Electric Vehicle Heating System Market Size 2031
The Electric Vehicle Heating System Market is expected to register a CAGR of 6.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented into by type, and by vehicle type. Based on type, the market is divided PTC Heater, Heat Pump Heaters. Based on vehicle type, the market is divided into passenger cars and commercial vehicles.
Purpose of the Report
The report Electric Vehicle Heating 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.
Electric Vehicle Heating System Market Segmentation
Type
- PTC Heater
- Heat Pump Heaters
Vehicle Type
- Passenger Cars and Commercial Cards
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Electric Vehicle Heating System Market: Strategic Insights
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Electric Vehicle Heating System Market Growth Drivers
- Favorable Government Regulations to Enhance the Vehicles Safety: Rising government rules and regulations to enhance the vehicles safety and growing adoption of the E-mobility across the globe drives the electric vehicle heating system market growth. In North America, initiatives by the government, federal policies, and programs for various industries are expected to drive the electric vehicle wire harness market The US, Canada, and Mexico signed the trade deal NAFTA. The trade deal helping automakers with the increased number of manufacturing facilities and enhanced supply chain of auto parts. The expanding demand for hybrid and electric vehicles and increasing electrification of vehicles are the primary factors, driving the global electric vehicle wiring harness market. Stringent emission norms for vehicles are forcing OEMs to manufacture hybrid and electric vehicles to reduce the emission of harmful gases. The US Department of Transportation has set the Corporate Average Fuel Economy (CAFE) standards for vehicles. The Canadian National Safety Code (NSC) standards regulate commercial vehicles, drivers, and motor carriers in Canada. The NSC is a code of minimum performance standards for the safe operation of commercial vehicles.
- Increasing Adoption of Electric Vehicles: The global trend toward electric mobility is one of the key drivers of the electric vehicle heating system market. As electric vehicles become more popular, the demand for heating solutions grows. Heating in conventional internal combustion engine (ICE) vehicles is normally generated by engine heat, whereas EVs lack a traditional engine and must rely on electric-powered devices to keep the interior warm. The expanding EV industry, particularly in Europe, China, and North America, is directly driving demand for heating systems that provide effective cabin warmth while preserving vehicle range and battery life.
- Focus on Energy Efficiency Solutions and Range Optimization: Range anxiety is a major concern for EV owners. Heating systems have typically consumed a significant amount of electricity, therefore the issue has been to design solutions that deliver warmth without draining the battery too quickly. Advanced heating technologies, such as heat pumps and PTC heaters, are gaining popularity as energy-efficient options. These devices help to optimize energy use, ensuring that the vehicle's battery is not depleted too soon while maintaining a pleasant interior temperature. The need for energy-efficient heating systems is increasing as automakers strive to provide longer-range and more sustainable driving experiences.
Electric Vehicle Heating System Market Future Trends
- Integration of Climate Control and Battery Thermal Management: The combination of temperature control and battery thermal management systems is a prominent trend in the EV heating system market. Maintaining an ideal temperature range for EV batteries is critical to ensuring both safety and efficiency. Modern electric vehicle heating systems are increasingly intended to perform two functions: heating the interior and regulating battery temperatures. This integration improves overall vehicle performance by assuring passenger comfort and battery endurance, resulting in more efficient energy consumption and reduced strain on the EV battery.
- Use of Lightweight and Compact Heating systems: Another rising trend is the development of lightweight and compact heating systems that reduce vehicle weight while saving space. Because EVs are more sensitive to weight than standard vehicles, keeping the heating system low is critical for optimal energy efficiency and range. Manufacturers are working on building smaller, more efficient components, such as compact heat pumps and ceramic-based heaters, to ensure that heating systems do not degrade the vehicle's performance.
Electric Vehicle Heating System Market Opportunities
- Development of Advanced Heating Technologies: The development and deployment of better heating systems for electric vehicles presents a considerable opportunity. Heat pumps, for example, are developing as an energy-efficient alternative for electric vehicles, especially in colder locations. Heat pumps create heat from ambient air, consume less electricity than classic resistive heaters, and are increasingly being fitted into new EV models. Other developments, such as infrared heaters, are being investigated for their potential to heat specific areas, such as the seats or steering wheel, resulting in lower energy use compared to heating the entire cabin. Manufacturers may focus on developing and implementing creative solutions that optimize energy efficiency while minimizing the negative impact on EV range.
- Expansion of Electric Vehicle Heating System in Emerging economies: As electric vehicles acquire popularity in developed countries, the market for electric vehicle heating systems is rising in emerging economies such as India, Brazil, and Southeast Asia. While EV adoption in these regions is still in its early stages, government incentives, a demand for cleaner vehicles, and the rising availability of low-cost electric models are pushing growth. In these areas, there is a potential to create and market cost-effective, energy-efficient heating systems that are suited to the needs of local climates and infrastructure. For example, heating systems designed for hot and humid areas may differ dramatically from those required in frigid places.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Electric Vehicle Heating 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 Electric Vehicle Heating 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.
