Energy Storage Battery for Microgrids Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
MARKET INTRODUCTION
For storing generated energy, battery energy storage systems (BESS) for microgrids are employing lithium-ion, magnesium-ion, or another type of choice. In backup power applications, residential and commercial energy storage often meets the energy requirements in the event of a grid outage.
MARKET DYNAMICS
The introduction of sustainable energy fuels, which replace natural gas or diesel fuels with renewable fuels, such as solar PV and wind, into microgrids, thus reducing the fuel consumption, rising demand for energy storage products for residential use are the main factors driving the growth of the market for energy storage batteries for microgrids.
MARKET SCOPE
The "Global Energy Storage Battery for Microgrids Market Analysis To 2031" is a specialized and in-depth study of the Energy and Power industry with a special focus on global market trend analysis. The energy storage battery for microgrids market report aims to provide an overview of the energy storage battery for microgrids market with detailed market segmentation by type, application, and geography. The global energy storage battery for microgrids market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading energy storage battery for microgrids market player and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global energy storage battery for microgrids market is segmented based on tech type, application. Based on type, the energy storage battery for microgrids market is segmented into sodium-sulfur battery, VRLA lead acid, lithium-ion, others. Based on application, the energy storage battery for microgrids market is segmented into residential, commercial, and industrial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global energy storage battery for microgrids 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), Middle East and Africa (MEA) and South & Central America. The energy storage battery for microgrids market by each region is later sub-segmented by respective countries and segments. The energy storage battery for microgrids market 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 energy storage battery for microgrids 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 trend. The report also provides exhaustive PEST analysis highlighting factors affecting the energy storage battery for microgrids market in these regions.
IMPACT OF COVID-19 ON ENERGY STORAGE BATTERY FOR MICROGRIDS MARKET
The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global energy storage battery for microgrids market. The supply chain disruptions influenced the decline in demand for energy storage battery. Additionally, the stringent lockdown imposed by various government bodies across impacted the manufacturers of energy storage battery for microgrids thereby impacting the growth of the global energy storage battery for microgrids market.
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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 energy storage battery for microgrids 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), Middle East and Africa (MEA) and South & Central America. The energy storage battery for microgrids market by each region is later sub-segmented by respective countries and segments. The energy storage battery for microgrids market 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 energy storage battery for microgrids 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 trend. The report also provides exhaustive PEST analysis highlighting factors affecting the energy storage battery for microgrids market in these regions.
IMPACT OF COVID-19 ON ENERGY STORAGE BATTERY FOR MICROGRIDS MARKET
The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global energy storage battery for microgrids market. The supply chain disruptions influenced the decline in demand for energy storage battery. Additionally, the stringent lockdown imposed by various government bodies across impacted the manufacturers of energy storage battery for microgrids thereby impacting the growth of the global energy storage battery for microgrids market.
MARKET PLAYERS
The reports cover key developments in the energy storage battery for microgrids market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals 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 from energy storage battery for microgrids market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the energy storage battery for microgrids market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the energy storage battery for microgrids 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.
- NGK INSULATORS, LTD.
- SAMSUNG SDI CO.,LTD
- NEC Energy Solutions
- Panasonic Corporation
- Toshiba Energy Systems and Solutions Corporation
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- S&C Electric Company
- Sumitomo Electric Industries, Ltd.
- Eos Energy Enterprises, Inc.
- CALMAC.
