Hand and Power Tools Market Growth Drivers and Opportunities by 2031
The Hand and Power Tools Market is expected to register a CAGR of 6.1% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Cutting, Hammering, Gripping and Pinching, Striking and Driving). The report further presents analysis based on the Application (Residential, Commercial). The report further presents analysis based on the Sales Channel (Online Sales, Retail Sales). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Hand and Power Tools 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.
Hand and Power Tools Market Segmentation
Type- Cutting
- Hammering
- Gripping and Pinching
- Striking and Driving
- Residential
- Commercial
- Online Sales
- Retail Sales
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Hand and Power Tools Market Growth Drivers- Growing culture of DIY and Home Improvement: The tendency to take up DIY work and home improvement work goes high. For undertaking such kind of work, demand increases for hand tools as well as power tools and accordingly the market also increases. It is of greater magnitude in the emerging economies because there is growth in ownership of homes and renovation going on.
- Construction and Manufacturing Industry Growth: One of the growth drivers of this hand and power tools market is expansion in the construction and manufacturing sectors. In fact, with these expansions, the need for a good, efficient tool to support productivity and quality assurance in constructions and manufacturing goes up.
- Technological Advancement and Smart Tools: With the development of smart tools with IoT capabilities, great potential for innovation exists in the hand and power tools market. Such tools will offer real-time data, better user experience, and higher efficiency, which is a sure attractor to professional as well as DIY users. Manufacturers who invest in smart technology can capture an increasingly growing segment of tech-savvy consumers.
- Emerging Markets: The growth opportunity is tremendous in emerging markets for the hand and power tools industry. As regions are industrializing and urbanizing, an upward trend is anticipated in the demand for construction and home improvement tools. Companies entering these markets strategically will gain more sales and market share.
- Focus on Sustainability: The hand and power tools market is gaining more focus on sustainability towards more environmentally friendly products that consumers seek. Manufacturers of hand and power tools will respond to this trend, as sustainable materials and energy-efficient technologies will be key in tools that align with global environmental goals and the preferences of consumers.
- Ergonomics and Comfort for the User: The users are now more alert to the physical demands made by working with tools. In response to this, manufacturers have become more focused on ergonomics and user comfort. As consumers monitor their physical requirements more, the manufacturers will work toward making tools comfortable to users through reduced stress and improved usability. This can also become a push for innovation and enhance customer satisfaction for most tool types.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Hand and Power Tools 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 Hand and Power Tools 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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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
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.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Focus on Sustainability and Ergonomics and Comfort for the User are the key future trends of the Hand and Power Tools Market
The leading players operating in the Hand and Power Tools Market include AIMCO Global, Apex Tool Group, Atlas Copco AB, Robert Bosch GmbH, Channellock, Chicago Pneumatic Tools, DEWALT, Klein Tools, Stanley Black & Decker, and Wera Tools
The Hand and Power Tools Market is estimated to witness a CAGR of 6.1% from 2023 to 2031
The major factors driving the Hand and Power Tools Market are: Growing culture of DIY and Home Improvement and Construction and Manufacturing Industry Growth
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Hand And Power Tools Market - By Type
1.3.2 Hand And Power Tools Market - By Application
1.3.3 Hand And Power Tools Market - By Sales Channel
1.3.4 Hand And Power Tools Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HAND AND POWER TOOLS 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. HAND AND POWER TOOLS 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. HAND AND POWER TOOLS MARKET - GLOBAL MARKET ANALYSIS
6.1. HAND AND POWER TOOLS - GLOBAL MARKET OVERVIEW
6.2. HAND AND POWER TOOLS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HAND AND POWER TOOLS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CUTTING