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
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to country scope.
Frequently Asked Questions
The major players in the market includes MAHLE GmbH, Hanon Systems, Valeo, Denso Corporation, Robert Bosch GmbH, Dana Incorporated, LG Chem, VOSS Automotive GmbH, Mitsubishi Heavy Industries, Modine Manufacturing, Webasto and KLC
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
High cost of the manufacturing electric heating systems hinders the market growth.
The Electric Vehicle Heating System Market is estimated to witness a CAGR of 6.5% from 2023 to 2031
The major factors driving the electric vehicle heating system market are: Rising electric vehicle sale and production across the globe, Increasing awareness regarding the active safety systems in the automotive sector drives the market growth.
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.
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 Vehicle Heating System Market - By Product Type
1.3.2 Electric Vehicle Heating System Market - By End Users
1.3.3 Electric Vehicle Heating System Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ELECTRIC VEHICLE HEATING SYSTEM 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. ELECTRIC VEHICLE HEATING 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. ELECTRIC VEHICLE HEATING SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. ELECTRIC VEHICLE HEATING SYSTEM - GLOBAL MARKET OVERVIEW
6.2. ELECTRIC VEHICLE HEATING SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ELECTRIC VEHICLE HEATING SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. PTC HEATER
7.3.1. Overview
7.3.2. PTC Heater Market Forecast and Analysis
7.4. HEAT PUMP HEATER
7.4.1. Overview
7.4.2. Heat Pump Heater Market Forecast and Analysis
8. ELECTRIC VEHICLE HEATING SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - END USERS
8.1. OVERVIEW
8.2. END USERS MARKET FORECASTS AND ANALYSIS
8.3. HEV
8.3.1. Overview
8.3.2. HEV Market Forecast and Analysis
8.4. BEV
8.4.1. Overview
8.4.2. BEV Market Forecast and Analysis
9. ELECTRIC VEHICLE HEATING SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Electric Vehicle Heating System Market Overview
9.1.2 North America Electric Vehicle Heating System Market Forecasts and Analysis
9.1.3 North America Electric Vehicle Heating System Market Forecasts and Analysis - By Product Type
9.1.4 North America Electric Vehicle Heating System Market Forecasts and Analysis - By End Users
9.1.5 North America Electric Vehicle Heating System Market Forecasts and Analysis - By Countries
9.1.5.1 United States Electric Vehicle Heating System Market
9.1.5.1.1 United States Electric Vehicle Heating System Market by Product Type
9.1.5.1.2 United States Electric Vehicle Heating System Market by End Users
9.1.5.2 Canada Electric Vehicle Heating System Market
9.1.5.2.1 Canada Electric Vehicle Heating System Market by Product Type
9.1.5.2.2 Canada Electric Vehicle Heating System Market by End Users
9.1.5.3 Mexico Electric Vehicle Heating System Market
9.1.5.3.1 Mexico Electric Vehicle Heating System Market by Product Type
9.1.5.3.2 Mexico Electric Vehicle Heating System Market by End Users
9.2. EUROPE
9.2.1 Europe Electric Vehicle Heating System Market Overview
9.2.2 Europe Electric Vehicle Heating System Market Forecasts and Analysis
9.2.3 Europe Electric Vehicle Heating System Market Forecasts and Analysis - By Product Type
9.2.4 Europe Electric Vehicle Heating System Market Forecasts and Analysis - By End Users
9.2.5 Europe Electric Vehicle Heating System Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Electric Vehicle Heating System Market
9.2.5.1.1 Germany Electric Vehicle Heating System Market by Product Type
9.2.5.1.2 Germany Electric Vehicle Heating System Market by End Users
9.2.5.2 France Electric Vehicle Heating System Market
9.2.5.2.1 France Electric Vehicle Heating System Market by Product Type
9.2.5.2.2 France Electric Vehicle Heating System Market by End Users
9.2.5.3 Italy Electric Vehicle Heating System Market
9.2.5.3.1 Italy Electric Vehicle Heating System Market by Product Type
9.2.5.3.2 Italy Electric Vehicle Heating System Market by End Users
9.2.5.4 United Kingdom Electric Vehicle Heating System Market
9.2.5.4.1 United Kingdom Electric Vehicle Heating System Market by Product Type
9.2.5.4.2 United Kingdom Electric Vehicle Heating System Market by End Users
9.2.5.5 Russia Electric Vehicle Heating System Market
9.2.5.5.1 Russia Electric Vehicle Heating System Market by Product Type
9.2.5.5.2 Russia Electric Vehicle Heating System Market by End Users
9.2.5.6 Rest of Europe Electric Vehicle Heating System Market
9.2.5.6.1 Rest of Europe Electric Vehicle Heating System Market by Product Type
9.2.5.6.2 Rest of Europe Electric Vehicle Heating System Market by End Users
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Electric Vehicle Heating System Market Overview
9.3.2 Asia-Pacific Electric Vehicle Heating System Market Forecasts and Analysis
