Freight Management System Market Strategies and Share 2031
The freight management system market is expected to register a CAGR of 9.8% during 2023–2031. IoT and sensor technology adoption and last-mile delivery optimization are likely to remain key trends in the market.
Freight Management System Market Analysis
- The Freight Management system is possibly expected to observe significant growth in the next few years with the advent of the latest technologies like GPS, the internet of things (IoT) and augmented reality (AR).
- Expanding international trade and real-time tracking and data analytics are major growth drivers for the freight management system. A freight management system is not only limited to logistics companies but can be expanded to use by business owners, shopkeepers, and merchants to ease their logistics.
- Cloud based deployment and mobile access are the key trends in the freight management software market.
Freight Management System Market Overview
- The freight management system market is growing exponentially due to surging trade globally and the increased needs of the e-commerce industry for rapid freight management. With real-time information, companies can save more money and minimize disruptions to their supply chain.
- AI integration and cloud solutions can help to achieve scalability and more advanced analytics. Plus, adaption was fast-tracked by the COVID-19 outbreak, forcing countless companies to adopt faster and more reliable ways of delivery, increasing the need for a more resilient supply chain with 24/7 visibility.
- The freight managing system market has proven to be very stable. Although there are concerns over the high cost of implementation and cybersecurity issues, this global industry is projected to grow consistently over the next six years across numerous industries and regions.
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Freight Management System Market: Strategic Insights
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Freight Management System Market: Strategic Insights
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Freight Management System Market Drivers and Opportunities
Globalization of Supply Chains to Favor the Market
- Globalization of supply chains is another major factor driving the freight management systems market. As production and distribution complexities and scales reach global levels, businesses are becoming more reliant on third-party logistics.
- Freight management systems help companies overcome these challenges by offering real-time visibility, automated compliance with local and international regulatory requirements, route optimization and cost reduction.
- In this way, the logistics nightmare of increased containerization and shipped capital is lessened, with freight management reducing risks in cross-border trade and addressing challenges in real time while keeping costs low. For firms engaged in international trade, the initiative to increase automation in supply chains is expected to grow as globalization continues to transform supply chains.
Predictive Analytics for Route Optimization
- Opportunities in the freight management systems market are also emerging as predictive analytics for route optimization is revolutionizing how businesses plan and execute shipments. Leveraging big data, machine learning, and real-time information as inputs, these systems have the capability to predict optimized routes considering factors such as traffic, weather, fuel costs and delivery windows, which can translate into substantial benefits for the companies.
- For instance, these systems can make it possible for companies to reduce transportation costs, improve delivery times and improve efficiency, thus offering further opportunities in the freight management systems market. Increasingly growing trends such as e-commerce and expansion of supply chains in which goods move through numerous intermediaries are posing challenges for companies to manage massive data related to logistics.
- As demand for such advanced analytics increases, these tools are likely to be game-changers for companies, powering their decision-making and improving operational efficiencies, thus creating further opportunities in the freight management systems market.
Freight Management System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the freight management system market analysis are component, end-user, and mode.
- Based on component, the freight management system market is divided into solution and services.
- Based on the end-user, the freight management system market is divided into 3PLs, forwarders, brokers, shippers, and carriers.
- Based on the mode, the freight management system market is divided into rail freight, road freight, ocean freight, and air freight.
Freight Management System Market Share Analysis by Geography
- Freight Management System Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Freight Management System market dynamics, such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the Freight Management System market in these regions.
Freight Management System Market Report Scope
Freight Management System Market News and Recent Developments
The freight management system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the freight management system market are listed below:
- To help organizations increase the efficiency of global supply chains, Oracle introduced new logistics capabilities within Oracle Fusion Cloud Supply Chain & Manufacturing (SCM). The updates to Oracle Transportation Management and Oracle Global Trade Management, part of Oracle Cloud SCM, will help customers optimize logistics operations by increasing visibility, reducing costs, automating regulatory compliance, and improving decision-making. (Source: Oracle, Press Release, February 2024)
Freight Management System Market Report Coverage and Deliverables
The “Freight Management System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Freight management system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Freight management system market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Freight management system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the freight management system market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global Freight Management System market is expected to grow at a CAGR of 9.8% during the forecast period 2023 - 2031.
Globalization of supply chains and e-commerce growth are expected to drive the freight management system market.
IoT and sensor technology adoption and last-mile delivery optimization are likely to remain key trends in the market.
The leading players operating in the freight management system market are Oracle, Werner Enterprises, Mercurygate, SAP, Accenture, Jda Software, Ceva Logistics, UPS, and Db Schenker.
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.