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
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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 Energy Storage Battery For Microgrids Market - By Type
1.3.2 Energy Storage Battery For Microgrids Market - By Application
1.3.3 Energy Storage Battery For Microgrids Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ENERGY STORAGE BATTERY FOR MICROGRIDS 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. ENERGY STORAGE BATTERY FOR MICROGRIDS 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. ENERGY STORAGE BATTERY FOR MICROGRIDS MARKET - GLOBAL MARKET ANALYSIS
6.1. ENERGY STORAGE BATTERY FOR MICROGRIDS - GLOBAL MARKET OVERVIEW
6.2. ENERGY STORAGE BATTERY FOR MICROGRIDS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ENERGY STORAGE BATTERY FOR MICROGRIDS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ODIUM-SULFUR BATTERY
7.3.1. Overview
7.3.2. odium-sulfur Battery Market Forecast and Analysis
7.4. VRLA LEAD ACID
7.4.1. Overview
7.4.2. VRLA Lead Acid Market Forecast and Analysis
7.5. LITHIUM-ION
7.5.1. Overview
7.5.2. Lithium-ion Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. ENERGY STORAGE BATTERY FOR MICROGRIDS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. RESIDENTIAL
8.3.1. Overview
8.3.2. Residential Market Forecast and Analysis
8.4. COMMERCIAL
8.4.1. Overview
8.4.2. Commercial Market Forecast and Analysis
8.5. INDUSTRIAL
8.5.1. Overview
8.5.2. Industrial Market Forecast and Analysis
9. ENERGY STORAGE BATTERY FOR MICROGRIDS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Energy Storage Battery For Microgrids Market Overview
9.1.2 North America Energy Storage Battery For Microgrids Market Forecasts and Analysis
9.1.3 North America Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Type
9.1.4 North America Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Application
9.1.5 North America Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Countries
9.1.5.1 United States Energy Storage Battery For Microgrids Market
9.1.5.1.1 United States Energy Storage Battery For Microgrids Market by Type
9.1.5.1.2 United States Energy Storage Battery For Microgrids Market by Application
9.1.5.2 Canada Energy Storage Battery For Microgrids Market
9.1.5.2.1 Canada Energy Storage Battery For Microgrids Market by Type
9.1.5.2.2 Canada Energy Storage Battery For Microgrids Market by Application
9.1.5.3 Mexico Energy Storage Battery For Microgrids Market
9.1.5.3.1 Mexico Energy Storage Battery For Microgrids Market by Type
9.1.5.3.2 Mexico Energy Storage Battery For Microgrids Market by Application
9.2. EUROPE
9.2.1 Europe Energy Storage Battery For Microgrids Market Overview
9.2.2 Europe Energy Storage Battery For Microgrids Market Forecasts and Analysis
9.2.3 Europe Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Type
9.2.4 Europe Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Application
9.2.5 Europe Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Energy Storage Battery For Microgrids Market
9.2.5.1.1 Germany Energy Storage Battery For Microgrids Market by Type
9.2.5.1.2 Germany Energy Storage Battery For Microgrids Market by Application
9.2.5.2 France Energy Storage Battery For Microgrids Market
9.2.5.2.1 France Energy Storage Battery For Microgrids Market by Type
9.2.5.2.2 France Energy Storage Battery For Microgrids Market by Application
9.2.5.3 Italy Energy Storage Battery For Microgrids Market
9.2.5.3.1 Italy Energy Storage Battery For Microgrids Market by Type
9.2.5.3.2 Italy Energy Storage Battery For Microgrids Market by Application
9.2.5.4 United Kingdom Energy Storage Battery For Microgrids Market
9.2.5.4.1 United Kingdom Energy Storage Battery For Microgrids Market by Type
9.2.5.4.2 United Kingdom Energy Storage Battery For Microgrids Market by Application
9.2.5.5 Russia Energy Storage Battery For Microgrids Market
9.2.5.5.1 Russia Energy Storage Battery For Microgrids Market by Type
9.2.5.5.2 Russia Energy Storage Battery For Microgrids Market by Application
9.2.5.6 Rest of Europe Energy Storage Battery For Microgrids Market
9.2.5.6.1 Rest of Europe Energy Storage Battery For Microgrids Market by Type
9.2.5.6.2 Rest of Europe Energy Storage Battery For Microgrids Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Energy Storage Battery For Microgrids Market Overview
9.3.2 Asia-Pacific Energy Storage Battery For Microgrids Market Forecasts and Analysis
9.3.3 Asia-Pacific Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Energy Storage Battery For Microgrids Market
9.3.5.1.1 Australia Energy Storage Battery For Microgrids Market by Type
9.3.5.1.2 Australia Energy Storage Battery For Microgrids Market by Application
9.3.5.2 China Energy Storage Battery For Microgrids Market
9.3.5.2.1 China Energy Storage Battery For Microgrids Market by Type