9.3.3 Asia-Pacific Electric Vehicle Heating System Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Electric Vehicle Heating System Market Forecasts and Analysis - By End Users
9.3.5 Asia-Pacific Electric Vehicle Heating System Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Electric Vehicle Heating System Market
9.3.5.1.1 Australia Electric Vehicle Heating System Market by Product Type
9.3.5.1.2 Australia Electric Vehicle Heating System Market by End Users
9.3.5.2 China Electric Vehicle Heating System Market
9.3.5.2.1 China Electric Vehicle Heating System Market by Product Type
9.3.5.2.2 China Electric Vehicle Heating System Market by End Users
9.3.5.3 India Electric Vehicle Heating System Market
9.3.5.3.1 India Electric Vehicle Heating System Market by Product Type
9.3.5.3.2 India Electric Vehicle Heating System Market by End Users
9.3.5.4 Japan Electric Vehicle Heating System Market
9.3.5.4.1 Japan Electric Vehicle Heating System Market by Product Type
9.3.5.4.2 Japan Electric Vehicle Heating System Market by End Users
9.3.5.5 South Korea Electric Vehicle Heating System Market
9.3.5.5.1 South Korea Electric Vehicle Heating System Market by Product Type
9.3.5.5.2 South Korea Electric Vehicle Heating System Market by End Users
9.3.5.6 Rest of Asia-Pacific Electric Vehicle Heating System Market
9.3.5.6.1 Rest of Asia-Pacific Electric Vehicle Heating System Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Electric Vehicle Heating System Market by End Users
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Electric Vehicle Heating System Market Overview
9.4.2 Middle East and Africa Electric Vehicle Heating System Market Forecasts and Analysis
9.4.3 Middle East and Africa Electric Vehicle Heating System Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Electric Vehicle Heating System Market Forecasts and Analysis - By End Users
9.4.5 Middle East and Africa Electric Vehicle Heating System Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Electric Vehicle Heating System Market
9.4.5.1.1 South Africa Electric Vehicle Heating System Market by Product Type
9.4.5.1.2 South Africa Electric Vehicle Heating System Market by End Users
9.4.5.2 Saudi Arabia Electric Vehicle Heating System Market
9.4.5.2.1 Saudi Arabia Electric Vehicle Heating System Market by Product Type
9.4.5.2.2 Saudi Arabia Electric Vehicle Heating System Market by End Users
9.4.5.3 U.A.E Electric Vehicle Heating System Market
9.4.5.3.1 U.A.E Electric Vehicle Heating System Market by Product Type
9.4.5.3.2 U.A.E Electric Vehicle Heating System Market by End Users
9.4.5.4 Rest of Middle East and Africa Electric Vehicle Heating System Market
9.4.5.4.1 Rest of Middle East and Africa Electric Vehicle Heating System Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Electric Vehicle Heating System Market by End Users
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Electric Vehicle Heating System Market Overview
9.5.2 South and Central America Electric Vehicle Heating System Market Forecasts and Analysis
9.5.3 South and Central America Electric Vehicle Heating System Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Electric Vehicle Heating System Market Forecasts and Analysis - By End Users
9.5.5 South and Central America Electric Vehicle Heating System Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Electric Vehicle Heating System Market
9.5.5.1.1 Brazil Electric Vehicle Heating System Market by Product Type
9.5.5.1.2 Brazil Electric Vehicle Heating System Market by End Users
9.5.5.2 Argentina Electric Vehicle Heating System Market
9.5.5.2.1 Argentina Electric Vehicle Heating System Market by Product Type
9.5.5.2.2 Argentina Electric Vehicle Heating System Market by End Users
9.5.5.3 Rest of South and Central America Electric Vehicle Heating System Market
9.5.5.3.1 Rest of South and Central America Electric Vehicle Heating System Market by Product Type
9.5.5.3.2 Rest of South and Central America Electric Vehicle Heating System Market by End Users
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 VEHICLE HEATING SYSTEM MARKET, KEY COMPANY PROFILES
11.1. BORGWARNER INC.
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. EBERSPäCHER
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. MITSUBISHI HEAVY INDUSTRIES SYSTEMS, 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. DENSO CORPORATION
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. VALEO
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. HANON SYSTEMS
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. MAHLE GMBH
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. ROBERT BOSCH GMBH
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
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. BorgWarner Inc.
2. Eberspächer
3. Mitsubishi Heavy Industries SYSTEMS, LTD
4. DENSO CORPORATION
5. Valeo
6. Hanon Systems
7. MAHLE GmbH
8. Robert Bosch GmbH
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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