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 Freight Management System Market - By Component
1.3.2 Freight Management System Market - By End-User
1.3.3 Freight Management System Market - By Mode
1.3.4 Freight Management System Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FREIGHT MANAGEMENT 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. FREIGHT MANAGEMENT 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. FREIGHT MANAGEMENT SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. FREIGHT MANAGEMENT SYSTEM - GLOBAL MARKET OVERVIEW
6.2. FREIGHT MANAGEMENT SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FREIGHT MANAGEMENT SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. SOLUTION
7.3.1. Overview
7.3.2. Solution Market Forecast and Analysis
7.4. SERVICES
7.4.1. Overview
7.4.2. Services Market Forecast and Analysis
8. FREIGHT MANAGEMENT SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
8.1. OVERVIEW
8.2. END-USER MARKET FORECASTS AND ANALYSIS
8.3. 3PLS
8.3.1. Overview
8.3.2. 3PLs Market Forecast and Analysis
8.4. FORWARDERS
8.4.1. Overview
8.4.2. Forwarders Market Forecast and Analysis
8.5. BROKERS
8.5.1. Overview
8.5.2. Brokers Market Forecast and Analysis
8.6. SHIPPERS
8.6.1. Overview
8.6.2. Shippers Market Forecast and Analysis
8.7. CARRIERS
8.7.1. Overview
8.7.2. Carriers Market Forecast and Analysis
9. FREIGHT MANAGEMENT SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - MODE
9.1. OVERVIEW
9.2. MODE MARKET FORECASTS AND ANALYSIS
9.3. RAIL FREIGHT
9.3.1. Overview
9.3.2. Rail Freight Market Forecast and Analysis
9.4. ROAD FREIGHT
9.4.1. Overview
9.4.2. Road Freight Market Forecast and Analysis
9.5. OCEAN FREIGHT
9.5.1. Overview
9.5.2. Ocean Freight Market Forecast and Analysis
9.6. AIR FREIGHT
9.6.1. Overview
9.6.2. Air Freight Market Forecast and Analysis
10. FREIGHT MANAGEMENT SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Freight Management System Market Overview
10.1.2 North America Freight Management System Market Forecasts and Analysis
10.1.3 North America Freight Management System Market Forecasts and Analysis - By Component
10.1.4 North America Freight Management System Market Forecasts and Analysis - By End-User
10.1.5 North America Freight Management System Market Forecasts and Analysis - By Mode
10.1.6 North America Freight Management System Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Freight Management System Market
10.1.6.1.1 Canada Freight Management System Market by Component
10.1.6.1.2 Canada Freight Management System Market by End-User
10.1.6.1.3 Canada Freight Management System Market by Mode
10.1.6.2 Mexico Freight Management System Market
10.1.6.2.1 Mexico Freight Management System Market by Component
10.1.6.2.2 Mexico Freight Management System Market by End-User
10.1.6.2.3 Mexico Freight Management System Market by Mode
10.1.6.3 US Freight Management System Market
10.1.6.3.1 US Freight Management System Market by Component
10.1.6.3.2 US Freight Management System Market by End-User
10.1.6.3.3 US Freight Management System Market by Mode
10.2. EUROPE
10.2.1 Europe Freight Management System Market Overview
10.2.2 Europe Freight Management System Market Forecasts and Analysis
10.2.3 Europe Freight Management System Market Forecasts and Analysis - By Component
10.2.4 Europe Freight Management System Market Forecasts and Analysis - By End-User
10.2.5 Europe Freight Management System Market Forecasts and Analysis - By Mode
10.2.6 Europe Freight Management System Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Freight Management System Market
10.2.6.1.1 Germany Freight Management System Market by Component
10.2.6.1.2 Germany Freight Management System Market by End-User
10.2.6.1.3 Germany Freight Management System Market by Mode
10.2.6.2 France Freight Management System Market
10.2.6.2.1 France Freight Management System Market by Component
10.2.6.2.2 France Freight Management System Market by End-User
10.2.6.2.3 France Freight Management System Market by Mode
10.2.6.3 Italy Freight Management System Market
10.2.6.3.1 Italy Freight Management System Market by Component
10.2.6.3.2 Italy Freight Management System Market by End-User
10.2.6.3.3 Italy Freight Management System Market by Mode
10.2.6.4 United Kingdom Freight Management System Market
10.2.6.4.1 United Kingdom Freight Management System Market by Component
10.2.6.4.2 United Kingdom Freight Management System Market by End-User
10.2.6.4.3 United Kingdom Freight Management System Market by Mode
10.2.6.5 Russia Freight Management System Market
10.2.6.5.1 Russia Freight Management System Market by Component
10.2.6.5.2 Russia Freight Management System Market by End-User
10.2.6.5.3 Russia Freight Management System Market by Mode
10.2.6.6 Rest of Europe Freight Management System Market
10.2.6.6.1 Rest of Europe Freight Management System Market by Component
10.2.6.6.2 Rest of Europe Freight Management System Market by End-User
10.2.6.6.3 Rest of Europe Freight Management System Market by Mode
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Freight Management System Market Overview
10.3.2 Asia-Pacific Freight Management System Market Forecasts and Analysis
10.3.3 Asia-Pacific Freight Management System Market Forecasts and Analysis - By Component
10.3.4 Asia-Pacific Freight Management System Market Forecasts and Analysis - By End-User
10.3.5 Asia-Pacific Freight Management System Market Forecasts and Analysis - By Mode
10.3.6 Asia-Pacific Freight Management System Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Freight Management System Market