9.3.5.2.2 China Energy Storage Battery For Microgrids Market by Application
9.3.5.3 India Energy Storage Battery For Microgrids Market
9.3.5.3.1 India Energy Storage Battery For Microgrids Market by Type
9.3.5.3.2 India Energy Storage Battery For Microgrids Market by Application
9.3.5.4 Japan Energy Storage Battery For Microgrids Market
9.3.5.4.1 Japan Energy Storage Battery For Microgrids Market by Type
9.3.5.4.2 Japan Energy Storage Battery For Microgrids Market by Application
9.3.5.5 South Korea Energy Storage Battery For Microgrids Market
9.3.5.5.1 South Korea Energy Storage Battery For Microgrids Market by Type
9.3.5.5.2 South Korea Energy Storage Battery For Microgrids Market by Application
9.3.5.6 Indonesia Energy Storage Battery For Microgrids Market
9.3.5.6.1 Indonesia Energy Storage Battery For Microgrids Market by Type
9.3.5.6.2 Indonesia Energy Storage Battery For Microgrids Market by Application
9.3.5.7 Rest of Asia-Pacific Energy Storage Battery For Microgrids Market
9.3.5.7.1 Rest of Asia-Pacific Energy Storage Battery For Microgrids Market by Type
9.3.5.7.2 Rest of Asia-Pacific Energy Storage Battery For Microgrids Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Energy Storage Battery For Microgrids Market Overview
9.4.2 Middle East and Africa Energy Storage Battery For Microgrids Market Forecasts and Analysis
9.4.3 Middle East and Africa Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Energy Storage Battery For Microgrids Market
9.4.5.1.1 South Africa Energy Storage Battery For Microgrids Market by Type
9.4.5.1.2 South Africa Energy Storage Battery For Microgrids Market by Application
9.4.5.2 Saudi Arabia Energy Storage Battery For Microgrids Market
9.4.5.2.1 Saudi Arabia Energy Storage Battery For Microgrids Market by Type
9.4.5.2.2 Saudi Arabia Energy Storage Battery For Microgrids Market by Application
9.4.5.3 U.A.E Energy Storage Battery For Microgrids Market
9.4.5.3.1 U.A.E Energy Storage Battery For Microgrids Market by Type
9.4.5.3.2 U.A.E Energy Storage Battery For Microgrids Market by Application
9.4.5.4 Rest of Middle East and Africa Energy Storage Battery For Microgrids Market
9.4.5.4.1 Rest of Middle East and Africa Energy Storage Battery For Microgrids Market by Type
9.4.5.4.2 Rest of Middle East and Africa Energy Storage Battery For Microgrids Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Energy Storage Battery For Microgrids Market Overview
9.5.2 South and Central America Energy Storage Battery For Microgrids Market Forecasts and Analysis
9.5.3 South and Central America Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Type
9.5.4 South and Central America Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Application
9.5.5 South and Central America Energy Storage Battery For Microgrids Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Energy Storage Battery For Microgrids Market
9.5.5.1.1 Brazil Energy Storage Battery For Microgrids Market by Type
9.5.5.1.2 Brazil Energy Storage Battery For Microgrids Market by Application
9.5.5.2 Argentina Energy Storage Battery For Microgrids Market
9.5.5.2.1 Argentina Energy Storage Battery For Microgrids Market by Type
9.5.5.2.2 Argentina Energy Storage Battery For Microgrids Market by Application
9.5.5.3 Rest of South and Central America Energy Storage Battery For Microgrids Market
9.5.5.3.1 Rest of South and Central America Energy Storage Battery For Microgrids Market by Type
9.5.5.3.2 Rest of South and Central America Energy Storage Battery For Microgrids Market by Application
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. ENERGY STORAGE BATTERY FOR MICROGRIDS MARKET, KEY COMPANY PROFILES
11.1. NGK INSULATORS, 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. SAMSUNG SDI 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. NEC ENERGY SOLUTIONS
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. PANASONIC 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. TOSHIBA ENERGY SYSTEMS AND SOLUTIONS CORPORATION
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. MITSUBISHI HEAVY INDUSTRIES, 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. SANDC ELECTRIC COMPANY
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. SUMITOMO ELECTRIC 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. EOS ENERGY ENTERPRISES, INC..
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. CALMAC
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
The List Of Companies
- NGK INSULATORS, LTD.
- SAMSUNG SDI CO.,LTD
- NEC Energy Solutions
- Panasonic Corporation
- Toshiba Energy Systems and Solutions Corporation
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- SandC Electric Company
- Sumitomo Electric Industries, Ltd.
- Eos Energy Enterprises, Inc..
- CALMAC
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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