7.3.1. Overview
7.3.2. Cutting Market Forecast and Analysis
7.4. HAMMERING
7.4.1. Overview
7.4.2. Hammering Market Forecast and Analysis
7.5. GRIPPING AND PINCHING
7.5.1. Overview
7.5.2. Gripping and Pinching Market Forecast and Analysis
7.6. STRIKING AND DRIVING
7.6.1. Overview
7.6.2. Striking and Driving Market Forecast and Analysis
8. HAND AND POWER TOOLS 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
9. HAND AND POWER TOOLS MARKET - REVENUE AND FORECASTS TO 2028 - SALES CHANNEL
9.1. OVERVIEW
9.2. SALES CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. ONLINE SALES
9.3.1. Overview
9.3.2. Online Sales Market Forecast and Analysis
9.4. RETAIL SALES
9.4.1. Overview
9.4.2. Retail Sales Market Forecast and Analysis
10. HAND AND POWER TOOLS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Hand And Power Tools Market Overview
10.1.2 North America Hand And Power Tools Market Forecasts and Analysis
10.1.3 North America Hand And Power Tools Market Forecasts and Analysis - By Type
10.1.4 North America Hand And Power Tools Market Forecasts and Analysis - By Application
10.1.5 North America Hand And Power Tools Market Forecasts and Analysis - By Sales Channel
10.1.6 North America Hand And Power Tools Market Forecasts and Analysis - By Countries
10.1.6.1 United States Hand And Power Tools Market
10.1.6.1.1 United States Hand And Power Tools Market by Type
10.1.6.1.2 United States Hand And Power Tools Market by Application
10.1.6.1.3 United States Hand And Power Tools Market by Sales Channel
10.1.6.2 Canada Hand And Power Tools Market
10.1.6.2.1 Canada Hand And Power Tools Market by Type
10.1.6.2.2 Canada Hand And Power Tools Market by Application
10.1.6.2.3 Canada Hand And Power Tools Market by Sales Channel
10.1.6.3 Mexico Hand And Power Tools Market
10.1.6.3.1 Mexico Hand And Power Tools Market by Type
10.1.6.3.2 Mexico Hand And Power Tools Market by Application
10.1.6.3.3 Mexico Hand And Power Tools Market by Sales Channel
10.2. EUROPE
10.2.1 Europe Hand And Power Tools Market Overview
10.2.2 Europe Hand And Power Tools Market Forecasts and Analysis
10.2.3 Europe Hand And Power Tools Market Forecasts and Analysis - By Type
10.2.4 Europe Hand And Power Tools Market Forecasts and Analysis - By Application
10.2.5 Europe Hand And Power Tools Market Forecasts and Analysis - By Sales Channel
10.2.6 Europe Hand And Power Tools Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Hand And Power Tools Market
10.2.6.1.1 Germany Hand And Power Tools Market by Type
10.2.6.1.2 Germany Hand And Power Tools Market by Application
10.2.6.1.3 Germany Hand And Power Tools Market by Sales Channel
10.2.6.2 France Hand And Power Tools Market
10.2.6.2.1 France Hand And Power Tools Market by Type
10.2.6.2.2 France Hand And Power Tools Market by Application
10.2.6.2.3 France Hand And Power Tools Market by Sales Channel
10.2.6.3 Italy Hand And Power Tools Market
10.2.6.3.1 Italy Hand And Power Tools Market by Type
10.2.6.3.2 Italy Hand And Power Tools Market by Application
10.2.6.3.3 Italy Hand And Power Tools Market by Sales Channel
10.2.6.4 United Kingdom Hand And Power Tools Market
10.2.6.4.1 United Kingdom Hand And Power Tools Market by Type
10.2.6.4.2 United Kingdom Hand And Power Tools Market by Application
10.2.6.4.3 United Kingdom Hand And Power Tools Market by Sales Channel
10.2.6.5 Russia Hand And Power Tools Market
10.2.6.5.1 Russia Hand And Power Tools Market by Type
10.2.6.5.2 Russia Hand And Power Tools Market by Application
10.2.6.5.3 Russia Hand And Power Tools Market by Sales Channel
10.2.6.6 Rest of Europe Hand And Power Tools Market
10.2.6.6.1 Rest of Europe Hand And Power Tools Market by Type
10.2.6.6.2 Rest of Europe Hand And Power Tools Market by Application
10.2.6.6.3 Rest of Europe Hand And Power Tools Market by Sales Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Hand And Power Tools Market Overview
10.3.2 Asia-Pacific Hand And Power Tools Market Forecasts and Analysis
10.3.3 Asia-Pacific Hand And Power Tools Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Hand And Power Tools Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Hand And Power Tools Market Forecasts and Analysis - By Sales Channel
10.3.6 Asia-Pacific Hand And Power Tools Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Hand And Power Tools Market
10.3.6.1.1 Australia Hand And Power Tools Market by Type
10.3.6.1.2 Australia Hand And Power Tools Market by Application
10.3.6.1.3 Australia Hand And Power Tools Market by Sales Channel
10.3.6.2 China Hand And Power Tools Market
10.3.6.2.1 China Hand And Power Tools Market by Type
10.3.6.2.2 China Hand And Power Tools Market by Application
10.3.6.2.3 China Hand And Power Tools Market by Sales Channel
10.3.6.3 India Hand And Power Tools Market
