery Market by Capacity
9.2.5.4 United Kingdom Electric Scooty Battery Market
9.2.5.4.1 United Kingdom Electric Scooty Battery Market by Product Type
9.2.5.4.2 United Kingdom Electric Scooty Battery Market by Capacity
9.2.5.5 Russia Electric Scooty Battery Market
9.2.5.5.1 Russia Electric Scooty Battery Market by Product Type
9.2.5.5.2 Russia Electric Scooty Battery Market by Capacity
9.2.5.6 Rest of Europe Electric Scooty Battery Market
9.2.5.6.1 Rest of Europe Electric Scooty Battery Market by Product Type
9.2.5.6.2 Rest of Europe Electric Scooty Battery Market by Capacity
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Electric Scooty Battery Market Overview
9.3.2 Asia-Pacific Electric Scooty Battery Market Forecasts and Analysis
9.3.3 Asia-Pacific Electric Scooty Battery Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Electric Scooty Battery Market Forecasts and Analysis - By Capacity
9.3.5 Asia-Pacific Electric Scooty Battery Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Electric Scooty Battery Market
9.3.5.1.1 Australia Electric Scooty Battery Market by Product Type
9.3.5.1.2 Australia Electric Scooty Battery Market by Capacity
9.3.5.2 China Electric Scooty Battery Market
9.3.5.2.1 China Electric Scooty Battery Market by Product Type
9.3.5.2.2 China Electric Scooty Battery Market by Capacity
9.3.5.3 India Electric Scooty Battery Market
9.3.5.3.1 India Electric Scooty Battery Market by Product Type
9.3.5.3.2 India Electric Scooty Battery Market by Capacity
9.3.5.4 Japan Electric Scooty Battery Market
9.3.5.4.1 Japan Electric Scooty Battery Market by Product Type
9.3.5.4.2 Japan Electric Scooty Battery Market by Capacity
9.3.5.5 South Korea Electric Scooty Battery Market
9.3.5.5.1 South Korea Electric Scooty Battery Market by Product Type
9.3.5.5.2 South Korea Electric Scooty Battery Market by Capacity
9.3.5.6 Rest of Asia-Pacific Electric Scooty Battery Market
9.3.5.6.1 Rest of Asia-Pacific Electric Scooty Battery Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Electric Scooty Battery Market by Capacity
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Electric Scooty Battery Market Overview
9.4.2 Middle East and Africa Electric Scooty Battery Market Forecasts and Analysis
9.4.3 Middle East and Africa Electric Scooty Battery Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Electric Scooty Battery Market Forecasts and Analysis - By Capacity
9.4.5 Middle East and Africa Electric Scooty Battery Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Electric Scooty Battery Market
9.4.5.1.1 South Africa Electric Scooty Battery Market by Product Type
9.4.5.1.2 South Africa Electric Scooty Battery Market by Capacity
9.4.5.2 Saudi Arabia Electric Scooty Battery Market
9.4.5.2.1 Saudi Arabia Electric Scooty Battery Market by Product Type
9.4.5.2.2 Saudi Arabia Electric Scooty Battery Market by Capacity
9.4.5.3 U.A.E Electric Scooty Battery Market
9.4.5.3.1 U.A.E Electric Scooty Battery Market by Product Type
9.4.5.3.2 U.A.E Electric Scooty Battery Market by Capacity
9.4.5.4 Rest of Middle East and Africa Electric Scooty Battery Market
9.4.5.4.1 Rest of Middle East and Africa Electric Scooty Battery Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Electric Scooty Battery Market by Capacity
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Electric Scooty Battery Market Overview
9.5.2 South and Central America Electric Scooty Battery Market Forecasts and Analysis
9.5.3 South and Central America Electric Scooty Battery Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Electric Scooty Battery Market Forecasts and Analysis - By Capacity
9.5.5 South and Central America Electric Scooty Battery Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Electric Scooty Battery Market
9.5.5.1.1 Brazil Electric Scooty Battery Market by Product Type
9.5.5.1.2 Brazil Electric Scooty Battery Market by Capacity
9.5.5.2 Argentina Electric Scooty Battery Market
9.5.5.2.1 Argentina Electric Scooty Battery Market by Product Type
9.5.5.2.2 Argentina Electric Scooty Battery Market by Capacity
9.5.5.3 Rest of South and Central America Electric Scooty Battery Market
9.5.5.3.1 Rest of South and Central America Electric Scooty Battery Market by Product Type
9.5.5.3.2 Rest of South and Central America Electric Scooty Battery Market by Capacity
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. ELECTRIC SCOOTY BATTERY MARKET, KEY COMPANY PROFILES
11.1. CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED.
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. HUNAN CTS TECHNOLOGY CO. 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. LG ENERGY SOLUTION
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. MAXVOLTENERGY
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. PASTICHE ENERGY SOLUTIONS
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. SAMSUNG SDI CO.,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. SMARTPROPEL
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. WANXIANG IMPORT AND EXPORT CO. 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. SIAM GS SALES CO., 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
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1.Contemporary Amperex Technology Co., Limited.
2.Hunan CTS Technology Co. ltd.
3.LG Energy Solution
4.Maxvoltenergy
5.Pastiche Energy Solutions
6.Samsung SDI CO.,LTD.
7.SMARTPROPEL
8.Wanxiang Import and Export Co. Ltd.
9.Siam GS Sales Co., 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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