10.3.6.1.1 Australia Freight Management System Market by Component
10.3.6.1.2 Australia Freight Management System Market by End-User
10.3.6.1.3 Australia Freight Management System Market by Mode
10.3.6.2 China Freight Management System Market
10.3.6.2.1 China Freight Management System Market by Component
10.3.6.2.2 China Freight Management System Market by End-User
10.3.6.2.3 China Freight Management System Market by Mode
10.3.6.3 India Freight Management System Market
10.3.6.3.1 India Freight Management System Market by Component
10.3.6.3.2 India Freight Management System Market by End-User
10.3.6.3.3 India Freight Management System Market by Mode
10.3.6.4 Japan Freight Management System Market
10.3.6.4.1 Japan Freight Management System Market by Component
10.3.6.4.2 Japan Freight Management System Market by End-User
10.3.6.4.3 Japan Freight Management System Market by Mode
10.3.6.5 South Korea Freight Management System Market
10.3.6.5.1 South Korea Freight Management System Market by Component
10.3.6.5.2 South Korea Freight Management System Market by End-User
10.3.6.5.3 South Korea Freight Management System Market by Mode
10.3.6.6 Rest of Asia-Pacific Freight Management System Market
10.3.6.6.1 Rest of Asia-Pacific Freight Management System Market by Component
10.3.6.6.2 Rest of Asia-Pacific Freight Management System Market by End-User
10.3.6.6.3 Rest of Asia-Pacific Freight Management System Market by Mode
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Freight Management System Market Overview
10.4.2 Middle East and Africa Freight Management System Market Forecasts and Analysis
10.4.3 Middle East and Africa Freight Management System Market Forecasts and Analysis - By Component
10.4.4 Middle East and Africa Freight Management System Market Forecasts and Analysis - By End-User
10.4.5 Middle East and Africa Freight Management System Market Forecasts and Analysis - By Mode
10.4.6 Middle East and Africa Freight Management System Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Freight Management System Market
10.4.6.1.1 South Africa Freight Management System Market by Component
10.4.6.1.2 South Africa Freight Management System Market by End-User
10.4.6.1.3 South Africa Freight Management System Market by Mode
10.4.6.2 Saudi Arabia Freight Management System Market
10.4.6.2.1 Saudi Arabia Freight Management System Market by Component
10.4.6.2.2 Saudi Arabia Freight Management System Market by End-User
10.4.6.2.3 Saudi Arabia Freight Management System Market by Mode
10.4.6.3 U.A.E Freight Management System Market
10.4.6.3.1 U.A.E Freight Management System Market by Component
10.4.6.3.2 U.A.E Freight Management System Market by End-User
10.4.6.3.3 U.A.E Freight Management System Market by Mode
10.4.6.4 Rest of Middle East and Africa Freight Management System Market
10.4.6.4.1 Rest of Middle East and Africa Freight Management System Market by Component
10.4.6.4.2 Rest of Middle East and Africa Freight Management System Market by End-User
10.4.6.4.3 Rest of Middle East and Africa Freight Management System Market by Mode
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Freight Management System Market Overview
10.5.2 South and Central America Freight Management System Market Forecasts and Analysis
10.5.3 South and Central America Freight Management System Market Forecasts and Analysis - By Component
10.5.4 South and Central America Freight Management System Market Forecasts and Analysis - By End-User
10.5.5 South and Central America Freight Management System Market Forecasts and Analysis - By Mode
10.5.6 South and Central America Freight Management System Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Freight Management System Market
10.5.6.1.1 Brazil Freight Management System Market by Component
10.5.6.1.2 Brazil Freight Management System Market by End-User
10.5.6.1.3 Brazil Freight Management System Market by Mode
10.5.6.2 Argentina Freight Management System Market
10.5.6.2.1 Argentina Freight Management System Market by Component
10.5.6.2.2 Argentina Freight Management System Market by End-User
10.5.6.2.3 Argentina Freight Management System Market by Mode
10.5.6.3 Rest of South and Central America Freight Management System Market
10.5.6.3.1 Rest of South and Central America Freight Management System Market by Component
10.5.6.3.2 Rest of South and Central America Freight Management System Market by End-User
10.5.6.3.3 Rest of South and Central America Freight Management System Market by Mode
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. FREIGHT MANAGEMENT SYSTEM MARKET, KEY COMPANY PROFILES
12.1. ORACLE
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. WERNER ENTERPRISES
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. MERCURYGATE
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. SAP
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. ACCENTURE
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. JDA SOFTWARE
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. CEVA LOGISTICS
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. UPS
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. DB SCHENKER
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. C.H. ROBINSON (TMC)
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. Oracle
2. Werner Enterprises
3. Mercurygate
4. SAP
5. Accenture
6. Jda Software
7. Ceva Logistics
8. UPS
9. Db Schenker
10. C.H. Robinson (TMC)
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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