10.3.6.3.1 India Hand And Power Tools Market by Type
10.3.6.3.2 India Hand And Power Tools Market by Application
10.3.6.3.3 India Hand And Power Tools Market by Sales Channel
10.3.6.4 Japan Hand And Power Tools Market
10.3.6.4.1 Japan Hand And Power Tools Market by Type
10.3.6.4.2 Japan Hand And Power Tools Market by Application
10.3.6.4.3 Japan Hand And Power Tools Market by Sales Channel
10.3.6.5 South Korea Hand And Power Tools Market
10.3.6.5.1 South Korea Hand And Power Tools Market by Type
10.3.6.5.2 South Korea Hand And Power Tools Market by Application
10.3.6.5.3 South Korea Hand And Power Tools Market by Sales Channel
10.3.6.6 Rest of Asia-Pacific Hand And Power Tools Market
10.3.6.6.1 Rest of Asia-Pacific Hand And Power Tools Market by Type
10.3.6.6.2 Rest of Asia-Pacific Hand And Power Tools Market by Application
10.3.6.6.3 Rest of Asia-Pacific Hand And Power Tools Market by Sales Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Hand And Power Tools Market Overview
10.4.2 Middle East and Africa Hand And Power Tools Market Forecasts and Analysis
10.4.3 Middle East and Africa Hand And Power Tools Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Hand And Power Tools Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Hand And Power Tools Market Forecasts and Analysis - By Sales Channel
10.4.6 Middle East and Africa Hand And Power Tools Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Hand And Power Tools Market
10.4.6.1.1 South Africa Hand And Power Tools Market by Type
10.4.6.1.2 South Africa Hand And Power Tools Market by Application
10.4.6.1.3 South Africa Hand And Power Tools Market by Sales Channel
10.4.6.2 Saudi Arabia Hand And Power Tools Market
10.4.6.2.1 Saudi Arabia Hand And Power Tools Market by Type
10.4.6.2.2 Saudi Arabia Hand And Power Tools Market by Application
10.4.6.2.3 Saudi Arabia Hand And Power Tools Market by Sales Channel
10.4.6.3 U.A.E Hand And Power Tools Market
10.4.6.3.1 U.A.E Hand And Power Tools Market by Type
10.4.6.3.2 U.A.E Hand And Power Tools Market by Application
10.4.6.3.3 U.A.E Hand And Power Tools Market by Sales Channel
10.4.6.4 Rest of Middle East and Africa Hand And Power Tools Market
10.4.6.4.1 Rest of Middle East and Africa Hand And Power Tools Market by Type
10.4.6.4.2 Rest of Middle East and Africa Hand And Power Tools Market by Application
10.4.6.4.3 Rest of Middle East and Africa Hand And Power Tools Market by Sales Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Hand And Power Tools Market Overview
10.5.2 South and Central America Hand And Power Tools Market Forecasts and Analysis
10.5.3 South and Central America Hand And Power Tools Market Forecasts and Analysis - By Type
10.5.4 South and Central America Hand And Power Tools Market Forecasts and Analysis - By Application
10.5.5 South and Central America Hand And Power Tools Market Forecasts and Analysis - By Sales Channel
10.5.6 South and Central America Hand And Power Tools Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Hand And Power Tools Market
10.5.6.1.1 Brazil Hand And Power Tools Market by Type
10.5.6.1.2 Brazil Hand And Power Tools Market by Application
10.5.6.1.3 Brazil Hand And Power Tools Market by Sales Channel
10.5.6.2 Argentina Hand And Power Tools Market
10.5.6.2.1 Argentina Hand And Power Tools Market by Type
10.5.6.2.2 Argentina Hand And Power Tools Market by Application
10.5.6.2.3 Argentina Hand And Power Tools Market by Sales Channel
10.5.6.3 Rest of South and Central America Hand And Power Tools Market
10.5.6.3.1 Rest of South and Central America Hand And Power Tools Market by Type
10.5.6.3.2 Rest of South and Central America Hand And Power Tools Market by Application
10.5.6.3.3 Rest of South and Central America Hand And Power Tools Market by Sales Channel
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. HAND AND POWER TOOLS MARKET, KEY COMPANY PROFILES
12.1. AIMCOGLOBAL.
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. APEX TOOL GROUP
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. ATLAS COPCO AB
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. BOSCH GMBH
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. CHANNELLOCK
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. CHICAGO PNEUMATIC TOOLS
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. DEWALT
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. KLEIN TOOLS
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. STANLEY BLACK AND DECKER
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. WERA TOOLS
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
1. AIMCO Global.
2. Apex Tool Group
3. Atlas Copco AB
4. Bosch GmbH
5. Channellock
6. Chicago Pneumatic Tools
7. DEWALT
8. Klein Tools
9. Stanley Black and Decker
10. Wera Tools
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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